Everbright Futures: Polyolefins Consolidate in Volatile Trading
On Monday, the mainstream price of raffia in East China was 7,020-7,180 yuan/ton. The profit margin for oil-based PP was -371.05 yuan/ton, for coal-based PP was 557.93 yuan/ton, for methanol-based PP was -742 yuan/ton, for propane dehydrogenation (PDH)-based PP was -293.54 yuan/ton, and for externally purchased propylene-based PP was 121 yuan/ton.
For PE, the price of HDPE film is 7,956 RMB/ton; the price of LDPE film is 9,513 RMB/ton; the price of LLDPE film is 7,411 RMB/ton. In terms of profit, the gross profit for oil-based polyethylene is -464 RMB/ton, while the gross profit for coal-based polyethylene is 970 RMB/ton.
Overall, both supply and demand will begin to recover in August, with inventories gradually shifting from the market to downstream sectors. There are no major fundamental contradictions, and as long as there is no significant increase in costs, the overall upward potential is limited.
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