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SunSirs: China PC Market is at a Low Level, the Supply and Demand is Weak
November 09 2022 10:37:12SunSirs(Selena)

According to the data monitoring of SunSirs, the average offer price of PC domestic sample enterprises was 18,433.33 RMB/ ton on October 30, and the domestic price was 18,116.67 RMB/ ton on November 8. The range of decline was -1.72%, up and down by -4.31% compared with the price on October 1.

The global high inflation macro-economy has continued to affect the petrochemical industry chain, but the news of the Federal Reserve's interest rate increase and slowdown has been released recently, and the negative side of the market is less than expected. In addition, the international crude oil production reduction plan was announced. Last week, crude oil rebounded after falling, and PC macro environment and remote costs supported the recovery.

In terms of raw materials: from the figure above, it can be seen that the domestic bisphenol A market continued to be weak in November, and the price continued to fall. At present, from the macro perspective of the chemical industry, the overall situation shows a downward trend. Bisphenol A's own industrial chain is also in a downward trend, and the support of the industry fundamentals is absent. As of November 7, in the morning, a petrochemical company in East China had bid for first class and superior products at a starting price of 11,800 RMB/ ton and 11,900 RMB/ ton. The East China market had implemented an offer of about 12,000-12,100 RMB/ ton, and the on-site negotiations were sluggish. There are few active inquiries in the market. In the short term, the market lacks of advantages.

In terms of supply: Recently, the utilization rate of PC capacity has continued to decline, and the total load of domestic PC enterprises has dropped from more than 55% to nearly 45% within one month. As the industry neared the end of the year, the maintenance was gradually concentrated, and the supply side was significantly tightened. However, the flow of goods in the market is slow, which has hit the confidence of enterprises and merchants in price fixing.

Demand: The actual demand of PC downstream before did not match the traditional peak season, and the actual demand was less than that of previous years. However, at the end of the current traditional demand season, the terminal enterprises started down, and just needed to support the overall decline. There is little trading on the market, and the actual orders are mainly scattered small orders. Buyers have a heavy wait-and-see attitude, and their enthusiasm for preparing goods is poor.

In the first ten days of November, the PC market fell, the upstream bisphenol A was weak and difficult to change, and the support for PC cost collapsed. The load of domestic polymerization plants is lower, and the supply side has a good profit and is still expected to decline in the short term. In terms of demand, it has weakened synchronously, and the rigid demand support has weakened. The smoothness of goods delivery of merchants is low, and most of them have the operation of making profit order. In general, the supply reduction of PC failed to offset the negative impact, and the market showed a pattern of weak supply and demand and cost collapse. However, the near low spot price will certainly stimulate buying, and it is expected that the recent decline in China PC market will narrow and stabilize.

 

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