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.

The price of boric acid has been weakly stable recently. According to the Commodity Market Analysis System of Shengyi Society, as of November 27th, the average price of boric acid in the domestic market was 8300 yuan/ton. At present, the quotation range of domestic boric acid traders is between 7700-8500 yuan/ton (the actual transaction price of different brands, specifications, and products is mainly negotiated), and the mainstream price is between 8000-8100 yuan/ton according to the shipment volume.

In terms of overseas import sources, the current external quotation for import sources is concentrated at 8400-9700 yuan/ton (the actual transaction price of different brands, specifications, and products is mainly negotiated). According to the Commodity Market Analysis System of Shengyi Society, the average market price of imported boric acid is 9066.67 yuan/ton, an increase of 1.4% compared to the market average price of 8941.67 yuan/ton in early November
The price of boric acid has rebounded from a low level in April 2025 and is currently operating in a high volatility range. If there is no special news, it is expected to mainly fluctuate sideways in the short term.

This week, the phthalic anhydride market fluctuated and fell

According to the Commodity Market Analysis System of Shengyi Society, as of November 24th, the price of phthalic anhydride in neighboring countries was 5800 yuan/ton, a fluctuation of 1.58% compared to the price of 5893.33 yuan/ton on November 14th. Phthalic anhydride continues to decline, with prices fluctuating and falling. Phthalic anhydride prices are temporarily stable, costs are stabilizing, and the operating rate of phthalic anhydride enterprises has slightly increased. Phthalic anhydride supply is sufficient; The operating load of downstream DOP enterprises has slightly increased, and the demand for phthalic anhydride still remains supported. Supported by the demand for cost reduction, the price of phthalic anhydride fluctuated and fell this week.
The cost of phthalic anhydride is stabilizing
On November 24th, Sinopec quoted a price of 5800 yuan/ton for ortho benzene, which stabilized from the price of 5800 yuan/ton on November 14th. The price of ortho benzene is temporarily stable, while the cost of phthalic anhydride is stabilizing. The operating load of phthalic anhydride equipment has slightly increased, and the supply of phthalic anhydride is sufficient. The supply cost is stabilizing, but there is still downward pressure on phthalic anhydride.
Demand side: DOP prices rebound and rise
According to the Commodity Market Analysis System of Shengyi Society, as of November 24th, the DOP price was 6967.50 yuan/ton, which rebounded and increased by 1.22% compared to the DOP price of 6883.34 yuan/ton on November 14th. The cost of DOP has increased, DOP prices have risen, and the operating load of plasticizer DOP enterprises has slightly increased this week. DOP production has increased, and the demand for phthalic anhydride still supports it. The downward pressure on phthalic anhydride has weakened.
Market outlook
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, the DOP equipment load of plasticizer enterprises has slightly increased, the production of plasticizers has increased, and the demand support for phthalic anhydride still exists; In terms of cost, the price of ortho xylene is temporarily stable, the price of raw materials is stabilizing, and the cost of phthalic anhydride is temporarily stable. In the future, the cost of phthalic anhydride is temporarily stable, and the demand for phthalic anhydride is weak due to the increase in production. It is expected that the price of phthalic anhydride will remain weak and stabilize in the future.

According to the Commodity Market Analysis System of Shengyi Society, from November 17th to 21st, the domestic ethanol price was adjusted to 5289 yuan/ton, a month on month decrease of 3.74% and a year-on-year decrease of 4.18%. The domestic ethanol market has rebounded, with slight regional differences. The raw material corn market is rising, cost support is increasing, supply in some areas is decreasing, there are not many spot goods, and factory quotations are rising. The increase in downstream production of ethyl acetate in some regions has led to an increase in demand for ethanol, which is favorable for the ethanol market.

On the cost side, corn prices have slightly increased, and ethanol factories urgently need to purchase. The favorable factors for ethanol cost have weakened.
On the supply side, the Northeast region has shown outstanding performance, with an overall operating rate of 92.43%, significantly higher than the national level. Specifically, major large enterprises in Heilongjiang continue to operate at overload, while other factories in the region have also maintained full production capacity, jointly driving up the overall operating load in Northeast China. Several previously suspended enterprises have recently resumed production, and the supply of ethanol is affected by unfavorable factors.
On the demand side, the loss of equipment is greater than the recovery, and the utilization rate of ethyl acetate production capacity has slightly decreased. Negative factors affecting ethanol demand.
Market forecast, overall. The ethanol analyst from Shengyi Society predicts that the short-term ethanol market trend will mainly focus on consolidation.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene in Shandong Province has slightly increased this week. On Monday, the price of pure benzene was 5205.33 yuan/ton, and on Friday it was 5215.33 yuan/ton, with a price increase of 0.19% during the week.
2、 Market analysis
Pure benzene: The market price of pure benzene has slightly increased. Yesterday, crude oil prices actively rose, and the external price of pure benzene increased, driving confidence in the pure benzene market and benefiting domestic pure benzene. Downstream market buying improved. Shandong’s local refining enterprises have slightly increased their quotations, indicating a strong overall market operation.
Downstream aspects
3、 Future forecast
Crude oil futures: On November 13th, international crude oil futures rebounded after falling. The settlement price of the December WTI crude oil futures contract in the United States was $58.69 per barrel, an increase of $0.20 or 0.3%. The settlement price of Brent crude oil futures for January was $63.01 per barrel, an increase of $0.30 or 0.5%.
Foreign pure benzene: On November 13th, FOB Korea rose by 3 to $662/ton, and CFR China rose by 5 to $676/ton. FOB Rotterdam increases by $4 to $696 per ton, FOB US Gulf increases by $2 to $261 per gallon
Overall expectation: The short-term pure benzene market is expected to operate strongly, with cautious trading. 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.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market stopped falling and rose this week. On November 3rd, the market price of aniline was 7675 yuan/ton, and on November 7th it was 7737 yuan/ton, with a weekly increase of 0.81% and a decrease of 16.8% compared to the same period last year.
2、 Analysis and Review
This week, the aniline market stopped falling and rebounded. During the week, the price of raw material pure benzene slightly increased, and the production of raw material nitric acid in the main production areas was low. The price of nitric acid was tight and the price increased. The production of aniline enterprises for nitric acid extraction was restricted, and there is a possibility of negative pressure in the later stage. Under the boost from the raw material side, aniline factories collectively raised prices, resulting in active transactions and continuous price increases for aniline.
On the cost side: The pure benzene market has slightly improved this week, with insufficient downstream orders and continued losses. The enthusiasm for raw material procurement is still not high, but with the price of pure benzene reaching a new low, downstream companies have entered the market on dips, and the market has rebounded slightly. The market has risen slightly this week.
3、 Future expectations
The current aniline market is active in trading, with reduced inventory pressure. It is expected that the aniline market will consolidate and operate after a short-term rise, and close attention will be paid to changes in supply and demand in the future.

According to the Commodity Market Analysis System of Shengyi Society, as of November 3, 2025, the reference price of n-butanol in Shandong Province, China is 5216 yuan/ton. Compared with October 31 (reference price of n-butanol is 5233 yuan/ton), the price has decreased by 17 yuan/ton. Compared with October 1 (reference price of n-butanol is 5850 yuan/ton), the price has decreased by 634 yuan/ton, a decrease of 10.583%.

Poor market performance, Shandong n-butanol’s decline enters November
From the commodity market analysis system of Shengyi Society, it can be seen that in early November, the domestic n-butanol market in Shandong region still showed a downward trend. At the beginning of the month, major factories in Shandong continued to narrow down the ex factory price of n-butanol by 50 yuan/ton, with a low-end reference price of around 5150 yuan/ton for n-butanol. The fundamental performance in the market is weak. As of the 3rd, the reference price for n-butanol market in Shandong region is around 5150-5200 yuan/ton.
Analysis of Market Factors
On the demand side: cautious demand and insufficient support on the demand side
Currently, there is a strong bullish sentiment in the n-butanol market, and downstream stocking and procurement are cautious. The overall market inquiries are limited, and the trading atmosphere is relatively weak. The focus of market negotiations is around the low-end market.
Supply side: Abundant supply, market shipment as the main focus
At present, the overall supply performance of n-butanol market in Shandong region is relatively sufficient, and the supply side actively ships, mainly to maintain low inventory levels.
Cost wise: Low cost supports loose support
The low market price of propylene on the raw material cost side has loosened the cost support for n-butanol. According to data from Shengyi Society, on November 3rd, the reference price of propylene was 6058.25 yuan/ton, a decrease of 7.41% compared to October 1st (6543.25 yuan/ton).
Future forecast
At present, the inquiry atmosphere in the n-butanol market is average, and downstream demand is maintained to stock up on dips. The n-butanol data analyst from Shengyi Society predicts that in the short term, the domestic n-butanol market in Shandong will mainly adjust and operate in a narrow range, and specific changes in supply and demand news need to be closely monitored.

1、 Price trend

According to monitoring data from Shengyi Society, the price of baking soda has been weak this month, with an average market price of 1245 yuan/ton at the beginning of the month and around 1220 yuan/ton at the end of the month, a decrease of 2.01% and a year-on-year decrease of 22.88%. On October 30th, the Business Society Baking Soda Index was 80.97, unchanged from yesterday and hitting a historic low for the cycle, a decrease of 65.67% from the highest point of 235.84 on November 10, 2021. (Note: Cycle refers to September 1, 2020 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of baking soda is running weakly, and the company’s shipments are still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1080-1200 yuan/ton in Henan region and 1200-1300 yuan/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage. Raw materials: According to monitoring data from Business Society, the price of soda ash remained weak in October. At the beginning of the month, the average market price of light soda ash was 1182 yuan/ton, and at the end of the month, the average market price was around 1186 yuan/ton, an increase of 0.34% compared to the same period last year, which was 25.13%.
Business analysts believe that the price of baking soda has been weak in recent times, with the upstream raw material soda ash showing overall strong performance in July. However, downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that baking soda prices will mainly fluctuate in the later period, depending on downstream market demand.