Sep 06, 2023
It is evident that the exchange rate and imported PE market are inversely correlated. Taking LLDPE as an example, at the beginning of the year, due to the appreciation of the RMB, most traders offered higher. However, when RMB depreciated significantly, market transaction for high-price USD-dominated goods was poor and traders offered lower to balance the price spread between RMB market and CFR China market and make transactions. The price trend of LDPE and HDPE was similar.