PE Market: Price Split & Inventory Drop

Domestic petrochemical inventory: The inventory of two oil polyolefins is 855,000 tons, down 15,000 tons from yesterday.

PE spot market analysis: Today, the overall domestic PE market price shows a trend of differentiation among varieties. Among them, the prices of linear and high pressure are adjusted upward, with an increase of 10-80 yuan/ton, and the market prices of other varieties are adjusted downward, with a decrease of 20-50 yuan/ton.

Affected by the continuous rise in international oil prices, the cost support of the PE market has been strengthened. Although some PE units are still shut down for maintenance, the inventory of two oil polyolefins in the field is at a relatively high level, and the pace of destocking is slow.

Supply pressure still exists. In addition, terminal demand is weak, and downstream factories are not very enthusiastic about receiving goods. Traders flexibly adjust their quotations and shipments.

PE spot trend forecast: In terms of raw materials, the crude oil market may be affected by the interweaving of favorable factors such as the geopolitical situation is still unstable, the US summer travel peak season, and OPEC+'s maintenance of production increase.

However, China and the United States will hold a new round of economic and trade talks this week, and demand expectations are expected to improve. It is also necessary to pay attention to the impact of related changes on international oil prices. On the supply side, the number of PE units scheduled for maintenance in the market in the short term is limited.

In addition, some PE units that were previously shut down are scheduled to resume operation. It is expected that the supply pressure in the market may gradually increase.

On the demand side, the weak downstream demand continues, and with the arrival of the rainy season in the south, the downstream enthusiasm for taking goods is not high, and it is difficult to provide strong support for the PE market. Overall, the polyethylene market is expected to fluctuate in the short term.

Mainstream PE market quotes:

PE futures analysis: June 10 L2509 opening price: 7082, highest price: 7139, lowest price: 7049, position: 530962, settlement price: 7099, yesterday's settlement: 7079, increase: 20, daily trading volume: 324522 lots, deposited funds: 2.641 billion, capital outflow: 60.98 million.

Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index was 7631 on June 10, down 8; the LDPE film spot index was 9177, up 7; the LLDPE spot index was 7266, up 10.

Shenhua auction statistics: Linear today's auction volume is 550 tons, and today's transaction volume is 550 tons. High pressure today's auction volume is 100 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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