In May, the focus of the domestic acetone market mainly fell. The acetone market in East China has been trading at an average price of 5750 yuan/ton since May 1st, but has dropped to 5450 yuan/ton on May 30th, a decrease of 5.22%. From the perspective of the national acetone market, there is an equally significant downward space.

Crude oil fell sharply in the first half of the year, causing the market to bottom out and rebound. The acetone market quickly rebounded after falling. After the May Day holiday, crude oil fell below the 60 mark during the holiday season, and pure benzene fell sharply. Affected by the negative impact of raw material costs, acetone traders were under pressure and reported a downward trend. The entire petrochemical industry chain products showed varying degrees of decline. After approaching 5500 yuan/ton, downstream terminal factories digested their inventory during the holiday and accelerated their procurement pace, causing acetone to hit the bottom and rebound, which further boosted the rapid increase of acetone. During this period, petrochemical companies concentrated on raising their listing prices, and the market had limited low-level supply. Acetone rose to a high of 5850 yuan/ton in mid month.
Demand is difficult to sustain, and the market continues to bottom out in the latter half of the year. In the latter half of the year, terminal factories continued to replenish goods on demand, with little upstream fluctuations and a lukewarm market atmosphere. Actual orders were mostly small, and traders had little intention of lowering their prices. The overall market activity was low, and negotiations were deadlocked.
As the end of the month approaches, there will be little positive news in the later stage, and the overall market is in a downward trend. At the end of the month, the market fell to the lowest point of the month, and negotiations in the East China region are at 5450 yuan/ton.
The acetone offers in major mainstream markets across the country on May 30th are as follows:
Region. May 30th quotation /May’s ups and downs
East China region / 5450./ -150
Shandong region / 5600./ -150
Yanshan region / 5600./ -200
South China region / 5550./ -200

In terms of equipment in May, the first and second phase phenol ketone units of Huizhou Zhongxin were shut down and switched on May 6th, and the 350000 tons/year phenol ketone unit of Zhongsha Tianjin Petrochemical was shut down on April 21st, with an expected maintenance period of 45 days; Shandong Fuyu 250000 tons/year phenol ketone plant will shut down from May 18th to 27th; The 150000 tons/year phenol ketone plant of Blue Star Harbin will shut down for one week at the end of the month.
It is expected to continue to operate weakly in June. From the supply side, the Zhenhai Refining and Chemical Phenol Ketone Plant plans to produce products in late June, resulting in an increase in domestic acetone supply. From the perspective of imports, Saudi Arabia’s facilities have been shut down for maintenance, Middle Eastern sources are limited, and Thailand’s import resources are normal. Currently, it appears that the import volume has slightly decreased. From the perspective of demand, downstream bisphenol A and isopropanol units have been improved, but overall procurement is still mainly based on demand. From a cost perspective, the external environment remains weak, and pure benzene is expected to continue to decline, making it difficult to support acetone. It is expected that the acetone market will continue to operate weakly in June.

In May, the domestic ABS market first fell and then rose, with most spot prices of various grades fluctuating. According to the Commodity Market Analysis System of Shengyi Society, as of May 31st, the average price of ABS sample products was 10625 yuan/ton, with a price level increase or decrease of -0.93% compared to early May.
Fundamental analysis

Supply level: In May, the load of the domestic ABS industry first increased and then decreased, with the overall load level rising from 65% at the beginning of the month to 70% in the middle of the month, and then falling back to 61% by the end of the month. The weekly average production has synchronously fallen back to 110000 tons. Although the inventory level of aggregation enterprises is still at a high level, it has been reduced to a certain extent, and the on-site supply is still at a relatively sufficient level. At the same time, the recent release of new equipment capacity by two companies still has a certain suppressive impact on the industry’s supply support, and there is still some supply pressure in the market. Overall, the supply side has shown some improvement in support for ABS spot prices.
Cost factor: In May, the upstream three materials of ABS rose and then rebounded, which improved the cost support for ABS. In terms of acrylonitrile, domestic supply gradually contracted in the first half of the month, and spot resources were limited. Coupled with the rapid rebound of export orders for multiple terminal products, enterprises locked in profits by stocking up, and factories quickly responded by raising spot prices. As downstream substantive demand is met, the upward trend is hindered. In the long run, there will still be new production capacity being gradually put into operation, so the market will fluctuate and fall at the end of the month.
The domestic butadiene market price rose in May and then fell back. Boosted by macroeconomic factors such as mid month tariffs, the atmosphere in the spot market has strengthened. Some units are undergoing unplanned maintenance, coupled with tight port supply, resulting in a tight supply of butadiene in the market. The butadiene market is heating up, and after the price rises to a high level, the trading atmosphere in the market begins to fade. The downstream synthetic rubber futures market weakened in the latter half of the year, with weak market demand. The concentrated arrival of goods at ports in East China has led to a return to loose supply, resulting in a significant drop in butadiene prices.
At the end of May, the domestic styrene market rose and then consolidated. Affected by the consensus reached in the high-level economic and trade talks between China and the United States within the month, foreign pure benzene followed the rise in international oil prices, coupled with accelerated destocking of styrene ports, and market sentiment quickly improved. In the future, there will be an increase in arrivals from the main ports in East China, coupled with sustained high supply from South Korea leading to significant pressure to reduce inventory, resulting in a downward shift in price focus. Secondly, the high inventory of styrene downstream and weak demand, coupled with the early completion of maintenance for some facilities, have further suppressed the rise in styrene prices due to increased supply. It is expected that the styrene market will operate weakly in the short term.
On the demand side: As we enter May, the load of downstream ABS factories in the ABS terminal has generally flattened, and the purchasing logic tends to focus on buying at the bottom and supplementing orders for urgent needs, resulting in a lack of new orders and slow flow of goods. In mid month talks between China and the United States, both sides reached an agreement to reduce tariffs, which is beneficial for the commodity market and significantly boosts the export market in areas such as small household appliances and consumer electronics at the macro level. The export orders of ABS terminal factories rebounded rapidly, and the load also increased accordingly, leading to a surge in on-site trading volume. At the end of the month, the macro positive factors gradually dissipated, and the liquidity of the supply source cooled down. In addition, the inventory position was high, and there was a large space for on-site turnover, so there was no tight situation on the supply side. Overall, there was a slight rebound in demand support for the ABS market in May.

Future forecast
The domestic ABS market fluctuated in May. The prices of the upstream three materials first rose and then fell, and the production load of the ABS polymerization plant decreased. The comprehensive support of the cost and demand sides is still acceptable. Business analysts believe that the suspension of tariffs between China and the United States in the middle of the month and the resumption of export windows have led to a surge in spot prices in the middle of the month. However, as the market continues to heat up, businesses are returning to a cautious attitude. At the end of the month, under the dual pressure of cost and demand, ABS market is expected to continue to consolidate in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the xylene market will first rise and then fall in May 2025, with an overall upward trend. From May 1st to 28th, the domestic xylene market price fell from 5610 yuan/ton to 5750 yuan/ton, with a cumulative price increase of 2.5% during the period.

In the first half of the month, the mixed xylene market in Shandong region mainly declined, and the market shipment situation during the May Day holiday did not meet market expectations. Refineries voluntarily lowered prices and shipped, driving some downstream purchases into the market. In the later part of the week, market transactions began to improve, and overall market prices declined. The East and South China regions have been fluctuating and weakening, with port inventories rising during holidays and market demand being more rigid. Overall trading is average, and the market is running weakly. In the later stage, driven by the demand of downstream chemical industry, especially the positive impact of chemical industry procurement in Shandong region, refineries generally operate with low inventory levels, factory prices rise, and holders of goods have a strong mentality of supporting prices, resulting in continuous market price increases.
In the second half of the month, the mixed xylene market experienced overall volatility and decline, with downstream demand performing poorly, dragging down market sentiment. The downstream chemical industry in Shandong market has released demand for replenishment, actively entering the market for procurement, driving the spot market to slightly improve over the weekend. The overall trend in East and South China this week is weak, with high port inventories and a general decrease in main refineries. Spot market prices have also fallen.
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:
Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of May 28th, East China Company quoted 5800 yuan/ton, North China Company quoted 5600-5750 yuan/ton, South China Company quoted 5750-5800 yuan/ton, and Central China Company quoted 5650-5800 yuan/ton.
Demand side:
According to the Commodity Market Analysis System of Shengyi Society, as of May 29, 2025, the price of xylene sold by Sinopec Sales Company has temporarily stabilized, with a current price of 6850 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical, and other facilities are operating stably with normal sales, with a price reduction of 50 yuan/ton compared to April 27. As of May 28th, the closing prices of the xylene market in Asia were $811-813/ton FOB Korea and $836-838/ton CFR China, an increase of $92/ton from April 24th.
Market forecast: The recent trend of crude oil is weak, and the cost support of xylene is limited. From the perspective of demand, the overall downstream demand has recently shifted towards rigid procurement, and related futures commodities have weakened, driving a low mentality in the spot market. As the holiday approaches, there is still some demand for pre holiday stocking in the downstream. Overall, the mixed xylene market is mixed with negative and positive factors, and it is expected to have a strong and volatile trend in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market fluctuated and fell this week. From May 16 to May 23, 2025, the price of mixed xylene decreased from 5860 yuan/ton to 5740 yuan/ton, a decrease of 2.05%. The mixed xylene market has fluctuated downward in this cycle, and downstream demand has performed poorly, dragging down market sentiment. The Shandong market fell first and then rose this week, as downstream chemical industries released demand for replenishment and actively entered the market for procurement, driving the spot market to slightly improve over the weekend. The overall trend in East and South China this week is weak, with high port inventories and a general decrease in main refineries. Spot market prices have also fallen.
Cost aspect: The crude oil market rose first and then fell during this cycle, with an overall upward trend. As of May 22, the settlement price of the main contract for WTI crude oil futures in the United States was $61.20 per barrel. The settlement price of the main Brent crude oil futures contract is $64.44 per barrel.

Supply side:
Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of May 23rd, East China Company quoted 5800 yuan/ton, North China Company quoted 5600-5750 yuan/ton, South China Company quoted 5750-5800 yuan/ton, and Central China Company quoted 5650-5800 yuan/ton.
Demand side:
On May 26th, the price of xylene at Sinopec Sales Company was temporarily stable, with a current execution price of 6850 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Units such as Yangzi Petrochemical and Zhenhai Petrochemical are operating stably and sales are normal. An increase of 150 yuan/ton compared to May 16th. As of May 23rd, the closing prices of the xylene market in Asia were $800-802/ton FOB Korea and $825-827/ton CFR China, a decrease of $28/ton from May 15th.
Market forecast: The recent trend of crude oil is weak, and the cost support of xylene is limited. From the perspective of demand, the overall downstream demand has recently shifted towards rigid procurement, and related futures commodities have weakened, driving a low mentality in the spot market. As the holiday approaches, there is still some demand for pre holiday stocking in the downstream. Overall, the mixed xylene market is mixed with negative and positive factors, and it is expected to have a strong and volatile trend in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of bromine has been running steadily this week. The average market price at the beginning of the week was 23100 yuan/ton, and the average market price over the weekend was 24000 yuan/ton, with a price increase of 3.9% and a year-on-year increase of 12.68%. On May 22, the Business Society Bromine Index was 84.21, unchanged from yesterday, a decrease of 65.65% from the highest point of 245.18 points (2021-10-27) during the cycle, and an increase of 42.92% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to the period from September 1, 2011 to present)
2、 Market analysis
This week, the price of bromine has remained stable, with a reference price of 24000 to 26000 yuan/ton for spot bromine production in Shandong region. The temperature has risen this week, and domestic bromine enterprises have started working steadily. Most manufacturers focus on stabilizing prices, while downstream enterprises prioritize urgent needs. In terms of raw materials, domestic sulfur prices have been running weakly, with an average market price of 2501 yuan/ton at the beginning of the week and 2474.33 yuan/ton over the weekend. The price has decreased by 1.07% and increased by 129.81% compared to the same period last year. Downstream demand is generally average.
Prediction: Bromine prices are expected to remain strong in the near future, while upstream sulfur prices are expected to remain stable. Bromine prices are expected to remain strong this week, while downstream purchases will be made as needed. Bromine enterprises focus on stabilizing prices. It is expected that bromine will continue to consolidate and operate in the later period, depending on downstream market demand.

This week, the domestic fluorite price trend has slightly declined. As of the weekend, the average domestic fluorite price was 3606.25 yuan/ton, a decrease of 1.37% from the early week price of 3656.25 yuan/ton and a year-on-year decrease of 4.63%.

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.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the market price of isopropanol increased in early May. On May 1st, the average price of isopropanol in China was 6563.33 yuan/ton, and on May 9th, the average price was 6775 yuan/ton, with a price increase of 3.23%.
The market price of isopropanol increased in early May. The main factories have low operating loads, and the spot market is tight. Holding traders have pushed up their prices, but downstream replenishment enthusiasm is average, with limited new order transactions. In addition, the acetone market price has fallen this week, and the increase in negotiation focus is limited, resulting in insufficient confidence in the future market. As of now, most of the isopropanol market prices in Shandong are around 6800 yuan/ton; The majority of prices in the isopropanol market in Jiangsu region are around 6700-7000 yuan/ton.
In terms of raw material acetone, the domestic acetone market price has fallen this week. On May 1st, the average price of acetone in China was 5830 yuan/ton, and on May 9th, the average price was 5685 yuan/ton, with a price reduction of 2.49%. At present, acetone holders’ intention to ship at low prices has weakened, and their offers are moving towards high-end.
In terms of propylene, the domestic propylene market is on the rise. On May 1st, the market was average at 6570.75 yuan/ton, and on May 9th, the average price was 6630.75 yuan/ton, with a price increase of 0.91%. At present, manufacturers’ shipments are average, and downstream procurement enthusiasm is not good. They are observing and waiting, and it is expected that the market will be weak in the short term.
3、 Future forecast
The isopropanol analyst from the Chemical Branch of Shengyi Society believes that the acetone market price has fallen, the propylene price has slightly increased, the cost support is weak, and the downstream market procurement enthusiasm is not good, so the market is more cautious. It is expected that the isopropanol market will operate weakly and steadily in the short term, and more attention will be paid to changes in the raw material market.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of soda ash first fell and then rose in April. At the beginning of the month, the average market price of light soda ash was 1434 yuan/ton, and at the end of the month, the average market price was around 1408 yuan/ton. The price decreased by 26 yuan/ton during the month, with an overall decline of 1.81%.
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the market for soda ash this month first fell and then rose. The price of soda ash continued to decline in the first half of the month, mainly due to the high utilization rate of soda ash production capacity and weak downstream demand. Under the game of supply and demand, soda ash prices continued to decline; At the end of the month, with the release of some equipment maintenance news in the soda ash market in May, the mentality of enterprises is optimistic. In addition, with the follow-up of downstream replenishment before the holiday, the price of soda ash has risen.
As of April 30, 2025, the mainstream market price of light soda ash in East China is around 1300-1500 yuan/ton, with a decrease of 30 yuan/ton within the month; The mainstream market price of light soda ash in Central China is around 1240-1400 yuan/ton, which will be lowered by 60-100 yuan/ton within the month; The mainstream market price of light soda ash in North China is around 1350-1500 yuan/ton, which will be lowered by 70-100 yuan/ton within the month.
On the demand side: According to the commodity analysis system of Business Society, the glass price trend has been strong this month, with an average market price of 15.25 yuan/square meter at the beginning of the month and 15.58 yuan/square meter at the end of the month, an increase of 2.16%. The production capacity of the glass market has not changed much within the month, with stable spot supply and increased downstream demand. The market trading is good, and there is a significant destocking of glass, resulting in a strong upward trend in prices.
On April 30th, the Business Society’s soda ash to glass commodity price index was 76.94, unchanged from yesterday, a decrease of 31.53% from the highest point of 112.37 points during the cycle (October 6, 2023), and an increase of 4.40% from the lowest point of 73.70 points on February 16, 2025. (Note: Cycle refers to January 1, 2012 to present)
Market forecast: According to the commodity analysis system of Shengyi Society, the current trend of soda ash prices is rising. The maintenance of some soda ash plants in May will have a positive impact on the market. At the same time, the downstream market is strong and the atmosphere for soda ash transactions is good. It is expected that soda ash prices will be strong and upward in the later stage. In the long run, downstream demand support is limited, and soda ash prices will first rise and then stabilize, depending on downstream market demand.

According to the Commodity Market Analysis System of Shengyi Society, after a wide decline in the TDI market in East China in April, it rebounded slightly and the overall trend declined. At the beginning of the month, the average TDI market price was 12066 yuan/ton. On April 29th, the TDI price was 10700 yuan/ton, a decrease of 11.33% during the month and a year-on-year decrease of 30.97%.

In April, the TDI market in East China was negatively affected by both supply and demand as well as news, causing prices to fall to a low level before rebounding slightly. In early April, the supply of goods was filled quickly and the supply was loose. Affected by the news of tariff policies, the export market is hindered, and downstream market entry is cautious. Domestic demand is relatively flat, with limited demand pull. The market lacks favorable support, and the mainstream price of TDI has fallen to 10000-10500 yuan/ton. In late April, suppliers gathered strength and increased prices, with low-end quotations probing the rise. At the same time, major manufacturers had frequent maintenance plans, but due to demand constraints, the increase was limited.
Supply side: Fujian Wanhua, Xinjiang Juli, Gansu Yinguang operate at medium to high loads. BASF’s 160000 tons/year TDI plant in Shanghai has a maintenance plan in May, while Japan’s Tosa has a maintenance plan from May to July. Other devices maintain stable operation.
In April, the upstream toluene market experienced a wide downward trend. From April 1st to 27th, the domestic toluene market price fell from 6120 yuan/ton to 5490 yuan/ton, with a price drop of 10.29% during the period. Crude oil prices fell sharply this month, and the market sentiment was weak. Downstream purchases were made on dips. The overall performance of the aromatic hydrocarbon market is weak, and the toluene market is dragged down by weak prices.
In the future analysis, TDI data analysts from Shengyi Society believe that the current TDI market demand is average, and although suppliers are actively promoting it, the upward trend is weak. Pay close attention to the changes in market supply and demand in May, and expect the TDI market to consolidate and operate within a certain range in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market was 1073 yuan/ton on April 28th, and 926 yuan/ton on April 1st. The market price of ammonium sulfate has increased by 15.83% this month.
2、 Market analysis
The market price of ammonium sulfate has continued to rise this month, with an increase of over 15%. In the first half of this month, the price of ammonium sulfate in the domestic market increased significantly. Part of the caprolactam enterprises have undergone equipment maintenance, resulting in a decrease in market supply. The purchasing enthusiasm of downstream particle factories has increased, leading to an increase in market demand. In the second half of this month, the upward trend of the domestic ammonium sulfate market has been temporarily suspended. The operating rate of coking enterprises remains stable, and the operating rate of their internal equipment is at a low level. After the continuous rise in ammonium sulfate prices, downstream restocking enthusiasm weakened, and there was resistance to high prices. The ammonium sulfate market began to consolidate and operate. As of April 28th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 1010 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1060-1090 yuan/ton.
According to the weekly K-bar chart from February 3, 2025 to April 21, 2025, it can be seen that the domestic ammonium sulfate cycle is fluctuating. The domestic price of ammonium sulfate increased significantly in April, with the largest increase being 4.45% in the week of April 7th.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the domestic price of ammonium sulfate has been steadily consolidating and operating in recent days. The caprolactam plant is expected to reduce production, and market supply may decrease. Downstream essential procurement is the main focus, with limited market transactions at present. It is expected that the domestic ammonium sulfate market will experience a narrow consolidation and operation in the short term.