I. Key Focus Areas (Highlighting Cost Changes, Weekly Supply-Demand Outlook, and Hot Events)

1. Nov 4: The Democratic Party won the U.S. midterm elections. Market expectations suggest that the U.S.-Iran conflict will de-escalate, reducing concerns over supply risks and causing international oil prices to fall. NYMEX WTI crude oil futures (December contract) closed at $88.12/bbl, down $7.97/bbl (-8.29% WoW); ICE Brent crude oil futures (January contract) closed at $94.62/bbl, down $8.98/bbl (-8.67% WoW). China INE crude oil futures (December 2026 contract) fell by CNY 18.7 to CNY 676.2/bbl; the night session dropped by CNY 47.8 to CNY 628.4/bbl.
2. Propylene Oxide (PO): On the previous business day, the domestic PO market continued to see price negotiations trending downward. Jinling Chemical's unit returned to normal external sales, restoring supply on-site. Trading sentiment remained weak, with prices still facing downward pressure in negotiations. Some regions in East China adjusted prices accordingly, but transaction volumes were limited. The spot price of feedstock propylene slowed its decline, while liquid chlorine prices fell. Downstream demand remained cautious, waiting for lower prices to follow up on rigid demand. Overall sentiment remains one of cautious observation.

III. Market Outlook

Forecast: On the previous business day, the domestic DMC market continued its downward trend. Prices for feedstock Propylene Oxide (PO) kept falling, further weakening cost support and leading to generally poor trading sentiment. Some plants actively offered discounts to clear inventory and stimulate mid- and downstream purchasing, but the effect was limited, with the overall market still characterized by gradual declines. Chempricehub believes that in the short term, the domestic DMC market will mainly undergo consolidation. Attention should be paid to raw material prices and shipment conditions at various producers.