price trend
| Gamma-PGA (gamma polyglutamic acid) |
According to the bulk ranking data of Shengyi Society, the domestic PC market remained stable with small fluctuations in early June, and some spot prices of certain brands were lowered narrowly at low levels. As of June 10th, the mixed benchmark price of Business Society PC was around 14483.33 yuan/ton, with a price fluctuation of -0.87% compared to early June.
cause analysis
On the supply side: As we enter June, the load of domestic PC aggregation enterprises has significantly rebounded. The average operating level of the industry has rebounded by nearly 9% to over 82% compared to the end of last month, and the weekly average production has increased to over 65000 tons. In terms of PC inventory, it has been at a high level for a long time, and the supply is at a high level. The on-site supply is very abundant. Manufacturers and midstream inventory are high, and shipping pressure is increasing. The market supply side has not shown any improvement in supporting PC prices.
In terms of raw materials, it can be seen from the above chart that the price of bisphenol A plummeted in early June. Last month, the industry load increased and the on-site supply of goods increased. Although the remote upstream crude oil market has rebounded, both acetone and phenol have weakened in terms of direct raw materials, which has dragged down spot prices. In addition, with weak downstream demand, overall, bisphenol A’s support for PC costs continues to weaken due to the supply-demand imbalance and cost softening.
On the demand side: With the gradual warming of the domestic climate, the downstream factories of PC are experiencing a decrease in load, and stocking is mainly due to weak demand, gradually entering the traditional off-season for consumption, further dragging down the PC consumer end. Due to the long-term weak market momentum in the early stage of the industry, high social inventory, and abundant on-site supply, the supply-demand contradiction became more profound in early June. At present, terminal enterprises are cautious in purchasing new orders, and their trading performance continues to be dominated by contract delivery. Merchants tend to have a wait-and-see attitude, buyers are resistant to high priced goods, and the flow of goods in the market is slow. Overall, the demand side has weak support for PC spot prices.
Future forecast
The domestic PC market experienced consolidation in early June. The upstream bisphenol A market continues to decline, providing poor support for the PC cost side. The load of domestic PC aggregation plants has rebounded significantly, and the pattern of strong supply is even more severe. However, downstream demand is at a low season level, and industry players remain pessimistic about the future market. At the same time, the industry’s inventory is high, and the seller camp is willing to sell and sell at a discount. At present, there is no guidance for the market to stop falling, and it is expected that the PC market will continue to consolidate weakly in mid June. It is recommended to closely monitor the industry’s inventory digestion situation.
| http://www.lubonchem.com/ |