China’s imports of polyethylene prices from the end of June rose that outstanding performance, part of the level is close to the annual highs to low-pressure film and low-pressure hollow performance of the most prominent.
According to the data, as of August 25, low-pressure film China’s weekly valuation assessment in the 1,120-1,160 US dollars / ton, up 72.5 US dollars / ton, reaching the highest point of nearly 6 months; the same time, low-pressure hollow China Hong Kong weekly valuation assessment in the 1,105-1,155 US dollars / ton, compared with the end of the rise of 110 US dollars / ton, reaching the highest point throughout the year.
Imports of polyethylene prices continued to rise this week, domestic traders said that low-pressure film and low-pressure hollow concentrated trading range in the 1,150-1,195 US dollars / ton and 1,120-1,155 US dollars / ton.
Market participants believe that tight supply and the appreciation of the yuan against the US dollar is the main reason for the increase in imports of polyethylene prices.
Although most of the oil-based polyethylene plant completed the conventional plan by the end of July, but the market is expected in September coal-made polyethylene spot reduction.
Shaanxi Pucheng Clean Energy plans to carry out a one-month overhaul of its 300,000-tonne full-density unit on September 10; Shenhua Baotou plans to carry out its 15-day-old full-density unit on September 4 for 15 days Overhaul. Maintenance of the two sets of equipment is expected to loss of polyethylene production reached a level of more than 30,000 tons.
At the same time, the supply of imported goods is also approaching, especially from Iran and the United States supply. In addition to the already existing letter of credit, some Iranian devices heard from the end of July by the absence of ethylene and maintain a low start level.
Iran’s Ilam Petrochemical heard in the middle of July to repair its 300,000 tons / year low-pressure device, has not yet resumed driving, while other devices such as Iran’s AKPC, Lorestan, Mahabad Petrochemical heard from the end of July to maintain low-load production. Some traders also commented on the delay in the Iranian cargo.
In addition, the US import source is also expected to approach in the second half. Influenced by hurricanes in the United States, multiple installations in the US Gulf area have been issued with force majeure and shutting down the news.
Traders said that the impact from the incident, the supply from the United States is expected to return to normal by the end of the year is unlikely.
In addition, the market participants believe that the hurricane for the end of the original plan on the new line of North American devices will have a certain delay may be.
According to China Customs data show that in 2016 from the United States imported polyethylene reached 300,000 tons level.
In addition to tight supply, the appreciation of the renminbi also pushed the price of imported US gold prices played a decisive role.
According to the China Foreign Exchange Trade Center data show that the Chinese yuan against the US dollar on Wednesday reached nearly a year since the new height. The central parity rate of the renminbi against the dollar rose by 191 benchmarks to 6.6102.
Part of the domestic traders reaction, the recent appreciation of the yuan by the impact of the dollar for the settlement of the supply of goods tend to be more cautious, more to the RMB settlement based. In other words, if it is necessary to purchase US dollars, the verification plant must accept a relatively higher price.
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