Prices surged following the market probe but subsequently softened, with all parties adopting a wait-and-see approach ahead of the holiday.

1. Daily Summary

① On-site market: Units at Zhenhai Phase 2, CNOOC Fine Chemicals, and Guoen are shut down. Trading sentiment is stable with slight divergence.
② Today’s domestic propylene oxide (PO) capacity utilization rate stands at 73.76%.

2. Spot Market Overview

Table 1: Domestic Propylene Oxide Price Summary (Unit: RMB/ton)

Data Source: Chempricehub Information

Based on the Shandong region as a benchmark, today’s PO price closed at 10,800 RMB/ton, showing an upward adjustment compared to the previous period, consistent with morning expectations.

Today, the domestic PO market trended slightly higher. Supply-side units operated stably. After continuing to raise offers, shipment activities showed regional divergence. Northern regions maintained normal, steady trading, while southern regions focused on contract follow-ups, resulting in relatively quiet spot transactions. Cost-side fluctuations were narrow with general support. Downstream buyers engaged in moderate purchasing, while various parties remained in a wait-and-see mode.

3. Production Dynamics

The PO capacity utilization rate is 73.76%. Currently, units at Zhenhai Phase 2, CNOOC Fine Chemicals, and Guoen are shut down, providing stable cost support.

4. Price Forecast

Looking ahead, as the holiday approaches, downstream demand may gradually fade after moderate procurement. The market is expected to stabilize and consolidate. Attention should be paid to supplier inventory levels during the holiday.

5. Related Products Status

Propylene Market: Today, the transaction center of gravity in the Shandong propylene market shifted downward. The mainstream closing reference was 9,700–9,780 RMB/ton, with an average price of 9,740 RMB/ton, a decrease of 45 RMB/ton from the previous business day. Market news provided limited guidance; most enterprises focused on maintaining prices for shipments, with some minor price increases. Downstream users entered the market based on rigid demand, but willingness to buy at high prices was limited, dragging the actual transaction center downward.

Liquid Chlorine Market: Due to reduced methane production by downstream users, demand decreased, leading to increased liquid chlorine supply available for sale. Enterprises slowed shipments, inventories remained high, and prices were adjusted downward. Currently, liquid chlorine prices in the Lubei region are 1 RMB/ton; in Lunan and Luxinan regions, prices range from -150 to 150 RMB/ton; in the Jiaodong Peninsula region, prices range from 1 to 50 RMB/ton. (Unit: RMB/ton)

Flexible Polyether Polyol Market: Price dynamics for flexible polyether polyols: Shandong reference is 11,200–11,400 RMB/ton (cash), East China negotiation is 11,300–11,600 RMB/ton (cash delivered), and South China negotiation is 11,500–11,700 RMB/ton (cash delivered); specific negotiations apply. The morning spot market was quiet and consolidating. As the pre-holiday period approaches, inquiry sentiment within the market continued to weaken. Suppliers offered fewer discounts on new orders. The market center consolidated within a range, and actual transaction activity was average.

6. Data Calendar

Table 2: Domestic Propylene Oxide Data Overview (Unit: 10,000 tons, RMB/ton)

Data Source: Chempricehub Information
Notes:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow fluctuation, highlighting data dimensions with changes between 0-3%.