According to the Commodity Market Analysis System of Shengyi Society, the domestic butadiene market will first rise and then fall in May 2025, with an overall upward trend. From May 1st to 28th, the domestic butadiene market price increased from 9066.67 yuan/ton to 9800 yuan/ton, with a price increase of 8.09% during the period.

In the first half of the month, the domestic butadiene market saw a significant increase, boosted by macroeconomic factors such as tariffs, which boosted the atmosphere in the spot market. Due to unplanned maintenance of some equipment and tight port supply this week, the supply of butadiene in the market has become tight. Holders of goods have a strong mentality of raising prices and are reluctant to sell, resulting in a significant increase in auction prices during the week. The butadiene market has rapidly heated up, but as prices continue to rise, downstream market enthusiasm has significantly decreased, and overall market prices have slightly fallen.
In the second half of the month, the overall weakness of the domestic butadiene market and the downstream synthetic rubber futures market dragged down the atmosphere of the spot market. Although there were some equipment maintenance and supply slightly decreased during the week, the pressure on the demand side had a greater impact on the market. The poor trading situation in the spot market ultimately dragged down the overall market price.
Cost wise: In May, international oil prices first fell and then rose, with an overall upward trend. As of the 26th, the US WTI crude oil market was closed, and the settlement price of the main Brent crude oil futures contract was $64.74 per barrel. On the one hand, the Middle East region has once again become tense, and this news is positive for the international oil market, with crude oil prices rising; On the other hand, the United States has increased its oil restrictions on a certain country, and the easing of tariffs between China and the United States has led to an increase in international oil prices.
Supply side: The listed prices of butadiene for various sales companies of Sinopec have overall declined this month, with a price of 9800 yuan/ton as of the 28th. Recently, the comprehensive operating rate of the domestic butadiene industry has not changed much, and the overall supply is relatively stable.
On the demand side: In May, the market for styrene butadiene rubber first rose and then fell, rising and falling. According to the Commodity Market Analysis System of Shengyi Society, as of May 29th, the price of styrene butadiene rubber in the East China market was 11966 yuan/ton, a decrease of 1.31% from 12125 yuan/ton at the beginning of the month and a decrease of 6.99% from the high point of 12866 yuan/ton during the cycle. The prices of raw materials butadiene and styrene first rose and then fell, and the cost support of styrene butadiene rubber weakened from strong to weak. After a significant increase in downstream tire production at the beginning of the month, the overall stability has been maintained, providing strong support for the demand for styrene butadiene rubber; Before the start of production of styrene butadiene rubber, the supply pressure slightly increased in the second half of the month. As of the 29th, the mainstream market price for styrene butadiene rubber in Fushun, Jihua, Yangzi, and Qilu in East China was around 11900-12200 yuan/ton.
Market forecast: Some domestic butadiene units are still under maintenance in the near future, and there is still some support in the supply side. However, downstream terminal procurement demand has always been weak, and with the continuous weakening of the synthetic rubber futures market, downstream entry enthusiasm is significantly low, lacking demand support. Under the atmosphere of supply and demand game, it is expected that the butadiene market will maintain a range oscillation trend in the short term.

Zinc price in May

According to the Commodity Market Analysis System of Shengyi Society, as of May 30th, the zinc price was 22738 yuan/ton, a decrease of 0.72% from the zinc price of 22904 yuan/ton on May 1st. The zinc price showed a frequent fluctuation and continuous downward trend in May.
The tight supply chain in the copper market is transmitted to the zinc market (the shortage of copper concentrate triggers a linkage effect of basic metals).
In terms of raw materials
The cost support has weakened, and the processing cost of zinc concentrate has dropped to the range of 21500-22000 yuan/ton (driven by the decline in energy prices), weakening the price bottom support.
Supply and demand side
Supply-demand imbalance
Supply side: Shanghai Futures Exchange zinc inventory has decreased to 2053 tons, but LME zinc inventory has also decreased to 170325 tons, reflecting a global supply contraction.
On the demand side, downstream industries such as galvanizing and alloys mainly rely on essential needs for procurement, with inventory turnover days reduced to 7-10 days (in Zhejiang and Guangdong regions).
Future forecast
From a fundamental perspective, the current market presents a pattern of increased supply and decreased demand. With the gradual increase in zinc ingot production, it is expected that the social inventory of zinc ingots may begin to accumulate, which may weaken the support for zinc prices and lead to certain downward pressure on zinc prices.

1、 Market price trend

1. Market price decline: Affected by supply and demand conditions, the acrylic acid market price has slightly declined this week. The specific price data may vary by region and different specifications, but the overall trend is downward. As of May 29th, the benchmark price of acrylic acid in Shengyi Society was 7966.67 yuan/ton, an increase of 0.21% compared to last week (7950.00 yuan/ton).
With the decline in market prices, low-priced acrylic products are gradually increasing in the market. This may further intensify market competition, leading some holders to continue lowering prices in order to seize market share.
2、 Supply situation
The load of the acrylic acid production plant has remained stable recently, which means that the supply in the market has not decreased due to production issues. However, this may also lead to the gradual accumulation of finished product inventory in the market.
Although the production equipment load is stable, the finished product inventory in the acrylic acid market is being digested. This may be due to a rebound in downstream demand or corresponding inventory management measures taken by manufacturers. However, the speed of inventory digestion may still be insufficient to prevent a decline in market prices.
3、 Demand situation
The main downstream application areas of acrylic acid include coatings, adhesives, textile printing and dyeing, etc. However, the demand for acrylic acid in these fields remained weak this week, with no clear signs of recovery. This may be due to a poor macroeconomic environment or some challenges faced by downstream industries themselves.
Due to weak downstream demand, the market’s short-term expectations for acrylic acid prices have not significantly improved. This may lead to a lack of confidence in the market among the holders, who may choose to sell at a lower price to quickly recoup their funds.
4、 Future forecast
It is expected that the domestic acrylic acid market will maintain a weak consolidation trend in the short term. This is mainly due to weak downstream demand and relatively stable supply in the market. Therefore, until there are obvious favorable factors, it may be difficult for the price of acrylic acid in the market to rebound significantly. However, it should also be noted that the market is always full of variables, and any policy adjustments, industry dynamics, or macroeconomic changes may have an impact on market prices.
In summary, the acrylic acid market continued its downward trend this week, mainly due to the results of the supply-demand game. In a situation where supply is relatively stable but demand is weak, it is difficult for market prices to rebound significantly. Therefore, cargo holders and downstream users need to closely monitor market dynamics and industry changes in order to develop reasonable procurement and sales strategies.

Recently, the asphalt market has seen a slight increase, but due to insufficient demand during peak season, the positive support is limited. According to monitoring data from Shengyi Society, the ex factory price of heavy-duty asphalt # 70 in Shandong Province was 3580 yuan/ton on May 20th, and as of the 28th, the price was 3620 yuan/ton, an increase of 40 yuan/ton. Overall, demand is gradually recovering and trading is good.

From the supply side, the operating rate of asphalt production facilities continues to rise, and the overall trend of gradually increasing in May continues. From a national perspective, the cumulative production in May was about 2.25 million tons. Although the overall spot supply is somewhat tight, the upward space for asphalt is limited.
From a demand perspective, the overall asphalt market is still gradually recovering, but the overall recovery situation is not as expected. From a seasonal perspective, the temperature in the north is warming up, and the demand level is expected to continue to rise until the third quarter. This is expected to be a strong support for the steady improvement of asphalt in the later period. However, with the arrival of the rainy season in the south, construction is limited, and overall demand is lower than expected.
From a cost perspective, crude oil prices are maintaining a fluctuating and slightly declining trend, and there is still a lack of obvious upward driving factors for crude oil in the future. In the short term, crude oil will continue to operate weakly, which will also exert some pressure on the trend of asphalt.
From the perspective of Shengyi Society, it is expected that the total output of asphalt in June will be 2.3 million tons, and the supply will continue to increase. The demand is mainly driven by basic needs, and the southern rainy season will suppress market demand. The peak season demand in North China is approaching, and the short-term expectation is relatively optimistic. Asphalt will also perform strongly in oil products in the short term.

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.