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After rain and snow days, some petrochemical companies and distributors in Jiangsu have raised product prices. LLDPE (Linear Low Density Polyethylene) 7042 produced by Yangzi Petrochemical was quoted at 10,600 yuan on November 9 (t price, the same below), and raised its offer to 11,000 yuan on November 16 and then increased to 11,350 yuan on November 20. PP (Polypropylene) F401 rose 350 yuan to reach 10,300 yuan on November 20th compared to a week ago; ABS produced by Jilin Petrochemical and HIPS (high-impact polystyrene) produced by Shanghai Secco are sold on the Jiangsu market. Panjin Ethylene produced HDPE (high-density polyethylene), etc. have risen by 100 to 150 yuan in nearly a week; PVC (polyvinyl chloride) also rose by a wave of rising prices, rising by about 150 yuan.
The rise in the price of petrochemical products should be said to be directly related to rain and snow weather. Blizzard caused severe damage to the agricultural film in many areas. The market demand for agricultural film was strong, and the agricultural film accounted for 22% of LLDPE consumption. The order of relevant manufacturers began to show a hot situation, coupled with the start of the spring crop film storage in the next year, it is expected that the price of plastic film will still have a rising trend, and its price will be firmer, adding vitality to LLDPE demand. At present, the start-up situation of agricultural film production enterprises in all provinces has improved from the previous period. From September to October this year, the actual monthly output of the relevant film plant was within the range of 800 to 1,500 tons, and some enterprises with annual output exceeding 10,000 tons, the actual output was 2000. ~ 2500 tons. Due to the growing demand for agricultural film due to rain and snow, plus the peak production season of agricultural film from November to the end of each year, it is expected that such high output will continue for some time.
On the supply side, domestic polyethylene stocks declined from mid-October. China Plastics statistics show that the end of October this year compared to the end of September polyethylene stocks decline in 3.43%. The recent shortage of polyethylene by the polyethylene manufacturers has also led to tensions in the spot market. Intermediate traders have reluctant to sell their goods. In general, the spot market performed very strongly. Recently, HDPE has seen a large increase, which has a great effect on LLDPE. As the main raw material for polyethylene, ethylene, prices have steadily increased. Speculative funds have also been used to boost the demand for agricultural film. These are all aggregates including LLDPE. The rise in ethylene prices provided support. In the short term, the price of polyethylene will still have upward momentum.
Although the market price of petrochemical products is rising, from the overall view of the Jiangsu market, the enthusiasm of downstream manufacturers is not high, and the market appears to have a price increase and the transaction volume shrinks. The buyers and suppliers have room to reduce their prices. The general actual transaction is lower than the quoted price of 50 to 100 yuan, the enthusiasm of the middlemen to receive the goods is not high, the downstream inquiries are not many, holding the main wait-and-see. Businesses are more confused and cautious about the market outlook. This is due to the fact that the overall demand for petrochemical products has not increased significantly. It is expected that some petrochemical products may be consolidating after gains. Market analysts believe that in the current situation, I am afraid that the high level should not be blindly chased up, we must be alert to the risk of callbacks. Especially during the peak season, the purchasing peaks are approaching. With the digestion of good news, there is a possibility that some petrochemical products will fall back.
Jiangsu: Petrochemical Product Price Crashes
From the night of November 15, Jiangsu Province welcomed the first heavy snowfall in nearly 50 years. Rare freezing rain and snow impeded Jiangsu's transportation and brought difficulties to the import and export of raw materials and products of petrochemical enterprises. Affected by rain and snow, some roads and facilities in Jiangsu are closed. Since petrochemical products mainly rely on railway and road transport, it is difficult for foreign resources to enter the local market. In particular, the rain and snow weather in the northern region has blocked the southward movement of petrochemical products. In the near future, the supply of goods to the north from Jiangsu has been significantly reduced. Dealers have begun to reluctant to sell their products, and tentatively raised their quotation to stimulate the market. For the production companies, the snow on the ground makes it difficult to drive the vehicle. Not only has the freight rate increased since the snowfall, but the search for transportation vehicles has also become difficult. The market demand for petrochemical products is growing, coupled with the promotion of rising oil prices, futures, and tight raw material resources, petrochemical product prices have risen significantly under the influence of multiple factors.