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On May 9, the PE market quotation fell by 50-100 yuan / ton
.
The plastics spot market was weighed down by the volatility of futures
.
Coupled with the pullback of some ex-factory prices of PetroChina and Sinopec, the favorable support of cost has weakened, which is difficult to stimulate buyers
' enthusiasm for buying.
Traders said they needed to be cautious.
From the international market, WTI crude oil futures closed up $0.
21, or 0.
45%, at $46.
43 per barrel
.
Brent crude futures closed up $0.
24, or 0.
49 percent, at $49.
34 a barrel
.
In the domestic market, CNPC North China LDPE, LLDPE, HDPE film reduced by 100 yuan / ton, and CNPC Southwest PE reduced by 50-200 yuan / ton
.
In summary, petrochemical has limited new maintenance equipment, and downstream terminal demand is weak and difficult to change, which is difficult to alleviate the inventory pressure in the PE market, especially plastic futures maintain a weak volatility
.
The increase in ex-factory prices of PetroChina and Sinopec could not provide positive support, and the spot market was not supported by favorable factors
.
It is expected that the PE market will continue its weak downward trend
tomorrow.
