In late August, the polyester chip market in East China experienced a decline in volume, accompanied by a sharp drop in prices. The reference price for large polyester chips ranged between 10,300 to 10,550 yuan, while small chips were priced between 10,200 to 10,400 yuan—roughly 400 yuan higher than mid-August levels.
Key market trends include: first, a significant reduction in market volume combined with a steep price decline, which contradicts the usual pattern of rising prices with increased demand. Second, despite rising production costs, the price of polyester chips still faces considerable pressure at the 10,500 yuan level. Third, there is a clear divergence in market sentiment, which has limited further price increases.
Moving on to ethylene glycol, the East China market saw a slight increase in trading volume during late August, but prices fell marginally. The reference price was set between 7,800 to 8,200 yuan, up about 200 yuan from mid-August. Key factors include: first, although polyester chip prices rose slightly, the surge in ethylene glycol supply increased selling pressure. Second, after a previous price rise, some traders made profits, but market pressure led to a rapid price drop. Third, international ethylene glycol prices remained relatively stable, with the price on August 26 around $820, similar to mid-August levels.
For terephthalic acid, the East China market saw an increase in trading volume and a steady rise in prices, with the reference range at 7,900 to 8,000 yuan—up about 100 yuan from mid-August. Market characteristics include: first, the overall price trend has been stable, with growing trade volumes and gradual price increases. Second, the slight rise in polyester chip prices also contributed to the upward movement in terephthalic acid. Third, Southeast Asian prices saw a minor adjustment, with the price on August 26 at $800.
Acrylonitrile in East China continued to see a shrinking market volume, with no notable demand spikes. The reference price remained stable at 13,100 to 13,300 yuan, similar to mid-August. Key points: first, the price fluctuated within a narrow range. Second, the stability of acrylic fiber prices supported acrylonitrile prices. Third, international acrylonitrile prices saw a slight increase, reaching $1,320 to $1,330 on August 26—up 10 dollars from mid-August.
Polyvinyl alcohol (PVA) in East China saw an increase in trading volume, with prices showing minimal fluctuations. The reference price for PVA 1799 was between 12,800 to 13,000 yuan, roughly unchanged from mid-August. Market dynamics: first, the increased volume created a balance between support and pressure. Second, high international crude oil and ethylene prices have kept producers from cutting prices significantly. Third, downstream polyvinyl alcohol products maintained stable pricing, offering some support to the overall market.
Lastly, paraxylene in East China saw a reduction in trading volume, with prices remaining elevated. The reference price stood at 7,900 to 8,100 yuan, similar to mid-August. Key factors: first, the rising price of polyester chips provided support for p-xylene. Second, high benzene prices and limited xylene supply restricted downward movement. Third, Southeast Asian p-xylene prices rose slightly, trading around $880 on August 27—up 5 dollars from the previous period.
Overall, the chemical markets in East China showed mixed performance in late August, with some sectors experiencing declines and others showing stability or modest gains. Market participants remain cautious as they monitor supply-demand dynamics and external price influences.
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