Polyethylene Weakens with Fluctuations, Trading Remains Light Before the Chinese New Year

February 11 news

According to the commodity market analysis system, the average price of LLDPE (7042) on February 5 was 6,915 CNY/ton, and on February 10 it was 6,790 CNY/ton, a decrease of 1.81%. The average price of LDPE (2426H) on February 5 was 8,916 CNY/ton, and on February 10 it was 8,733 CNY/ton, a decrease of 2.06%. The average price of HDPE (5000S) on February 5 was 7,392 CNY/ton, and on February 10 it was 7,375 CNY/ton, a decrease of 0.24%.

Recently, polyethylene as a whole has shown a weak and volatile trend, with light trading before the holiday in China.

Supply side: A large number of new facilities are still scheduled to come online in 2026, making it difficult to reverse the medium- and long-term oversupply situation.

On the demand side: The season is in the off-season, and trading activity is light. As the Spring Festival approaches, downstream factories are gradually shutting down for holidays, with particularly noticeable declines in the operating rates of agricultural films and packaging films. Logistics operations are gradually coming to a halt, and pre-festival procurement has largely wrapped up. The market is now dominated by essential, immediate needs, and new orders are few and far between.

Cost side: Crude oil prices are volatile, with unstable support.

In the short term, weak demand is dominant, with costs and geopolitical factors providing disruptions. It is expected that polyethylene will experience a narrow range of fluctuations.