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SunSirs: Supply is on the Rise, China POM Market is Strengthening
September 21 2023 11:18:54SunSirs(Selena)

In mid September, the domestic POM market continued to show a positive trend, with spot prices continuing to rise. According to the Commodity Market Analysis System of SunSirs, as of September 19th, the mixed price of domestic POM was 15,050 RMB/ton, a decrease of +3.97% compared to the price level at the beginning of the month.

According to the analysis system chart of the commodity market of SunSirs, the formaldehyde market price in Shandong region has recently fallen and then moved sideways. On market trading tends to be light, and the price of raw material methanol shows a downward trend. Weak demand combined with declining cost support is expected to lead to a decline in formaldehyde prices in Shandong in the near future.

In mid September, the maintenance and resumption of POM devices in China were mutually reinforcing, with an overall decline in operating rates and a decrease in industry load to below 73%. In terms of supply, current inventory continues to be low, and most enterprises have no inventory pressure, even experiencing negative inventory oversold. However, the profitability of enterprises has recently shrunk, and the overall level of POM supply support is still acceptable.

At present, the operating level of downstream POM enterprises in China is not high, and they are stimulated by tight supply of goods. In the early stage, the enthusiasm of enterprises to stock up is still good. However, recently, the acceptance of POM prices by buyers has decreased, and order transactions have shrunk. The situation of on-site trading has significantly weakened compared to the previous stage. Overall, the demand side's support level for POM spot prices has declined.

In mid September, the POM market strengthened after rising. The operating rate of domestic polymerization plants continues to decline, and the supply of goods on site remains tight. The industry's inventory pressure is relatively low, and the supplier's support for spot goods is still acceptable. On the demand side, the operating rate of terminal enterprises is maintained, and market chasing operations are reduced. Downstream users are gradually resisting high priced sources of goods. Traders have increased their actual orders and covert shipments. At present, the supplier advantage is still strong, but in the short term, the stocking sentiment is cautious and there is an expectation of increased supply in the industry. It is expected that the POM market may enter a volatile consolidation market in the future.


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