According to the bulk ranking data of SunSirs, after the May Day holiday, the domestic PC market has fallen from a low level, and the spot prices of most brands have been weak. As of May 13th, the mixed benchmark price of SunSirs PC is around 15,200 RMB/ton, with a price fluctuation of -1.83% compared to early May.

On the supply side: As we enter May, domestic PC aggregation enterprises will experience high and stable loads with small fluctuations. The current industry average operating level is still fluctuating around 83% compared to the beginning of the month. During this period, the weekly average production remained above 60,000 tons, still at a super high level, and the on-site supply was very abundant. Manufacturers and midstream inventory are high, and shipping pressure continues to be significant, with weak market supply side support for PC prices.

In terms of raw materials, the price of bisphenol A fell from a high level in May. Low price replenishment at the end of April in the early stage boosted market momentum. At the same time, some regions are experiencing tight supply, supporting the upward trend of spot prices. However, downstream enterprises have inventory waiting to be digested after the holiday, and on-site trading is sluggish. In terms of raw materials, acetone and phenol are consolidating at a low level, which lacks sufficient support for spot goods. The positive transmission of oil recovery in the remote upstream still needs time. Overall, the support of raw materials for PC costs has weakened compared to before the holiday.

In terms of demand, PC consumption in May continued the weak rigid demand pattern, and new orders in the market remained basically at the same level as the same period in previous years. The downstream factories are operating normally and stocking up is proceeding as planned. Due to the long-term weak market dynamics in the industry, high social inventory, and abundant on-site supply, the contradiction between supply and demand tends to lead to destocking. Against the backdrop of contract delivery and shrinking new order procurement after the holiday season, merchants tend to be cautious and cautious. Buyers are resistant to high priced goods, and the circulation speed of on-site goods is returning slowly. Overall, the demand side has weak support for PC spot prices.

Since May, the domestic PC market has been running at a low level with some decline. The upstream bisphenol A market is in a downward trend, which provides poor support for the cost side of PC. The load of domestic PC aggregation plants is generally stable, and the pattern of strong supply remains unchanged. At present, downstream demand follows the logic of weak rigid demand, and the impact of the cancellation of US tariff policies and the rebound of crude oil has not yet been fully transmitted. Industry players remain cautious about the future market. At the same time, the industry's inventory is high, and the seller camp is reducing prices and increasing their sales operations. Overall, the pressure on PC production and sales remains, and it is expected that the weak PC market will continue to have some inertia in the short term. It is recommended to closely monitor news related to the foreign trade environment.

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