June polyethylene rebounded from the decline is expected to next week's market narrow range finishing
2023/6/12
This week by the linear futures strong operation and domestic petrochemical maintenance boost, polyethylene market strong oscillation, including high pressure rose significantly, up 3.7%. The rise of high pressure is mainly due to the overhaul of 250,000 tons of high pressure plant in the middle of the month, meanwhile, Lanzhou Petrochemical, Daqing Petrochemical and Shenhua Xinjiang high pressure plant have overhaul plans in the middle of the month, and the supply of high pressure is expected to be reduced in the later period, so the market speculation atmosphere is strong, traders are willing to sell at low prices, and the market quotation is higher one after another. Linear, low-pressure varieties of the market followed slightly higher, but the demand for the off-season market, the terminal just demand is not enough, the purchase of enthusiasm is not high, the overall market shipments are flat.
Upstream ethylene, the Asian ethylene market fell sharply this week, down 6.7% from the previous week. During the week, international crude oil narrow upward, Asian naphtha prices continue a wide range of oscillations, affected by the restart of maintenance units concentrated in the second half of June, the market supply is expected to be significantly wider, coupled with sufficient downstream raw material inventory, demand is lukewarm, profit shrinkage, the plant unplanned spot procurement enthusiasm is low, July goods buying intentions continue to go down.
June polyethylene downstream traditional demand off-season, the enterprise new orders to follow up slowly, this week, the downstream industry starts than last week basically flat, of which, agricultural film starts 12%, packaging film starts 56%, film starts 53%, hollow starts 51%, pipe starts 48%, injection molding starts 50%.
In the future, next week, Lanzhou Petrochemical, Daqing Petrochemical plant overhaul, stone resources supply is expected to reduce, and international crude oil prices are still at a high level, cost support is still available, but the terminal demand off-season, just enough support, there is resistance to high prices, macroeconomic expectations are weak, market participants are cautious, the market continues to move up lack of momentum, is expected next week the market narrow range of finishing.
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