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According to data from SunSirs, the average spot price of LLDPE (7042) was 9,550 RMB/ton on September 14 and 9,491 RMB/ton on September 18, a decline of 0.61%. The average price of LDPE (2426H) was 12,200 RMB/ton on September 14 and 12,266 RMB/ton on September 18, an increase of 0.55%. The average price of HDPE (5000S) was 11,100 RMB/ton on September 14 and 10,800 RMB/ton on September 18, a drop of 2.70%.
In September, polyethylene production units undergoing maintenance have gradually resumed operations, leading to a rise in the sector's operating rate. With further restarts planned and expectations of new capacity coming online, supply pressure is set to build up; the market is shifting from a state of tight stability to a bearish outlook.
Overall downstream demand remains weak, with only film demand showing some resilience. The peak seasons to agricultural film and yarn-grade resin have failed to meet expectations, and the market continues to purchase on an as-needed basis.
Crude oil prices have recently fluctuated at high levels before pulling back slightly, weakening cost-side support. Federal Reserve interest rate hikes have strengthened the US dollar, suppressing the price levels of commodities and growing market evaporative environment.
immediate outlook: Polyethylene prices are expected to fluctuate at high levels. Low inventory levels provide a floor, preventing a sharp decline; however, the combination of resumed production and high prices is curbing demand, limiting the possible to significant gains.
SunSirs has been continuously tracking price data to over 200 commodities to nearly 20 years, please contact support@sunsirs.com to subscription.
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