[Today's Plastic Market] Engineering Materials Steady to Slightly Lower, General Materials All in Green, EVA Drops Up to 150

Summary: A summary of the prices and forecasts for general and engineering plastics on the market as of September 22.A piece of general material is green.PE price cuts lead to inventory reduction, with some down by 2-12; PP continues to decline, with some down by 14-93; PVC, PS, and ABS show weak fluctuations, with some down by 10-50; EVA drops by 100-150.Engineering materials are steadily declining.The PC market is in a narrow range of observation, with some dropping by 50; PET continues to show a weak trend, with some down by 10-30; PMMA, PBT, POM, and PA are operating with a wait-and-see approach.

General material

PE: The market is reducing inventory and orders have improved somewhat.

1. Today's Summary

OPEC+ has a firm stance on increasing production, and concerns about weak demand prospects continue to weigh on the market, leading to a decline in international oil prices. NYMEX crude oil futures for the 10-month contract fell by $0.89 to $62.68 per barrel, a decrease of 1.40%; ICE Brent oil futures for the 11-month contract dropped by $0.76 to $66.68 per barrel, a decrease of 1.13%.

The price fluctuation range for the HDPE market is -14 to 2 yuan/ton, the price for the LDPE market is -11 yuan/ton, and the price for the LLDPE market is... Flat 。

2. Spot Overview

Orders have improved, and factories have increased their stock, but without further macroeconomic benefits to boost the situation, supply mainly increases. Companies are offering discounts to reduce inventory, leading to a drop in prices. The price fluctuation range for the HDPE market is -14 to 2 yuan/ton, the market price for LDPE is -11 yuan/ton, and the market price for LLDPE is... Flat 。

3. Price Prediction

In the short term, on the supply side, with the commissioning of new installations, the restart of previously repaired installations, and the increase in import offers, supply pressure continues to intensify. On the demand side, downstream demand is gradually improving, and some enterprises may replenish their inventories before the holiday, leading to an increase in raw material demand. In summary, polyethylene prices are expected to fluctuate within a narrow range tomorrow.

PP: The peak season is not strong, and demand is difficult to drive. The polypropylene market continues to decline.

Today's Summary

①. Sinopec East China PP decreased by 50-100 yuan/ton. Zhenhai Refining & Chemical T03 dropped to 7050 yuan/ton, Yangzi F401 dropped to 7050 yuan/ton, Shanghai M800E dropped to 7900 yuan/ton, and Jiujiang T dropped to 6750 yuan/ton.

②. Today, the domestic polypropylene shutdown impact decreased by 0.51% compared to last week, reaching 18.46%. The old facilities at CNOOC Daxie Petrochemical with an annual capacity of 300,000 tons and Shaoxing Sanyuan with an annual capacity of 200,000 tons have resumed operations, and the daily production supply is expected to increase by 1,500 tons. The daily production proportion of raffia decreased by 3.94% compared to last week, reaching 24.48%. This is mainly due to Jingmen Petrochemical's shift to film production for its 120,000 tons/year capacity, Guoneng Baotou's shift to film production for its 300,000 tons/year capacity, and Guoneng Xinjiang's shift to thin-walled injection molding for its 450,000 tons/year capacity, with an expected reduction in raffia production by 2,610 tons per day.

The supply-demand balance remains tight in this period (from September 12 to September 18, 2025), with the supply-demand difference maintaining a negative value and continuing to expand, which has somewhat boosted market sentiment. In the next period, the supply-demand balance difference is expected to narrow, and it is anticipated to still have a certain positive impact on prices.

2. Spot Overview

Based on the East China region, today's polypropylene yarn price is 6,772 yuan/ton, down 17 yuan/ton compared to last week. The national average price for yarn has decreased by 27 yuan/ton compared to yesterday, and it has dropped by 0.39% compared to last week, which aligns with the morning forecast.

Today, futures opened flat and fluctuated slightly downward. In the morning, market quotations fell by 20-30 yuan/ton. The persistent weakness on the demand side, combined with a significant increase on the supply side, has further intensified market supply and demand pressures. At the end of the month, there is concern about inventory pressure during the National Day holiday, prompting many to actively reduce inventory to mitigate risks. In the short term, supply and demand are in a tug-of-war with costs, and the market is expected to fluctuate weakly and bearishly in the near term. As of midday, the mainstream price for Luzhou in East China is between 6720-6900 yuan/ton. 。

3. Price Prediction

The significant disparity between the rapid expansion in supply and the slow follow-up in demand continues to highlight the market's surplus situation. With cost-side easing and external macro benefits being prematurely consumed, the market is in a critical period of supply and demand variables in the short term, with a focus on the progress of demand-side improvement. Moreover, during the National Day holiday, most downstream factories will shut down, and the market will preemptively reduce inventory to avoid the risk of stockpiling during the holiday. Recently, there has been a tug-of-war between supply and demand, and it is expected that the market will weakly fluctuate around 6,700-6,900 yuan/ton in the short term.

PVC: Weak supply and demand for PVC, with prices fluctuating weakly during the session.

Today's Summary

The ex-factory prices of domestic PVC production companies using the calcium carbide method have been reduced by approximately 20-50 yuan/ton.

②, Jinchuan, Zhenyang, and Liancheng units have resumed operation, Heilongjiang Haohua and Haohua Yuhang units are under maintenance, Yinglite and Inner Mongolia Yihua have some units under maintenance that will resume within the week.

The Loan Prime Rate (LPR) is: the 1-year LPR is 3.00%, the LPR for over 5 years is 3.50%, both unchanged from the previous month. The above LPR is effective until the next LPR is announced.

2 Spot Overview

Based on the East China Changzhou market, the current cash-in-warehouse price for acetylene method type V in the East China region is 4780 yuan/ton, an increase of 10 yuan/ton compared to the previous transaction. 。

The domestic PVC spot market is experiencing weak fluctuations. The market opened steadily in the morning, supported by the cost benefits of the black industry. However, in the afternoon, the expectation of weakened long-term demand for bulk commodities in the black sector lowered market sentiment. The domestic PVC supply and demand fundamentals are running weakly, with continuous pressure from industry inventory accumulation. In the East China region, the carbide-based PVC for cash delivery is priced at 4680-4850 yuan/ton, while the ethylene-based PVC remains at 4850-5100 yuan/ton.

3. Price Forecast

The fundamentals of PVC spot supply and demand remain weak. Throughout the week, as maintenance gradually resumes, PVC production has risen again to a high level, leading to ample market supply. Pre-holiday downstream stocking enthusiasm is generally moderate. Considering that some enterprises will take holidays to varying degrees during the festival, the expectation for PVC industry inventory to accumulate is accelerating, especially with the rapid release of new production after the holiday, which will increase inventory pressure. Cost support is strong in the short term, as there is a tight supply of calcium carbide before the holiday, which benefits cost support. However, the short-term expectation of weak demand in the black sector has dampened market confidence. It is expected that spot PVC prices will slightly contract from high levels, with the spot price of calcium carbide method PVC in East China projected to be in the range of 4650-4800 yuan/ton.

PS: The market is reducing prices to stimulate sales, but the transactions are mediocre.

1 Today's Summary

Today, the East China GPPS dropped by 30, closing at 7500 yuan/ton.

② 、 On Monday, the East China styrene market dropped by 60 to close at 6970 yuan/ton, South China dropped by 85 to close at 7025 yuan/ton, and Shandong dropped by 70 to close at 6755 yuan/ton.

2 Spot Overview

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

According to Longzhong Information, today's East China GPPS fell by 30 to 7,500 yuan/ton.Raw material styrene continues to decline, with insufficient cost support, leading to continued price reductions in the market. The high production levels in the industry have resulted in a relatively ample supply of goods, and downstream market participants are exhibiting strong wait-and-see sentiment, resulting in flat current transactions.

3 Price Prediction

The raw material styrene continues to decline, leading to weaker cost directionality. The industry supply is relatively abundant, while downstream buyers are making low-level just-needed purchases. In the short term, the PS market may undergo weak consolidation. It is estimated that the East China market price for transparent modified polystyrene will be between 7,450-8,400 yuan/ton.

ABS: Traders meet rigid demand, prices mostly fall rather than rise

1 Today's Summary:

1. Today, the price in the East China market is declining; in the South China market, prices are fluctuating with some increases and decreases, and market transactions are driven by essential demand.

The monthly production of ABS in September is expected to decrease slightly compared to the previous month.

2 Spot Overview

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

Based on the regions of Yuyao and Dongguan, prices in the East China market have slightly declined in some areas, while prices in the South China market have experienced local minor decreases. Today's market transactions remain driven by just-in-demand, with traders offering discounts. The atmosphere for pre-holiday stocking is average, and manufacturers' prices have seen more declines than increases. It is expected that domestic ABS market prices will maintain a narrow range of consolidation tomorrow.

3 Price prediction:

Based on Yuyao and Dongguan regions, the price in the East China market has slightly declined, while the price in the South China market is declining steadily. Today, the market transaction is driven by rigid demand, and traders are offering discounts to sell. The supply level remains high, and it is expected that the ABS price will continue to show a slight downward trend in certain areas tomorrow.

EVA: Petrochemical prices stabilize to support the market, while the foam market experiences a slight decline.

1 Today's Summary

①. This week's EVA petrochemical ex-factory prices remain stable.

This week, EVA petrochemical units: Yangba plans to shut down for maintenance soon, while the rest are operating steadily.

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

Today, domestic EVA market quotations are stable with some downward adjustments. At the beginning of the week, petrochemical factory prices remained stable, but the downstream foam market's pre-holiday stocking is based on just-in-time demand. Some imported sources have recently arrived at ports. Holders are actively selling to secure profits before the holiday. Additionally, some downstream factories are also exporting raw materials. Market quotations are chaotic, with actual transactions being the main focus. Mainstream prices: Soft materials are referenced at 11,300-11,700 yuan/ton, and hard materials are referenced at 10,800-11,500 yuan/ton.

3 Price prediction

In the short term, the supply side remains strong, supporting the market as some petrochemical soft material production increases, with overall inventory still not a concern. Downstream photovoltaic demand follows up with essential pre-holiday purchases, while foam terminal factories resist high-price raw materials, purchasing based on essential needs. Holders maintain a cautious mindset, with market arbitrage transactions mainly for selling. It is expected that the market will primarily stabilize and consolidate.

Engineering materials

PC: News guidance is limited, and the market is in a narrow range of observation.

1 Today's Summary

Last Friday International crude oil Decline ， ICE Brent crude oil futures for the 11th contract fell by $0.76 to $66.68 per barrel.

②、 Raw material bisphenol A closed at 8050 in the East China market. Yuan/ton, down 50 yuan/ton compared to the previous month.

At the beginning of the week, the latest ex-factory prices of major domestic PC manufacturers are not yet clear.

2

Today, the domestic PC market is operating in a narrow range. As of the afternoon closing, the mainstream negotiation reference for low-end injection molding grade in East China is 9,950-13,450 yuan/ton, while the negotiation for mid-to-high-end materials is 13,850-14,800 yuan/ton, with individual prices dropping by 50 yuan/ton compared to last Friday. At the beginning of the week, the latest ex-factory prices of some domestic PC factories remained stable compared to last week, while the latest ex-factory prices of other factories remain to be clarified. A PC factory in Shandong continues to sell through bidding. From the spot market perspective, both East China and South China are temporarily stable and in consolidation. The fundamentals are increasingly bearish, but there is a lack of guidance from factories. Most holders are temporarily operating with stable pricing. Pre-holiday restocking purchases from downstream are scarce, and the trading atmosphere is subdued.

3 Price Forecast

At the beginning of the week, although there were few recent factory price adjustments from major domestic PC manufacturers, the industry's supply and demand imbalance has not effectively improved. Additionally, the weakening trend of bisphenol A has further reduced cost support for PC, putting pressure on market sentiment. Ahead of the National Day and Mid-Autumn Festival, there are no favorable expectations for the fundamentals. It is anticipated that the domestic PC market will primarily experience weak fluctuations, with attention on the price adjustment direction of major PC manufacturers and market trading conditions.

PMMA: PMMA particle arrangement operation

1 Today's Summary

①、 Today PMMA particles The market tends to stabilize and consolidate. 。

Today, the domestic PMMA particle utilization rate remains at 65%.

2 Spot Overview

Based on the East China region, today PMMA particles closed at 12,800 yuan/ton, remaining stable compared to the previous working day, in line with the morning expectations. 。 Today, the PMMA particle market is consolidating. The raw material MMA has risen again, and the cost pressure remains unabated. Downstream demand is sluggish, with cautious inquiries from buyers, limited actual transactions, strong market sentiment of wait-and-see, and stable offers from suppliers.

3 Price prediction

Today, the buying atmosphere for raw material MMA is positive, with the negotiation focus strengthening, having a boosting effect on the MIBK industry. Intra-day PMMA particles... Stability maintenance, suppliers' offers remain at previous levels, while downstream inquiries are weak, and there are few discussions in the market. In the short term, some production enterprises may continue to support prices, but at the beginning of the week, downstream follow-up is limited, and the focus of actual transactions in the market is likely to fluctuate.

PET: The polyester bottle chip market continues to show a weak trend.

1 Today's Summary

Factory prices mostly dropped by 10-30, with some remaining stable. (Unit: Yuan/ton)

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

2 Spot Overview

The spot price of polyester bottle-grade PET in the East China region closed at 5730 today, down 30 from the previous working day, in line with the morning forecast.

The cost continues to show a weak trend, and the quotations from polyester bottle chip factories are mostly stable or lowered by 10-30. The market focus is consequently moving downward. The offers for September to November sources are between 5700-5950, and the September to November contract offers are 2511 with a premium of 0-20, with higher ones having a premium of 60-70. Inquiries are at 5700-5880, and the September to November contract bids are 2511 with a discount of 0-70, with higher ones having a premium of 30-80. Unit: Yuan/ton.

3. Price Prediction

Supply remains stable at a low level, while demand is rigidly replenished at low prices. In the short term, considering the concentrated destocking by factories, there is price support at the bottom. However, commodities are sluggish, and costs are a drag. It is expected that tomorrow... The polyester bottle chips or continue to operate with a slightly weak fluctuation. The spot price of polyester bottle chips in the East China region will run in the range of 5680-5850 yuan/ton.

PBT: There are not many changes in the fundamentals at the beginning of the week, and the PBT market is operating with a wait-and-see approach.

1 Today's Summary

This week's PBT manufacturers' quotes remained stable overall.

This week, there is less maintenance on the PBT units.

The PBT production for this period is 22,600 tons, a decrease of 1,200 tons compared to the previous period, representing a decline of 5.04%. The capacity utilization rate is 53.14%, down 2.97% from the previous period. The average gross profit for domestic PBT this week is -308 yuan/ton, a decrease of 1 yuan/ton compared to the previous period. 。

2 Spot Overview

Based on the East China region, the mainstream price of medium to low viscosity PBT resin today is 7650-7900 yuan/ton, remaining steady compared to the previous working day. Today, the PBT market is operating with a wait-and-see approach, the PTA market is under pressure and moving downwards, and the BDO market is fluctuating within a range. At the beginning of the week, the PBT market fundamentals showed no significant changes, with transactions remaining driven by essential needs, and the focus of negotiations is temporarily stable. ， According to 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 approach. On the raw material side, the performance of PTA in the traditional peak season is lukewarm, with restarted maintenance units leading to a weakening supply-demand balance and expectations of inventory accumulation. Overall, the commodity market is sluggish, with the cost side exerting pressure and a lack of supportive factors in the market. In the short term, the PTA spot market may continue to be under pressure; BDO.Some factories intend to scale back their October policies, but some remain stable month-on-month, increasing market participants' wait-and-see sentiment. Holders have a general intention to trade, mostly quoting based on the market, with the market's focus on trading being calm and steady.Raw material expectations remain weak, but the impact on the PBT market is relatively small. As the National Day holiday approaches, demand may improve, and the PBT market may continue its stable trend in the short term. Therefore, Longzhong expects that tomorrow the East China market price for low-viscosity PBT resin will be around 7,650-7,900 yuan/ton.

POM: The market is moving slowly, and there is flexibility in negotiations.

1. Today's Summary

Xinjiang Xinlianxin POM plant stopped for maintenance on September 4th, planned to last about 21 days.

②. The Tianjin Bohua POM plant was shut down for maintenance on July 7th, with the restart date yet to be determined.

2 Spot Overview

Based on the Yuyao region, the price of Yun Tian Hua M90 is 10,800 yuan per ton today, which is stable compared to the previous period.The POM market is consolidating sideways today. ， The fundamentals are lacking support, petrochemical plants have certain inventory pressure, there is pressure on market shipments, and traders' operational mentality is relatively weak, with room for negotiation in transactions. As of the close, the domestic POM price in Yuyao market is 8100-11100 yuan/ton including tax, and the cash price in Dongguan market is 7300-10400 yuan/ton.

3. Price Prediction

At the beginning of the week, there is no clear guidance from various regions, spot circulation is sluggish, petrochemical plants continue to face increasing pressure to sell, and short-term fundamentals lack support. The market sales situation remains weak, traders are not actively operating, and some offers will slightly decline. End-users' bearish sentiment is increasing, resulting in cautious purchasing behavior, and the outlook for buying and selling is not optimistic. expects that the short-term domestic POM market will operate weakly.

PA6: Cautious Market Observations at the Start of the Week, PA6 Market Stabilizes

1 Today's Summary

①、 Sinopec's caprolactam weekly closing price last week was 9,078 yuan/ton (six-month acceptance without interest), down 106 yuan/ton compared to the previous period.

②、 Sinopec has lowered the price of pure benzene by 100 RMB/ton at various refineries in East China and South China, with the new price set at 5900 RMB/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 consolidated manner. The market price of caprolactam continues to decline, with weakened cost support. However, downstream production enterprises have limited demand, and their purchasing mentality is cautious, observing the market. Overall market transactions are limited, and actual transaction negotiations are ongoing. East PA6 regular spinning is priced at 9050-9350 RMB/ton for cash short delivery, and high-speed spinning spot price is 9500-9900 RMB/ton for acceptance delivery. Chao Lake is priced at 8500-8600 RMB/ton for cash self-pickup.

3 Price Prediction

From the cost perspective, the caprolactam market is weakly consolidating, leading to reduced cost support. From the supply and demand perspective, the recent restart of polymerization enterprises is expected to increase supply, which is bearish for the market. Additionally, downstream buyers may be cautious about purchasing raw materials before the holiday, maintaining just-in-time replenishment. Therefore, the PA6 market is expected to undergo a slight weak consolidation in the near term.

(The above is compiled from Longzhong)