Entering Thursday, terminal demand has been consistently weak in recent times, with a strong wait-and-see sentiment in the market. There is a lack of purchasing willingness in the middle and lower reaches, and under bearish sentiment, the pace of stocking up for essential needs has also slowed down. The exploration of price increases by individual factories has limited stimulation, and even if multiple facilities maintain around 50% operation, it is difficult to fundamentally shake the supply-demand imbalance. If the feedback on subsequent price increases continues to be poor and the pressure of losses increases, some individual factories may maintain production reduction and price protection measures. Currently, the mainstream DMC price remains stable at 11100-11500 yuan/ton. Due to the load reduction of multiple individual units, the supply of by-products has decreased. Recently, the price of Yijia has increased significantly, from around 1500 yuan/ton at the beginning of September to 2500-3000 yuan/ton, with a cumulative increase of over 1000-1500 yuan/ton. Due to tight supply, some individual units are used more for their own purposes, resulting in higher quotations, which are basically negotiable. As the main raw material of crosslinking agent, the tight supply and high price of methyl methacrylate have also led to a decrease in the operating rate of crosslinking agent manufacturers. At the same time, crosslinking agent manufacturers who have been suppressed by low prices for a long time have also taken advantage of the situation to raise their prices, which has impressed the industry. According to our organic silicon mall, since mid September, the price of methyl tributone oxime silane has continued to rise from 13500 yuan/ton to 4000 yuan/ton, and the current price is 17000-18000 yuan/ton. Some crosslinking agent manufacturers have stated that the operating rate is insufficient and the order schedule is delayed. Silicone rubber manufacturers are cautious about chasing price increases and try to digest their previous inventory as much as possible, with multiple batches and small quantities of goods for immediate needs. If individual factories further reduce their burden, the price storm of crosslinking agents is likely to continue.
107 glue and silicone oil market: With weak demand, the prices of 107 glue and silicone oil continue to be under pressure. This week, the price of 107 glue is 11500-12000 yuan/ton, and the price of silicone oil is 13300-13800 yuan/ton. Specifically, due to the sluggish demand in traditional industries such as construction and photovoltaics, the market as a whole presents a situation of oversupply, leading to cautious procurement by silicone adhesive companies, mainly focusing on essential needs. Under the situation of poor shipment, there is a certain inventory pressure on 107 adhesive and silicone oil, especially last week when the silicone adhesive company had a urgent need to replenish the warehouse, and the willingness to continue stocking is not strong. In addition, in terms of silicone oil, recently faced with the upward pressure of raw materials DMC and silicone ether, although there is a willingness to follow suit, there is no basic order support, and it can only continue to remain stable. Transactions are subject to negotiation to alleviate the supply-demand imbalance. In the short term, the prices of 107 glue and silicone oil are generally stable, and it is expected that the market will maintain a situation of large stability and small fluctuations in the future. Foreign brand silicone oil market: Against the backdrop of weak demand both domestically and internationally, agents generally adopt a strategy of secretly giving up profits. Due to the fact that high priced sources of goods have not been fully digested by the market in the early stage, some foreign silicone oil agents have suffered significant losses in profits after the price has fallen. Currently, the quoted price is 14000-16000 yuan/ton, and the price follows the market trend.
Cracking material silicone oil market: The price of new materials remains stable, and feedback from cracking material companies after price reduction operations is average. Currently, the price of cracking material silicone oil remains at 10800-11300 yuan/ton. On site, due to high costs and long-term losses, there has been an increase in production cuts by cracking material companies in the fourth quarter. Currently, they are maintaining individual trading and Buddhist style operations. In terms of waste silicone, orders from silicone product companies are average, and the output of raw materials is low and slow; However, cracking material enterprises have light trading and limited procurement. Waste silicone recyclers are being squeezed by both parties, resulting in poor supply flow and a continuous stalemate between buyers and sellers. Under the supply-demand game, the price of raw materials for cracking has been lowered to 3000-3200 yuan/ton (excluding tax). In the short term, if there is no substantial improvement in terminal demand, the market for cracking materials and waste silicone gel will continue to operate in a sluggish manner, and companies generally hold a conservative attitude and trade according to market conditions.
On the demand side: Driven by the rising prices of crosslinking agents and other raw materials, the cost of silicone adhesive continues to rise. Companies have been actively stocking up in the early stages, but the current market is showing a pattern of oversupply, and the improvement in demand is not as expected, resulting in a bearish sentiment. Recently, the performance of the silicone adhesive market has been negative. On the other hand, under pressure from tariff policies, the wait-and-see sentiment has intensified, and silicone rubber companies have low enthusiasm for upstream procurement. It is expected that the market will stabilize in the short term. In addition, in terms of photovoltaics, as of the end of August 2025, the cumulative installed capacity of solar power generation in China has reached 1.117 billion kilowatts, ranking first in the world. From the perspective of new additions, from January to August alone, solar power generation accounted for the vast majority of all new installed power generation capacity in the country. The installed capacity of photovoltaics has significantly increased, but the price war in the photovoltaic industry is also alarming. This year, it has been immersed in the call for "anti internal competition", continuously promoting various production reduction policies from bottom to top, and the growth rate of photovoltaic adhesive demand has correspondingly slowed down. In addition, the overseas demand for photovoltaic products is subject to multiple policy interferences and uncertainties.
Overall, in the past few years, driven by strong demand in emerging fields such as new energy and photovoltaics, production capacity has been concentrated and expanded. However, the growth momentum of the photovoltaic and construction adhesive industries is currently weak, which has limited support for 107 adhesive and silicone oil. It is expected that in the short term, 107 adhesive and silicone oil enterprises will still need to find new balance points in supply and demand adjustment.