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SunSirs: China PC Market was Strong in January
February 02 2024 14:37:06SunSirs(Selena)

According to the bulk list data from SunSirs, the domestic PC market remained strong after a rise in January, with spot prices of various brands increasing narrowly. As of January 31st, the benchmark price for the mixed PC of SunSirs was around 15,833.33 RMB/ton, with an increase or decrease of +0.96% compared to the beginning of the month.

In terms of raw materials: From the above figure, it can be seen that the domestic bisphenol A market in January experienced differentiation. In the first half of the month, there were many restart devices for bisphenol A, and there were also new devices put into operation, with sufficient supply. Downstream demand remains sluggish, and prices continue to decline. In the second half of the month, phenol strengthened, while bisphenol A was boosted and followed suit. The support for PC cost is relatively weak throughout the month.

In terms of supply, the overall operating rate of domestic PC fluctuated and increased in January, with the industry average gradually increasing from around 67% at the beginning of the month to over 72% at the end of the month. The return of enterprise production capacity is slow, and although the increase in supply is not significant, the on-site supply of goods is generally abundant. Factory price pricing often involves market manipulation, providing sufficient support for spot prices.

In terms of demand: At the beginning of the month, we followed the trend of bottoming out and rebounding at the end of last year, with buyers entering at a low level, driving some demand. In the mid to late period, the enthusiasm of terminal enterprises to purchase goods has returned to weak demand, with the main logic leaning towards digesting inventory and poor demand for on-site stocking. In addition, the starting position of terminal enterprises in January was not high, and the pre holiday stocking volume was not significant. The wait-and-see sentiment of operators towards the market increased, and the demand side provided moderate support for spot prices.

The PC market remained stable after rising in January. After the decline in the upstream bisphenol A market, it recovered and provided weak support for PC costs. The domestic polymerization plant has experienced a narrow increase in load fluctuations, and the market's spot supply is generally abundant. Traders have an average mentality and offer according to the market. After the holiday, there was no expected increase in supply, and there was a reduction in inventory in the midstream. Downstream enterprises have poor enthusiasm for receiving goods. It is expected that the PC price trend in early February may remain strong in the short term.


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