[Key Data]
As of the week of July 30, 2026, domestic East China spot prices for major plastic raw materials (CNY/MT):
| Grade | Type | Price | Weekly Change |
| LDPE Film | —— | 10,600 | Flat |
| LLDPE Film | —— | 8,800 | -50 |
| HDPE Film | —— | 9,200 | Flat |
| HDPE Injection | —— | 10,050 | +100 |
| HDPE Raffia | —— | 10,750 | -100 |
| PVC | SG5 | 5,400 | Flat |
| Calcium Carbide PVC | —— | 4,550 | Flat |
| Ethylene-based PVC | —— | 6,050 | Flat |
| PP | —— | 9,900 | Flat |
[Market Overview]
During the week of July 29-August 2, domestic plastic raw materials markets remained under pressure with thin trading volumes. In the PE sector, LLDPE and LDPE prices softened amid weak demand. HDPE raffia prices fell by 100 CNY/MT due to increased supply arrivals. The PP market continued its supply-demand tug-of-war with producers maintaining firm offers, though downstream factories procured on demand with limited volume. PVC markets held steady after February's sharp price hikes; India's BIS certification policy confirmed a delay to end-2026, providing some support for Chinese PVC exports.
[Cost Dynamics]
International crude oil fluctuated widely this week, weakening cost support for plastics. Ethylene CFR Northeast Asia remained in the 877-885 USD/MT range. PDH-based propylene margins continued to compress. Overall cost support for the chemical sector has weakened versus earlier periods.
[Downstream Activity]
Downstream plastic product operating rates held at medium-low levels this week. Agricultural film orders increased slightly with early film-stock demand picking up, but packaging film and daily-use plastic orders remained sluggish. End-user raw material inventories are generally low, with demand-driven procurement the norm. China's manufacturing PMI remains in contraction, providing limited demand-side support.
[Market Outlook]
Short-term, plastic raw materials markets are expected to maintain their divergent trend. PE faces growing supply pressure as import volumes decline and maintenance units restart. PP is supported by costs but demand constraints will limit upside. PVC has upside potential given India's BIS policy. As the traditional peak demand season approaches, close attention should be paid to downstream stock-up activity and policy developments.
Source: Sci99.com, Zhongsu Online compiled
