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The PE market remains concerned about signs of a global economic slowdown and slowing fuel demand, coupled with oversupply in the United States, international oil prices have plunged further, with WTI falling to its lowest level in a year, and its settlement price fell below $
50 per barrel for the first time since October 2017.
Falling stocks in Europe and the United States also weighed on crude oil futures market sentiment
.
WTI crude oil January 2019 futures settled at $49.
88 per barrel, down $1.
32, or 2.
6%, from the previous session, trading in a range of $49.
06-$51.
87, while Brent crude oil February 2019 futures settled at $59.
61 per barrel, down $0.
67, or 1.
1%, from the previous session, trading in a range of $
58.
79-$61.
21.
The ex-factory price of PE petrochemical is stable and adjusted
.
Among them, LLDPE is mainly stable, a few grades are increased by 100 yuan / ton, and two or three grades of Shanghai SECCO are reduced by 100 yuan / ton; HDPE part of the grade adjustment 100-200 yuan / ton; LDPE minority grades are adjusted by 50-200 yuan / ton, and the increase is relatively much
.
Recent production of some PE devices:
The PE market fell steadily
.
The weak shock of the futures market put pressure on the market, merchants increased shipments, downstream terminals just needed to purchase, and the overall real performance was not good
.
LLDPE part of the grade adjustment, the range is 5-200 yuan / ton; HDPE is adjusted steadily, with a range of 25-225 yuan / ton; Some LDPE grades were adjusted, and the decline was relatively much, with a range of 15-225 yuan / ton; The HDPE of Zhejiang Plastic Mall is basically stable, and the listing prices of two grades are reported 200 yuan lower and 200 yuan / ton higher respectively; LDPE and LLDPE continued to remain stable
.
Although linear futures have been strong recently, downstream demand has gradually weakened, and the intention to purchase raw materials is not high, resulting in poor shipments by merchants, and some of them have made profits
.
In the later stage, with the resumption of operation of some domestic refining and chemical plants, the market supply pressure may increase, and the Zhejiang plastic market expects that the PE market may be weak and shocked
.
