According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7240 yuan/ton on October 1st and 7106 yuan/ton on October 30th, a decrease of 1.84%. LDPE (2426H) had an average price of 9596 yuan/ton on October 1st and 9350 yuan/ton on October 30th, a decrease of 2.57%. The average price of HDPE (2426H) on October 1st was 7912 yuan/ton, and on October 30th it was 7650 yuan/ton, a decrease of 3.32%.
The performance of polyethylene in October was not good, and in the latter half of the year, linear products rebounded slightly due to macroeconomic favorable factors. After the National Day holiday, polyethylene inventory has accumulated, coupled with an increase in imported resources arriving at the port and the imminent production of new domestic capacity, resulting in significant pressure on the supply side. In October, agricultural film was in the peak demand season, with an increase in production rate compared to the previous period. However, some factories slowed down their follow-up orders in the later stage, resulting in lower demand compared to the same period in previous years. Downstream orders mainly maintained the need to replenish inventory, which limited support for the polyethylene spot market. Producers and traders are actively lowering prices to reduce inventory, leading to a weakening of the polyethylene market.
The supply and demand fundamentals of polyethylene are still weak, and it is expected that polyethylene will mainly operate weakly, but the downward space is limited.