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SunSirs: Supply Pressure still Exists, and the Recovery of POM is Blocked in China
August 05 2022 09:10:28SunSirs(Selena)

According to SunSirs, the POM market rises this week, and the spot prices of various brands rise. As of August 4, the ex factory price reference offer of POM injection molding sample enterprises in SunSirs was about 18,566.67 RMB/ ton, up or down +2.77% compared with the average price level at the beginning of the month.

Industrial chain: in terms of upstream formaldehyde, Shandong formaldehyde market fluctuated this week, with spot prices rising and falling. The price of upstream methanol is high and low, and the support for formaldehyde is general. The downstream plate plant is not well started, the demand continues to be weak, the overall inventory is high, and the stock removal is slow. It is expected that the price of formaldehyde in Shandong will mainly fall in the short term.

The upstream formaldehyde market is volatile and has risen recently. POM cost side support is acceptable. In terms of industry load, recently, domestic POM enterprises have a high load and increased competition. POM rose in the short term due to the small rise in the upstream, but the inventory of manufacturers and midstream was high, the operating rate of terminal enterprises was generally restricted by profits or orders, and the operating rate narrowed, the consumption of POM in the field was slow, and the off-season market was difficult to change. Terminal enterprises are cautious in purchasing, mainly taking small orders, and have a heavy wait-and-see mood. There is a certain contradiction between supply and demand in the market, and the spot price is under pressure and stagnant.

SunSirs analysts believe that China domestic POM market rose this week, while the upstream formaldehyde market rose in the second half of the week, and POM cost support was acceptable. The load of POM industry is high, and the support of supply side is poor. The consumption of downstream enterprises is weak, and there is no large-scale replenishment in procurement. It is expected that in the short term, the rise of POM price may be blocked due to the contradiction between supply and demand in China.

 

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