Comprehensive analysis of PE market this week

2022-09-23
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Comprehensive analysis of PE market this week

international market: fixture is the combination of these structures

northwest Europe: LD has strong demand for PE and LLDPE in recent 10 years, and FD prices continue to rise, rising US dollars/ton

hdpe prices fell slightly by USD/ton due to seasonal reasons. FOB prices remained stable

U.S. Gulf: affected by the bad macroeconomic situation, the demand is not strong, the market is weak, the FOB price fell, and the dollar fell

Asia: upstream ethylene prices are weak, demand is weak, but trading is not active. There are still major differences between the buyer and the seller. Prices in northwest Asia are still low. Affected by the weak demand of China when the battery impact testing machine is not in use, the price is difficult to recover in the near future

ldpe: due to the weak price of ethylene and the absence of Chinese buyers, the price fell by US dollars. Traders expect that the imminent commencement of ExxonMobil's 480000 ton/year LLDPE plant in Singapore will put pressure on all PE grades. In May, the seller of LD cargo maintained the quotation of USD/ton CFR Hong Kong/Southeast Asia. The buyer's purchase interest is USD/ton

lldpe: the price remained basically unchanged during the May Day holiday. LLDPE prices are relatively stable. The commencement of the 480000 ton/year new plant of ExxonMobil will break the current supply-demand balance. The seller's quotation is USD/ton CFR Hong Kong and Southeast Asia, but the seller is interested in the price of USD/ton

hdpe: the price is flat, and traders are waiting for a new round of market direction. They are waiting for a new round of quotations from the Middle East. The trading volume is relatively strong, but the film grade price range is USD/ton CFR China, Hong Kong and Southeast Asia. The bid price is USD/ton CFR Malaysia/Singapore, but includes unloading charges, and some include 60 day l/C. Therefore, it is equivalent to USD/ton, spot. In the Indian market, the price is 560 US dollars/ton CFR

domestic market: affected by the weakness of international and domestic macro-economy, domestic market demand is not strong, prices continue to decline in an all-round way, and individual markets show signs of accelerating decline. Polyethylene production enterprises continue to reduce the ex factory price, but the price reduction not only failed to improve the sales situation, but also increased the wait-and-see mood of users, and the inventory of enterprises and society is constantly increasing

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compared with the same period last year, the import of polyethylene increased significantly in the first few months of this year, the import of plastic products also increased, and the export of domestic plastic products decreased significantly. However, the international crude oil price has continued to rise, which has led to a sharp decline in the profits of polyethylene production enterprises in the past few months, and many enterprises have suffered serious losses. Large multinational petrochemical companies abroad also have a similar situation, especially Exxon, Dow and lianc in the United States have also suffered from benefit decline or even losses. Some petrochemical companies in South Korea and Japan also have poor benefits. Some companies begin to carry out annual maintenance in advance, so that the available resources of polyethylene will be reduced. Therefore, it is expected that there is little room for future decline

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