PE Inventory Went up W-O-W
Preface: As of June 10, China’s PE inventory went up by 2.02% from that on June 2. Hereinto, the PE inventory at upstream producers increased by 2.41% from last week, and the PE inventory at sample ports decreased by 0.32% from last week. The PE inventory at sample traders rose by 5.26% from last week.
1. China Total PE Inventory
As of June 10, China’s PE inventory went up from that on June 2. Hereinto, the inventory at major producers and sample traders moved up while that at sample ports decreased.
2. China PE Inventory at Petrochemical Companies
The inventory PE producers rose by 2.16% W-O-W and 7.64% Y-O-Y. The weekly operating rate was 81.93%, so the output increased W-O-W. The inventory at producers swelled due to the slow sales caused by the average demand.
The inventory at PE producers rallied by 13.51% from that on April 29. The weekly operating rate was low at 77.93%, which increased from last week. In the meantime, as the sales enthusiasm was not high at the beginning of a month and the demand remained weak, sales at producers were not so good.
3. China PE Inventory at Ports
PE port inventory inched down by 0.3% W-O-W. The arrivals of imported resources remained low. As for sales, China’s domestic demand was average and uses still adopted a cautious stance. The logistics at some places in East China resumed, so the inventory declined amid the increased delivery of goods. The inventory in South China and North China accumulated slightly.
4. China PE Inventory at Trading Companies
PE inventory at traders increased by 5.3% W-O-W. There was no obvious improvement in demand. Downstream plants purchased feedstock on a hand-to-mouth basis, leading to flat sales.
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