According to data from SunSirs, the domestic PC market saw a rebound in the first half of July following an initial decline, with spot prices for various grades largely recovering to early-month levels. As of July 14, the benchmark price for PC (mixed grades) stood at approximately 13,033.33 RMB/ton, representing a 0.51% increase compared to the beginning of the month.
Supply Side: Operating rates at domestic PC polymerization plants continued to rise in July. Following a gradual restart, Pingmei Shenma maintained stable operating loads; Luxi Chemical restarted one production line, and Zhangzhou ChiMei is preparing to resume operations, bringing the industry's overall operating rate to around 80%. Production losses have gradually narrowed, with average weekly output returning to approximately 65,000 tons, though shipment flow from polymerization plants remains moderate. Overall, the supply side offers limited support for PC prices.
Raw Materials: The domestic bisphenol A (BPA) market traded within a narrow range at low levels during the first half of July. International crude oil prices rose due to fluctuating tensions in the Middle East, driving significant increases in the prices of acetone and phenol. Market sentiment regarding BPA was positive; however, supply changes were limited in the first ten days of the month, and demand remained driven by essential needs. Approaching mid-month, the supply of prime-grade material tightened, leading holders to firm up prices; low-priced sources dwindled, and the focus of actual transaction prices shifted upward. Consequently, cost-side support for PC prices strengthened.
Demand Side: Sales at downstream PC factories remained at "off-season" levels; demand for products such as sheets and casings softened, and operating rates at end-user enterprises remained low. With PC prices currently near yearly lows, a strong wait-and-see sentiment prevails in the market. Buyers are stocking up cautiously and show little willingness to build inventory. Market liquidity has slowed; traders are pricing based on prevailing trends while cautiously attempting to raise quotes. Existing inventory needs to be cleared, limiting the extent to which polymerization plants can raise their pricing benchmarks. Overall, demand-side support for PC spot prices remains weak.
In the first half of July, the domestic PC market recovered after an initial decline. Upstream BPA prices rose from low levels, slightly increasing cost-side support for PC. Operating rates at domestic PC polymerization plants continued to rise, leading to expectations of increased supply in the future. On-market trading is sluggish, driven primarily by essential demand; stocking activity is cautious, with transactions mostly involving small orders. Currently, the PC market faces rising supply and weak demand, encountering significant resistance to upward movement; consequently, any price gains in the short term are expected to be limited.
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
