1、 Price trend
According to data monitored by Business Society, as of May 28th, the average price of domestic industrial grade high-quality cyclohexane was 7450 yuan/ton, with downstream market demand mainly for essential purchases, and the mainstream market price was around 7500 yuan/ton.
2、 Market analysis
In terms of demand, the downstream demand for cyclohexane is weak, the overall market supply and demand are balanced, the driving force for price increases is insufficient, and the downstream procurement atmosphere is average.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the cyclohexane market is currently maintaining its current trend, with a moderate downstream purchasing atmosphere and an overall market supply-demand balance, resulting in insufficient upward momentum for prices.

According to Announcement No. 13 of the Ministry of Commerce in 2020, the anti-dumping measures on acetone did not end on June 8, 2020, but continued to be implemented from June 8, 2020, for a period of 5 years. Therefore, the anti-dumping measures for acetone are still being implemented.
If the anti-dumping measures end on June 8th, there may be the following consequences:
1. Imports increased significantly: Imported acetone originating in Japan, Singapore, South Korea and Taiwan, China may enter the Chinese market in large quantities. The producers in these regions are highly dependent on the Chinese Mainland market and have large capacity.
2. Intensified price competition pattern: Imported acetone may enter the Chinese market at a low price, which will impact the price system of acetone industry in Chinese Mainland, leading to a decline in the price of domestic similar products. The source of dumped imports of acetone will cause further damage to the acetone industry in Chinese Mainland in terms of market share decline and profit shrinkage.
If anti-dumping measures continue to be implemented, the above consequences will not occur. However, whether to continue implementing anti-dumping measures ultimately depends on the results of the review and investigation conducted by the Ministry of Commerce before the expiration date.
In the second quarter, as the weather turns hot and gradually enters the off-season of demand, coupled with the maintenance status of the Saudi Arabian unit and the planned production of the domestic Zhenhai Refining and Chemical Phenol Ketone Unit, the domestic supply will increase. Therefore, the import volume of acetone from June to August will decrease, and it is expected that the average monthly import volume of acetone in the second quarter will fluctuate around 35000 tons. In the second half of the year, if the anti-dumping measures end, there will be an increase in acetone imports, especially from overseas sources dumped into China, which will inevitably cause price shocks and lead to a downward shift in market focus.
If anti-dumping measures continue to be implemented, the above consequences will not occur. However, whether to continue implementing anti-dumping measures ultimately depends on the results of the review and investigation conducted by the Ministry of Commerce before the expiration date.

According to the Commodity Market Analysis System of Shengyi Society, the aggregated MDI market stopped rising and fell this week. Currently, the mainstream price for Shanghai goods is 16200-16300 yuan/ton, and the mainstream price for domestic sources (PM200) is 16400-16600 yuan/ton. Recently, the profit in the aggregated MDI market has been decent, with active sales by intermediaries and slight price fluctuations. During the week, the 800000 tons/year MDI plant in Fujian underwent maintenance in early June. The mentality of the industry has improved, with low prices increasing and demand side inquiries being active. Under the expectation of tight supply, it is expected that the aggregated MDI market will continue to operate strongly in the short term.

This week (May 19-23, 2025), the demand side remains sluggish, the adhesive short fiber market is consolidating and operating, and prices remain stable. The upstream raw material market is not performing well, while the downstream market is holding onto essential procurement in multiple dimensions. Demand fatigue remains unchanged, with weak support from both the cost and demand sides. The release of newly signed orders on the market is limited, and operators are mainly executing early-stage contracts. The price of adhesive short fiber market is being stabilized and regulated.
According to the Commodity Market Analysis System of Shengyi Society, as of May 23rd, the average market price of viscose staple fiber was 13360 yuan/ton, which was the same as the same period last week.
In terms of cost: This week (May 19-23, 2025), there was little change in the market price of raw material dissolving slurry, a slight rebound in the market price of auxiliary material liquid alkali, a continuous decline in the market price of sulfuric acid, a narrow decline in the market price of raw materials, and a slight decrease in the average production cost of adhesive short fibers.
Supply demand: The operating rate of adhesive short fiber manufacturers’ equipment remained stable within the week, and the industry supply remained stable. The downstream cotton yarn market has a strong wait-and-see atmosphere, with prices being mainly deadlocked. Insufficient orders have been placed in the terminal market, and downstream yarn companies still have a certain amount of raw material inventory. Coupled with high finished product inventory, a small number of orders have been signed on demand, and there has been no improvement in demand.
Future forecast
On the raw material side, the main material dissolution slurry market may operate weakly and steadily, the auxiliary material liquid alkali market may have an upward trend, and the sulfuric acid market or the overall market remains stable. Therefore, it is expected that the market price trend of adhesive short fiber raw materials will be inconsistent next week, and the cost support will be average.
Supply and demand side: The operating rate of the adhesive short fiber market equipment may not fluctuate significantly, and some manufacturers have high inventory levels. Therefore, it is expected that the supply side support of the adhesive short fiber market will be poor in the short term; Downstream yarn factories mainly consume raw material inventory and have a weak willingness to replenish raw materials. They may maintain rigid procurement, making it difficult for the demand side to improve. Therefore, it is expected that the demand side of the adhesive short fiber market will perform poorly next week.
Overall, the main raw material dissolution slurry market may experience weak consolidation, and downstream yarn market procurement enthusiasm is difficult to improve. The expected trading atmosphere in the market is flat, and it is expected that the domestic adhesive short fiber market will remain stable with small movements next week. The price is expected to be around 13000-13400 yuan/ton for acceptance.

Product Name: Pure Benzene
Latest price: The average market price on May 22nd was 5935.33 yuan/ton, a decrease of 0.67% from the previous trading day.
Analysis: The price of pure benzene in the domestic market has fallen. International crude oil futures closed lower, and the downstream styrene market declined, affecting confidence in the pure benzene market. Sinopec’s refineries in East and South China have lowered the price of pure benzene by 100 yuan to 6100 yuan/ton, which will be implemented on May 22nd. Shandong’s local refining enterprises have slightly lowered their quotations, and downstream demand for gas is slightly average, resulting in a weak market. It is expected that pure benzene will mainly fluctuate within a certain range in the short term, and actual transactions are subject to negotiation.

The domestic phenol market is weak and declining. According to data monitored by Business Society, for example, in the East China region, the price of phenol was quoted at 6972 yuan/ton on May 14th, and on May 20th, the phenol market in the East China region fell to 6680-6700 yuan/ton.
The raw material pure benzene continues to decline, with negotiations in the East China pure benzene market at 6050-6150 yuan/ton. After a slight increase in the North China region, downstream buying enthusiasm is poor, and the decline in downstream styrene has widened. The confidence in the pure benzene market is insufficient, and the cost side is bearish, resulting in limited downstream participation and a weak market trading atmosphere.
The operating rate of phenol ketone in China is 75%, and the profits of phenol ketone enterprises are still on the edge of the loss line. In the short term, both the cost and demand sides have performed poorly, and it is expected that the phenol market will operate lightly in the short term. Pay attention to the fluctuations in costs and supply and demand.

According to the commodity analysis system of Shengyi Society, the overall domestic market for maleic anhydride slightly increased in mid May. As of May 20th, the average market price of n-butane oxidation maleic anhydride remained at 6675 yuan/ton, an increase of 0.56% from 6673.50 yuan/ton on May 11th.
Supply side: In mid May, the maleic anhydride factory implemented a slight overall price adjustment; Downstream unsaturated resin manufacturers of maleic anhydride are cautious in their stocking operations and mainly adopt a wait-and-see approach. As of May 20th, the factory price of solid anhydride in Shandong region is around 6200 yuan/ton, and the factory price of liquid anhydride is around 5600 yuan/ton.
Upstream: The n-butane market fell sharply in mid May, and as of May 20th, the price in Shandong was around 4650-4700 yuan/ton.
Downstream: Unsaturated resin prices remained stable in mid May, with some manufacturers experiencing slight increases. Unsaturated resin is urgently needed for downstream purchases, with limited support and a strong wait-and-see sentiment in the market.
The analyst of Business Society’s maleic anhydride products believes that currently, the main downstream resin of maleic anhydride remains stable, while the upstream n-butane market of maleic anhydride has fallen sharply. The cost support of maleic anhydride is limited, and it is expected that the maleic anhydride market will mainly consolidate weakly in the near future.

According to the Commodity Market Analysis System of Shengyi Society, the domestic PTA spot market has shown a fluctuating upward trend since May. As of May 19th, the average market price in East China was 4993 yuan/ton, an increase of 8.93% from the beginning of the month.
At the beginning of the month, crude oil fell sharply under the negative impact of OPEC+’s decision to increase production in June, with Brent crude oil falling to $58 per barrel at one point. However, due to expectations of US China tariff negotiations and geopolitical factors, crude oil continued to rebound. As of May 16th, the settlement price of the main contract for WTI crude oil futures in the United States was $61.97 per barrel, and the settlement price of the main contract for Brent crude oil futures was $65.41 per barrel.
The rise in crude oil has provided cost support for the rebound of PTA. In addition, in terms of PTA’s own supply, the second quarter is a centralized maintenance period for PTA enterprises, and the current domestic operating rate is around 75%. Recently, there have been plans to restart the equipment, and overall production is expected to increase.
After the easing of tariff risks, the market was boosted by favorable factors, coupled with the boost of the raw material market. Some downstream manufacturers are concerned about future cost increases, so they have concentrated on stocking raw materials, and the atmosphere of replenishment has heated up. The production enthusiasm of terminal weaving manufacturers in Jiangsu and Zhejiang has increased to 57% compared to the previous period, with some domestic and foreign trade orders showing an increase and some orders showing a warming trend in delivery.
Business analysts believe that there is an expectation for the restart of PTA maintenance equipment in the early stage, with a slight increase in domestic supply. In addition, there are many unstable external factors, and the sustainability of downstream procurement enthusiasm needs to be observed. It is expected that PTA prices will fluctuate at a high level in the short term.

Analysis: This week (5.12-16), the liquid ammonia market in Shandong was sluggish, with prices fluctuating and falling. According to the Commodity Market Analysis System of Shengyi Society, the main production area of Shandong experienced a weekly decline of 3.17%. The main reason is the prominent supply contradiction and excessive market inventory. Recently, with the resumption of maintenance equipment, the supply side has shown loose performance. Coupled with the increase in urea to ammonia conversion by manufacturers, the supply has significantly increased, and the rise in ammonia volume has dragged down ammonia prices. Starting from Tuesday, companies began to gradually reduce prices, which continued until Friday. Mainstream large factories in Shandong generally lowered their prices by a range of 200 yuan/ton. Distributors mainly underreport shipments. And downstream procurement enthusiasm is not high, agricultural demand is still in the off-season, industrial demand remains rigid, and the overall demand side is bearish. At present, the mainstream quotation in Shandong region is between 2200-2350 yuan/ton.
Prediction: In the recent off-season of the agricultural demand market, industrial demand has followed suit, and the supply is sufficient. However, the supply pressure may partially ease in the later stage. On the one hand, as prices hover at low levels or supply is tightened in the main production areas of the north, there will be an increase in enterprise inspections and price hikes. From the demand side perspective, downstream procurement may continue to be sluggish, maintaining reasonable procurement demand. There is limited room for order growth in the later stage, and industrial demand urgently needs to be followed up. Taking all factors into consideration, the downward trend of liquid ammonia may slow down next week, gradually stopping the decline, and the price range will mainly fluctuate.

1、 Price trend
According to data monitored by Business Society, as of May 15th, the average price quoted by domestic high-quality DMF enterprises was 4220 yuan/ton. Currently, the DMF market is mainly stable, with insufficient demand and insufficient upward momentum.
2、 Market analysis
Demand side: Currently, downstream demand for DMF is weak, shipments are slow, and rigid procurement is the main focus. Inventory pressure still exists, and the overall market supply and demand are balanced, with limited upward space.
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, DMF prices will continue to operate steadily, with stability being the main focus.