Group 1 - Domestic all-latex rubber price is 16,000 yuan/ton, down 200 yuan/ton from the previous day; Thai No. 20 mixed rubber price is 15,180 yuan/ton, down 120 yuan/ton from the previous day [4][30] - As of February 1, 2026, China's natural rubber social inventory is 1.281 million tons, an increase of 9,000 tons, with a growth rate of 0.7% [4][30] - The total inventory of dark rubber in China is 853,000 tons, up 0.7%, while the total inventory of light rubber is 428,000 tons, up 0.8% [4][30] Group 2 - With the arrival of winter in the Northern Hemisphere, the global market is entering a low production season, indicating a shift from dynamic pricing based on supply and demand to static pricing based on inventory levels [5][31] - Despite expectations of moderate growth in global demand for tires and rubber products by 2026, the growth will take time and may be limited by ongoing global trade barriers [5][31] - As market expectations cool down, RU and NR are expected to experience a correction [5][31] Group 3 - The PX industry in China has seen a load increase of 0.3 percentage points to 89.5%, while the Asian industry load increased by 0.8 percentage points to 82.4%, indicating a stable supply [6][32] - The demand side is affected by numerous maintenance plans for downstream PTA facilities in the first quarter, which could tighten supply [6][32] - The overall supply-demand pattern for PX is expected to shift to a loose state in the first quarter [6][32] Group 4 - The PTA industry load increased by 1.0 percentage points to 77.6%, but remains low compared to historical levels, with expectations of tightening supply due to maintenance plans [8][34] - The polyester industry load decreased by 4.9 percentage points to 79.3%, indicating a potential acceleration in the decline of industry operations [8][34] - The overall demand is weakening, leading to inventory pressure in the first quarter [8][34] Group 5 - The domestic ethylene glycol industry load increased by 1.8 percentage points to 76.2%, but the overall pressure remains due to sufficient domestic supply [10][36] - February may see the largest inventory pressure of the first half of the year for ethylene glycol [10][36] - The current price levels are not sufficient to trigger large-scale production cuts [10][36] Group 6 - The bottle-grade polyester industry has been in a continuous de-inventory phase since the fourth quarter of last year, with significant reductions expected around the Spring Festival [12][41] - The supply side is expected to continue contracting, providing key support for inventory reduction and processing fees [12][41] - The market sentiment is weakening, with short-term price movements expected to remain stable [12][41] Group 7 - The glass market is experiencing a slight decline in prices, with supply pressures easing and a decrease in production [17][43] - Recent data shows a slight increase in glass inventory, with production levels declining [17][43] - The overall market is expected to remain stable, with some support from production line maintenance [17][43] Group 8 - The PVC market is facing high supply pressure due to elevated operating rates, despite a significant slowdown in production growth expected in 2026 [22][48] - The short-term outlook remains cautious, with limited improvements in the fundamental market conditions [22][48] - The market is expected to experience wide fluctuations, with reference price ranges set for the main contracts [22][48]

Group 1: Rubber Market - Domestic all-latex rubber price is 15,800 yuan/ton, down 350 yuan/ton from the previous day; Thai 20 mixed rubber price is 15,000 yuan/ton, down 230 yuan/ton [4][27] - As of February 1, 2026, Qingdao's total inventory of natural rubber in bonded and general trade is 591,700 tons, an increase of 7,200 tons, or 1.23% from the previous period [5][28] - With the arrival of winter in the Northern Hemisphere, the market is expected to shift from dynamic pricing based on supply and demand to static pricing based on inventory levels, leading to high volatility in RU&NR&Sicom prices in the short term [5][28] Group 2: PX Market - PX industry load in China increased by 0.3 percentage points to 89.2%, while the Asian industry load increased by 0.6 percentage points to 81.6%, indicating a stable supply [6][29] - The demand side shows that downstream PTA facilities have many maintenance plans in the first quarter, which may affect PX demand [6][29] - The first quarter is expected to see a loosening of the PX supply-demand structure, with short-term price fluctuations anticipated [6][29] Group 3: PTA Market - PTA industry load remains stable at 76.6%, which is low compared to historical levels, with expectations of tightening supply due to maintenance plans [7][30] - The demand side is weak, with new orders declining and factory operating rates in Jiangsu and Zhejiang continuing to fall [7][30] - The PTA spot basis is expected to weaken due to reduced polyester production, leading to inventory pressure in the first quarter [7][30] Group 4: Polyester Market - Several polyester production facilities are undergoing maintenance, with a total capacity of 1.8% affected [8][31] - The average sales estimate for polyester in Jiangsu and Zhejiang is around 20-30% as of 3:30 PM on Monday, indicating weak demand [8][31] Group 5: Soda Ash Market - Soda ash futures experienced a slight decline, with the latest production increasing by 11,000 tons to 783,000 tons, indicating rising supply pressure [15][38] - Downstream demand has slightly decreased, with the latest soda ash factory inventory increasing by 16,000 tons to 156,000 tons [15][38] - The market sentiment is weak, with soda ash prices expected to remain low in the short term [15][38] Group 6: Glass Market - Glass futures saw a slight decline, with inventory decreasing by 33,000 tons to 2,628,000 tons, while production remained stable [40][41] - The demand for glass is weak due to seasonal factors, with the latest deep processing order quantity decreasing [40][41] Group 7: Caustic Soda Market - As of February 2, 2026, caustic soda futures increased by 29 yuan/ton to 2,004 yuan/ton, with stable prices in the market [42][43] - Demand is generally weak, but some caustic soda companies are reducing production, leading to stable prices [42][43] Group 8: PVC Market - PVC futures decreased by 49 yuan/ton to 5,014 yuan/ton, with supply pressure remaining high due to elevated operating rates [44][45] - Short-term expectations for PVC are optimistic due to a significant reduction in production growth in 2026 [44][45] Group 9: Polyolefins Market - Polyolefins are experiencing wide fluctuations, with LLDPE futures up and PP futures down, indicating mixed market conditions [46] - The overall supply trend remains high, but demand is entering a seasonal downturn [46]