The upward trend has moderated.

1. Today's Summary

① Shandong Deppu Phase III is shut down; Phase II is operating normally. Shandong Lihua Yi is in normal production.

② Prices in the Shandong market rose today. Quotations were 5,575 RMB/ton in Shandong, 5,850 RMB/ton in East China, 6,150 RMB/ton in South China, and 5,355 RMB/ton in Northwest China.

2. Spot Market Overview

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

Data Source: Chempricehub Information

Based on the Shandong region as a benchmark, DMC closed at 5,575 RMB/ton today, up 50 RMB/ton from the previous business day. The domestic DMC market continued its mild upward trend, with trading centers shifting gradually higher. On the supply side, factory inventories remained generally low across producers. Some manufacturers reported decent order volumes, while individual plants began selling based on pre-booked orders, leading to tight spot circulation and strong price-holding intentions among factories. On the demand side, activity weakened slightly. End-users showed lower enthusiasm for entering the market compared to earlier periods and were cautious about accepting high-priced goods. Purchasing was primarily driven by meeting rigid demand requirements, with insufficient willingness to chase rising prices in bulk.

3. Price Forecast

Overall, supply-side support remains present, but demand follow-through is moderate. It is expected that the short-term DMC market will maintain a stable to slightly bullish trend. Further upside potential is relatively limited, and future attention should be paid to downstream restocking pace and factory order backlog status.

4. Related Products Status

Propylene Oxide (PO): The domestic PO market continued to rise today. Supply-side units operated stably, and sales remained smooth without pressure after quote increases. In major regions, gains were slightly narrower due to some premium sales yesterday. Raw materials propylene and liquid chlorine continued to provide strong support. Feedback from downstream indicated slightly fewer new orders, but given the strength of PO, there are no immediate downside risks. Most stakeholders maintained their positions, resulting in good market consolidation. The market may see small further increases followed by digestion.

Polycarbonate (PC): The domestic PC market maintained firm pricing operations. By the afternoon close, the negotiated range for domestic-grade PC in East China was 12,650–15,050 RMB/ton, with the center of gravity mostly increasing by 100–200 RMB/ton compared to the previous day. A certain PC plant in Shandong raised ex-factory prices again by 200 RMB/ton, while other plants showed no latest adjustment movements. In the spot market, both East and South China saw firm increases. Cost-side support along the industrial chain remains strong, and holders have strong intentions to hold prices and push them up. Downstream users passively followed suit, but transactions at high prices remained sluggish.

5. Data Calendar

Table 2: Domestic Dimethyl Carbonate (DMC) Data Overview (Unit: 10,000 tons, RMB/ton)