Daily Review: Polyethylene Prices Under Weak Consolidation, Sellers Face Significant Pressure to Move Inventory

Market Overview: On December 5th, the polyethylene market prices showed weak adjustments. The market price for LLDPE (7042) ranged between 6,650-7,000 yuan/ton, LDPE (2426H) ranged between 8,450-9,000 yuan/ton, and HDPE (6095) ranged between 7,050-8,100 yuan/ton. The average market price for LLDPE (7042) was 6,909 yuan/ton, a decrease of 42 yuan/ton from the previous working day, a drop of 0.60%. The average market price for LDPE (2426H) was 8,750 yuan/ton, a decrease of 56 yuan/ton from the previous working day, a drop of 0.64%. The average market price for HDPE (6095) was 7,463 yuan/ton, a decrease of 9 yuan/ton from the previous working day, a drop of 0.12%. Yesterday, the international crude oil market saw a slight increase, providing moderate cost support. The main polyethylene futures experienced a downward fluctuation, leading to some downward adjustments in spot market offers. Currently, the transaction volume in the polyethylene market is limited, and merchants are experiencing significant pressure to sell.

North China Region: Today's price adjustments in the Beijing market range from -70 to 50 yuan/ton. HDPE prices: Yanshan Petrochemical 3401J is quoted at 8,500 yuan/ton, Yanshan Petrochemical B5703(5200B) at 8,400 yuan/ton, Yanshan Petrochemical L501(5000S) at 8,650 yuan/ton. LDPE prices: Yanshan Petrochemical 1I20A-1 (premium) is quoted at 14,600 yuan/ton, Zhongtian Hechuang LD605 at 9,650 yuan/ton, Yanshan Petrochemical LD608 at 10,250 yuan/ton. LLDPE prices: Jiutai Group 7042 is quoted at 6,670 yuan/ton, Lanzhou Petrochemical 1018 at 6,970 yuan/ton, Shenhua Baotou 7042 at 6,700 yuan/ton.

East China Region: Today's Yuyao market prices are adjusted by -100 to 0 yuan/ton. HDPE prices: Daqing Petrochemical 5000S is quoted at 7,300 yuan/ton, Dushanzi Petrochemical 5502 at 7,200 yuan/ton, and Tarim 8008T at 7,350 yuan/ton. LDPE prices: Yangzi-BASF 2420H is quoted at 8,800 yuan/ton, Guoneng Xinjiang 2426H at 8,700 yuan/ton, and Guoneng Yulin 2426H at 8,700 yuan/ton. LLDPE prices: Huatai Shengfu 7042 is quoted at 6,920 yuan/ton, Zhejiang Petrochemical 7042 at 7,000 yuan/ton, and Zhenhai Refining 7050H at 7,280 yuan/ton.

South China Region: Today's market price adjustments in Guangzhou range from -200 to 0 yuan/ton. HDPE prices: Daqing Petrochemical 5000S reported at 7580 yuan/ton, Guangdong Petrochemical 6095 at 8000 yuan/ton, Guangdong Petrochemical 6200 at 7150 yuan/ton. LDPE prices: Maoming Petrochemical 2426H reported at 9300 yuan/ton, Maoming Petrochemical 2426K at 9300 yuan/ton, Maoming Petrochemical 2420D at 9300 yuan/ton. LLDPE prices: Daqing Petrochemical 8320 reported at 7400 yuan/ton, Fujian United 7042 at 6900 yuan/ton, Fushun Petrochemical 7042N at 7000 yuan/ton.

Market Forecast: Today, the polyethylene futures market experienced fluctuations and a downward trend, with some adjustments in the spot prices. The support from the cost side is not stable, while the macro sentiment has improved somewhat. Overall, it is expected that the polyethylene market will continue to weaken in the next working day, with the price fluctuation range for LLDPE (7042) likely between 6800-6900 yuan/ton.