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On March 9, the domestic HDPE market stabilized after rising
.
With the rising price, the resistance of downstream factories has become stronger, and the resistance from the demand side has become more prominent, resulting in the difficulty of transaction turnaround, and the speculation mentality of traders has gradually changed
from excitement to caution.
International crude futures fell sharply on Tuesday, with NYMEX's U.
S.
benchmark WTI light sweet crude futures settling down $1.
40, or 3.
7 percent, at $36.
50 a barrel, and London's Intercontinental Exchange (ICE) global benchmark Brent crude futures down $1.
19, or 2.
9 percent
, at $39.
65 a barrel.
On Tuesday (March 8), the price of ethylene in Asia was stable, and the CFR Northeast Asia price held steady to close at 1099.
5-1101.
5 US dollars / ton; CFR Southeast Asia prices held steady at $1089.
5-1091.
5/mt
.
In the spot market, HDPE market quotations fluctuated
slightly.
Demand continued to be flat, and the real transaction was a single talk
.
Some pricing in the East China HDPE market of CNPC was raised, with 6097 (Daqing Petrochemical) at 9100 yuan / ton, 2911 (Fushun Petrochemical) up 100 yuan at 8800 yuan / ton, and 5502 (Dushanzi Petrochemical) at 9200 yuan / ton
.
The listed price of HDPE in the southwest of CNPC was raised, with 5502 (Dushanzi Petrochemical) up 50 yuan to 9500 yuan / ton, 2911 (Fushun Petrochemical) up 50 yuan to 9400 yuan / ton, and 9455F (Sichuan Petrochemical) up 50 yuan to 9350 yuan / ton
.
Some pricing in the HDPE market of CNPC North China was raised, with 4801 (Dushanzi Petrochemical) up 100 yuan to 9020 yuan / ton, 2911 (Fushun Petrochemical) up 8800 yuan / ton, and 6097 (Daqing Petrochemical) up 100 yuan to 9200 yuan / ton
.
In summary, the HDPE market sentiment has cooled down compared with the previous period, but the overall situation is still good
.
Driven by the strengthening of the upstream market and the increase of individual petrochemical companies, the market tends to rise
.
However, after the general rise, downstream enterprises have limited ability to accept high prices, and they purchase on demand and operate with low inventory, so the start of demand still takes time to cooperate
.
It is expected that the recent HDPE market will change according to the adjustment of demand, and some varieties may still rise
.