Cost Side: The price of the raw material ethylene oxide (EO) remained stable throughout the week, providing bottom-line support on the cost side.
Supply Side: On-site units reduced operating loads, while previously maintained units restarted. Consequently, the supply volume decreased slightly.
Demand Side: Downstream users entered the market for rigid demand procurement, maintaining a cautious sentiment.
Table 1: Weekly Comparison of Closing Prices in the Chinese Polycarboxylate Superplasticizer Monomer Market
Unit: CNY/ton
| Region | Specification | 2026/10/29 | 2026/11/5 | Change Value | Change Rate |
|---|---|---|---|---|---|
| East China | EPEG | 10270.00 | 10460.00 | 190.00 | 1.85% |
| HPEG | 10370.00 | 10560.00 | 190.00 | 1.83% | |
| TPEG | 10370.00 | 10560.00 | 190.00 | 1.83% | |
| South China | EPEG | 10360.00 | 10510.00 | 150.00 | 1.45% |
| TPEG | 10460.00 | 10610.00 | 150.00 | 1.43% | |
| HPEG | 10460.00 | 10610.00 | 150.00 | 1.43% | |
| Northeast | EPEG | 10195.00 | 10240.00 | 45.00 | 0.44% |
| HPEG | 10195.00 | 10240.00 | 45.00 | 0.44% | |
| TPEG | 10295.00 | 10340.00 | 45.00 | 0.44% |
Data Source: Chempricehub Information
During this period (October 30 to November 5, 2026, hereinafter referred to as "this period"), prices of polycarboxylate superplasticizer monomers rose slightly as rigid demand was released. As of November 5, the mainstream market price for EPEG monomers in East China was 10,500 CNY/ton, an increase of 150 CNY/ton from the previous week. The weekly average price for EPEG in the key East China market was 10,460 CNY/ton, up 190 CNY/ton week-on-week. Specifically:
East China Market: Some on-site units operated at reduced loads, leading to a slight contraction in supply. Manufacturers showed a clear reluctance to sell at low prices due to accumulated undelivered orders and manageable inventory pressure, primarily focusing on maintaining prices while selling. EO units experienced both load reductions and shutdowns, further reducing supply. Supported by supply constraints and strong ethylene feedstock prices, EO prices remained stable, providing solid cost-side support. Downstream purchasing pace was conservative, with only small-volume rigid demand orders being fulfilled as needed.
Northeast Market: A few regional units underwent short-term shutdowns, while others maintained normal operations. Monomer producers did not accumulate inventory, with many holding undelivered orders. Low-priced supply decreased, pushing prices slightly higher. However, due to dropping temperatures in the north, downstream acceptance of high-priced raw materials was low, leading to a wait-and-see attitude.
South China Market: Previously maintained units resumed operations, resulting in a slight increase in market supply. Downstream participants were mostly in a wait-and-see mode regarding future trends, entering the market only for rigid demand. Willingness to accept high prices was low, making it difficult for new orders to concentrate in large volumes; overall trading remained limited to rigid demand transactions.
Market Influencing Factors (Data)
Supply Data: During this period, the capacity utilization rate of the domestic polycarboxylate superplasticizer monomer industry was 28.78%, down 1.55 percentage points from the previous week. Weekly production was 32,100 tons, a decrease of 5.03% week-on-week.
Inventory Data: As of Thursday, the sellable inventory rate at domestic polycarboxylate superplasticizer monomer factories was -26.48%, down 1.42 percentage points from the previous week. Sellable inventory volume was -50,600 tons, a decrease of 3,100 tons compared to the previous period.
Cost Data: During this period, the weekly average cost of HPEG in East China was 10,792 CNY/ton, an increase of 108 CNY/ton week-on-week. The weekly average cost of TPEG was 10,549 CNY/ton, remaining flat week-on-week.
Profit Data: During this period, the weekly average profit for HPEG in East China was -232 CNY/ton, an improvement of 82 CNY/ton from the previous week. The weekly average profit for TPEG was 11 CNY/ton, an improvement of 208 CNY/ton from the previous week.
Supply Forecast: Operating loads of monomer units may adjust within a narrow range, with little change in supply volume.
Demand Forecast: Downstream users are likely to maintain a pace of rigid demand replenishment.
Cost Forecast: EO price trends may remain stable in the short term, providing potential support for monomer costs.
Comprehensive Outlook: In the short term, polycarboxylate superplasticizer monomer prices may remain stable with minor adjustments. Market fluctuations will depend more on changes in supply-demand dynamics.
Supply Side: Previously shut-down units may resume operations, while other units may undergo narrow-range load adjustments. There are no expectations for new maintenance schedules, so overall operating rates will likely fluctuate within a narrow range. Monomer enterprises are actively delivering accumulated orders, keeping inventory pressure manageable. Short-term supply operations are expected to remain relatively stable.
Demand Side: Downstream users are prioritizing the consumption of existing inventories. While there is an expectation for replenishment, market entry sentiment remains cautious with pessimistic views on the future. There is resistance to purchasing high-priced goods, with market entry mainly consisting of small-volume rigid demand orders following a "buy-as-needed" strategy. It is difficult for new orders to surge in volume, meaning demand provides only moderate support to the market.
Cost Side: The Democratic Party winning the midterm elections has reduced the risk of large-scale US-Iran conflicts, weakening geopolitical support for oil prices and creating downward pressure. Currently, ethylene prices remain strong due to insufficient available supply. However, major derivatives such as polyethylene, styrene, and ethylene glycol have seen significant price declines. Weakness in the demand sector may negatively impact ethylene, hindering further price increases. The EO market continues to face concentrated maintenance schedules, resulting in tight balance in supply. Both supply and cost sides provide support to the market. EO prices are expected to remain stable in the short term.
For more detailed weekly market analysis, please refer to the Chempricehub Polycarboxylate Superplasticizer Monomer Weekly Report.
[Historical Reference Section]
During this period (September 18 to September 24, 2026, hereinafter referred to as "this period"), polycarboxylate superplasticizer monomer prices declined from highs, and on-site trading slowed. As of September 24, the mainstream market price for EPEG monomers in East China was 11,450 CNY/ton, a decrease of 200 CNY/ton from the previous week. The weekly average price for EPEG in the key East China market was 11,866.67 CNY/ton, down 691.67 CNY/ton week-on-week. Specifically:
East China Market: Most on-site units maintained normal production, with individual units adjusting loads slightly. Signs of easing Middle Eastern geopolitical tensions led to a drop in crude oil prices and a decline in ethylene glycol from high levels. Participants' bearish sentiment toward the future increased. Spot supply of EO remained tight, keeping prices firm. Although cost-side support existed, factors such as strong resistance to high prices among buyers and insufficient subsequent orders hindered transactions of high-priced goods, causing monomer prices to fall. New orders were mainly small-volume rigid demand transactions, resulting in a quiet trading atmosphere.
Northeast Market: Enterprise units generally operated smoothly. Current inventory levels remained negative, implying no significant supply pressure. The availability of low-priced goods increased, raising holders' willingness to sell. Influenced by the "buy when rising, don't buy when falling" mentality, downstream participants entered the market cautiously, with buyers mostly waiting and watching.
South China Market: Spot resources were limited. Some enterprises still sold spot resources at high prices, often requiring discounts to close deals. Downstream willingness to purchase at high prices was low, strictly adhering to rigid demand needs. Risk-aversion sentiment was strong, and the supply-demand structure was weak.
Market Influencing Factors (Data)
Supply Data: During this period, the capacity utilization rate of the domestic polycarboxylate superplasticizer monomer industry was 26.72%, down 0.29 percentage points from the previous week. Weekly production was 29,800 tons, a decrease of 1.00% week-on-week.
Inventory Data: As of Thursday, the sellable inventory rate at domestic polycarboxylate superplasticizer monomer factories was -33.23%, an increase of 0.63 percentage points from the previous week. Sellable inventory volume was -63,500 tons, an increase of 1,200 tons compared to the previous period.
Cost Data: During this period, the weekly average cost of HPEG in East China was 10,729 CNY/ton, an increase of 485 CNY/ton week-on-week. The weekly average cost of TPEG was 10,549 CNY/ton, an increase of 500 CNY/ton week-on-week.
Profit Data: During this period, the weekly average profit for HPEG in East China was 1,204.33 CNY/ton, an increase of 178.33 CNY/ton from the previous week. The weekly average profit for TPEG was 1,384.33 CNY/ton, an increase of 163.33 CNY/ton from the previous week.
Supply Forecast: Monomer enterprise unit loads may fluctuate within a narrow range, with overall operating rates expected to remain relatively stable.
Demand Forecast: With holidays approaching, downstream procurement enthusiasm is unlikely to improve significantly; rigid demand will be released.
Cost Forecast: EO price trends may remain stable in the short term, potentially supporting monomer costs.
Comprehensive Outlook: Next week, high prices for polycarboxylate superplasticizer monomers may soften further. Market fluctuations will depend more on changes in supply-demand dynamics.
Supply Side: Individual units may expect increased output, while other monomer enterprises may make minor load adjustments. Overall operating rates are expected to see limited changes. Currently, monomer enterprises are focused on delivering accumulated orders, with no immediate supply pressure. If the price decline persists, new order follow-through may slow down, and any supply recovery combined with weak demand will further drag down prices.
Demand Side: October remains a traditional peak consumption season. However, if monomer prices trend weakly, downstream participants may adopt a cautious wait-and-see approach. Subsequent terminal orders may be insufficient, making it difficult to stimulate bulk buying enthusiasm. Lack of transaction volume support may gradually reveal supply-demand contradictions.
Cost Side: The US-Iran situation remains unclear. Ethylene glycol supply still faces gaps, and prices may oscillate within a range. Spot supply of EO may not loosen significantly in the near term. Downstream industries across sectors maintain rigid consumption. Ethylene producers have limited available supply, and general demand suggests prices may remain stagnant or consolidate. In the short term, fundamental support exists in the EO market, and prices are expected to remain stable.
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