This week, the epoxy chloropropane market continued its downward trend. According to the monitoring and analysis system of Shengyi Society, as of June 12th, the benchmark price of Shengyi Society’s epichlorohydrin was 9300.00 yuan/ton, a decrease of -4.12% compared to the beginning of this month (9700.00 yuan/ton).
Price influencing factors:
On the raw material side, the external price of glycerol remains high and strong, while domestic demand is weak, resulting in a slight decrease in its focus. However, the cost of glycerol based epichlorohydrin is still under high pressure. The market price of raw material propylene has slightly decreased, and the cost support is still insufficient. According to the market analysis system of Shengyi Society, as of June 12th, the benchmark price of propylene in Shengyi Society was 6513.25 yuan/ton, a decrease of 0.38% compared to the beginning of this month (6538.25 yuan/ton).
Supply side: The average production capacity utilization rate of propylene based epichlorohydrin is 90% or above, and production is currently active; Due to the significant losses incurred by the company, the capacity utilization rate of glycerol method is only around 40%. Overall, the supply of epichlorohydrin is relatively sufficient.
Downstream demand side: The demand for epoxy resin in the downstream market has weakened, with sluggish actual order transactions and a capacity utilization rate of over 50%. Overall, downstream demand is average, and the market has a strong wait-and-see attitude.
Market forecast: Analysts from Shengyi Society believe that the cost side support is insufficient, downstream demand is weak, the purchasing mentality is not positive, and the actual trading atmosphere in the market is cold. It is expected that the market for epichlorohydrin in the short term will maintain a stable to weak trend, and more attention still needs to be paid to changes in raw material prices and market supply and demand.

price trend
Fall after the festival: After the Dragon Boat Festival, the enthusiasm of Shandong market downstream and traders to receive orders slowed down. Although some devices were reduced in load and overhauled, the market supply performance was loose, and the shipment of holders dominated. Yesterday, dichloromethane fell to the low point within the week, down 7.78%, down 12.68% year on year.
Low rebound: With the weakening of prices, the demand for replenishment at low prices in the market has increased, and trading activity has increased. According to the monitoring of the commodity market analysis system of Shengyi Society, as of June 11th, the average price of dichloromethane in Shandong Province was 2175 yuan/ton, a decrease of 6.05% during the week and a year-on-year decrease of 7.45%.
analysis of influencing factors
Supply side: Local enterprises have lowered negative loads to stabilize prices, while overall supply remains relatively loose
Device dynamics: The overall production of the industry has rebounded to around 80%, and the supply is relatively stable. Currently, some enterprises are reducing negative loads to stabilize prices.
Inventory pressure: Some manufacturers have accumulated inventory and mainly rely on destocking after the holiday, resulting in price pressure.
Cost side: Methanol rebounds, liquid chlorine oscillates upwards
Methanol: The supply is relatively loose. Currently, there is an increase in domestic production and a reduction in imports of methanol. Although port inventory has accumulated, shipments are still acceptable. Methanol prices have bottomed out and rebounded. As of June 11th, the spot price of methanol in Shengyi Society was reported at 2360 yuan/ton, with a 4.89% increase for the week. It is expected that the import arrivals at the port will gradually increase, and the accumulation of inventory will continue.
Liquid chlorine: The price of liquid chlorine in Shandong has fluctuated and rebounded, providing some support for the cost of dichloromethane.
Demand side: Dichloromethane, as an important organic solvent and chemical raw material, is widely used in the fields of refrigerants, pharmaceuticals, coatings, adhesives, electronic cleaning, etc. It is often purchased at low prices and in high demand.
Refrigerants are still in the peak demand season, and prices continue to show a stable but rising trend. R32 (mainly used for household and commercial air conditioning), currently has a domestic average price of over 50000 yuan per ton, a year-on-year increase of 42%. However, enterprises mostly produce their own raw material dichloromethane, with a relatively small proportion of external purchases. Due to quota restrictions, the industry’s incremental space is limited, and support for dichloromethane is weak.
The coatings and adhesives industry is experiencing a seasonal recovery, with June entering the peak season for construction and decoration. Demand has improved month on month, but due to environmental policies, some companies are turning to low VOC solvents.
The electronic cleaning industry benefits from the stocking of new energy vehicles, energy storage, and consumer electronics, with a steady growth in demand for high-purity DCM.
The pharmaceutical industry requires stability, but some companies are exploring alternative solutions under high environmental standards.
Future prospects
The game between cost support and loose supply, short-term fluctuations in dichloromethane consolidation, if industries such as coatings and electronics continue to replenish inventory, prices may rebound slightly; If the downstream wait-and-see sentiment intensifies, it is not ruled out that another bottoming out may occur.

According to the Commodity Market Analysis System of Shengyi Society, from June 2nd to 6th, MTBE prices fell from 5042 yuan/ton to 4937 yuan/ton, with a price drop of 2.08% during the cycle, a month on month increase of 1.54%, and a year-on-year decrease of 25.61%. The domestic MTBE market first rose and then fell. The market was relatively strong in the early part of the week, mainly due to the support of crude oil and gasoline ship orders, so manufacturers increased prices and volume. However, as prices rose to a relatively high point, many manufacturers released their production plans, and the expected increase in resource supply without substantial positive support from the demand side, the MTBE market fluctuated downward.
On the cost side, in terms of crude oil: The rise in international oil prices is mainly due to the continued signs of geopolitical tension, leading to potential supply risks. The Canadian wildfires have reduced crude oil production, and the traditional peak season in the United States has released positive news, providing support for oil prices. As of June 5th, the settlement price of Brent crude oil futures for the August contract was $65.34 per barrel.
On the demand side, in terms of gasoline terminal demand, the slight weakness in gasoline terminal demand has led to slow digestion of inventory by social units, and the intention of large orders from mid to downstream merchants is weak. Business operators tend to purchase relevant gasoline components on demand. The MTBE demand side is affected by bearish factors.
Supply side: Many manufacturers have released their start-up plans. Short term domestic MTBE supply is affected by bearish factors.
As of the close on June 5th, the closing price of the Asian MTBE market has decreased by $9.84/ton compared to the previous trading day, and FOB Singapore closed at $668.32-670.32/ton. The closing price of the European MTBE market has increased by $10/ton compared to the previous trading day, with FOB ARA closing at $756.74-757.24/ton. The closing price of the MTBE market in the United States increased by $10.24/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $674.64-674.99/ton (190.49-190.59 cents/gallon).
Short term MTBE production is expected to increase and the overall supply side is expected to grow. Cost pressure still exists, supporting the bottom price of MTBE. There is some favorable support on the export side. The MTBE analyst from Shengyi Society believes that the domestic MTBE market is mainly volatile.

In early June, the domestic ABS market remained stable with some decline, and the spot prices of most grades showed narrow fluctuations. According to the Commodity Market Analysis System of Shengyi Society, as of June 9th, the average price of ABS sample products was 10562.50 yuan/ton, with a price level increase or decrease of -0.59% compared to early June.
Fundamental analysis
Supply level: In early June, the load of the domestic ABS industry remained generally stable, with the overall load level rising narrowly from 61% at the beginning of the month to the current 64%. The average weekly output is close to 120000 tons, and the inventory level of aggregation enterprises has significantly increased, with sufficient supply on site. At the same time, the recent release of new equipment capacity by two companies has had a suppressive impact on the supply side support of the industry, and the long-term loose supply pattern of the ABS market remains unchanged. Overall, the supply side has poor support for ABS spot prices.
Cost factor: In early June, the trend of ABS upstream three materials was relatively soft, providing average support for ABS cost side. In terms of acrylonitrile, the capacity utilization rate of major downstream industries in China has not changed much, and the overall market supply is abundant, but there is a shortage of purchasing gas. The planned production of facilities such as Zhenhai Refining and Chemical has suppressed market sentiment. There is a stage demand in some parts of southern China, which to some extent delays the market downturn.

In the early stage, there were unplanned maintenance of some domestic butadiene units, coupled with tight port supply, which led to tight supply in the butadiene market and strengthened the atmosphere of the spot market. After the price rose to a high level at the end of May, the trading atmosphere in the market began to fade. Entering June, downstream demand for synthetic rubber was weak in the latter half of the year, and port sources in East China accumulated, resulting in continued loose supply and weak consolidation of butadiene prices.
Recently, the domestic price of styrene has mainly declined. In terms of cost, crude oil fluctuates within the range, pure benzene is weakly consolidated, and the raw material side lacks support for styrene. In terms of supply and demand, the recent profit of styrene is still acceptable, and some units have plans to restart in advance. The downstream demand side remains stable with limited increment. Overall, the supply and demand side is expected to weaken. Under the bearish fundamentals, it is expected that the styrene market will operate weakly in the short term.
On the demand side: As we enter June, 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. The current market is gradually entering the traditional off-season, with reduced liquidity of goods sources and high inventory levels, resulting in continued loose supply and ample room for on-site turnover. Overall, the demand side showed weak support for the ABS market in June.
Future forecast
In early June, the domestic ABS market was consolidating and weak. The prices of upstream three materials are weak, the production load of ABS polymerization plants has slightly increased, and the comprehensive support on the cost and demand sides has weakened. Business analysts believe that the industry’s strong supply and weak demand pattern has dragged down spot prices for a long time, coupled with the off-season of consumption, and industry players have returned to a cautious attitude. Under the dual pressure of cost and demand, it is expected that the ABS market will continue to consolidate weakly in the short term.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of bromine has been consolidating this week. The average market price at the beginning of the week was 24800 yuan/ton, and the average market price over the weekend was 25000 yuan/ton, with a price increase of 0.81%, which is 9.65% higher than the same period last year. On June 5th, the Business Society Bromine Index was 87.02, unchanged from yesterday, a decrease of 64.51% from the highest point of 245.18 points (2021-10-27) during the cycle, and an increase of 47.69% 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 been consolidating, with a reference price of 24500-26500 yuan/ton for spot production of bromine 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 2454.33 yuan/ton at the beginning of the week and 2407.67 yuan/ton over the weekend. The price has decreased by 1.9% and increased by 122.25% 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 acrylic acid market experienced a significant broad decline. The formation of this trend is mainly influenced by the cautious and wait-and-see attitude of downstream markets. As of June 4th, the benchmark price of acrylic acid in Shengyi Society was 7333.33 yuan/ton, a decrease of -6.38% compared to the beginning of this month (7833.33 yuan/ton).
Supply and demand side:
The production and supply of acrylic acid are relatively sufficient, but downstream demand has not kept up with this pace. Downstream customers have generally adopted more cautious procurement strategies in the face of market uncertainty, resulting in insufficient market demand for acrylic acid. This supply-demand imbalance has further exacerbated the decline in acrylic acid prices.
From a technical perspective, the production technology of acrylic acid is relatively mature and the market competition is fierce. In order to compete for market share, some manufacturers have had to adopt a price reduction strategy, which has further driven down the price of acrylic acid.
Cost side:
Raw material propylene: Affected by the weakening of crude oil and the restart of PDH units, the price of propylene fell to 6555.75 yuan/ton (a monthly decrease of 2.15), and the cost line of acrylic acid further shifted downwards.
Looking ahead to the future:
The trend of the acrylic acid market will depend on the combined effect of multiple factors. On the one hand, the degree of recovery of downstream demand will directly affect the price trend of acrylic acid. If downstream demand can gradually recover, the price of acrylic acid is expected to stabilize and rebound. On the other hand, changes in the macroeconomic environment will also have a significant impact on the acrylic acid market. If the global economic situation can stabilize, the acrylic acid market is also expected to usher in new development opportunities.
In summary, the broad decline in the acrylic acid market this week was mainly influenced by the cautious wait-and-see attitude of downstream investors. In the future, the trend of the acrylic acid market will depend on the combined effect of multiple factors, and all parties need to closely monitor market dynamics.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the reference average price of 85% industrial thermal phosphoric acid in China was 6730 yuan/ton on May 30th, and 6870 yuan/ton on May 1st. This month, the price of 85% industrial thermal phosphoric acid in China has dropped by 2.04%.
2、 Market analysis
This month, the market price of phosphoric acid has been weak and declining. This month, the price of raw material yellow phosphorus has decreased, and cost support has weakened. Phosphoric acid has also decreased in line with the raw material market. The trading in the phosphoric acid market is flat, and downstream demand for replenishment is urgent. At present, the phosphoric acid market is mainly wait-and-see, with average new order transactions.
As of May 30th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6400-6700 yuan/ton, in Sichuan region it is around 6400-6600 yuan/ton, and in Yunnan region it is around 6600 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6700-7300 yuan/ton.
Raw material yellow phosphorus market. The yellow phosphorus market has declined this month, with bearish sentiment dominating the market. The yellow phosphorus market has sufficient supply and light trading. Poor terminal demand, reduced downstream inquiries, and weakened purchasing intentions.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been steadily consolidating and operating in recent days. The raw material yellow phosphorus market is weak and lacks cost support. The trading atmosphere in the phosphoric acid market is poor, with a focus on observing the trend of raw materials. It is expected that the domestic phosphoric acid market will weaken and consolidate in the short term.

1、 Price trend
Taking the sulfuric acid method for producing pyrite type titanium dioxide, which has a large volume of goods in the domestic market, as an example, according to data monitoring by Business Society, the price of titanium dioxide in the domestic market fell in May. On May 1st, the average price of titanium dioxide was 15480 yuan/ton, and on May 29th, the average price of titanium dioxide was 15080 yuan/ton, with a price reduction of 2.58%.
2、 Market analysis
The domestic titanium dioxide market price fell in May. In the first half of the year, the price of sulfuric acid in the upstream fluctuated at a low level, and the market price of titanium concentrate decreased. Downstream enterprises have a strong wait-and-see attitude, with limited new transactions and a decrease in market prices. The downstream market has not shown much improvement in the middle of the month, with light market transactions and continued price reductions. In the latter half of the year, downstream demand for titanium dioxide was weak, and the price of raw material sulfuric acid slightly increased, putting pressure on enterprise costs and putting the titanium dioxide market in a stalemate. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 14000-15600 yuan/ton; Sharp titanium type costs around 12700-13000 yuan/ton; The actual transaction price is negotiable.
In terms of titanium concentrate, the price of titanium concentrate remained weak in May. At present, the titanium concentrate market is experiencing insufficient production, leading to significant cost pressures for enterprises. Downstream demand for titanium dioxide is weak, resulting in light new orders and cautious procurement of raw materials. Overall, the market price of titanium concentrate is unlikely to rise and will continue to operate steadily. As of now, the transaction price of 46,10 titanium ore for small and medium-sized manufacturers is between 1870-2100 yuan/ton; The price of 47,20 ore ranges from 1950 to 2150 yuan/ton; The price of 38 titanium ore excluding tax is around 1180-1250 yuan/ton. It is expected that in the short term, the stable operation of titanium concentrate in the Panxi region will be the main focus.
According to customs data statistics, in April 2025, China imported 6587.73 tons of titanium dioxide, a year-on-year decrease of 2.71% and a month on month decrease of 20.45%. Among them, 3858.16 tons of chlorinated titanium dioxide and 2729.57 tons of sulfuric acid titanium dioxide were imported. From January to April, a total of 27374.49 tons of titanium dioxide were imported, a year-on-year decrease of 11.87%; Among them, 15815.51 tons of chlorinated titanium dioxide and 11558.99 tons of sulfuric acid titanium dioxide were imported.
According to customs data statistics, the export of titanium dioxide in April 2025 was approximately 148000 tons, a year-on-year decrease of 5.96% and a month on month decrease of 20.00%. Among them, 30400 tons of titanium dioxide were exported by chlorination method and 117600 tons were exported by sulfuric acid method. From January to April 2025, the cumulative export of titanium dioxide was 649000 tons, a year-on-year increase of 0.32%; Among them, 127900 tons of chlorinated titanium dioxide were exported, a year-on-year decrease of 1.85%, and 521100 tons of sulfuric acid titanium dioxide were exported, an increase of 0.87% year-on-year.
In 2025, the European Union and Brazil will impose tariffs on Chinese titanium dioxide. The anti-dumping measures have led to a continuous decline in the export volume of titanium dioxide in China. According to the export data of titanium dioxide in 2025, the export volume in January was 158400 tons, but it has declined to 148000 tons in April. From January to April 2025, the cumulative export volume of titanium dioxide in China was 649000 tons, a year-on-year increase of 0.3%, but the growth rate slowed down significantly.

On May 10, 2025, the Revenue Department of the Indian Ministry of Finance issued Notice No. 12/2025 Custods (ADD), accepting the affirmative final determination of the Indian Ministry of Commerce and Industry on titanium dioxide originating from or imported from China on February 12, 2025, and deciding to impose anti-dumping duties of $460-681/ton on the products involved in China, valid for 5 years.
The total export volume of titanium dioxide from China in 2024 is 1.9 million tons, of which India accounts for 16%, about 300000 tons; In the first quarter of 2025, the total export volume of titanium dioxide from China was 500000 tons, with India accounting for 20%, about 100000 tons. In April 2025, India was the largest exporter of titanium dioxide from China, with an export volume of 1827.95 tons. From this, it can be seen that India, as an important trading country for titanium dioxide in China, the imposition of anti-dumping duties has led to an increase in the cost of titanium dioxide, which will seriously affect China’s competitive advantage in the titanium dioxide export market to India. After India imposed anti-dumping duties, the profit margins of enterprises in exports have been further compressed, and some enterprises may face greater operational pressure.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market has declined this month. The downstream market is sluggish, and new orders are being executed cautiously. Internationally, the release of India’s anti-dumping measures has resulted in a weak market export situation. The formation of certain negative factors in the domestic market affects the mentality of downstream markets. It is expected that the price of titanium dioxide will be weak in the short term, and the actual transaction price will be negotiated one by one.

According to the monitoring of the commodity market analysis system of Shengyi Society, as of May 30th, the price of 0 # zinc was 22738 yuan/ton, a slight increase of 0.81% compared to the zinc price of 22556 yuan/ton on May 26th.
This week’s market analysis
This week, the zinc price rose within the range and later rebounded. Overall, there has been a slight increase.
After experiencing a round of decline, the price has entered a period of oscillation, and recently it has shown a trend of building a horizontal consolidation range, and the range of price fluctuations is gradually narrowing.
Raw material end
There is a strong willingness to raise the price of zinc concentrate at the end, but the recovery rate of processing fees is slow.
Supply and demand side
The preferences of downstream processing enterprises in raw material selection have changed. At present, the inventory turnover days of galvanized sheet have been extended, which may exert some restraint on the premium space of refined zinc. However, considering the expectation of a rebound in infrastructure investment still exists, this provides some support for the market.
Inventory end
At present, social inventory has been destocked, but it still remains at a high level.
comprehensive analysis
Due to the persistent situation of oversupply, prices have been suppressed and the downward trend of oscillation continues.