Over 100 Chemical Plants Halt Quotations! Abs, Pp, Pc and Others Collectively "Seal Off"

From March 27 to 29127 chemical enterprisesCollectively announcing a suspension of external quotations, ABS, PP, and PC—the three major general-purpose plastics—are at the forefront, plunging the spot market into a rare state of "discussions only, no quotations." This market storm, triggered by a confluence of supply contraction, surging costs, and recovering demand, is rapidly rippling through the supply chain, placing immense pressure on downstream sectors such as home appliances, automotive, and packaging.

As early as the 27th, the international chemical giant SABIC announced an force majeure notice, and domestic ABS and PP companies followed by suspending quotations, causing the prices to surge in the first round.

In just three days, China's chemical market witnessed a "halt in quotations."

March 27th,ABS top leader first stops reporting price increase。

Jilin Petrochemical suspended quotations for its mainstream grades and raised prices by RMB 800/ton, serving only existing customers; Zhejiang Petrochemical halted sales and raised prices by RMB 600/ton, causing a sharp decline in spot market availability; LG Yongxing increased prices by RMB 700/ton, implemented a "price-per-order" policy, and suspended long-term pre-orders. The next day,Daqing PetrochemicalDue to inventory shortage, quotes are suspended and the price is increased by 500 yuan/ton, only for core customers.

As of the 29th, the mainstream quotation for ABS in East China reached 9,405 yuan per ton, with an increase of over 35% compared to previous levels. There was a strong phenomenon of stockpiling and purchasing, and the availability of goods in circulation continued to tighten.

Same day, translate the above content into English, output the translation directly, no explanation needed.PP dual-leader synchronized motion。

Baofeng Energy, asThe absolute leader in coal-to-PP productionContinuous price increase of 600 yuan per ton; drawing-grade quotation at 9,200 yuan per ton, marking the largest single-day price increase of the year.Sinopec North ChinaAll external quotations are suspended comprehensively; pricing is available only on a case-by-case basis for core customers. PetroChina’s Northeast facility is undergoing maintenance, impacting its PP pipe material production capacity by 150,000 tons per year. Previously, on March 23, the main PP futures contract hit the daily trading limit (upward), and spot prices have continued to rise. March 28–29.Wanhua Chemical、Satellite ChemicalThe maintenance of related facilities has further exacerbated the supply shortage, with the overall industry load dropping to 70%. Spot inventory is at a low level, and some companies have raised their quotes by more than 15%. Downstream companies generally report "difficulty in obtaining goods and a sharp increase in costs."

28thPC sector initiates centralized disk sealingThe price increase is the highest.

International industry leader Bayer MaterialPause the quotation and announce a price increase of 3090 yuan/ton starting April 1st.Covestro ShanghaiMarket closed, poised for a price hike; prices to rise by RMB 2,500 per ton; spot inventory at historic lows.Jiaxing TeijinIncrease by 1800 yuan/ton, cash and carry only. On the 29th,Luxi ChemicalDue to plant maintenance, quotations have been suspended and prices increased by RMB 1,050 per ton; all 21 domestic PC producers have halted price reporting.

On the same day, the East China PC low-end material quotation was 14,450 RMB/ton, while the high-end price exceeded 19,000 RMB/ton; downstream enterprises in the home appliance and automotive industries faced significantly increased procurement costs, and small and medium-sized enterprises were under pressure to suspend production.

The following is the latest as of the 27th.Plastic product price fluctuation ranking chart

The current wave of suspension of quotations in the chemical industry is triggered by multiple factors: a surge in international crude oil prices has pushed up the cost of chemical raw materials; the concentrated maintenance of facilities in spring has led to a reduction in capacity and a contraction in spot supply across various categories; companies generally have low inventories, prioritizing the execution of long-term agreements and advance orders, with very limited external supply. Additionally, the recovery of downstream rigid demand, manufacturers' optimistic outlook on the future market, and their active withholding of stocks for sale have ultimately led to a widespread suspension of quotations across multiple categories in the entire industry chain.