According to the Commodity Market Analysis System of Business Society, the spot price of lithium carbonate has continued to decline recently. As of May 27th, the benchmark price of domestic battery grade lithium carbonate business society is 62200 yuan/ton, a decrease of 9.77% from the beginning of the month; The benchmark price of domestic industrial grade lithium carbonate trading company is 60933 yuan/ton, a decrease of 10.26% from the beginning of the month.

On May 26th, the main contract LC2507 for lithium carbonate futures fell below the 60000 yuan/ton mark during trading, dropping to 59920 yuan/ton, and then slightly rebounded, closing at 60100 yuan/ton.
The recent pattern of oversupply of lithium carbonate has not changed, and although the weekly production has decreased, it is still at a high level. On the demand side: Currently, there is a pattern of “stock substitution” between fuel vehicles and new energy vehicles, and the demand side will usher in a low season. The expectation is not optimistic.
The data analyst of Shengyi Society believes that lithium carbonate is currently in the stage of clearing production capacity, with prices gradually declining. The supply side will gradually reduce production, but the mining side’s production reduction is only a signal to stop the decline. The long-term oversupply market pattern suppresses the rebound space of lithium carbonate prices, and it is expected that lithium carbonate will fluctuate in the short term.

1、 Price trend

Taking the sulfuric acid method gold red stone type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the price of titanium dioxide in the domestic market has remained stable this week. The average price of titanium dioxide is 15080 yuan/ton.
2、 Market analysis
The domestic titanium dioxide market price has remained stable this week. Internationally, due to the impact of India’s anti-dumping measures, market exports are relatively weak. The domestic market is weak, downstream market demand is poor, and new order transactions are limited. The upstream titanium concentrate market is operating weakly, with a slight increase in sulfuric acid prices and average cost support. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 14000-15600 yuan/ton; Sharp titanium type costs around 12700-13000 yuan/ton; The actual transaction price is negotiable.
In terms of titanium concentrate, the price of titanium concentrate has been weak this week. At present, downstream demand for titanium dioxide is weak, with light new orders and cautious procurement of raw materials. The main focus is on observing and observing, with mining companies facing significant shipping pressure and overall market prices remaining weak and stable. As of now, the transaction price of 46,10 titanium ore for small and medium-sized manufacturers is between 1870-2100 yuan/ton; The price of 47,20 ore ranges from 2150-2250 yuan/ton; The price of 38 titanium ore excluding tax is around 1150-1120 yuan/ton. It is expected that the mainstream titanium mines in the Panxi region will operate weakly and steadily in the short term.
3、 Future forecast
The titanium dioxide analyst from Shengyi Society believes that the domestic titanium dioxide market price is temporarily stable this week. The market has entered the off-season, and there is significant pressure on companies to ship. The slight increase in raw material prices has put pressure on enterprise costs. Overall, the titanium dioxide market is in a stalemate, and actual orders are cautious. It is expected that in the short term, the market situation of titanium dioxide will be mainly wait-and-see, and the actual transaction price will be subject to negotiation.

According to the Commodity Market Analysis System of Shengyi Society, as of May 23, the average price of PTA market in East China was 4912 yuan/ton, a decrease of 1.89% from May 16.

The weakening of raw material support has led to a decline in international crude oil prices. On May 22, the settlement price of the main contract for WTI crude oil futures in the United States was $61.20 per barrel, and the settlement price of the main contract for Brent crude oil futures was $64.44 per barrel. The malfunctioning devices in the early stage of the PX market have gradually recovered, coupled with the expectation of weakening demand, resulting in a weak performance of the PX market’s high-level decline.
In addition, there were many restarts of maintenance equipment in the early stage of the PTA market, resulting in a slight increase in domestic supply. The downstream polyester end is expected to be pessimistic, with insufficient cost support and a lack of favorable support.
The risk of insufficient orders and unstable cost support from downstream textile enterprises has increased. They are cautious in pursuing high raw material procurement, maintaining on-demand procurement, and adopting a wait-and-see attitude.
Business analysts believe that the restart of early-stage maintenance equipment will increase PTA’s own production. International oil prices have loosened, and there is an expectation of a decline in cost side inventory, while demand remains rigid. The terminal performance is lukewarm, and there is a certain negative impact on the demand side due to seasonal factors. The PTA market is expected to maintain downward pressure in the short term.

According to the Commodity Market Analysis System of Shengyi Society, on May 21st, the reference price for cyclohexanone market in Shandong Province was 7500 yuan/ton. Compared with May 16th (reference price for cyclohexanone market was 7575 yuan/ton), the price has decreased by 75 yuan/ton, a decrease of 0.99%.
From the commodity market analysis system of Shengyi Society, it can be seen that this week, the cyclohexanone market in Shandong Province, China, has been weakly declining. During the week, some cyclohexanone factories in Shandong province lowered the price of cyclohexanone by 100 yuan/ton. The price adjustment by major factories has led to a downward shift in the overall negotiation focus of the market. As of May 21st, the cyclohexanone market price in Shandong province is around 7450-7550 yuan/ton.

Analysis of Market Factors
In terms of supply and demand: Currently, there is little change in the supply side of the cyclohexanone market, and the supply side is mainly stable. However, downstream demand is cautious, and demand follow-up is slow, with limited market support from the demand side.
Upstream: Currently, the market for pure benzene on the raw material side is weak and stable, which has loosened the cost support for cyclohexanone compared to the previous period. As of May 21st, the reference price for pure benzene is 5985.33 yuan/ton. .
Market analysis in the future
At present, the overall trading atmosphere in the cyclohexanone market is relatively weak. The cyclohexanone market has seen some upward adjustments in the early stage, and downstream companies are still following the current market conservatively. The cyclohexanone data analyst from Shengyi Society predicts that in the short term, the domestic cyclohexanone market will mainly undergo narrow adjustments, and specific changes in supply and demand information need to be closely monitored.

According to the Commodity Market Analysis System of Shengyi Society, from May 12th to 16th (as of 15:00), the average price of methanol in East China ports in the domestic market increased from 2402 yuan/ton to 2426 yuan/ton, with a price increase of 0.99% during the period, a month on month decrease of 0.97%, and a year-on-year decrease of 15.29%. The domestic methanol market is mainly on the rise. Boosted by macro positive factors, coupled with the shutdown of some facilities in the main methanol market in the Middle East, market sentiment has improved. The domestic methanol market as a whole is dominated, but downstream consumers are resistant to high prices after the rise.
As of the close on May 16th, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2509, opened at 2315 yuan/ton, with a highest price of 2324 yuan/ton and a lowest price of 2282 yuan/ton. It closed at 2284 yuan/ton in the closing session, a decrease of 52 yuan or 2.23% from the previous trading day’s settlement. The trading volume is 617501 lots, the position is 717983 lots, and the daily increase is -16335 lots.
In terms of cost, the thermal coal market has been operating weakly recently. Most coal mines in the main production area maintain a normal mining rhythm, and the market is in a state of strong supply and weak demand. The pace of performance by long-term coal suppliers has slightly slowed down, with coal prices from production areas and large group purchases falling by 5-20 yuan. The cost of methanol is influenced by negative factors.
Demand side, downstream acetic acid: expected increase in acetic acid demand; Downstream formaldehyde: expected increase in formaldehyde demand; The dimethyl ether and chloride industries currently have no clear plans to start, stop, or reduce production, and there is little fluctuation in demand for methanol. The majority of downstream demand for methanol has increased, and the demand for methanol is influenced by favorable factors.
On the supply side, the overall loss of equipment exceeds the recovery amount, and the utilization rate of production capacity decreases. The supply of methanol is affected by favorable factors.
In terms of external trading, as of the close on May 15th, the CFR Southeast Asian methanol market closed at $331.50-332.50 per ton, a decrease of $8 per ton. The closing price of the US Gulf methanol market was 84.00-85.00 cents/gallon, down 1 cent/gallon; The closing price of FOB Rotterdam methanol market is 243.50-244.50 euros/ton, up 1 euro/ton.
In the future forecast, the supply pattern is loose, and traditional demand performance is average. Business Society’s methanol analyst predicts that the domestic methanol spot market is mainly weak.

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 12166 yuan/ton, and the price of activated carbon at the end of the week was 12233/ton, with a price increase of 0.55%.

Most domestic manufacturers have stable quotes for activated carbon this week, with some rising. The ex factory price of activated carbon for coconut shell water purification in East China is between 8800-13000 yuan/ton, and downstream market inquiries have increased, leading to faster shipment.
The shipment of coconut shell charcoal for applications such as gold extraction, water purification, and filter cartridges has accelerated, especially for gold charcoal, with an increase in inquiries from the African market; The shipment of fruit shell charcoal is accelerating. There is a recent rebound trend in imported carbide materials, so pay more attention to the transaction situation.
Prediction: The trading atmosphere in the activated carbon market is active, and it is expected that the price of activated carbon will mainly fluctuate with a strong trend in the short term.

In May, the price of ethylene glycol stopped falling and rebounded
The price of ethylene glycol will stop falling and rebound in May 2025. According to data from Shengyi Society, as of May 14th, the average price of domestic oil to ethylene glycol was 4536.67 yuan/ton, an increase of 4.73% compared to the average price of 4331.67 yuan/ton on May 1st.
On May 14, 2025, the trading of spot contracts for ethylene glycol at the port rebounded, with obvious follow-up buying, and a transaction range of 4580-4620 yuan/ton. In terms of basis, the intraday trading was initially strong and then weak. Yesterday night, due to the impact of device news, the pre market basis quotation for spot contracts this week was 170-200, but in night trading it fell back to 145-150. Today, the daily operating range for spot contracts this week is+115 to+150; After the close of trading, the contract basis price for this week ranges from+115 to+120. The contract basis price for May ranges from+115 to+120, the contract basis price for June ranges from+95 to+100, and the contract basis price for July ranges from+75 to+85.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4050-4150 yuan/ton.
In terms of external ethylene glycol, as of May 12th, the landed price of ethylene glycol in China is 508 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia is 503 US dollars/ton.
Port inventory slightly decreased in May
From January to mid February, there was a significant accumulation of ethylene glycol inventory in the port, and from March to May, the port inventory fluctuated horizontally. On May 12, 2025, the total inventory of ethylene glycol in the main port of East China was 656100 tons, a decrease of 44800 tons from the total inventory of 700900 tons on April 28; The total inventory as of December 30, 2024 was 397300 tons, an increase of 258800 tons.
The recent upward trend is driven by:
1. Macro sentiment is positive, and cost support is strengthened
The phase of China US tariff negotiations is favorable, and market sentiment is high.
On May 12th, China and the United States issued a joint statement on the China US Geneva Economic and Trade Talks, which includes the following key points: 1) The United States will reduce the 125% “equivalent tariff” imposed on China in this round to 34% when it was initially announced on April 2nd, with 24% of tariffs suspended for 90 days and the remaining 10% tariffs retained. Within 90 days of the implementation of the “equivalent tariffs”, the United States has reduced its tariffs on China by 115%. The current average tariff rate is: the weighted average tariff rate before Trump took office is about 10%+the “analgesic tariff” of 20%+the “equivalent tariff” of 10%=about 40%. The tariff rate after 90 days of the “equivalent tariff” taking effect, that is, after July 9th, depends on the negotiation process in the future.
China’s reciprocal operation will reduce the 125% tariff on US countermeasures to 34%, suspend 24% of the tariff for 90 days, and retain the remaining 10% tariff. In addition, China has suspended or cancelled non-tariff countermeasures against the United States since April 2nd. Within 90 days of the effective implementation of the countermeasures, China’s tariffs on the United States have decreased by 115%. The current average tariff rate is: the weighted average tariff rate before Trump took office is about 15%+the overall weighted analgesic countermeasures tariff is about 5%+the equivalent countermeasures tariff is 10%=about 30%.
The Ministry of Finance has announced that starting from 12:01 pm on May 14, 2025, tariffs on imported goods originating in the United States will be adjusted. The relevant matters are as follows: Adjust the additional tariff rate stipulated in the “Announcement of the State Council Tariff Commission on Imposing Additional Tariffs on Imported Goods Originating in the United States” (Tariff Commission Announcement No. 4 of 2025) from 34% to 10%, and suspend the implementation of the 24% additional tariff rate on the United States for 90 days.
Benefiting from the positive news of tariffs between China and the United States, market sentiment is high, and crude oil prices have rebounded and risen, strengthening cost support.
2. Supply side news disrupts funds, pushing up the valuation of ethylene glycol
During dinner time yesterday, there were rumors in the market that Hengli Petrochemical’s ethylene unit had unexpectedly shut down for maintenance, and the supporting ethylene glycol 1.8 million ton unit had been repaired one month in advance, resulting in a reduction of 150000 tons in monthly supply. Coupled with the follow-up maintenance plans of companies such as Satellite Petrochemical, CNOOC Shell, and Shaanxi Yulin Chemical, the supply contraction in May and June has significantly increased, and the supply-demand gap has widened. Market sentiment is high, and price influencing factors are shifting and amplifying towards the supply and demand side.
Downstream feedback
Due to the recent rapid rise in raw material prices, the three major polyester filament manufacturers have unanimously decided to immediately implement a reduction in production for loss making varieties and have begun planning the next step of production reduction plans, which will be implemented in the short term.
Future forecast
In the short term, market sentiment is still high and there is a high probability of sideways fluctuations. Focus on the support of crude oil cost and changes in downstream operating rates.

1、 Market Overview

This week, the acrylic acid market showed a supply-demand game, and the overall operation remained stable. On the supply side, some manufacturers have adjusted their production plans to cope with changes in market demand; On the demand side, downstream users also exhibit a certain degree of flexibility in their procurement strategies.
As of May 13th, the benchmark price of acrylic acid in Shengyi Society was 7500.00 yuan/ton, a decrease of -0.44% compared to the beginning of this month (7533.33 yuan/ton).. Compared to last week, the fluctuation is relatively small. Price fluctuations are mainly influenced by factors such as supply and demand, raw material prices, and market competition.
Market mentality: On the supplier side, some manufacturers are optimistic about the future market due to low inventory pressure; However, some manufacturers are cautious about the future market due to insufficient market demand. In terms of downstream users, procurement strategies exhibit a certain degree of flexibility due to factors such as procurement costs and market competition.
2、 Supply side
This week, the prices of the main raw materials for acrylic acid have remained relatively stable with minimal fluctuations. As of May 13th, the benchmark price of propylene in Shengyi Society was 6688.25 yuan/ton, an increase of 1.79% compared to the beginning of this month (6570.75 yuan/ton). The impact on the production cost of acrylic acid is limited.
3、 Demand side
Downstream demand: The overall downstream demand for acrylic acid remained stable this week, with some areas such as coatings and SAP industries showing certain growth potential. The paint industry has seen an increase in procurement volume due to the rebound of real estate completion; The SAP industry has experienced a decline in order volume due to the off-season demand for diapers.
Export situation: The export volume of acrylic acid remained stable this week, and some producers are expanding overseas markets to digest domestic overcapacity. In terms of export prices, affected by international market competition, the export price of acrylic acid has slightly decreased this week, but it still remains at a reasonable level.
4、 Future prospects
Looking ahead, the acrylic acid market will still face challenges from the supply-demand game. On the supply side, manufacturers need to continue optimizing production plans, reducing costs, and improving product quality; On the demand side, downstream users need to actively explore the market and increase product added value. Therefore, market participants need to closely monitor market dynamics and policy changes in order to develop more scientific and reasonable market strategies.
In summary, the acrylic acid market has maintained stable operation this week under the game of supply and demand. The future market will still face many challenges and uncertainties, requiring market participants to respond flexibly.

After the holiday, the phthalic anhydride market fluctuated and fell

According to the Commodity Market Analysis System of Shengyi Society, as of May 12th, the price of phthalic anhydride in neighboring countries was 7150 yuan/ton, a fluctuating decrease of 3.81% compared to the price of 7433.33 yuan/ton on April 1st. In April, the equipment production of phthalic anhydride enterprises slowly resumed, and the supply of phthalic anhydride increased; Downstream demand for plasticizers is weak, and the price of phthalic anhydride is fluctuating and falling.
Supply side: resumption of work and increased supply
The phthalic anhydride plant resumed gradually in April, and the capacity utilization rate of the domestic phthalic anhydride industry increased. The capacity utilization rate of the naphthalene phthalic anhydride industry remained stable; The utilization rate of production capacity in the domestic phthalic anhydride industry has slowly recovered, and the supply of phthalic anhydride has increased.
Demand side: DOP market is fluctuating and falling
According to the Commodity Market Analysis System of Shengyi Society, as of May 12th, the DOP price was 8166.66 yuan/ton, a fluctuating decrease of 1.47% from the April 1st DOP price of 8288.75 yuan/ton. The operating rate of plasticizer DOP enterprises has dropped to about 50%, the production of plasticizer DOP has decreased, the downstream demand for phthalic anhydride is weak, and the downward pressure on phthalic anhydride prices has increased.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of supply, phthalic anhydride manufacturers are slowly resuming production, and the supply of phthalic anhydride is increasing; In terms of demand, DOP manufacturers have low operating loads and weak demand for phthalic anhydride. In the future, with strong supply and weak demand, it is expected that the price of phthalic anhydride will fluctuate and fall.

The domestic fluorite price trend has slightly declined this week. As of the weekend, the average domestic fluorite price was 3656.25 yuan/ton, a decrease of 1.35% from the early week price of 3706.25 yuan/ton and a year-on-year decrease of 0.85%.

Supply side: Some manufacturers have started production, and the supply of fluorite has increased
The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite sources is still tight. However, as the temperature rises, northern enterprises are gradually starting production, and the supply of fluorite from on-site enterprises has increased. This week, the fluorite market has slightly declined.
Demand side: The price of hydrofluoric acid is temporarily stable, and the refrigerant market is still acceptable
This week, the domestic price of hydrofluoric acid has remained stable, with mainstream prices ranging from 11200-11700 yuan/ton in various regions of China. Some downstream hydrofluoric acid units are still shut down, and there is little change in the spot supply of hydrofluoric acid. Manufacturers mainly purchase hydrofluoric acid on demand, and the overall production of hydrofluoric acid remains at more than 50%. Fluorine enterprises maintain essential orders, and hydrofluoric acid enterprises are in a loss making state. They are not actively purchasing raw fluorite. Recently, some hydrofluoric acid manufacturers have shown a downward trend, which has slightly affected the price of fluorite.
The downstream refrigerant market in the terminal industry is still promising, and the terminal policy of the refrigerant industry is being strengthened. Demand is expected to achieve substantial improvement. Fluorine chemical enterprises within quota control have strong confidence in raising prices in the refrigerant market. Currently, the pace of high price procurement is relatively slow, but the industry inventory is transmitting in a positive and orderly manner. Due to high prices, the enthusiasm for stocking up in the terminal industry is low, and upstream products are mainly purchased on demand. The trend of refrigerant market is average, while the fluorite market has slightly declined.
In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as in national defense, nuclear industry and other fields, including lithium hexafluorophosphate, PVDF、 Graphite negative electrodes, photovoltaic panels, etc., have received certain support in the application of fluorite due to the demand for new energy and semiconductors.
Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production and undergone safety inspections. The tight supply of fluorite mines is a positive support for the fluorite market. However, in some areas, the lack of active fluorite procurement has led to an increase in inventory. In addition, downstream resistance to high prices is severe, and hydrofluoric acid enterprises mainly purchase on demand, with no actual increase in demand. Overall, the fluorite market price has slightly decreased in the short term.