According to the bulk ranking data from SunSirs, the domestic PC market was mainly volatile in early November. The spot prices of most brands are fluctuating. As of November 11th, the mixed benchmark price of SunSirs PC is around 14,033.33 RMB/ton, with a price fluctuation of -0.94% compared to early November.
On the supply side: In the early stage of October, domestic PC aggregation enterprises conducted centralized maintenance, but since November, there has been a trend of mutual restart and maintenance. The restart of Lihua Yiwei Yuan is approaching, and Zhejiang Petrochemical's maintenance arrangements cover multiple production lines. The industry's operating rate has been reduced by 4% to 74%, and the weekly average production is around 62,000 tons, a decrease from the beginning of the month. In terms of inventory, after early digestion, the position has dropped to a low level, easing the pressure on factory production and sales, and improving the pattern of abundant PC supply. Overall, the PC supply side has strengthened its support for PC.
In terms of raw materials, it can be seen from the above chart that the bisphenol A market continued to decline in November. The price position of upstream phenol acetone is relatively low, which is difficult to say for the bisphenol A market. In addition, the continuous weakness of bisphenol A consumption has led to a rapid decline in spot prices due to multiple factors. Although the current domestic market atmosphere is still bleak, spot prices have fallen to low levels, coupled with relatively controllable inventory, leading to increased price manipulation by enterprises and businesses, forming a bottoming force. It is expected that the price of bisphenol A will remain stable in the future, but the support for PC costs will still be weak.
On the demand side: The load position of downstream factories is still not ideal, and inventory is kept buying at low prices, with weak demand levels. Although maintenance has stimulated some brands to rise, the improvement in market trading activity is limited. At the same time, external news has disrupted the export market, and the overseas shipment of PC terminal products continues to be under pressure and weaken. Merchants within the range tend to follow the market trend and adopt a cautious and wait-and-see attitude. After meeting the demand for filling vacancies in the early stage, the market trading atmosphere returned to calm, and the speed of goods circulation slowed down again. Overall, the demand side provides moderate support for PC spot prices.
In early November, the domestic PC market experienced narrow fluctuations. The upstream bisphenol A market is weak at a low level, and the cost value has not shown any improvement in supporting PC. The load of domestic PC aggregation plants continues to decrease, but there are expectations of a short-term rebound in the market. The market trading situation has returned to weakness, with long and short positions in the market. It is expected that the PC market will continue to consolidate in the short term.
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