Positive Drivers Lead to Continued Upward Trend in Monomer Prices (September 16, 2026)

1. Daily Summary

① Raw Materials: East China ethylene oxide (EO) prices held steady at 9,200 RMB/ton; domestic ethylene prices remained stable at 9,300 RMB/ton.

② Demand: Downstream enterprises showed cautious willingness to chase highs or replenish stocks, limiting purchases to essential requirements in small volumes.

2. Spot Market Overview

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

Domestic prices for polycarboxylate superplasticizer monomers continued to rise today. Related product ethylene glycol prices pushed upward, while spot supply of ethylene oxide (EO) remained tight within the market, keeping EO prices firm at high levels. Ethylene producers primarily relied on pre-sales for shipments today, with delivery schedules already extending into October. Profit margins for EO derivatives remain reasonable, sustaining procurement demand for ethylene. Although trading volume increased at higher price points, overall transactions were still driven by essential demand. Fundamentals in the EO market provided support, maintaining prices at elevated levels. Cost-side support remains strong, and insufficient spot supply of monomers within the market has continued to drive price increases. Downstream procurement focused mainly on essential needs, with a cautious purchasing mindset. In summary, the price for EPEG in the key East China market is projected to reach 11,300–11,500 RMB/ton on the next working day.

3. Production Dynamics

Today, the capacity utilization rate for the polycarboxylate superplasticizer monomer industry stood at 24.21%, representing a month-over-month decline. The gross profit margin for HPEG monomers was 1,156 RMB/ton.

4. Price Forecast

On the next working day, domestic prices for polycarboxylate superplasticizer monomers are likely to remain at high levels. Key raw material EO prices may stay firm at elevated levels, while ethylene glycol prices could continue their upward trend. Tight spot resources of EO within the market provide price support. Various downstream industries are expected to maintain steady consumption. Currently, ethylene supply is limited; however, transactions are primarily based on essential demand, leaving insufficient momentum for further price increases. Supply constraints on the monomer side strongly support market prices. Downstream buyers will maintain follow-up purchases based on essential needs, with transactions negotiated according to volume. Short-term prices are expected to trade firmly. In summary, the price for EPEG in the key East China market is projected to reach 11,300–11,500 RMB/ton on the next working day.

5. Related Product Updates

① Ethylene Oxide (Raw Material): The EO market is expected to consolidate at high levels. On the supply side, ethylene glycol prices remain high, prompting co-production units to prioritize ethylene glycol production; consequently, the shortage of EO spot supply has not yet eased. Major downstream industries have performed steadily, with consumption progressing smoothly. On the cost side, available spot ethylene is tight. However, expectations of reduced loads and shutdowns for styrene-based derivatives persist, leading to decreased essential buying and weakening the push for further price hikes. Transactions at high prices face pressure, though cost support remains intact. Overall, short-term supply and cost factors continue to provide support, suggesting prices may remain at high levels. Future movements should be monitored across both upstream and downstream sectors.

6. Data Calendar

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