the imported PE market rose first and then declined

Sep 06, 2023

In the first half of 2023, the imported PE market rose first and then declined. The period of increase was relatively short-lived, while the decline lasted for a longer duration.

In January, PE market mainly moved up. At the beginning of the year, market sentiment was relatively stable, and the market was in strong wait-and-see stance. However, due to the appreciation of the RMB, imported PE market had been supported and most traders offered higher slightly. Then, suppliers had published their new offers at higher price, and the overall imported PE market went up. Subsequently, with the approach of the Spring Festival holiday, transaction was thin. 

In February, the market was mainly in consolidation. After the holiday, imported PE market inched up under the influence of RMB futures-spot market, and market transaction for high-price materials was poor. Most buyers bid with low price and traded price was relatively low.

The stocks of grey fabrics are accelerating mounting with ongoing high run rate but are controllable now
Imported PE market had been supported by the strong RMB futures-spot market and appreciated RMB

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