Market Continues to Decline (Sep 18, 2026)

1. Today's Summary

① Shandong Depu's new unit is operating at full capacity, while Shandong Lihuayi is gradually resuming production.

② Today, market prices in Shandong declined. Shandong offers were quoted at 5,950 RMB/ton, East China offers at 5,850 RMB/ton, and South China offers at 6,000 RMB/ton.

2. Spot Market Overview

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

Taking the Shandong region as the benchmark, DMC closed today at 5,950 RMB/ton, down 200 RMB/ton from the previous business day. The domestic DMC market continued to face downward pressure, with trading activity further weakening. Downstream end-users showed weak purchasing intent, mostly maintaining small orders based on immediate needs, resulting in a strong wait-and-see atmosphere and limited actual transactions. Although producers currently face no inventory pressure, market participants hold bearish expectations for the future. Consequently, sales enthusiasm has increased, with offers continuing to be lowered to stimulate shipments.

3. Price Forecast

Looking ahead, the market may remain largely stable with minor adjustments. Short-term trends continue to be supported by tight supply and pre-holiday restocking.

4. Related Product Updates

Propylene Oxide (PO): Today, the domestic PO market weakened and prices softened slightly. Supply-side units underwent operational adjustments, with some reducing loads. Qixiang maintained normal external sales. In general, active plants saw softer shipping volumes. Prices in multiple regions shifted lower through negotiation; quotes in East China were also negotiable. However, downstream customers primarily relied on contract volumes, leading to few spot transactions. On the feedstock side, propylene prices retreated. Downstream buyers adopted a cautious, wait-and-see approach, preferring to hold off on purchases.

Polycarbonate (PC): Today, the domestic PC market experienced weak oscillations and adjustments. As of the afternoon close, negotiated ranges for domestic-grade PC in East China stood at 13,000–15,250 RMB/ton, with the center of gravity dropping by 50–100 RMB/ton compared to yesterday. Approaching the weekend, domestic PC manufacturers issued no official price updates, though rumors suggested volume-based discounts from certain plants. In the spot market, both East and South China continued their weak trends. Despite ongoing support from supply and cost factors, cost pass-through remained obstructed. Market sentiment was pressured by a wait-and-see attitude, with holders increasingly willing to offer concessions to move inventory. Downstream demand followed rigid requirements slowly, pre-holiday stocking was limited, and trading was dominated by small orders.

5. Data Calendar

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