The polyethylene spot market may continue to weaken in the short term

This week's market bearish factors are stronger, first of all, petrochemical enterprises collectively lowered the factory price, the reduction range was 200-1200 yuan / ton, Liansu futures fell significantly during the week, bearish spot market mentality
.
Thermal coal prices have declined, the effect of intervention policies has appeared, coal production has increased, supply tightness has eased, coal production capacity has been released in stages, coal prices have fallen, and cost support has weakened
.
However, due to the impact of power rationing on the terminal is still there, the peak season in demand is not strong, the downstream maintenance just needs to enter the market, the overall transaction atmosphere of the market is not good, the merchant price is weakening, and the real price focuses on a single talk
.

Liansu futures fell broadly this week, bringing obvious
bearishness to the spot market.
On October 28, polyethylene futures 2201 opened at 8730, the highest price was 8875, the lowest price was 8570, the closing price was 8760, the previous settlement price was 8895, the settlement price was 8700, down 135, or 1.
52%, the volume was 593760, the position was 246379, and the daily increase was -24427
.
(Quotation: yuan/ton)

At present, the market trading atmosphere is not good, the overall trend of the three major varieties of PE spot is sluggish, and petrochemical companies have significantly reduced their factory prices
.
The downstream mentality is cautious, and more maintenance of on-demand replenishment, and the enthusiasm for entering the market is not good
.
In terms of demand, the impact of electricity is limited, and the downstream improvement is general, showing a trend
of low peak season.
It is expected that the PE spot market may continue to weaken in the short term
.