Q3 PE Price Likely to Rise on Improved Demand
In June, downstream users purchased PE limitedly amid the demand slack season, stunting the overall PE price increment. Most market participants hold a bullish sentiment toward China’s domestic market, while uncertainties are seen in the overseas market. Currently, China’s LLDPE price is around RMB 7,830-8,300/mt and it’s envisaged to increase limitedly in the short term. With the intensive unit maintenance in Q3, the supply of Chinese-made PE will likely decline. In addition, the downstream demand for greenhouse film and packaging materials will gradually improve during the shopping carnivals and school season. Therefore, the price is expected to recover in August and September fueled by favorable orders amid the demand peak season in Q3.
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