Sinopec Inventories: The polyolefin stocks of the two oils were 785,000 tons, down 15,000 tons from yesterday.

Shenhua auction statistics: Today's auction volume was 1162 tons, and today's transaction volume was 801 tons. The auction transaction rate was 68.93%, down 14.98% from yesterday's 83.91%.

PE spot market analysis: Today, China's PE market continued its upward trend, with the increase of various varieties ranging from 30 to 50 yuan/ton. In terms of price: China's linear mainstream prices range from 8,160 to 8,500 yuan/ton, high-pressure prices range from 9,200 to 9,500 yuan/ton, low-pressure film materials range from 8,180 to 8,600 yuan/ton, and low-pressure wire drawing range from 8,150 to 8,750 yuan/ton. Today, the main futures market gradually shifted positions to the moon, and intraday fluctuations intensified. Stimulated by the surge in crude oil at night and early trading, the market fluctuated and pulled up. However, some multiple orders left the market in the afternoon and the market fell back, causing the spot market atmosphere to cool down accordingly. Traders made small profits and shipped goods. As the market rebounded again in the afternoon, the low prices in the spot market disappeared, and some of them reported high by around 10-20 yuan/ton on an early basis. Traders are relatively active in entering the market, purchasing appropriate amounts on dips, and mainly buying on demand at terminals, and being relatively cautious in chasing gains and taking goods. It is worth mentioning that under the strong push of petrochemicals, the center of gravity of high and low pressure prices has continued to move upwards recently. At the same time, the conversion of some petrochemicals has led to the shrinkage of low-pressure films and pipes in some regions, and market transactions are showing signs of improvement.

PE spot trend forecast: In terms of raw materials: crude oil will further set a new high, and the oil distribution market will enter the US$86 -90 region. The shift in the center of gravity of raw materials has driven up the cost of polypropylene production. Petrochemical policy: Currently, petrochemicals continue to go to the warehouse. At the beginning of the month, the performance of the two markets is still acceptable. There are still upward adjustments in major regions, and the cost of on-site supply is strongly supported. Supply: Lianyungang Petrochemical, Jiutai, Zhongke Refining and Chemical, Hainan Refining and Chemical, and Zhejiang Petrochemical have been suspended until April and May. Recently, new units such as Zhongyuan Petrochemical and Maoming Petrochemical have continued to be suspended for maintenance, and the market supply continues to shrink. In terms of demand, the overall downstream demand is relatively stable, with small overall variables. Under the comprehensive influence, it is expected that the PE market will remain volatile and strong at the beginning of the month, focusing on the market trend and spot transactions.

Mainstream quotation in PE market: yuan/ton

Analysis of PE futures: On April 3, the opening price of L2405 was 8310, the highest price was 8340, the lowest price was 8296, the position was 206493 lots, the settlement price was 8315, yesterday's settlement: 8278, the increase: 37, and the daily trading volume: 211128 lots.

China's PE Index: According to Tu Duoduo's data, on April 3, China's LLDPE spot index was 8303, up 13, or 0.16%; the LDPE film spot index was 9320, up 37, or 0.40%; the HDPE spot index was 8447, up 19, or 0.23%.