On the 20th, the downstream demand was poor, and t

On the 20th, the downstream demand was poor, and the PE market price remained stable.

I. Market Overview

international crude oil rose, Asian naphtha rose, and Asian ethylene closed flat. The ex factory prices of PE from major domestic manufacturers are mainly stable, and the prices of linear and high-voltage brands are increased. The quotation of linear brands in the domestic PE market is mainly stable, and the prices of brands in some regions have increased or fluctuated slightly. There is a strong wait-and-see atmosphere in the market, the mentality of merchants is stable, and the downstream takes more on demand, and the trading volume has not increased with the rise of prices. Therefore, most of the upstream and market speculation are large, and the expectation of continued sharp rise in the later period is not strong, until the downstream demand picks up

II. Fundamental analysis

1. Driven by the improvement of U.S. economic data, the positive financial results of U.S. listed companies and the weakening dollar, international oil prices rose on the 19th. At the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange rose by $1.57 to close at $97.50 a barrel, or 1.64%. The price of Brent crude oil futures for September delivery in London market rose $1.01, or 0.87%, to close at $117.06 a barrel

2. Asian naphtha prices rose to a high of more than nine weeks on Tuesday. In the first half of September, the price of naphtha naf-1h-tyo rose by $10.00 to $987.00 per ton, the highest since May 13. Most traders were not convinced that Asian fundamentals had improved, saying inventories were abundant and overall demand was weak. "From a fundamental point of view, there is really no factor to promote the Asian market," said a trader in North Asia. The main reason for the strengthening of the cracking spread is Europe, which needs naphtha blended gasoline. However, Japan, which has not bought the spot goods in August, may emerge in the market. Japan's naphtha terminal has a normal level, and they may buy the September shipment

3. On July 19, the closing price of Zhouzhou ethylene market closed flat. CFR Northeast Asia quotation 1143 5 dollars/ton; CFR Southeast Asia quotation 1160 5 dollars/ton. Affected by the typhoon, ships were shut down along the coast of Japan, and the supply of goods increased indefinitely in the later stage, but the supply of goods from the Middle East was still abundant. About 9000 tons of Iranian goods reported last week will be landed in the near future, and the firm offer is unknown. On the other hand, the European ethylene market is slightly on the rise, the arbitrage window from Asia to Europe is slowly opening, and the increase of export supply is conducive to alleviating the situation of excess supply in the region. Yesterday, the spot market negotiation was light, and no transaction was heard. In terms of devices, Malaysia Titan 260000 T/a No. 1 naphtha steam cracking unit is scheduled to shut down on Saturday for about five days of routine maintenance. Recently, PTT polyethylene plant with an annual output of 1million tons in Thailand plans to shut down for maintenance for days

4. Today, the ex factory prices of PE from major manufacturers are mainly stable, and the prices of linear and high-voltage brands are increased. In terms of linearity: major manufacturers' 7042 mainstream quotation range is yuan/ton, Guangzhou petrochemical, Maoming Petrochemical and Fujian United raised their ex factory quotation by 100 yuan/ton, and the prices of other manufacturers' brands remained stable; Low voltage: the mainstream quotation range of 5000S from major manufacturers is yuan/ton, and the ex factory prices of all manufacturers remain stable; In terms of high voltage: the main range of 2426h is yuan/ton, and the factory quotation of Maoming Petrochemical, PetroChina northeast and South China has been increased by 100 yuan/ton

III. Market Overview

international crude oil futures rose, Asian naphtha rose, and Asian ethylene closed flat. The quotation of linear brands in the domestic PE market is mainly stable, and the prices of brands in some regions have increased slightly. The mainstream transaction price of LLDPE in the domestic market is between yuan/ton, the high-pressure mainstream transaction price is between yuan/ton, and the low-pressure mainstream transaction price is between yuan/ton

1. The linear price of PE market in North China fluctuates slightly, the market has a strong wait-and-see atmosphere, the trading situation is general, the mentality of merchants is stable, the downstream demand is poor, and there is room for negotiation. Linear mainstream price yuan/ton. 1c7a reported yuan/ton, hm.0 reported 14950 yuan/ton, ld607 reported 13550 yuan/ton, ld608 reported 13700 yuan/ton, ld450/400 reported yuan/ton, LD100 reported 13000 yuan/ton, ld160as reported 13300 yuan/ton, Yanshan 5000S reported 11300 yuan/ton, Daqing 5000S reported yuan/ton, Jixiang and other well-known car enterprises' suppliers, 1508s reported 11850 yuan/ton, 5200b reported 11600 yuan/ton, Dushanzi t reported 10500 yuan/ton, 8008 yuan/ton, 8920 reported 11300 yuan/ton, 9520 yuan/ton, etc.2911 quoted 11950 yuan/ton

2. The quotation of East China PE market is mainly relinked, and the serial port line is stable. There are few sources of goods in the market. Merchants actively ship goods, but the downstream demand is weak, and the transaction is deadlocked. The actual transaction is more negotiated. Linear mainstream price yuan/ton. Shanghai Petrochemical mh602 reported 11550 yuan/ton, Shanghai Jinfei 5502 reported 11520 yuan, Formosa Plastics 9001 reported 12050 yuan/ton, Shanghai Secco 5502fa reported 11350 yuan/ton, and Daqing Petrochemical 5000S reported 11350 yuan/ton. Shanghai Petrochemical q281 reported 13850 yuan/ton, Yanshan Petrochemical ld100ac 14150 yuan/ton, Daqing Petrochemical 2426h 13520 yuan/ton, Qilu Petrochemical 2102tn26 13650 yuan/ton, Yanshan Petrochemical 1c7a 16450 yuan/ton

3. The linear price of PE market in South China is mainly stable, and the market quotation in some regions rises slightly. The market supply is normal, the merchants' mentality is stable, the downstream is more wait-and-see attitude, the inquiry is general, and the actual transaction negotiation is mainly. Linear mainstream is in yuan/ton. Maoming Petrochemical reported 13350 yuan/ton, 12425 yuan/ton, 2426k 13175 yuan/ton, 2426h 13275 yuan/ton; Daqing Petrochemical reported 13200 yuan/ton for 2426k and 3000 yuan/ton for 2426h according to the standard requirements; Maoming Petrochemical 5002 reported 10775 yuan/ton; Daqing Petrochemical 5000S reported 11400 yuan/ton Figure 2 ⑴ 5 (b)] reduce 1 and add 1 half respectively, Maoming Petrochemical tr144 reported 10790 yuan/ton, Jilin Petrochemical 9455f reported 11275 yuan/ton, Lanzhou Petrochemical 8008 reported 10750 yuan/ton

IV. outlook

US economic data improved, US listed companies reported positive earnings, the dollar weakened, international crude oil rose, Asian naphtha rose, and Asian ethylene closed flat. The ex factory prices of PE from major domestic manufacturers are mainly stable, and the prices of linear and high-voltage brands are increased. The quotation of linear brands in the domestic PE market is mainly stable, and the prices of brands in some regions have increased or fluctuated slightly. There is a strong wait-and-see atmosphere in the market, the mentality of merchants is stable, and the downstream takes more on demand, and the trading volume has not increased with the rise of prices. Therefore, most of the upstream and market speculation are large, and the expectation of continued sharp rise in the later period is not strong, until the downstream demand picks up. PE market price is expected to fluctuate slightly in the near future

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content