Post-rise consolidation

1. Today’s Summary

① Shandong Depu Phase I and Phase II are operating normally; Shandong Lihua Yi is in normal production.

② The Shandong market price remained stable today. Quoted prices: Shandong at CNY 5,100/ton, East China at CNY 5,300/ton, South China at CNY 5,850/ton, and Northwest China at CNY 4,710/ton.

2. Spot Market Overview

Table 1: Domestic Dimethyl Carbonate (DMC) Price Summary (Unit: CNY/ton)

Data Source: Chempricehub Information

Taking the Shandong region as the benchmark, DMC closed at CNY 5,100/ton today, remaining stable compared to the previous business day. The domestic DMC market exhibited a consolidation trend following recent price increases. Driven by sustained prior price hikes, end-user enterprises experienced heightened anxiety regarding further price rises, leading to significantly improved procurement enthusiasm and faster purchasing rhythms, which warmed up market trading activity. Currently, after a round of upward movement, the market has entered a consolidation phase. Suppliers maintain a generally positive sentiment; however, future trends depend on the sustainability of end-user demand follow-through and changes in raw material costs.

3. Price Forecast

Overall, supported by strong cost factors and phased restocking by demand-side players, the DMC market is expected to remain in a consolidation mode. Attention should be paid to raw material trends and downstream acceptance levels.

4. Related Products Status

Propylene Oxide (PO): The domestic PO market softened and showed signs of loosening today. On the supply side, Wanhua Chemical’s Phase III unit gradually shut down, while other facilities remained stable. Active plants saw reduced shipments starting yesterday, with indications of downward negotiation from stability today. Trading remains relatively quiet. Propylene prices weakened and declined, reducing cost support. Downstream demand showed limited pass-through effects due to cautious observation, and favorable drivers for PO were scarce. Most buyers reduced volumes or waited for opportunities. Southern contracts dominated, resulting in a weakly consolidating market.

Polycarbonate (PC): The domestic PC market fluctuated at high levels and consolidated today. By the morning close, the negotiated range for domestic PC materials in East China was CNY 12,950–15,050/ton, with centers mostly stable compared to yesterday, though some adjusted by CNY 100–150/ton. This week, domestic PC plant ex-factory prices remained stable or increased by CNY 200/ton. Zhejiang Petrochemical’s auction opened high with four rounds of transactions completed, rising CNY 300/ton from last week. In the spot market, both East and South China regions remained temporarily stable with minor adjustments in price centers. Competition between industry costs and demand remains fierce. Given that PC prices have risen again to recent highs, market participants are cautious and waiting to see. Slight increases in immediate deliveries were observed, but downstream maintained rigid demand only, keeping the trading atmosphere cold.

5. Data Calendar

Table 2: Domestic DMC Data Overview (Units: 10,000 tons, CNY/ton)

Data Source: Chempricehub Information
Notes:

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