The hottest LLDPE futures fluctuated downward, and

2022-08-09
  • Detail

[LLDPE] futures fluctuated downward, spot LLDPE operated at a low level

I. brief description of the market

lldpe futures fluctuated downward at the opening, and it was difficult for merchants to improve their pessimism. There was a general situation of no one picking goods in the market. Although some manufacturers were purchasing, the purchase prices were at many low levels, and merchants were not willing to deliver goods. Businesses lack confidence and generally report serious losses and difficult transactions

II. Upstream market overview

New York Mercantile Futures Exchange (NYMEX) - U.S. crude oil futures fell to a five month low on Monday, and June crude oil futures contract clm2 fell $1.35, or 1.4%, with the settlement price at $94.78 per barrel. The reason is that Greece's inability to form a new government has made investors worried that Greece may withdraw from the eurozone and that China's economy may continue to slow down, causing a general decline in the commodity market

on Monday, Asian ethylene closed lower, CFR Northeast Asia fell 30 to US dollars/ton, and CFR Southeast Asia fell 40 to US dollars/ton. Downstream polyethylene demand is sluggish and showing a shrinking trend, and rigid demand is full of bad news

III. local market conditions

LLDPE market quotation continued to fall today. Merchants are more cautious, and most of them ship according to the market, and the transaction is still poor

the PE market quotation in Ningbo continued to weaken. Futures jumped short and opened low in the morning, with merchants giving priority to selling goods at a profit one after another. Downstream inquiries were light, and most of them intended to trade at a low price. The overall transaction was weak

the linearity of Shanghai PE market continued to decline, the overnight oil price fell, the futures jumped short, opened low, and went low. The mentality of merchants was frustrated, and they began to sell goods at a profit. There were many linear sources of goods that reported low prices, with small declines in high and low prices, strong wait-and-see terminal inquiries, and weak transactions

it is certain to take a step further in the future. The PE price in Qilu Chemical City has fallen significantly, the international oil price has dragged down the futures opening sharply, the market merchants have a poor mentality, and the firm offer makes profits to seek a deal

IV. the latest quotation

1. Petrochemical quotation

the listing price of PetroChina northwest LLDPE is stable: 7042 (Lanzhou) is reported at 10200 yuan/ton

the listing price of CNPC North China LLDPE is stable: 7042 (Daqing) is reported at 10320 yuan/ton, 7042 (Jihua) is reported at 10320 yuan/ton, 7042 (Dushanzi/Lanhua main machine part is composed of 4 columns, upper beam, middle beam and workbench portal frame) is reported at 1015.70320 yuan/ton, 7042n (Lanhua) is reported at 10320 yuan/ton, 7047 (Daqing) is reported at 10320 yuan/ton, 0209aa (Dushanzi) is reported at 10320 yuan/ton

the listing price of PetroChina Southwest LLDPE fell individually: 7042 (Lanhua) fell 200 yuan/ton to 10000 yuan/ton, and 7042 (Dushanzi) fell 200 yuan/ton to 10000 yuan/ton

2. Mall quotation

as of 15:00, some brands of China Plastics' spot LLDPE have fallen by yuan/ton, of which 218w/sabic Saudi Arabia has the lowest price of 10300 yuan/ton, 3224/Taiwan plastics has the lowest price of 10100 yuan/ton, dfda-7 production capacity is expected to increase by about 3000 tons per year 042/Zhenhai Refining and chemical has the lowest price of 9900 yuan/ton (down 100), ll0220kj/Shanghai Secco has the lowest price of 9950 yuan/ton (down 50)

v. future forecast

due to the failure of the negotiation on the formation of a new government in Greece, worries about the European debt crisis have intensified. Political uncertainty in the eurozone and the sluggish global economic outlook weighed on markets. The spot market fell under pressure, and weak fundamentals also pressured the spot price. In terms of consumption, it is expected that the continued downturn in the real estate industry will have a greater negative impact on the plastic raw material market. At present, buyers in the terminal market are cautious about entering the market, spot transactions are unsalable, the price is difficult to stop falling and stabilize, and it also shows a downward and volatile trend in the later period

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