The latest bidding price for the domestic hydrogen fluoride market has landed, with a delivery price of 11900-12100 yuan/ton in the Jiangsu and Zhejiang regions, a slight increase of 0-100 yuan/ton compared to the previous period. According to the analysis system of Shengyi Society, as of January 29th, the benchmark price of hydrofluoric acid in Shengyi Society was 13066.67 yuan/ton, an increase of 0.26% from the beginning of the month.
Raw material side: The prices of raw materials fluorite and sulfuric acid have been running high this week, providing solid cost support for anhydrous hydrofluoric acid on the raw material side. It is expected that hydrofluoric acid will maintain stable, medium, and strong operation before the holiday. According to the analysis system of Shengyi Society, as of January 29th, the benchmark price of Shengyi Society’s fluorite was 3412.50 yuan/ton, an increase of 0.37% compared to the beginning of this month (3400.00 yuan/ton).
Demand side: As the downstream refrigerant industry approaches the end of the year, production quotas have been exhausted, and overall demand is weak, with on-demand procurement being the main focus. Maintain a wait-and-see attitude and have low purchasing enthusiasm. The market price has shown weak upward momentum, and in the short term, the main focus will be on executing contract orders and maintaining weak stability.
Market forecast: The price of raw material fluorite sulfuric acid is running at a high level, with some support. Downstream demand is weak, and rigid demand is the main focus. Demand side support is average. It is expected that the market price of anhydrous hydrogen fluoride will remain stable with a moderate to strong trend in the later stage. More attention should be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, as of January 28th, the average market price of acetic acid was 2873.33 yuan/ton, a decrease of 30 yuan/ton or 1.03% compared to the price of 2903.33 yuan/ton on January 21st.

Recently (1.21-1.28), domestic acetic acid prices have been consolidating downward. On the supply side, the utilization rate of acetic acid production capacity has slightly increased, the market supply has increased, and some regions have a strong intention to ship; On the downstream side, entry into the market is mainly based on demand, and the trading atmosphere in the market has fallen slightly. Enterprise inventories have risen, and acetic acid prices have slightly loosened. The acetic acid market has weakened and decreased during the week.
Recently, the price of raw material methanol has fluctuated upwards. As of the 28th, the average price in the domestic market was 2288 yuan/ton, an increase of 3.16% compared to the price of 2218 yuan/ton on January 21st. The expected reduction in import inventory in the port methanol market has a strong price focus, which has boosted spot prices; In some regions of China, the trading of methanol is moderate, and the market supply and demand are relatively balanced. The methanol market is relatively strong and rising, and the impact of cost on acetic acid is limited.
The downstream acetic anhydride market is operating weakly. From January 21st to 28th, the average ex factory price of acetic anhydride was reduced from 4622.50 yuan/ton to 4590.00 yuan/ton, a decrease of 0.70%. The operating rate of acetic anhydride on the supply side has not changed much, upstream acetic acid prices have decreased, cost support has weakened, downstream demand is limited, market favorable factors have decreased, and enterprise mentality is bearish. Acetic anhydride prices have weakly decreased during the cycle.
Market forecast: Business Society’s acetic acid analyst believes that the operating rate of domestic acetic acid plants is at a medium to high level, the inventory pressure of enterprises is still acceptable, the recovery of on-site maintenance equipment is slow, the market mentality is supported, the downstream market is declining, and demand is weakened. It is expected that the acetic acid market will fluctuate and consolidate in the later stage, and the market supply situation will be closely monitored in the future.

According to data from the Commodity Analysis System of Shengyi Society, the hydrogen peroxide market weakened and continued to decline in January, with a drop of over 12%. At the beginning of the month, the average price of hydrogen peroxide in the market was 776 yuan/ton. On January 27th, the price of hydrogen peroxide was 676 yuan/ton, a decrease of 12.88%.
Negative pressure on January hydrogen peroxide market continues to decline
After New Year’s Day, the demand for hydrogen peroxide in the terminal printing and papermaking industry was sluggish, and the enthusiasm for purchasing hydrogen peroxide was average. It was purchased on demand and used as needed. The operating rate of hydrogen peroxide manufacturers is relatively high, and the market supply of hydrogen peroxide is sufficient. The supply pressure has doubled, and the hydrogen peroxide market continues to be sluggish, with prices falling to around 680 yuan/ton, a decrease of 100 yuan/ton.
The hydrogen peroxide analyst from Shengyi Society believes that supply pressure is still present, terminal demand is weak, and the hydrogen peroxide market will continue to face upward pressure in the future, mainly due to weak operation.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of caustic soda is weak this week. The average market price at the beginning of the week was 690 yuan/ton, and the average market price over the weekend was 668 yuan/ton, a decrease of 3.19% and a year-on-year decrease of 32.86%. On January 22, the Business Social Chemical Index was 787 points, up 2 points from yesterday, down 43.79% from the highest point of 1400 points during the cycle (2021-10-23), and up 31.61% 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 been running weakly this week. The price of caustic soda in Shandong region is around 590-690 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 700-810 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 2150-2250 yuan/ton (converted to 100%) in 32% ion-exchange membrane alkali. This week, the supply of caustic soda is still in a loose state, and there is no obvious destocking by enterprises. Several sets of equipment reduced production, but quickly recovered. The enthusiasm for downstream alumina entering the market has been average recently, while in the north, due to weather conditions and a gradual decrease in stock during the Spring Festival, the market is still in a stalemate, and more caustic soda is purchased on demand. It is expected that the alumina market will experience weak fluctuations in the later period.
Business analysts believe that the caustic soda prices have been weak this week, and downstream buyers in China have been purchasing on demand. There will be no positive support for the Shandong market next week, and demand has not substantially improved. The quotation for orders from outside Shandong Province has basically ended, and the comprehensive supply-demand game predicts that caustic soda may continue to maintain a weak consolidation trend in the later stage, depending on downstream market demand.

The price of ethylene glycol stopped falling and fluctuated in January
The price of ethylene glycol will stabilize and stop falling in January 2026. According to data from Shengyi Society, as of January 16th, the average price of domestic oil to ethylene glycol was 3808.33 yuan/ton, a decrease of 1.45% from the average price of 3864.17 yuan/ton on January 1st.
In terms of port ethylene glycol, as of the 16th, the spot contract for port ethylene glycol (starting from 500 tons) is deeply discounted. In mid to early January, the basis of the spot contract has been maintained within the range of -120 to -160 this week. As of the close, the basis quotation for next week’s contract (before 12.25) is -130 to -125, the basis quotation for next week’s contract (before 1.30) is -125 to -125, the basis quotation for February’s contract (before 2.25) is -90 to -85, the basis quotation for March’s contract (before 3.25) is -40 to -35, and the basis quotation for April’s contract (before 4.25) is+5 to+10.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) for whole vehicle manufacturers is 3240-3380 yuan/ton.
In terms of external ethylene glycol, as of January 16th, the recent negotiations and transactions for ship to land prices have been around 441-443 US dollars per ton.
Changes in Ethylene Glycol Port Inventory in January 2026:
On January 15, 2026, the total spot inventory of ethylene glycol in the main port of East China was 728000 tons, an increase of 68500 tons from the total spot inventory of ethylene glycol in the main port of East China on December 29, which was 659500 tons.
The port inventory began to accumulate in early October 2025 and reached its peak for the year in mid to early December, rising from 355000 tons to 755000 tons. From mid December onwards, the inventory fell back to 628000 tons.
Analysis of the reasons for the fluctuation of the January ethylene glycol stabilization range:
In mid to early January 2026, the price of ethylene glycol stopped falling and fluctuated, with the core being a long short game of cost support, short-term supply disturbance and demand off-season, high inventory, and the release of new production capacity. The spot price fluctuated narrowly in the range of 3650-3850 yuan/ton, without any unilateral trend.
1. Cost side support and volatility form a bottom support for prices
Crude oil prices fluctuated: In January, international oil prices showed a fluctuating trend due to the influence of geopolitical situations such as the Middle East and South America. As an important source of cost for ethylene glycol, it provided temporary support for its price and suppressed its decline.
Coal prices are relatively stable: Coal to ethylene glycol accounts for a relatively high proportion of domestic production capacity, and although coal prices have fluctuated, there has not been a significant decline, providing some bottom support for ethylene glycol prices. However, coal to ethylene glycol is still in a loss making state, and the cost support is limited.
2. Supply side: The coexistence of short-term contraction and long-term easing intensifies the long short game
Overseas plant maintenance and disturbance: Two sets of 720000 tons/year plants in Taiwan and South Asia have been completely shut down, and some plants in the Middle East have undergone load reduction maintenance due to cost or geographical factors, resulting in a short-term reduction in import volume and easing supply pressure.
Domestic new production capacity release and plant restart: The 800000 ton/year new plant in South China started operation in early January, and new plants such as BASF Zhanjiang were put into operation. Pre maintenance plants were restarted one after another, and the overall operating rate in China remained above 70%. The supply increment is clear, and there is a strong expectation of long-term easing.

Continuous accumulation of port inventory: Ethylene glycol inventory in East China ports continues to accumulate, and high inventory levels are suppressing price rebounds.
3. Demand side: The off-season effect combined with the approaching Spring Festival provides a bottom for basic demand, but the increment is insufficient
The off-season characteristics of the polyester industry are obvious: as the Spring Festival approaches, downstream polyester enterprises enter the traditional off-season. The operating rate of weaving machines in Jiangsu and Zhejiang has dropped to around 56%, and the operating rate of polyester has gradually declined. In addition, nearly 10 million tons of polyester production capacity are planned to be shut down for maintenance in February, and there is a strong expectation of demand contraction.
Basic needs support: The polyester industry still has a certain level of basic needs, and some companies are stocking up before the holiday, which provides some support for the price of ethylene glycol and avoids a sustained sharp decline in prices.
4. Market sentiment and expectations: The pattern of mixed long and short volatility is difficult to change
Geopolitical situation impact: Geopolitical conflicts in the Middle East, South America, and other regions have raised concerns about supply stability in the market, driving a temporary rebound in prices. However, the conflict has not escalated further and the support is limited.
As the Spring Festival holiday approaches, market participants have a strong wait-and-see attitude, traders are actively shipping, and buying follow-up is average. The basis of proximal supply has weakened, and prices are showing a wide range of fluctuations.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market has risen multiple times in January. On January 1st, the market price of aniline was 7945 yuan/ton, and on January 16th it was 8437 yuan/ton, with a rise of 6.2% during the period and a decrease of 7.02% compared to the same period last year.
2、 Analysis and Review
In January, the domestic aniline market supply remained tight, with stable production of aniline factories and downstream demand entering the market. The price of pure benzene on the raw material side has risen sharply due to the boost of crude oil prices. Under the joint boost of inventory status and raw materials, the price of aniline has been raised multiple times. In the middle of the month, prices continued to rise slightly, with high prices and increased resistance to further price increases.
Cost wise: Recently, the pure benzene market has seen a significant increase. The deterioration of the situation in the Middle East has driven up crude oil prices, coupled with the strong rise of downstream styrene, which has driven the demand for pure benzene and actively boosted the pure benzene market.
3、 Future expectations
At present, the trading of aniline market is stable, and the downstream willingness to purchase high priced raw materials has decreased. It is expected that the aniline market will stabilize and operate after a short-term rise, and we will closely monitor the changes in raw materials and supply and demand in the future.

Product Name: Isopropanol
Latest price: On January 15th, the average market price was 5325 yuan/ton.
Analysis points: The isopropanol market is trending upwards today. At present, the confidence in the market is still good. The price of acetone in the upstream market has risen, and cost support has driven confidence in the isopropanol market. The intention of holders to lower their prices has weakened, and the offer is relatively strong. Downstream inquiries are relatively active, procurement is on demand, and transactions are cautious. It is expected that the isopropanol market will operate strongly in the short term, and the actual transaction price will be negotiable.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average market price of domestic grade ammonium sulfate on January 12th was 1063 yuan/ton, which is 1.59% higher than the average market price of 1046 yuan/ton on January 5th.
2、 Market analysis
supply and demand situation
This week, the domestic ammonium sulfate market prices have been rising. This week, the operating rate of coking grade ammonium sulfate remained stable, while the operating rate of domestic grade ammonium sulfate decreased, resulting in a decrease in market supply. This week, the price of urea has risen, which indirectly benefits the ammonium sulfate market. The demand for ammonium sulfate in the market is stable, and the transaction atmosphere is improving. However, downstream procurement remains cautious, with a focus on low-priced purchases.
market situation
As of January 12th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 910 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1020-1070 yuan/ton.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the recent strong upward trend in the ammonium sulfate market is the main trend. At present, the market for ammonium sulfate is improving, with manufacturers and distributors mainly pushing prices. The terminal demand is average, and the upward space is limited. It is expected that in the short term, the domestic ammonium sulfate market will be dominated by strong price consolidation and operation.

According to the Commodity Market Analysis System of Shengyi Society, from January 4th to 9th, the domestic ethanol price rose to 5430 yuan/ton, with a month on month increase of 1.35% and a year-on-year increase of 4.43%. The domestic ethanol market has seen a double increase in supply and demand, and the cost of fermented ethanol is running at a high level with limited upward momentum; The terminal demand has improved, and the short-term cost positive trend still exists. With the destocking environment in the main production areas, the future market is stable but weak.

From a cost perspective, the overall price center of corn continues to shift upwards. The price increase of Beigang has stimulated the arrival of goods, and futures have also risen. The production area follows Beigang and futures with a price increase of 10-30 yuan/ton. The quantity of grain on the market is still limited, and the enthusiasm for selling grain at the grassroots level is still average. The cost of ethanol is influenced by favorable factors.
The supply side and ethanol supply side are affected by bearish factors.
On the demand side, downstream ethyl acetate production capacity utilization rate has slightly increased. The demand for ethanol is influenced by favorable factors.
Market forecast, overall. The ethanol analyst from Shengyi Society predicts that the short-term ethanol market will mainly experience narrow fluctuations.

In December 2025, the domestic epoxy propane market showed a trend of “fluctuating upward, then rebounding after a pullback”. According to the monitoring system, as of December 31st, the benchmark price of epichlorohydrin was 7733.33 yuan/ton, a decrease of 0.22% compared to December 1st. The core contradiction in the market is concentrated in the supply game between the release of new production capacity and the elimination of old equipment, coupled with the dual constraints of fluctuating raw material propylene prices and weak downstream demand, resulting in a phased pattern of prices.

In early December, the epoxy propane market showed a steady upward trend, with prices gradually rising from 7750 yuan/ton at the beginning of the month to 8166.67 yuan/ton, with a cumulative increase of 5.38%.
Raw material side: At the beginning of the month, the price of propylene remained at a high level of 6180.75 yuan/ton, forming a basic support for the cost side. According to the monitoring system, as of December 12th, the benchmark price of propylene was 6220.75 yuan/ton, an increase of 0.65% compared to the beginning of this month (6180.75 yuan/ton).
Due to the accelerated destocking of some small and medium-sized enterprises, the supply of goods in the market has tightened temporarily.
Downstream polyether factories have started replenishing inventory and actively purchasing, resulting in an increase of approximately 15% in order volume compared to the end of November. Wanhua Chemical has simultaneously increased its external procurement efforts to further alleviate supply pressure. Mainstream factories have raised their ex factory prices by 100-150 yuan/ton, and the market transaction center continues to shift upward.
Entering mid December, the release of production capacity in the epoxy propane market encountered weak demand, resulting in a downward pressure on prices. As of December 24th, the price gradually fell from 8166.67 yuan/ton (December 12th) to 7850 yuan/ton, with a cumulative increase or decrease of 3.88%.
On the raw material side, the price of propylene has been continuously declining. As of December 31st, the benchmark price of propylene in Shengyi Society was 5711.00 yuan/ton, a decrease of 7.6% compared to the beginning of this month (6180.75 yuan/ton). Weakened cost support.
On the supply side, the 300000 tons/year PO plant of Lianhong was put into operation ahead of schedule on December 10th. Coupled with the release of other new production capacity in Shandong, the tight supply situation in the market has significantly eased, and the enterprise inventory has rebounded to 46000 tons.
Demand side: The downstream PP powder production rate has dropped to a low of 37%, and polyether enterprises have reduced their procurement volume by 30% due to light orders for terminal building materials and home furnishings, only maintaining small orders for essential needs. The factories in the north and south are selling at low prices to reduce inventory, further suppressing market sentiment.
In late December, the epoxy propane market showed a “fluctuating rebound under the game of supply and demand”, with prices rising from 7850 yuan/ton to 8050 yuan/ton, an increase of 2.55%.
Raw material side: The price of propylene continues to decline, with weak cost support.
Supply side: On December 22nd, the joint PO device officially produced qualified products, with a theoretical increase in daily supply of 800 tons, which initially triggered bearish sentiment in the market. However, during the same period, a large factory in the north temporarily shut down due to environmental protection rectification, affecting its daily production capacity of 500 tons and causing supply side disturbances, forming a hedge. The northern factory took the opportunity to raise the factory price by 200 yuan/ton, which led to a rebound in spot prices.
Demand side: Downstream enterprises have limited acceptance of high priced raw materials, with a new order transaction rate of less than 40% and a strong resistance mentality. After the price rises, it quickly enters a stalemate state, and the trend at the end of the month is weak.
Market forecast:
An epoxy propane analyst from Shengyi Society believes that currently, the price trend of propylene in the raw material market is weak, which provides weak support for epoxy propane and limits the driving force for enterprises to raise prices; The release of new production capacity on the supply side is parallel to the elimination of old equipment, leading to an increase in industry concentration but short-term supply easing. Downstream industries are generally facing profit inversion, with rigid demand procurement being the main focus, making it difficult to form sustained upward momentum; It is expected that the epoxy propane market will continue to operate steadily with a moderate to strong trend in the later stage, and more attention should be paid to changes in raw material prices and market supply and demand.