Polyethylene PE: Spot prices are weak, market mentality is empty

Sinopec Inventory: The polyolefin inventory of the two oils was 800,000 tons, unchanged from yesterday.

Shenhua auction statistics: Today's auction volume was 500 tons, and today's transaction volume was 375 tons. High-pressure auction volume today is 0 tons, and today's transaction volume is 0 tons. Low-pressure today's auction volume is 0 tons, and today's transaction volume is 0 tons.

PE spot market analysis: Today, China's PE market is generally weak. Except for market prices in South China, high-pressure prices in East China, and low-pressure film materials prices in North China, which remain stable, prices in other markets have dropped by 10-50 yuan/ton. On the cost side, international oil prices continue to fall。On the supply side, although the daily output of PE has increased, it is at a medium level compared with the previous output, and the supply pressure is average. On the demand side, terminal demand has increased slowly, most downstream orders have insufficient follow-up, and the receiving capacity is limited. Most of them purchase raw materials PE on small orders.Overall, the market mentality is short, traders follow the market, most quotations are lower, futures are volatile upward, and the spot market is weak and consolidating.

PE spot trend forecast: In terms of raw materials, OPEC and EIA have both lowered their forecasts for global crude oil demand. International oil prices lack upward driving, and we also need to pay attention to the EIA inventory data to be released tonight. On the supply side, China plans to repair fewer PE units, and as PE units are restarted one after another, supply is expected to increase. On the demand side, entering the peak season of the Golden September period, the increase in terminal demand is limited, and companies are not able to ship, which may affect the enthusiasm of operators to enter the market to a certain extent. Overall, the polyethylene market or range is expected to consolidate in the short term.

Mainstream quotes in the PE market:

Analysis of PE futures: On September 11, the opening price of L2501 was 7891, the highest price was 7935, the lowest price was 7823, the position was 412331, the settlement price was 7877, yesterday's settlement: 7936, down: 59.

China PE Index: According to Tuduo data, on September 11, China's HDPE spot index was 7935, down 7;LDPE film spot index was 10289, down 18;LLDPE spot index was 8244, down 12.