1. Today's Summary

① POM petrochemical plant inventories are gradually accumulating.

② Operators are offering discounts, leading to a decline in the focus of quotations.

2. Spot Market Overview

Taking Yuyao region as the benchmark, today's Yun Tianhua M90 is priced at 14,200 yuan/ton, a decrease of 200 yuan/ton from the previous price. The focus of the POM market has shifted downward. There is limited guidance information from POM petrochemical plants, and the sales situation in various regions continues to be weak. Traders' willingness to offer discounts has increased, with mainstream quotations falling by 100-200 yuan/ton. Downstream users are mainly in a wait-and-see attitude, resulting in relatively limited actual transactions. The main quotation range is 10,500-14,500 yuan/ton.

3. Production Dynamics

This week, the domestic POM production capacity utilization rate remains stable at 98.10%. All manufacturers' POM facilities are operating at full capacity. The prices of Methanol and POM have remained stable compared to last week, but the average price of POM is lower than last week, thus reducing the product's gross profit margin, with profits decreasing by about 2 yuan/ton.

4. Price Forecast

POM petrochemical plant inventories are gradually accumulating, making it difficult for the fundamentals to provide support. Market sentiment is becoming more cautious, and given the lack of follow-up demand orders, the pressure on traders to operate is hard to alleviate. Low-price quotations within the market will gradually increase. Downstream users are being cautious with their essential purchases, resulting in a relatively quiet trading atmosphere. Longzhong expects that in the short term, the domestic POM market will undergo a weaker consolidation.

5. Related Product Situation

Methanol: Today's methanol spot price index is 2,351, down by 1, with the Taicang spot price at 2,643, down by 2, and the Inner Mongolia North Line price at 2,197.5, down by 5. According to Longzhong's monitoring of 20 major and medium-sized cities, 9 cities have seen varying degrees of decline, with decreases ranging from 2 to 20 yuan/ton. Today, the overall trading atmosphere in the northwest methanol market is weak. In the morning, some enterprises offered small discounts to promote sales, and buyers' interest in purchasing at lower prices improved somewhat, though there were still differences in regional transaction performance. The North Line market saw relatively smooth transactions, mainly supported by inquiries for external procurement from some olefin companies, which led to a slight improvement in the market atmosphere and an upward adjustment in trade transfer prices; while the South Line market had mediocre transactions, primarily driven by essential needs. With the inquiry for external procurement by some olefin companies, the market sentiment was boosted, and trade transfer prices were adjusted upwards, but overall transactions still focused on essential needs.

6. Data Calendar