China's economic growth in 2016 shows the current L-type, the growth rate stabilized, which is consistent with China's new economic stability in the era of stability requirements. 2016 domestic polyethylene market showed N-type trend, and reached its peak and began to fall at the end of the trend, or 2017 polyethylene market, the performance of the unusual performance, 2017 steady progress into national policy, or bring the exchange of ethylene The market is not the same as the new market.
China's economic growth in 2016 showed L-type: 6.7% in the first quarter, 6.7% in the second quarter, 6.7% in the third quarter and 6.7% in the fourth quarter. In line with China's stable national policy, but also in line with the situation in 2016, look forward to 2017, China's policy variables for commodity and asset prices a huge impact. "Steady progress" was originally an economic policy, and now becomes the general principle of governing the country, which is the requirements of the development of the times. 2017 national economy will continue to steady progress, the overall market in the polyethylene market in 2016 on the basis of continued improvement, the overall price or rise. Next and look at the current new market in the polyethylene market.
Upstream: crude oil: the market worried about the US crude oil production and OPEC countries cut production news intertwined, making the current international oil prices continued within a narrow range, despite the international oil prices fluctuated, the plastic market did not have a direct impact on the recent international crude oil out of their own state , The impact on the polyethylene market is limited; ethylene: the recent Asian ethylene market prices continue to rise. Ethylene prices continue to rise higher by the equipment maintenance market supply tight, and downstream products, good demand for good products strong demand, supply: the region ethylene production due to MTO device operating rate is low, cracker repair and decline, although the arbitrage window open, but Due to the Western cracker repair, ocean cargo limited, the Asian ethylene market supply is relatively tight, demand: styrene, ethylene glycol and other production profits are still good, the demand for ethylene stocks strong, by the downstream market to take strong, strong market atmosphere, But the oil-based PE manufacturers are currently at a loss, the current spread of -55 US dollars / ton, while the reasonable spread of 150 US dollars / ton. So the impact of upstream ethylene rose, the beginning of this week, a wave of petrochemical manufacturers rallied, but the market has achieved poor results, which is also part of the downstream part of the festival has not yet returned to the market, the overall market sentiment is relatively light, some businessmen High prices warmth, the actual turnover of small, forcing the market price lower late, Lantern Festival after the basic return of all manufacturers next week, the market or will be improved.
Fundamentals: Although this year, although some manufacturers have not yet reworked after the holiday, but compared with previous years, most manufacturers return to the market relatively timely, the downstream start to improve over the same period, and this year although the inventory during the Spring Festival, compared with the same period last year, , But the overall supply of adequate, the downstream manufacturers are not fully back to the market, coupled with poor futures in the week, the overall market showed light, the majority of manufacturers choose to wait and see, replenishment follow-up, the market price decline, especially high-pressure products, High prices, the market resistance is serious, and the recent oversupply situation, the emergence of a wave of high pressure decline, businesses see more high-pressure market, to the high-pressure market velvet on a layer of haze, and the recent low-pressure pipe rally, Pipe prices are relatively low, with the downstream demand for traditional pipe increases, and late April and May sets of sets of low-voltage devices planned maintenance, the overall low pressure, especially the pipe market ushered in the spring.
Comprehensive view: petrochemical enterprises after a relatively high inventory, the port inventory due to poor logistics during the New Year also accumulated, coupled with a smaller proportion of petrochemical maintenance, the recent market supply is more adequate. But the current petrochemical control of the market price of the right to speak, the concentration of goods, coupled with the upstream ethylene market prices rising, pressure manufacturers, and downstream film in February ushered in the season, the demand to pick up, so the price adjustment space is not, PE market will be short Adjust to continue after the uplink. But the recent market in the implementation of low, especially in high-pressure market, the market bullish atmosphere, high-pressure products or will continue to decline.