The butadiene rubber market in June fluctuated within a range. According to the commodity market analysis system of Shengyi Society, as of June 29th, the butadiene rubber market price in East China was 11800 yuan/ton, a decrease of 0.92% from 11910 yuan/ton at the beginning of the month. The highest point during the cycle was 12040 yuan/ton, and the lowest point was 11600 yuan/ton. The price of raw material butadiene has significantly decreased, and the cost center of butadiene rubber has shifted downwards; The production of butadiene rubber has fluctuated slightly, and the pressure on the supply side still exists; The downstream tires start to rise first and then fall, mainly supporting the rigid demand of butadiene rubber. As of June 29th, the mainstream prices for Qilu, Daqing, Sichuan, and Yangtze Shunding in East China were 11750-12100 yuan/ton.

The price of butadiene dropped significantly in June, and the cost support for butadiene rubber weakened significantly. According to the Commodity Market Analysis System of Shengyi Society, as of June 29th, the price of butadiene was 9066 yuan/ton, a decrease of 6.85% from 9733 yuan/ton at the beginning of the month.
In June, there was a slight fluctuation in the domestic butadiene rubber plant. As of the end of June, the domestic butadiene rubber production rate was around 6.85%, and supply pressure still exists.
Demand side: In early June, the downstream tire construction started at a low level during the Loong Boat Festival holiday. After the festival, the tire construction started significantly. In the middle and late days, the tire construction started again slightly lower. On the whole, the downstream tire industry maintained a strong demand for cis-1,4-polybutadiene rubber in June. As of June 27th, the production of semi steel tires by domestic tire companies has slightly decreased to around 7.10%; Around 6.20% of all steel tire production in Shandong tire enterprises has started.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the raw material butadiene market will significantly decline, and the cost support for butadiene rubber will weaken; Downstream demand for butadiene rubber is strongly supported, and there is still pressure on the supply side of butadiene rubber. Overall, it is expected that the butadiene rubber market will consolidate weakly in the later stage.

Last week, the asphalt market rose overall due to the impact of crude oil. According to monitoring data from Shengyi Society, on June 16th, the ex factory price of Jingbo Heavy Duty Asphalt # 70 in Shandong was 3710 yuan/ton, and on June 22nd, the ex factory price in Shandong was 3745 yuan/ton.

The escalation of the Iran Israel conflict has resulted in lower than expected actual crude oil production increase for OPEC+in May, and currently crude oil is in the peak consumption season. International oil prices have risen sharply, and due to cost support factors, asphalt prices have rapidly increased.
In terms of refineries, crude oil prices have risen, while asphalt prices have risen due to cost support. However, due to limited demand, the transmission of asphalt prices has decreased, and many factories have suspended quotations today.
From the perspective of Shengyi Society, the main factor driving the upward trend of asphalt prices is still the fluctuation of crude oil prices. With the support of costs, short-term asphalt prices continue to operate strongly. However, there is currently significant supply pressure, relatively weak demand, and limited acceptance of high prices, putting upward pressure on the asphalt market

The market price of anhydrous hydrogen fluoride remained stable this week. The mainstream ex factory price including tax is about 10700-10850 yuan/ton, a decrease of about 650 yuan/ton from last month. The price of raw material fluorite has declined, and the demand for downstream refrigerants is average. The focus of negotiations in the anhydrous hydrogen fluoride market is gradually shifting downwards, and it is expected that the market will mainly operate steadily and weakly in the later stage. According to the analysis system of Shengyi Society, as of June 20th, the benchmark price of hydrofluoric acid in Shengyi Society was 11133.33 yuan/ton, a decrease of -6.31% from the beginning of this month.

On the raw material side, domestic fluorite prices have fallen this week, sulfuric acid prices have risen, and the overall support for the cost side of the anhydrous hydrogen fluoride market is weak. According to the analysis system of Shengyi Society, as of June 19th, the benchmark price of Shengyi Society’s fluorite was 3268.75 yuan/ton, a decrease of 6.44% compared to the beginning of this month (3493.75 yuan/ton).
Demand side: The downstream refrigerant terminal demand is generally average, and upstream products are mainly purchased on demand. Traders tend to adopt a wait-and-see attitude, and the market still has a mentality of buying and lowering prices.
Market forecast: The price of raw material fluorite will decline, and the demand for downstream refrigerants will be average. It is expected that the market for anhydrous hydrogen fluoride will remain stable and weak in the later stage, and more attention should be paid to the news of leading enterprises and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, as of the 13th, the price of ethyl acetate was 5456.67 yuan/ton, an increase of 40 yuan/ton or 0.74% compared to the price of 5416.67 yuan/ton on June 6th. There is no pressure on the supplier’s spot goods, and the enterprise’s mentality is quite high. The downstream is following up on demand, and the market transaction is still acceptable. The quotation for ethyl acetate is consolidating upwards.

The utilization rate of domestic ethyl acetate production capacity is not high, and the inventory pressure of enterprises is not significant. The main reason is that the quotation is firm. At the same time, there are many orders in the export market, and the supply of market goods is tight. The news is positive, and the quotation for ethyl acetate has been adjusted upwards; On the cost side, the weak downward trend of raw material acetic acid and the increase in profit of ethyl ester have a negative impact on the downstream purchasing sentiment of ethyl ester; In terms of demand, downstream entry into the market will follow up on demand, which will definitely suppress the significant increase in ethyl ester prices.
In the future, the operating rate of the ethyl acetate market is not high, and the support of the supply market is good. However, the enthusiasm of downstream market entry is not high, and the pressure on ethyl ester enterprises to ship may increase. At the same time, the raw material market is weak, and the cost is bearish. It is expected that the price of ethyl acetate will be weakly adjusted in the later stage, and specific attention will be paid to changes in the supply side equipment and downstream follow-up.

This week, the phthalic anhydride market rebounded and rose

According to the Commodity Market Analysis System of Shengyi Society, as of June 13th, the price of phthalic anhydride from neighboring countries was 6916.67 yuan/ton, which rebounded and increased by 0.97% compared to the price of phthalic anhydride of 6850 yuan/ton on June 6th; The price of phthalic anhydride fluctuated and fell by 0.48% from 6950 yuan/ton on June 1st. This week, the price of phthalic anhydride remained stable, while the price of industrial naphthalene fluctuated and rose. The cost support for phthalic anhydride increased, and the operating rate of phthalic anhydride enterprises decreased to 6.50%. The supply of phthalic anhydride decreased, and the downstream plasticizer market rose. The demand support for phthalic anhydride still exists. Supply reduction and demand support have led to a rebound in phthalic anhydride prices.
The cost of phthalic anhydride has increased, and the supply has decreased
This week, the price of ortho benzene is temporarily stable. Sinopec’s ortho benzene quotation is 6900 yuan/ton, and the price is temporarily stable. Industrial naphthalene prices have fluctuated and risen, while phthalic anhydride costs have increased. This week, there has been an increase in maintenance of phthalic anhydride equipment, resulting in a decrease in the operating rate of enterprises. The operating rate of the domestic phthalic anhydride industry has dropped to around 6.5%, and the expected supply of phthalic anhydride has decreased. Due to rising costs and reduced supply, the price of phthalic anhydride has increased this week.
Demand side: The DOP market has stopped falling and rebounded
According to the Commodity Market Analysis System of Shengyi Society, as of June 13th, the DOP price was 8250.83 yuan/ton, which rebounded and increased by 0.10% compared to the June 11th DOP price of 8242.50 yuan/ton; Compared to June 6th, the DOP price of 8267.50 yuan/ton first fell and then rose, with a decrease of 0.20%. This week, DOP prices rebounded and rose, plasticizer companies maintained stable operating loads, demand for phthalic anhydride rebounded, and phthalic anhydride price support increased.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the price of raw material ortho benzene is temporarily stable, while the price of industrial naphthalene is rising, resulting in an increase in phthalic anhydride costs; In terms of demand, the plasticizer market is rising, and the demand for phthalic anhydride is supported by increased demand; On the supply side, the production of phthalic anhydride enterprises has decreased, and the expected supply of phthalic anhydride has decreased. Overall, the decrease in supply and the rebound in demand supported by costs have led to a rebound in phthalic anhydride prices.

1、 Price trend

Taking the sulfuric acid method gold red stone 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 has decreased this week. The average price of titanium dioxide at the beginning of the week was 15080 yuan/ton, and the average price of titanium dioxide over the weekend was 14220 yuan/ton, with a price reduction of 5.7%.
2、 Market analysis
This week, the domestic titanium dioxide market prices have been lowered. International market exports remain weak, and coupled with entering the off-season, market pessimism remains strong. The domestic market is sluggish, with insufficient trading atmosphere in the market. Downstream factories and traders have weak enthusiasm for purchasing goods, and titanium dioxide manufacturers face significant shipping pressure, causing the market center of gravity to shift downward. The upstream titanium concentrate market is stable, but sulfuric acid prices have increased. Due to inventory and cost pressures, on-site enterprises are operating at a low pace, and the overall market is in a wait-and-see atmosphere. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 13500-14600 yuan/ton; Sharp titanium type costs around 12500-13000 yuan/ton; The actual transaction price is negotiable.
In terms of titanium concentrate, the price of titanium concentrate has remained stable this week. At present, downstream demand for titanium dioxide is poor, with light new orders and cautious procurement of raw materials. The main focus is on observing and observing, with mining companies facing significant shipping pressure and overall market prices remaining weak and stable. 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 the titanium ore market price will continue to remain stagnant in the short term.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market price will decrease this week. Downstream market demand is weak, and there is a strong wait-and-see sentiment in the market. Transactions are light, and actual orders are cautious. It is expected that in the short term, the market situation of titanium dioxide will be mainly wait-and-see, and the actual transaction price will be subject to negotiation.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of soda ash fell in May. The average market price of light soda ash at the beginning of the month was 1408 yuan/ton, and the average market price at the end of the month was around 1386 yuan/ton. The price decreased by 22 yuan/ton during the month, with an overall decline of 1.56%.
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the soda ash market has been running weakly this month. During the month, there were many soda ash maintenance companies, resulting in a decrease in production capacity utilization rate. In some regions, quotations remained strong, while downstream demand was weak. Due to limited soda ash procurement and high soda ash inventory, shipments in East and Central China were poor, and soda ash prices continued to operate weakly.
As of May 30, 2025, the mainstream market price of light soda ash in East China is around 1280-1450 yuan/ton, with a monthly decrease of 20-50 yuan/ton; The mainstream market price of light soda ash in Central China is around 1250-1400 yuan/ton, which will be reduced by 20 yuan/ton within the month; The mainstream market price of light soda ash in North China is around 1350-1500 yuan/ton, and the price remains unchanged within the month.
On the demand side: According to the commodity analysis system of Shengyi Society, the price trend of glass has continued to decline this month. The average market price of glass at the beginning of the month was 15.58 yuan/square meter, and the average market price at the end of the month was 14.38 yuan/square meter, a decrease of 7.70%. During the month, there was sufficient spot supply in the glass market, but downstream demand for entry into the market was weak, resulting in poor market trading and limited destocking of glass, leading to a weak downward trend in prices.
Market forecast: According to the commodity analysis system of Shengyi Society, the price of soda ash is currently running weakly and steadily. Although there are still maintenance plans for soda ash plants in June, some enterprises will resume operation of maintenance plants in the later stage. The market operating rate is expected to rise, and sales pressure still exists. Downstream consumption inventory is slowing down, and there is insufficient demand for soda ash. It is expected that soda ash prices will continue to operate weakly in the later stage, depending on downstream market demand.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of May 30th, the reference average price of domestic urea market was 1892 yuan/ton, which is 0.91% higher than the reference average price of 1875 yuan/ton on May 1st.
2、 Market analysis
Supply and demand situation
This month, the domestic urea market price first rose and then fell. In the first half of this month, the domestic urea market showed a positive trend. The urea market has smooth shipments, good market trading, and stable prices. In the second half of this month, the domestic urea market is mainly experiencing a downward trend. The urea market has sufficient supply, but inventory remains high. The demand for urea in the market is insufficient, and downstream purchasing intentions have weakened, waiting for industrial and agricultural demand to follow up.
market conditions
As of May 30th, the urea market prices in Shandong are around 1840-1920 yuan/ton, Hebei is around 1830-1940 yuan/ton, Henan is around 1820-1910 yuan/ton, and Liaoning is around 1930 yuan/ton.
According to the weekly K-bar chart from March 3, 2024 to May 19, 2025, it can be seen that the domestic ammonium sulfate cycle is fluctuating. The largest increase in domestic urea in May was 2.49% in the week of May 5th, and the largest decrease was 1.27% in the week of May 19th.
3、 Future forecast
Business Society’s urea analyst believes that the urea market has been fluctuating and consolidating recently. At present, the urea market is active in trading, with downstream demand following suit, but inventory pressure remains, coupled with poor futures market conditions. It is expected that in the short term, the domestic urea market price will be weak and mainly operated through consolidation.

According to the Commodity Market Analysis System of Shengyi Society, the overall trend of polyester filament prices in May was initially upward and then stable, with a strong tendency towards stability. As of May 30th, the mainstream polyester filament factories in Jiangsu and Zhejiang Province quoted POY (150D/48F) at 6950-7200 yuan/ton, polyester DTY (150D/48F low elasticity) at 8050-8400 yuan/ton, and polyester FDY (150D/96F) at 7350-7450 yuan/ton.

price trend
In the first ten days, the price of polyester filament showed a stable, moderate, and slight upward trend. From May 6th to 9th, driven by the rise in international oil prices and polyester raw material costs, some companies raised their quotations by 50-100 yuan/ton.
In the middle of the month, stimulated by the temporary suspension of tariffs between China and the United States (the US cancelled 91% tariffs and suspended 24% tariffs for 90 days), the daily production and sales rate of polyester filament soared to 475.5% (some companies reached 1200%), and the daily increase of FDY, POY and other varieties reached 150-250 yuan/ton, causing a sharp rise in prices.
In late May, due to downstream inventory digestion and procurement returning to essential needs, the production and sales rate dropped to 30-50% from May 23rd to 28th. After a month end promotion, it briefly rebounded to 180%, but overall trading was light, and filament prices remained stable with a slightly strong trend.
Analysis of Core Influencing Factors
1. Cost side:
Crude oil price support: the Russia-Ukraine conflict and summer travel demand pushed up the international oil price (WTI exceeded 61 dollars/barrel), driving the cost repair of the polyester industry chain, and the polymerization cost remained above 5000 yuan/ton.
Poor transmission of PTA/MEG: After the release of domestic PX production capacity, prices stabilized, but weak downstream demand made it difficult for PTA price increases to be fully transmitted to polyester filament, squeezing the profitability of enterprises (POY cash flow continued to suffer losses).
2. Supply and demand pattern
Supply contraction: The three major companies actively reduced production of loss making varieties, coupled with the maintenance of Zhejiang Petrochemical and Shenghong Refining and Chemical facilities, resulting in a decrease in supply to support prices.
Weak domestic demand: May is the traditional off-season, and weaving enterprises mainly focus on essential needs due to a profit of only 0.01 yuan/meter from raw fabric and early stockpiling.
Export rebound: The 90 day suspension of tariffs between China and the United States stimulates the release of backlog orders, while Southeast Asia (Vietnam, Pakistan orders increase by 22-38%) and emerging markets (opening of Qiankai Port in Peru) partially offset the decline in the Indian market (BIS certification leads to a 76.85% decrease in exports).
3. Policy and International Trade
Domestic policy easing: The central bank’s reserve requirement ratio and interest rate cuts have increased liquidity, and the expected retail growth rate of consumer goods is 5.5%. The potential for domestic demand is yet to be released.
Repeated trade frictions: The United States retains a 10% tariff and Pakistan’s anti-dumping investigation poses long-term pressure, but the decrease in shipping costs (with a 22% reduction in Egyptian shipping costs) has eased some export costs.

Future prospects
Business analysts believe that. In the short term, the price may maintain a narrow range of shocks. The turnover is expected to decline around the Loong Boat Festival, and de stocking is still the main theme. Weak demand and high inventory suppress the general growth space. In the medium to long term, the increase in industry capacity concentration, coupled with the widening supply-demand gap from 2025 to 2026, may lead to an upward trend in prices, reaching 88-18.9 million tons. Focus on crude oil fluctuations, PX overcapacity, and the sustainability of terminal orders in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market was 1076 yuan/ton on May 29th, and 1026 yuan/ton on May 1st. This month, the market price of ammonium sulfate has dropped by 4.64%.
2、 Market analysis
The market price of ammonium sulfate has weakened and fallen this month. The operating rate of coke enterprises has not fluctuated much this month, and the operating rate of domestic enterprises has been slightly adjusted. In the first half of this month, the domestic price of ammonium sulfate mainly declined. The demand for ammonium sulfate in the market is not good, and particle manufacturers and downstream compound fertilizer enterprises are mainly in urgent need of replenishment. The number of market inquiries has decreased, and caution is mainly observed. In the second half of this month, the domestic price of ammonium sulfate continued to decline. The downward trend in urea prices is bearish on the ammonium sulfate market, and the export market for ammonium sulfate remains weak. As of May 29th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 940 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1000-1040 yuan/ton.
According to the weekly K-bar chart from March 3, 2025 to May 19, 2025, it can be seen that the domestic ammonium sulfate cycle is fluctuating. The domestic price of ammonium sulfate fell significantly in May, with the largest drop being 1.19% in the week of May 19th.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the domestic price of ammonium sulfate has been weakly stable in recent days. At present, the demand for ammonium sulfate in the market is limited, and transactions are weak. Downstream procurement is mainly based on demand. In the absence of favorable conditions in the near future, it is expected that the domestic ammonium sulfate market prices will weaken and consolidate in the short term.