According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market was mainly weakly consolidated this week. As of April 18th, the average market price of n-butane oxidation maleic anhydride remained at 6630 yuan/ton, stable compared to April 14th.

Supply side: This week, the main factories producing maleic anhydride have maintained stable prices; Downstream unsaturated resin manufacturers of maleic anhydride are operating steadily, with a focus on replenishing urgently needed maleic anhydride. As of April 18th, the factory price of solid anhydride in Shandong region is around 6400 yuan/ton, and the factory price of liquid anhydride is around 5950 yuan/ton.
Upstream: The n-butane market has fallen this week, and as of April 18th, the price in Shandong is around 5300 yuan/ton.
Downstream: Currently, unsaturated resin enterprises are mainly operating steadily, and the downstream demand for unsaturated resin procurement is limited, resulting in limited support for unsaturated resin and a strong market wait-and-see sentiment.
The analyst of Shengyi Society’s maleic anhydride products believes that the replenishment of downstream resins, the main force of maleic anhydride, is limited in the near future. In addition, the upstream n-butane market of maleic anhydride has fallen, and market support is limited. It is expected that the maleic anhydride market will mainly consolidate in the near future.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the week was 11900 yuan/ton, and the price of activated carbon at the end of the week was 11966/ton, with a price increase of 0.56%.

Domestic activated carbon manufacturers have seen some price increases this week, while most have remained stable. The ex factory price of activated carbon for coconut shell water purification in East China is between 8800-13000 yuan/ton, and downstream market transactions are positive. Industry insiders are mostly optimistic about the future market and focus on market transactions.
The shipment of coconut shell charcoal for applications such as gold extraction, water purification, and filter cartridges has accelerated, especially for gold charcoal, which has received more inquiries from the African market; The shipment of fruit shell charcoal is smooth. There is a recent rebound trend in imported carbide materials, so pay more attention to the transaction situation.
Prediction: The purchasing and sales atmosphere in the activated carbon market is positive, and it is expected that the price of activated carbon will mainly fluctuate with a strong trend in the short term.

This week, the price of isooctanol fluctuated and fell

According to the Commodity Market Analysis System of Shengyi Society, as of April 14th, the price of isooctanol was 7466.67 yuan/ton, a fluctuating decrease of 4.88% compared to the price of 7850 yuan/ton on April 4th. The production capacity of isooctanol enterprises has increased, with stable operation and sufficient supply from isooctanol manufacturers; Plasticizer manufacturers are operating at low levels, and demand for isooctanol is weak. The downward pressure on isooctanol still exists, and the upward support is weakened.
Downstream plasticizer DOP prices fluctuated and fell this week
According to the Commodity Market Analysis System of Shengyi Society, as of April 14th, the DOP price was 8159.17 yuan/ton, a fluctuating decrease of 1.56% from the April 7th DOP price of 8288.75 yuan/ton. The expected start-up of plasticizer DOP enterprises has decreased, the production of plasticizer DOP has decreased, the demand for isooctanol is weak, the support for isooctanol demand has weakened, and the downward pressure on isooctanol has increased.
Future expectations
According to the data analyst of Shengyi Society’s octanol product, the expected production of plasticizer enterprises has decreased, downstream demand for isooctanol is weak, production capacity of isooctanol manufacturers has increased, isooctanol enterprises have stable production, and isooctanol supply is sufficient. The strong supply and weak demand of isooctanol are expected to lead to a volatile decline in the future price of isooctanol.

1、 Price trend

According to the monitoring of the Commodity Market Analysis System of Shengyi Society, the futures market has generally declined due to the impact of US tariff policies. This week (4.7-11), the PVC spot market price followed suit and performed weakly. As of Friday, the average price of SG-5 PVC carbide method in China was 4808 yuan/ton, with a price drop of 1.84% during the week.
2、 Market analysis
This week, PVC prices first fell and then rose. At the beginning of the week, due to the negative impact of US tariff policies, the stock and futures markets generally declined. The PVC futures market fell significantly, and the spot market was also suppressed. The market generally fell by around 100 yuan/ton. On the one hand, the lack of favorable fundamentals has led to a sharp drop in crude oil prices and a downturn in the futures market. On the other hand, in terms of supply and demand fundamentals, the spot PVC market has shown loose supply and demand, and most manufacturers are operating stably. The supply pressure has not changed much, dealers’ offers are generally weak, downstream demand performance is insufficient, downstream procurement is mainly based on spot prices, inquiry and procurement enthusiasm is not high, and the market atmosphere is sluggish. The hanging order price is relatively low. Overall, it is still mainly driven by basic needs, and the trading atmosphere is average. On Friday, the market oversold the range, and due to the rebound of the stock and futures markets, PVC spot also rebounded, but did not break through the previous decline. As of now, the quotation range for PVC SG5 electrical aggregate in China is mostly around 4750-4850 yuan/ton.
In terms of upstream calcium carbide, since April, the market price of calcium carbide has stabilized and risen. This week, the price increase was weak, and the price has stabilized. According to the commodity analysis system of Shengyi Society, the price fluctuation this week was 0. But the overall increase in April exceeded 5%, providing some cost support for PVC. It also restricts the downward space of PVC.
3、 Future forecast
The PVC analyst from Shengyi Society believes that the supply and demand performance of the PVC spot market is stable. Although it is affected by fluctuations in the international economic environment in the short term, in the medium term, the market will gradually return to fundamentals. It is expected that PVC prices will continue to maintain a range adjustment pattern next week.

According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market has fluctuated upward this week. From March 31 to April 7, 2025, the price of mixed xylene has increased from 6340 yuan/ton to 6420 yuan/ton, an increase of 1.26%. As the holiday season approaches, downstream purchasing intentions are still acceptable, and companies actively enter the market for inquiries. The market trading situation is good, and refineries in Shandong generally operate with low inventory levels. The supply in East China is relatively loose, leading to a decline in market disinfection. The price increase of Sinopec in the South China region has driven the spot market prices to strengthen, but the market trading is weak, and downstream demand is increasing.

Cost wise: International crude oil futures plummeted on April 4th. The settlement price of the main contract for WTI crude oil futures in the United States was $61.99 per barrel, a decrease of $4.96 or 7.4%. The settlement price of the main Brent crude oil futures contract was $65.58 per barrel, a decrease of $4.56 or 6.5%. Affected by US tariff policies, oil prices have plummeted for two consecutive trading days, with WTI experiencing a cumulative drop of nearly $10. Investors are concerned about the risk of economic recession caused by the escalation of global trade conflicts. According to crude oil analysts from Shengyi Society, based on the subsequent impact of current US tariff policies, crude oil may enter a new cycle in the long term. The supply-demand balance may be disrupted and enter the process of rebalancing again. In the short term, given that countries are attempting to negotiate lower tariffs or impose retaliatory tariffs, tariffs may change and oil prices may fluctuate significantly in the short term.
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 April 7th, East China Company quoted 6400 yuan/ton, North China Company quoted 6200-6300 yuan/ton, South China Company quoted 6550-6600 yuan/ton, and Central China Company quoted 6150-6350 yuan/ton.
Demand side:
On April 7th, the price of xylene in the petrochemical sales company was temporarily stable, and the current execution price is 7200 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and selling normally, with a price reduction of 400 yuan/ton compared to March 28th. As of April 4th, the closing prices of the xylene market in Asia were $778-780 per ton FOB Korea and $803-805 per ton CFR China.
Market forecast: Affected by the news of US tariffs, the overall commodity market will weaken, crude oil prices will significantly decline, and the atmosphere in the spot market will be weak. The sales situation in Shandong region is good, and inventory is running at a low level. As the market atmosphere weakens, downstream wait-and-see sentiment is strong, and the demand side is bearish. Overall, the market atmosphere is relatively weak, with factory quotes generally decreasing this week. Downstream purchases are mostly on the wait-and-see side, with limited price support. It is expected that the market will operate weakly in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on April 3 was 960 yuan/ton, an increase of 2.86% compared to the average price of 933 yuan/ton on March 31.
2、 Market analysis
This week, the domestic ammonium sulfate market prices have shown a strong upward trend. The operating rate of coking enterprises remains stable, while the operating rate of their own facilities has decreased. Recently, the international urea market has risen, which indirectly benefits the ammonium sulfate market. At present, the bullish sentiment in the market has increased, and downstream procurement enthusiasm has improved, resulting in good trading in the ammonium sulfate market. As of April 3rd, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 880 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 940-980 yuan/ton.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the ammonium sulfate market has been trending upwards recently. At present, the supply of ammonium sulfate in the market is decreasing, downstream demand is stable, and manufacturers and distributors are mainly raising prices. It is expected that the domestic ammonium sulfate market price will remain stable and rise in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic formic acid market has been operating steadily recently. As of April 1st, the average price of industrial grade 85% formic acid in China was 3325 yuan/ton, an increase of 12.7% from 2950 yuan/ton at the beginning of the year and an increase of 0.76% from 3300 yuan/ton in the same period last year, which is at a high level for the year.

In terms of cost: Upstream caustic soda prices were weak last week (03.24-03.30). According to monitoring data, the caustic soda price in Shandong at the end of the month was 907 yuan/yuan, a decrease of 3.1% from the beginning of the month.
Upstream liquid ammonia, caustic soda prices were weak last week (03.24-03.30). According to monitoring data, the price of liquid ammonia in Shandong region was 2729 yuan/yuan at the end of the month, a decrease of 5.32% during the week.
Market wise: Recently, the domestic industrial grade 85% formic acid market price has been stable. The prices of upstream raw materials such as liquid ammonia and caustic soda are running weakly, with little impact on the cost aspect. The shipment of enterprises is still acceptable. Downstream industries such as pharmaceuticals, rubber, leather, and pesticides purchase goods on a per order basis based on market demand, and the overall market prices are running steadily without significant fluctuations.
In summary, the domestic formic acid market has maintained stable operation recently. At present, the cost impact is limited, and downstream purchases are made on demand. Market transactions are still acceptable. It is expected that in the short term, the domestic industrial grade 85% formic acid market will remain stable, and more attention should be paid to downstream stocking demand.

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 March, and overall the price fell. On March 1st, the average price of isopropanol in China was 6670 yuan/ton, and on March 31st, the average price was 6650 yuan/ton, a decrease of 0.3% compared to the beginning of the month.

In March, the market price of isopropanol first rose and then fell, indicating an overall decline in prices. In the first ten days of the month, the main factories in Shandong stopped production, and the ex factory prices increased. Confidence in the market improved, and holders of goods pushed up prices one after another. In the middle of the month, the price of raw material acetone fell, and there was a lack of confidence in the isopropanol market within the market. The trading atmosphere was poor, and holders offered discounts for shipments. In the latter half of the month, confidence in the market was average, cost support was insufficient, market enthusiasm was average, and the focus of negotiations was mainly on maintaining stability. As of now, most of the isopropanol market prices in Shandong are around 6550-6600 yuan/ton; Most of the quotations in the isopropanol market in Jiangsu and Zhejiang regions are around 6700-6750 yuan/ton based on market reference prices.
In terms of raw material acetone, the domestic acetone market price fluctuated and fell in March. On March 1st, the average price of acetone was 6477.5 yuan/ton, and on March 31st, the average price was 6152.5 yuan/ton, a decrease of 5.02% in price. The weak downward trend of raw material pure benzene has significantly weakened cost support, exacerbating the market’s wait-and-see atmosphere and putting pressure on traders’ mentality, leading to a broad downward trend in the market. It is expected that the downstream acetone market will experience slight fluctuations in the short term.
In terms of propylene, the domestic propylene market fluctuated and fell in March. On March 1st, the market average was 6813.25 yuan/ton, and on March 31st, the average price was 6745.75 yuan/ton, a decrease of 0.99% in price. At present, there is a lack of positive news to boost the propylene market, and downstream consumers are adopting a wait-and-see approach and purchasing at lower prices according to demand. It is expected that propylene will experience weak fluctuations and consolidation in the short term.
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 March. At present, the enthusiasm for downstream procurement is average, and actual market transactions need to be followed up. The confidence of holders is average, and on-site negotiations tend to be low-end. It is expected that in the short term, isopropanol will be more cautious and the market will be weak, with a focus on consolidation and operation.

According to the Commodity Analysis System of Shengyi Society, the styrene market continued to decline this week, with an average price of 8314 yuan/ton at the beginning of the week and 8260 yuan/ton over the weekend, a decrease of 0.65% during the week.

News: On March 27th, international crude oil futures closed higher. The settlement price of the main contract for WTI crude oil futures in the United States was $69.92 per barrel, an increase of $0.27 or 0.4%. The settlement price of the main Brent crude oil futures contract was $73.34 per barrel, an increase of $0.28 or 0.4%.
Cost wise: Pure benzene continued to decline this week, with increased supply from imported sources and weak downstream consumption, putting pressure on prices. Holders are actively shipping, while downstream demand for gas is average, and market prices continue to decline.
Supply and demand side: The negative impact of the styrene plant has led to a slight increase in production, while port inventory remains high and the market supply is sufficient. Downstream 3D companies face significant inventory pressure, resulting in limited demand growth due to profit sharing.
Styrene external market: On the 27th, the closing price of styrene in the Asian US dollar market rose by $10/ton, FOB Korea 960-970 USD/ton, CFR China 970-980 USD/ton.
Market forecast: Entering the maintenance peak season for styrene in April, supply is expected to tighten, but cost support is insufficient, which will constrain the styrene market. It is expected that styrene will experience narrow range fluctuations in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has slightly declined since March. As of March 27th, the spot rubber market price in China’s natural rubber market was around 16556 yuan/ton, a decrease of 3.55% from 17166 yuan/ton at the beginning of the month. The downstream tire production in March has slightly increased compared to the end of February, providing support for the demand for natural rubber; The natural rubber raw material market has slightly fallen from a high level, and the cost of natural rubber still has support; With the gradual transition of natural rubber supply from low production period to high production period at home and abroad, the import volume of natural rubber to ports has increased, and the domestic natural rubber inventory continues to increase slightly, which has a negative impact on the natural rubber market.

At present, foreign natural rubber supply is gradually entering an increasing production period from a low production period. The Yunnan production area in China will be the first to enter a trial cutting period, while production areas such as Hainan, Vietnam, and northeastern Thailand in China will still stop cutting. The current price of natural rubber raw materials is still high, and it is expected to decline in the future. As of March 24th, the price of Thai glue was 68.00 baht/kg, a slight decrease of 3.55% from 70.50 baht/kg on February 26th.
The natural rubber inventory continued to increase slightly in March, which had a bearish impact on the natural rubber market. As of March 23, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 602300 tons, an increase of 3.06% from 584400 tons on March 2.
Since March, the overall production of downstream tires has remained stable, with demand facing the urgent support of the natural rubber market. As of March 21st, the operating load of semi steel tires in domestic tire enterprises is around 8.30%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 6.9% of the load.
Market forecast: The expected supply of raw materials from domestic and foreign production areas is gradually increasing, and the cost of natural rubber is expected to decline in the later period; Downstream production remains stable at a high level, providing essential support for natural rubber demand; However, the inventory at Tianjiao Port remains high and has recently shown a slight increase trend; Overall, it is expected that the natural rubber market will continue to decline slightly in the later period.