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SunSirs: Moderate Game between Supply and Demand, China PC Market Remains stable with Little Fluctuations
April 18 2024 10:51:57SunSirs(Selena)

According to the bulk list data from SunSirs, the domestic PC market has been generally stable recently, with spot prices of various brands fluctuating. As of April 16th, the benchmark price for the mixed PC of SunSirs was around 16,200 RMB/ton, with an increase or decrease of +0.41% compared to the beginning of the month.

In terms of raw materials, it can be seen from the above figure that bisphenol A rebounded at the bottom in early April. Affected by the high level operation of international crude oil, pure benzene phenol bisphenol A shows an upward trend. In addition, due to the shutdown and maintenance of some bisphenol A plants in the early stage, the current industry operating rate is only around 60%, dropping to a new low in six months. Overall, the benefits of bisphenol A mainly come from supply and cost, while the consumption aspect is slightly lighter. In the future, it may be organized and operated, and the support for PC spot goods is still sufficient.

In terms of supply: Recently, the overall operating rate of PC in China has undergone a narrow adjustment, with an industry average operating rate of around 77%. Recently, Zhejiang Petrochemical's maintenance has gradually resumed, and there is expected to be a slight increase in supply in the future. PC supply side support is average.

In terms of demand: Recently, PC consumption has taken on the previous weak pattern, with the main logic leaning towards maintaining production and digesting inventory for just needs. Downstream enterprises have poor stocking enthusiasm and weak demand. Buyers have some resistance to high priced sources, and the demand side has poor support for spot prices.

Recently, the PC market has remained stable with minor fluctuations. Upstream bisphenol A rose and then fell sideways, providing decent support for PC costs. The load variation of domestic polymerization plants is limited. The consumption on the demand side lags behind, and the trading volume is cold and sparse. It is expected that the PC market in the future will be constrained by weak terminal demand, and prices may stagnate before entering a consolidation market.


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