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.