【Lead】US-Iran negotiations remain deadlocked, international oil prices rise for three consecutive days, WTI breaks through $102/barrel, plastic raw materials market shows mixed movements.
I. Crude Oil Market: Geopolitical Risks Push Oil Prices Up
As of May 12 closing, WTI crude oil futures for June 2026 settled at $102.18/barrel, a single-day gain of 4.19%; Brent crude oil futures for July 2026 settled at $107.77/barrel, up 3.42%. The deadlock in US-Iran negotiations remains unresolved, and concerns over global oil supply disruptions persist, pushing oil prices up for three consecutive trading sessions.
II. Key Plastic Raw Materials Market
1. PVC Paste Resin: Prices Weakened Downward
On May 12, domestic PVC paste resin market prices adjusted weakly downward. East China large plate material average price was 6,750 yuan/ton, down 125 yuan/ton from the previous trading day; Guangdong large plate material average price was 6,850 yuan/ton, down 125 yuan/ton. On the supply side, ethylene-based production capacity slightly increased, and some calcium carbide-based units that were temporarily halted have resumed operation; on the demand side, glove factory orders remain acceptable, but large plate material downstream orders are weak, and overall market purchasing enthusiasm is not high. According to a Sci99 survey, 60% of industry insiders believe there is still room for further market softening.
2. TDI Market: Downtrend Continues
TDI market continued its downward trend. East China Shanghai-origin TDI80/20 quoted at 16,000-16,300 yuan/ton, with daily decline of 300-350 yuan/ton; South China Shanghai-origin simultaneously fell 300 yuan/ton to 16,000-16,300 yuan/ton. On the supply side, a major Shanghai plant has maintenance scheduled in May, Hanhua will shut down for maintenance in early June, Cangzhou Dahua has already halted production for approximately three weeks, and Fujian plant operating rates have decreased. Demand remains sluggish, merchant sentiment is divided, and market transactions are primarily driven by rigid demand. Sci99 expects TDI prices to stabilize in the short term.
3. Rigid Foam Polyether: Cost Support Lacks Strength
Rigid foam polyether market slightly declined. North China 4110 quoted at 9,900-10,600 yuan/ton, down 200 yuan/ton; East China at 10,000-10,800 yuan/ton, down 150 yuan/ton. Raw material propylene oxide market is weak and stagnant, providing insufficient cost support; downstream purchasing is primarily driven by rigid demand, with a dull trading atmosphere. 70% of industry insiders believe the market still has room for a decline of approximately 300 yuan/ton today.
III. Macro Economy: Industrial Output Improves, Foreign Trade Steady Growth
On the macro front, April industrial production sector sentiment improved; China's total goods trade import and export value in the first four months increased 14.9% year-on-year, maintaining a steady growth trend. Among the 109 chemical products monitored by Sci99, 29 products rose over the past two weeks (accounting for 26.61%), and 68 products fell (accounting for 62.39%), indicating overall pressure in the chemical products market.
IV. Market Outlook
In the short term, persistently high crude oil prices will provide some cost-side support for downstream petrochemical products. However, the supply-strong demand-weak pattern in the plastic raw materials market continues, and some sub-sectors still face downward pressure. Subsequent focus should be on the recovery of downstream demand and international crude oil price movements.
Source: Sci99.com | Collection Date: May 13, 2026
