Domestic PE Prices Strengthen as Inventory Falls

Domestic petrochemical inventory: The inventory of polyolefins from the two oils is 810,000 tons, down 10,000 tons from yesterday.

PE spot market analysis: Today, the overall price of the domestic PE market is relatively strong. Except for the low-pressure film materials in South China and the low-pressure wire drawing prices in North China, the market prices in other regions have all risen, ranging from 10 to 200 yuan/ton.

Although the international oil price has fallen slightly, affected by the previous rise, its cost support for the PE market remains strong, and the fundamentals remain flat. However, the macro-favorable boost has warmed up the market mentality, and traders have actively pushed up the quotation for shipment.

PE spot trend forecast: In terms of raw materials, the crude oil market may be affected by the continuation of the US sanctions policy on oil-producing countries, the US summer travel peak season and other favorable factors, as well as OPEC+'s continued 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.

On the supply side, the PE supply side will be mixed with long and short positions next week, and the overall supply may be sufficient. Although the number of maintenance devices on the site has decreased, some key devices are still under maintenance.

However, with the gradual restart of the previous maintenance devices and the gradual implementation of new production capacity, it is expected that the supply of goods may continue to increase. On the demand side, most downstream industries are in the traditional off-season, and the demand boost is insufficient. Overall, the polyethylene market is expected to fluctuate in the short term.

Mainstream PE market quotes:

PE futures analysis: June 13 L2509 opening price: 7100, highest price: 7308, lowest price: 7066, position: 494228, settlement price: 7211, yesterday's settlement: 7124, increase: 87, daily trading volume: 662862 lots, deposited funds: 2.511 billion, capital outflow: 127 million.

Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index was 7686 on June 13, up 33; the LDPE film spot index was 9384, up 101; the LLDPE spot index was 7344, up 67.

Shenhua auction statistics: Linear today's auction volume is 420 tons, and today's transaction volume is 399 tons. High pressure today's auction volume is 1005 tons, and today's transaction volume is 100 tons. Low pressure today's auction volume is 0 tons, and today's transaction volume is 0 tons.

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