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.

On May 14th, the market price of epichlorohydrin increased. According to the monitoring and analysis system of Shengyi Society, as of May 14th, the benchmark price of Shengyi Society’s epichlorohydrin was 9100 yuan/ton, an increase of 1.11% compared to early May.
Price influencing factors:
Raw material side: Recently, the raw material propylene market has rebounded, providing sufficient support for the epichlorohydrin market. According to the market analysis system of Shengyi Society, as of May 13th, the benchmark price of propylene in Shengyi Society was 6688.25 yuan/ton, an increase of 1.79% compared to the beginning of this month (6570.75 yuan/ton).
Device situation: Some devices are operating with increased load. In addition, some devices are parked for a long time. At present, the overall operating rate of the industry is 50-60%. Overall, the supply of epichlorohydrin in the market is tight, and prices are showing an upward trend.
Downstream demand side: The downstream epoxy resin market supply remains normal, with a capacity utilization rate of over 50%. But the terminal demand is weak, trading is not smooth, and the main focus is on purchasing for essential needs. Overall, downstream demand is average, and the market has a strong wait-and-see attitude.
Market forecast: Analysts from Shengyi Society believe that the raw material propylene market price will rise, and the supply of epoxy chloropropane in the market will be tight. However, downstream demand is weak, and the purchasing mentality is not positive. It is expected that the epoxy chloropropane market will maintain a stable to strong trend in the short term, 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, the price of lithium carbonate has been falling again and again recently. As of May 13th, the benchmark price of domestic battery grade lithium carbonate was 65633 yuan/ton, a decrease of 4.79% from 68933 yuan/ton at the beginning of the month, a decrease of 16.71% from 78800 yuan/ton at the beginning of the month, and a decrease of 43.52% from the same period last year; The benchmark price of domestic industrial grade lithium carbonate is 64900 yuan/ton, a decrease of 4.42% from 67900 yuan/ton at the beginning of the month, a decrease of 15% from 76400 yuan/ton at the beginning of the month, and a decrease of 40.57% from the same period last year.
supply end
The production of lithium carbonate has slightly increased recently, and companies have maintained high power output. Some companies that stopped production for maintenance in April are expected to resume production in May. As the weather warms up, the production of salt lakes is expected to increase, and the pressure on the supply side is expected to continue to expand.
demand side
Downstream pre holiday restocking is sufficient, but post holiday demand is sluggish, with more on-demand restocking and no explosive demand growth in the short term. The combined price drop has caused some lithium salt factories to experience absorption sentiment, and it is expected that lithium carbonate prices will be under significant pressure in the short term.
Cost end
The price of lithium ore continues to be low, with the CIF price of Australian ore dropping from $850/ton at the beginning of the year to $786/ton, and the price of African ore dropping to $757/ton. The negative cost side has driven down the price of lithium carbonate.
The data analyst of Shengyi Society believes that under the influence of various negative factors, lithium carbonate is prone to decline but difficult to rise, and specific changes in market information still need to be monitored.

According to the market analysis system of Shengyi Society, the price of formic acid has continued to decline recently. As of May 12th, the benchmark price of 85% industrial grade formic acid in China was 2800 yuan/ton, a decrease of 11.58% from 3166 yuan/ton at the beginning of the month and a decrease of 5.08% from 2950 yuan/ton at the beginning of the year, which is the lowest level of the year.
During the May Day holiday, shipments were obstructed
During the May Day holiday, enterprise shipments were hindered, downstream purchases were limited, inventory accumulated, and manufacturers and distributors had a strong desire to clear inventory after the holiday, resulting in a decline in prices.
Tariff policies lead to downstream wait-and-see
Although China’s formic acid exports are mainly from Southeast Asia, the tariff adjustment this time has affected downstream shipments, and the downstream wait-and-see atmosphere is dominant. There is currently no large demand for stocking up.
The formic acid data analyst from Shengyi Society believes that the current formic acid inventory and downstream purchasing intention are weak, and it is expected that formic acid will continue to operate weakly in the short term. Specific market changes need to be monitored.

This week, the price of polyester bottle flakes (PET) showed a trend of first stabilizing and then slightly rebounding. From May 7th to May 9th, with the boost of raw materials, the price of PET bottle flakes rose. As of May 9th, the average sales price of PET (PET bottle flakes) was 5865 yuan/ton.
On the cost side, the main raw materials for polyester bottle flakes are PTA and ethylene glycol, and their prices are greatly affected by crude oil. From May 1st to May 6th, the decline in crude oil prices dragged down raw material prices, leading to a decrease in quotes from polyester bottle factories and a shift in market focus. From May 7th to May 9th, raw material prices increased, and the cost support for polyester bottle chips strengthened, leading to a corresponding rise in market prices.
On the supply side, multiple sets of bottle maintenance devices were restarted in mid to late April, resulting in an increase in bottle production and supply. However, the concentrated downstream procurement of bottle chips in the early stage led to a decrease in inventory in bottle chip factories, which to some extent alleviated the supply pressure.
On the demand side, the processing fees for bottle chips have been continuously compressed recently, resulting in a low valuation of bottle chips. The supply-demand contradiction is not significant, and prices mainly follow the trend of the raw material side. As temperatures rise, the peak season for soft drink consumption is approaching, and downstream beverage factories usually stock up 2-3 months in advance. The demand for polyester bottle chips is expected to increase in the second quarter, which will provide some support for prices.
In response to the current market situation, Shengyi Society believes that the PET market for polyester bottle chips still has support in the short term, but downstream follow-up is not as expected. In the short term, PET market prices may fluctuate and adjust, and the PET market will mainly fluctuate with the raw material side. The actual trend still needs to pay attention to the follow-up equipment, demand situation, and cost support under the traction of crude oil.