According to the bulk ranking data from SunSirs, the domestic PC market was consolidating and operating in early January, with limited changes in spot prices for most brands. As of January 7th, the mixed benchmark price of SunSirs PC is around 16,500 RMB/ton, with a price increase or decrease of -0.10% compared to January 1st.

In terms of supply: In early January, the load changes of domestic PC aggregation enterprises were very limited, and the industry average operating rate was slightly adjusted from 78% at the end of December to 77.5%. The average weekly production remains at a super high level of over 60,000 tons, and the on-site supply is still abundant, with no change in the supply-demand mismatch pattern. The high inventory has led to cautious pricing by manufacturers, while the market supply side has provided average support for PC prices.

In terms of raw materials: From the above chart, it can be seen that after the significant recovery of bisphenol A in December, the bulls have gradually exhausted recently, and downstream demand is running steadily. The upward movement of bisphenol A prices is hindered, and after falling back, it runs sideways. The support for PC cost has weakened.

In terms of demand: The PC consumption pattern has been weak for a long time, and the overall trend continues to be weak at the end of last year. Previously, some export orders were placed in advance in the market, and currently the overall logic of weak rigid demand procurement continues, with industry players showing a wait-and-see attitude. As the end of the lunar calendar approaches, downstream factories are taking over goods to maintain production, and buyers are resistant to high priced goods. Therefore, purchasing and chasing price increases should be cautious. The slow circulation of goods in the market has limited changes, and the demand side has poor support for PC spot prices.

At the beginning of January, the PC market remained stable with small fluctuations. The upstream bisphenol A market is currently stagnant and consolidating, maintaining support for PC costs. The load of domestic PC aggregation plants has basically leveled off, and the supply level remains at a high level. The high level of inventory in the industry has limited changes, and there has been no substantial improvement in supply pressure. The downstream stocking pattern has not changed, making it difficult to drive market trends. SunSirs believes that the high raw material prices in the early stage have led to a high cost value of PC currently. However, due to the continued loose supply of goods in the market, the market may continue to consolidate weakly.

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