Monomers prices remain stable amid steady demand-driven trading

1. Daily Summary

① Raw Materials: East China ethylene oxide (EO) prices remained at 9,700 RMB/ton, while domestic ethylene prices held steady at 8,775 RMB/ton.

② Demand: Market sentiment remained cautious with significant wait-and-see attitudes; downstream buyers continued to procure selectively at lower price levels.

2. Spot Market Overview

Table 1: Domestic Polycarboxylate Superplasticizer Monomer Price Summary (Unit: RMB/ton)

Today, the market price of domestic polycarboxylate superplasticizer monomers remained stable. The raw material ethylene oxide (EO) market saw steady trading based on balanced supply and demand, with prices maintaining a firm trend. There were no significant changes in the supply-demand dynamics for ethylene. Producers primarily maintained stable offers. Derivative markets continued to show essential demand inquiries, but overall trading activity was moderate. The fundamentals of the EO market performed reasonably well, with the monomer market focusing on stable-price shipments and releasing small orders driven by essential demand. Downstream sectors remained cautious in restocking. In summary, it is expected that the leading East China EPEG price will remain between 10,000–10,200 RMB/ton on the next working day.

3. Production Dynamics

Today, the industry capacity utilization rate for polycarboxylate superplasticizer monomers stood at 30.01%, representing a month-on-month decline. The gross profit margin for HPEG monomers was -559 RMB/ton.

4. Price Forecast

On the next working day, domestic polycarboxylate superplasticizer monomer prices are likely to remain temporarily stable. The key raw material, ethylene oxide, is expected to maintain a firm trend. Previously shut down units for maintenance have not yet resumed operations, so supply pressure within the market remains manageable, with fewer low-priced spot cargoes available. Downstream industries across various sectors are primarily consuming contract volumes steadily. Low-end ethylene transactions have increased, and producers face no inventory pressure, suggesting market prices may continue their stable trajectory. Cost-side support appears to be near the bottom. The monomer market is focused on steady shipments with little willingness to offer discounts. Downstream buyers are largely digesting previous stockpiles, with only limited essential orders following up as most parties adopt a wait-and-see attitude; transactions are negotiated based on volume. In summary, the leading East China EPEG price is projected to range between 10,000–10,200 RMB/ton.

5. Related Product Status

① Ethylene Oxide (Raw Material): EO prices are expected to remain stable. On the supply side, previously shut-down units for maintenance have not yet restarted, continuing the tight supply situation within the market with no new cargo additions. On the demand side, major downstream industries exhibit strong wait-and-see sentiments, with procurement driven mainly by essential needs. On the cost side, domestic ethylene prices remain stable, supply pressure within the market is low, and derivative markets follow essential demand. Overall, the EO supply side provides underlying support, and prices are expected to remain stable. Future developments in supply and demand should be closely monitored.

6. Data Calendar

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