I. Focus Points

3/21: The market believes that the Asian economy and demand are expected to improve, and the instability in the Middle East still brings potential supply risks, leading to an increase in international oil prices. NYMEX crude oil futures for May contract rose by $0.21 to $68.28 per barrel, a sequential increase of +0.31%; ICE Brent crude oil futures for May contract increased by $0.16 to $72.16 per barrel, a sequential rise of +0.22%. China's INE crude oil futures main contract 2505 rose by 9.3 to 531.3 yuan per barrel, and in the night session, it increased by 4.4 to 535.7 yuan per barrel.

2, the domestic polyethylene spot market price fell by 6-17 yuan/ton on the previous day. The imbalance in market supply and demand continued last week, with a slow recovery in demand, making it difficult to effectively bear the pressure from the supply side. Some production enterprises lowered their ex-factory prices, further eroding market confidence. Merchants generally faced pressure and had to offer discounts to sell, resulting in a mainly downward trend in market prices.

3, last week (20250314-0320), the overall operating rate of agricultural films increased by 1.05% compared to the previous period; the operating rate of PE pipes increased by 3.17% compared to the previous period.

II. Price List

Three, Market Outlook

This week, the recycled PE market has seen light trading, with prices remaining stable for now. Currently, the supply of goods in the market is acceptable, and manufacturers are flexibly producing, indicating a relatively ample short-term supply. There are few positive factors on the demand side, with downstream factories not receiving many new orders, making it difficult for short-term demand to improve. Additionally, the decline in substitute products negatively impacts the demand for recycled materials. It is expected that the market demand will not improve in the short term, and the sentiment among recyclers is poor, with following the market trend being the main theme.