1. Key Market Focus This Week

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

2. Supply Side: Load rates for some units at monomer plants increased, leading to a trend of rising supply volumes.

3. Demand Side: Amidst a downward market sentiment, downstream buyers entered the market cautiously, with most purchasers remaining in wait-and-see mode.

2. Weekly Market Analysis

Table 1: Weekly Comparison of Closing Prices for Polycarboxylate Superplasticizer Monomers in China
Unit: RMB/ton

Data Source: Chempricehub

During this reporting period (October 9–15, 2026), prices for polycarboxylate superplasticizer monomers continued their downward trend, and market trading activity was sluggish. As of October 15, the mainstream price for EPEG in the East China market was 10,100 RMB/ton, a decrease of 400 RMB/ton from the previous week. The weekly average price for EPEG in the key East China market was 10,225 RMB/ton, down 325 RMB/ton week-on-week. Specifically:

1. East China Market: Plants maintained normal production levels. Units that had previously increased load rates are now producing steadily, resulting in an overall increase in supply volume. Although crude oil prices trended upward this week, the transmission effect along the industrial chain was limited. Supply pressure in the epoxy market remained controllable, keeping prices high and providing cost-side support. However, sustained declines in monomer prices put pressure on costs. Downstream buyers replenished stock on an as-needed basis and showed poor acceptance of high-priced goods, leading to a quiet trading atmosphere.

2. Northeast China Market: Enterprise units operated smoothly. Following the completion of prior order deliveries, slight inventory accumulation occurred. Low-priced goods flowed into the market, prompting holders to lower their selling prices to rock-bottom levels. Downstream buyers primarily engaged in rigid-demand spot purchases with weak willingness to replenish stock.

3. South China Market: Market supply was relatively ample. Monomer producers faced cost pressures and had limited room for further price concessions. A strong wait-and-see atmosphere prevailed, with downstream buyers stocking up cautiously and actual trades negotiated on a case-by-case basis.

3. Market Influencing Factors (Data)

1. Supply Data: During this period, the capacity utilization rate for the domestic polycarboxylate superplasticizer monomer industry was 30.01%, an increase of 1.37 percentage points week-on-week. Weekly output was 33,500 tons, up 5.02% week-on-week.

2. Inventory Data: As of Thursday, the sellable inventory ratio at domestic monomer factories was -19.47%, an increase of 8.21 percentage points from the previous week. Sellable inventory volume was -37,200 tons, an increase of 15,700 tons compared to the previous period.

3. Cost Data: During this period, the weekly average cost for HPEG in East China was 10,759 RMB/ton, up 30 RMB/ton week-on-week. The weekly average cost for TPEG was 10,549 RMB/ton, unchanged week-on-week.

4. Profit Data: During this period, the weekly average profit for HPEG in East China was -414 RMB/ton, a decrease of 335 RMB/ton week-on-week. The weekly average profit for TPEG was -349 RMB/ton, a decrease of 450 RMB/ton week-on-week.

4. Next Week Market Forecast

1. Supply Forecast: Some monomer units are scheduled for maintenance, which may lead to a slight reduction in supply.

2. Demand Forecast: Downstream buyers are likely to enter the market cautiously based on rigid demand, focusing on purchasing at low prices.

3. Cost Forecast: Ethylene oxide prices may remain stable in the short term, providing solid support for monomer costs.

Overall Outlook: In the short term, polycarboxylate superplasticizer monomer prices may see narrow fluctuations around a stable level, with market volatility largely dependent on changes in supply and demand dynamics.

1. Supply Side: Some units face maintenance expectations, while others will maintain relatively stable loads. Overall operating rates may shrink slightly. Some monomer producers are still focused on fulfilling prior orders, so spot supply may be slightly loose. The supply side is unlikely to provide significant support to the market in the short term.

2. Demand Side: Downstream superplasticizer manufacturers lack pricing power and have poor profitability, prioritizing the consumption of existing inventory. However, as stocks drop to low levels, there is some expectation for replenishment. Nevertheless, bearish sentiment persists regarding the future outlook, limiting enthusiasm for spot stocking. Buyers will likely enter the market cautiously to avoid further decline risks, focusing on rigid-demand replenishment. The demand side is currently unable to provide strong support to the market.

3. Cost Side: Escalating conflicts between Houthi rebels and Saudi Arabia have heightened supply risks, keeping crude oil prices high. Affected by the supply-demand structure of MEG, prices may fluctuate within a range in the short term. In the raw material EO market, units undergoing prior maintenance have not yet restarted, so spot supply pressure remains manageable, and trading is steady. In the ethylene market, as some units undergo maintenance and downstream buying improves, prices may trend stronger, supported by fundamentals. Therefore, EO market prices are expected to remain stable or in a wait-and-see mode in the short term.

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

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

During this period (September 18–24, 2026), prices for polycarboxylate superplasticizer monomers declined from high levels, and market trading turned quiet. As of September 24, the mainstream price for EPEG in the East China market was 11,450 RMB/ton, a decrease of 200 RMB/ton from the previous week. The weekly average price for EPEG in the key East China market was 11,866.67 RMB/ton, down 691.67 RMB/ton week-on-week. Specifically:

1. East China Market: Most plants maintained normal production, with some adjusting load rates within a narrow range. Signs of easing geopolitical tensions in the Middle East led to a decline in crude oil prices and a drop in MEG prices from highs. Market participants' bearish sentiment increased. Spot supply of EO remained tight, keeping prices firm. Although costs provided support, resistance to high prices and insufficient subsequent orders dragged on the market, making it difficult to trade high-priced goods. Monomer prices fell, with new orders mainly consisting of rigid-demand spot purchases, resulting in a quiet trading atmosphere.

2. Northeast China Market: Enterprise units mostly operated smoothly. Current inventory levels remained negative, so there was no significant supply pressure. The availability of low-priced goods increased, boosting sellers' willingness to offload inventory. Influenced by the "buying rises but not falls" mentality, downstream buyers entered the market cautiously, with most observing rather than purchasing.

3. South China Market: Spot resources were scarce. Some enterprises continued to sell spot resources at high prices, though transactions often involved concessions. Downstream buyers had low willingness to purchase at high prices, sticking strictly to rigid demand due to strong risk-aversion sentiments. The supply-demand structure was weak.

3. Market Influencing Factors (Data)

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

2. Inventory Data: As of Thursday, the sellable inventory ratio at domestic monomer factories was -33.23%, an increase of 0.63 percentage points from the previous week. Sellable inventory volume was -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 RMB/ton, up 485 RMB/ton week-on-week. The weekly average cost for TPEG was 10,549 RMB/ton, up 500 RMB/ton week-on-week.

4. Profit Data: During this period, the weekly average profit for HPEG in East China was 1,204.33 RMB/ton, an increase of 178.33 RMB/ton week-on-week. The weekly average profit for TPEG was 1,384.33 RMB/ton, an increase of 163.33 RMB/ton week-on-week.

4. Next Week Market Forecast

1. Supply Forecast: Monomer unit load rates may fluctuate within a narrow range, keeping overall operations relatively stable.

2. Demand Forecast: With holidays approaching, downstream buying enthusiasm is unlikely to improve significantly; only rigid demand will be released.

3. Cost Forecast: Ethylene oxide prices may remain stable in the short term, providing potential support for monomer costs.

Overall Outlook: Next week, high prices for polycarboxylate superplasticizer monomers may soften further, with market volatility largely dependent on changes in supply and demand dynamics.

1. Supply Side: Some units may increase output, while other enterprises may adjust loads within a narrow range. Overall operating rate changes are expected to be limited. Currently, monomer producers are focused on fulfilling accumulated prior orders, so there is no immediate supply pressure. If the downward price trend persists, new order follow-up may slow down, and the combination of rising supply and weak demand could further drag down prices.

2. Demand Side: October is traditionally a peak season for consumption. However, if monomer prices remain weak, downstream buyers may stay cautious and observe. Insufficient terminal orders ahead and a lack of volume support make it difficult to boost bulk purchasing enthusiasm. Supply-demand contradictions may gradually emerge.

3. Cost Side: US-Iran tensions remain unclear, leaving gaps in MEG supply, so prices may fluctuate within a range. Spot supply of the raw material EO is unlikely to loosen significantly, and downstream industries continue to consume based on rigid demand. Ethylene producers have limited available inventory, and demand is average, leading to stalemate-like price consolidation. Fundamentals for the EO market are supportive in the short term, and prices are expected to remain stable.