Cost pressures persist, while monomer prices remain stable for the time being.

1. Daily Summary

① Raw Materials: Ethylene oxide prices in East China reached 9,700 yuan/ton, while domestic ethylene prices fell to 8,700 yuan/ton.
② Demand: The market saw sporadic spot transactions driven by rigid demand; downstream enterprises remained cautious and adopted a wait-and-see approach.

2. Spot Market Overview

Table 1: Price Summary of Domestic Polycarboxylate Superplasticizer Monomers (Unit: Yuan/ton)

Data Source: Chempricehub Information

Today, the price of domestic polycarboxylate superplasticizer monomers remained stable. In the raw materials market, ethylene oxide trading was driven by rigid demand, keeping prices steady. However, production enterprises in the ethylene sector faced increased pressure to ship products today, actively offering discounts to alleviate inventory burdens. Consequently, market acceptance of lower-grade supplies increased, leading to a decline in ethylene prices. The fundamental situation for the ethylene oxide market remains acceptable. Cost pressures on the monomer market persist, with suppliers prioritizing stable pricing and shipments due to limited room for discounts. Downstream participation is characterized by sporadic restocking based on rigid demand. Overall, the price of EPEG in the key East China market is expected to remain at 10,000–10,300 yuan/ton on the next working day.

3. Production Dynamics

Today, the operating rate of the domestic polycarboxylate superplasticizer monomer industry stood at 28.44%, reflecting a month-over-month decline. The gross margin for HPEG monomers was -200 yuan/ton.

4. Price Forecast

On the next working day, domestic polycarboxylate superplasticizer monomer prices are likely to remain stable with minor adjustments. Key raw material ethylene oxide is expected to hold steady as the market adopts a wait-and-see stance. Supply and demand within the ethylene oxide market are balanced, with overall supply pressure under control. Downstream industries are primarily consuming contracted volumes steadily. While transaction volumes for low-priced ethylene have increased, suppliers show little willingness to further adjust prices, suggesting stability will prevail. Support from the cost side may be limited. There is insufficient room for further price concessions in the monomer market. Downstream buyers will continue to purchase based on rigid demand, seeking lower-priced opportunities while maintaining a cautious mindset. Transactions will be negotiated on a case-by-case basis. Overall, the price of EPEG in the key East China market is projected to range between 10,000 and 10,300 yuan/ton.

5. Related Product Status

① Ethylene Oxide (Raw Material): Prices are expected to remain stable in the short term. On the supply side, persistent weakness in MEG prices creates expectations that co-production units may shift output toward ethylene oxide, potentially increasing supply. However, regional supply tightness persists, and factories are primarily fulfilling pre-existing contract orders, meaning the pace of new supply release may be slow in the short term. On the demand side, major downstream industries maintain rigid demand, but bargaining psychology remains prevalent, sustaining a wait-and-see atmosphere. Regarding costs, domestic ethylene prices are consolidating steadily. Shipping performance is average, and external procurement demand lacks significant momentum. In summary, supply-side factors provide certain support for ethylene oxide, leading to an expectation of stable prices in the short term. Continued monitoring of upstream and downstream developments is advised.

6. Data Calendar

Table 2: Domestic Polycarboxylate Superplasticizer Monomer Data Overview (Unit: 10,000 tons)

Data Source: Chempricehub Information
Notes:

1. ↓↑ indicates significant fluctuation (change > 3%).
2. ↗↘ indicates narrow fluctuation (change between 0–3%).