According to the bulk ranking data from SunSirs, the domestic PC market fluctuated and fell in mid May, with some spot prices of certain brands experiencing mixed ups and downs. As of May 20th, the mixed benchmark price of SunSirs PC is around 15,000 RMB/ton, with a price fluctuation of -3.12% compared to early May.

On the supply side: In mid May, the load of domestic PC aggregation enterprises has significantly decreased. Due to centralized maintenance in areas such as Luxi Chemical in Shandong, the local supply of PC has been tightened. The current industry average operating level has decreased by 8% to below 75% compared to the first ten days, and the weekly average production has fallen to below 60,000 tons. In addition, Shanghai Mitsubishi still has plans to shut down in the future. However, PC inventory has remained high for a long time, and supply is still at a high level, with ample on-site supply. Manufacturers and midstream inventory are high, and the improvement in shipment pressure is limited. The market supply side has slightly improved its support for PC prices.

In terms of raw materials, it can be seen from the above chart that the price of bisphenol A continued to decline in mid May. Downstream enterprises have inventory to be digested in the early and post holiday period, resulting in sluggish trading on site. At the same time, the industry load has increased recently, and the on-site supply of goods has increased. In terms of raw materials, acetone and phenol fluctuated after rising, with average support for spot prices, and the upward trend of upstream crude oil in the far end was hindered. Overall, bisphenol A is mainly affected by the supply-demand imbalance, and its support for PC costs continues to weaken.

In terms of demand, PC consumption in mid May continued the pattern of rigid demand, 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. The weak purchasing of new orders remains, and the trading performance continues to be dominated by contract delivery after the holiday. Merchants tend to have a wait-and-see attitude, buyers are resistant to high priced goods, and the flow of goods in the market is slow. Overall, the demand side has weak support for PC spot prices.

In mid May, the domestic PC market experienced a volatile decline. The upstream bisphenol A market fell and then consolidated, providing poor support for the PC cost side. The load of domestic PC aggregation plants has decreased, and although the pattern of strong supply remains unchanged, supply has tightened in some areas. At present, downstream demand follows the logic of essential demand, and the impact of the cancellation of US tariff policies is limited. Business operators remain cautious about the future market. At the same time, the industry's inventory is high, and the seller camp is willing to sell and sell at a discount. It is expected that the PC market will remain stagnant and consolidate in the short term. It is recommended to closely monitor the industry's inventory digestion situation.

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