According to the bulk ranking data from SunSirs, the domestic PC market turned positive in early December, with most spot prices of various brands rising. As of December 10th, the mixed benchmark price of Business Society PC is around 13,983.33 RMB/ton, with a price increase or decrease of +0.48% compared to the end of November.
Supply side: In early December, the overall load of domestic PC aggregation enterprises increased and then decreased. At the beginning of the month, the maintenance task of Pingmei Shenma was completed and gradually restarted. Recently, the rotation and maintenance plan for multiple production lines of Zhejiang Petrochemical has been implemented, causing the industry's operating rate to drop below 80% and the weekly average production to approach 67,000 tons. Due to the tight supply of basic grade materials and the early digestion of inventory, the position is relatively controllable. Against the backdrop of decent production and sales pressure within the venue, several aggregation factories have seen a significant increase in ex factory pricing. 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 rose in early December. Although the upstream price of phenol and acetone has bottomed out and remained flat, it is difficult to say whether it is beneficial for the bisphenol A market. However, after digestion in November, the inventory pressure of bisphenol A factory has eased. At the same time, the spot price fell to a low level in the early stage, and enterprises and merchants increased their price raising operations, leading to a rebound in the market after building a bottom in the early stage. On the other hand, the improvement in the consumer side of bisphenol A is limited, and the actual trading atmosphere is average. It is expected that the price increase of bisphenol A in the future may be limited, which will slightly improve the support for PC costs.
On the demand side: Affected by the weakened profitability of terminal enterprises, the load position of PC downstream factories is still not ideal, and stocking is maintained at a low buying price, with weak demand levels. The response of finished product e-commerce and overseas markets is average, and PC terminal enterprises have conservative production schedules. Merchants within the range are following the rise of the aggregation factory, but buyers are cautious in their follow-up attitude. However, there is a strong bullish atmosphere in the future, and the actual transaction price has raised the focus of spot trading. Overall, the demand side provides moderate support for PC spot prices.
In early December, the domestic PC market saw a significant increase in prices. The upstream bisphenol A market has stopped falling but has risen, and the cost value has increased to support PC. After the increase in load of domestic PC aggregation plants, they have lowered their prices, and there is an expectation of tightening the basic grades in the future market. The bullish atmosphere in the market is still present. However, the market trading situation remains moderate, and it is expected that the short-term rise in PC prices may be limited.
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