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[PC Daily Review] Production and sales pressure remains, market operates weakly

Longzhong 2025-03-05 17:48:55

1、Today's Summary

① On Tuesday, international crude oil prices fell, with the ICE Brent crude futures May contract at $71.04, down $0.58 per barrel.

② The closing price of raw material bisphenol A in the East China market was 9,375 yuan/ton, a decrease of 25 yuan/ton from the previous day.

③ Downstream purchasing remains insufficient, and the pressure on spot trading is still relatively high.

2、Spot Overview

The domestic PC market continues to experience a weak bottom-probing trend today. As of the afternoon close, the main negotiation reference for low-end injection molding grade materials in East China ranged from 12,200 to 15,900 yuan/ton, while mid-to-high-end materials were negotiated between 15,250 and 16,500 yuan/ton. Some mid-to-low-end materials saw a decrease of around 100 yuan/ton compared to yesterday. Domestic PC factories have not issued any new factory price adjustments, and the overall production and sales situation has not improved; from the perspective of the spot market, the East China and South China markets maintain a weak fluctuation pattern, with no reduction in supply and demand fundamentals, inadequate support from single cost factors, cautious sentiment among intermediaries, and some sellers still showing slight declines. Downstream rigid purchases are limited, and the trading pace is slow.

3、Production Dynamics

Today, the operating capacity utilization rate of domestic PC factories is 85.74%; the price of raw material bisphenol A in the East China market fell by 25 yuan/ton to 9,375 yuan/ton, and the gross profit margin of the domestic PC industry increased by 22.5 yuan/ton from the previous working day to -737.5 yuan/ton.

4、Price Forecast

Since after the Spring Festival, the capacity utilization rate of the domestic PC industry has gradually risen to a historical high, with domestic material supplies being highly abundant. However, the overall operation of downstream industries has not improved, and the imbalance between production and sales continues to intensify, leading to sustained price declines. Given the current low price difference between upstream and downstream, the cost pressure on the industry is increasing, and there is a growing intention among PC factories to reduce production to support prices. However, the actual implementation progress remains to be seen. Additionally, considering the need to digest existing inventory, it is expected that the domestic PC market will continue to experience a low and weak fluctuation pattern in the short term.

5、Related Product Conditions

Bisphenol A Market: Based on the East China region, today's bisphenol A closed at 9,350-9,400 yuan/ton, with the mainstream price at 9,375 yuan/ton, a decrease of 25 yuan/ton from the previous trading day, in line with early expectations. The overall atmosphere of the bisphenol A market today further weakened. Although the quotations from major bisphenol A manufacturers remained stable, the lack of benefits from the two downstream sectors, coupled with the softening of the raw material benzene and phenol markets, led to an increasing willingness among some intermediaries to sell along with the market. In the afternoon, more market offers appeared, with a slight adjustment in the high-end prices in East China, while other regional markets showed little change, with overall transaction volumes remaining insufficient.

6、Data Calendar

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[PC Daily Review] Production and sales pressure remains, market operates weakly

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