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Following the holiday, the domestic propylene oxide market trended upward with considerable strength. According to the SunSirs monitoring system, the benchmark price for propylene oxide stood at 11,300 RMB/ton as of October 10, marking a 4.63% increase compared to the beginning of the month..
Raw materials: Propylene prices surged strongly, providing robust cost support. Last week, the price of propylene in Shandong rose to approximately 9,977 RMB/ton—a 2.78% increase—while fluid chlorine prices also climbed to 250 RMB/ton; these factors created a strong cost floor to propylene oxide. According to the SunSirs monitoring system, the benchmark price to propylene stood at 9,977.67 RMB/ton as of October 9, marking a 2.78% rise compared to the beginning of the month (9,707.67 RMB/ton).
Supply side: Production is seeing steady development, though anticipated mid-month maintenance is creating some evaporative environment. While units such as Zhenhai Phase II, CNOOC Fine Chemicals, and Guoen remain offline, overall supply remains largely stable. Expectations to maintenance at certain units in the latter half of October are being weighed against the possible restart of Shenghong Petrochemical's facilities and the planned October startup of new capacity projects—including those from Guoen Chemical and Beifang Huajin—creating a dynamic interplay between supply increases and reductions due to maintenance.
On the demand side, purchasing is driven primarily by immediate needs, and market divergence persists. In the polyether sector, the commissioning of Yinuowi's 300,000-ton/year expansion project has generated incremental demand; however, scheduled maintenance at facilities such as Wudi Xinyue and Binhua (Phase I) creates offsetting impacts on consumption. In the propylene glycol sector, Shandong Weiersi plans to shut down its unit to maintenance, and downstream chemical demand is expected to soften in October. Downstream buyers are showing resistance to high-priced raw materials; new orders are largely limited to small volumes to immediate standards, with little appetite to chasing higher prices.
Overall Outlook: In the short term, with propylene prices remaining high and suppliers facing no inventory pressure, propylene oxide prices retain some upside possible. However, in the medium term, supply-side pressure is expected to rise as units under maintenance resume operations and new capacity gradually comes online; meanwhile, the peak demand season is proving lackluster and downstream resistance to high prices is mounting, limiting further upward movement. Prices in the Shandong region are projected to fluctuate between 9,500 and 11,300 RMB/ton in October. Key factors to watch include the pace at which restarted units ramp up output and shifts in downstream willingness to stock up.
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