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China's imported polyethylene price reaches its highest price in the past five months

China's imported polyethylene price reaches its highest price in the past five months

(Summary description)China's imported polyethylene prices have risen outstandingly since the end of June, and some grades are even closer to the annual highs, with low-pressure membranes and low-pressure hollows as outstanding. According to data, as of August 25, the weekly valuation of low-pressure membrane China was estimated at US$1,120-1,160/ton, an increase of US$72.5/ton from the end of the month, reaching a nearly 6-month high; at the same time, the low-pressure hollow Chinese main The weekly valuation of the port is estimated at US$1,105-1,155/ton, an increase of US$110/ton from the end of the month, reaching a full-year high. The rising trend of imported polyethylene prices continued into this week

China's imported polyethylene price reaches its highest price in the past five months

(Summary description)China's imported polyethylene prices have risen outstandingly since the end of June, and some grades are even closer to the annual highs, with low-pressure membranes and low-pressure hollows as outstanding. According to data, as of August 25, the weekly valuation of low-pressure membrane China was estimated at US$1,120-1,160/ton, an increase of US$72.5/ton from the end of the month, reaching a nearly 6-month high; at the same time, the low-pressure hollow Chinese main The weekly valuation of the port is estimated at US$1,105-1,155/ton, an increase of US$110/ton from the end of the month, reaching a full-year high. The rising trend of imported polyethylene prices continued into this week

Information
China's imported polyethylene prices have risen outstandingly since the end of June, and some grades are even closer to the annual highs, with low-pressure membranes and low-pressure hollows as outstanding. 
According to data, as of August 25, the weekly valuation of low-pressure membrane China was estimated at US$1,120-1,160/ton, an increase of US$72.5/ton from the end of the month, reaching a nearly 6-month high; at the same time, the low-pressure hollow Chinese main The weekly valuation of the port is estimated at US$1,105-1,155/ton, an increase of US$110/ton from the end of the month, reaching a full-year high. 
The rising trend of imported polyethylene prices continued into this week. Domestic traders said that low-pressure membranes and low-pressure hollow air concentrated trading ranges were between US$1,150-1,195/ton and US$1,120-1,155/ton. 
Market participants believe that tighter supplies and the appreciation of the renminbi against the US dollar are the two main reasons for the rise in the price of imported polyethylene.
Although most of the oil-based polyethylene plants have completed the regular planned pre-repair before the end of July, market participants expect that the coal-based polyethylene spot in September may be reduced.
Shaanxi Pucheng Clean Energy plans to conduct a one-month maintenance of its 300,000-ton-year full-density device on September 10; Shenhua Baotou plans to conduct 15-day maintenance of its 300,000-ton-year full-density device on September 4. Overhaul. The overhaul of the two sets of equipment is expected to cause the loss of polyethylene output to reach a level of more than 30,000 tons.
At the same time, the spot supply of imports is also approaching, especially from Iran and the United States. Excluding the existing letter of credit problem, some Iranian installations have been reported to have suffered from ethylene deficiency since the end of July and have maintained a low operating level.
Iran’s Ilam Petrochemical Company heard that its 300,000-ton/year low-pressure device was overhauled in mid-July, and it has not resumed driving. Other devices, such as Iran’s AKPC, Lorestan, and Mahabad Petrochemical, have heard that they have maintained low-load production since the end of July. Some traders also reported the postponement of Iranian cargo.
In addition, the source of imports from the United States is also expected to approach in the second half of the year. Affected by the U.S. hurricane, a number of installations in the U.S. Gulf region have issued news of force majeure and shutdowns. 
Some traders said that due to the unexpected incident, it is unlikely that supplies from the United States will return to normal before the end of the year. 
In addition, market participants believe that the hurricane will cause a certain delay in the North American devices that were originally planned to be launched at the end of the year.
According to Chinese customs data, in 2016 imported polyethylene from the United States reached the level of 300,000 tons.
 
In addition to tighter supply, the appreciation of the renminbi also played a decisive role in pushing up the price of imported U.S. dollars.
According to data from the China Foreign Exchange Trading Center, the exchange rate of China's renminbi against the US dollar reached a new high in more than a year on Wednesday. The central parity rate of RMB against the US dollar rose by 191 basis points to 6.6102. 
Some domestic traders have responded that recently, affected by the continuous appreciation of the renminbi, they have become more cautious about the supply of goods settled in U.S. dollars, and more settled in renminbi. In other words, if it is necessary to purchase US dollars, the verification factory must accept a relatively higher price.
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