As the 2026 National Day holiday concludes, the domestic flexible foam polyol market has ushered in a new adjustment cycle, presenting a stable yet slightly volatile operational trend driven by raw material costs, downstream demand recovery and overall supply-demand dynamics. After the holiday, the industry has witnessed gradual market resumption, with manufacturers, distributors and downstream enterprises accelerating production and shipment arrangements, laying a solid foundation for the orderly development of the fourth-quarter polyol market.
Prior to the National Day holiday, the flexible foam polyol market maintained a weak and consolidated pattern with muted pre-holiday stocking sentiment among downstream buyers. Market transactions were mainly based on rigid demand, and overall market mobility remained sluggish. Affected by the fluctuation of propylene oxide prices, the core raw material for polyols, the domestic flexible foam polyol market experienced periodic price corrections in September, with mainstream market prices hovering at a relatively low level within the month, and the industry was in a wait-and-see atmosphere for post-holiday market changes.
In the post-holiday market stage, the cost side has provided certain supportive momentum for flexible foam polyol prices. The raw material propylene oxide market has stopped falling and stabilized with a slight upward correction, effectively relieving the previous cost inversion pressure on polyol manufacturers. In addition, individual overseas polyol and polyurethane raw material enterprises have continued to release price increase signals in October, driving the recovery of overall industry confidence and curbing the excessive decline of domestic flexible foam polyol prices.
From the perspective of supply and demand, domestic polyol production enterprises have maintained normal operating loads after the holiday. Most mainstream manufacturers have sufficient inventory reserves with no tight supply pressure in the short term. On the demand side, downstream flexible foam manufacturers, covering furniture, bedding, automotive interior and daily consumer goods fields, have gradually resumed full-capacity production. Driven by the fourth-quarter traditional consumption peak and pre-year-end stocking demand, downstream rigid demand has continued to release steadily. However, the overall demand recovery pace is moderate, lacking large-scale centralized stocking momentum, which restricts the sharp upward adjustment of polyol market prices.
Looking ahead to the late October market, the domestic flexible foam polyol market is expected to maintain a stable and slightly rising trend with limited fluctuation range. On the cost side, the propylene oxide market is likely to operate strongly, continuing to support polyol prices. On the demand side, with the continuous progress of terminal enterprise stocking and the steady recovery of downstream foam product orders, market transaction activity will be further improved. Meanwhile, the sufficient market supply will keep the market from a sharp rally.
Our company will continue to closely track raw material price fluctuations, market supply and demand changes and industry policy dynamics. We will maintain stable product quality and sufficient inventory supply, provide cost-effective flexible foam polyol products and professional supporting services for new and old customers, and respond flexibly to subsequent market trend changes to achieve win-win development with all partners.