[Today's Plastic Market] Local Narrow Adjustment! General Materials Weakly Fluctuate, Engineering Materials Steadily Rise!

Summary: On October 27, the plastic market's general-purpose materials and engineering plastics prices and forecasts are summarized. For general-purpose materials, macro support is strengthening, and supply and demand marginally improve at the end of the month, leading to cautious price increases for PP and PE; PS and PVC see insufficient transactions; ABS mostly declines with some fluctuations between 30-110; EVA slightly rebounds, with some increases between 50-150. Engineering plastics remain mainly stable, with PC experiencing narrow fluctuations and some increases between 50-100; PET prices rise, with some increases between 30-40; PMMA, POM, PBT, and PA are consolidating and observing the market.

General Material

PE: Macro support is strengthening, market trading is improving.

Today's Summary

①. The market questions the actual effectiveness of the new US sanctions on Russia, coupled with still weak demand, resulting in a drop in international oil prices. NYMEX crude oil futures for the December contract fell by $0.29/barrel to $61.50, a month-on-month decrease of 0.47%; ICE Brent crude futures for the December contract fell by $0.05/barrel to $65.94, a month-on-month decrease of 0.08%.

The price fluctuation range for the HDPE market is -7 to -6 yuan/ton, the LDPE market price is -2 yuan/ton, and the LLDPE market price is +3 yuan/ton.

2. Spot Overview

The rise in crude oil prices has led to increased cost support for polyethylene. Coupled with recent favorable macroeconomic factors, the sentiment among industry players has improved, and merchants' quotations are relatively firm, with a decent atmosphere for low-price transactions in the market. However, downstream sectors continue to replenish inventory as needed and exhibit resistance to high prices. The market price change for HDPE is -7 to -6 yuan/ton, for LDPE is -2 yuan/ton, and for LLDPE is +3 yuan/ton.

3. Price Prediction

In terms of cost, the rising international crude oil prices have somewhat strengthened the cost support for polyethylene. The supply side is facing pressure mainly due to the reduced scale of maintenance of petrochemical production facilities, coupled with the concentrated arrival of imported sources, leading to an expected increase in market supply. On the demand side, the overall performance is mediocre, with only a few areas such as greenhouse films being in peak production season, providing some support for demand. However, other downstream industries are generally following up on orders based on rigid demand, offering limited overall support. In summary, although recent macro-level signals have been positive, boosting market sentiment to some extent, the supply and demand fundamentals suggest that the space for price increases is limited. It is expected that polyethylene market prices will fluctuate slightly, with a range of 20-50 yuan/ton.

PP: End-of-month supply and demand marginal improvement, cautious exploration of price increase in polypropylene supply and demand game.

1. Today's Summary

① Sinopec Southwest PP price adjustment: Wire drawing down by 150 yuan/ton, Ningxia NX40S down by 150 yuan/ton to 7100 yuan/ton; Lanhua 9018 down by 200 yuan/ton to 6950 yuan/ton; Chuanhua 36D down by 70 yuan/ton to 6800 yuan/ton.

Today, the domestic polypropylene shutdown impact increased by 0.60% compared to last week, reaching 19.62%. Zhejiang Petrochemical's four-line 450,000 tons/year unit was started up over the weekend, with an expected daily production increase of 1,350 tons. The daily production proportion of yarn increased by 1.62% compared to last week, reaching 25.52%. This is mainly due to Donghua Maoming's 400,000 tons/year, Zhejiang Petrochemical's first line 450,000 tons/year, and Donghua Ningbo's first line 400,000 tons/year switching to yarn production, with an expected daily yarn production decrease of 3,750 tons.

③、（20251017-1023） The supply-demand balance for this period remains in a tight equilibrium, boosting market sentiment. In the next period, the supply-demand gap is expected to widen due to supply growth being slower than anticipated and increasing demand, likely exerting a positive influence on prices.

2. Spot Overview

East China region Based on the district benchmark, today's polypropylene raffia closed at 6,610 yuan/ton, up by 2 yuan/ton compared to last week. The nationwide average price of raffia increased by 2 yuan/ton compared to last week, up by 0.03%, which is in line with the morning forecast.

Today, the futures market opened high and oscillated slightly downward. In the morning, most market reports indicated a range-bound consolidation, with a slight increase of 10 yuan/ton in low prices in East China. As the end of the month approaches, market resource consumption is slowing down the sales pressure on traders. Frequent maintenance has eased the supply and demand pressure in the market. With supply and demand and costs in a tug-of-war, the market is expected to mainly experience weak fluctuations in the near term, with opportunities for low prices to rise. By midday, the mainstream price for drawn wire in East China was between 6560 and 6650 yuan/ton.

3. Price Prediction

The marginal improvement in supply and demand, along with the macro policy direction set by the Fourth Plenary Session, boosts market sentiment. However, the mismatch between supply and demand in the polypropylene industry is difficult to quickly alleviate. Although short-term maintenance provides some positive impetus, its impact is minimal given the large capacity base. Additionally, on the export front, international trade barriers constrain downstream product shipments, exerting bearish pressure on the domestic market. Amid intense short-term supply and demand competition, the market is expected to fluctuate around 6,560-6,700 yuan/ton, with opportunities for upward movement.

PVC: End-of-month inventory demand is weak, and PVC transactions are slightly insufficient.

1. Today's Summary

Domestic PVC production enterprises' ex-factory prices have stabilized, with some down by 20-30 yuan/ton.

②, Yili has resumed operations, while some units at Xinfa, Hanjin, and Tianye are under maintenance.

The global financial market will welcome the "super central bank week," as the Federal Reserve, European Central Bank, Bank of Japan, and Bank of Canada will all announce interest rate decisions this week.

2 Spot Overview

。

At the beginning of the week, the domestic PVC spot market remained weak and stable, with various parties mostly observing in the early session. Prices fluctuated and sought lower transactions during trading, and in the afternoon, the black sector pushed up during the session. PVC prices fluctuated slightly, but the trading atmosphere was dull. In East China, the carbide method for type five cash delivery was at 4570-4680 yuan/ton, while the ethylene method was at 4700-4900 yuan/ton.

3. Price Forecast

During the week, the supply and demand fundamentals of PVC were relatively weak. The end-of-month stocking demand from downstream terminals remained flat, and supply expectations slightly increased, putting pressure on industry inventory. The black sector strengthened in the afternoon, driving industry cost expectations. However, the industry outlook was poor, providing limited support to the spot market. In the short term, under the pressure of supply and demand fundamentals, the market maintained small fluctuations. In East China, the cash price for acetylene-based type 5 was between 4,550-4,700 yuan/ton.

PS: Styrene shows weak fluctuations, with localized small declines in the market.

1 Today's Summary

Today, the GPPS in East China was steadily quoted at 6,950 yuan per ton.

② 、 On Tuesday, the East China styrene market dropped 70 to close at 6,475 yuan/ton, South China dropped 50 to close at 6,490 yuan/ton, and Shandong dropped 185 to close at 6,250 yuan/ton.

2 Spot Overview

According to According to Longzhong Information, GPPS in East China remained stable at 6,950 yuan/ton today.The raw material styrene is fluctuating weakly, providing insufficient support on the cost side. The market is sluggish in sales, and localized price reductions have begun. The supply of goods is relatively abundant, putting some pressure on the spot market. Buyers are mainly taking a wait-and-see approach, resulting in few transactions.

3 Price Prediction

The raw material styrene has weakened under fluctuations, and the cost center is also relatively low. Industry supply has decreased compared to the previous period, with downstream procurement driven by just-in-time demand, leading to an overall slowdown in pace. In the short term, the PS market may experience narrow fluctuations. It is expected that the price of toluene in the East China market will be between 6900-8000 yuan/ton.

ABS: Market transactions are driven by demand; today prices fell more than they rose.

1 Today's Summary:

①. There is little change in prices in today's East China market; prices in the South China market have fallen, and market transactions are maintained at just the necessary level.

In October, the monthly production of ABS saw a significant increase compared to the previous month.

2 Spot Overview:

Based on the Yuyao and Dongguan regions, the price changes in the East China market are relatively stable, while prices in the South China market have decreased. Today's market transaction is driven by demand, with raw material prices continuing to decline. Prices for some grades are also dropping. It is expected that the domestic ABS market prices will maintain a bearish trend tomorrow.

3 Price Forecast:

Based on the regions of Yuyao and Dongguan, the price changes in the East China market are not significant, while the South China market experiences localized price declines.Today's market prices are showing a weak trend, with supply remaining high and raw material prices falling. It is expected that tomorrow's ABS prices will continue a mild downward trend.

EVA: The market rebounded slightly from a low position, with general transactions.

1 Today's Summary

This week, the ex-factory price of EVA petrochemical was stable with a slight decrease, and the auctioned goods were generally sold.

This week, the EVA petrochemical plant: Yanshan Petrochemical plant has been idle for a long time, while the others are producing steadily. The 300,000 tons/year facility of Hanwha-GS Energy in South Korea was put into operation on September 25.

2. Spot Overview

Today, the domestic EVA market has stabilized and rebounded from the bottom. At the beginning of the week, petrochemical prices were stable with slight downward adjustments. After sellers offloaded their stocks, they adopted a wait-and-see approach. At the end of the month, agents have limited spot inventory, which slightly supports the market. Transactions are mainly driven by just-in-demand purchasing, and the overall market atmosphere is cautious. Mainstream prices: soft materials are referenced at 9,750-10,200 yuan/ton, and hard materials are referenced at 9,800-10,300 yuan/ton.

3 Price Prediction

In the short term, there is a strong standoff and game between the supply and demand sides of the market. The outlook for new capacity and demand by the end of the year is not optimistic, both creating pressure on the supply-demand side. Concerns about the future market are temporarily difficult to dispel, and short-term market support is relatively weak. The domestic EVA market is mainly undergoing weak consolidation. Waiting quietly for further guidance.

Engineering materials

PC: The market is fluctuating within a narrow range.

1 Today's Summary

Last Friday International crude oil Slight decline ， ICE Brent crude futures for the 12-month contract are at $65.94, down $0.05 per barrel.

②、 Raw material bisphenol A East China market closed at 7425. Yuan/ton, remaining stable month-on-month.

At the beginning of the week, the latest ex-factory prices of some domestic PC factories remained stable.

2. Spot Overview

The domestic PC market experienced fluctuating consolidation today. By the afternoon close, the mainstream negotiation reference for low-end injection molding grades in East China was 10,400-13,300 yuan/ton, while mid-to-high-end grades were negotiated at 14,000-14,800 yuan/ton, with most prices remaining stable and some adjusting by 50-100 yuan/ton. At the beginning of the week, the latest pricing adjustments from domestic PC factories remain to be clarified. The Pingmei Shenma PC plant has entered its scheduled shutdown and maintenance period. In the spot market, both the East China and South China markets continue to experience narrow fluctuations, with little impact from fundamental news. Inventory levels of circulating spot goods are average, and industry players are observing and following factory pricing trends, mainly maintaining stable operations. Downstream buyers are entering the market for essential purchases, but trading pace is slow.

3 Price Forecast

Currently, the overall supply of domestic PC resources remains limited. At the beginning of the week, factories mainly focused on stable pricing, and the overall trading pace in the spot market is steady. Market participants are cautiously optimistic, adopting a flexible approach while observing the situation. In the short term, although the supply side remains supportive, there has been no significant increase in downstream purchasing. Under the standoff and negotiation between buyers and sellers, it is expected that the domestic PC market will continue to maintain a stalemate and consolidation pattern.

PET: Polyester bottle chip market prices rise

1 Today's Summary

The mainstream factories have raised their quotes by 50-70, while other factories remain stable. Unit: Yuan/Ton

②. Today, the domestic polyester bottle chip capacity utilization rate reached 73.37%.

2 Spot Overview

Based on the East China region, today's spot price for PET bottle-grade flakes is 5740, remaining unchanged from the previous working day, which is basically in line with the morning expectations.

Market news indicates that raw material PTA and bottle chip companies are about to launch anti-involution efforts, which is favorable for the supply side. Raw material prices have surged significantly, with polyester bottle chip factories increasing prices by 50-70, leading to a rise in market focus. However, downstream and traders show weak enthusiasm for chasing prices. It is heard that morning transactions were at 5650-5700, with an afternoon increase of 50, resulting in a large price discrepancy in the bid and sparse transactions. (Unit: RMB/ton)

3. Price Prediction

From the supply perspective, with new installations about to commence operations, they will contribute to effective production in November, thus increasing pressure on the supply side. From the demand perspective, as the off-season approaches, downstream performance is weak and raw material consumption is slow. Temporarily boosted by news, the polyester bottle chip market may maintain a relatively strong pattern. It is expected that the spot price of polyester bottle chip water bottle materials in the East China region will run in the range of 5700-5800 yuan/ton tomorrow.

PMMA: PMMA particles consolidate and observe

1 Today's Summary

①、 Today's PMMA particles Market price stability 。

The utilization rate of domestic PMMA particles has increased by 5% to 65% today.

2 Spot Overview

Based on the East China region, today's PMMA particles closed at 13,600 yuan/ton, stable compared to the previous working day, in line with the morning forecast. 。 At the beginning of the week, both buyers and sellers mainly adopted a wait-and-see approach. The decline in raw material MMA prices weakened the production cost support for PMMA particles. Downstream terminals only maintained necessary rigid demand purchases, and the inquiry atmosphere was dull. Most particle factories chose to stabilize prices and observe, operating cautiously. Overall, the market's actual transaction performance was sluggish.

3 Price Prediction

Currently, PMMA particle manufacturers are mainly focused on fulfilling existing orders, with overall inventory pressure being limited. Downstream factories are cautious in their purchasing behavior, maintaining only the necessary rigid demand, resulting in moderate market activity. Traders also mostly refer to the quotations from mainstream manufacturers and follow market trends. Longzhong Information predicts that in the short term, the domestic PMMA particle market will continue to consolidate, with limited price fluctuations.

POM: Insufficient fundamental support, market under pressure to sell off.

1. Today's Summary

Kaifeng Longyu POM plant will be shut down for maintenance on October 9, and Hebi Longyu POM plant will be shut down for maintenance on October 20.

The POM unit of Tianjin Bohua was shut down for maintenance on July 7, and the restart time is yet to be determined.

2 Spot Overview

Based on the Yuyao region, today's price of Yuntianhua M90 is 10,600 yuan/ton, stable compared to the previous period. Today, the POM market remains stable, with no clear guiding information from the fundamentals. The delivery speed in various regions is slow, and there are no clear signs of improvement in the market. Traders are relatively weak in their trading mindset, and transactions are lacking. As of the close, the tax-included price of domestic POM in the Yuyao market is 8,100-11,100 yuan/ton, while the cash price of POM in the Dongguan market is 7,300-10,400 yuan/ton.

3. Price Prediction

At the beginning of the week, the shipping situation in various regions has not shown significant improvement, with a weak supply performance. Some petrochemical plants have low inventory levels, and there is no downward pressure in the short term. However, the market inquiry atmosphere is relatively dull, increasing the pressure on traders to sell. Some offers have room for negotiation, while terminal factories are operating at insufficient capacity, and users have low intentions to replenish stock, leading to negotiations based on actual transactions. Longzhong expects the domestic POM market to stabilize weakly in the short term.

PBT: Strengthening Raw Material Support Intensifies Market Observations

1 Today's Summary

This week, PBT manufacturers' quotations remain stable overall.

This week, there are fewer PBT unit maintenance activities.

③ The PBT production for this period is 23,700 tons.Capacity utilization rate is 55.69%, an increase compared to the previous period.The average gross profit of domestic PBT this week is -317 Yuan/ton, up 26 month-on-month. Yuan/ ton 。

2 Spot Overview

The mainstream price of low to medium viscosity PBT resin in the East China region is between 7,400-7,700 yuan/ton today, unchanged from the previous working day. Today, the PBT market is operating with a wait-and-see attitude, the PTA market continues to show strength, and the BDO market is fluctuating within a range. The policy guidance on PTA from the raw material side has boosted sentiment, with stronger cost support, benefiting the PBT market mindset and leading to an increase in wait-and-see sentiment in the market. ， According to Longzhong Information's statistics, the price of low-viscosity PBT pure resin in the East China market is 7,400-7,700 RMB/ton.

3 Price Prediction

The PBT market is expected to remain in a wait-and-see mode. On the raw material side, the new PTA facility was tested over the weekend, with strong expectations of weakened supply and demand. However, policy-driven guidance has led to a robust trend in the industrial chain, with low valuations combined with cost push, resulting in a short-term bullish trend in the PTA spot market. The BDO market has no clear news release, with intensified bargaining between supply and demand, fulfilling contract orders, and an overall stable market. There are no significant short-term changes in the fundamentals. The overall support from raw materials is expected to be strong, boosting the PBT market sentiment. There may be an increase in purchasing intentions from downstream and end-users, and the PBT market may continue to operate in a wait-and-see manner. Therefore, Longzhong expects tomorrow's East China market price for low to medium viscosity PBT resin to be around 7,400-7,700 yuan/ton.

PA6: Cautious Attitude Towards Restocking Downstream, PA6 Market Operates Steadily

1 Today's Summary

①、 Sinopec's high-end caprolactam settlement price for October 2025 is 8,580 yuan/ton (liquid superior grade, six-month acceptance for self-pickup), down 500 yuan/ton compared to the September settlement price.

②、 Sinopec's price for pure benzene in East China and South China refineries has been reduced by 200 yuan/ton, now set at 5450 yuan/ton, effective from October 21.

2 Spot Overview

Today, the polyamide 6 market is undergoing a consolidation phase, with the raw material caprolactam market also experiencing adjustments. The price differences between the resin and raw materials pose some cost pressure. However, downstream buyers are becoming more cautious, maintaining purchases based on actual needs. Overall, market transaction atmosphere is average, with actual deals being negotiated. In East China, conventional spinning PA6 is priced at 8600-8900 RMB/ton for cash and short delivery, while high-speed spinning spot prices are 9000-9300 RMB/ton for delivery with payment acceptance. In Chaohu, the cash self-pickup price is 8000-8100 RMB/ton.

3 Price Prediction

From the cost perspective, the caprolactam market is consolidating at a low level, but the cost pressure on the chips still exists. In terms of supply and demand, domestic polymerization units are operating steadily, and Guangxi Hengyi is gradually starting production, with supply expected to increase in the future. However, downstream replenishment sentiment has turned cautious, maintaining just the necessary demand. It is expected that the PA6 market will operate in a consolidating manner in the near term.

PA6: Downstream Replenishment Attitude is Cautious, PA6 Market Running Steadily

1 Today's Summary

①、 Sinopec's high-end caprolactam settlement price for October 2025 is 8,580 yuan/ton (liquid premium grade with six-month acceptance for self-pickup), a decrease of 500 yuan/ton compared to the settlement price in September.

②、 Sinopec has lowered the price of pure benzene at its East China and South China refineries by 200 yuan/ton, now set at 5450 yuan/ton, effective from October 21.

2 Spot Overview

Today, the polyamide 6 market is operating steadily, with the caprolactam raw material market also running steadily. There is still some cost pressure due to the small difference between the chip and raw material prices. However, downstream buyers have become more cautious in purchasing raw materials, maintaining procurement based on actual needs. The overall market transaction atmosphere is average, with actual transactions subject to negotiation. In East China, conventional spinning PA6 is priced at 8600-8900 yuan/ton with cash and short delivery, while high-speed spinning spot goods are priced at 9000-9300 yuan/ton with acceptance and delivery. In Chaohu, the cash self-pickup price is 8000-8100 yuan/ton.

3 Price prediction

From a cost perspective, the caprolactam market is consolidating at low levels, but there is still cost pressure from the chips. From the supply and demand perspective, domestic polymerization units are operating steadily, and Guangxi Hengyi is gradually starting production, which is expected to increase supply in the later period. However, the downstream replenishment mentality has shifted to caution, maintaining just-in-time demand. It is expected that the PA6 market will continue to operate in a consolidation phase in the near future.

PA66: Weak downstream demand, market operating in consolidation.

1 Today's Summary

① On October 24th, the market questioned the actual effectiveness of new U.S. sanctions on Russia, combined with continued weak demand, leading to a decline in international oil prices. NYMEX crude oil futures for the December contract fell by $0.29 per barrel to $61.50, a decrease of 0.47% compared to the previous period; ICE Brent crude futures for the December contract fell by $0.05 per barrel to $65.94, a decrease of 0.08% compared to the previous period. China's INE crude oil futures for the 2512 contract rose by 12.2 to 466.2 yuan per barrel, with the night session rising by 1.4 to 467.6 yuan per barrel.

As of today, the domestic PA66 utilization rate is 69%, with a daily output of approximately 2,700 tons. Some companies have increased their capacity utilization, while downstream demand remains generally average. New capacity is being gradually released, leading to a sufficient supply of goods in the domestic PA66 industry.

2 Spot Overview

Based on the Yuyao market in the East China region, today's EPR27 market price is referenced at 14,700-14,800 yuan/ton, remaining stable compared to yesterday's price. 。 The downstream demand is weak, the market has ample spot supply, there is significant cost pressure, and the market is operating in a consolidation phase.

3 Price Prediction

The cost pressure is relatively high, but the market spot supply is sufficient, the demand side is weak, and the industry sentiment is cautious. It is expected that the domestic PA66 market will weakly consolidate in the short term.