Daily review: PC Domestic Market Shows Weak Stable Performance, Trading Atmosphere Remains Cautious

1. Market Conditions

On June 16, 2026, the average PC market price was RMB 15,723/ton, unchanged from the previous working day. Today, the domestic PC market was weak and stable with a wait-and-see sentiment. This week, some factories’ quotations have seen increases, decreases, or remained stable, with mixed signals from the news front, intensifying the market’s cautious sentiment. Before noon, a Zhejiang factory opened its auction at a lower level, and market participants were mostly focused on the auction results. Low-price selling sentiment eased slightly, and offers remained weak but stable. However, demand showed no improvement, and negotiations remained deadlocked. In terms of market prices, mainstream negotiations for low-end materials in East China were referenced at RMB 12,900–14,100/ton, while negotiations for mid- to high-end materials were referenced at RMB 17,400–19,200/ton.

Table: PC Market Prices

2. Upstream Market Dynamics

Crude oil: Trump announced that the United States and Iran had reached a peace agreement and that the Strait of Hormuz would reopen. Iran also officially confirmed that a memorandum of understanding on a U.S.-Iran ceasefire had been reached. As the geopolitical risk premium in the Middle East receded, international crude oil prices closed sharply lower. On June 15, U.S. WTI crude oil July futures settled down USD 4.13/bbl, or 4.87%, at USD 80.75/bbl; Brent crude oil August futures settled down USD 4.16/bbl, or 4.76%, at USD 83.17/bbl. The main SC futures contract 2608 was quoted at RMB 541.8/bbl.

Bisphenol A: The domestic bisphenol A market continued to consolidate. As raw material prices kept declining, cost support for bisphenol A weakened. However, the bisphenol A industry is still suffering significant losses, and with some units shut down and more units expected to halt in the near term, producers are mainly adopting a price-stabilizing stance. Spot prices have seen only slight downward adjustments in some cases. On the demand side, there has been no improvement so far; buyers are generally lacking confidence in the market outlook, and the off-season for demand is also suppressing buying enthusiasm. Most transactions are focused on consuming contract cargoes and feedstock cargoes, and trading sentiment remains subdued.

3. Market Outlook

Suppliers’ willingness to sell at low prices has shown signs of weakening, but demand remains relatively weak. Attention should be paid to downstream restocking at low-end prices. The PC market is tentatively expected to trade within a range tomorrow. Low-end material prices in the East China market are expected to be in the range of RMB 12,500-14,000/mt, while negotiated prices for mid- to high-end materials are referenced at RMB 17,000-19,000/mt.