July PE Market Weak Trend

Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 790,000 tons, down 10,000 tons from yesterday.

PE spot market analysis: Today, the overall domestic PE market price continues to be weak. Except for the small increase in low-pressure wire drawing prices in South China, the market prices in other regions are mostly reduced, ranging from 10-90 yuan/ton. The crude oil market is under pressure from the US tariff policy, international oil prices have fallen, and cost support has weakened.

In addition, market demand is sluggish, social inventory in the market is rising, and the raw material PP is digested slowly. The industry mainly replenishes warehouses on demand, the market mentality is bearish, and most traders give profits to promote transactions. The trading atmosphere is weak.

PE spot trend forecast: In terms of raw materials, in the short term, the crude oil market may be affected by favorable factors such as the traditional peak consumption season in the United States, as well as the instability of the geopolitical situation, OPEC+'s maintenance of an increase in 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, there are no plans to shut down PE units for maintenance in the short term, and two units of Qilu Petrochemical involving a production capacity of about 200,000 tons are planned to resume operation one after another, and the supply of goods on the site may be stable. On the demand side, downstream demand is in the off-season, and the receiving capacity is limited, and rigid demand is maintained as the main demand. Overall, the polyethylene market is expected to fluctuate downward in the short term.

Mainstream PE market quotes:

PE futures analysis: July 15 L2509 opening price: 7285, highest price: 7292, lowest price: 7208, position: 433865, settlement price: 7243, yesterday's settlement: 7284, drop: 41, daily trading volume: 307485 lots, deposited funds: 2.193 billion, capital inflow: 44.75 million.

Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index was 7702 on July 15, down 13; the LDPE film spot index was 9478, down 34; the LLDPE spot index was 7298, down 18.

Shenhua auction statistics: Linear today's auction volume is 700 tons, and today's transaction volume is 232 tons. High pressure today's auction volume is 44.5 tons, and today's transaction volume is 0 tons. Low pressure today's auction volume is 100 tons, and today's transaction volume is 0 tons.

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