The market is stabilizing and consolidating, with all parties adopting a wait-and-see approach amid sideways trading.

1. Daily Summary

① Plant shutdowns at Zhenhai Phase 2 and CNOOC Fine Chemicals have reduced on-site supply, though trading sentiment remains moderate.
② Today’s domestic propylene oxide (PO) capacity utilization rate stands at 66.89%.

2. Spot Market Overview

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

Data Source: Chempricehub Information

Based on the Shandong region, today’s PO price closed at 11,050 RMB/ton, stabilizing from previous levels, which aligns with morning expectations.

Today, the domestic PO market remained largely flat. On the supply side, minor fluctuations in plant operations led to a slight reduction in volume. Since yesterday afternoon, shipment performance has improved, maintaining a certain level of trading activity today. Low-priced offers are tightening upward as factories alleviate pressure from earlier periods. Downstream players are observing current price risks, which appear limited, and are gradually following up on purchases; new orders have seen some increase. However, the raw material propylene saw a significant decline. While this eases cost pressure, it slightly dampens market sentiment.

3. Production Dynamics

The PO capacity utilization rate is 66.89%. Currently, plants such as Zhenhai Phase 2 and CNOOC Fine Chemicals are shut down, leading to a moderate decrease in cost support.

4. Price Forecast

Looking ahead, the market is expected to remain consolidated and flat. Supply-side pressure has eased, suggesting stability will prevail for now. However, there are no obvious positive drivers supporting the market. Attention should be paid to the sustained performance of downstream new orders or whether suppliers will reduce output to provide support.

5. Related Products

Propylene Market: Today, propylene prices in Shandong continued their downward trend, with mainstream closing references at 10,400–10,500 RMB/ton (average 10,450 RMB/ton), a decrease of 650 RMB/ton from the previous working day. International crude oil prices continue to fall, resulting in strong bearish sentiment among traders. Enterprises face high shipment pressure, widening discounts in quotes, with some goods undergoing secondary price adjustments. Downstream buying remains cautious, dragging actual transaction prices lower.

Liquid Chlorine Market: Today in Shandong, some downstream users reduced load factors due to profit losses, causing a significant drop in demand. Upstream enterprises faced weak shipments, inventory increased, and some companies lowered prices. Current liquid chlorine prices are: Lubei region 300–450 RMB/ton; Lunan and Southwest Shandong regions 400–450 RMB/ton; Jiaodong Peninsula region 400–450 RMB/ton.

Flexible Polyether Market: Price updates show Shandong references at 11,400–11,600 RMB/ton (cash basis). In East China, negotiations are around 11,500–11,800 RMB/ton (delivered cash). In South China, negotiations are around 11,700–12,100 RMB/ton (delivered cash); specific terms vary by negotiation. In the afternoon session, spot market trading atmosphere recovered slightly. Downstream inquiries and procurement activities emerged, with suppliers concentrating on offering discounts to secure new orders. The overall trading mood improved somewhat, though actual transactions remained average, and traders maintained a wait-and-see attitude.

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-range fluctuation, highlighting data dimensions with changes within 0–3%.