According to the Commodity Market Analysis System of Shengyi Society, the xylene market will experience a volatile downward trend in September 2025. From September 1st to 29th, the domestic xylene market price fell from 5640 yuan/ton to 5480 yuan/ton, with a cumulative price drop of 2.84% during the period.

In the first half of the week, the toluene market fluctuated weakly, and the weakening of crude oil in the second half of the week dragged down market sentiment, causing market prices to continue to decline. The Shandong region has been dragged down by the crude oil market this week, resulting in an overall decline in prices. Negotiations in the East China region are quiet, and offers are generally low. Affected by loose supply, the enthusiasm for downstream market entry in southern China is weak, and the prices of main refineries have been lowered, resulting in an overall weak market atmosphere..
Late period: The domestic mixed xylene market first rose and then fell in this cycle. Among them, the inventory in Shandong region is low, and the prices of the main refineries have been adjusted slightly. Transactions in the region are more in line with demand. There is little change in inventory in the East China region, and prices have slightly increased. The market trading situation in South China is weak, downstream procurement is weak, and prices have slightly increased. As of the end of the month, with the end of pre holiday stocking and a decline in downstream purchasing intentions, the xylene market continued to decline due to a lack of demand support.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of September 26th, the settlement price of the November WTI crude oil futures contract in the United States was $65.72 per barrel. The settlement price of Brent crude oil futures for the December contract is $69.22 per barrel. During this round of price adjustment cycle, geopolitical factors remain one of the important factors affecting the crude oil market. The resurgence of geopolitical conflicts in the Middle East has triggered a rebound in the international crude oil stage, but OPEC+has decided to continue increasing production in October. In addition, with the increase in US oil inventories, the market still has high expectations of supply surplus pressure, resulting in weak momentum for international oil prices to rise.
Supply side:
Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of September 29th, East China Company quoted 5600 yuan/ton, North China Company quoted 5350-5500 yuan/ton, South China Company quoted 5500-5550 yuan/ton, and Central China Company quoted 5450-5550 yuan/ton.
Demand side:
According to the Commodity Market Analysis System of Shengyi Society, as of September 28, 2025, the price of xylene sold by Sinopec Sales Company has temporarily stabilized, with a current execution price of 6800 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other facilities are operating stably with normal sales, with a price reduction of 400 yuan/ton compared to August 29. As of September 26th, the closing prices of the xylene market in Asia were 789-791 US dollars/ton FOB Korea and 814-816 US dollars/ton CFR China, a decrease of 22 US dollars/ton from August 28th.
Market forecast: In terms of supply, the recent changes are relatively small, and the overall export situation of enterprises is relatively stable. In terms of shipping schedules, the recent arrival situation at ports is still acceptable, and the overall performance of the supply side is relatively stable. As the end of the month approaches, the domestic xylene market is showing a weak trend. With the holiday approaching, the activity of market negotiations has significantly declined, and market trading is relatively quiet. The overall market demand is weak, and there is a lack of significant positive support for supply and demand. It is expected that the xylene market will operate weakly.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has slightly declined this week. As of September 28th, the average market price of n-butane oxidation maleic anhydride remained at 5487.50 yuan/ton, a decrease of 2.44% from 5625.00 yuan/ton on September 22nd.

On the supply side: The overall market for maleic anhydride has fallen this week, and the pre holiday destocking of maleic anhydride factories has limited support for the market; The downstream unsaturated resin of maleic anhydride has limited procurement and poor stocking atmosphere. As of September 28th, 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 4700 yuan/ton.
Upstream: The overall price of n-butane has slightly increased this week, and as of September 28th, the price in Shandong is around 4560 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 currently, many downstream unsaturated resin factories of maleic anhydride have plans to reduce load and shut down, which limits the procurement of maleic anhydride; At present, the main focus of maleic anhydride manufacturers is on destocking, and it is expected that the maleic anhydride market will mainly consolidate at a low level in the near future.

1、 Price trend

According to data monitored by Shengyi Society, as of September 26th, the average price of domestic industrial grade high-quality cyclohexane was 7200 yuan/ton, a decrease of 0.92% compared to the same period last week. Currently, the downstream demand for cyclohexane market is insufficient, and the upstream cost side lacks support. Operators are cautious and watching.
2、 Market analysis
Market wise: Currently, the cyclohexane market is mainly operating steadily, with a small range of price fluctuations. The precipitation method is maintained at around 6000 yuan/ton, and the range of price changes is limited. Currently, the focus of negotiations in the domestic cyclohexane market is stable. The operating equipment is running normally, with sufficient spot supply and downstream essential procurement as the main focus. The purchasing atmosphere is average, and the positive support from the supply side is not obvious. The market mentality is stable, and the operation is cautious. The wait-and-see attitude still exists, and the overall market operation is cautious.
Upstream: The upstream pure benzene market is currently operating steadily, with a slight decline as of September 26th. The trading atmosphere is flat, and cost support is poor. It is expected to maintain the current trend in the short term,.
Downstream: The downstream cyclohexanone market is mainly operating in a narrow and strong range. As of September 26th, the cyclohexanone market in East China has been fluctuating, with stable cost support. The downstream inquiry atmosphere is average, and market prices are fluctuating. The East China market is priced at 7100 yuan/ton, and downstream high prices are cautiously followed up, with cold market high price transactions.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the current atmosphere of cyclohexane market negotiations is bleak, with slow overall market shipments, high inventory levels, and insufficient room for price increases.

This week, the phthalic anhydride market is weak and stabilizing

According to the Commodity Market Analysis System of Shengyi Society, as of September 22, the quoted price of phthalic anhydride was 6293.33 yuan/ton, a slight decrease of 0.11% from the price of 6300 yuan/ton on September 15. The price of ortho benzene is temporarily stable, the price of industrial naphthalene is fluctuating and stabilizing, and the cost support of phthalic anhydride still exists. This week, the load of phthalic anhydride equipment has fallen, the operating rate of phthalic anhydride enterprises has decreased, the supply of phthalic anhydride has decreased, and the downstream plasticizer market is fluctuating and consolidating. The operating load of equipment for plasticizer enterprises has slightly fallen, and the demand support for phthalic anhydride is limited. Due to limited demand support, the price of phthalic anhydride has been weak and stabilizing this week.
The cost of phthalic anhydride is temporarily stable
On September 22nd, Sinopec quoted 6400 yuan/ton for ortho benzene, which remained stable compared to last week. The price of industrial naphthalene is fluctuating and stabilizing, the price of ortho benzene is stabilizing, and the cost of phthalic anhydride is stabilizing. This week, the operating load of phthalic anhydride equipment has slightly decreased, the operating rate of phthalic anhydride enterprises has decreased, and the supply of phthalic anhydride has decreased.
Demand side: Downstream production starts at high levels, consolidation of DOP prices, fluctuation and decline
According to the Commodity Market Analysis System of Shengyi Society, as of September 22, the DOP price was 7450.84 yuan/ton, a fluctuating decrease of 0.78% compared to the DOP price of 7509.16 yuan/ton on September 15. DOP prices have fluctuated and fallen, while DOP companies have seen high levels of consolidation in their operating loads. Demand for phthalic anhydride has temporarily stabilized, with limited support for its upward trend.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies are consolidating at a high level of production, increasing plasticizer output, and the support for phthalic anhydride demand still exists. In terms of cost, the price of ortho benzene is temporarily stable, the price of industrial naphthalene is fluctuating and stabilizing, and the cost of phthalic anhydride is stabilizing. In the future, the cost of phthalic anhydride is stabilizing, and it is expected that the price of phthalic anhydride will consolidate at the bottom.

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 from Shengyi Society, the domestic titanium dioxide market has remained stable this week, with an average price of 13820 yuan/ton.
2、 Market analysis
This week, the domestic titanium dioxide market is mainly undergoing consolidation and operation. At present, the demand for titanium dioxide in the market is average, and the trading atmosphere on the market is relatively light, resulting in low enthusiasm for downstream procurement. The raw material side is still relatively strong, and under cost pressure, enterprise offers remain firm. Tianyuan, Tiehai, and Guocheng have successively sent letters announcing price increases, but most titanium companies are still waiting and observing, and the actual price will take some time to land. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 13200-14200 yuan/ton; The price of the titanium type is around 11700-12500 yuan/ton, and the actual transaction price is negotiable.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market will mainly consolidate this week. Titanium dioxide companies are under cost pressure and have a strong mentality of raising prices. It is expected that the titanium dioxide market will remain cautious in the short term, with prices remaining firm and rising. The actual transaction price is subject to negotiation.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of bromine has been running weakly this week. The average market price at the beginning of the week was 29400 yuan/ton, and the average market price over the weekend was 29360 yuan/ton, a decrease of 0.14% and an increase of 45.35% compared to the same period last year. On September 11th, the Business Society Bromine Index was 103.16, unchanged from yesterday, a decrease of 57.92% from the highest point of 245.18 points (2021-10-27) during the cycle, and an increase of 75.08% 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 is running weakly, with a reference price of 28000-30000 yuan/ton for spot bromine production in Shandong region. Due to weather and policy reasons, bromine companies have tight inventory, while downstream companies have average purchasing enthusiasm. In terms of raw materials, domestic sulfur prices have been declining, with an average market price of 2654.33 yuan/ton at the beginning of the week and 2644.33 yuan/ton at the end of the week, a decrease of 0.38% and an increase of 90.1% compared to the same period last year. Downstream demand is generally average.
Prediction: Bromine prices are expected to be weak in the near future, while upstream sulfur prices are expected to be weak. Bromine prices are expected to remain stagnant this week, while downstream purchases are expected to be made on demand. Overall market activity is average. It is expected that bromine may continue to operate weakly in the later period, depending on downstream market demand.

According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated downward from August 29 to September 5, 2025. On August 29th, the benchmark price of toluene was 5440 yuan/ton, and on September 5th, the benchmark price of toluene was 5360 yuan/ton, a decrease of 1.47%. The toluene market fluctuated weakly in this cycle, and the weakening of crude oil in the second half of the week dragged down market sentiment, causing market prices to continue to decline. The Shandong region has been dragged down by the crude oil market this week, resulting in an overall decline in prices. Negotiations in the East China region are quiet, and offers are generally low. Affected by loose supply, the enthusiasm for downstream market entry in southern China is weak, and the prices of main refineries have been lowered, resulting in an overall weak market atmosphere.
Cost wise: The crude oil market prices in this cycle have mainly fluctuated at low levels. As of the 4th, the settlement price of the October WTI crude oil futures contract in the United States was $63.48 per barrel, and the settlement price of the November Brent crude oil futures contract was $66.99 per barrel. The crude oil market is influenced by both long and short factors. On the one hand, geopolitical factors remain one of the important factors affecting the crude oil market, and the Russia Ukraine issue has led to a strong operation of the crude oil market. On the other hand, Saudi crude oil may increase production, leading to an increase in US crude oil inventories. In addition, with the end of the peak oil season in the US, the global economic outlook and oil demand are not optimistic, putting pressure on crude oil market prices.

Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of September 5th, East China Company quoted 5350 yuan/ton, North China Company quoted 5300 yuan/ton, South China Company quoted 5300-5400 yuan/ton, and Central China Company quoted 5450 yuan/ton.
Demand side:
On September 5th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7200 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. As of September 4th, the closing prices of the para xylene market in Asia were $803-805/ton FOB Korea and $828-830/ton CFR China.
Market forecast: The recent trend of the crude oil market is weak, with limited boost to the spot market and a weak macro outlook. From the perspective of supply and demand, the recent performance has also been weak, with downstream demand being more rigid and lacking demand support. It is expected that the toluene market will continue to operate weakly in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of lithium carbonate has fluctuated sharply recently. As of September 2nd, the benchmark price of battery grade lithium carbonate in Shengyi Society was 77233 yuan/ton, a decrease of 7.76% from last week, an increase of 8.27% month on month, and a decrease of 6.72%; The benchmark price of industrial grade lithium carbonate trading company is 75500 yuan/ton, a decrease of 8.11% compared to last week, an increase of 7.4% month on month, and a year-on-year decrease of 6.09%.

Supply side disturbances become the dominant factor in short-term prices
In early August, Ningde Times’ Jianxiawo mining area in Yichun, Jiangxi (one of the largest lithium mica mines in China) ceased production on August 9th due to the expiration of its mining license, and it will take at least three months to resume production. This news became an important trigger for price rebound. ​
At the same time, the compliance rectification of lithium mines in Yichun area (8 mining enterprises are required to rectify within a time limit), the illegal mining and production stoppage of Zangge Mining, and the reduced production of Jiangte Electric Machinery due to maintenance, as well as the “anti internal competition” policy of the Ministry of Industry and Information Technology to eliminate low-priced and disorderly production capacity, have led to strong expectations of supply contraction in the market, driving prices to rise rapidly. The price of battery grade lithium carbonate once rebounded from 60000/ton to 80000/ton.
But the resumption of production of Yichun Silver Lithium by Jiangte Electric has broken this expectation. As an important enterprise in the field of mica lithium extraction, its resumption of production means that market supply will increase again, leading to a drop in lithium carbonate prices from 80000 yuan/ton to 70000 yuan/ton. The frequent changes on the supply side have led to significant price fluctuations in recent times.
The demand is steadily increasing, but the growth rate is not as fast as the supply
In August, the production of downstream positive electrode factories increased by 4% -5% month on month, and the demand was slightly better than market expectations, with good demand on the energy storage side. In terms of the terminal market, sales of new energy vehicles have maintained impressive performance. However, based on data from recent months, the year-on-year sales growth rate has slightly decreased compared to the previous month.
In August, the monthly total production of lithium carbonate in China reached a new high, breaking through the 85000 ton mark, with a month on month increase of 5% and a significant year-on-year increase of 39%. The current market is still in a stage of structural supply-demand mismatch.
The lithium carbonate data analyst from Shengyi Society believes that the impact of mining shutdowns has not yet been fully transmitted to the supply and demand side. The key point of subsequent price fluctuations lies in whether the relevant mines can successfully complete the reserve verification report on September 30th and the subsequent changes in mineral types. In the short term, lithium carbonate is expected to fluctuate, and specific market changes still need to be monitored.

The price of plasticizer DOP fluctuated and fell in August

According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the DOP price was 7617.50 yuan/ton, a fluctuating decrease of 4.25% compared to the DOP price of 7955.83 yuan/ton on August 1st. The prices of raw materials isooctanol and phthalic anhydride have fluctuated and fallen, and the downward pressure on DOP prices has increased; In August, the operating load of DOP enterprises was consolidated at a high level, resulting in an increase in DOP production and supply; Downstream demand is difficult to improve, and there is a lack of interest in DOP procurement inquiries, resulting in limited improvement in DOP demand transactions. The increase in supply led to a decrease in costs, and the price of plasticizers fluctuated and fell in August.
The price of raw material isooctanol fluctuated and fell in August
According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the price of isooctanol was 7283.33 yuan/ton, a fluctuating decrease of 3.32% compared to the price of 7533.33 yuan/ton on August 1st. In August, the production capacity of isooctanol enterprises increased, and the operating rate of isooctanol equipment increased from less than 80% in July to 95% at the end of August. In addition, with the addition of new production capacity of isooctanol, the supply of isooctanol has increased; Downstream plasticizer companies are operating at a high level of consolidation, and the demand for isooctanol by plasticizers is recovering. As supply increases and demand rebounds, the price of isooctanol fluctuated and fell in August. The cost of plasticizers has decreased, and the downward pressure on DOP has increased.
Raw material phthalic anhydride prices hit bottom and rebounded in August
According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the price of phthalic anhydride in neighboring countries was 6300 yuan/ton, a fluctuating decrease of 5.26% compared to the price of 6650 yuan/ton on August 1st. In August, the price of ortho benzene fluctuated and fell, while the price of industrial naphthalene hit the bottom and rebounded. The cost support of phthalic anhydride was significant. In August, the equipment load of phthalic anhydride stabilized at a low level, and the operating rate of phthalic anhydride enterprises was about 60%. The supply of phthalic anhydride decreased, and the equipment operating load of downstream plasticizer enterprises stabilized at a high level. The demand support for phthalic anhydride still exists. Supply reduction and cost reduction led to a rebound in phthalic anhydride prices in August. The price of raw material phthalic anhydride hit bottom and rebounded, while the cost of plasticizers stopped falling and rebounded. The downward pressure on the price of plasticizer DOP weakened in August.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol has fluctuated and fallen, while the price of phthalic anhydride has bottomed out and rebounded. The downward pressure on the cost of plasticizer DOP still exists; On the supply side, the operating rate of plasticizer enterprises is consolidating at a high level, the production of plasticizers is increasing, and the supply of plasticizers is sufficient; In terms of demand, the overall economy is sluggish, coupled with anti competitive competition and the elimination of outdated production capacity, resulting in weak downstream demand. Overall, with strong supply and weak demand, coupled with the pressure of cost decline, it is expected that the price of plasticizer DOP will fluctuate and fall in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the average quotation price of domestic high-quality DMF enterprises was 4110 yuan/ton, a decrease of 0.24% compared to the same period last month. Currently, DMF manufacturers are mainly operating steadily, with a narrow and weak trend. The DMF market is currently operating narrowly and weakly, with a stable focus on negotiations and a general purchasing atmosphere.
2、 Cause analysis
In terms of the market, the DMF market as a whole operated weakly in August, with a narrow downward trend in prices and insufficient driving force for price increases. Currently, the DMF market is mainly operating steadily.
Upstream: The price of methanol in the upstream market has remained stable with small fluctuations. As of August 29th, the price of methanol in Sinopec Great Wall has been reported as 1950 yuan/ton, and the 600000 ton/year methanol plant is currently operating at full capacity. Qinghai Zhonghao Methanol has no quotation at the moment. The 600000 ton/year natural gas to methanol plant has been shut down since October 23, 2024, and the restart time is uncertain. The ex factory price of methanol in Jining is based on the reference of 2260-2260 yuan/ton in cash withdrawal from the factory, and the price for Linyi delivery is based on 2320 yuan/ton. The 250000 ton/year coke oven gas to methanol plant in Shanxi Junjie (Jinhui) is stable
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, the DMF market will mainly maintain stable prices, with insufficient support from the upstream cost side and downstream replenishment based on demand. The overall market operation is cautious.