According to the commodity market analysis system of Business Society, the average price of LLDPE (7042) on February 2 was 7,025 yuan/ton, and on February 5 it was 6,918 yuan/ton, a decrease of 1.52%. The average price of LDPE (2426H) on February 2 was 9,066 yuan/ton, and on February 5 it was 8,916 yuan/ton, a decrease of 1.65%. The average price of HDPE (5000S) on February 2 was 7,450 yuan/ton, and on February 5 it was 7,392 yuan/ton, a decrease of 0.77%. Recently, various grades of polyethylene have generally shown a weak and fluctuating trend.

On the cost side: Crude oil prices rebounded on February 3 and 4, but this failed to alter market expectations of weakening costs, resulting in limited support from the cost side.

On the supply side: The restart of facilities such as Sinochem Quanzhou and Maoming Petrochemical, along with the commissioning of the LDPE/EVA unit at Yulong Petrochemical, has further increased market supply. Expectations of increased supply are putting downward pressure on prices.

On the demand side: As the Spring Festival holiday approaches, downstream factories are gradually shutting down, and terminal demand has entered a seasonal off-season. Trading activity is subdued, making it difficult to sustain price increases.

In the short term, the polyethylene market will continue to be dominated by weak supply and demand dynamics, and prices are likely to remain in a weak and fluctuating trend.