1. Key Market Focus This Week

1. Cost Side: Ethylene oxide (EO), a key raw material, saw its high prices soften during the week, weakening cost support.
2. Supply Side: Some units at monomer plants reduced operating loads, leading to a slight contraction in supply availability.
3. Demand Side: Downstream players lack confidence in future market trends, resulting in sporadic restocking only when prices dropped.

2. Weekly Market Analysis

Data Source: Chempricehub Information

During this reporting period (November 6–12, 2026), polycarboxylate superplasticizer (PCE) monomer prices stabilized after an initial decline, with demand driven primarily by essential needs. As of November 12, the mainstream price for EPEG in the East China market was 10,050 CNY/ton, down 450 CNY/ton from the previous week. The weekly average price for EPEG in the key East China market was 10,180 CNY/ton, a week-on-week decrease of 280 CNY/ton.

Regional Breakdown:

1. East China Market: Operating loads at some local units decreased again, narrowing supply availability. With EO prices retreating from highs, cost support weakened, prompting monomer producers to slightly lower prices. However, manufacturers still hold unfulfilled backlog orders and are reluctant to offer significant discounts. Downstream buyers remain bearish on the outlook, showing low purchasing enthusiasm; they are mainly buying based on immediate needs or waiting for lower prices, resulting in slow demand release.
2. Northeast Market: Units that had short shutdowns previously have resumed operations, while others maintain stable production. Monomer enterprises currently have no inventory buildup, keeping supply pressure manageable. Although low-priced cargo is scarce, temperatures in the north are dropping below freezing, leading to insufficient new order follow-up. Overall demand remains weak, dominated by small-volume spot purchases for immediate needs.
3. South China Market: Most market units are operating normally. Downstream buyers are making small purchases based on essential needs, maintaining a cautious wait-and-see attitude. Trading sentiment remains calm, with little change in plant operating rates and relatively stable industry-wide supply.

3. Market Influencing Factors (Data)

1. Supply Data: During this period, the capacity utilization rate of the domestic PCE monomer industry was 27.27%, a week-on-week decrease of 1.51%. Weekly output was 30,400 tons, down 5.30% week-on-week.
2. Inventory Data: As of Thursday, the sellable inventory rate at domestic PCE monomer factories was -22.81%, up 3.67 percentage points from last week. Sellable inventory volume was -43,600 tons, an increase of 7,000 tons compared to the previous cycle.
3. Cost Data: During this period, the weekly average cost for HPEG in East China was 10,398.4 CNY/ton, down 393.6 CNY/ton week-on-week. The weekly average cost for TPEG was 10,083.4 CNY/ton, down 465.6 CNY/ton week-on-week.
4. Profit Data: During this period, the weekly average profit for HPEG in East China was -118.4 CNY/ton, an improvement of 113.6 CNY/ton from last week. The weekly average profit for TPEG was 196.6 CNY/ton, an improvement of 185.6 CNY/ton from last week.

4. Next Week Market Forecast

1. Supply Forecast: Unit adjustments within monomer plants may be minor, suggesting relatively stable supply availability.
2. Demand Forecast: Downstream hesitation persists; buyers are likely to enter the market only for sporadic restocking at lower prices.
3. Cost Forecast: EO prices may remain temporarily stable in the short term, offering limited support to monomer costs.

Comprehensive Outlook: In the short term, PCE monomer markets are expected to trade weakly, with fluctuations closely tied to changes in supply-demand dynamics.

1. Supply Side: There are no new scheduled maintenance shutdowns for local units, and there is no clear timeline for the restart of units that have reduced loads. Other units are expected to operate relatively stably, with overall operating rates fluctuating narrowly. As some monomer enterprises fulfill their backlog orders, spot supply in the market may increase slightly, gradually revealing supply-side pressure.
2. Demand Side: Downstream sectors are entering a seasonal off-peak period, with new order inflows likely insufficient, keeping overall demand weak. However, downstream raw material inventories are generally low, potentially triggering restocking when prices drop. Purchasing will remain focused on essential needs, providing limited support to the market.
3. Cost Side: Mediators like Qatar continue to push for US-Iran negotiations, and the US has tempered expectations of renewed strikes on Iran, easing supply risk concerns and reducing geopolitical support for oil prices. The ethylene market has seen sluggish trading, with persistent negative factors from the demand side putting downward pressure on prices. For raw material EO, there are expectations for the resumption of units undergoing maintenance, which may increase local supply. Fundamentals lack positive guidance, so EO prices are expected to remain stable with a wait-and-see approach in the short term.

For more detailed weekly market analysis, please refer to the Chempricehub Polycarboxylate Superplasticizer Monomer Weekly Report.

(Note: The following section appears to contain data from a different reporting period, September 18–24, 2026, included in the source text.)

During this period (September 18–24, 2026), PCE monomer prices declined from highs as market activity cooled. As of September 24, the mainstream EPEG price in East China was 11,450 CNY/ton, down 200 CNY/ton from the previous week. The weekly average EPEG price in the key East China market was 11,866.67 CNY/ton, a week-on-week decrease of 691.67 CNY/ton.

Regional Breakdown:

1. East China Market: Most units maintained normal production, with individual units adjusting loads slightly. Signs of easing Middle Eastern geopolitical conflicts led to lower crude oil prices and a retreat in MEG prices from highs. Market participants' bearish sentiment increased. While EO spot supply remained tight and prices firm—providing some cost support—high resistance to elevated prices and insufficient subsequent orders hindered transactions. Consequently, monomer prices fell, with market activity dominated by small spot purchases for immediate needs.
2. Northeast Market: Enterprise units operated stably. Inventory levels remained largely negative, meaning no significant supply pressure. Local low-priced cargo increased, raising holders' willingness to sell. However, influenced by the "buy rising, not falling" mentality, downstream buyers entered the market cautiously, mostly observing.
3. South China Market: Spot resources were limited, with some enterprises selling remaining stock at higher prices, though often involving discounts. Downstream willingness to purchase at high prices was low, sticking strictly to rigid demand amid strong risk-aversion. The supply-demand structure remained weak.

3. Market Influencing Factors (Data)

1. Supply Data: During this period, the capacity utilization rate of the domestic PCE monomer industry was 26.72%, a week-on-week decrease of 0.29%. Weekly output was 29,800 tons, down 1.00% week-on-week.
2. Inventory Data: As of Thursday, the sellable inventory rate at domestic PCE monomer factories was -33.23%, up 0.63 percentage points from last week. Sellable inventory volume was -63,500 tons, an increase of 1,200 tons compared to the previous cycle.
3. Cost Data: During this period, the weekly average cost for HPEG in East China was 10,729 CNY/ton, up 485 CNY/ton week-on-week. The weekly average cost for TPEG was 10,549 CNY/ton, up 500 CNY/ton week-on-week.
4. Profit Data: During this period, the weekly average profit for HPEG in East China was 1,204.33 CNY/ton, an improvement of 178.33 CNY/ton from last week. The weekly average profit for TPEG was 1,384.33 CNY/ton, an improvement of 163.33 CNY/ton from last week.

4. Next Week Market Forecast

1. Supply Forecast: Monomer enterprise unit loads may fluctuate slightly, with overall operating rates expected to remain relatively stable.
2. Demand Forecast: Approaching holidays, downstream purchasing enthusiasm is unlikely to improve significantly; demand will be driven by essential needs.
3. Cost Forecast: EO prices may remain stable in the short term, providing some support to monomer costs.

Comprehensive Outlook: Next week, high PCE monomer prices may still show signs of softening, with market fluctuations dependent on supply-demand changes.

1. Supply Side: Some units may see increased output, while others will make minor load adjustments. Overall capacity utilization is expected to change little. Currently, monomer enterprises are focused on fulfilling backlog orders, with no immediate supply pressure. If the price decline persists, new order inflows may slow, and the combination of recovering supply and weak demand could further drag down prices.
2. Demand Side: October remains a traditional peak consumption season. However, if monomer prices trade weakly, downstream buyers may adopt a cautious wait-and-see approach. Insufficient terminal orders will hinder bulk purchasing enthusiasm, lacking transaction volume support, which may gradually expose supply-demand contradictions.
3. Cost Side: The US-Iran situation remains unclear, and MEG supply still faces gaps, likely causing price range-bound fluctuations. EO spot supply is not expected to loosen significantly. Downstream industries across various sectors maintain essential consumption, while ethylene producers have limited unsold inventory and moderate demand, leading to stalemate-like price consolidation. Short-term fundamentals for the EO market are supported, suggesting stable prices.