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[Industry Focus]：Slow destocking cycle, PC prices fall slightly in the short term

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According to

statistics, the total spot turnover in the Dongguan market in October 2022 was 540400 tons, a decrease of 126700 tons from the previous month. PC compared with September, spot trading volume fell sharply. After the National Day, the reported center of gravity of the raw material BPA remained stable and cost support was good. Crude oil continued to decline in the middle and late stages, raw material bisphenol A fell frequently, cost support was weak, the market was bearish, and PC prices in the were volatile and weak.

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ABS market prices rose and then fell. On the first day after the holiday, petrochemical plants rose their ex-factory prices across the board, and the market followed suit. However, the market is resistant to the inventory of high-priced goods. After the price rise, it quickly retraced, from the middle of the ABS market prices fell across the board, market demand is weak, petrochemical plants continue to reduce plant quotes, styrene prices fell sharply affect the industry mentality, prices fell.

PP market price rises after fall, then fluctuates. During the National Day, crude oil rose sharply and returned to the market after the holiday. PP spot quotes then rose, the market speculation atmosphere is strong; however, the downstream resistance to high prices gradually emerged, the focus of the transaction decreased. Subsequently, the futures market continued to fall, suppressing the market mentality. The spot market has a strong wait-and-see atmosphere, and businesses are under great pressure to ship. At the end of the month, polypropylene still lacks positive factors, and the focus of market transactions continues to decline.

domestic PC prices narrow weak volatility. PC factory no latest price adjustment dynamic, the overall atmosphere is quiet. In November, the latest external plate of imported materials was around US $2000/ton; from the spot market, the East China market is dominated by stalemate, with less cost and supply support in the internal and external markets. In the case of operators watching high prices, some quotations in the South China market continued to fall, operators watching bearish, with strong willingness to ship, slow downstream buying follow-up, and rare intraday firm trading volume. Downstream end consumption just needs limited, PC industry inventory cycle is slow, short-term market prices are expected to fall slightly.

Source: of the PC polycarbonate industry

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