According to the Commodity Market Analysis System of Shengyi Society, the price of lithium carbonate has shown a fluctuating trend recently. As of March 17th, the benchmark price of battery grade lithium carbonate in Shengyi Society was 155000 yuan/ton, a decrease of 3.12% compared to the same period last week (March 10th), a month on month increase of 6.9%, and a year-on-year increase of 10.3%.
Inventory side: Low inventory supports firm prices
The industry’s inventory remains low and the trend of destocking is clear. Statistics show that spot inventory of lithium carbonate has dropped to a temporary low, with smelter inventory reaching a nearly three-year low and downstream stocking also at a low level. The low inventory pattern significantly narrows the downward space for prices, providing strong support for lithium prices.
Supply side: Frequent disturbances both domestically and internationally
The impact of the Spring Festival holiday is gradually subsiding, and domestic lithium salt enterprises have generally resumed production, resulting in a significant rebound in the overall production schedule of the industry.
However, the supply elasticity of the industry is still constrained by multiple factors: on the one hand, the progress of domestic core lithium resource resumption is not as expected; On the other hand, there has been a sudden change in the policies of key lithium resource countries overseas, which has caused significant disruptions to the supply chain. The country recently announced a suspension of all lithium concentrate exports to promote localized processing of lithium resources. Although other major exporting countries have increased their exports of lithium concentrate to China on a month on month basis, to some extent filling the supply gap, the fragility of the global lithium supply chain has been further highlighted.
Demand side: Energy storage becomes the core growth engine of demand
The downstream has entered the traditional production peak season, and the production scheduling data has shown impressive performance. On March 16th, the State Council Information Office held a press conference to introduce the operation of the national economy in January and February 2026. At the meeting, it was stated that the production of lithium-ion batteries for energy storage increased by 84% from January to February. The demand for energy storage is growing rapidly. Although the sales of new energy vehicles have fluctuated due to seasonal factors in the early stage, the production of power batteries has shown a significant seasonal recovery, providing solid support for overall demand.
Business Society’s lithium carbonate data analyst believes that the explosive growth of energy storage demand has become a deterministic trend, while global lithium resource supply continues to be constrained by multiple factors such as geopolitics, environmental protection, and industrial policies. The lithium carbonate market is gradually shifting from a loose pattern in the early stage to a tight balance in the medium to long term, and the price center is receiving strong support. Specific attention still needs to be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, from March 6th to 13th (as of 15:00), the domestic methanol market in East China port prices rose from 2595 yuan/ton to around 2832 yuan/ton, with a price increase of 9.15% during the cycle, a month on month increase of 28.65%, and a year-on-year increase of 7.77%. The domestic methanol market trading is still mainly influenced by geopolitics, and the rising sentiment on the futures side is gradually transmitted to the spot market; Supported by the continuous destocking of enterprises, the increasing demand for locally sourced olefins, and the gradual recovery of downstream demand, methanol prices have shown a significant surge.

As of the close on March 13th, the closing price of methanol futures on Zhengzhou Commodity Exchange has risen. The main contract for methanol futures, 2605, opened at 2754 yuan/ton, with a highest price of 2887 yuan/ton and a lowest price of 2723 yuan/ton. It closed at 2805 yuan/ton in the closing session, up 32 yuan/ton or 1.15% from the previous trading day’s settlement. The trading volume is 2171545, the position is 584205, and the daily increase is 13631.
On the cost side, downstream coal enterprises have resumed work and production one after another, and demand expectations have increased. Market prices are mainly stable. The cost impact is mixed.
On the demand side, the downstream end is affected by the sharp rise in raw material methanol, and the prices of various downstream products are rising accordingly. Currently, the profitability is quite considerable, MTO、 The profit growth of the acetic acid and methane chloride industries is the most significant. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards favorable factors.
Supply side, extended device maintenance; Some devices have been restored; The overall loss exceeds the recovery, resulting in a decrease in production and a decrease in capacity utilization. Recently, there has been an increase in methanol recovery facilities and a decrease in maintenance and production reduction facilities, resulting in an overall increase in market supply. Negative factors affecting the methanol supply side.
In terms of external trading, as of the close on March 12th, the CFR Southeast Asian methanol market closed at $494-496 per ton, up $39.5 per ton. The FOB US Gulf methanol market closed at 106-108 cents/gallon, up 2 cents/gallon; The European FOB Rotterdam methanol market closed at 380-382 euros/ton, up 13 euros/ton.
The future forecast shows that the expected import volume will decrease in the near future, and the performance of upstream destocking will be affected, but the overall destocking intensity is weaker than expected. Overall, the methanol analyst from Shengyi Society predicts that the domestic methanol spot market will be mainly dominated by strong consolidation.

Since March 2026, the domestic bisphenol A market has broken the stable pattern and started an explosive upward trend, with prices soaring for 9 days, showing a rare trend of “one price per day”.

1、 Market situation: price ladder like surge, astonishing increase
Since March, the price of bisphenol A has risen in a stepped manner, with the increase continuing to expand.
According to data from Shengyi Society, the market price was about 8070 yuan/ton on March 1st. Subsequently, mainstream manufacturers raised their prices one after another: on March 3rd, it rose to 9000 yuan/ton, on March 5th it reached 9200 yuan/ton, on March 6th it broke through 10500 yuan/ton, and on March 9th it rose to 14800 yuan/ton, with a cumulative increase of 83.39% compared to March 1st. The market presents a pattern of “tight supply and traders reluctant to sell”, further promoting price increases.
The price increase this time is the result of the resonance of three factors: cost, supply, and market sentiment, jointly driving the explosive rise in prices.
（1） Cost side: Crude oil drives a surge in raw materials, laying a solid foundation for price increases
The production of bisphenol A relies on phenol and acetone, and their prices are closely related to international crude oil. In March, the geopolitical conflict in the Middle East intensified, with crude oil operating at high levels, driving up raw material prices. Phenol and acetone saw significant increases, pushing up the production cost of bisphenol A and forcing companies to raise their quotes.
（2） Supply side: Large factories raising prices+insufficient production, continuous tightening of spot goods
The mainstream bisphenol A enterprises are collectively raising prices, coupled with low operating loads and low inventory levels, resulting in tight spot supply. Most companies prioritize delivering to long-term contract customers, while traders hold onto their goods and hesitate to sell, further exacerbating the supply gap and supporting price increases.
（3） Market side: Panic spreads, amplifying price increases
The situation in the Middle East has raised concerns in the market about the obstruction of raw material imports, and panic has spread, compounded by the mentality of “buying up instead of buying down”. Traders are reluctant to sell, and downstream demand is passively following suit, forming a cycle of price increases and amplifying the gains.
The transmission of the industrial chain is prominent, and the pressure on upstream and downstream is obvious
The price increase of bisphenol A has a profound impact on the chemical industry chain, with a sharp increase in downstream cost pressure and a clear transmission effect. The production costs of downstream enterprises such as epoxy resin and polycarbonate have significantly increased, squeezing profits. Some small and medium-sized enterprises have reduced production capacity and suspended procurement; The price increase is gradually transmitted to the terminal industry, and some companies have issued price increase letters, highlighting the pressure on terminal prices.

According to the Commodity Market Analysis System of Shengyi Society, from March 2nd to 6th, the domestic BDO price rose from 7371 yuan/ton to 7557 yuan/ton, with a price increase of 2.52% during the cycle, a month on month increase of 2.72%, and a year-on-year decrease of 5.07%. The supply of goods has decreased, while the overall downstream demand has increased. Affected by geopolitical conflicts and other factors, other raw materials have surged, driving downstream industries to rise. Moreover, online bidding at a premium has driven the BDO market to bottom out and rebound, with suppliers showing a strong market sentiment.

In terms of supply and equipment, regardless of the BDO equipment being shut down for maintenance or replacement, the supply of goods has decreased and the support on the supply side has been strengthened. The supply side of BDO is affected by favorable factors.
On the cost side, raw material calcium carbide: The calcium carbide market is experiencing a rapid decline, and production companies are actively shipping. Some companies have accumulated inventory and flexible transactions. Raw material methanol: The methanol market has surged significantly. As of 10:00 am on March 2nd, the reference price for domestic methanol in Taicang is 2520 yuan/ton. The weak market for raw material calcium carbide and the rising market for methanol have had a mixed impact on the cost of BDO.
Demand side, downstream industry. After the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival), downstream factories will gradually resume work, and the demand side will start to work on an overall basis, increasing the digestion of raw materials. The demand for BDO is influenced by favorable factors.
In the future forecast, the supply-demand gap will continue to narrow, supporting the supply side’s support for the market mentality, and the market will slightly fluctuate strongly. Business analyst BDO predicts that the domestic BDO market is expected to rebound and consolidate.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has seen a significant increase in recent times. As of March 4th, the average market price of n-butane oxidation maleic anhydride remained at 5962.50 yuan/ton, an increase of 12.50% from 5300 yuan/ton on March 1st.

Supply side: Recently, the market for maleic anhydride has continued to rise significantly: the transaction price of Wanhua Auction in East China has continued to rise to 6120-6130 yuan/ton, with a three-day increase of 1140-1150 yuan/ton. The transaction situation is good, supporting the maleic anhydride market, and the prices of the main factories for maleic anhydride have continued to rise significantly. As of March 4th, the factory price of solid anhydride in the maleic anhydride market in Shandong is around 6200 yuan/ton, while the factory price of liquid anhydride is around 6000 yuan/ton.
Upstream: The Saudi CP price remained stable at $540/ton in March, but due to the expected closure of the Strait of Hormuz, sea transportation is affected, and the supply of imported liquefied petroleum gas may become tight. Considering the soaring freight and insurance costs, the actual landed cost of Saudi CP is moving away from paper calculations, and long-term expectations are still rising. Domestic n-butane prices have risen to 5350 yuan/ton.
Downstream: Recently, the unsaturated resin market has risen, mainly due to the significant increase in raw material styrene and maleic anhydride, supported by the cost of unsaturated resin, and the gradual resumption of work and centralized replenishment by end users, which has supported the unsaturated resin market; But some downstream enterprises have stocked up before the holiday, and procurement is mainly focused on maintaining essential needs.
Business Society’s maleic anhydride product analyst believes that in the short term, the maleic anhydride market may continue to rise due to the continued impact of geopolitical risk premiums, the strong push up of cost corrected butane, and the resumption of work of downstream unsaturated resins, which are the main players.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of soda ash fell in February. The average market price of light soda ash at the beginning of the month was 1208 yuan/ton, and the average market price at the end of the month was around 1188 yuan/ton. The price decreased by 20 yuan/ton during the month, a decrease of 1.66%.
2、 Market analysis
According to the Commodity Analysis System of Shengyi Society, the soda ash market experienced a weak downward trend in February. In terms of supply, the operating rate of soda ash plants has not changed much and continues to operate at a high level. The market supply is sufficient, and there is significant inventory pressure on enterprises. In order to promote the downward shift of soda ash prices before the holiday; In terms of demand, the glass industry’s production lines have undergone cold repairs, resulting in a decrease in production. Additionally, many companies have consumed inventory, which has weakened support for soda ash. As a result, both supply and demand in the market have weakened, leading to a continued decline in soda ash prices during the month.
As of February 28, 2026, the mainstream market price of light soda ash in East China is around 1120-1560 yuan/ton, in Central China it is around 1100-1200 yuan/ton, and in North China it is around 1200-1270 yuan/ton.
On the demand side: According to the commodity analysis system of Shengyi Society, glass prices have been running strongly this month, with the average glass market price increasing from 13.10 yuan/square meter to 13.38 yuan/square meter, an overall increase of 2.14%. During the month, some glass production lines underwent cold repairs, leading to a decrease in industry operating rates. Downstream procurement followed suit as needed, and the market trading atmosphere remained positive. The mentality of enterprises also increased, resulting in a narrow increase in glass prices.
Market forecast: Currently, the operating rate of soda ash is relatively high, the market inventory pressure is high, and downstream production is not high, which has limited support for soda ash. The short-term soda ash market will continue to be weak, and some companies have maintenance plans in March, which may provide support for price increases. It is expected that the soda ash market will fluctuate and consolidate in the future, depending on downstream follow-up.

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 12883 yuan/ton, and at the end of the month it was 12933/ton, with a price increase of 0.39%.

Domestic activated carbon manufacturers have provided strong quotes this month. The ex factory price of coconut shell water purification activated carbon (iodine value 1000) is between 11500-13500 yuan/ton, the mainstream ex factory price including tax is about 9500 yuan/ton for iodine value 800, and 9800-10200 yuan/ton for iodine value 900. In traditional fields such as water treatment, air purification, and gold extraction, the demand for coconut shell activated carbon is still strong, and downstream enterprises have a strong willingness to purchase high-quality coconut shell activated carbon.
Starting from January 1, 2026, the global shipping policy for coconut shell carbonized materials will undergo a fundamental change: coconut shell carbonized materials must be declared as dangerous goods for transportation, new regulations will cancel exemptions, and Chinese coconut shell activated carbon enterprises will soon face rising costs and compliance challenges. Due to factors such as tight raw material supply, rising costs, and stable demand, the activated carbon market may continue to operate at a high level.
Prediction: Domestic demand for coconut shell activated carbon is expected to rebound, and it is expected that the price of activated carbon will mainly fluctuate with a strong trend in the short term.

The domestic EVA market remained stable in February. According to the Commodity Market Analysis System of Shengyi Society, as of February 27th, the benchmark price of EVA in China was 10150 yuan/ton, unchanged from the beginning of the month. Downstream factories replenish raw materials before the holiday, and demand for EVA has certain support; Domestic EVA equipment is operating at a high level and the supply is loose; The price of raw material vinyl acetate has slightly increased, and the cost support of EVA continues.

The supply pressure in the EVA market in February still exists. During the cycle, the prices of raw materials ethylene and vinyl acetate have slightly increased, and the cost of EVA still has support. As of February 26th, the domestic price of ethylene in Sinopec East China was 5850 yuan/ton, an increase of 1.74% from 5750 yuan/ton at the beginning of the month; As of February 26th, the market price of vinyl acetate in East China was 5950 yuan/ton, an increase of 0.85% from 5900 yuan/ton at the beginning of the month.
Downstream demand support in early February, with slightly weak support after the holiday. Before the holiday, there was a strong demand for small orders in the downstream foam industry, with EVA general materials being the main focus of small transactions; After the holiday, downstream foam production resumed slowly, general material transactions were light, and prices remained stable while consolidating; The downstream photovoltaic industry has been slow to increase production, with small inquiries and orders being the main focus. The photovoltaic material market support is stable, moderate, and strong.
Future forecast: Overall, EVA cost support will continue, but downstream demand in the photovoltaic and foam industries will recover slowly after the holiday. In addition, the EVA supply side will maintain a high level, and the overall EVA fundamentals will be stable but slightly weak. It is expected that the weak consolidation of EVA spot market before the holiday will be the main focus.

1、 Price trend

According to data monitored by Business Society, as of February 26th, the average price of domestic industrial grade high-quality cyclohexane was 6900 yuan/ton. Recently, the market supply and demand have been relatively balanced, and the price fluctuation is relatively small. It is expected to be mainly stable, moderate, and narrow in the short term.
2、 Market analysis
Market wise: Recently, the price trend of pure benzene has been weak, and the cost support is limited, which has exerted certain pressure on the price of cyclohexane. If crude oil prices rebound or pure benzene supply tightens in the future, it may lead to cost push increases.
Upstream pure benzene: Supply is loose, domestic pure benzene supply is sufficient, and port inventory is rapidly accumulating. On December 1st, Jiangsu port inventory reached 224000 tons, an increase of 36.59% compared to the previous month. Currently, downstream demand is weak, and the overall operating rate is declining. Main products such as styrene and caprolactam are losing profits, and the purchasing willingness is weak.
Supply side: Domestic cyclohexane production capacity is concentrated, with large enterprises dominating the market. At present, factories in Shandong, Hebei, Anhui and other places maintain small shipments, and the supply of spot goods is limited.
In terms of demand, downstream applications mainly include solvents, resins, coatings, and synthesis of cyclohexanol and cyclohexanone. The current demand is mainly based on on-demand procurement, with overall weakness, and the export market mainly targets Southeast Asian countries such as South Korea and Vietnam.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that in the short term, the cyclohexane market is expected to maintain a stable to weak operation, with prices mainly remaining stable.

According to the Commodity Market Analysis System of Shengyi Society, from February 2nd to 9th (as of 10:00), the domestic methanol market in East China port quotations fell from 2223 yuan/ton to around 2220 yuan/ton, with a price drop of 0.15% during the period, a month on month drop of 2.02%, and a year-on-year drop of 16.52%. The domestic methanol market is weak, with pre holiday companies still mainly relying on inventory and shipment, coupled with a weak macro atmosphere, the market continues to decline. As the destocking gradually comes to an end, market trading tends to be light, and downstream investors are gradually withdrawing from the market to observe.
As of the close on February 9th, the closing price of methanol futures on the Zhengzhou Commodity Exchange has risen. The main contract for methanol futures, 2605, opened at 2236 yuan/ton, with a highest price of 2255 yuan/ton and a lowest price of 2227 yuan/ton. It closed at 2231 yuan/ton at the end of the trading day, an increase of 1 yuan or 0.04% compared to the settlement of the previous trading day. The trading volume is 849691, the position is 831646, and the daily increase in position is 5357.

On the cost side, as the Spring Festival approaches, coal supply and demand are both weak, and the overall trading activity in the market has decreased, resulting in fluctuating coal prices. The cost impact is mixed.
On the demand side, the profit fluctuations of formaldehyde, glacial acetic acid, and dimethyl ether enterprises are relatively narrow, and the market is gradually coming to an end near the Spring Festival, with limited market fluctuations. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
The overall recovery of the device exceeds the loss, resulting in an increase in production and an increase in capacity utilization. Negative factors affecting the methanol supply side.
In terms of external trading, as of the close of February 6th, CFR Southeast Asia methanol market closed at 322.5-323.5 US dollars per ton. The FOB US Gulf methanol market closed at 106.5-107.5 cents per gallon; The European FOB Rotterdam methanol market closed at 296.5-297.5 euros/ton, down 1 euro/ton.
Future forecast: As the Spring Festival approaches and upstream inventory and downstream stocking come to an end, the overall market atmosphere may further weaken. Business Society’s methanol analyst predicts that the domestic methanol spot market will mainly experience consolidation and volatility.