The International Energy Agency raised the oil demand forecast for 2023 to the highest level in history, and believed that the supply would be in short supply. The data of the United States Energy Information Agency showed that the crude oil inventory in the United States surged last week, the demand for gasoline fell, the crude oil futures in Europe and the United States fell slightly, and the strengthening of the dollar exchange rate also depressed the oil market atmosphere in the United States dollar. On Wednesday (February 15), the futures settlement price of West Texas light crude oil in March 2023 on the New York Mercantile Exchange was 78.59 dollars per barrel, down 0.47 dollars or 0.6% from the previous trading day, with a trading range of 77.25-79.15 dollars; The settlement price of Brent crude oil futures in March 2023 on the London Intercontinental Exchange was US $85.38 per barrel, down US $0.20 or 0.2% from the previous trading day, with a trading range of US $83.88-85.85.
[PE market]
Linear futures opened at a low price and fluctuated downward, dampening the trading confidence of market participants. Most of the petrochemical ex-factory prices were stable, and the shippers were accompanied by the offer of interest, and the intention of receiving goods from the terminal factory was cautious, and the firm offer focused on negotiation. Market reference: Hebei PE market, 2426F 9000; LD605 Zhongtian 8850; 18D 9100； Zhongtian LD100AC 8750-8800; Qing 2426H 8950-9000; Zhongtian LD251 11200-11300; Lan 2426H 8950-9000; Shenhua 2426H 8900; Qing 2420D 9150.
Today’s forecast: It is expected that the market will narrow down today.
[PP market]
Yesterday, the market price was narrow, the upstream market stimulus was difficult to find, the terminal follow-up was general, and the short-term spot was lack of boost, and the consolidation trend would continue. Market reference: Shenyang PP market Daqing Petrochemical T30S reported 7950 yuan/ton, Daqing Refining and Chemical T30S reported 7800 yuan/ton, Fushun L5E89 reported 7800 yuan/ton, Jinxi Petrochemical 1102K reported 7800 yuan/ton, Fushun Z30S reported 8000 yuan/ton.
Today’s forecast: the market is expected to decline in a narrow range today
【 PVC market 】 Futures opened low and rose high yesterday, individual offers in the spot market were adjusted, and merchants’ shipments were general, and the deal was negotiated. The price of PVC production enterprises has not changed much, and some of them have not yet offered new prices. Downstream wait-and-see is the main reason, procurement is limited, and the overall market transaction is weak. Market reference: The market price of PVC in Hangzhou is about 6220-6350 yuan/ton for the main stream of calcium carbide 5 type material, 6220 yuan/ton for Sanlian 5 type material, and 6260-6280 yuan/ton for Jintai/Yihua/Tianhu 5 type material.
Today’s forecast: In the short term, the PVC market price will remain volatile.
[PS market] Yesterday, the market price fell, crude oil fell under pressure, styrene lacked the guidance of news, PS manufacturers still had a reduction, merchants’ shipment and storage resistance, and some or maintain the sale of profit. Market reference: the mainstream price of GPPS in the East China market is 8750-10700 yuan/ton, and the mainstream price of HIPS is 9650-10900 yuan/ton.
Today’s forecast: the market is expected to weaken slightly today.
[ABS market] Yesterday, the market was weak and fell slightly. There was a lack of buying follow-up. There was a large resistance to the shipment of merchants. Many petrochemical manufacturers had recently reduced their prices. The trend of styrene was not good. There was a lack of cost support. The confidence of the operators was insufficient. Market reference: The mainstream price of domestic supply in East China ABS (acrylonitrile butadiene styrene) market is 10700-11650 yuan/ton.
Today’s forecast: It is expected that the market will be weak today.
[PET bottle chip market] The international oil price fell slightly, and the cost side support was insufficient. The spot supply of PET bottles and tablets is stable, but the demand of downstream factories is slow to follow up, the intention of entering the market to get goods is still weak, and the market trading is poor.
Today’s forecast: It is expected that today’s PET market will be weak and volatile.
[PET waste recycling market] Yesterday, the market segment of recycled bottle chips was consolidated, and the focus of market transaction negotiation was basically maintained. The supply of raw materials is general, the price of raw bottles is tight, the quantity of regenerated bottles in the field is limited, and the cleaning plant mainly locks the profit and sells the goods. The terminal demand is general, the chemical fiber factory shipments are slow, the raw material procurement is cautious, and the bargain-hunting is mainly based on demand.
Today’s forecast: it is expected that the market segment of recycled bottle tablets will be stalemate
[PE scrap market] The market of recycled PE is general, mainly with small orders. The demand release is not strong and the price difference between new and old materials is narrow. The downstream product manufacturers have insufficient confidence in the future market, so they purchase more small orders. Regenerative manufacturers produce and sell at the same time. Supported by costs, they are reluctant to sell at low prices.
Today’s forecast: It is expected that the price of recycled PE will mainly fluctuate and consolidate
[PP scrap market] The cost of recycled PP market continued to support yesterday, and the price remained weak. In the short term, the increase of orders from downstream product factories is limited, and the price difference between new and old materials is narrow, so it is difficult to improve the demand side of recycled PP. At present, enterprises have little intention of raising prices, and most of them keep prices stable. Reference for mainstream offer: 6300-6400 yuan/ton for white transparent primary particles; The mainstream price of white PPR crushed material is 5700-5800 yuan/ton, which is the same as yesterday’s price
Post time: Feb-27-2023