as international crude oil moves higher the chemical products market has been supported

Recently, the overall China PE market is healthy, and most products rebound significantly. Among them, LLDPE appears firm. Since May, the LLDPE Sep future contract price is basically above 6,200yuan/mt, and may continue to spiral higher. After several fluctuations, it can found that the upper limit price of the LLDPE Sep future contract is around 6600yuan/mt, and the spot is slightly higher. The overall LLDPE market price is in the mainstream range of 6200-6700yuan/mt.

Judging from the current LLDPE market, it is profitable, which mainly includes the following aspects:

First, as international crude oil moves higher, the chemical products market has been supported. At present, the oil prices of WTI and Brent have all rebounded to above $30/mt, which brings cost support to the overall chemical market. The overall olefin industry chain recovers well. As far as ethylene monomer is concerned, its price in Northeast Asia has risen from $330/mt in April to $675/mt at present. The rising crude oil and ethylene has boosted the whole PE market, and it is obviously that LLDPE has also been affected by it.