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PE market turnover stagnant PP market price firm

PE market turnover stagnant PP market price firm

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[Outside Disk Observation] As of 15:00 on June 16, China's plastics price index fell 2.65 to 1024.29 points, China Plastics's spot index fell 0.73 points to 1211.37 points.
Article Source: China Plastic Net
First, the overall overview:
[Outside Disk Observation] As of 15:00 on June 16, China's plastics price index fell 2.65 to 1024.29 points, China Plastics's spot index fell 0.73 points to 1211.37 points.
Crude oil fell sharply, plastic futures were affected by it and fell lower. The majority of the PE market wait-and-see people, inquiries declined, the transaction stalemate.
The collapse of crude oil pressured the market mentality of PP, and the attitude of the merchants remained unchanged. The offer was still firm, but the inquiry was still light and the transaction was difficult.
The PS market's offer was slightly down, and the demand was flat. There was little interest from buyers.
The ABS market offered some 5-10 USD/ton lower. Affected by the decline in oil prices, the venue is basically in a state of priceless market with few transactions. The supply of goods is normal and the downstream demand is weak.
Second, the market overview:
According to a Korean supplier, LLDPE grade material for PE cargo was quoted at US$1,550/tonne in July, and HDPE film material was quoted at US$1530/tonne, on spot, CFR China’s main port, and July shipment period.
A major supplier in the Middle East reported the June cargo offer: PP homopolymerization offer at 1540 US dollars / ton, copolymerization of 1560 US dollars / ton, transparent 1750 US dollars / ton, spot, CFR China main port, the end of June to ship.
Yangzi BASF EVA factory price stability: V5110J reported 21,000 yuan / ton, 6110M reported 22,000 yuan / ton, device production 5110J.
Iran's low-pressure membrane 5101 offer at 1325 US dollars / ton, L / C 60 days, CFR Shanghai, July shipment.
Basel drawing HP456J offer at 1520 US dollars / ton, spot, CFR Qingdao, in June shipment.
Third, the trend outlook:
The PE market was mixed, and by mid-June, some of the plastic film manufacturers had gradually begun to make reserves for the upcoming production season, and the factory's purchasing capacity would also change. The debt crisis in Europe has deepened. Crude oil fell below 95 US dollars. If the decline continues, the petrochemical and market will be under pressure again. It will be difficult for tightening monetary policy to relax in the third quarter and the market rebound is debatable. Plastics market has reached or close to the bottom, downward pressure is already not large, the market rebound needs to see the end of June changes in the central bank's control policy, the market is expected to be the main shock, but the rebound rate remains to be seen.
The central bank raised the reserve ratio for the sixth time this year. It is imperative to tighten monetary ties, and it is more difficult for the downstream SMEs to survive, and profits have shrunk. The euro zone debt crisis affects the changes in the dollar and the euro at any moment, causing fluctuations in commodities. There is uncertainty in the development of the world economy. In response to the plastic market, businesses must also maintain patience and wait for the real emergence of the market. It is expected that the short-term PP market will still be a stalemate, and businesses will pay close attention to changes in the petrochemical and renminbi markets.
The ABS/PS market price plunged, crude oil and futures fell, but although the market has a certain negative impact, downstream demand and turnover are sluggish, and the market is getting better and harder. It is expected that the short-term market will continue its downtrend if it favors support.