In 2019, the current basis range of China's PE period is narrower than that in 2018.
Judging from the basis difference between the price of North China Coal Chemical Industry 7042 and the settlement price of LL's main contract, the annual premium and discount range is within 520 yuan / ton, and the basis is mostly in the positive value
In December, the PE basis turned negative again.
From a fundamental point of view, most of China's PE plants ran smoothly in December, and petrochemical inventories and port inventories both fell to seasonally low levels.
By December 26, the PE basis had fallen.
It is -260, reaching the low level of the year
Judging from the new prices of Sinopec East China at the beginning of the year, although some PE sources have increased at the beginning of the year, the range is limited, and the price increases are concentrated in the brands with lower price base and some LLDPE (unconventional standard products) containing opening agents with less supply
In general, the supply and demand in the plastics market were weak in January, and the end of the year was approaching, the market liquidity was tight, and the overall atmosphere gradually became dull