① Raw Materials: Ethylene oxide prices in East China fell to 9,100 RMB/ton, while domestic ethylene prices dropped to 10,150 RMB/ton.
② Demand: Downstream procurement enthusiasm remained low, with market participants adopting a wait-and-see approach.
Table 1: Price Summary of Domestic Polycarboxylate Superplasticizer (PCS) Monomers (Unit: RMB/ton)
| Region | Specification | 2026-11-09 | 2026-11-10 | Change Value | Change Rate |
|---|---|---|---|---|---|
| East China | EPEG | 10,100–10,400 | 9,800–10,300 | -300 / -100 | -2.97% / -0.96% |
| HPEG | 10,200–10,500 | 9,900–10,400 | -300 / -100 | -2.94% / -0.95% | |
| TPEG | 10,200–10,500 | 9,900–10,400 | -300 / -100 | -2.94% / -0.95% | |
| South China | EPEG | 10,200–10,500 | 10,100–10,300 | -100 / -200 | -0.98% / -1.90% |
| HPEG | 10,300–10,600 | 10,200–10,400 | -100 / -200 | -0.97% / -1.89% | |
| TPEG | 10,300–10,600 | 10,200–10,400 | -100 / -200 | -0.97% / -1.89% | |
| Northeast China | HPEG | 10,000–10,200 | 9,900–10,100 | -100 / -100 | -1.00% / -0.98% |
| EPEG | 10,000–10,200 | 9,900–10,100 | -100 / -100 | -1.00% / -0.98% | |
| TPEG | 10,100–10,300 | 10,000–10,200 | -100 / -100 | -0.99% / -0.97% |
Data Source: Chempricehub Information
Today, the price of domestic PCS monomers continued its downward trend. Ethylene oxide prices stabilized after falling, and spot supply within the market remained tight, with transactions driven primarily by rigid demand. Derivative prices for ethylene showed significant weakness today, leading to slightly pessimistic market sentiment. Producers offered narrow adjustments in their quotes, but downstream receptiveness was weak. Market trading activity was subdued, with few new orders concluded. Cost-side support was limited, resulting in quiet trading in the monomer market as downstream buyers engaged in cautious small-lot purchases. Consequently, it is projected that the mainstream EPEG price in East China will reach 10,000–10,200 RMB/ton on the next business day.
Today, the capacity utilization rate of the domestic PCS monomer industry stood at 28.78%, representing a month-on-month decline. The gross profit margin for HPEG PCS monomers was -132 RMB/ton.
On the next business day, domestic PCS monomer prices are likely to remain weak. Key raw material ethylene oxide is expected to stabilize temporarily. Units undergoing previous maintenance or short-term shutdowns have not yet resumed operations, keeping market supply in a state of tight equilibrium. Downstream buyers continue to purchase based on rigid demand. In the domestic ethylene market, available inventory has increased, coinciding with weak performance in derivative markets, which has reduced buying interest for raw materials. Prices are expected to face downward pressure, limiting cost-side support. Monomer producers are primarily focused on delivering accumulated orders and show limited willingness to offer significant discounts. With poor follow-through from downstream demand, most participants remain in a wait-and-see mode, with transactions negotiated based on volume. Overall, the mainstream EPEG price in East China is forecasted to range between 9,700 and 10,200 RMB/ton.
① Ethylene Oxide (Raw Material): Ethylene oxide prices are expected to remain stable. On the supply side, there have been no significant changes in operating units, maintaining overall steady market supply amidst limited spot resources. On the demand side, major downstream users are replenishing stocks based on rigid needs, though market sentiment remains cautious. On the cost side, increased available inventory in the domestic ethylene market, combined with weak derivative performance, has lowered buying interest for raw materials, suggesting potential downside risk for prices. Overall, fundamental fluctuations in ethylene oxide are limited, and prices are expected to remain stable in the short term; further attention should be paid to upstream and downstream developments.
Table 2: Domestic Polycarboxylate Superplasticizer (PCS) Monomer Data Overview (Unit: 10,000 tons)
| Metric | Release Time | Previous Period Data | Expected Trend This Period |
|---|---|---|---|
| Sellable Inventory Rate | Thursday 17:00 PM | -26.48% | ↗ |
| Weekly Output | Thursday 17:00 PM | 3.21 | ↘ |
| Capacity Utilization Rate | Thursday 17:00 PM | 28.78% | ↘ |
Data Source: Chempricehub Information
Notes:
1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates minor fluctuation, highlighting data dimensions with changes within 0–3%.
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