[Market Overview - July 29, 2026]
On July 29, China's domestic plastics market continued its narrow-range consolidation. PE prices partially softened with linear futures opening lower; PP market is expected to remain weak; PVC saw a slight decline in quotes; PS still faces downside risk.
1. PE Market: Downstream Caution Prevails
PE prices trended lower yesterday. Linear futures opened lower and弱势运行 (traded weakly), though they provided some support to the market. Approaching month-end, trading sentiment stayed subdued, and downstream demand was lukewarm, with buyers adopting a cautious, wait-and-see attitude. Some deals were negotiable.
Market prices: Linyi, Yangzi 7042 at ¥8,480/ton (tax-free); Hangzhou, Yanshan 1C7A at ¥11,750/ton; Wuhan, Shenhua 2426H at ¥9,300/ton.
2. PP Market: Weak Consolidation Expected
PP futures fluctuated narrowly, leaving traders cautious. Most merchants held offers steady with minor adjustments. Downstream plants showed no improvement in demand, purchasing interest remained weak, and spot trading was quiet with negotiable pricing.
Fujian Refining T30S delivered at ~¥7,190/ton; Jieyang L5E89 at ~¥7,150/ton; Zhongjing V30G at ¥7,150-7,200/ton.
3. PVC Market: Quotes Narrowly Lower
PVC market saw minor turbulence with limited change in trading volume. Traders mostly followed the market, flexibly selling down inventory. Downstream demand was average, with most procurement on an as-needed basis, resulting in a somewhat stagnant market.
Market prices: Qilu Chemical City held steady, Tianjin material at ~¥5,700/ton; Guangzhou dipped slightly, 5-type calcium carbide method at ¥5,580-5,680/ton; Shantou mainly stable, Yili at ¥5,720/ton.
4. PS Market: Slight Downside Risk Remains
PS market remained generally stable with individual price adjustments. Traders held a cautious-to-bearish outlook but were not eager to offer significant discounts. Downstream buying sentiment was weak, inquiry activity was low, and transactions were primarily small spot orders.
Market prices: Shantou, PS 118 fell ¥30 to ¥8,320/ton; Dongguan, PH88 fell ¥50 to ¥9,250/ton; Shunde stable, Guangzhou 525 at ¥8,250/ton.
5. International Crude Oil
As of July 29, WTI crude ~$81/barrel, Brent ~$87/barrel. Easing geopolitical tensions reduced upward momentum in crude, easing cost support for plastics feedstock.
6. Industry News
- Alpek (USA): Global supply disruptions are reshaping PET purchasing patterns, with more buyers turning to regional suppliers, helping the company expand its customer base.
- National Plastics Conference 2026: Scheduled for Sept. 14-17 in Houston, TX — uniting the global plastics supply chain.
- Plastics Industry Awards 2026: 25th anniversary celebration on November 20, recognizing industry innovation and excellence.
[Today's Forecast]
- PE: Short-term weak consolidation, downstream caution to persist
- PP: Weak consolidation expected, demand support insufficient
- PVC: Quotes may see further slight decline, watch inventory changes
- PS: Downside risk remains
Sources: Zhuochuang, Longzhong, Mysteel, Jinlianchuang, OilPrice.com | July 29, 2026
