Weekly Outlook for the Domestic Propylene Oxide Market (September 20, 2026)

I. Key Focus Points

① Sep 18: Expectations for the repair of Saudi oil pipelines improved, combined with signs of easing tensions in the Middle East, leading to a drop in international crude oil prices. NYMEX October crude oil futures fell by $1.61/barrel to $100.3, a -1.58% change from the previous session; ICE November Brent crude oil futures dropped by $0.95/barrel to $103.87, a -0.91% change. China INE November 2026 crude oil futures fell by 50.6 yuan to 754.4 yuan/barrel, and dropped another 19.6 yuan to 734.8 yuan/barrel during the night session.

② Stable cost support: Raw material prices for propylene and liquid chlorine rebounded slightly after falling, potentially stabilizing. Cost support remains steady, while crude oil volatility influences market sentiment.

③ Cautious downstream operations: Downstream demand sectors are adopting a wait-and-see approach due to the downward market trend, with many gradually reducing their purchasing volumes. Sentiment varies among participants.

Core Logic: The market is pulling back from recent highs. Currently, downstream buyers are following cautiously, and all parties are observing and consolidating.

II. Price List

III. Data List

PO Industry Supply & Demand Data Table (Unit: 10,000 tons, RMB/ton)

IV. Market Outlook

Yesterday, the domestic Propylene Oxide (PO) market consolidated and declined. On the supply side, plant operations remained largely stable. Shipment rates from operating plants were generally weak, with some transactions negotiated at lower prices, leading to moderate inventory accumulation. Raw material prices fluctuated within a narrow range, having limited impact for now. Downstream demand sectors are watching the short-term weakness in the market, mostly proceeding with cautious reductions in procurement volumes, waiting for a potential phase low before the holiday. The market is consolidating downwards; further attention is required.

V. Data Calendar