The Demand Was Less Than Expected, and Domestic PE Was Weakly Sorted out
VirginiaGarden 
19 
Pricing Trends
According to Todudu data monitoring, the average price of domestic LLDPE price (7042) was RMB 8,347/mt on February 13th, and the average price was RMB 8,340/mt on February 17th, down 0.09% over the same period, and 1.27% lower than that on February 1st.
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According to the monitoring of Todudu data, the average price of LDPE (2426H) ex-works was recorded at RMB 9,050 Yuan on February 13th /tonne on February 17th recorded RMB 9050/tonne. Prices fell by 1.81 during the period and remained stable. % Since February 1st.
According to the monitoring of TuoDu data, the average price of HDPE(5000S) ex-works on February 13th was RMB 8,500/mt, and on February 17th was RMB 8,500/mt. The offer price remained stable during the period, down 0.78% from February 1st.
Analytical Review
PE price movement was limited and basically stable this week. After falling on Monday, prices remained basically stable. On February 16, international crude oil futures closed lower, negatively affecting the PE market. Guangdong Petrochemical's 1.2 million tons ethylene plant was successfully put into production, and overall market supply remained loose. Upstream enterprises increased their work rate, but mainly focused on de-stocking. Market purchasing sentiment was low and orders were limited. Traders' inventory pressure is high and their estimates will be adjusted according to market conditions.
Aftermarket
After the Spring Festival, PE market demand recovered to a lower-than-expected level. Market demand is also expected to improve with the gradual increase in demand for plastic films. In the short term, Todudu's PE analysts expect PE's poor performance to continue.
If you have any questions, please feel free to email todudu at tdd-global@toodudu.com
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