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.

price trend

In the past week (January 31 to February 6, 2026), the PA66 market has stabilized after a slight appearance, and the trading atmosphere in the market has remained stable. On February 6th, the benchmark price of PA66 by Shengyi Society was reported at 15666.67 yuan/ton, an increase of 0.64% compared to 15566.67 on January 31st. This week, the market for succinic acid has continued to rise, with increased trading volume. PA66 enterprises have increased maintenance, slightly reduced production, weak downstream demand, and mainly focused on essential procurement.
influencing factors
In terms of cost:
This week, the market for succinic acid continues to steadily rise. The average market price rose from 8066 yuan/ton on February 1st to 8333 yuan/ton on February 5th, an increase of about 3.31%.
Supply side:
The overall operating rate of PA66 polymerization plants in China remained stable this week, with relatively sufficient spot supply and moderate inventory levels among traders.
In terms of demand:
This week, downstream textile industry demand remained flat, with rigid procurement still being the main focus. The Spring Festival holiday is approaching, and the pace of production activities for terminal enterprises is slowing down. As we enter the holiday schedule, the willingness to stock up in bulk is not strong, and the market trading atmosphere is lukewarm.
Future forecast
In the future, it is expected that the PA66 market will maintain a stable and strong trend in the short term. The prices of raw materials adipic acid and hexamethylenediamine remain high, providing cost support. During the Spring Festival, some companies may have reduced production arrangements, and supply may be slightly tightened. At the same time, the demand for downstream replenishment during the Spring Festival holiday will also weaken. Pay attention to the pace of resuming work after the Spring Festival and the trend of upstream market conditions.

Price trend (1.17-2.2)

The overall formaldehyde industry in Shandong is operating at a low level under the dual pressure of cost reduction and weak demand, with continuous losses and a lack of clear direction in the market.
According to the monitoring of the commodity market analysis system of Shengyi Society, as of February 2nd, the average price of formaldehyde in Shandong Province was reported at 1023 yuan/ton, a decrease of 0.24% during the period and a year-on-year decrease of 11.07%.
Cost and profit: Poor transmission of costs leads to deep losses in the industry
The main raw material methanol price center has risen. As of February 2nd, the benchmark price of methanol in Shengyi Society was 2265 yuan/ton, an increase of 0.63% during the cycle, but it has not effectively driven the formaldehyde market. The two show a divergent trend of rising raw materials and falling products. Costs are rising, but prices are falling due to weak demand, and profits are continuously squeezed.
Supply and demand situation: synchronous reduction of supply and demand, with demand being the core drag
·On the supply side, the industry’s willingness to start production is insufficient, and the capacity utilization rate has dropped to 33.32%. As the Spring Festival approaches, enterprises will focus on reducing load and discharging inventory, and some facilities are planned to be shut down for maintenance from the end of January to early February. Despite the contraction in supply, the spot supply in the market remains abundant due to weaker demand.
·On the demand side: Weak demand is the core factor that suppresses the market.
According to the monitoring of the rise and fall of the 8 major industry indices by Shengyi Society, the building materials industry is the only sector that has experienced a month on month decline, with the index falling 1.13% at the end of January. Before the traditional Spring Festival holiday, downstream construction sites and home decoration demand entered the off-season, coupled with cold weather affecting construction progress, resulting in a significant decrease in procurement volume. The sustained downturn in the real estate industry has also dragged down the overall demand for building materials. The downstream artificial board industry of formaldehyde is mainly affected by industries such as real estate, and demand continues to shrink, only maintaining rigid procurement. Other downstream products such as formaldehyde mainly rely on digesting self-produced formaldehyde. The downstream stocking willingness is not strong before the Spring Festival, and sellers are actively shipping to control inventory.
Short term outlook
Recently, the formaldehyde market in Shandong has been struggling to operate during the traditional off-season. The industry is passively reducing its load in the face of losses, while the sustained weakness in terminal demand has led to a lack of rebound momentum in the market. In the short term, due to the impact of the Spring Festival holiday, demand will continue to remain at freezing point, and prices are likely to remain weakly volatile. Whether the market can break the deadlock depends on whether the downstream sheet metal industry’s production and stocking situation has improved beyond expectations.