Daily Review: Polyethylene Prices Continue Weakness, Downstream Wait-and-See Atmosphere

Market Overview: On December 15th, today's polyethylene market prices continued to weaken, with LLDPE (7042) market prices ranging between 6,500-6,700 RMB/ton, LDPE (2426H) market prices between 8,150-8,800 RMB/ton, and HDPE (6095) market average prices between 6,950-7,950 RMB/ton. The average market price for LLDPE (7042) is 6,704 RMB/ton, a decrease of 35 RMB/ton or 0.52% from the previous working day; the average market price for LDPE (2426H) is 8,460 RMB/ton, a decrease of 36 RMB/ton or 0.42% from the previous working day; the average market price for HDPE (6095) is 7,354 RMB/ton, an increase of 8 RMB/ton or 0.11% from the previous working day. Last Monday, the international crude oil market saw a slight decline, with moderate cost support. The main polyethylene futures opened low and moved high, with spot market quotations varying. At present, the downstream in the polyethylene market is resistant to price increases, with a strong atmosphere of hesitation and observation.

North China Region: Today's market prices in Beijing have adjusted by -20 to 60 RMB/ton. HDPE prices: Baolai LyondellBasell 9255 is reported at 7030 RMB/ton, Fushun Petrochemical 100N at 6870 RMB/ton, Jilin Petrochemical 100S at 6920 RMB/ton. LDPE prices: Yanshan Petrochemical 1C7A is reported at 12750 RMB/ton, Zhongtian Hechuang LD100PC at 8180 RMB/ton, Yanshan Petrochemical 1I60A at 12600 RMB/ton. LLDPE prices: Daqing Petrochemical 7042 at 6630 RMB/ton, Energies Chemical 7042 at 6600 RMB/ton, Fushun Petrochemical 7042N at 6580 RMB/ton.

East China Region: Today's Yuyiao market price adjustment is between -200 to 0 yuan/ton. HDPE prices: Daqing Petrochemical 5000S reported at 7180 yuan/ton, Dushanzi Petrochemical 5502 reported at 7250 yuan/ton, Zhejiang Petrochemical 23050 reported at 6900 yuan/ton. LDPE prices: Yangzi BASF 2420H reported at 8450 yuan/ton, Guoneng Xinjiang 2426H reported at 8320 yuan/ton, Guoneng Yulin 2426H reported at 8320 yuan/ton. LLDPE prices: Huatai Shengfu 7042 reported at 6580 yuan/ton, Zhejiang Petrochemical 7042 reported at 6650 yuan/ton, Zhenhai Refining & Chemical 7050H reported at 6950 yuan/ton.

South China Region: Today, the Guangzhou market prices have been adjusted by -100 to 0 RMB/ton. HDPE prices: Daqing Petrochemical 5000S is priced at 7,420 RMB/ton, Guangdong Petrochemical 6095 is priced at 7,650 RMB/ton, Guangdong Petrochemical 6200 is priced at 7,050 RMB/ton. LDPE prices: Maoming Petrochemical 2426H is priced at 9,200 RMB/ton, Maoming Petrochemical 2426K is priced at 9,200 RMB/ton, Maoming Petrochemical 2420D is priced at 9,200 RMB/ton. LLDPE prices: Daqing Petrochemical 8320 is priced at 7,300 RMB/ton, Fujian United 7042 is priced at 6,600 RMB/ton, Fushun Petrochemical 7042N is priced at 6,600 RMB/ton.

Market Forecast: Today, the polyethylene futures market opened lower and then rose. The spot market showed mixed fluctuations, with significant supply pressure and ongoing sales pressure. Overall, it is expected that the polyethylene market may continue to weaken in the next trading day, with the price range for LLDPE (7042) likely between 6,600 and 6,700 yuan/ton.