According to the bulk ranking data of SunSirs, the domestic PC market rebounded at a low level at the end of September, and some spot prices of certain brands have increased. As of September 25th, the mixed benchmark price of Business Society PC is around 14,450 RMB/ton, with a price increase or decrease of 1.40% compared to early September.

On the supply side: In the second half of September, domestic PC aggregation enterprises experienced a large and stable increase in load with a small rise. The regular rotation inspection of Wanhua Chemical in the early stage has been completed, and at the same time, the maintenance tasks of Lihua YiweiRMB and Zhejiang Petrochemical have gradually been completed, resulting in varying degrees of capacity return. The industry load has increased from 79% in the first half of the month to 84%. The average weekly output is close to 70,000 tons or more, and there is sufficient supply of goods on site. In terms of inventory, there is a high-level stalemate, and the pattern of abundant PC supply remains unchanged. However, in recent days, some aggregation plants have released information on their maintenance arrangements for the fourth quarter, which has led to a significant decrease in future market supply and boosted spot prices. Overall, the current weak reality and strong expectations in the PC supply side have led to a low-level rise in PC support.

In terms of raw materials: Thanks to the digestion of inventory by bisphenol A enterprises and the improvement of the loose supply pattern, bisphenol A significantly rose in the first half of September. With the recovery of supply, the mentality of operators has loosened. After the upstream phenol and acetone both rose and then retreated, the boost to the bisphenol A market narrowed, and multiple factors caused the spot price of bisphenol A to fall at a high level. In addition, there was no significant increase in pre holiday market trading, and the market may continue to experience a pullback in the future, while the support effect on PC costs will weaken.

On the demand side: Currently, PC is in the traditional peak season period, and downstream factories have poor load, with weak inventory levels and no early warehouse construction operations, resulting in a situation of "not prosperous during peak season". However, in recent times, remote maintenance signals have stimulated the midstream to try a small increase, but the pre holiday market trading activity is still limited, and businesses are often seen selling and withdrawing funds along with the market. Due to the long-term weak market dynamics in the industry, high social inventory, and abundant supply of goods on site, the prices of aggregation plants have remained under pressure and have not increased significantly. Foreign trade orders are also weak, and terminal enterprises are resistant to high priced sources of goods. After the demand for filling vacancies in the future is met, it is expected that the flow of goods in the market will slow down again. Overall, the demand side has weak support for PC spot prices.

At the end of September, the domestic PC market rebounded at a low level. The upstream bisphenol A market has fallen at a high level, and the cost value has loosened its support for PC. The load of domestic PC aggregation plants has rebounded, but the pattern of strong supply remains unchanged. Stimulated by favorable long-term maintenance, PC spot prices rose at a low level. However, the pre holiday stocking heat is not good, and there is a standoff between long and short positions in the market. It is expected that the PC market may enter a stalemate in the short term.

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