According to the commodity market analysis system of Shengyi Society, the price of formic acid in China has been stable recently. As of December 12th, the benchmark price of 85% industrial grade formic acid in Shengyi Society was 2910 yuan/ton, which was the same as the same period last week (December 5th), with a month on month increase of 2.83% and a year-on-year increase of 4.86%.

（1） Supply side: Significant phased contraction, concentrated capacity disturbance
Enterprise production reduction and maintenance overlap: A manufacturer in Feicheng, Shandong has implemented a second production reduction, maintaining a low daily output; Part of the equipment in a production enterprise in Liaocheng is undergoing continuous maintenance, and the synchronous contraction of production capacity in the two major regions directly compresses market supply.
（2） Inventory and Demand: Weak Balance Pattern Suppresses Price Fluctuations
High inventory buffer supply contraction: Despite continuous supply side reductions, industry inventory remains above the median level, and inventory plays a significant role in filling the supply gap.
Weak downstream demand restricts upward momentum: traditional demand for formic acid shows weakness; the feed industry is in a seasonal adjustment period, and demand growth in the breeding sector is weak; The operating rate of the leather and textile industries remains below 60%; The pharmaceutical and chemical industry only maintains rigid on-demand procurement, resulting in insufficient overall consumption and digestion capacity. The demand for emerging fields such as hydrogen storage and transportation, and flow batteries has not yet formed a scale, making it difficult to support market price increases in the short term. ​
（3） Cost side: Stable raw material prices provide support
Methanol, the raw material for formic acid production, is operating steadily at a high market level. The shortage of port imports and the demand for olefins in mainland China support the prices of raw materials, and there is no significant downward pressure on the cost side. At the same time, the prices of auxiliary raw materials such as sulfuric acid remain stable, and the production costs of enterprises are maintained within a reasonable range, providing basic support for the stability of formic acid prices. ​
The formic acid data analyst from Shengyi Society believes that formic acid has entered a stage equilibrium range, and traders’ willingness to quote is stable. Downstream procurement is mainly based on on-demand replenishment, and prices are stable. It is expected to remain stable in the short term, but specific market changes still need to be monitored.

According to the Commodity Market Analysis System of Shengyi Society, on December 5th, the price of organic silicon DMC participated in 13625 yuan/ton. On December 1st, the price of organic silicon DMC was referenced at 13150 yuan/ton, with a price increase of 375 yuan/ton, an increase of 3.61%.

From the commodity market analysis system of Shengyi Society, it can be seen that in the first week of December (12.1-12.5), the domestic organic silicon DMC market as a whole showed a stable and upward trend. The organic silicon DMC market continued to recover, and the market focus shifted towards the high-end. At the beginning of the week, major factories in Shandong province took the lead in raising the shipment price of organic silicon DMC by 200 yuan/ton. During the week, leading factories in East China closely followed the upward trend and adjusted the price of organic silicon DMC to 14000 yuan/ton. As the weekend approached, major factories in Shandong once again raised the price of organic silicon DMC to 13500 yuan/ton. At present, as of December 5th, the domestic market price reference for organic silicon DMC is around 13500-14000 yuan/ton.
Analysis of Factors Influencing Market Trends
Fundamental situation: Looking back at November, an important conference was held in the industry, and a consensus on “anti involution” was initially formed. Industry competition gradually returned to value enhancement, and the overall market atmosphere improved. The price of organic silicon DMC market gradually rebounded. In December, the industry’s energy-saving and emission reduction plan and industry conference were completed, and the overall market mentality continued to respond positively, promoting the continuous recovery and upward trend of market prices.
On the supply side: Currently, due to the emission reduction of equipment, the overall inventory of organic silicon DMC factories is low, and some factories have good order scheduling and strong pricing mentality, providing good support to the market on the supply side.
In terms of demand: Currently, although the downstream demand for organic silicon DMC is still relatively cautious, there has been an overall improvement compared to the previous period. Some downstream customers are concerned about cost pressure in the later period, so they are moderately stocking up, and the overall stocking pace has increased.
Market analysis in the future
At present, the overall trading atmosphere of the organic silicon DMC market is mild, and the mentality of industry players is good. The supply and demand transmission in the market has been boosted. The organic silicon DMC data analyst of Business Society predicts that in the short term, the domestic organic silicon DMC market will continue to operate steadily and positively, and market prices are expected to continue to be slightly boosted before returning to stability. Specific changes in supply and demand news need to be closely monitored.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price trend of soda ash increased in November. The average market price of light soda ash at the beginning of the month was 1186 yuan/ton, and the average market price at the end of the month was around 1224 yuan/ton. The price increased by 38 yuan/ton during the month, with a growth rate of 3.20%.
2、 Market analysis
According to the Commodity Analysis System of Shengyi Society, the market for soda ash in November is expected to be strong. On the supply side, the maintenance or reduction of soda ash equipment has led to a decline in overall operating rates, a decrease in enterprise inventory, and a significant increase in soda ash quotations; On the demand side, the glass industry has experienced narrow fluctuations in production, which has increased the enthusiasm for purchasing soda ash. The total inventory of soda ash has decreased, and the market sentiment is clearly bullish. Within the month, soda ash prices have shown a strong upward trend.
As of November 30, 2025, the mainstream market price of light soda ash in East China is around 1180-1550 yuan/ton, an increase of 50-150 yuan/ton compared to the previous month; The mainstream price of light soda ash in Central China is around 1110-1220 yuan/ton, with a month on month increase of 20 yuan/ton; The mainstream price of light soda ash in North China is around 1250-1270 yuan/ton, with a month on month increase of 80-100 yuan/ton.
On the demand side: According to the commodity analysis system of Shengyi Society, the glass price range fluctuated this month, and the average glass market price decreased from 13.85 yuan/square meter to 13.68 yuan/square meter, with an overall decline of 1.23%. The glass production rate has slightly declined within the month, with a narrow decrease in enterprise inventory. Downstream performance has been average, with urgent procurement following up. The market transaction atmosphere is sluggish, and glass inventory is limited, resulting in a weak and downward trend in the glass market.
Market forecast: There will be significant maintenance and reduction of soda ash plants, resulting in weakened supply pressure. There are cold repair plans downstream, leading to a decrease in production expectations and insufficient support for soda ash. The basic fundamentals of the market will continue to be strong in supply and weak in demand. It is expected that the soda ash market will experience fluctuations and consolidation in December, depending on downstream follow-up situations.

The center of gravity of ethylene glycol prices shifted downwards in November

The price of ethylene glycol has been falling continuously in November, and the price center has shifted downwards. Recently, the price has started to stop falling. According to data from Shengyi Society, as of November 28th, the average price of domestic oil to ethylene glycol was 4050 yuan/ton, a decrease of 4.05% from the average price of 4220.83 yuan/ton on November 1st.
In terms of port ethylene glycol, the basis of port ethylene glycol spot contracts (starting from 500 tons) has weakened significantly, and this week’s contracts have weakened during the day, leading to the start of discounting futures. Today’s intraday basis quotation range for this week’s contracts is+8 to -5. As of the close on November 28th, the contract basis quotation for next week will be+5 to+6, the contract basis quotation for December will be+18 to+20, and the contract basis quotation for January will be+33 to+35.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 3720-3880 yuan/ton.
In terms of external ethylene glycol, as of November 26th, the recent negotiations on the landed price of ship cargo have resulted in transactions around $460-462 per ton.
Changes in Ethylene Glycol Plant in November 2025:
In November 2025, the ethylene glycol plant showed a trend of multiple domestic plant restarts, maintenance, and load reduction in parallel. The shutdown of overseas Iranian plants caused supply concerns, and some Middle Eastern and Southeast Asian plants were operating stably,
East China main port ethylene glycol inventory increases by 209000 tons in November 2025
On November 27, 2025, the total inventory of ethylene glycol in the main ports of East China was 708000 tons, an increase of 40400 tons compared to the total inventory of 667600 tons on November 17; Compared to the total inventory of 499000 tons of ethylene glycol at the East China main port on October 30th, the inventory has increased by 209000 tons; Compared to September 29th, the total inventory of ethylene glycol in the East China main port was 355100 tons, an increase of 352900 tons.

The market price of butadiene rubber in November fluctuated and fell. According to the commodity market analysis system of Shengyi Society, as of November 28th, the market price of butadiene rubber in East China was 10680 yuan/ton, a decrease of 4.22% from 11150 yuan/ton at the beginning of the month.

Since November, the inventory of butadiene has remained high, coupled with the low volatility of international crude oil, the price of raw material butadiene has weakened and fallen, and the cost center of butadiene rubber has shifted downwards; In addition, the overall production of butadiene rubber in November fluctuated slightly around 70%; Downstream tires mainly require rigid support for butadiene rubber. Under the comprehensive influence, the price of butadiene rubber fluctuated and fell in November. As of November 28th, the mainstream prices for Qilu, Daqing, Sichuan, and Yangtze Shunding in East China were 10600-10800 yuan/ton.
In November, the price of butadiene fluctuated weakly and fell, dragging down the market for butadiene rubber on the cost side. According to the Commodity Market Analysis System of Shengyi Society, as of November 28th, the price of butadiene was 7016 yuan/ton, a decrease of 6.65% from 7516 yuan/ton at the beginning of the month.
The production of butadiene rubber in November fluctuated slightly, with an overall rate of around 70%.
Demand side: In November, the downstream semi steel tire production was stable in the early stage and slightly decreased in the later stage, providing strong support for the demand in the butadiene rubber market. As of November 22, the construction of semi steel tires by domestic tire companies has started at around 7.0%; The construction of all steel tires by tire enterprises in Shandong region is around 6.20%.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the abundant supply of raw material butadiene is mainly due to weak market conditions, with slight fluctuations in downstream tire production. Overall, it is expected that butadiene rubber will experience weak fluctuations in the later period.

According to the Commodity Market Analysis System of Shengyi Society, the domestic aggregated MDI market saw a gradual increase in November. From November 1st to 27th, the domestic market price of aggregated MDI increased from 14300 yuan/ton to 14533 yuan/ton, with a monthly price increase of 1.63% and a year-on-year price decrease of 19.93%.

In early November, the aggregated MDI market was consolidating and running, and the news side was relatively calm. Downstream entry into the market on demand creates a sluggish trading atmosphere. The shipment situation of traders is average, waiting for guidance from the message end, and operating cautiously.
In mid to late November, mainstream large factories have recently increased maintenance and tight supply expectations, leading to factory price increases. Shanghai factory aggregated MDI and implemented a price of 14600 yuan/ton for distribution channels, while fixed price customers implemented a price of 14800 yuan/ton. Traders’ confidence has increased, and prices have risen accordingly. There has been an increase in on-site inquiries, downstream purchases have been made on demand, and the transaction situation is average. At the end of the month, there was a slight decline in the market.
Supply side: Wanhua Ningbo will begin maintenance on November 15th, with an estimated maintenance period of about 55 days. BASF Chongqing plant and Covestro Shanghai plant both have maintenance plans for December. Huntsman’s 280000 ton/year MDI plant in the Netherlands unexpectedly shut down in late November and is expected to continue until around mid December.
On the cost side, the pure benzene market fluctuated at a low level in November. Overall supply remains loose; Downstream essential procurement is the main focus, with some loss making varieties reducing production to maintain prices, and overall demand support is limited. The aniline market remained strong and rose in November. On November 1st, the market price of aniline was 7995 yuan/ton, and on November 27th, the price was 8045 yuan/ton, an increase of 1.88% during the period.
On the demand side, the demand side is relatively stable, with downstream demand entering the market and purchasing on demand.
In the future forecast, the unexpected shutdown of Huntsman’s 280000 ton plant at the end of the month and the maintenance plan for Saudi Arabia’s 400000 ton inventory in January are expected to further tighten the supply side. It is expected that the aggregated MDI market will gain momentum in the short term.

According to the Commodity Market Analysis System of Shengyi Society, as of November 24, 2025, the reference price of n-butanol in Shandong Province, China is 5066 yuan/ton. Compared with November 1 (reference price of n-butanol is 5233 yuan/ton), the price has decreased by 167 yuan/ton, a decrease of 3.18%.

Poor fundamentals, Shandong n-butanol market continues to operate weakly in November
From the Commodity Market Analysis System of Shengyi Society, it can be seen that since November, the n-butanol market in Shandong Province, China has continued to decline, and the focus of n-butanol negotiations has been continuously decreasing. During the month, n-butanol factories and suppliers actively shipped goods to maintain low inventory, and market inquiries continued to hover at a low level. As of November 24th, the reference price for n-butanol in the domestic Shandong region is around 5050-5100 yuan/ton.
Analysis of Market Factors
On the supply side: This month, the overall supply of n-butanol in Shandong has been loose, with some factories and suppliers facing certain supply pressures. The market has a relaxed shipping pace, and the supply side has provided insufficient support for the n-butanol market.
On the demand side: In November, the downstream demand side of n-butanol provided overall support to the market. The overall production of n-butanol downstream has been reduced, and there is a lack of enthusiasm for purchasing raw materials. Downstream users mainly purchase at low prices, and inquiries and negotiations are cautious.
Market outlook
At present, the overall trading atmosphere of the n-butanol market in Shandong is relatively quiet, and the market lacks effective positive support. The mentality of industry players is average. The n-butanol data analyst from Shengyi Society predicts that in the short term, the n-butanol market in Shandong will mainly operate in a range, and specific changes in supply and demand information need to be closely monitored.

1、 Price trend

Taking the sulfuric acid method for producing pyrite type titanium dioxide, which has a large volume of goods in the domestic market, as an example. According to data monitoring by Business Society, the domestic titanium dioxide market has remained stable this week, with an average price of 13500 yuan/ton.
2、 Market analysis
The domestic titanium dioxide market is temporarily stable this week. At present, the demand for titanium dioxide is light, and downstream factories and traders have poor enthusiasm for purchasing, resulting in a relatively sluggish market trading atmosphere. Downstream markets are also observing the trend of next week’s exhibition, and overall, the titanium dioxide market is still relatively sluggish this week. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 12900-13900 yuan/ton; The price of the titanium type is around 12000-12500 yuan/ton, and the actual transaction price is negotiable.
3、 Future forecast
The titanium dioxide analyst from Shengyi Society believes that the titanium dioxide market is still relatively sluggish this week, with high inventory pressure on the market, high raw material costs, serious production inversion of enterprises, and a decrease in market operating rates. It is expected that titanium dioxide will operate weakly and steadily in the short term, and the actual transaction price will be negotiable.

According to the Commodity Market Analysis System of Shengyi Society, from November 10th to 14th (as of 15:00), the domestic methanol market in East China port quotations fell from 2058 yuan/ton to around 2034 yuan/ton, with a price drop of 1.17% during the cycle, a month on month drop of 10.16%, and a year-on-year drop of 17.82%. Under high import supply, port methanol inventory still accumulates, which continues to suppress the market, and the port methanol market mainly maintains a low-level oscillation operation.

As of the close on November 14th, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2103 yuan/ton, with a highest price of 2107 yuan/ton and a lowest price of 2054 yuan/ton. It closed at 2055 yuan/ton in the closing session, a decrease of 52 yuan or 2.47% from the previous trading day’s settlement. The trading volume is 1169485, the position is 1516796, and the daily increase is 133965.
On the cost side, domestic coal production continues to shrink, heating demand is released ahead of schedule, and coal prices are expected to remain strong, with strong cost support. The cost of methanol is influenced by favorable factors.
On the demand side, supported by the demand for olefin external procurement, the weak terminal demand has not fundamentally improved, and the incremental demand on the demand side is limited. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
On the supply side, it is currently estimated that the planned maintenance and reduction of methanol production facilities will decrease, while the number of recovery facilities will increase. Therefore, the overall market supply may increase. Negative factors affecting the methanol supply side.
In terms of external markets, as of the close on November 13th, CFR Southeast Asia methanol market closed at $321.5-322.5 per ton. The FOB US Gulf methanol market closed at 89.5-90.5 cents per gallon; The European FOB Rotterdam methanol market closed at 265.5-266.5 euros/ton.
In the future forecast, there will be significant market supply pressure, and port inventories will continue to accumulate. Although demand has slightly rebounded, the overall pattern of oversupply will strengthen, and the market will operate weakly. Business Society’s methanol analyst predicts that the domestic methanol spot market will continue to be weak.

According to the Commodity Market Analysis System of Shengyi Society, from November 3rd to 7th (as of 15:00), the domestic methanol market in East China port quotations fell from 2102 yuan/ton to around 2095 yuan/ton, with a price drop of 0.33% during the cycle, a month on month drop of 6.37%, and a year-on-year drop of 16.17%. The domestic methanol market continues to be weak, and the high inventory status of ports continues. Under high supply pressure, the methanol market in ports continues to decline. Mainland methanol continues to decline, the supply and demand pattern remains weak, the market has experienced a significant decline, and coupled with the continuous reversal of port supply, market sentiment has been significantly impacted.

As of the close on November 7th, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2122 yuan/ton, with a highest price of 2132 yuan/ton and a lowest price of 2106 yuan/ton. It closed at 2112 yuan/ton at the end of the trading day, a decrease of 4 yuan or 0.19% compared to the settlement of the previous trading day. The trading volume is 915796, the position is 1390819, and the daily increase is 22489.
On the cost side, coal destocking is evident, while winter storage is replenished, and there is still room for price increases, which strengthens the support on the cost side. The cost of methanol is influenced by favorable factors.
On the demand side, supported by the demand for olefin extraction, the overall demand for traditional downstream industries is expected to rebound, but the increment on the demand side is limited. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
On the supply side, the overall recovery exceeds the loss, resulting in an increase in capacity utilization. Negative factors affecting the methanol supply side.
In terms of external trading, as of the close on November 6th, CFR Southeast Asia methanol market closed at 322.5-323.5 US dollars per ton. The FOB US Gulf methanol market closed at 89.5-90.5 cents per gallon; The European FOB Rotterdam methanol market closed at 271.5-272.5 euros/ton.
In the future market forecast, high domestic supply, high port inventory, and downstream gas buying are expected to continue. Business Society’s methanol analysts predict that the domestic methanol spot market will be weak.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of soda ash slightly increased in October. At the beginning of the month, the average market price of light soda ash was 1182 yuan/ton, and at the end of the month, the average market price was around 1186 yuan/ton. The price increased by 4 yuan/ton during the month, an increase of 0.34%.
2、 Market analysis
According to the Commodity Analysis System of Shengyi Society, the soda ash market was in a consolidation and operation in October. On the supply side, the soda ash plant is operating at a high level, the market supply is sufficient, and there is significant pressure on enterprises to ship; On the demand side, the downstream has a wait-and-see attitude, and the glass inventory is slow, resulting in average actual consumption of soda ash. The fundamental situation continues to be strong in supply and weak in demand, and the market sentiment is bearish. However, due to the rise in coal prices and the pressure on soda ash costs, soda ash companies are mainly stabilizing prices this month.
As of October 31, 2025, the mainstream market price of light soda ash in East China is around 1100-1400 yuan/ton, which remains stable compared to the previous month; The mainstream price of light soda ash in Central China is around 1090-1200 yuan/ton, a decrease of 40-100 yuan compared to the previous period; The mainstream price of light soda ash in North China is around 1170-1270 yuan/ton, a decrease of 30 yuan/ton compared to the previous period.
On the demand side: According to the commodity analysis system of Shengyi Society, glass prices have significantly decreased this month, with the average glass market price dropping by 13.85 yuan/square meter from 15.60 yuan/square meter, resulting in an overall decline of 11.22%. The glass production line operates stably within the month, with little change in operating rate; The demand performance is sluggish, downstream procurement enthusiasm is not high, glass inventory continues to accumulate, enterprise shipments are not smooth, and the glass market is weak and declining.
Market forecast: Soda production capacity continues to grow, supply expectations are bearish, terminal market production is average, downstream demand is weak, and there is insufficient support for soda ash. There is significant pressure on enterprise shipments, and it is expected that soda ash prices will remain weak in November, depending on downstream follow-up.

According to the Commodity Market Analysis System of Shengyi Society, the xylene market will first decline and then rise in October 2025, with an overall downward trend. From October 1st to 31st, the domestic xylene market price fell from 5440 yuan/ton to 5330 yuan/ton, with a cumulative price drop of 2.02% during the period.

Early October: After the holiday, the domestic mixed xylene market fluctuated downward, and the demand for oil blending industry in Shandong region was weak. The ex factory prices of main refineries generally decreased slightly, and shipments were active. The inventory in the East China market is still low, but the market transaction situation is average. The prices of the main refineries in the South China region remained stable during the week, with a weak market performance and stable prices.
Late period: The mixed xylene market first fell and then rose, overall weakening. In the early stage, the demand for oil blending industry in Shandong region remained weak, and the ex factory prices of main refineries generally decreased slightly. The trend of the East China market is weak, and the quotes of the main refineries in the South China market first fell and then rose. At the end of the month, with the recovery of crude oil prices, the fundamentals of the xylene market have partially improved. The ex factory prices of main refineries in Shandong have generally increased slightly, and downstream purchasing intentions are still acceptable. Spot market prices have slightly rebounded.
On the cost side: According to the Commodity Market Analysis System of Shengyi Society, the crude oil market first fell and then rose in this cycle. The crude oil market was affected by negative factors in the first ten days. On the one hand, OPEC+has launched a new round of production increase of 1.65 million barrels per day, but the market is still concerned about the long-term risk of oversupply, and the crude oil market continues to decline; On the other hand, the easing of the situation between Israel and Palestine, coupled with weakened demand from the United States, has dragged down global economic and demand expectations due to US tariffs. In addition, the increase in US crude oil inventories has led to the end of the peak oil season in the United States, and the global economic outlook and oil demand are not optimistic, resulting in a rapid decline in international oil prices. After entering the second half of the year, OPEC+has launched a new round of production increase of 1.65 million barrels per day. The market is still concerned about the long-term risk of oversupply. The situation between Palestine and Israel has eased, and coupled with weakened demand from the United States, the issue of US tariffs has dragged down global economic and demand expectations, leading to a rapid decline in international oil prices; However, in the later stage, with the continuation of sanctions policies against some oil producing countries by Europe and the United States, coupled with reduced concerns about negative pressure caused by US tariffs and trade disputes, the crude oil market trend has risen. As of the 29th, the settlement price of the December WTI crude oil futures contract in the United States was $60.48 per barrel. The settlement price of Brent crude oil futures for the December contract is $64.92 per barrel.
Supply side:
Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of October 31st, East China Company quoted 5300 yuan/ton, North China Company quoted 5050-5250 yuan/ton, South China Company quoted 5500-5550 yuan/ton, and Central China Company quoted 5050-5250 yuan/ton.
Demand side:

According to the Commodity Market Analysis System of Shengyi Society, as of October 31, 2025, the execution price of xylene by Sinopec Sales Company was 6700 yuan/ton, and this price was implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other facilities operated stably and sold normally, with a price reduction of 100 yuan/ton compared to September 29. As of October 30th, the closing prices of the para xylene market in Asia were 792-794 US dollars/ton FOB Korea and 817-819 US dollars/ton CFR China, a decrease of 4 US dollars/ton from September 28th.
Market forecast: The crude oil market has slightly rebounded, boosting the mentality of the spot market. The supply side has not changed much recently, and its impact on the market is limited. The downstream market on the demand side has been mainly replenishing raw materials on demand recently, and spot market prices have slightly rebounded. Overall, the changes in supply and demand are limited, and it is expected that the xylene market will mainly fluctuate within a certain range.

1、 Price trend
According to data monitored by Shengyi Society, as of October 30th, the average price of domestic industrial grade high-quality cyclohexane was 7000 yuan/ton, with a weak performance compared to the same period last month and a narrow decline of 2.78% compared to the same period last month.
2、 Market analysis
Market wise: In October, the focus of cyclohexane market negotiations was narrow and weak, resulting in a slight decline in prices. Some companies stopped production due to equipment reasons and temporarily did not provide quotes. The overall market lacks upward momentum, and downstream demand purchases according to demand. Export volume has decreased, mainly to South Korea, Vietnam, and other places. The market sentiment is generally cautious and wait-and-see.
Upstream pure benzene: In October, the market price of pure benzene showed a continuous downward trend, mainly affected by weak supply and demand, lower crude oil prices, and weak downstream demand. Sinopec’s listed price was lowered: the pure benzene price of Sinopec’s East and South China refineries was executed at 7150 yuan/ton on October 29th, a decrease of 900 yuan/ton compared to the previous month; The prices of refineries in northern regions such as Qilu and Qingdao have been simultaneously lowered to 7050 yuan/ton, resulting in a decrease in cost side prices and a lack of support for cyclohexane.
On the demand side, the demand for cyclohexane in traditional industries such as synthetic fibers, coatings, and resins continues to grow, while emerging fields are expanding. The rise of industries such as new energy vehicles, environmentally friendly coatings, and high-performance materials further drives the demand for high-performance chemical raw materials (including cyclohexane). The global economic recovery and accelerated industrialization process have driven a significant increase in the demand for industrial cyclohexane.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that in the short term, the cyclohexane market will mainly experience narrow consolidation with stable prices. With the expansion of downstream application areas and the rapid development of emerging industries, the demand for cyclohexane is expected to maintain stable growth.

According to the Commodity Market Analysis System of Shengyi Society, the domestic adipic acid market continued to weaken in October, mainly oscillating and falling. On October 1st, the average price of adipic acid in the domestic market was 7383 yuan/ton. On October 27th, the average price of adipic acid in the domestic market was 6966 yuan/ton, a decrease of 3.24% in price.

Negative pressure on adipic acid market continues to bottom out in October
Since the National Day holiday, the prices of cyclohexanone and pure benzene raw materials for adipic acid have been weak and declining. The demand for terminal rigidity is sluggish, and the transaction volume in the adipic acid market is average. Manufacturers have lowered their ex factory prices one after another, and the adipic acid market continues to decline. As of October 14th, the price has fallen to 7033 yuan/ton, with a price drop of nearly 3%. The combination of negative factors has led to a continuous bottoming out of the adipic acid market.
In mid month, the supply of adipic acid remained loose, with limited support from raw materials, and the adipic acid market continued to decline. The mainstream market price in Shandong is around 7000 yuan/ton, while the mainstream market price in Jiangsu is 6800 yuan/ton. The average price in the domestic market has dropped to 7000 yuan/ton, a decrease of 200 yuan/ton, and the decline is approaching 3%.
At the end of the month, supply pressure continued, and the raw material market declined. The adipic acid market continued to operate weakly, and the downward trend slowed down slightly. The domestic market quotation for adipic acid continues to be around 6900 yuan/ton, with a decline of over 3%.
An analyst from Shengyi Society believes that as we enter November and end demand increases, the market for adipic acid may stop falling and rise in the future.

According to the Commodity Market Analysis System of Shengyi Society, from October 20th to 24th, the domestic aggregated MDI market first fell and then rose, with a slight overall decline. The average price at the beginning of the week was 14333 yuan/ton, and the average price at the end of the week was 14300 yuan/ton, a decrease of 0.23% during the cycle and a year-on-year decrease of 21.79%. The performance of the MDI aggregation market during the week was average, with mainstream manufacturers lowering prices and traders adjusting their quotes accordingly. Subsequently, the maintenance plan of major factories was announced, and the prices of traders tentatively increased, leading to an increase in inquiries and a slight improvement in the trading atmosphere.

On the supply side, the 200000 ton/year MDI in Jinhu, South Korea will undergo maintenance in early September, with a duration of 20-30 days. Ningbo has a maintenance plan in November, and the rest of the equipment is running smoothly.
On the cost side, the main port of pure benzene in East China maintains a pace of destocking, and the market sentiment is weak. Combined with weak downstream growth and intensified losses, coupled with insufficient new orders at the terminal, secondary downstream inventory remains high and difficult to reduce, resulting in significant resistance to price transmission. The pure benzene market continues to weaken and decline.
On the demand side, the downstream market is not prosperous during the peak season, and the market situation has not improved significantly. With weak fundamentals, the aggregated MDI market is difficult to pick up.
Future forecast: After a slight increase, the aggregated MDI market will return to a consolidation state, with weak demand and insufficient support from the news side. In the short term, the aggregated MDI market will maintain a weak trend

According to the commodity analysis system of Shengyi Society, since the National Day holiday, the market for hydrogen peroxide has heated up and prices have continued to rise. On October 1st, the average market price of hydrogen peroxide was 753 yuan/ton, and on October 20th, the average market price of hydrogen peroxide was 903 yuan/ton, with a price increase of 19.91%.

The supply of hydrogen peroxide is tight and the market continues to rise
During the National Day holiday, domestic hydrogen peroxide manufacturers conducted centralized maintenance, resulting in tight supply. The demand for terminal caprolactam and papermaking industries increased, and the hydrogen peroxide market continued to rise, with a rise of more than half a month and an increase of nearly 20%. The average price of hydrogen peroxide in the market has risen to around 900 yuan/ton. After mid October, the hydrogen peroxide market rose and gradually stabilized, continuing to operate at a high level with minimal market fluctuations.
The hydrogen peroxide analyst from Shengyi Society believes that by the end of October, the demand in the terminal printing and papermaking industry will support the tight supply of hydrogen peroxide, and the market will continue to operate at a high level in the future.

After the holiday, the domestic price of liquid ammonia mainly stopped rising and fell. According to the commodity market analysis system of Shengyi Society, the price of liquid ammonia in Shandong Province fell by 0.45% this week (10.13-17). The main reason is the stable amount of ammonia and the impact of rainy weather in the north, which has led to a continuous delay in agricultural demand and weak procurement from downstream factories. At present, the mainstream price of liquid ammonia in Shandong region is between 2180-2250 yuan/ton.

In terms of supply, the supply has remained reasonably balanced this week, with no decrease in liquid ammonia production in Shandong and Hebei regions, and an increase in ammonia conversion by some enterprises in Henan region. However, there are short-term maintenance of facilities in the northwest, Inner Mongolia, and Ningxia regions, resulting in reduced production and overall tight supply, with slight regional differentiation. From the beginning of the week to the middle of the week, some enterprises in Shandong region have made downward adjustments, but the magnitude is not significant. The price adjustment range of large factories in Shandong region is generally between 50-100 yuan, and the market shows a basic balance between supply and demand. However, enterprises still have expectations of resuming work in the later stage, and the supply may continue to increase in the later stage.
From the demand side, downstream demand has shown lukewarm performance, with compound fertilizer operating rates still at a low level and phosphorus fertilizer prices continuing to decline, resulting in relatively weak demand. Recently, the shipment volume of urea has been stable, and the price has slightly rebounded within the week. However, the price has not continued to rise near the weekend. According to the commodity analysis system, the weekly increase of urea is 0.64%. In addition, the domestic industrial demand is weak, and agricultural demand is mainly purchased on demand with sporadic restocking. The improvement in demand is not significant, and the market’s wait-and-see mentality still dominates.
Market forecast:
Business analysts believe that the supply and demand pressure in the liquid ammonia market is expected to continue next week. Although there may be a slight decline in production in some areas in the short term, it is difficult to establish an upward trend. The main reason is that agricultural demand has not shown any improvement at present. In addition, next week’s meeting may have a negative impact on transportation, and the ammonia market may not improve. The upward space is very limited.

According to the Commodity Market Analysis System of Shengyi Society, the overall TDI market in East China was weak and continued to decline in September. At the beginning of the month, the average TDI market price was 14700 yuan/ton. On September 29th, the TDI price was 13800 yuan/ton, a decrease of 6.12% during the month and a year-on-year increase of 5.75%.

The TDI market is not prosperous during the peak season in September, and it is difficult to change the weakness. At the beginning of the month, on-site trading was relatively quiet, and the supply of goods was relatively stable. Mainly driven by downstream demand, enter the market at low prices. Intermediary quotes follow the market trend, and the market lacks positive news to boost it. Under the guidance of buyers, the focus of TDI transactions continues to decline. In the middle of the month, there were frequent positive news from suppliers, with large northern factories offering a 20% discount on supply, resulting in tight supply. The guidance price for major factories in Shanghai has been raised to 14200 yuan/ton due to tight inventory. The news has boosted the confidence of industry players, and intermediary quotes have been raised. Downstream demand is dominant, with low enthusiasm for entering the market, accompanied by price increases, resulting in sluggish transactions. The market stabilized until the end of the month.
Supply side: The Yantai Wanhua TDI plant will be shut down for maintenance starting from August 19th, with an expected maintenance period of about 40 days.
Cost wise: The toluene market will experience a volatile decline in September 2025. From September 1st to 26th, the domestic toluene market price fell from 5420 yuan/ton to 5370 yuan/ton, with a price drop of 0.92% during the period. The downstream chemical and oil blending industry has a relatively stable demand, and procurement tends to be more rigid. The market trend is relatively stable, and the enthusiasm for downstream market entry is weak. The market lacks clear information guidance and there is little market volatility.
Market analysis shows that the TDI data analyst from Shengyi Society believes that the current decline in the TDI market is slowing down. As the end of the month approaches, close attention should be paid to the settlement prices of major companies. In the short term, the fundamentals are weak, and it is expected that the TDI market will experience narrow fluctuations in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic BDO market has fallen. From October 1st to 29th, BDO prices fell from 8400 yuan/ton to 7571 yuan/ton, with a price drop of 9.86% during the period and a year-on-year price drop of 7.34%.

The domestic BDO market continued to decline in September, mainly due to an increase in domestic BDO supply with average supply side support. Downstream demand has increased month on month, but supply and demand pressure still exists, which is bearish for the market mentality, and the overall market is weak and volatile.
Supply side: The supply of BDO industry has increased, but the supply side support is weak. The supply side of BDO is affected by negative factors.
On the cost side, raw material calcium carbide: There is still a narrow upward adjustment in the domestic calcium carbide market, with smooth shipments from production enterprises and tight supply. Recently, the market supply has recovered, and the early maintenance equipment has been gradually restored, and the production restrictions in Inner Mongolia have also been restored. Downstream procurement is active, and as the National Day holiday approaches, downstream stocking enthusiasm is high due to logistics pressure. Raw material methanol: The domestic methanol market continues to be weak. As of 10:00 am on September 29th, the reference price for domestic methanol in Taicang is 2260 yuan/ton. The rise in raw material calcium carbide market and the consolidation of methanol fluctuations have had a mixed impact on BDO costs.
On the demand side, the main downstream production of PTMEG, PBAT, TPU, etc. has increased, resulting in an increase in raw material digestion. The demand for BDO is expected to be influenced by favorable factors.
In the future market forecast, both supply and demand will increase, and BDO analysts from Shengyi Society predict that the domestic BDO market will mainly consolidate.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the market price of isopropanol first rose and then fell in September, with a slight upward adjustment according to the consolidation. On September 1st, the average price of isopropanol in China was 5608.33 yuan/ton, and on September 28th, the average price was 5633.33 yuan/ton, an increase of 0.45% compared to the beginning of the month.
The market price of isopropanol first rose and then fell in September. In the first half of the month, the atmosphere of on-site trading gradually improved, and manufacturers showed a clear intention to raise prices. Holders of goods followed suit and raised prices. In the second half of the month, the demand for isopropanol in the market is mainly due to strong demand, and the downstream purchasing atmosphere is weak. Some high-end quotations have loosened, and the price focus is biased towards the low-end. As of now, most of the isopropanol market prices in Shandong are around 5450-5550 yuan/ton; The majority of isopropanol market prices in Jiangsu region are around 5650-5700 yuan/ton.
In terms of raw material acetone, the domestic acetone market fluctuated and fell in September. On September 1st, the average price of acetone was 4520 yuan/ton, and on September 28th, the average price was 4435 yuan/ton, with a price reduction of 1.88%. At present, the acetone market is at a low level, with little change in the supply side and a slight increase in demand. The spot price remains in a range of fluctuations.
In terms of raw material propylene, the domestic propylene market fluctuated and fell in September. On September 1st, the market average was 6643.25 yuan/ton, and on August 29th, the average price was 6623.25 yuan/ton, with a price reduction of 0.3%. At present, it is expected that the supply and inventory in the market will increase, downstream purchases will be made at a lower price according to demand, and both trading parties will be cautious in observing the market, with market fluctuations and consolidation being the main focus.
3、 Future forecast
The isopropanol analyst from the Chemical Branch of Shengyi Society believes that the market price of isopropanol rose first and then fell in September, with a slight upward adjustment in consolidation. At present, the trading atmosphere in the isopropanol market is weak, and actual orders are cautious, making it difficult to release trading volume. It is expected that isopropanol will experience slight fluctuations and consolidation in the short term, with a focus on the trend of the raw material market.

According to the Commodity Market Analysis System of Shengyi Society, from September 19th to 26th, the domestic BDO price fell to 7522 yuan/ton, with a price decline of 0.27% during the period, a month on month decline of 1.20%, and a year-on-year increase of 0.88%. Some of the early load reduction devices are operating at a reduced capacity, and new production capacity is producing high-quality products, resulting in an increase in supply. Operators are cautiously bearish and bargaining. The industry has been suffering long-term losses, and the supply side has a stable market mentality. The supply and demand negotiations are in a tug of war, and the market is deadlocked.

Supply side, BDO supply side is expected to be affected by favorable factors.
On the cost side, raw material calcium carbide: The domestic calcium carbide market has seen a narrow upward trend, with smooth shipments from production enterprises and tight supply of goods. Recently, the market supply has recovered, and the early maintenance equipment has been gradually restored, and the production restrictions in Inner Mongolia have also been restored. Raw material methanol: The domestic methanol market continues to be weak. As of 10:00 am on September 26th, the reference price for domestic methanol in Taicang is 2250 yuan/ton. The raw material calcium carbide has seen an upward trend, while methanol has been weakly consolidated, and the impact on BDO costs is mixed.
On the demand side, downstream terminals continue to follow up on essential contracts or digest inventory before the National Day holiday. Most downstream industries are losing profits and are resistant to high raw material prices, resulting in weak intentions to purchase spot goods. The demand side of BDO is affected by bearish factors.
Market forecast: We are about to enter the National Day holiday, and downstream stocking has basically ended, with few actual transactions. The pre maintenance equipment has been restarted, resulting in an increase in BDO supply. The downstream PTMEG industry has seen an increase in production, leading to an increase in raw material digestion. The supply and demand in the BDO market have increased, and the negotiation game continues. BDO analysts from Business Society predict that market volatility may be limited.

According to the Commodity Market Analysis System of Shengyi Society, there was little fluctuation in the toluene market from September 15 to September 22, 2025. On September 15th, the benchmark price of toluene was 5360 yuan/ton, and on September 22nd, the benchmark price of toluene was 5380 yuan/ton, an increase of 0.37%. The domestic toluene market has limited fluctuations in this cycle. There has been no significant change in the supply and demand situation in the Shandong region, with downstream chemical and oil blending industries showing relatively stable demand, and procurement focusing on rigid needs. The trend of the East China market is relatively stable, and the enthusiasm for downstream market entry is weak. The South China market lacks clear information guidance and the market volatility is not significant. Overall, the toluene market has experienced limited volatility this week.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of September 19th, the settlement price of the November WTI crude oil futures contract in the United States was $62.40 per barrel. The settlement price of Brent crude oil futures for the December contract is $66.04 per barrel.

Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of September 22nd, East China Company quoted 5350 yuan/ton, North China Company quoted 5300 yuan/ton, South China Company quoted 5300-5400 yuan/ton, and Central China Company quoted 5450 yuan/ton.
Demand side:
On September 22nd, the price of xylene at Sinopec Sales Company remained stable, with a current price of 7200 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Units such as Yangzi Petrochemical and Zhenhai Petrochemical are operating stably and sales are normal. As of September 19th, the closing prices of the xylene market in Asia were 791-793 US dollars/ton FOB Korea and 816-818 US dollars/ton CFR China.
Market forecast: The recent fluctuations in the crude oil market are relatively small, with limited impact on the spot market, and the macro outlook is relatively stable. From the perspective of supply and demand, the export volume of Shandong region has decreased recently, mainly for personal use, with limited impact on the market. There is a certain demand for pre holiday stocking on the downstream side of the demand side, with a focus on replenishing inventory as needed. Overall, the news on toluene has been relatively flat recently, and it is expected that the market trend will remain stable with limited volatility in the short term.

This week (9.15-19), domestic liquid ammonia prices rebounded. According to the Commodity Market Analysis System of Shengyi Society, the weekly increase in liquid ammonia prices in Shandong region was 1.60%. The main reason is that in the context of stable downstream demand, local emissions have decreased, and supply pressure has slightly eased. At present, the mainstream price of liquid ammonia in Shandong region is between 2200-2350 yuan/ton.

In terms of supply, this week the supply has been basically stable, with some devices undergoing maintenance. Production in Shandong, Henan, Northwest and other places has slightly decreased, and the supply has slightly decreased. During weekdays and weekends, some companies have engaged in price adjustments, with large factories in Shandong generally adjusting prices within the range of 100 yuan. The market shows a basic balance between supply and demand, and considering the short-term resumption of work expectations of faulty ammonia companies, the supply may continue to increase in the later period.
From the demand side, there is not much improvement in downstream demand, with the operating rate of compound fertilizers still at a low level. However, urea shipments have increased recently, and prices have slightly rebounded in the middle of the week. After the price rise, the market generally cooled down, and prices generally fell back to the beginning of the week near the weekend, mainly due to insufficient sustained demand in the later stage. According to the commodity analysis system, the weekly decline in urea was 0.22%. In addition, the domestic industrial demand is weak, and agricultural demand is mainly purchased on demand with sporadic restocking. The improvement in demand is not significant, and the market’s wait-and-see mentality still dominates.
Market forecast:
Business analysts believe that the slight increase in liquid ammonia this week is mainly due to favorable conditions on the supply side, as well as expectations for the resumption of maintenance and repair of equipment in the near future, which may gradually increase supply pressure in the later period. In addition, there are not many favorable conditions on the demand side, and there may be a possibility of a decline in the ammonia market.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda from the beginning of the week to the weekend was 1248 yuan/ton, a decrease of 27.61% compared to the same period last year. On September 11th, the Business Society Baking Soda Index was 82.83, unchanged from yesterday and hitting a historic low for the cycle, a decrease of 64.88% from the highest point of 235.84 on November 10, 2021. (Note: Cycle refers to September 1, 2020 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of baking soda is running steadily, and the company’s shipments are still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1270 yuan/ton in Henan region and 1200-1300 yuan/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage. Upstream: According to the commodity analysis system of Shengyi Society, the price of soda ash has been consolidating this week. The average market price from the beginning of the week to the end of the week is currently 1186 yuan/ton, a decrease of 31.68% compared to the same period last year. Downstream buyers tend to purchase on demand.
Business Society analysts believe that the price of baking soda has been consolidating recently, and the upstream raw material soda ash has also been consolidating recently. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, and demand enthusiasm for baking soda is still acceptable. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.

According to the Commodity Market Analysis System of Shengyi Society, from September 1st to 5th, the domestic ethanol price fell to 5563 yuan/ton, with a price drop of 0.29% during the period, a month on month drop of 1.71%, and a year-on-year drop of 6.41%. Multiple negative factors have suppressed the domestic ethanol market prices, with significant declines in the Northeast region.

On the cost side, the price of raw material corn has shown a regional continuous weakening trend, which has a significant negative impact on the production cost of ethanol. The cost of ethanol is influenced by bearish factors.
On the supply side, with the resumption of early parking and maintenance equipment production in the Northeast region, the overall market supply has increased. The impact of ethanol supply is mixed.
On the demand side, the demand side presents a differentiation pattern: the chemical downstream industry has recently seen production reduction or delayed commencement, while the demand of the Baijiu industry has maintained a moderate growth trend. In addition, due to logistics control measures in some regions, the efficiency of product transportation and delivery is limited to a certain extent. Negative factors affecting ethanol demand.
The future forecast shows that the supply side continues to increase, but there is no significant improvement in demand. The ethanol analyst from Shengyi Society predicts that the short-term ethanol market will continue to operate weakly.

According to the Commodity Market Analysis System of Shengyi Society, as of August 31st, the average production price of ethyl acetate was 5380.00 yuan/ton, a decrease of 66.67 yuan/ton compared to the beginning of the month price of 5446.67 yuan/ton, with an overall decline of 1.22%. Due to the sustained weak downstream demand, slow market consumption, significant supply side pressure, weak mentality of industry players, and ongoing supply-demand contradictions, the price of ethyl acetate has been weakly declining.

Market analysis: This month, the ethyl acetate market has fluctuated downward. At the beginning of the month, raw material prices fell and downstream demand was weak. Affected by bearish sentiment, the price of ethyl acetate weakened. Although some export orders supported the slight increase in ethyl ester prices, the overall follow-up of the demand side was insufficient, and downstream support was limited. The ethyl ester market continued to operate weakly. In the latter half of the month, the Henan plant was shut down, and market supply expectations decreased. Some manufacturers’ quotations rose, but due to the lack of improvement in demand, the price at the end of the month was lowered again.
According to the Business Society Acetic Acid Commodity Market Analysis System, as of August 31st, the price was 2420.00 yuan/ton, an increase of 0.83% compared to the acetic acid price of 2400.00 yuan/ton at the beginning of the month. The price trend of acetic acid first fell and then rose, and the cost pressure of ethyl acetate increased. Downstream entry into the market was mainly based on demand, and the utilization rate of acetic acid production capacity on the supply side decreased. The market sentiment was optimistic, and the price of acetic acid tended to be strong and rise.
Looking at the future, the utilization rate of ethyl acetate production capacity has slightly decreased recently, with some support from the supply side. Downstream customers are following up on demand, and market transactions are flat. With the arrival of the traditional peak season, the market may improve. It is expected that the ethyl acetate market will fluctuate and consolidate in September, with a slight increase in prices. Specific attention should be paid to changes in supplier equipment and downstream follow-up.

Isooctanol prices fluctuated and fell in August

According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the price of isooctanol was 7283.33 yuan/ton, a fluctuating decrease of 3.32% compared to the price of 7533.33 yuan/ton on August 1st. In August, the production capacity of isooctanol enterprises increased, and the operating rate of isooctanol equipment increased from less than 80% in July to 95% at the end of August. In addition, with the addition of new production capacity of isooctanol, the supply of isooctanol has increased; Downstream plasticizer companies started operating at a high level of consolidation, and demand for isooctanol from plasticizers rebounded. With increased supply and demand, the price of isooctanol fluctuated and fell in August.
Downstream plasticizer DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the DOP price was 7617.50 yuan/ton, a fluctuating decrease of 4.25% compared to the DOP price of 7955.83 yuan/ton on August 1st. In August, DOP prices fluctuated and fell, and the downward pressure on raw material isooctanol prices increased; In August, the operating load of DOP enterprises remained high and consolidated, with an increase in DOP production and a rebound in demand for isooctanol. The support for the rise in isooctanol prices still exists.
Future expectations
According to the data analyst of Business Society’s octanol product, on the supply side, the equipment production of isooctanol enterprises has increased, coupled with the new production capacity of isooctanol, resulting in a significant increase in the supply of isooctanol. In terms of demand, the price of DOP has fluctuated and fallen, and the downward pressure on the price of isooctanol has increased. In the future, the supply and demand of isooctanol will increase, and it is expected that the price of isooctanol will remain weak and consolidate.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the month was 12833 yuan/ton, and at the end of the month, the price of activated carbon was 12866/ton, with a price increase of 0.26%.

Domestic manufacturers’ quotations for activated carbon have risen first and then fallen this month, showing an overall upward trend. The ex factory price of coconut shell activated carbon (iodine value 1000) for water purification ranges from 10000 to 13500 yuan/ton. The demand for coconut shell activated carbon in traditional fields such as water treatment and air purification continues to grow, and high prices limit the enthusiasm for transactions. The focus is on market transactions.
Internationally, the import volume of fruit shell charcoal (mainly coconut shells) in July 2025 was 11092.3 tons, a decrease of 3% month on month and 31% year-on-year. China’s “dual carbon” strategy requires activated carbon enterprises to use high fixed carbon raw materials (≥ 70%), while low-quality carbonization materials in Vietnam are gradually being phased out due to their inability to meet carbon emission accounting needs. Import demand is concentrated in high-quality source countries such as Indonesia and the Philippines.
Prediction: The domestic supply of activated carbon raw materials is tight, and there is limited room for price increases. It is expected that the price of activated carbon will mainly fluctuate and strengthen in the short term.

Analysis: This week (8.18-22), the liquid ammonia market in Shandong region was sluggish, with prices continuing the downward trend from last week and the decline slowing down compared to last week. According to the Commodity Market Analysis System of Shengyi Society, the main production area of Shandong experienced a weekly decline of 0.72%. The main reason is that the supply pressure is difficult to alleviate, and the market inventory is too high. The maintenance equipment is partially in operation, and the supply side is loose. In addition, many manufacturers have increased their ammonia conversion capacity, and the accumulation of liquid ammonia continues to put pressure on the manufacturers. Manufacturers’ prices have gradually loosened during the week, and as the weekend approaches, the overall decline in prices for major factories in Shandong is around 100 yuan. Distributors mainly underreport shipments. And downstream procurement enthusiasm is not high, agricultural demand is still in the off-season, industrial demand remains rigid, and the overall demand side is bearish. At present, the mainstream quotation in Shandong region is 2250-2400 yuan/ton.

Prediction: In the near future, the operating rate of compound fertilizers downstream of liquid ammonia is relatively low, and the recovery of phosphate fertilizer operation is limited, further limiting the demand for liquid ammonia. Mainly follow up on agricultural and industrial demand. There will be little change in future supply, with manufacturers starting and stopping production, and the main focus will be on maintaining a balanced supply of ammonia. It is expected that liquid ammonia will continue to maintain a weak and volatile market.

According to the Commodity Market Analysis System of Shengyi Society, from August 15th to 22nd (as of 15:00), the domestic methanol market in East China port quotations fell from 2330 yuan/ton to around 2295 yuan/ton, with a price drop of 1.47% during the period, a month on month drop of 6.29%, and a year-on-year drop of 7.49%. The recovery of domestic methanol facilities has led to a slight lack of support in the mainland market, resulting in poor purchasing power at high prices.

As of the close on August 22nd, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2421 yuan/ton, with a highest price of 2425 yuan/ton and a lowest price of 2398 yuan/ton. It closed at 2405 yuan/ton in the closing session, a decrease of 14 yuan or 0.58% from the previous trading day’s settlement. The trading volume is 377483 lots, with a position of 698146 and a daily increase of 17912.
On the cost side, the digestion speed of raw coal inventory has slowed down, demand expectations are currently unclear, market prices are strong, and cost support is strong. The cost of methanol is influenced by favorable factors.
On the demand side, glacial acetic acid: The market for glacial acetic acid is experiencing a partial upward trend. Formaldehyde: Market segmentation of formaldehyde. Raw material methanol continues to weaken, with inadequate cost support. Dimethyl ether: The dimethyl ether market continues to remain stable. Due to the reduction of downstream types, market demand is difficult to have strong support. Most downstream products are affected by methanol prices, and the impact on methanol demand is mixed.
On the supply side, the overall recovery exceeds the loss, resulting in an increase in capacity utilization. Negative factors affecting the methanol supply side.
In terms of external markets, as of the close of August 21st, the CFR Southeast Asian methanol market closed at $321.5-322.5 per ton. FOB US Gulf methanol market closing price of 95-96 cents/gallon; The closing price of the European FOB Rotterdam methanol market is 283.5-284.5 euros/ton, up 8 euros/ton.
In the future, the market is expected to see an improvement in transactions supported by external olefin procurement, but the sustainability of demand remains to be observed, and the short-term trend may maintain a volatile consolidation pattern. The methanol analyst from Shengyi Society predicts that the domestic methanol spot market will mainly consolidate.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of August 18th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6700 yuan/ton, which is 0.15% lower than the reference average price of 6710 yuan/ton on August 11th.

2、 Market analysis
Market Aspects
This week, the domestic phosphoric acid market prices have slightly declined. As of August 18th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6400-6850 yuan/ton, in Yunnan region it is around 6500 yuan/ton, and in Sichuan region it is around 6400-6800 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6500-7450 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. This week, the market price of raw material yellow phosphorus first fell and then rose, with an overall price reduction. At present, there is no pressure on inventory in the yellow phosphorus market, and manufacturers are mainly pushing prices. Downstream urgent need for replenishment, purchase at lower prices. Expected short-term yellow phosphorus market price consolidation and operation.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been stabilizing recently. After the rise in the price of raw material yellow phosphorus, it has been consolidated and operated, but cost support still exists. The trading atmosphere in the phosphoric acid market is light, and downstream demand replenishment is needed. It is expected that the short-term domestic phosphoric acid market will mainly experience consolidation and operation.

This week, the phthalic anhydride market fluctuated and fell

According to the Commodity Market Analysis System of Shengyi Society, as of August 15th, the price of phthalic anhydride in neighboring countries was 6300 yuan/ton, a fluctuating decrease of 3.82% compared to the price of 6550 yuan/ton on August 8th. This week, the prices of neighboring benzene fluctuated and fell, the prices of industrial naphthalene fluctuated and fell, the cost of phthalic anhydride decreased, and the downward pressure on phthalic anhydride increased. The equipment load of phthalic anhydride decreased this week, and the operating rate of phthalic anhydride enterprises slightly decreased by 3%. The supply of phthalic anhydride decreased, and the downstream plasticizer market fluctuated and fell. The equipment operating load of plasticizer enterprises increased, and the demand support for phthalic anhydride increased. Supply has decreased and demand has rebounded, coupled with cost reduction, resulting in a volatile decline in phthalic anhydride prices this week.
The cost of phthalic anhydride has decreased, and the supply is sufficient
As of August 15th, Sinopec’s ortho benzene quotation was 6400 yuan/ton, a fluctuating decrease of 3.03% compared to last weekend’s ortho benzene quotation of 6600 yuan/ton. The price of industrial naphthalene fluctuated and fell, the price of ortho benzene fell, the cost of phthalic anhydride decreased, the pressure of phthalic anhydride decline increased, and the price of phthalic anhydride fell. The price of naphthalene phthalic anhydride was 6100-6200 yuan/ton, and the price of ortho phthalic anhydride was 6200-6400 yuan/ton. In August, the operating load of phthalic anhydride equipment decreased, and the operating rate of phthalic anhydride enterprises dropped to 60%, resulting in a reduction in phthalic anhydride supply.
Demand side: Downstream production decreases, DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of August 15th, the DOP price was 7759.16 yuan/ton, a fluctuating decrease of 0.96% compared to the DOP price of 7834.16 yuan/ton on August 8th. This week, many of the shutdown devices of DOP enterprises have returned to normal, and the operating load of DOP enterprises has remained stable at a high level. This week, DOP starts at a high level, plasticizer production is sufficient, demand for phthalic anhydride is recovering, and the support for phthalic anhydride price increases is increasing.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies are operating steadily at a high level, plasticizer production is increasing, and demand for phthalic anhydride is recovering; On the supply side, the equipment operating load of phthalic anhydride enterprises has decreased, resulting in a reduction in phthalic anhydride supply. In terms of cost, the price of ortho benzene has decreased, and the cost of phthalic anhydride has decreased. In the future, as the supply of phthalic anhydride decreases and demand recovers, coupled with a decrease in costs, it is expected that the price of phthalic anhydride will fluctuate and fall in the future.

The domestic acetone market experienced a narrow decline. The East China acetone market reported an average daily price of 4820 yuan/ton from August 1st to 4730 yuan/ton on August 8th, a decrease of 1.87%. From the perspective of the national acetone market, there are fluctuations of the same magnitude.

The domestic acetone market has experienced a narrow decline, with Sinopec companies lowering their listing prices within the week. East China Company has implemented a price of 4800 yuan/ton, and the operating rate of domestic phenol ketone factories has increased to 75%. Shipping pressure has also increased, and the market is showing a downward trend. The actual trading volume release is limited, and there is insufficient trading. As of now, the cargo volume of acetone in East China in August is 38000 tons, reaching 16000 tons.
The acetone offers in major mainstream markets across the country on August 8th are as follows:
Region. Quotation on August 8th /8.1-8
East China region / 4710./ -100
Shandong region / 4770./ -200
Yanshan region / 4820./ -120
South China region / 4850./ -120

From a business perspective, it is expected that acetone may experience a slight increase next week. From the supply side, there has been little change in domestic equipment, and imported resources have been gradually replenished, while port inventory remains high. From the perspective of demand, downstream bisphenol A and isopropanol units have seen some improvement, while MIBK has not fluctuated significantly. However, overall procurement is still mainly based on demand, but with the passing of high temperature weather, the overall demand for solvent products will improve. From a cost perspective, the pure benzene market is operating relatively strongly. At present, the acetone market is at a low level, and it is expected that the acetone market will remain stable or have a narrow upward trend next week.

The price of ethylene glycol first rose and then fell in July
In July, the price of ethylene glycol first rose and then fell, showing an inverted “V” trend. In the early stage, influenced by anti involution sentiment, the price of bulk commodities showed an upward trend, and the price of ethylene glycol steadily rose. This week, coal prices have fallen, and ethylene glycol prices have slightly decreased.
Negative factors of ethylene glycol in August
1. The Saudi installation has been restarted, and concerns about overseas supply have subsided. Although the current arrival and import data are relatively low during the same period, the turning point is approaching, and import arrivals will gradually rebound;
2. There has been a slight increase in the negative load of ethylene glycol plants both domestically and internationally, with strong expectations for a rebound in supply;
3. The traditional off-season for domestic demand (terminal demand) is from July to August, and the demand expectation for ethylene glycol is weak during the consumption off-season;
Positive factors for ethylene glycol in August
1. Short term MEG inventory is low, although there is an expectation of accumulated inventory, the overall situation from July to September is still at a low level and the supply and demand are relatively balanced;
Although the overall anti involution sentiment of the product has been interrupted recently, the trend atmosphere is still present.
Future expectations
Overall, it is expected that the price of ethylene glycol will experience weak fluctuations in August.

1、 Price trend

According to monitoring data from Shengyi Society, the price of baking soda has been weak this month, with an average market price of 1272 yuan/ton at the beginning of the month and around 1257 yuan/ton at the end of the month, a decrease of 1.49% and a year-on-year decrease of 41.28%. On July 30th, the Business Society Baking Soda Index was 83.16, unchanged from yesterday and hitting a historic low within the cycle, a decrease of 64.74% from the highest point of 235.84 on November 10, 2021. (Note: Cycle refers to September 1, 2020 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of baking soda is running weakly, and the company’s shipments are still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1270 yuan/ton in Henan region and 1300-1400 yuan/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage. Raw materials: According to monitoring data from Business Society, the overall price of soda ash rose in July. The average market price of light soda ash at the beginning of the month was 1258 yuan/ton, and the average market price at the end of the month was around 1302 yuan/ton, with a price increase of 3.5%, which is 34.48% higher than the same period last year.
Business analysts believe that the price of baking soda has been weak in recent times, with the upstream raw material soda ash showing overall strong performance in July. However, downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that baking soda prices will mainly fluctuate in the later period, depending on downstream market demand.

1、 Price trend

According to data monitored by Shengyi Society, as of July 30th, the average price of domestic industrial grade high-quality cyclohexane was 7266 yuan/ton. In July, cyclohexane prices were running narrowly and weakly, with a price increase of 0.46% compared to the same period last month. Currently, cyclohexane holders have firm quotations, and the atmosphere of on-site negotiations is still acceptable. The trading market follows the market trend, and downstream markets mainly purchase according to demand.
2、 Market analysis
In terms of the market, the cyclohexane market operated narrowly and weakly in July, with a small range of price fluctuations. Currently, the focus of negotiations in the domestic cyclohexane market is stable, and the operation of equipment is normal, with sufficient spot supply and downstream essential procurement as the main focus. The positive support from the supply side is not obvious, and the internal state of the market is stable, with cautious operations and a wait-and-see attitude. The overall market negotiation focus is stable, with no pressure on factory shipments and considerable profits. The overall market is moving upward.
Upstream: In July, the pure benzene market operated steadily, with prices in Shandong ranging from 5800 to 5900 yuan/ton. The market negotiations were focused on a high level, and the market sentiment was positive. Overall prices increased more or decreased less. Currently, downstream demand is still acceptable, shipments are smooth, and the market supply is sufficient without pressure. It is expected to maintain a strong trend in the short term, with limited price fluctuations.
Downstream: As of July 30th, the low price of cyclohexanone in the East China market has decreased, and downstream demand is average. The market has a narrow upward trend, with a reference price of 7400 yuan/ton in the East China market. The production of equipment is normal, and the supply in Inner Mongolia has decreased, with limited room for increase. The domestic cyclohexanone price reference is around 7400 yuan/ton. The overall market purchasing enthusiasm is not good, and the sentiment is low. The cyclohexanone in the South China market is consolidating and operating, and downstream purchases are made according to demand. The market spot supply is stable.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the current demand for cyclohexane in the market is average, and there is a lack of upstream support. It is expected that the cyclohexane market will remain stable in the short term.

According to the Commodity Market Analysis System of Shengyi Society, since mid July, there has been a combination of long and short positions, and the soybean meal market has risen before falling back. On July 15th, the average market price of soybean meal was 2924 yuan/ton, and on July 25th, the average market price of soybean meal was 2964 yuan/ton, with a price increase of 1.37%.

Long Short Game: The domestic soybean meal market rises and then falls back
Since mid July, due to a decrease in the planting area of US soybeans in foreign markets and a decline in production estimates, there has been some support for the domestic soybean meal futures market. The futures market has risen, and the soybean meal spot market has experienced a wave of gains. Due to weak demand for terminal aquaculture and poor transaction volume in the soybean meal market, the market has gradually declined after rising, with prices mainly fluctuating and rising. The adjustment range is 50 yuan/ton, and the market average price is still around 2900 yuan/ton.
The soybean meal analyst from Shengyi Society believes that in August, the quantity of imported soybeans will continue to increase, the operating rate of soybean oil plants will improve, and the terminal demand will be sluggish. The upward space for soybean meal market in the future is limited.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price trend of soda ash first fell and then rose this week. As of July 21, the average market price of soda ash was 1166 yuan/ton, a decrease of 8 yuan/ton compared to the soda ash price of 1174 yuan/ton on July 14, a decrease of 0.68%.
2、 Market analysis
The soda ash market has been fluctuating recently. In the early stage, due to the recovery of some maintenance devices on the supply side, market supply increased, and business confidence was insufficient. In addition, downstream production decreased, resulting in weak demand for soda ash and a weak downward shift in the focus of soda ash transactions; The guidance of later policy messages has driven the main futures contracts to fluctuate upwards, while downstream purchases have increased. Driven by market sentiment, the price of soda ash has slightly rebounded. On July 21st, the price of light soda ash in East China was raised by 20 yuan/ton, with a price range of 1100-1200 yuan/ton; Light soda ash in Central China has been raised by 40 yuan/ton, with a price range of 1140-1250 yuan/ton.
According to the price monitoring of Shengyi Society, in the 28th week of 2025 (7.14-7.18), there were 1 commodity that rose, 3 commodities that fell, and 2 commodities with zero rise and fall in the chlor alkali industry price list. The main commodities that have risen are: caustic soda (0.23%); The main commodities experiencing a decline are: light soda ash (-1.36%), baking soda (-1.29%), and PVC (-0.17%). The average increase or decrease this week is -0.43%.
According to the commodity analysis system of Shengyi Society, the downstream glass market has slightly increased. From July 14th to 21st, the price of glass increased from 14.10 yuan/square meter to 14.68 yuan/square meter, an increase of 4.11%. Some production lines in the glass market are still undergoing cold repairs, and the overall operating rate has not changed much. However, downstream demand has increased, and glass inventory has been significantly reduced, resulting in a strong upward trend in price.
Future forecast: Currently, the price trend of soda ash is rising, and the mentality of industry players is quite high. With the boost of policy news, downstream demand has also improved, but the overall supply and demand are still weak, which may have a certain degree of suppression on the increase of soda ash prices. It is expected that the soda ash market will fluctuate in the later stage, and prices may rise slightly. Please pay attention to downstream demand for follow-up.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of caustic soda has risen this week. The average market price at the beginning of the week was 861 yuan/ton, and the average market price over the weekend was 863 yuan/ton, with a price increase of 0.23% and a year-on-year increase of 5.5%. On July 17th, the Business Social Chemical Index was 770 points, a decrease of 1 point from yesterday, a decrease of 45.00% from the highest point of 1400 points during the cycle (October 23, 2021), and an increase of 28.76% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to the period from December 1, 2011 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of caustic soda has remained strong this week. The price of caustic soda in Shandong region is around 810-900 yuan/ton in the mainstream market of 32% ion-exchange membrane alkali. The price of caustic soda in Jiangsu region is stable, with a mainstream market price of 870-930 yuan/ton in 32% ion-exchange membrane alkali. The price of caustic soda in Inner Mongolia region is stable, with a mainstream market price of 2700-2800 yuan/ton (converted to 100%) in 32% ion-exchange membrane alkali. From the perspective of Shandong region, the market supply has decreased compared to the previous period, but alumina is mostly purchased on demand, while non aluminum receiving is mainly purchased on demand.
Business Society analysts believe that in recent times, caustic soda prices have been operating strongly. Domestic downstream demand has been average, and caustic soda prices have remained stable. However, downstream demand is expected to increase as equipment maintenance gradually recovers and market supply increases. As prices rise, the downstream market is resistant to the comprehensive forecast of caustic soda maintaining a stable operation in the later stage. The specific situation depends on downstream market demand.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on July 11th was 1233 yuan/ton, an increase of 2.78% compared to the average price of 1200 yuan/ton on July 7th.
2、 Market analysis
Supply and demand situation
This week, the domestic ammonium sulfate market prices have shown a strong upward trend. The operating rate of ammonium sulfate enterprises has remained stable this week. At present, the supply of ammonium sulfate in the market is stable, with manufacturers offering high prices and downstream suppliers replenishing as needed, creating a good trading atmosphere. The rise in international urea prices is favorable for the ammonium sulfate market, driving up the price of ammonium sulfate.
market conditions
As of July 11th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 1145 yuan/ton. The mainstream ex factory quotation for domestic grade ammonium sulfate in Shandong region is around 1180-1240 yuan/ton.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the recent trend of the ammonium sulfate market has been dominant. At present, the trading of ammonium sulfate market is stable, and the printing price exceeds expectations. The optimistic attitude of the nitrogen fertilizer market has increased. It is expected that the domestic ammonium sulfate market price will be relatively strong in the short term and will continue to consolidate and operate.

Price trend (7.1-7.7)

At the beginning of the week, market news showed that due to equipment failures and maintenance by some companies, the supply in the Shandong market was tight, inventory was not under pressure, and enterprise offers were stable. The dichloromethane market slightly increased, but downstream demand did not improve. Coupled with the previous equipment load reduction and enterprise load increase, supply and demand were deadlocked, and the market remained stable with an upward trend. According to the monitoring of the commodity market analysis system of Shengyi Society, as of July 7th, the average price of dichloromethane dispersed water in Shandong Province was 2217 yuan/ton, with a weekly increase of 5.09% and a year-on-year decrease of 8.77%.
analysis of influencing factors
Supply side: favorable support for device shutdown and load reduction
Device dynamics: The overall industry production has fallen to around 80%, and supply is becoming tight. According to market news, the overall low load operation is currently providing support for the market
Inventory pressure: low-priced enterprises had better destocking at the end of last month, coupled with a decrease in supply, the on-site inventory is still acceptable.
Cost side: The prices of methanol and liquid chlorine continue to weaken, and the cost support for dichloromethane is insufficient
Methanol: Due to maintenance in mainland China and a decrease in arrivals at ports, the demand for olefins at ports has decreased. The traditional off-season demand has led to a fluctuating downward trend in the methanol market. As of July 7th, the benchmark price of methanol in Shengyi Society was 2447.50 yuan/ton, a decrease of 12.75% during the week.
Liquid chlorine: Due to low supply and demand in the Shandong market, the price of liquid chlorine has fallen sharply.
Demand side: Traditional downstream industries are suppressed by seasonal factors, resulting in weak purchasing intentions
Dichloromethane is widely used in the fields of refrigerants, pharmaceuticals, coatings, adhesives, electronic cleaning, etc., and is often purchased at low prices and in high demand. Part of the downstream (coatings, adhesives) are affected by high temperatures, rainy seasons, and environmental inspections, resulting in a decrease in operating rates and weak demand.
The refrigerant is still in the peak demand season, and R32 is basically producing at full capacity, with a significant increase in stability. Although the peak season for refrigerants supports some demand, the increase in external procurement is limited due to the high proportion of self-produced refrigerants and quota restrictions. If there is no significant improvement in terminal consumption, weak demand or sustained price increases are suppressed.
Future prospects
It is expected that the dichloromethane market will maintain a strong and volatile trend in the short term, but the upward space may be constrained by demand. Suggest paying attention to device dynamics, inventory changes, and downstream order follow-up.

In July, the market price of anhydrous hydrogen fluoride in East China decreased by about 500 yuan/ton compared to the previous month. According to the analysis system of Shengyi Society, as of July 4th, the benchmark price of hydrofluoric acid in Shengyi Society was 10800 yuan/ton, a decrease of 2.99% compared to the end of last month.
On the raw material side, the domestic fluorite price trend continues to decline. As of July 3rd, the benchmark price of fluorite in Shengyi Society was 3150.00 yuan/ton, a decrease of 0.98% compared to the beginning of this month (3181.25 yuan/ton). The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has increased. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. However, as the temperature rises, northern enterprises gradually start operating, and the supply of fluorite enterprises on site has increased, with sufficient inventory. The price center of fluorite market has decreased, and the cost support of hydrofluoric acid is weak, resulting in a decline in hydrofluoric acid prices in July.

On the demand side: Although the downstream refrigerant market is in the traditional peak season, due to weak terminal demand and low stocking enthusiasm, upstream products are mainly purchased on demand, and there is a strong wait-and-see attitude. The market trading atmosphere is cold, and some companies have reduced their raw material demand due to profit losses. The demand for downstream refrigerants is average, and the market price of hydrofluoric acid continues to decline.
Market forecast: The price trend of raw material fluorite is declining, downstream terminal demand is weak, supply and demand are not supported by favorable factors, market trading is sluggish, and it is expected that the anhydrous hydrogen fluoride market will operate weakly and steadily in the later stage. More attention should be paid to the news of leading enterprises and market supply and demand situation.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the recent trend of soda ash prices has decreased. As of June 30th, the average market price of soda ash was 1264 yuan/ton, a decrease of 20 yuan/ton compared to the June 23rd soda ash price of 1284 yuan/ton, a decrease of 1.56%.
2、 Market analysis
Recently, the soda ash market has been weak and declining. The operating rate of supply side equipment remains high, the market inventory has increased, and the sales pressure of soda ash enterprises is significant; The downstream market is lukewarm, terminal trading is limited, downstream demand for soda ash is average, soda ash companies have poor shipments, and the market transaction center has shifted downwards.
As of June 30th, the reference price for soda ash in North China is around 1180-1250 yuan/ton for light soda ash, with a reduction of 80-150 yuan/ton; The mainstream quotation for light soda ash in East China is around 1140-1300 yuan/ton, with a reduction of 30-100 yuan/ton; The mainstream quotation for light soda ash in Central China is around 1130-1300 yuan/ton, and the price remains stable.
According to the commodity analysis system of Shengyi Society, the downstream glass market is weak and limited. From June 23rd to 30th, glass prices remained at 13.82 yuan/square meter with no significant fluctuations. The downstream consumption of glass is slow, with a small amount following up on demand. The glass market is generally overstocked, and companies are adopting a wait-and-see attitude. The price market is operating steadily.
Future forecast: Currently, the utilization rate of soda ash production capacity is running at a high level, with significant inventory pressure on soda ash enterprises and flat downstream transactions. The demand for soda ash is limited, and there is a clear supply-demand contradiction in the market. It is expected that the soda ash market will continue to operate weakly in the later stage, and specific attention should be paid to downstream demand follow-up.

The phthalic anhydride market remained weak and consolidated in June

According to the Commodity Market Analysis System of Shengyi Society, as of June 30th, the price of phthalic anhydride in neighboring countries was 6916.67 yuan/ton, a fluctuating decrease of 0.48% compared to the price of phthalic anhydride at 6950 yuan/ton on June 1st. In June, the price of phthalic anhydride first fell and then rose, and the price of industrial naphthalene fluctuated and fell. The cost support for phthalic anhydride weakened. In June, phthalic anhydride equipment was briefly overhauled, and the operating rate of phthalic anhydride enterprises decreased to about 6.50%. The supply of phthalic anhydride decreased, and the downstream plasticizer market fluctuated and consolidated. The operating load of equipment for plasticizer enterprises decreased significantly, and the demand support for phthalic anhydride weakened. Due to sufficient supply and weak demand, the price of phthalic anhydride fluctuated and fell in June.
Reduced cost support for phthalic anhydride and sufficient supply
In June, the price of ortho benzene fluctuated and fell. At the end of the month, Sinopec quoted a price of 7000 yuan/ton for ortho benzene, which first fell and then rose compared to 7100 yuan/ton at the beginning of the month. Industrial naphthalene prices have fluctuated and fallen, and the cost support for phthalic anhydride has weakened. In June, the phthalic anhydride equipment underwent a brief maintenance, and the operating rate of enterprises was consolidated. The operating rate of the domestic phthalic anhydride industry was about 6.5%, and the supply of phthalic anhydride was sufficient. The weakening of cost support and sufficient supply have weakened the support for the rise in phthalic anhydride prices in June.
Demand side: DOP prices fluctuate and consolidate
According to the Commodity Market Analysis System of Shengyi Society, as of June 30th, the DOP price was 8259.17 yuan/ton, fluctuating and consolidating compared to the June 1st DOP price of 8250.83 yuan/ton, with an increase of 0.10%. In June, DOP production decreased, and the operating rate of the plasticizer industry dropped below 60%. DOP prices remained stable at a high level, plasticizer production decreased, demand for phthalic anhydride weakened, and support for phthalic anhydride price increases weakened.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies have seen a decline in production, a decrease in plasticizer output, and weakened support for phthalic anhydride demand; In terms of supply, the production of phthalic anhydride enterprises has slightly decreased, and the supply of phthalic anhydride is sufficient. In the future, with sufficient supply and weak demand, it is expected that the price of phthalic anhydride will remain weak and consolidate.

According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market fluctuated and rose in June. As of June 30th, the spot rubber market in China’s natural rubber market was around 13858 yuan/ton, an increase of 4.13% from 13308 yuan/ton at the beginning of the month.

The rise in natural rubber prices in June was mainly boosted by financial sentiment, with Shanghai rubber rising, driving up spot prices. The fundamentals of the natural rubber spot market in June are not optimistic. Downstream tires start to rise first and then fall, providing support for natural rubber; The natural rubber raw material market has fallen sharply, and the cost center of natural rubber has shifted downwards; The domestic natural rubber inventory continues to increase slightly, which has a negative impact on the natural rubber market. As of June 30th, the mainstream price for 23 years of Guangken, Baodao, and Haibao latex in Qingdao area ranges from 13800 to 14100 yuan/ton.
The price of natural rubber raw materials fell sharply in June. As of June 30th, the price of Thai glue was 56.00 Thai baht/kg, a decrease of 8.57% compared to 61.25 Thai baht/kg at the end of May. At present, the Yunnan production area in China has entered the cutting stage. Although Thailand and Hainan have recently experienced increased precipitation and high prices, the expected increase in global supply in the later stage is not reduced, and the price of natural rubber raw materials is expected to continue to decline in the later stage.
The natural rubber inventory continued to increase slightly in June, which had a bearish impact on the natural rubber market. As of June 22, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 617300 tons, a slight increase from 614600 tons at the end of May.
In early June, the construction of downstream tires during the Loong Boat Festival holiday was at a low level. After the festival, the construction of tires increased significantly. In the middle and late months, the construction of tires again declined slightly. On the whole, the downstream tire industry in June maintained a just needed support for natural rubber. As of June 27th, the production of semi steel tires by domestic tire companies has slightly decreased to around 7.10%; Around 6.20% of all steel tire production in Shandong tire enterprises has started.
Market forecast: When domestic and foreign raw material prices stabilize at high levels and then decline, downstream tires will support the demand for natural rubber, and the inventory at Tianjiao Port will remain high; Overall, it is expected that the natural rubber market will consolidate weakly in the later stage.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of June 23, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6710 yuan/ton, which is 0.74% lower than the reference average price of 6760 yuan/ton on June 16.
2、 Market analysis
Market Aspects
The domestic phosphoric acid market prices have fallen this week. As of June 23rd, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6450-6900 yuan/ton, in Yunnan region it is around 6500 yuan/ton, and in Sichuan region it is around 6400-6800 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6500-7300 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. The market price of raw material yellow phosphorus has fallen this week. Downstream price cutting procurement has a resistance to high prices. It is expected that the short-term yellow phosphorus market transaction price will weaken and decline.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been weak and declining recently. The price of raw material yellow phosphorus has weakened, and there is insufficient cost support. The trading volume in the phosphoric acid market is light, with limited new orders in the market. It is expected that in the short term, the domestic phosphoric acid market prices will mainly weaken and decline.

price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the isopropanol market first rose and then fell this week, and overall the price has slightly increased. At the beginning of the week, the average price of isopropanol in China was 6141.67 yuan/ton, and over the weekend it was 6166.67 yuan/ton, with a price increase of 0.41%.
This week, the isopropanol market first rose and then fell, with a slight increase in overall prices. The overall market situation of isopropanol is average, with weak costs over the weekend, weak demand, lack of confidence among industry players, and a weak downward trend in negotiation focus. As of now, most of the isopropanol market prices in Shandong are around 6000-6100 yuan/ton; The majority of prices in the isopropanol market in Jiangsu region are around 6200-6300 yuan/ton.
Future forecast
The isopropanol analyst from Business Society Chemical Branch believes that the isopropanol market rose first and then fell this week. The price of raw material acetone has declined, while the price of propylene has increased. Overall, the cost support is average. The downstream market demand is weak, and the shipment of goods by holders is not smooth. It is expected that the isopropanol market will operate weakly in the short term, with a focus on buying for essential needs and paying more attention to changes in the raw material market.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price trend of soda ash has continued to decline this week. As of June 13th, the average market price of soda ash was 1310 yuan/ton, a decrease of 1.36% compared to the June 6th soda ash price of 1328 yuan/ton, and a decrease of 5.48% compared to the beginning of the month.
2、 Market analysis
This week, the soda ash market is experiencing a weak downward trend. The supply side maintenance equipment has resumed operation, the operating rate of the equipment has increased, the market supply is sufficient, and the sales pressure of soda ash enterprises has increased; The downstream market is weak, terminal trading is sluggish, downstream demand is not high, and there is insufficient support for soda ash. The mentality of soda ash enterprises is poor, and the market transaction center continues to decline.
As of June 13th, the reference price for soda ash in North China is around 1260-1400 yuan/ton for light soda ash, with a reduction of 40 yuan/ton; The mainstream quotation for light soda ash in East China is around 1210-1400 yuan/ton, with a reduction of 70 yuan/ton; The mainstream quotation for light soda ash in Central China is around 1200-1330 yuan/ton, with a reduction of 20 yuan/ton.
According to the commodity analysis system of Shengyi Society, the downstream glass market is weak and limited. From June 6th to 13th, the price of glass decreased from 14.00 yuan/square meter to 13.80 yuan/square meter, a decrease of 1.43%. The downstream consumption of glass is slow, demand continues to be weak, the glass market has obvious inventory accumulation, and the shipment of enterprises is poor, resulting in a weak downward trend in price focus.
Future forecast: Currently, the utilization rate of soda ash production capacity has increased, leading to significant inventory pressure for soda ash enterprises. Downstream demand continues to be weak, resulting in limited consumption of soda ash and ongoing supply-demand conflicts within the market. It is expected that the soda ash market will be weak in the later stage of consolidation and operation, with specific attention paid to downstream demand follow-up.

This week, the domestic fluorite price trend has declined. As of the weekend, the average price of fluorite in China was 3275 yuan/ton, a decrease of 4.03% from the beginning of the week price of 3412.5 yuan/ton and a year-on-year decrease of 14.80%.

Supply side: The mine is operating normally, and the supply of fluorite is normal
The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has increased. Upstream mining is tense, and backward mines will continue to be eliminated. In terms of new mines, mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. However, with the rise of temperature, northern enterprises are gradually starting production, and the supply of fluorite enterprises on site has increased. The lack of active procurement has led to sufficient spot goods on site, and some fluorite manufacturers have a strong sentiment of destocking, resulting in a continuous decline in the fluori.
Demand side: The price of hydrofluoric acid has declined, and the refrigerant market is still acceptable
This week, the domestic price of hydrofluoric acid has decreased, and the mainstream price for hydrofluoric acid negotiations in various regions of China is 10900-11400 yuan/ton. Some downstream hydrofluoric acid units are still shut down, and there is little change in the spot supply of hydrofluoric acid. Manufacturers mainly purchase hydrofluoric acid on demand, and the overall production of hydrofluoric acid remains at more than 50%. Fluorine enterprises maintain essential orders, and hydrofluoric acid enterprises are in a loss making state. They are not active in purchasing raw fluorite, and downstream merchants have a strong wait-and-see attitude. Both buyers and sellers have weak expectations for the future due to poor demand digestion. Recently, some hydrofluoric acid manufacturers have seen prices decline, which has greatly affected the fluorite price market.
The downstream refrigerant market in the terminal industry is still promising, and the terminal policy of the refrigerant industry is being strengthened. Demand is expected to achieve substantial improvement. Fluorine chemical enterprises within quota control have strong confidence in raising prices in the refrigerant market. Currently, the pace of high price procurement is relatively slow, but the industry inventory is transmitting in a positive and orderly manner. Due to high prices, the enthusiasm for stocking up in the terminal industry is low, and upstream products are mainly purchased on demand. The trend of refrigerant market is average, while the fluorite market continues to decline.
In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as in national defense, nuclear industry and other fields, including lithium hexafluorophosphate, PVDF、 Graphite negative electrodes, photovoltaic panels, etc., have received certain support in the application of fluorite due to the demand for new energy and semiconductors.
Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production and undergone safety inspections. The tight supply of fluorite mines is a positive support for the fluorite market. However, in some areas, the lack of active fluorite procurement has led to an increase in inventory. In addition, downstream resistance to high prices is severe, and hydrofluoric acid enterprises mainly purchase on demand, with no actual increase in demand. In addition, the market price of hydrofluoric acid is low. Overall, the fluorite market price is prone to decline but difficult to rise in the short term.

The price of plasticizer DOP first fell and then rose

According to the Commodity Market Analysis System of Shengyi Society, as of June 6th, the DOP price was 8267.50 yuan/ton, a decrease followed by an increase of 0.20% compared to the June 1st DOP price of 8250.83 yuan/ton; Compared to June 3rd, the DOP price of 8192.50 yuan/ton fluctuated and rose by 0.92%. The operating rate of plasticizer DOP enterprises was temporarily stable at a low level, the downstream demand for plasticizers was poor, and the rise of plasticizer prices was sluggish. After the Dragon Boat Festival, the demand for plasticizers recovered briefly, and plasticizers fell first and then rose. In addition, the price of raw material isooctanol first fell and then rose, the price of phthalic anhydride fluctuated and fell, the cost of plasticizers first fell and then rose, and the price of plasticizers first fell and then rose.
The price of raw material isooctanol first fell and then rose
According to the Commodity Market Analysis System of Shengyi Society, as of June 6th, the price of isooctanol was 7550 yuan/ton, which first fell and then rose compared to the price of 7550 yuan/ton on June 1st, and the price has stabilized; The price of isooctanol has increased by 1.12% from 7466.67 yuan/ton on June 4th. In June, the price of isooctanol did not continue its upward trend from May and fell slightly. With downstream customers replenishing their inventory at low prices and the demand for isooctanol recovering, the price of isooctanol first fell and then rose. The production capacity of isooctanol enterprises has increased, the supply of isooctanol is sufficient, and coupled with poor demand recovery, the price of isooctanol first fell and then rose.
The price of raw material phthalic anhydride has fluctuated and fallen
According to the Commodity Market Analysis System of Shengyi Society, as of June 6th, the price of phthalic anhydride in neighboring countries was 6850 yuan/ton, which fluctuated and fell by 1.44% compared to the price of phthalic anhydride at 6950 yuan/ton on June 1st. The equipment start-up of phthalic anhydride enterprises is stable at a high level, with a start-up rate of about 70% and sufficient supply of phthalic anhydride; The price of ortho phthalic anhydride raw material ortho benzene fluctuated and fell, while the price of naphthalene raw material in the industry fluctuated and fell. The cost of phthalic anhydride decreased, and downstream demand for plasticizers was weak, resulting in a fluctuating decline in phthalic anhydride prices.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol first fell and then rose, the price of phthalic anhydride fluctuated and fell, and the cost of plasticizer DOP first fell and then rose; On the demand side, the demand for plasticizers is not recovering well. In the future, the demand for cost reduction is not good, and it is expected that the price of plasticizer DOP will first fall and then rise.