Lack of Positive Factors Continues to Weaken Polyethylene Market

November 21st News

According to the commodity market analysis system, the average price of LLDPE (7042) on November 17 was 7,005 CNY/ton, and on November 21, it was 6,990 CNY/ton, a decrease of 0.21%. The average price of LDPE (2426H) on November 17 was 9,100 CNY/ton, and on November 21, it was 9,033 CNY/ton, a decrease of 0.73%. The average price of HDPE (2426H) on November 17 was 7,532 CNY/ton, and on November 21, it was 7,457 CNY/ton, a decrease of 1.00%.

This week, polyethylene continued to show a weak trend, with the market lacking positive support. Plant maintenance has decreased compared to earlier periods, new facilities are being commissioned, and there is an increase in future imported supplies, leading to increased supply pressure. For greenhouse films, demand has slowed down compared to previous periods; for mulch films, demand is in the off-season; downstream purchases of packaging films are lukewarm, mainly driven by rigid demand; and filament enterprises have insufficient new orders, resulting in weak operations. Overall, downstream buyers of polyethylene are cautious, and demand is weak. Crude oil prices have fluctuated widely, but their impact on the polyethylene market is limited.

The market lacks positive support, and the domestic sentiment is bearish. It is expected that polyethylene will mainly operate weakly.