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Although some maintenance equipment is planned to start, the downstream terminal demand of the PE market is favorable and the improvement is limited, but there are still some equipment shutdown overhaul, the overall inventory pressure of PetroChina and Sinopec is not large, and the difference between plastic futures and spot prices widens, inhibiting the decline space of futures, long and short confrontation, it is expected that the PE market will maintain a volatile market next week, and futures will need to cooperate with
the spot rise.
Plastic futures extended their decline this week and dragged down some ex-factory prices of PetroChina and Sinopec, which was difficult to stimulate buyers' enthusiasm for buying, and spot speculative demand decreased
.
This week, the downstream terminal maintained on-demand procurement, and the operating rate of downstream factories did not change
significantly from last week.
Among them, the average operating rate of PE packaging film manufacturers is 45%-50%; The average operating rate of prepared product manufacturers is about 50%; The average operating rate of agricultural film manufacturers is 30%-40%; The average operating rate of the equipment of hollow products manufacturers is about 45%; The operating rate of pipe manufacturers is 40%-45%; The average operating rate of injection molding products manufacturers is 45%-50%.
This week, PE manufacturers lost about 72,700 tons of output due to equipment maintenance, an increase from last week (about 49,800 tons), and the operating rate of PE manufacturers decreased from last week
.
There are fewer new maintenance units next week, while the Zhenhai Refining PE plant is scheduled to start, and the unit operating rate is expected to be higher than this week
.
In summary, due to the lack of strong stimulation in the downstream market, PE market quotations will remain weak
in the near future.
