PC market encounters "Waterloo"

The polycarbonate (PC) market of "Golden Nine Silver Ten" this year has encountered "Waterloo"

Looking at the market outlook, the contradiction between supply and demand is difficult to alleviate, and PC prices are expected to still have room for decline

The contradiction between oversupply and demand is prominent

Jin Lianchuang analyst Ge Linlin introduced that the domestic PC market offer fell sharply in September

Ge Linlin believes that the PC market’s performance in the “Golden Nine and Silver Ten” is so sluggish that the root cause is an oversupply

In September, the overall PC operating rate was 43.

Xiang Feifei, an analyst at Longzhong Consulting, said that due to power curtailment and the entry into the maintenance cycle, the number of PC parking and production reduction devices continues to increase, and the number of companies involved has increased to nine.

"Under the background of continuous capacity expansion in recent years, the contradiction between PC supply and demand has always been the key to restricting the market

　　Cost collapse support weakening

　　Bisphenol A, which is a raw material for PC, also exhibits the characteristics of not busy peak season in the "Golden Nine and Silver Ten", and it is difficult to bring cost support to PC

　　In September, under the influence of the energy consumption "dual control" policy, the downstream epoxy resin operating load decreased significantly.

　　It is understood that since the third quarter, the bisphenol A industry has maintained a high-profit operation

　　Industry insiders believe that in the fourth quarter, Hainan Huasheng, Pingmei Shenma and Zhongsha Tianjin 3 new BPA installations are expected to be put into operation

　　Weak demand

　　Since the beginning of this year, the repeated epidemics overseas and the intricate trend of bulk commodities have caused many industries, including PCs, to face difficulties

　　It is understood that due to the repeated effects of the epidemic, the acceptance of PCs by downstream terminal factories is limited.

　　With the impact of power curtailment, the start of downstream factories has further weakened, and the consumption of goods has continued to fall

　　From the perspective of operating rate, the operating rate of the downstream modification industry and the injection molding industry has steadily increased by 1 to 2 percentage points, but the overall operating rate is still at a low level during the year; the operating rate of the sheet industry has basically remained stable

　　From the perspective of the terminal car market, domestic car sales in September were 2.

　　According to industry insiders, although the chip supply shortage has been slightly eased, it still cannot meet production needs.
It will take time for the auto market to completely get out of the trough.
Therefore, it is difficult to form a supportive effect on the PC and other related raw material product markets
.