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SunSirs: Price Balance Point, China POM Continues to Run horizontally
January 30 2024 10:08:21SunSirs(Selena)

Last week, the domestic POM market remained stable with minor fluctuations, and spot prices mostly remained stable. According to the Commodity Market Analysis System of SunSirs, as of January 26th, the mixed price of domestic POM was 13,025 RMB/ton, a decrease of -0.19% from the price level at the beginning of the month.

The commodity market analysis system of SunSirs shows that the price of formaldehyde in the Shandong region rose horizontally last week, with the increase concentrated in the first half of the week. Boosted by the rise in raw material methanol prices in the early stage, formaldehyde followed the upstream trend. But as the Spring Festival approaches, downstream sheet metal factories are taking more vacations, making it difficult to release demand. In the second half of the week, prices have flattened, and overall support for POM costs is strong.

Last week, the overall operating rate of domestic POM enterprises continued to rebound. The industry equipment load is approximately 88%. There are relatively few maintenance arrangements in the future, and it is expected that POM production will remain at a high level. Most companies have relatively low inventory levels and a strong willingness to support the market. The supply side still has sufficient support for POM spot goods.

Last week, downstream POM enterprises in China had poor operating levels, with the focus on digesting inventory. On exchange trading was weak, and POM consumption continued to be weak. The operator needs to follow up with a small amount of urgent needs, operates cautiously, and resists high priced sources of goods. The pre holiday stocking operations have been gradually completed, and overall, the demand side's support for POM spot prices is weak.


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