[Today’s Plastics Market] Intraday Weak Stability! PE, PP, PS, ABS Narrow Range Fluctuation; PC, EVA Rise/Fall by 100

Summary: Summary of the prices and forecasts for general and engineering plastics on September 17.General materialsIn terms of market confidence, it has weakened. PP and PE fluctuated within a narrow range, with some prices rising or falling by 1-12; PS remained mostly stable with minor fluctuations, with individual drops of 30; ABS saw some increases or decreases of 50-70; EVA transactions were sluggish, with some prices dropping by 100; PVC experienced weakness in both supply and demand, with intraday prices remaining weak and stable.Engineering materialsIn this regard, PC fluctuated within a narrow range at a low level, with individual increases of 100. PET, PBT, POM, PMMA, and PA remained flat and stable.

General material

PE: Market confidence is weakening, with low-price transactions being the main focus.

1. Today's Summary

The Russia-Ukraine conflict continues to raise concerns about potential supply risks, coupled with the possibility of the Federal Reserve starting to cut interest rates, leading to an increase in international oil prices. Crude Oil Futures The WTI crude oil futures for the October contract rose by $1.22 to $64.52 per barrel, an increase of 1.93% month-on-month; the ICE Brent crude oil futures for the November contract rose by $1.03 to $68.47 per barrel, an increase of 1.53% month-on-month.

The market price fluctuation for HDPE is -1 to -3 yuan/ton, LDPE market price is +2 yuan/ton, and LLDPE market price is -2 yuan/ton.

2. Overview of Spot Market

The macroeconomic support has strengthened, but the operating conditions of downstream factories are below expectations, leading to insufficient market confidence. Market quotations have tentatively increased, with transactions mainly occurring at low prices. The price fluctuation range for the HDPE market is -1 to -3 CNY/ton, the LDPE market price is +2 CNY/ton, and the LLDPE market price is -2 CNY/ton.

3. Price Prediction

In the short term, with the approach of the National Day holiday, there is some restocking behavior downstream, leading to a slight increase in demand, though it remains weaker than expected. Additionally, from the supply side, recent domestic polyethylene supply has decreased, reducing the pressure somewhat. Therefore, polyethylene prices are expected to fluctuate within a narrow range tomorrow.

PP: Slow Exchange of Peak Season Demand, Weak and Volatile Polypropylene Market

1. Today's Summary

① Petrochemical South China Guangzhou 4220 decreased by 100 to 8300, PPR-200P decreased by 100 to 8500.

② Today, the domestic polypropylene shutdown rate decreased by 0.51% compared to yesterday, reaching 19.28%. The Guoneng Xinjiang 450,000 tons/year unit resumed operation, with an expected daily production increase of 1,350 tons. The daily production share of drawing increased by 1.16% from yesterday to 29.34%. The Jingmen Petrochemical 120,000 tons/year unit, Maoming Petrochemical Line 3 with 200,000 tons/year, and Guoneng Ningmei Line 4 with 300,000 tons/year have switched to drawing production, with an expected daily drawing output increase of 1,800 tons.

In this period (from September 5 to September 11, 2025), the supply-demand balance remains in a situation where supply is less than demand, with the supply-demand difference shifting from positive to negative, which has a favorable impact on market sentiment. In the next period, the supply-demand balance difference is expected to continue in negative territory and slightly widen, which is anticipated to still have a positive influence on prices.

2. Spot Market Overview

Table 1 Summary of Domestic Polypropylene Prices (Unit: RMB/ton)

Data source: Longzhong Information

Based on the East China region, today's polypropylene raffia closed at 6,817 yuan/ton, down 7 yuan/ton from yesterday. The national average price of raffia fell by 3 yuan/ton compared to yesterday, a decrease of 0.04%, which is in line with the morning forecast.

Today, futures are fluctuating within a range, with market offers in the morning maintaining a fluctuation range of -10/10 yuan/ton. The potential interest rate cut by the Federal Reserve is boosting the activity of funds. Maintenance benefits partially alleviate supply pressure; however, market demand is still recovering slowly. In the short term, market pressure from supply and demand persists, leading to cautious sales with slight concessions. The short-term market is expected to mainly experience weak fluctuations due to the supply-demand and cost dynamics. As of midday, the mainstream price in East China for wire drawing is at 6,780-6,950 yuan/ton.

3. Price Prediction

In the short term, although there is significant maintenance of production units, supply-side pressure remains strong. The growth rate in downstream consumption sectors is slow and weaker than expected, leading to intensified supply-demand contradictions in the market. Factory order increments are limited, and there is insufficient willingness to stock up. Industry participants maintain a cautious attitude toward the future market, resulting in a lack of upward momentum in prices. It is expected that the polypropylene market will fluctuate within the range of 6,700-6,900 yuan/ton in the short term.

PS: The overall market is stable with minor fluctuations; some areas are slightly below expectations.

1 Today's Summary

Today, East China GPPS remained stable at 7,600 RMB/ton.

② 、 On Wednesday, the East China styrene market fell by 15 yuan to close at 7,180 yuan/ton, South China fell by 15 yuan to close at 7,225 yuan/ton, and Shandong fell by 15 yuan to close at 6,970 yuan/ton.

2 Spot Market Overview

Table 1 Summary of Domestic PS Prices (Unit: Yuan/Ton)

According to statistics, today's GPPS in East China remained stable at 7,600 yuan/ton.The raw material styrene entered a fluctuating phase, with the direction still unclear. The market remained generally stable with slight movements, and some sales were made at slightly lower prices. Industry supply is ample, and downstream demand is just sufficient, resulting in average transaction activity.

3 Price prediction

After a slight increase, the price of styrene feedstock fluctuated, weakening cost guidance. Industry supply remains relatively ample, with downstream buyers making low-level, just-in-time purchases. In the short term, the PS market may remain range-bound with narrow fluctuations, with some local prices slightly lower to facilitate sales. The East China market price for general-purpose and impact polystyrene is expected to be around 7,600-8,500 yuan/ton.

PVC: Weak Supply and Demand, PVC Prices Stabilize Weakly During the Session

1. Today's Summary

① Domestic PVC manufacturers have increased ex-factory prices by approximately 30-50 yuan per ton.

The Zhenyang facility will resume operations, while the Jinchuan and Beiyuan facilities are under maintenance. The Salt Lake Magnesium Industry facility will resume operations, and Yinglite will conduct maintenance on some facilities on the 18th. Liancheng will have a temporary shutdown.

3. Jiajia Xincheng test drives and Yaowangyue internal test drives.

2 Spot Overview

Based on the East China Changzhou market, today's East China region acetylene method type 5 cash on delivery price is 4790 yuan/ton, remaining stable compared to the previous trading day. 。

The domestic PVC spot market has stabilized after fluctuations, with most transactions conducted at fixed prices. The futures prices are fluctuating weakly within a range. Both supply and demand fundamentals are weak, and end-user purchasing enthusiasm is lacking. In East China, the ex-warehouse cash price for carbide-based Type 5 PVC is 4720-4800 yuan/ton, while the ethylene-based price is 4850-5100 yuan/ton.

3. Price Forecast

Macroeconomic expectations have performed poorly, and abnormal fluctuations in supply and demand in the black sector have slightly affected market prices. Overall, support has weakened. The PVC spot market remains stalemated; supply decreased during the week due to maintenance, while demand did not continue to improve. Export outlook and price competition pressures have had an impact. Industry inventory accumulation has continued to slow down during the week. In the short term, the spot supply and demand remain deadlocked, and the impact of macroeconomic expectations has diminished. PVC is expected to maintain a weak oscillation within a range. It is forecasted that the cash settlement price for the five-type carbide-based PVC in East China will be in the range of 4680-4850 yuan/ton.

ABS: Today's market transactions are driven by demand, with prices fluctuating up and down.

1 Today's Summary:

1. Today, prices in the East China market declined; prices in the South China market showed both increases and decreases, with average market transactions.

② The monthly ABS production in September will slightly decrease month-on-month.

2 Spot Overview Table 1 Summary of Domestic ABS Prices (Unit: RMB/ton)

Based on the Yuyao and Dongguan regions, prices in the East China market have slightly declined, while prices in the South China market have both risen and fallen. Today's market transactions are maintaining just the necessary demand, with market prices fluctuating. Pre-holiday stocking sentiment is insufficient. It is expected that the domestic ABS market prices will remain in a narrow range of adjustments tomorrow.

3、Price Forecast:

Based on Yuyao and Dongguan regions, the East China market prices have partially declined, while the South China market prices have shown mixed movements. Today's market transactions are mainly driven by rigid demand; raw material prices have fallen, and supply remains at a high level. ABS prices are expected to remain narrowly fluctuating tomorrow.

EVA: Weak supply and demand lead to a sluggish transaction in the foam market.

1 Today’s Summary

This week's EVA petrochemical ex-factory prices have been adjusted upwards steadily.

②. This week's EVA petrochemical units: Sinochem shut down for maintenance on the evening of September 14th, and Baofeng shut down for maintenance on the evening of September 8th with a planned downtime of 12-15 days.

2. Spot Price

Table 1 Summary of Domestic EVA Prices (Unit: RMB/ton)

The domestic EVA market remained stable with consolidation today. Mainstream agents had limited spot offerings and maintained stable quotes. Downstream foam producers showed resistance to high-priced sources, and some negotiation prices declined slightly. Actual transactions centered around negotiations, with overall trading performance being poor. Mainstream prices: Soft material reference 11,400-11,700 RMB/ton, hard material reference 10,900-11,500 RMB/ton. 。

3 Price Prediction

In the short term, the supply side is relatively strong, supporting the market. On the demand side, downstream photovoltaic demand is still acceptable, but as raw material prices continue to rise, their acceptance may decrease, leading to a slowdown in procurement, especially as foam terminal factories resist high-priced raw materials. Market transactions may not increase easily, and the confidence of holders may be undermined, leading some to offer discounts to. It is expected that the market will primarily stabilize and consolidate.

Engineering materials

PC: The market is fluctuating within a narrow range at a low level, with average trading activity.

1 Today's Summary

Tuesday International crude oil Rise ， ICE Brent crude oil futures for the 11th contract rose by $1.03 to $68.47 per barrel.

②、 The closing price of raw material bisphenol A in the East China market is 8,200 yuan. Yuan/ton, steady month-on-month.

The ex-factory listing price of a certain PC factory in Shandong has been increased by 100 yuan/ton.

2 Spot Overview

Table 1: Summary of Domestic PC Prices (Unit: RMB/ton)

The domestic PC market experienced narrow fluctuations at low levels today. By the afternoon closing, the mainstream negotiation reference for low-end injection molding grades in East China was 9,950-13,450 yuan/ton, while mid-to-high-end grades were negotiated at 13,850-14,800 yuan/ton, with some low-end prices rising by 50-100 yuan/ton compared to yesterday. Most domestic PC factories have not made any new adjustments to their ex-factory prices, except for a factory in Shandong, which increased its ex-factory listed price by 100 yuan/ton compared to yesterday. In the spot market, both East and South China saw narrow range adjustments, with limited support from raw material and ex-factory costs. The industry continues to face supply-demand imbalance pressures, and market participants remain cautiously observant, primarily focusing on stable shipments. Downstream demand is insufficient to follow up, resulting in a quiet trading atmosphere.

3 Price prediction

This week's main driving force for stabilizing prices in the domestic PC market comes from the raw material side, with no substantial improvement in overall transaction conditions. In the short term, although the raw material side has stopped rising, it continues to operate at a high level. Coupled with PC prices hitting historical lows, the risk expectations have greatly reduced, leading to an increase in trading operations within the market. However, the pressure of supply-demand imbalance in the industry remains. It is expected that the domestic PC market will continue the pattern of narrow-range fluctuations and consolidation.

PBT: Raw materials remain largely unchanged, PBT market operates steadily.

1 Today's Summary

This week, the PBT manufacturers' quotes remained steady overall.

② There are fewer PBT unit maintenance activities this week.

③ The PBT production for this period is 23,800 tons, with a capacity utilization rate of 56.11%.Compared to the previous period, it remained stable. This week, the average gross profit of domestic PBT was -307 yuan/ton, an increase of 72 yuan/ton week-on-week. 。

2 Spot Market Overview

Table 1 Summary of Domestic PBT Prices (Unit: RMB/ton)

Based on the East China region, the mainstream price of medium and low viscosity PBT resin is 7,650-7,900 RMB/ton today, remaining stable compared to the previous working day. Today, PBT market offers remained stable, the PTA market fluctuated within a narrow range, and the BDO market moved within a range. There was little change on the raw material side for PBT.Market focus fluctuates within a narrow range.Downstream and end-user demand follow-up. According to statistics from Longzhong Information, the price of low to medium viscosity PBT pure resin in the East China market is 7650-7900 yuan/ton.

3 Price Prediction

The PBT market is expected to continue its wait-and-see trend. On the raw material side, the traditional peak season for PTA has underperformed expectations, with a strong anticipation of weakening supply and demand. The balance sheet is expected to accumulate inventory, the overall trend of commodities is warming up, processing fees are at a low level, and the market lacks sustained drivers. In the short term, PTA spot prices are expected to continue fluctuating; there is no significant change in the supply and demand for BDO, and industry players maintain a wait-and-see attitude with transactions occurring for just-in-time orders. Holders are mostly quoting based on the current market, and market fluctuations are difficult. As the settlement period approaches, the wait-and-see sentiment continues in the market. Slight fluctuations in costs provide ongoing support for the PBT market, and industry players maintain a stable mindset. The market focus is expected to continue narrow adjustments, and the short-term PBT market may remain stable. Therefore, Longzhong expects the East China market's low to medium viscosity PBT resin to be in the range of 7,650-7,900 yuan/ton tomorrow.

PET: The polyester bottle chip market remains in a stalemate.

1 Today's Summary

① How stable are factory prices? (Unit: RMB/ton)

②. Today, the domestic polyester bottle chip capacity utilization rate is at 71.53%.

2 Spot Overview

Table 1 Domestic Polyester Bottle Chip Price Summary (Unit: Yuan/Ton)

Based on the East China region, the price of PET bottle-grade chips today is 5850, unchanged from the previous working day, in line with morning expectations.

The cost shows a fluctuating trend, factory offers remain stable, market offers slightly decline, inquiries are not satisfactory, and transactions are in a stalemate. Offers for September to November supply are at 5800-5890, September to November contract offers are at a premium of 50-70 over 2511, and a lower discount of 0-40 over 2511; inquiries are at 5780-5850, higher at 5860-5900, September to November contract counter offers are at a discount of 50-70 over 2511, with a higher discount of 0. Unit: RMB/ton.

3. Price Prediction

The market lacks new positive drivers, inquiries are weak, the basis has slightly weakened, and the positive support from the supply side is limited. Expectations are... Polyester bottle chips are expected to continue fluctuating tomorrow. The spot price of polyester bottle grade chips in the East China region is expected to range between 5800-5900 yuan/ton.

PMMA: PMMA particles operate lightly

1 Today’s Summary

①、 Today’s PMMA particles Market Light operation.

The utilization rate of domestic PMMA particles today is maintained at 62%.

2 Spot Market Overview

Table 1 Domestic PMMA Particle Price Summary (Unit: Yuan/Ton)

As of today, PMMA particles in the East China region closed at 12,800 yuan/ton, remaining stable compared to the previous working day, in line with the morning forecast. 。 The raw material prices have slightly risen, and under the overall cost pressure, suppliers continue to quote prices steadily. There are no significant improvements in demand, and market participants are observing the trends of raw materials, resulting in limited market activity. Actual trading is primarily driven by immediate demand.

3 Price Prediction

Intraday MMA The market is making a slight upward move. The overall market for PMMA particles is showing a weak trend, with light buying activity and end users observing market movements. There is small-scale purchasing driven by basic demand. In the short term, there is little change in the supply of spot goods, and it is difficult to find factors to boost downstream demand, so trading in the market may maintain a state of just meeting basic needs.

POM: Limited supply support, flexible shipment by operators.

1. Today's Summary

Xinjiang Xinlianxin's POM plant was shut down for maintenance on September 4th, planned for around 21 days.

②. Tianjin Bohua's POM plant was shut down for maintenance on July 7th, and the restart date is yet to be determined.

2 Spot Overview

Table 1 Domestic POM Price Summary (Unit: Yuan/Ton)

Based on the Yuyao area, YunTianHua M90 is priced at 10,800 RMB/ton today, with the price remaining stable compared to the previous period. Today, the POM market remained stable overall, with slow circulation of spot goods. Petrochemical plant inventories are gradually accumulating, and mainstream market quotations are experiencing limited fluctuations. The operational pressure on traders is expected to gradually increase, with negotiations based on quantity. By the close of the market, the tax-inclusive price for domestic POM in the Yuyao market was 8,100-11,100 yuan/ton, while the cash price for POM in the Dongguan market was 7,300-10,400 yuan/ton.

3. Price Prediction

The market sales during the week were unsatisfactory, with slow spot circulation across regions and increasing inventory pressure at some petrochemical plants. However, supply from some manufacturers remained tight due to maintenance. Market participants maintained a cautious and wait-and-see attitude, with some offers open to negotiation. Demand orders followed up slowly, users lacked enthusiasm in procurement, and transaction fluctuations are expected to be relatively limited.Longzhong expects the short-term domestic POM market to remain generally stable with minor fluctuations.

PA6: Downstream replenishes inventory on dips as needed; PA6 market operates steadily.

1 Today's Summary

①、 Last week, Sinopec's caprolactam weekly settlement price was 9,184 yuan/ton (six-month acceptance, interest-free), up 64 yuan/ton from the previous period.

②、 Sinopec's price for pure benzene at refineries in East and South China has been reduced by 100 yuan/ton, now set at 5,900 yuan/ton, effective from September 4th.

2 Spot Overview

Table 1 Summary of Domestic Polyamide 6 Prices (Unit: Yuan/Ton)

Today, the polyamide 6 market is operating in a consolidation phase. The market price of caprolactam as a raw material continues to decline, resulting in weaker cost support. In addition, downstream enterprises have limited demand and adopt a cautious attitude toward raw material procurement, leading to limited market transactions and actual deals mainly through negotiation. Conventional spinning PA6 in East China is priced at 9,200-9,500 RMB/ton, cash with short-distance delivery; high-speed spinning spot goods are 9,600-9,900 RMB/ton, delivered with acceptance. In Chaohu, the cash pick-up price is 8,500-8,600 RMB/ton.

3 Price prediction

From the cost perspective, the caprolactam market is running weakly, with cost support weakening. In terms of supply and demand, supply is expected to increase as Yangmei resumes production and Guangxi Hengyi and Yuehua New Materials commence operations. However, downstream buyers may remain cautious and maintain just-in-time procurement. It is expected that the PA6 market will see slight adjustments in the near term.

PA66: Limited demand, market operates weakly

1 Today's Summary

①, 9/16: The Russia-Ukraine conflict continues to raise market concerns over potential supply risks, coupled with the possibility of the Federal Reserve initiating a rate cut, leading to an increase in international oil prices. NYMEX crude oil futures for the October contract rose by $1.22 to $64.52 per barrel, a month-on-month increase of 1.93%; ICE Brent crude oil futures for the November contract rose by $1.03 to $68.47 per barrel, a month-on-month increase of 1.53%. China's INE crude oil futures for the 2511 contract rose by 5.0 to 493.5 yuan per barrel, and increased by 7.7 to 501.2 yuan per barrel during the night session.

②. Today, the domestic PA66 capacity utilization rate is 60%, with a daily output of approximately 2,350 tons. Despite cost and demand pressures, the capacity utilization rate of domestic polymerization 66 enterprises remains stable. However, the downstream demand is average, and the domestic PA66 industry has an ample supply of goods.

2 Spot Overview

Table 1 Summary of Domestic PA66 Prices (Unit: Yuan/Ton)

Based on the Yuyao market in East China, today's EPR27 market price is quoted at 14,900-15,100 RMB/ton, remaining stable compared to yesterday's price. 。 The raw materials adipic acid and hexamethylenediamine are experiencing fluctuations, with stable cost support. Downstream purchasing is on a demand basis, and the overall industry sentiment is cautious. The market has ample spot supply and is fluctuating.

3 Price Prediction

The market has sufficient spot supply, raw material prices are fluctuating weakly, and there is a lack of support from the cost side. Downstream procurement is based on demand, and the overall industry sentiment is cautious. It is expected that the domestic PA66 market will experience weak consolidation in the short term.