China Domestic PE Price Declines due to Weakness
EricaShelley 
27 
According to Todudu data monitoring, the domestic LLDPE (7042) price was RMB 8,417/mt on December 5, and the average price was RMB 8,370/mt on December 9, a decrease of 0.56% year-on-year, and a decrease of 0.51% compared with that of December 1st.
According to the monitoring of TuoDu data, the average price of LDPE (2426H) ex-works was RMB 9,283/mt on Dec. 5th and RMB 9,283/mt on Dec. 9th. The asking price was stable during the period, down 0.54% from December 1st.
According to Rabbit Doodle data, the average price of HDPE (5000S) ex-works on December 5 was RMB 8400/mt, and on December 9 was RMB 8400/mt. The asking price trend was stable during the period, unchanged from December 1st.
This week PE while LLDPE prices were weak, LLDPE prices were weak Monday's HDPE prices remained stable after the price reduction. Weak crude oil prices put pressure on the domestic PE market. Some companies' equipment has been closed for maintenance and PE product supply has been reduced. The domestic quarantine policy has been relaxed and logistics and transportation have been eased, but the downstream demand is poor and the orders of the companies have been reduced.
Supply: With the resumption of equipment maintenance work next week, supply is also expected to recover. On the demand side, on-demand purchases dominated the market. The market outlook is pessimistic due to domestic public events. The Chinese PE spot market is expected to be mainly weak.
Please feel free to contact toodududu (tdd-global@toodudu.com) if you have any questions.
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