Release of Essential Demand: Polycarboxylate Superplasticizer Monomer Prices Stabilize and Then Slightly Increase (Oct 16–22, 2026)

1. Key Market Focus This Week

1. Cost Side: Feedstock ethylene oxide (EO) prices remained stable during the week, providing cost support.

2. Supply Side: Some units within monomer plants underwent minor adjustments; supply availability remained relatively steady.

3. Demand Side: Downstream buyers maintained rigid-demand spot purchases; cautious sentiment persisted.

2. Weekly Market Analysis

Table 1: Weekly Closing Price Comparison of China's Polycarboxylate Superplasticizer Monomer Market

Unit: CNY/ton

Data Source: Chempricehub Information

During this period (October 16–22, 2026, hereinafter referred to as "this week"), polycarboxylate superplasticizer monomer prices showed slight increases after a period of stagnation, with market transactions driven primarily by rigid demand. As of October 22, the mainstream price for EPEG in the East China market was 10,200 CNY/ton, an increase of 100 CNY/ton from the previous week. The weekly average price for EPEG in the key East China market was 10,120 CNY/ton, a decrease of 105 CNY/ton week-on-week. Specifically:

1. East China Market: Units operated steadily, with little change in supply availability. Manufacturers focused on consistent deliveries, keeping spot supply pressure manageable. Sellers were reluctant to release low-priced inventory, and some enterprises pushed prices up. Previously under maintenance EO units had not yet resumed operations, resulting in limited supply pressure. EO prices remained stable, providing bottom-level cost support. Downstream demand was lukewarm, with buyers adopting a cautious stance and observing the market. Transactions were mainly based on rigid demand volumes.

2. Northeast China Market: Enterprise units maintained normal production, mostly operating on a produce-and-sell basis. Low-priced inventory decreased, and order acceptance for previous backlog improved slightly for some companies. Downstream demand was largely released as rigid needs, but concentrated purchasing power remained weak. With weather gradually turning colder, downstream procurement became more cautious.

3. South China Market: Due to maintenance at individual units, market supply contracted slightly. Given that feedstock EO prices remained firm at high levels, monomer producers faced insufficient profit margins and pushed prices up modestly. Downstream buyers continued to follow rigid-demand spot purchases despite high prices, maintaining a wait-and-see atmosphere.

4. Market Influencing Factors (Data)

1. Supply Data: During this period, the capacity utilization rate of the domestic polycarboxylate superplasticizer monomer industry was 30.28%, down 0.67% from the previous week. Weekly output was 33,800 tons, a decrease of 2.03% week-on-week.

2. Inventory Data: As of Thursday, the sellable inventory rate at domestic monomer factories was -25.54%, decreasing by 6.07 percentage points from the previous week. Sellable inventory volume stood at -48,800 tons, a reduction of 11,600 tons compared to the previous period.

3. Cost Data: During this period, the weekly average cost for HPEG in East China was 10,684 CNY/ton, adjusted downward by 75 CNY/ton week-on-week. The weekly average cost for TPEG was 10,549 CNY/ton, remaining flat week-on-week.

4. Profit Data: During this period, the weekly average profit for HPEG in East China was -464 CNY/ton, a decline of 50 CNY/ton from the previous week. The weekly average profit for TPEG was -329 CNY/ton, a decline of 105 CNY/ton from the previous week.

4. Next Week Market Forecast

1. Supply Forecast: No new maintenance plans are currently reported for monomer units; supply fluctuations may remain narrow.

2. Demand Forecast: Downstream buyers are likely to maintain rigid-demand purchasing status, with cautious sentiment persisting.

3. Cost Forecast: EO price trends are expected to remain stable in the short term, providing solid support for monomer costs.

Overall Outlook: In the short term, polycarboxylate superplasticizer monomer prices may remain strong and stable, with market volatility depending more on changes in supply-demand dynamics.

1. Supply Side: Previously under-maintenance units have not yet resumed operations, while other enterprise units maintain normal loads. Overall operating rates are expected to remain relatively stable. Some monomer enterprises still have undelivered orders and are cautiously managing inventory levels. Therefore, the supply side is unlikely to drag down the market significantly in the short term.

2. Demand Side: Downstream users exhibit heavy wait-and-see sentiment, with moderate purchasing enthusiasm. Monomer holders retain reluctance to sell. As downstream factories consume accumulated inventories, there is some expectation for replenishment. However, bearish sentiment regarding future prospects remains strong, leading to sporadic replenishment based on actual needs rather than bulk stockpiling. Consequently, the demand side may not provide significant support to the market.

3. Cost Side: Geopolitical tensions in the Middle East remain elevated, with ongoing US-Iran stalemates and Houthi attacks on Saudi Arabia making it difficult for geopolitical risks to fully subside in the short term. Crude oil prices may trend upward, providing source-side support. In the EO market, previously under-maintenance units have not yet resumed, and some units face potential maintenance expectations, possibly reducing intra-market supply. Most October spot ethylene has been pre-sold, and demand-side rigid buying continues to support prices, which may remain firm. Fundamentals provide support, so EO market prices are expected to remain stable in the short term.

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

During this period (September 18–24, 2026, hereinafter referred to as "this week"), polycarboxylate superplasticizer monomer prices declined from high levels, and intra-market trading cooled. As of September 24, the mainstream price for EPEG in the East China market was 11,450 CNY/ton, a decrease of 200 CNY/ton from the previous week. The weekly average price for EPEG in the key East China market was 11,866.67 CNY/ton, a drop of 691.67 CNY/ton week-on-week. Specifically:

1. East China Market: Most units maintained normal production, with individual units undergoing minor load adjustments. Signs of easing in Middle Eastern geopolitical conflicts led to declining crude oil prices and falling ethylene glycol prices from highs. Market participants increased bearish sentiment toward future prospects. Although spot supply in the EO market remained tight and prices firm—providing cost support—resistance to high prices among buyers and insufficient subsequent orders hindered transactions of high-priced goods. Consequently, monomer prices fell, and new orders were primarily rigid-demand spot purchases, resulting in a quiet trading atmosphere.

2. Northeast China Market: Enterprise units operated steadily, with current conditions still characterized by negative inventory. There was no significant pressure on the supply side. Low-priced inventory increased, boosting holders' willingness to sell. Influenced by the "buy on rise, avoid on fall" mentality, downstream buyers entered the market cautiously, mostly observing.

3. South China Market: Spot resources were scarce, with some enterprises still selling spot goods at high prices, often involving discounts to close deals. Downstream buyers had low willingness to purchase at high prices, strictly adhering to rigid demand. Risk-aversion sentiment was strong, reflecting a weak supply-demand structure in the market.

4. Market Influencing Factors (Data)

1. Supply Data: During this period, the capacity utilization rate of the domestic polycarboxylate superplasticizer monomer industry was 26.72%, down 0.29% from the previous week. Weekly output was 29,800 tons, a decrease of 1.00% week-on-week.

2. Inventory Data: As of Thursday, the sellable inventory rate at domestic monomer factories was -33.23%, increasing by 0.63 percentage points from the previous week. Sellable inventory volume stood at -63,500 tons, an increase of 1,200 tons compared to the previous period.

3. Cost Data: During this period, the weekly average cost for HPEG in East China was 10,729 CNY/ton, adjusted upward by 485 CNY/ton week-on-week. The weekly average cost for TPEG was 10,549 CNY/ton, adjusted upward by 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 increase of 178.33 CNY/ton from the previous week. The weekly average profit for TPEG was 1,384.33 CNY/ton, an increase of 163.33 CNY/ton from the previous week.

4. Next Week Market Forecast

1. Supply Forecast: Monomer enterprise unit loads may fluctuate narrowly, with overall operating rates likely to remain relatively stable.

2. Demand Forecast: Approaching holidays, downstream purchasing enthusiasm is unlikely to see significant improvement, with demand released primarily through rigid needs.

3. Cost Forecast: EO price trends are expected to remain stable in the short term, potentially supporting monomer costs.

Overall Outlook: Next week, high prices for polycarboxylate superplasticizer monomers may loosen further, with market volatility depending more on changes in supply-demand dynamics.

1. Supply Side: Individual units may anticipate increased output, while loads at other monomer enterprises may undergo minor adjustments. Overall operating rate changes are expected to be limited. Currently, monomer enterprises are focused on delivering accumulated previous orders, with no immediate supply pressure. If the downtrend persists, new order follow-up will slow, and rising supply combined with weak demand will further drag down prices.

2. Demand Side: October remains a traditional peak consumption season. However, if monomer prices trend weakly, downstream buyers may adopt a cautious wait-and-see approach. Insufficient terminal orders later on will make it difficult to boost bulk buying enthusiasm. Without transaction volume support, supply-demand contradictions may gradually emerge.

3. Cost Side: US-Iran tensions remain unclear, with gaps still present in ethylene glycol supply, suggesting prices may oscillate within a range. Spot supply in the EO market is unlikely to ease significantly in the near term. Downstream industries across sectors continue rigid consumption. Ethylene producers have limited unsold inventory, with general demand, leading to stagnant price consolidation. Short-term fundamentals for the EO market are expected to provide support, keeping prices stable.