According to monitoring data from Business Society: On February 2, some hydrogen peroxide units at Shandong Jincheng Petrochemical Group Co., Ltd. were shut down for maintenance, with a quoted price of 500 yuan/ton, representing a decrease of 120 yuan/ton. PriceSeek analysis of hydrogen peroxide, supply-demand score: -1. The shutdown of some hydrogen peroxide units at Shandong Jincheng Petrochemical for maintenance should theoretically reduce supply. However, the quoted price fell by 120 yuan/ton to 500 yuan/ton, indicating weak market demand or high inventory pressure, which exerts a bearish impact on spot prices. The price decline directly reflects an imbalance in market supply and demand, possibly due to insufficient downstream demand or intensified industry competition. Short-term spot prices are expected to remain under downward pressure.