Market Range Fluctuation

1 Summary of the day

① Last FridayInternational crude oil prices rose; ICE Brent crude oil futures for June contract stood at $105.33, up $0.26 per barrel. 。

②、 Bisphenol A spot price in East China closed at 9750.CNY/ton, stable month-over-month.

At the beginning of the week, some domestic PC factories reduced prices by 300-400 yuan/ton respectively.

Table 1 Domestic PC Price Summary (Unit: Yuan/Ton)

Today, the domestic PC market showed a range-bound consolidation. As of the afternoon close, the main negotiation range for low-end injection molding grade PC in the East China market was 14,050-17,500 yuan/ton, while for mid-to-high-end grades it was 19,500-20,000 yuan/ton, with the overall price level remaining stable compared to last Friday. At the beginning of the week, there were few updates on the latest factory price adjustments; a PC factory in Shandong lowered its online auction price by 400 yuan/ton. In the spot market, East China mainly took a wait-and-see attitude, while South China experienced mixed price movements. The lack of clear directional signals in the fundamentals left traders cautious and uncertain, mainly engaging in deal-by-deal negotiations. Downstream buyers maintained a just-in-time procurement approach, leading to a slower trading pace.

3 Production Dynamics

Today, the capacity utilization rate of domestic PC factories is 71.19%; the price of raw material bisphenol A in the East China market remains stable at 9,750 yuan/ton, and the profit margin of the domestic PC industry remains stable at 1,775 yuan/ton compared to the previous working day.

Figure 3 Weekly PC Capacity Utilization Trend in China
Data source: Longzhong Information	Data source: Longzhong Information

4 Price Forecast

Currently, the domestic PC spot market remains weak. Although the price has dropped to a low level and the downward trend has slowed, the pressure on domestic material prices shows no sign of reversal. Considering the price spread between PC and bisphenol A, the overall profit margin for the PC industry remains relatively ideal, with most production enterprises maintaining stable high-load operations. With the arrival of the May Day holiday, factories have a demand to trade at lower prices to boost sales. However, downstream buyers remain relatively sluggish in pre-holiday procurement, and market transactions are unlikely to recover in the short term. It is expected that the domestic PC market will maintain a weak and oscillating trend. On Tuesday, attention should be paid to the auction dynamics of Zhejiang Petrochemical.

5. Relevant Product Information

Bisphenol A Market: Taking East China as the benchmark, today's Bisphenol A in East China closed at 9750 RMB/ton, ranging from 9700 to 9800 RMB/ton, stable compared to the previous trading day, in line with the morning expectations. The market in East China today showed limited fluctuations, with the main raw material phenol remaining stable. The purchasing enthusiasm of the downstream of Bisphenol A remained low, with a weak buying sentiment. However, suppliers did not offer any additional discounts, keeping the quotations stable. The focus of real transactions remained unchanged, and the trading volume in the market was limited.

6 Data Calendar

Table 2 Overview of Domestic PC Data (Unit: RMB/ton)