Downstream buyers adopt a cautious wait-and-see approach; market sentiment cools, leading to subdued negotiations (September 18, 2026)

1. Daily Summary

① Plant shutdowns at Zhenhai Phase 2, Guoen, and other facilities have impacted the on-site market, resulting in a stable but slightly sluggish trading atmosphere.

② Today’s domestic propylene oxide (PO) capacity utilization rate stands at 70.69%.

2. Spot Market Overview

Table 1: Summary of Domestic Propylene Oxide Prices (Unit: CNY/ton)

Data Source: Chempricehub Information

Based on the Shandong region as a benchmark, today's propylene oxide price closed at 11,935 CNY/ton, showing a month-on-month decline consistent with morning expectations.

Today, the domestic propylene oxide market remained stable but trended downward. Supply-side fluctuations occurred within plants; Qixiang maintained normal external sales. After a period of continuous sideways movement, market participants are watching for weakening trends in crude oil and propylene. Downstream buyers remain cautious in their purchasing decisions, leading to a cooler trading atmosphere across regions. Prices generally slid steadily from stability, with most sellers willing to negotiate shipments. In contrast, the East China market, driven primarily by contract orders, saw almost no spot transactions, keeping prices temporarily stable.

3. Production Dynamics

The propylene oxide capacity utilization rate is 70.69%. Currently, plants such as Zhenhai Phase 2 and Guoen have shut down. Cost support has rebounded slightly while maintaining stability.

4. Price Forecast

Looking ahead, market volatility appears weak. Tomorrow may see a slight decline in quoted prices. Before the upcoming holiday, downstream buyers are mostly waiting for appropriate price corrections before making necessary purchases, with all parties maintaining a wait-and-see attitude.

5. Related Products Status

Propylene Market: Today, propylene prices in Shandong dropped significantly. The mainstream closing reference was 9,650–9,700 CNY/ton, with an average price of 9,675 CNY/ton, a decrease of 110 CNY/ton from the previous working day. Lacking positive catalysts, downstream buyers largely adopted a wait-and-see approach, continuously pressuring producers' shipments. Quotations were mainly adjusted downward with concessions. High-level transactions remained sluggish, with actual transaction centers shifting toward mid-to-low levels.

Liquid Chlorine Market: Today, downstream procurement in Shandong remained stable, driven by demand-based purchasing. Large-volume buying was cautious. Upstream enterprises faced no inventory pressure, resulting in a generally stable overall trend. Current liquid chlorine prices are 250–300 CNY/ton in the North Lu region, 150–250 CNY/ton in the South Lu and Southwest Lu regions, and 250–300 CNY/ton in the Jiaodong Peninsula region.

Flexible Foam Polyether Market: High-end flexible foam polyether assessments: Shandong reference is 12,100–12,500 CNY/ton (cash basis); East China negotiated prices are 12,300–12,700 CNY/ton (cash delivered); South China negotiated prices are 12,400–12,700 CNY/ton (cash delivered). Specific negotiations apply. During the morning session, the spot market trended downward. Buying interest within the market remained light, with an increase in low-price quotations. Downstream inquiries were cautious, actual transaction feedback was insufficient, and the wait-and-see sentiment was heavy.

6. Data Calendar

Table 2: Domestic Propylene Oxide Data Overview (Unit: 10k tons, CNY/ton)

Data Source: Chempricehub Information
Notes:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuation, highlighting data dimensions with changes within 0–3%.