The Atmosphere Of Raw Material Market Was Quiet And The Market Was Weak. ABS Fell By 700 Rmb / Ton

Jun 09, 2022

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This week, the market atmosphere of plastic raw materials in Yuyao China plastic city was quiet and the market was weak. As the crux of the weak transaction is always difficult to eradicate, the trading atmosphere in the floor has not been significantly improved, and the resistance from the downstream continues to highlight, which continues to drag down the market. Traders are pessimistic. Under the impact of the factory price reduction of some petrochemical enterprises, profit making shipment is the mainstream operation means. Therefore, despite the ups and downs of crude oil prices, the power to drive the market is still insufficient. It is expected that the market may not be able to break through the weak situation in the short term.

Low density polyethylene (LDPE) ￥11600-12050 

The market was full of bad news, and the market fell back across the board. At present, the market is shrouded in pessimism. In the case that crude oil, monomer and petrochemical performance are not awesome, the market center of gravity continues to move downward.

However, downstream manufacturers generally believe that there is still room for the current price to go down. In the face of new lows that may occur at any time, there is no significant change in operation. Therefore, it is difficult for the demand side to turn around. It is expected that the LDPE short-term market may face some pressure.

At the weekend, the mainstream price of LDPE was ￥11600-12050. Among them, Shanghai Petrochemical q281 was ￥11800, down ￥200. N220 reported ￥12050 , down ￥150.

Daqing Petrochemical 2426h was ￥11700, down ￥150. Yangba 2426h was ￥11800, down ￥200. Lanzhou Petrochemical 2426h was ￥11600, down ￥250 . 

External market

The latest price in the Asian market is $1450-1452 / ton (CFR China), down $60 / ton; US $1590-1592 / ton (CFR Southeast Asia), down US $40 / ton. On Thursday, the latest price of ethylene monomer was $1097-1105 / ton (CFR Northeast Asia); US $1147-1155 / ton (CFR Southeast Asia), both down US $70 / ton.

Polypropylene (PP): the market performance is flat, and the market is volatile and consolidated.

This week, the market was shrouded in the shadow of public health events, and the market was in the straightening out stage. The cost is high, and some brands have increased slightly. However, due to the unclear development direction, it is difficult to mobilize the purchasing enthusiasm of downstream manufacturers regardless of the price adjustment, and the demand resistance is still obvious. Traders are calm and think that it is difficult to operate. They mainly wait for the guidance of hot spots. It is expected that the recent polypropylene market may continue to fluctuate.