According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7088 yuan/ton on November 1st and 6980 yuan/ton on November 25th, a decrease of 1.53%. LDPE (2426H) had an average price of 9316 yuan/ton on November 1st and 9016 yuan/ton on November 25th, a decrease of 3.22%. HDPE (2426H) had an average price of 7650 yuan/ton on November 1st and 7437 yuan/ton on November 25th, a decrease of 2.78%.
The supply and demand fundamentals of polyethylene remained unchanged in November, and the weakness continued, with a relatively large decline in high-pressure products. In terms of supply, there has been an increase in the restart of maintenance equipment in the early stage, and the release of new production capacity has not reduced the pressure on supply. On the demand side: The e-commerce festival has boosted the packaging film industry, but after the pre holiday stocking ends, the operating rate has fallen slightly; The peak season for the agricultural film industry has ended, and downstream customers are cautious in receiving goods, with a strong wait-and-see attitude. The main focus is on essential purchases, but the support is insufficient. The market lacks favorable conditions and has a bearish mentality. Petrochemical companies and traders continue to lower prices for shipments. In the short term, weak fluctuations in international oil prices have limited impact on the polyethylene market.
Supply pressure still exists, market transactions are cautious, downstream factories are replenishing inventory at low prices, and demand has entered the off-season. It is expected that polyethylene will mainly operate weakly.

According to the commodity analysis system of Shengyi Society, the hydrogen peroxide market has continued to decline since November, with prices remaining weak and consolidating. On November 1st, the average market price of hydrogen peroxide was 930 yuan/ton, and on November 25th, the average market price of hydrogen peroxide was 846 yuan/ton, a decrease of 8.96% in price.
Negative led hydrogen peroxide market weakens in November
In the first ten days, hydrogen peroxide supply was loose, terminal demand was sluggish, and negative factors dominated, resulting in a continuous decline in the hydrogen peroxide market. The average price of hydrogen peroxide in the Shandong region is 850-880 yuan/ton, with a price drop of 50 yuan/ton. The average price of hydrogen peroxide in the Anhui region is around 850 yuan/ton, with a price drop of 50 yuan/ton. As of November 15th, the average price of hydrogen peroxide in the domestic market has dropped to around 860 yuan/ton, an overall decrease of 70 yuan/ton from the beginning of the month.
In the middle of the month, due to the shutdown and maintenance of hydrogen peroxide manufacturers, supply became tight, and manufacturers raised prices, resulting in a slight increase in the hydrogen peroxide market. Due to the sustained low demand from end-users, the hydrogen peroxide market experienced a pullback after rising, with prices returning to the 860 yuan/ton line.
At the end of the month, the demand for hydrogen peroxide terminals was poor, the market transactions were average, and the market continued to decline weakly. The average price of hydrogen peroxide in the domestic market has dropped to around 850 yuan/ton, a decrease of 100 yuan/ton from the beginning of the month.
The hydrogen peroxide analyst from Shengyi Society believes that in December, the demand for terminal printing and papermaking industry remains sluggish, and the supply of hydrogen peroxide is loose. The future market trend will continue to decline.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene in Shandong Province first fell and then rose this week, indicating an overall decline in prices. On Monday, the price of pure benzene was 5317.67 yuan/ton, and on Friday, it was 5251 yuan/ton. The price decreased by 1.25% during the week.
2、 Market analysis
Pure benzene: This week, the market price of pure benzene in Shandong region first fell and then rose, and overall the price has fallen. Shandong Refinery saw a wide premium yesterday, and the price of pure benzene rose in foreign markets. This morning, there was good confidence in the pure benzene market in Shandong, and the market continued to shift its focus from yesterday. In the afternoon, the market operated weakly.
Downstream aspects
3、 Future forecast
Crude oil futures: On November 20th, international crude oil futures closed down. The settlement price of the January WTI crude oil futures contract in the United States was $59.00 per barrel, a decrease of $0.25 or 0.4%. The settlement price of Brent crude oil futures for February was $62.80 per barrel, a decrease of $0.20 or 0.3%.
Foreign pure benzene: On November 20th, FOB Korea rose by 9 to 673 US dollars per ton, and CFR China rose by 8 to 685 US dollars per ton. FOB Rotterdam rose 9 to 711 US dollars per ton, while FOB US Gulf remained stable at 278 US cents per gallon.
Overall forecast: The short-term pure benzene market is expected to experience slight fluctuations, 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.

According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China maintained stable operation this week. As of November 21, the average market price in East China was 14233 yuan/ton, and on November 17, the average price was 14233 yuan/ton, with no increase or decrease during the week and a year-on-year increase of 12.52%.
The TDI market has stabilized after rising this week. As of this Friday, the domestic offer price for TDI in East China is between 13500-13900 yuan/ton; The Shanghai cargo offer price is around 14000-14300 yuan/ton. The willingness of suppliers to raise prices during the week has not decreased, and the market transaction speed has slowed down. In order to stimulate sales, traders have seen a narrow decline in the focus of transactions. Downstream demand has entered the market, and there is a strong wait-and-see atmosphere. Under the supply-demand game, the TDI market is in a stalemate to maintain stable operation.
Supply side: Fujian TDI plant operates with reduced load. The 150000 ton/year TDI plant of Hanhua in South Korea was shut down for maintenance on November 3rd and is expected to resume operation around November 25th. Shanghai Covestro has a maintenance plan for November.
Cost wise: The toluene market has seen a slight increase. The crude oil market has slightly rebounded, driving an improvement in the atmosphere of the spot market. The overall market atmosphere is still acceptable, with factories showing a strong willingness to raise prices. Downstream suppliers are replenishing their inventory as needed, and the toluene market is showing a stable but strong trend due to the rise in crude oil prices.
Market analysis shows that TDI data analysts from Shengyi Society believe that on Friday, the fixed price for TDI distribution channels in northern China was raised to 14400 yuan/ton in late November, which will boost market confidence. It is expected that the TDI market will have a strong trend in the short term.

According to the Commodity Market Analysis System of Shengyi Society, on November 20th, the ex factory price of cyclohexanone in Shandong Province, China was reference 6312 yuan/ton. Compared with November 15th (cyclohexanone price reference 6200 yuan/ton), the price increased by 150 yuan/ton, a decrease of 1.81%.
This week, the cyclohexanone market in Shandong experienced an upward trend
From the Commodity Market Analysis System of Shengyi Society, it can be seen that this week (11.15-11.20), the overall cyclohexanone market in Shandong Province, China, showed a steady upward trend. The atmosphere inside the venue is still good, and the focus of market negotiations has shifted upwards. As of November 20th, the ex factory price of cyclohexanone in Shandong region is around 6300-6350 yuan/ton.
Analysis of Market Factors
On the supply side: This week, the supply of cyclohexanone has decreased, and the overall supply pressure of cyclohexanone has eased. Some are not willing to sell lower, and the sentiment of reluctance to sell and explore price increases is gradually rising. The overall market situation has rebounded.
In terms of demand: During the week, the overall demand for downstream cyclohexanone was still acceptable, with a focus on rigid demand.
In terms of cost: The pure benzene market on the cost side is fluctuating and declining, but it still puts some cost pressure on cyclohexanone.
Market analysis in the future
At present, the trading atmosphere in Shandong cyclohexanone market is mild, the mentality of industry players has improved, and the low prices in the market have decreased. The cyclohexanone data analyst from Shengyi Society predicts that in the short term, the cyclohexanone market in Shandong will mainly focus on consolidation and operation, and specific changes in product supply and demand need to be monitored.

According to the Commodity Market Analysis System of Shengyi Society, as of November 16th, the average market price of acetic acid was 2433.33 yuan/ton, an increase of 13.33 yuan/ton or 0.55% compared to the price of 2420.00 yuan/ton on November 10th. This week, the domestic acetic acid market saw a narrow upward adjustment, mainly due to a decrease in the utilization rate of acetic acid production capacity on the supply side, weakened market inventory pressure, and a strong corporate mentality. Acetic acid prices have also increased, and downstream purchases are mainly based on demand. Market transactions are limited, which has weakened the support for acetic acid.
This week, the raw material methanol market fluctuated and consolidated. As of the 16th, the average price in the domestic market was 2070 yuan/ton, an increase of 0.15% compared to the price of 2067 yuan/ton on November 10th. Methanol imports are at a high level, port inventories continue to accumulate, and although downstream demand has rebounded, the market fundamentals are still oversupplied. Methanol companies face significant shipping pressure, and the methanol market is fluctuating.
The downstream acetic anhydride market is operating in a wait-and-see manner, with the average ex factory price of acetic anhydride remaining at 4107.50 yuan/ton from November 10th to 16th. The upstream acetic acid market is relatively strong and rising, supported by favorable costs for acetic anhydride. However, downstream entry enthusiasm is not high, and the market trading atmosphere is weak. The internal state of the market is playing games, and the price of acetic anhydride has stabilized during the cycle.
In terms of future market forecast, the acetic acid analyst from Shengyi Society believes that some manufacturers in the domestic acetic acid market have stopped for maintenance, and the inventory pressure of enterprises is not high. The mentality is mainly on the rise, and downstream demand is following up on demand. The market transaction is weak, which has a certain suppressive effect on the trend of acetic acid. It is expected that the acetic acid market will be observed and operated in the later stage, and the market supply situation will be closely monitored in the future.

According to the Commodity Market Analysis System of Shengyi Society, the domestic butadiene market has fluctuated upward in this cycle. From November 10th to November 17th, 2025, the price of butadiene will increase from 6900 yuan/ton to 6966.67 yuan/ton, a rise of 0.97%. The domestic butadiene market has fluctuated upward in this cycle, with lower prices in the early stage, attracting some downstream buyers to replenish inventory at low prices, driving the trading atmosphere in the spot market to improve. The spot market price has slightly rebounded, and refineries generally have a strong mentality of raising prices. It is difficult to find low-priced sources in the market, and the overall market price is on the rise. However, due to the weak demand from downstream terminals, the increase is limited.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of November 14th, the settlement price of the December WTI crude oil futures contract in the United States was $60.09 per barrel. The settlement price of Brent crude oil futures for January contract is $64.39 per barrel.
Supply side: The listed price of butadiene for various sales companies of Sinopec is 7000 yuan/ton.
Demand side: According to the commodity market analysis system of Shengyi Society, the butadiene rubber market has slightly increased. On the one hand, the price of raw material butadiene has weakened and decreased, causing a significant shift in the cost center of butadiene rubber; Part of the pre maintenance equipment has restarted operation, and the production of butadiene rubber has slightly increased, resulting in a slight increase in supply pressure; On the other hand, downstream tire production has slightly rebounded, providing support for the demand for butadiene rubber, but resisting high priced sources. The basic operation of butadiene rubber is weak. As of November 17th, the market situation of Shunding rubber in the northwest region has slightly increased, and the futures price of Shunding rubber has fluctuated narrowly. Business offers have slightly increased by around 50-100 yuan/ton. At present, the mainstream prices for butadiene rubber in Sichuan, Dushanzi, and Lande are 10600-10800 yuan/ton.
Market forecast: The trading situation in the spot market is still good in the near future, and refineries have a strong mentality of raising prices. However, the supply performance is still relatively loose and the external market is weak, with limited upward momentum in the market. It is expected that the butadiene market will mainly experience strong fluctuations in the short term, with a focus on downstream procurement demand.

According to the Commodity Market Analysis System of Shengyi Society, from November 10th to 14th, the domestic BDO price was adjusted to 7442 yuan/ton, with a month on month decrease of 0.31% and a year-on-year decrease of 15.28%. There are many restarts in terms of equipment, and the support from the supply side has weakened. But the industry has been suffering long-term losses, and the mentality of stabilizing the market still exists among suppliers. Downstream demand has increased, but under cost pressure, contracts are being followed up, and spot purchases are light and negotiated. The intensifying supply-demand game makes it difficult for the market center of gravity to fluctuate.
In terms of supply and equipment, the industry’s capacity utilization rate has increased to around 56%, and the supply of goods has increased, exacerbating the cautious wait-and-see attitude of industry players. The favorable factors for BDO supply have weakened.
On the cost side, raw material calcium carbide: The price of raw material blue charcoal has been raised by 60 yuan/ton, further increasing the loss pressure on calcium carbide enterprises. Under cost pressure, the increase in maintenance equipment has led to a narrow decline in supply, and the destocking performance in the production area market is obvious. Raw material methanol: The domestic methanol market is weak and consolidating. As of 10:00 am on November 14th, the reference price for domestic methanol in Taicang is 2070 yuan/ton. The prices of raw materials such as calcium carbide and methanol are relatively weak, and the cost of BDO is affected by negative factors.
On the demand side, with the restart of maintenance equipment, the main downstream PTMEG industry has also increased its negative operation, while other downstream loads have remained stable, resulting in an overall increase in demand side consumption. However, downstream industries face significant loss pressure, with multiple parties holding contracts to follow suit, and spot purchases being light and negotiated. The demand side of BDO is affected by bearish factors.
In the future forecast, the supply side will experience a slight reduction in supply due to equipment maintenance in Sichuan. There is no significant change in downstream industry demand, and it is necessary to follow up on essential needs but negotiate accordingly. Business analyst BDO predicts that the domestic BDO market is mainly weak and stable.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the aniline market has been consolidating after a recent rise. On November 5th, the market price of aniline was 7525 yuan/ton, and on November 13th it was 7737 yuan/ton, with a 2.82% increase during the period and a 18.55% decrease compared to the same period last year.
2、 Analysis and Review
Recently, the aniline market has stopped falling and risen. Due to the tight supply and high prices of raw material nitric acid, the price of aniline has risen. Considering downstream acceptance capacity, the price has since stabilized. Aniline enterprises have smooth inventory flow and low inventory pressure. The price of raw material pure benzene is consolidating at a low level, and downstream demand is entering the market. The supply and demand are relatively stable, and the price of aniline remains stable.
Cost aspect: Recently, the pure benzene market has been weak and declining. The overall supply of pure benzene remains loose, port inventories are accumulating, and traders’ enthusiasm for entering the market is average. Industry players hold a pessimistic attitude towards the future market, and it is expected that the pure benzene market will continue to bottom out in the future.
3、 Future expectations
The current trading in the aniline market is stable, with relatively low inventory pressure. It is expected that the aniline market will maintain a consolidation trend in the short term, and close attention will be paid to changes in raw materials and supply and demand in the future.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of November 12th, the average quotation price of domestic high-quality DMF enterprises is 4000 yuan/ton. Currently, the DMF market is mainly operating weakly, with insufficient driving force for price increases. The market supply is sufficient, with downstream essential procurement as the main focus, limited number of new customers, and mainly contract customers.
2、 Cause analysis
Market wise: Currently, the DMF market is facing a situation of oversupply. Since November, DMF prices have mainly fluctuated in a narrow range. Demand has recovered slowly, with prices remaining at around 4000 yuan/ton. Overall market demand is weak, production capacity continues to be released, and manufacturers have generally reduced production to alleviate pressure.
Supply and demand relationship: Upstream methanol prices continue to decline, with prices operating in a narrow range. Methanol production capacity continues to expand, port inventory accumulates, downstream demand is insufficient, consumption is slow, and there is a risk of declining operating rates. Currently, the overall market sentiment is weak, and there is insufficient motivation for price increases.
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, the DMF market is operating steadily with small fluctuations, and the market price increase is insufficient.