1. Crude Oil Market Dynamics
On July 1, 2026, international crude oil prices showed volatile movements. WTI crude oil settled at $69.50/barrel, down 1.77%; Brent crude oil settled at $72.92/barrel, down 0.31%. The USD/CNY central parity rate was reported at 6.8067, down 0.06%.
According to SCI99 data, influenced by the progress of the US-Iran agreement and Fed policy expectations, crude oil market volatility intensified, weakening cost support for downstream petrochemical products.
2. Plastics Commodity Price Index
China Plastics Price Index (daily) stood at 883.72 points, down 0.94% from the previous trading day. SCI99 commodity index showed that among 108 monitored products, 12 products rose (11.11%), 57 products remained stable (52.78%), and 39 products declined (36.11%).
3. Major Plastics Varieties Market Trends
1. PE (Polyethylene)
PE market was generally stable with slight movements. Futures prices ran at high levels, with transaction centers in some regions rising slightly. Downstream buyers replenished inventory based on rigid demand, with increased market inquiries. LDPE mainstream quotes were in the range of 9,400-10,200 yuan/ton; LLDPE quotes at 7,700-8,550 yuan/ton; HDPE quotes at 7,300-8,650 yuan/ton.
2. PP (Polypropylene)
PP market prices were generally stable with minor movements, with futures fluctuating narrowly. Traders' offers remained mostly stable, with individual slight adjustments. Downstream factory demand showed no signs of improvement, with insufficient purchasing intention. Mainstream grade quotes were in the range of 7,150-7,680 yuan/ton.
3. PVC (Polyvinyl Chloride)
PVC market prices mostly declined. Traders sold according to their own costs and inventory, with slight concessions to promote transactions. The mainstream price of calcium carbide-based PVC 5-type was 5,780-6,100 yuan/ton (tax inclusive, self-pickup); ethylene-based PVC 1,000-type mainstream price was 5,900-6,100 yuan/ton.
4. Major Chemical Products Price Changes (July 1, 2026)
Top 5 Gainers: Propylene (2.03%), Propylene Oxide (1.30%), PVC (0.70%), PP Powder (0.64%), Etherified C4 (0.47%)
Top 5 Decliners: Methanol (-4.38%), Acetone (-4.26%), PX (-2.86%), Pure Benzene (-2.80%), Acrylic Acid (-2.29%)
5. Market Outlook
In the short term, the plastics market is affected by both crude oil price fluctuations and weak downstream demand, and is expected to maintain a volatile pattern. Supply pressure on PE and PP has eased somewhat, but demand recovery is slow; PVC social inventory remains high, and the momentum for price increases is insufficient. Medium to long term, close attention should be paid to macroeconomic policies, crude oil price trends, and changes in downstream industry prosperity.
Data Source: SCI99, Longzhong Information, Sohu Finance
Published: July 2, 2026
