[PC Daily Review] Market High-Level Weak Oscillation

1 Today's Summary

① Last FridayInternational crude oil prices rose, with ICE Brent May futures up $2.68 per barrel to $103.14. 。

②、 Raw material Bisphenol A closing price in the East China market: RMB 11,500 per tonCNY/ton, stable month-on-month.

③ This week, two domestic PC plants in Shandong significantly lowered their latest ex-factory prices.

Today, the domestic PC market remained in a high-range consolidation. By the end of the afternoon, the mainstream trading prices for low-grade injection-grade PC in East China were in the range of 14,500-16,750 yuan/ton, while mid-to-high-end grades were traded around 18,000-18,800 yuan/ton. The prices of domestic raw materials remained basically stable, with the center of gravity for high-end grades moving upward. At the beginning of the week, the factory prices of two PC plants in Shandong dropped significantly, while Hengli Petrochemical continued to increase its factory price by 200 yuan/ton. In the spot market, East China remained in a consolidation trend, while some grades in South China saw a slight decline. Although international crude oil remained in a high-range fluctuation, its influence on the industry chain sentiment weakened, and the market sentiment gradually returned to rationality. Sellers adjusted their offers in line with the market, and downstream buyers continued to maintain only essential purchases.

3 Production Dynamics

Today, the capacity utilization rate of domestic PC factories is 82.79%; the price of raw material bisphenol A in East China remains stable at 11,500 yuan per ton, and the profit margin of the domestic PC industry remains stable compared to the previous working day, at 650 yuan per ton.

Figure 3 Weekly PC Capacity Utilization Trend in China	Figure 4 Comparison of Domestic PC Profit and Price (Unit: RMB/ton)
Data Source: Longzhong Information	Data Source: Longzhong Information

4 Price prediction

At the beginning of the week, the latest price adjustments from domestic PC manufacturers varied, while the spot market maintained a weak and volatile trend. The main factors were the sluggish entry of downstream rigid demand and the need for further digestion of spot profit-taking. In the short term, with the slowdown in international crude oil price increases and the overall price fluctuations in the industry chain easing, PC market participants are returning to a more rational approach. The mentality of the holders is cautious, and under the dominant rhythm of actively selling along with the market, it is expected that the domestic PC market will mainly experience a narrow range consolidation at high levels. Tomorrow, attention will be on the auction dynamics of Zhejiang Petrochemical and the latest price adjustments from other PC factories.

5. Related Product Information

Bisphenol A Market: Taking the East China region as the benchmark, the price of Bisphenol A in East China today closed at 11,500 yuan/ton, ranging from 11,500 to 11,500 yuan/ton, stable compared to the previous trading day, in line with early expectations. The market in East China today transitioned smoothly, with the main factories maintaining stable listed prices. The enthusiasm of the holders for operations was not high, and the quotations were mainly stable. However, the downstream demand was insufficient, and the order receiving was weak. The market sentiment was of a wait-and-see nature, focusing on consuming existing contract inventories, with very few actual transactions in the market.

6 Data Calendar

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