I. Key Focus Points
① Oct 28: Market concerns over potential escalation of US-Iran tensions and continued Houthi attacks on Saudi energy infrastructure drove international crude oil prices higher. NYMEX WTI futures (December contract) rose by $2.88/bbl to $102.78/bbl, up +2.88% from the previous session; ICE Brent futures (December contract) increased by $1.44/bbl to $115.32/bbl, up +1.26%. China INE crude oil futures (contract 2612) fell by 9.2 yuan to 722.4 yuan/barrel during the day session but rebounded by 15.1 yuan to 737.5 yuan/barrel in the night session.
② Cost Support Remains Adequate: Raw material propylene prices rebounded, and liquid chlorine maintained elevated levels, sustaining cost support. Crude oil volatility continues to influence market sentiment.
③ Increased Downstream Inquiries: Downstream demand sectors are observing market performance. Some participants plan to increase procurement volumes today, while others remain wait-and-see, resulting in divergent strategies.
Core Logic: Cost support has strengthened again, downstream sentiment is mixed, and inquiry activity has picked up. Short-term downside risk appears limited; attention should be paid to actual transaction feedback today.
II. Price Table
| Product | Market Name | 2026/10/27 | 2026/10/28 | Change Value | Change % | Unit |
|---|---|---|---|---|---|---|
| Propylene | Shandong | 10850 | 11050 | 200 | 1.84% | CNY/ton |
| Liquid Chlorine | Shandong | 450 | 700 | 250 | 55.56% | CNY/ton |
| Propylene Oxide | Shandong | 11650 | 11400 | -250 | -2.15% | CNY/ton |
| Soft Block Polyether | Shandong | 12200 | 12100 | -100 | -0.82% | CNY/ton |
| Propylene Glycol | Shandong | 9350 | 9150 | -200 | -2.14% | CNY/ton |
| Dimethyl Carbonate | Shandong | 5100 | 5100 | 0 | 0% | CNY/ton |
| Propylene Glycol Methyl Ether | East China | 11800 | 11800 | 0 | 0% | CNY/ton |
III. Market Outlook
Yesterday, the domestic propylene oxide market trended lower amid consolidation. Supply-side plant operations remained stable. Morning shipment activities were relatively sluggish as negotiations continued. In the afternoon, market sentiment improved slightly following a significant rebound in the price of the key raw material, propylene. Inquiry activity increased moderately, though downstream demand sentiment remained mixed. Currently, with cost support in place, short-term downside risk appears mitigated. However, any potential rebound is constrained by downstream feedback. All parties are currently consolidating positions; focus remains on actual transactions today.
IV. Data Calendar
| Data Indicator | Release Date | Previous Period Data | Current Period Trend Forecast |
|---|---|---|---|
| Weekly Capacity Utilization Rate for Propylene Oxide | Thursday 17:00 PM | 70.26% | ↘ |
| Weekly Capacity Utilization Rate for Polyether Polyols | Thursday 17:00 PM | 49.20% | ↗ |
| Weekly Capacity Utilization Rate for Propylene Glycol | Thursday 17:00 PM | 59.33% | → |
| Note 1: ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3% | |||
| Note 2: ↗↘ indicates narrow-range fluctuation, highlighting data dimensions with changes within 0-3% |
Comments
0