According to the monitoring and analysis system of Shengyi Society, as of October 15th, the benchmark price of Shengyi Society’s epichlorohydrin was 12500.00 yuan/ton, an increase of 2.46% compared to the beginning of this month (12200.00 yuan/ton).
Price influencing factors:
Raw material end: High level support of glycerol propylene. The combination of high external prices and tight supply has led to increased cost pressure on the glycerol based epichlorohydrin factory, significantly squeezing profit margins and forming rigid support for epichlorohydrin prices. The current supply-demand imbalance in the glycerol market is prominent, and it is expected that cost pressures will continue to be transmitted to the downstream epichlorohydrin industry chain in the short term. According to the market analysis system of Shengyi Society, as of October 15th, the benchmark price of propylene in Shengyi Society was 6380.75 yuan/ton, a decrease of 2.48% compared to the beginning of this month (6543.25 yuan/ton).
Demand side: The pressure of epoxy chloropropane price increase is being transmitted downwards along the industry chain. Although coating companies are facing significant cost pressures, downstream stocking demand still provides rigid support for prices. In the short term, the market presents a dual feature of cost push and demand bottoming out. It is expected that the market price of epichlorohydrin will remain weak and stable in the later stage.
Market forecast: Analysts from Shengyi Society believe that the prices of glycerol and propylene on the cost side still provide support for epichlorohydrin, and downstream demand is limited due to urgent purchases. It is expected that the market price of epichlorohydrin will remain weak and stable in the later stage, and more attention still needs to be paid to changes in raw material prices and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, after the National Day holiday, negative factors still exist, and the domestic adipic acid market continues to decline. On October 1st, the average market price of adipic acid was 7200 yuan/ton. On October 14th, the average market price of adipic acid in China was 7033 yuan/ton, a decrease of 2.31%.
The bearish sentiment is still steadily declining in the domestic adipic acid market
Since the National Day holiday, the prices of cyclohexanone and pure benzene raw materials for adipic acid have been weak and declining. The demand for terminal rigidity is sluggish, and the transaction volume in the adipic acid market is average. Manufacturers have lowered their ex factory prices one after another, and the adipic acid market continues to decline. As of October 14th, the price has fallen to 7033 yuan/ton, with a price drop of nearly 3%. The combination of negative factors has led to a continuous bottoming out of the adipic acid market.
An analyst from Shengyi Society believes that in mid October, the rigid demand in the terminal industry declined, and the raw material market was sluggish. The market for adipic acid continued to fluctuate weakly in the future.

Yesterday, Sinopec’s listing price was lowered, and the market continued to decline. The listing price of Sinopec East China has been lowered by 100, with a price of 4400 yuan/ton, and the listing price of Sinopec North China acetone has been lowered by 200, with a price of 4300 yuan/ton. The factory’s profits have once again fallen, and it is difficult to change the loss situation in the short term.
The supply is sufficient, and the port inventory increased to a high of 31000 tons at the beginning of the week. The operating rate of domestic phenol ketone enterprises is nearly 80%, and the spot circulation in the market is high. Traders are under great pressure to ship, and low-priced goods are frequently available. At this time, Sinopec has lowered its listing prices, intensifying the market’s wait-and-see sentiment. In terms of demand, the participation of intermediate traders is limited, and downstream factories urgently need to follow up, resulting in fewer actual transactions. However, the market is currently at a low level for the year, and downstream companies are purchasing in moderation according to demand.
The acetone offers in major mainstream markets across the country on October 14th are as follows:
Region. Quotation on October 14th /Daily increase and decrease
East China region / 4250-4300./ -100
Shandong region / 4350./ -100
Yanshan region / 4350./ -100
South China region / 4450./ -50
From the perspective of Business Society, the acetone market is difficult to change in the short term, and today the market is still running weakly, making it difficult for trading to improve.

After the holiday, the price of isooctanol stopped falling and rebounded
According to the Commodity Market Analysis System of Shengyi Society, as of October 11th, the price of isooctanol was 6533.33 yuan/ton, a decrease of 2.00% compared to the price of 6666.67 yuan/ton on October 1st; The price of isooctanol has increased by 0.77% from 6483.33 yuan/ton on October 10th. Partial maintenance of isooctanol equipment in some enterprises resulted in a slight decrease in operating load and supply of isooctanol after the holiday; The profit margin of isooctanol is on the edge of the cost line, and manufacturers have a strong willingness to raise prices. After the holiday, the supply of isooctanol decreased, and companies replenished their inventory, resulting in a rebound in the price of isooctanol.
Downstream plasticizer DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of October 11th, the DOP price was 7309.16 yuan/ton, a fluctuating decrease of 0.79% compared to the DOP price of 7367.50 yuan/ton on October 1st. After the holiday, DOP prices fluctuated and fell, with less than 60% of DOP enterprises operating at capacity and a slight decrease in operating rates. The demand for isooctanol was weak, and downward pressure on isooctanol prices still exists.
Future expectations
According to the data analyst of Business Society’s octanol product, on the supply side, the profit of isooctanol has decreased, and isooctanol enterprises have a strong willingness to raise prices. The equipment operating load of isooctanol enterprises has slightly decreased, and the supply of isooctanol has decreased. In addition, post holiday inventory replenishment has increased the support for the rise of isooctanol. In terms of demand, DOP prices have fluctuated and fallen, while DOP companies have seen a slight decrease in production, and the support for isooctanol demand has weakened. In the future, the demand for isooctanol remains weak, and there is significant downward pressure on isooctanol; However, due to the decrease in supply and the need to replenish inventory after the holiday, there is a strong desire for an increase in the price of isooctanol, and it is expected that the price of isooctanol will fluctuate and consolidate in the future market.

After the holiday, the price of epoxy propane in China increased slightly. According to the monitoring system of Shengyi Society, as of October 10th, the benchmark price of Shengyi Society’s epoxy propane was 7866.67 yuan/ton, an increase of 1.29% compared to October 1st.
Price influencing factors:
Raw material side: The raw material propylene shows a trend of “first suppression and then rise” before and after the double festival. In the early stage of the Double Festival, the restart of the PDH unit led to an increase in supply, and the price of propylene fell under pressure; Subsequently, Hebei and Lihua Yi stopped production, and the contraction of supply pushed prices to rebound. Returning to the market after the holiday, the equipment maintenance plan and downstream external procurement demand support the continuous upward push of the offer. As of October 10th, the benchmark price of propylene in Shengyi Society was 6588.25 yuan/ton, an increase of 0.69% compared to the beginning of this month (6543.25 yuan/ton). The rise in raw material propylene prices has provided some support to the epoxy propane market.
Supply side: The epoxy propane supply side will tighten after the holiday. The suspension of sales by Lihua Yiwei Yuan and the maintenance of the main factory in Shandong have reduced the circulation of spot goods, and the low inventory of manufacturers has driven up the price of epoxy propane. In the later stage, attention should be paid to the maintenance and recovery situation of major manufacturers, as well as the inventory digestion rhythm of Qixiangda and the progress of Wanhua’s fourth phase new production capacity deployment. It is expected that the price of epoxy propane will rise but not fall in the near future.
Demand side: Downstream polyether enterprises are holding onto their essential procurement needs in multiple dimensions after the holiday, with a strong wait-and-see attitude. The load adjustment of the polyether end is limited, while the propylene glycol enterprise is increasing its load, and the overall demand performance is flat.
Market forecast:
Business Society’s epoxy propane analyst believes that the main reason for the rebound in epoxy propane prices is the suspension of sales by Lihua Yiwei Yuan and the tightening of supply caused by the maintenance of the main factory in Shandong. There is also some support in raw material prices, but downstream polyether rigid demand procurement is the main focus, and there is a strong wait-and-see sentiment. It is expected that the epoxy propane market will be prone to rise but difficult to fall in the later stage, and more attention should be paid to changes in raw material prices and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, the domestic MTBE market experienced strong fluctuations in September. From September 1st to 29th, MTBE prices rose from 5007 yuan/ton to 5050 yuan/ton, with a price increase of 0.85% during the period and a maximum amplitude of 3.39%. The price decreased by 9.13% year-on-year.
After entering September, the domestic MTBE market mostly maintained a sideways consolidation, with little room for price fluctuations. International crude oil continues to rise and terminal operators are replenishing their inventories in moderation, supported by favorable factors, resulting in strong price performance. In the latter half of the month, market prices slightly fell, and the phased replenishment of inventory by industry players came to an end. As the end of the month approached, there was a demand for manufacturers to stock up, and the market saw a narrow and weak consolidation due to mutual competition.
On the cost side, international crude oil prices are showing an upward trend. In the first ten days, the market was concerned that OPEC+would launch a new production increase plan, increasing the risk of oversupply and causing a decline in international oil prices. In the middle of the month, the uncertainty of the Russia Ukraine situation still exists, and the United States has stated that it reserves the option of imposing sanctions on Russia, leading to an increase in international oil prices. In the last ten days, the strength of the Russia-Ukraine conflict was strengthened, the market was worried about the potential supply risk, and the international oil price rose.
On the demand side, in terms of gasoline terminal demand, after the National Day holiday, businesses may have a certain demand for purchasing as their inventory is depleted, but it is expected to be difficult to sustain. Demand will gradually weaken in the middle and late stages, and businesses may maintain a strong demand for related gasoline raw materials procurement. The MTBE demand side is affected by bearish factors.
On the supply side, there is a possibility of a narrow increase in MTBE resource supply due to the early shutdown of equipment and the possibility of maintenance of some large manufacturers’ dehydrogenation units. The overall domestic MTBE supply is affected by bearish factors.
As of the close on September 26th, the closing price of the Asian MTBE market has increased by $4.06/ton compared to the previous trading day, with FOB Singapore closing at $677.97-679.97/ton. The closing price of the European MTBE market increased by $21.25/ton compared to the previous trading day, and FOB ARA closed at $872.99-873.49/ton. The closing price of the MTBE market in the United States increased by $12.07 per ton compared to the previous trading day, and the FOB Gulf offshore price closed at $845.84-846.20 per ton (238.83-238.93 cents per gallon).
The future forecast shows weak supply and demand, and MTBE analysts from Shengyi Society believe that the domestic MTBE market situation may mainly consolidate.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market slightly declined in late September. As of September 30th, the average market price of n-butane oxidation maleic anhydride remained at 5450.00 yuan/ton, a decrease of 3.11% from 5625.00 yuan/ton on September 21st.
In terms of supply, the overall market for maleic anhydride fell in late September, and the previous pre holiday destocking of maleic anhydride factories provided limited support for the market; The downstream unsaturated resin of maleic anhydride has limited procurement of maleic anhydride, and the stocking atmosphere is poor; At the end of the month, Wanhua’s auction prices continued to rise, with factory prices following Zhang, but overall dealer quotes remained stable. As of September 30th, the factory price of solid anhydride in the maleic anhydride market in Shandong Province is around 5100 yuan/ton, while the factory price of liquid anhydride is around 4800 yuan/ton.
Upstream: The n-butane market rose in late September, and as of September 30th, the price in Shandong was around 4650 yuan/ton.
Downstream: Currently, the unsaturated resin market is weak, with most plans for short-term shutdowns or negative load reductions during the National Day holiday. Downstream transactions are average, and support for unsaturated resin is limited, resulting in a weak market situation.
The analyst of Shengyi Society’s maleic anhydride products believes that the current downstream unsaturated resin market for maleic anhydride is weak, and the procurement of maleic anhydride is limited; At present, there is no holding pressure in the factory, and logistics are restricted during the holiday period. It is expected that the maleic anhydride market will mainly consolidate after the holiday.

According to the monitoring of the commodity market analysis system of Shengyi Society, the overall magnesium ingot market in Shaanxi region fluctuated at a high level. At the end of the month, with the correction of the non-ferrous sector, the market average price was 16775 yuan/ton at the end of the month, and 17250 yuan/ton at the beginning of the month, with a monthly decline of 2.75%.
This month’s market analysis
During the “Golden September” season, the market demand was sluggish. Despite the strong willingness of magnesium factories to raise prices, internal divisions began to emerge within the supply side in the context of continued sluggish procurement. In the retail market, low-priced products frequently emerge, and the price threshold of 17000 yuan is ultimately difficult to maintain; At the beginning of the month, there was a strong bearish atmosphere in the market, and the pace of price suppression during downstream inquiries significantly accelerated. Some factories actively chose to reduce prices for promotions in order to clear inventory; In the middle and late months, the prices of raw materials such as coal, dolomite, and ferrosilicon rose one after another, driving a slight rebound in magnesium ingot prices. However, terminal demand remained weak, and even before the National Day and Mid Autumn Festival, downstream stocking was not active. After a brief game stalemate, the mainstream transaction prices in the magnesium market have shown a stable to weak trend.
Supply and demand side
On the supply side, due to the resumption of production by most magnesium plants in September and the significant recovery of profits in the magnesium market, magnesium plants that were previously shut down due to costs have gradually resumed production, driving output growth. Resulting in a month on month increase in magnesium production in September. Due to the sustained market conditions in the early stage, magnesium production has been hovering at a low level in the first half of 2025, and the industry has entered a long-term destocking stage. The dual impact of low production and low inventory has driven up magnesium prices and gradually restored production confidence in magnesium plants, ultimately resulting in magnesium production from January to September 2025 equaling the same period in 2024.
In September, the magnesium alloy market showed a trend of strong supply and demand. Among them, the surge in demand in terminal fields such as two wheeled electric vehicles and new energy vehicles has driven the demand growth rate of magnesium alloys to significantly exceed the supply growth rate. The overall market presents a tense situation of supply and demand shortage, which in turn drives processing fees to continue to rise. Entering October, magnesium alloy production is expected to achieve a slight increase. As the hot weather gradually recedes, the operating rate of top manufacturers is expected to steadily increase; Meanwhile, the recent increase in alloy processing fees has effectively improved the profit margin of processing. The alloy factories of the original magnesium manufacturers in Shaanxi are expected to release new production capacity in October. In view of this, it is expected that the subsequent alloy production will maintain an upward trend.
In terms of raw materials
The market price of ferrosilicon in September showed an alternating trend of rise and fall. At the beginning of the month, with the new round of electricity price settlement, the production cost of ferrosilicon was strongly supported. At the same time, the market demand has increased and the supply of goods is relatively tight. Under the combined effect of these factors, the price of ferrosilicon has shown strong performance.
Future forecast
In October, several original magnesium smelters in provinces such as Ningxia, Shaanxi, and Inner Mongolia have formulated plans to resume production. With the resumption of production by these manufacturers, the supply of magnesium in the market is expected to experience significant growth. With a significant increase in supply, the operation of magnesium prices will undoubtedly face greater pressure. Overall, the supply and demand pattern of the magnesium market will once again shift towards a situation of strong supply and relatively weak demand. Therefore, it is expected that magnesium prices will face significant pressure in October and exhibit a trend of pressure operation.