February 5th News — Recently, the 300,000-ton/year EVA/LDPE integrated unit at the Shandong Yulong Petrochemical Industrial Park successfully started up on its first attempt, achieving full-process operation and producing the first batch of qualified 2420K high-pressure LDPE products. Chempricehub's analysis of polyethylene indicates a bearish score of -1. The commissioning of new units increases polyethylene supply, exerting downward pressure on spot prices. Specifically, the qualified high-pressure LDPE output from the 300,000-ton/year EVA/LDPE integrated unit will boost market supply, potentially leading to pressure on spot prices. Combined with futures data, the settlement price of the polyethylene main contract 2605 is 6,823 yuan/ton (down 79 yuan), with a trading volume of 535,505 lots and a decrease in open interest by 6,547 lots, indicating capital outflow and strengthening bearish sentiment, further weighing on futures prices. Therefore, a general bearish score of -1 is assigned, with expectations that short-term prices may continue to weaken.
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