1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region fluctuated slightly this week. The price of pure benzene was 6186.67 yuan/ton on Monday and 6196.67 yuan/ton on Friday, with a price increase of 0.16% during the week.
2、 Market analysis
Pure benzene: The market price of pure benzene in Shandong region fluctuated slightly this week. Yesterday, international crude oil futures fell, and the pure benzene market had a bearish sentiment. The current weak operation of products in the chemical sector has weakened confidence in the pure benzene market; The overall buying momentum of Shandong Refining is weak, and transactions are cautious. Shandong Refining has maintained stable prices and orders today, while the East China market is weak and stable.
This week, Sinopec’s price has increased by 200 yuan/ton to 5500 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On February 5th, international crude oil futures fell. The settlement price of the March WTI crude oil futures contract in the United States was $63.29 per barrel, a decrease of $1.85 or 2.8%. The settlement price of Brent crude oil futures in April was $67.55 per barrel, a decrease of $1.91 or 2.8%.
Foreign pure benzene: On February 5th, foreign pure benzene: FOB Korea fell 4 to 776 US dollars/ton, CFR China fell 5 to 776 US dollars/ton. FOB Rotterdam fell 6 to $888 per ton, while FOB USG remained stable at 289 cents per gallon.
Overall expectation: The short-term pure benzene market is volatile and trading is cautious. Observe the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.

In January, the domestic bisphenol A market broke away from the weak trend at the end of the year and emerged from a recovery trend of “stabilizing first and then strengthening”. At the beginning of the month, the market was mainly characterized by fluctuations to maintain stability, with prices maintaining a range of consolidation; Since the second half of the year, the concentrated release and resonance of positive factors in cost, supply, and demand have directly driven the market to rebound rapidly, and prices have steadily risen. At the end of the month, the mainstream quotation rose to nearly 8000 yuan/ton.

In early January, there was no obvious unilateral trend in the domestic bisphenol A market, and long and short factors balanced each other, resulting in overall stable fluctuations. On the supply side, although some enterprises have entered the maintenance cycle and their short-term supply has slightly contracted, the market has strong expectations for the new production capacity of bisphenol A in 2026, and the shipping mentality of industry players is cautious, with weak willingness to proactively offer discounts, supporting market stability; On the cost side, the international oil price has not yet formed a sustained upward trend, and the upstream prices of pure benzene and phenol ketone are flat, which has limited cost support for bisphenol A; On the demand side, downstream industries are still in the end of the off-season, and there is insufficient follow-up on the demand for epoxy resin. The PC industry has not yet started large-scale procurement, and market transactions are light. The price of high-quality bisphenol A products in East China is close to 7500 yuan/ton, and the market maintains a stable trend under the long short game.
After the middle of the month, the negative factors that had previously balanced the market gradually dissipated, and the multiple positive factors of cost, supply, and demand continued to exert force, forming resonance. The domestic bisphenol A market completely reversed its volatile trend and embarked on a rapid rebound path. The cost side has become the core driving force, and the escalation of the US Iran situation has driven international oil prices to continue rising. US oil and Brent crude oil have respectively exceeded $60 and $65 per barrel, directly driving up the prices of upstream pure benzene and benzophenones. Phenol and acetone, as the core raw materials of bisphenol A, account for more than 70% of the production cost. The rigid increase in raw materials has pushed up the theoretical cost of bisphenol A, forcing the holders to firmly support the price. Positive news from the supply side has emerged simultaneously, with early maintenance equipment gradually recovering. However, some enterprises have been affected by tight raw material supply, resulting in lower than expected operating rates and no significant increase in market supply. The supply-demand pattern continues to improve. The demand side is gradually recovering, and the operating rates of downstream PC and epoxy resin industries are steadily increasing. Procurement demand continues to be released, and market transaction activity has significantly increased, further driving up prices.
From the perspective of Shengyi Society, the trend of the bisphenol A market stabilizing first and then strengthening in January is clear. The core driving force comes from the coordinated efforts of multiple positive factors, with cost bottoming out, supply tightening, and demand recovery forming a resonance, promoting the market to break away from the year-end weakness and achieve a steady rebound. In the short term, the bisphenol A market may continue to show a strong trend, and if the cost side oil price continues to operate at a high level, it will continue to provide support for the market; With the further increase in downstream industry operating rates, procurement demand is expected to continue to be released on the demand side. However, attention should be paid to the progress of new production capacity implementation and the risk of raw material price fluctuations, and the subsequent market trend still needs to focus on tracking changes in upstream and downstream fundamentals.

According to the Commodity Market Analysis System of Shengyi Society, from January 12th to 16th, the domestic ethanol price fell to 5411 yuan/ton, with a price decrease of 0.26% during the period, a month on month decrease of 0.14%, and a year-on-year increase of 3.91%. The domestic ethanol market has experienced a narrow decline, with slight regional differences. The main factories may experience reduced production, inventory pressure or profit sharing logistics, and there is a possibility of price decline.
On the cost side, the upward trend of corn prices is supported by high corn ethanol costs. The increase in on-site ethanol supply and the continued positive demand may further boost the possibility of ethanol price increases. However, the overall upward space is limited, with high costs and difficulty in improving profits. Bioethanol still operates at a loss. The cost of ethanol is influenced by favorable factors.
On the supply side, the utilization rate of ethanol production capacity remains at 61.67%. Negative factors affecting the ethanol supply side.
On the demand side, the demand for Baijiu and chemical industry improved, the terminal demand was boosted, and the overall demand rose. The demand for ethanol is influenced by favorable factors.
In the future forecast, there is a possibility of a decline in the operation of ethanol factories due to cost impact. However, based on the current inventory and negative market sentiment, as well as limited downstream demand, ethanol analysts from Shengyi Society predict that there is still a possibility of a short-term decline in the ethanol market.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the overall price of bromine has risen this month. The average market price at the beginning of the month was 33200 yuan/ton, and the average market price over the weekend was 36100 yuan/ton, with a price increase of 8.73% and a year-on-year increase of 64.84%. On December 30th, the Business Society Bromine Index was 125.61, unchanged from yesterday, a decrease of 48.77% from the highest point of 245.18 points (2021-10-27) during the cycle, and an increase of 113.19% from the lowest point of 58.92 points on October 29th, 2014. (Note: The cycle refers to the period from September 1, 2011 to present)
2、 Market analysis
This week, the price of bromine in Shandong region remained firm. The ex factory price of spot goods refers to 35500-36500 yuan/ton, and the current mainstream transaction price is 36000 yuan/ton. Due to weather and policy reasons, domestic bromine enterprises still have tight inventory and insufficient industry operating rates, but downstream enterprises have average purchasing enthusiasm. In terms of raw materials, domestic sulfur prices have been rising, with an average market price of 3867.67 yuan/ton at the beginning of the month and 3661 yuan/ton at the end of the month. The price has decreased by 5.34% and increased by 116.5% compared to the same period last year. Downstream demand is still acceptable.
Prediction: Bromine prices are expected to be strong this month, while upstream sulfur prices are expected to be weak this month. Bromine supply is tight in the near future, but downstream purchases are mostly based on demand, continuing the trend of rigid procurement. The overall market trading atmosphere is weak. It is expected that bromine will continue to consolidate and operate in the later period, depending on downstream market demand.

According to the commodity analysis system of Shengyi Society, the market for locally refined petroleum coke has significantly declined this week. As of December 26th, the price of locally refined petroleum coke in the Shandong market was 2540.75 yuan/ton, an increase of 3.99% from 2443.25 yuan/ton on December 22nd.

This week, the international crude oil market has risen, mainly due to the continued tense atmosphere of the US Venezuela situation, as well as the increasing instability of the Russia Ukraine situation. Concerns about potential supply risks are difficult to dispel, and international oil prices have risen.
This week, the overall market for refined petroleum coke has risen, with average shipments from refineries. Refinery petroleum coke prices have fluctuated, and some refineries have adjusted their indicators, resulting in significant changes in coke prices with the indicators; Downstream procurement is mainly based on demand, with limited support for the petroleum coke market. This week, there were many ships in the port, with high sulfur sponge coke being the most common. The shipping speed at the port was slower, and the inventory of petroleum coke at the port increased slightly.
This week, the market for medium and high sulfur calcined coke saw a slight increase, mainly due to the rise in upstream petroleum coke prices. Downstream procurement remained cautious, and companies were cautious about new orders. The price of medium and high sulfur calcined coke remained stable.
Market forecast: Currently, the transaction volume of petroleum coke in the local refining industry is average, and downstream aluminum carbon enterprises are operating well overall. The procurement of petroleum coke remains stable, and the demand for pre baked anodes is relatively stable. It is expected that petroleum coke will be consolidated in a narrow range in the near future.

The market price of epichlorohydrin has risen this week. According to the monitoring and analysis system of Shengyi Society, as of December 12th, the benchmark price of Shengyi Society’s epichlorohydrin was 11600 yuan/ton, an increase of 3.57% compared to the beginning of this month.
Price influencing factors:

Raw material side: This week, the price of raw material propylene is temporarily stable, while the price of glycerol continues to decline. The cost support of raw materials has weakened. Against the backdrop of early maintenance by production enterprises and overall inventory reduction in the industry, production enterprises are actively willing to raise prices. On December 10th, the market price in Jiangsu rose to around 11600 yuan/ton, an increase of 3.1% from December 4th. According to the market analysis system of Shengyi Society, as of December 12th, the benchmark price of propylene in Shengyi Society was 6220.75 yuan/ton, an increase of 0.65% compared to the beginning of this month (6180.75 yuan/ton).
Demand side: The downstream epoxy resin market has weak demand, with a cold trading atmosphere and a focus on small orders for essential needs. The willingness to accept high priced epichlorohydrin is limited, resulting in limited market trading volume.
Market forecast: Business Society’s epoxy chloropropane analyst believes that the cost side support for epoxy chloropropane will weaken, downstream demand will be weak, market trading atmosphere will be cold, epoxy chloropropane manufacturers’ mentality will be bearish, trading atmosphere will be cold, and small orders for first-time purchases will be the main focus. It is expected that the epoxy chloropropane market price will mainly consolidate in the later stage, and more attention still needs to be paid to changes in raw material prices and market supply and demand.

The price of isooctanol has risen significantly this week

According to the Commodity Market Analysis System of Shengyi Society, as of December 5th, the price of isooctanol was 7066.67 yuan/ton, a significant increase of 6.27% compared to the price of 6650 yuan/ton on December 1st. Some enterprises have undergone maintenance and repair of their isooctanol equipment, resulting in a decrease in the operating load of isooctanol facilities. The operating rate of isooctanol has dropped to 70%, and the supply of isooctanol is tight; The price of propylene is consolidating strongly, and the cost support of isooctanol still exists; The price of plasticizers has risen significantly, and the downstream demand for isooctanol has increased support; This week, the supply of isooctanol decreased, coupled with increased downstream support, and the upward support for isooctanol increased, resulting in a significant increase in isooctanol prices.
The production of isooctanol manufacturers has decreased
This week, the production of isooctanol manufacturers has slightly declined, with a domestic isooctanol production rate of 74%, a decrease of nearly 10% from the end of November. The domestic weekly production of isooctanol is 60000 tons, a decrease of 4000 tons from last week. The production of isooctanol has decreased, the supply of isooctanol has decreased, and the upward momentum of isooctanol has increased.
The cost of raw material propylene has risen
According to the Commodity Market Analysis System of Shengyi Society, as of December 5th, the price of propylene was 6188.25 yuan/ton, a fluctuating increase of 0.53% compared to the price of 6155.75 yuan/ton on December 1st. This week, the price of propylene has been consolidating strongly, and the support for raw material prices still exists. The cost of isooctanol has risen, and the support for the price increase of isooctanol has increased.
Downstream plasticizer DOP prices fluctuate and rise
According to the Commodity Market Analysis System of Shengyi Society, as of December 5th, the DOP price was 7209.16 yuan/ton, a fluctuating increase of 2.12% compared to the DOP price of 7059.16 yuan/ton on December 1st. The cost of DOP has increased, the operating load of plasticizer DOP enterprises has decreased, the operating rate has dropped to 64%, DOP production has decreased, the demand for isooctanol has weakened, and the support for the price increase of isooctanol has weakened.
Future expectations
Analysts believe that in terms of cost, the price of raw material propylene is strongly consolidating, and the upward momentum of isooctanol still exists. In terms of supply, the operating rate of isooctanol enterprises has decreased, and the supply of isooctanol has decreased; In terms of demand, DOP enterprises have experienced a slight decrease in production, resulting in a decrease in DOP output and weakened support for isooctanol demand. In the future, the cost support of isooctanol still exists, coupled with reduced supply and limited demand support, the downward pressure on isooctanol has weakened, and the upward support still exists. It is expected that the price of isooctanol will stabilize strongly in the future.

According to the Commodity Market Analysis System of Shengyi Society, as of December 2, 2025, the reference price of n-butanol in Shandong Province, China is 5200 yuan/ton. Compared with November 28 (reference price of n-butanol is 5150 yuan/ton), the price has increased by 50 yuan/ton, an increase of 0.97%.

At the beginning of December, the n-butanol market in Shandong experienced a narrow upward trend
From the commodity market analysis system of Shengyi Society, it can be seen that in early December, the overall n-butanol market in Shandong, China showed an upward trend. Some n-butanol factories and suppliers in Shandong increased their n-butanol shipment prices by about 50 yuan/ton. The overall focus of market negotiations has slightly shifted upwards. As of December 2nd, the reference price for n-butanol in the domestic Shandong region is around 5200-5250 yuan/ton.
Analysis of Market Factors
On the supply side: As we enter December, the overall supply pressure of n-butanol in Shandong has eased, the overall operating load of n-butanol has decreased, factory inventory has decreased, and the supply side has provided stronger support for the n-butanol market.
On the demand side: Downstream purchases of n-butanol at low prices have increased overall inquiry enthusiasm, improved trading atmosphere, and boosted demand transmission to some extent.
Future forecast
At present, the overall n-butanol market in Shandong is operating strongly, with a good trading atmosphere and a positive attitude among industry players. The n-butanol data analyst from Shengyi Society predicts that in the short term, the n-butanol market in Shandong will continue to operate steadily with a moderate to strong trend. Specific changes in supply and demand news need to be closely monitored.

In November, domestic liquid ammonia prices rose significantly. According to the Commodity Market Analysis System of Shengyi Society, the monthly increase in liquid ammonia prices in Shandong region was 12.93%. The main reason is that, against the backdrop of stable downstream demand, many facilities have undergone maintenance, resulting in a decrease in operating rates and tight supply performance. As of the end of the month, the mainstream price of liquid ammonia in Shandong region is between 2450-2650 yuan/ton.

In terms of supply, in the first half of the year, due to the impact of environmental inspections on some products in the north, the production output of manufacturers decreased, and combined with temporary troubleshooting of some devices, the supply of ammonia in the north decreased. The supply pressure in Shandong, Hebei, Anhui, and the two lakes regions is not high, and the price increase is significant. The main reason for the repeated increase in enterprise quotations. In the middle of the month, the market entered a period of volatile adjustment, and with the end of environmental inspections, prices slightly fell back. In the latter half of the year, the market returned to the fundamental supply-demand balance, and the market partially stabilized. Prices in Shandong region slightly rebounded, but the increase was not significant.
From the demand side, downstream demand has significantly improved, agricultural demand has improved, and export volume has increased. Among them, the operating rate of compound fertilizers has increased, and the demand for urea has increased significantly. Urea has fluctuated and risen throughout November, with a growth rate of 3.5%; In addition, the domestic industry urgently needs to follow up, and coupled with the decrease in inventory caused by the early consumption of ammonia plants, manufacturers have shown a clear willingness to raise prices, which has supported ammonia prices.
Market forecast:
Business analysts believe that the rise of liquid ammonia this month is mainly driven by favorable conditions on the supply side. Although there has been improvement on the demand side, the increase is not significant. It is expected to enter December, and the resumption of maintenance equipment in the north is expected. Supply may be tight or improve, which will to some extent dilute the positive news of the increase in compound fertilizer production. Overall, it is expected that the high price of liquid ammonia will cool down and the price will return to the range of fluctuations.

price trend

According to the bulk ranking data from Shengyi Society, the domestic PC market was mainly in a state of consolidation and operation at the end of November. The spot prices of most brands are fluctuating. As of November 25th, the mixed benchmark price of Business Society PC is around 13766.67 yuan/ton, with a price increase or decrease of -2.82% compared to early November.
Root cause analysis
On the supply side, the load of domestic PC aggregation enterprises rebounded after being reduced in November. The industry’s operating rate has increased, with an average weekly output of nearly 65000 tons. Next week, the supply of genuine materials is expected to recover, and there is a relaxation of supply expectations. However, after preliminary digestion, the inventory is relatively controllable in terms of position, and the pressure of on-site production and sales is still acceptable. Overall, the change rate of PC support from the PC supply side has basically remained flat.
In terms of raw materials, the bisphenol A market fell in the first half of November and recovered in the second half. The price range of upstream phenol and acetone is weakly fluctuating, which is difficult to say for the bisphenol A market. However, after digestion in the first half of the month, the inventory pressure of bisphenol A factories eased, and spot prices fell to a low level. Enterprises and businesses increased their price raising operations, and the market rebounded in the latter half of the year after gaining bottoming power. On the other hand, there has been no improvement in the consumer side of bisphenol A, and the recent changes in the focus of actual orders are limited. It is expected that the price of bisphenol A in the future may remain stable, and the support for PC costs is average.
On the demand side: The load position of downstream factories is still not ideal, and inventory is kept buying at low prices, with weak demand levels. Customs data shows that the export market has slightly decreased at a low level, and PC terminal enterprises have conservative production schedules. Merchants within the range tend to follow the market trend and adopt a cautious and wait-and-see attitude. After meeting the demand for filling vacancies in the early stage, the market trading atmosphere returned to calm, and the speed of goods circulation slowed down again. Overall, the demand side provides moderate support for PC spot prices.
Future forecast
Domestic PC market price consolidation in November. The upstream bisphenol A market recovered after a decline, and the cost value eased the drag on PC. The load of domestic PC aggregation plants is stable with small fluctuations, and there are loose expectations for the future market. The market trading situation remains weak, with long and short positions in the market. It is expected that the PC market will remain stagnant and consolidate in the short term.