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SunSirs: Weak Market Trading, China POM Market is Sideways

February 08 2024 10:18:52     SunSirs (Selena)

Recently, the domestic POM market has remained stable, with spot prices mostly hovering sideways. According to the Commodity Market Analysis System of SunSirs, as of February 7th, the mixed price of domestic POM was 13,050 RMB/ton, which is the same as the price level at the beginning of the month.

Recently, the market price of formaldehyde in Shandong region has remained stagnant at a high level. In the early stage, formaldehyde prices followed the upward trend, which led to a stronger formaldehyde price. The current market activity is calm, with few new prices reported, and there is still sufficient support for the cost side of POM.

Recently, the operating rate of domestic POM enterprises has been lowered from a high level, dropping from 88% at the end of January to around 82%. Most companies still have low inventory levels and a strong market foundation. It is expected that the accumulation of POM inventory in the future market will be average, and there is still sufficient support from the supply side for POM spot goods.

Recently, domestic POM downstream enterprises have completed their pre holiday stocking operations, and the atmosphere on site is calm. The industry is also in a delisting state, with little trading news and a wait-and-see atmosphere. Overall, as the demand side enters the Spring Festival holiday period, it has little impact on the spot price of POM.

The recent trend of the POM market has been sideways. The operating rate of domestic polymerization plants is high, the inventory position of enterprises is low, the supply side pressure is average, and the pricing operation of manufacturers tends to be supportive of the market. Downstream orders have been suspended due to holidays, and terminal enterprises have basically gone on vacation without any purchasing operations. The market is calm on the market, and it is expected that the POM market will continue to operate steadily after the holiday.


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