Domestic PE: Inventory Rise & Price Fluctuation
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 810,000 tons, an increase of 70,000 tons from last week.
Analysis of the PE spot market: Today, the overall price of the domestic PE market showed a trend of both rising and falling. Among them, the prices of linear, high-pressure and low-pressure membrane materials in North China were reduced, with a decline of 20-50 yuan/ton.
The market prices in other regions were stable and slightly strong, with an increase of 10-150 yuan/ton. Although the potential supply risk to the crude oil market has not disappeared due to the geopolitical situation, the intervention of the United States has eased the concerns in the crude oil market. The international oil price has fallen slightly, and the cost support of the PE market still exists.
In addition, the supply of some varieties in the market is tight, and the market mentality remains strong. Traders mainly push up slightly, but there are also some areas in the downstream that are resistant to high-priced supply. The market is in a wait-and-see mood and the trading situation slows down.
PE spot trend forecast: In terms of raw materials, in the short term, the crude oil market may be affected by the instability of the geopolitical situation, the traditional peak consumption season in the United States, and other favorable factors, as well as OPEC+'s position to increase production and the poor global economy. It is also necessary to pay attention to the impact of related changes on international oil prices. In terms of supply, the supply of goods in the market may show an increasing trend this week.
As some PE units that were overhauled in the early stage are planned to resume operation, the production growth will be promoted. In addition, under the expectation of new production capacity, the subsequent supply pressure in the market is still accumulating. In terms of demand, downstream enterprises mostly produce on demand and purchase raw materials cautiously, which is difficult to drive a significant recovery in PE demand. Overall, the polyethylene market is expected to fluctuate in the short term.
Mainstream PE market quotes:
PE futures analysis: June 23, L2509 opening price: 7406, highest price: 7490, lowest price: 7374, position: 477335, settlement price: 7422, yesterday's settlement: 7446, drop: 24, daily trading volume: 421810 lots, deposited funds: 2.487 billion, capital outflow: 27.62 million.
Domestic PE index: According to Tuduoduo data, on June 23, the domestic HDPE spot index was 7853, up 9; the LDPE film spot index was 9958, up 4; the LLDPE spot index was 7549, up 19.
Shenhua auction statistics: Linear auction volume today is 200 tons, and today's trading volume is 200 tons. High pressure auction volume today is 0 tons, and today's trading volume is 0 tons. Low pressure auction volume today is 200 tons, and today's trading volume is 200 tons.
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