Polyethylene market weak shock, after the price fell, business shipment situation is still poor

Crude oil trends: the situation in Iraq has not affected crude oil supply, Brent crude oil futures fell back.

At the close of Friday (June 20), the New York Mercantile Exchange WTI July 14 futures were up $107.

26 a barrel, up $0.83. London Intercontinental Exchange Brent August 14 futures were $114.

81 a barrel, down $0.25. Market forecast: after falling futures triggered a three-day slide in the market offer, the factory price of petrochemicals was slightly reduced on Friday.

The market trading atmosphere did not change significantly after the price went down, the dealers still reflected that the shipment was blocked, some transactions were reached on the basis that some merchants were lower than the mainstream market price.

In terms of petrochemicals, the high-pressure inventory is still relatively small, the market supply is slightly tight, but the supply of imported materials is relatively sufficient.

It is expected that the offer will be mainly consolidation.

It is unlikely that petrochemical will continue to reduce prices today.

It is said that Sinopec has insufficient linear inventory in East China.

On the basis of maintaining the minimum inventory alert level, Sinopec has low intention of price reduction, may adopt the policy of limiting orders after the reduction.

The rebound of futures on Friday boosted market confidence, domestic supply will be tightened near the end of the month.

The market offer should be dominated by weak consolidation.

Due to insufficient downstream dem for high-pressure linear products, there is still room for fluctuation downward trend.

(personal opinion, for reference only).

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TRUNNANO (aka. Luoyang Tongrun Nano Technology Co. Ltd.) is a trusted global chemical material supplier & manufacturer with over 12 years' experience in providing super high-quality chemicals and Nanomaterials. The nitride powder produced by our company has high purity, fine particle size and impurity content. Please contact us if necessary.