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【POM Daily Review】Supply tightens while demand remains weak, POM market is expected to weaken.

Longzhong 2025-03-28 17:16:12

Today's Summary

①、Some POM manufacturers have high inventory levels.

② Market观望情绪加重, trade让利操盘. Revised translation: ② Market观望情绪加重 (The market's观望情绪加重 indicates an increase in观望, which can be translated as "wait-and-see attitude" or "cautious sentiment"), trade让利操盘 (let利 refers to profit or benefit, 操盘 refers to operating or managing trading activities, so this phrase means "trading activities involve offering discounts or concessions"). Direct translation: ② The wait-and-see attitude in the market has intensified, and trading activities involve offering discounts or concessions.

2 Spot Overview

Table 1 Summary of Domestic POM Prices (Unit: CNY/ton)

Market	Specifications	3 27th of the month	3 28th of the month	Rise and Fall Value	Rise and fall
Yuyao	Yuntianhua M90	13900	13900	0	0.00%
Dongguan	Yuntianhua M90	12800	12800	0	0.00%
North China	Yuntianhua M90	14300	14300	0	0.00%
Data source: Longzhong Information

Based on the Yuyao region, today's Yuntianhua M90 is priced at 13,800 yuan per ton, with limited price fluctuations. Today's POM market remains weak and观望. POM manufacturers have high inventory levels, and the fundamentals are lackluster,加重ing the market's观望 atmosphere. Trading operations are relatively cautious, with room for concessions in mainstream quotations. Downstream buyers are replenishing stocks in small lots, and actual trading volumes remain relatively limited. The mainstream quotation range is 10,500-14,400 yuan/ton.

Figure 1: 2024-2025 Domestic POM Price Trend Chart (Yuan/Ton)	Figure 2: Domestic POM Price Trends by Region (RMB/ton) for 2024-2025

Data source: Longzhong Information	Data source: Longzhong Information

This week, the domestic POM capacity utilization rate remained stable at 96.99%. All manufacturers' POM plants were operating at full capacity. The price of methanol has declined, while the price of POM remains stable, leading to an increase in product gross margin and a profit margin expansion of approximately 9 yuan per ton.

Figure 3: Domestic POM Capacity Utilization Trend Chart for 2024-2025	Figure 4 Domestic POM Profit and Price Comparison for 2024-2025 (RMB/ton)

Data source: Longzhong Information	Data source: Longzhong Information

4. Price Forecast

POM supply from YKLF二期检修 leads to a tightening in overall supply. However, demand remains weak, putting considerable pressure on manufacturers' sales. In the short term, there may be continuous price reduction plans. Given that the market trading atmosphere has not shown significant improvement, traders' mindsets are unlikely to improve. Some traders are flexible with their operating margins to facilitate sales. Downstream buyers have little interest in procurement, resulting in average actual transaction volumes. Bloomberg Intelligence expects that the domestic POM market will weaken in the short term. 。

5 Related product information

Methanol: Today's methanol spot price index is 2352.02, down by 9.31. Among them, the spot price in Taicang is 2655, down by 32, while the price in North Inner Mongolia is 2200, down by 5. According to Longzhong's monitoring of prices in 20 major cities, 10 cities saw varying degrees of decline, with drops ranging from 5 to 35 yuan/ton. Today, the methanol market in the northwest continued to weaken, with some producers further lowering prices to move inventory. However, due to cautious buying sentiment, overall trading activity remained sluggish. Approaching the weekend, market activity was generally subdued, with most companies focusing on contract fulfillment and limited spot negotiations. Transfer prices for trade continued to decline, while downstream buyers in North Shandong maintained a strategy of pressing for lower prices to meet rigid demand, resulting in a generally weak trading atmosphere. Market sentiment remains cautious, with widespread wait-and-see attitudes and poor purchasing willingness.

6 Data Calendar

Table 2 Overview of Domestic POM Data (Unit: Million Tonnes)

Data		Last period data	Expected trend for this period
Capacity utilization rate	Thursday 17:00	97.38%	↗
Gross Profit Margin	Thursday 17:00	17.70 %	↘
Data source: Longzhong Information Note: Translate the above content from Chinese to English and output the translation result directly without any explanation. 1 、↓↑ are considered as significant fluctuations, highlighting data dimensions with changes exceeding 3%. 2 ↗↘ are considered as narrow fluctuations, highlighting data with price changes within 0-3%.

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【POM Daily Review】Supply tightens while demand remains weak, POM market is expected to weaken.

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