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Poor demand, ammonium sulfate market price drops in May

1、 Price trend

Chitosan oligosaccharide

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.

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On May 28th, the price of acetic acid remained stable

According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid remained stable on May 28th, with a market average price of 2720 yuan/ton, unchanged from yesterday’s price and an increase of 0.74% compared to the beginning of the month. The domestic acetic acid market is running steadily, and market prices in various regions remain unchanged. The acetic acid plant on the supply side is running smoothly, with low capacity utilization. Downstream market entry is mainly based on demand, and enterprise shipments are still acceptable. The market mentality is wait-and-see, and the price of acetic acid is stabilizing.

Sodium Molybdate

The price of upstream raw material methanol continues to decline. On May 28th, the average price in the domestic market was 2246.25 yuan/ton, a decrease of 0.33% compared to yesterday’s price of 2253.75 yuan/ton. The methanol market has sufficient supply, but the mentality of industry players is poor. At the same time, there is an expectation of incremental growth in the market, which suppresses prices. Downstream demand is limited, and the methanol market is weakly consolidating and operating.
Market forecast: According to the acetic acid analyst from Shengyi Society, domestic acetic acid companies have no inventory pressure and will maintain active shipment as the main trend. Downstream demand is limited, and on-site trading will follow up as needed. The market supply and demand game is expected, and the acetic acid market is expected to operate steadily and wait. The market will pay attention to downstream follow-up in the future.

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Insufficient demand support, phthalic anhydride market fluctuated and fell this week

This week, the phthalic anhydride market fluctuated and fell

Sodium Molybdate

According to the Commodity Market Analysis System of Shengyi Society, as of May 24th, the price of phthalic anhydride in neighboring countries was 7033.33 yuan/ton, a fluctuating decrease of 0.47% compared to the price of 7066.67 yuan/ton on April 16th. This week, the equipment production of phthalic anhydride enterprises has been stable, and the supply of phthalic anhydride is sufficient; Downstream demand for plasticizers is weak, and the price of phthalic anhydride is fluctuating and falling.
Supply side: resuming work and ensuring sufficient supply
The phthalic anhydride plant has started operating steadily, and the domestic phthalic anhydride industry’s capacity utilization rate has increased. The naphthalene phthalic anhydride industry’s capacity utilization rate has remained stable; The utilization rate of production capacity in the domestic phthalic anhydride industry is slowly recovering, and the supply of phthalic anhydride is sufficient.
Demand side: DOP market experiences slight fluctuations and declines
According to the Commodity Market Analysis System of Shengyi Society, as of May 24th, the DOP price was 8167.50 yuan/ton, a fluctuating decrease of 0.41% compared to the DOP price of 8200.83 yuan/ton on April 16th. The utilization rate of plasticizer DOP enterprises remains stable at a low level, and the production of plasticizer DOP remains stable. However, downstream demand for phthalic anhydride is insufficient, and downward pressure on phthalic anhydride prices still exists.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of supply, phthalic anhydride manufacturers have stable production and sufficient supply of phthalic anhydride; In terms of demand, the operating load of DOP manufacturers is temporarily stable at a low level, and the demand support for phthalic anhydride is weak. In the future, with strong supply and weak demand, it is expected that the price of phthalic anhydride will fluctuate and fall.

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This week, the liquid ammonia market has turned from a decline to an increase

This week (5.19-23), domestic liquid ammonia rose, according to the Commodity Market Analysis System of Shengyi Society, the weekly increase of liquid ammonia in Shandong region was 4.09%. The main reason is that, against the backdrop of stable downstream demand, some equipment maintenance has not yet resumed, and the supply pressure has slightly eased. At present, the mainstream price of liquid ammonia in Shandong region is between 2250-2450 yuan/ton.

Stannous Sulphate

From a supply perspective, this week the supply has remained relatively stable, with some devices still undergoing maintenance and a decrease in supply. In addition, there is not much supply pressure in Hebei, Anhui, and the two lakes regions. From the beginning of the week to the middle of the week, enterprise quotations have been repeatedly raised, with prices stabilizing over the weekend. This week, manufacturers have raised prices by 100-150 yuan/ton. The market shows a basic balance between supply and demand.
From the demand side, there is not much improvement in downstream demand, with the operating rate of compound fertilizers still at a low level, maintaining a strong demand for urea; Recently, exports have been affected by policies, and market transactions have been average. In addition, domestic industrial demand is weak, and agricultural demand is temporarily vacant due to the start of local wheat harvest, resulting in little improvement in demand. Market sentiment is mainly wait-and-see.
Market forecast:
Business analysts believe that the slight increase in liquid ammonia prices this week is mainly due to favorable conditions on the supply side, and there is still no improvement on the demand side. However, with the expected resumption of maintenance facilities in the north next week, supply is under pressure, and there is a risk of a correction in liquid ammonia prices.

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Tariff easing: Isooctanol prices hit bottom and rebounded this week

Isooctanol prices rebounded and rose this week

Bacillus thuringiensis

According to the Commodity Market Analysis System of Shengyi Society, as of May 16th, the price of isooctanol was 7443.33 yuan/ton, which rebounded and increased by 3.62% compared to the price of 7183.33 yuan/ton on May 12th. During the China US economic and trade talks, tariffs have temporarily eased, and demand for isooctanol is expected to rebound, causing the price of isooctanol to bottom out and rebound; Isooctanol manufacturers are operating steadily, with sufficient supply of isooctanol. Stable supply and rising demand have led to fluctuating prices of isooctanol.
Downstream plasticizer DOP prices rebounded and rose this week
According to the Commodity Market Analysis System of Shengyi Society, as of May 16th, the DOP price was 8200.83 yuan/ton, a rebound increase of 4.35% compared to the DOP price of 7859.17 yuan/ton on May 12th. The operating rate of DOP plasticizer enterprises has temporarily stabilized, the China US economic and trade talks have begun, tariffs have temporarily eased, the demand for plasticizers is expected to rise, the production of plasticizers is expected to increase, the demand for isooctanol is expected to rebound, the support for isooctanol demand is increasing, and the upward momentum of isooctanol is increasing.
Future expectations
According to the data analyst of Shengyi Society’s octanol products, the production of plasticizer enterprises has temporarily stabilized, tariffs have eased, demand for plasticizers has rebounded, production of plasticizers is expected to increase, downstream demand for isooctanol has rebounded, supply has stabilized, and demand has rebounded. It is expected that the price of isooctanol will consolidate strongly in the future market.

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In early May, the domestic titanium dioxide market prices were lowered

1、 Price trend

Sodium Molybdate

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 decreased in early May. On May 1st, the average price of titanium dioxide was 15480 yuan/ton, and on May 9th, the average price of titanium dioxide was 15200 yuan/ton, with a price reduction of 1.81%.
2、 Market analysis
In early May, the domestic titanium dioxide market prices were lowered. The upstream titanium concentrate market price has decreased, and the sulfuric acid price is fluctuating at a low level. Downstream market demand is poor, new orders are limited, and the demand side is weak and difficult to change. We should wait and see the market. As of now, the domestic quotation for sulfuric acid method pyrite type titanium dioxide is mostly between 14000-16200 yuan/ton; Sharp titanium type costs around 12700-13000 yuan/ton; The actual transaction price is negotiable.
In terms of titanium concentrate, the price of titanium concentrate has been weak this week. At present, the downstream demand for titanium dioxide is not good, with light new order transactions. Downstream customers are mainly observing and waiting, and miners are under great pressure to ship. The overall market price is still weak. 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 2200-2280 yuan/ton; The price of 38 titanium ore excluding tax is around 1200-1280 yuan/ton. It is expected that the mainstream titanium ore in the Panxi region will operate weakly in the short term.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market price will decrease in early May. Downstream enterprises have a strong wait-and-see attitude, with light market transactions and cautious actual orders. 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.

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The domestic asphalt market first suppressed and then rebounded in April

In April, the asphalt market first suppressed and then rose, with an overall decline. According to monitoring data from Shengyi Society, the ex factory price of heavy-duty asphalt # 70 in Shandong region was 3677 yuan/ton on April 1st, and as of April 30th, the ex factory price in Shandong region was 3645 yuan/ton. On April 10th, it fell to 3423 yuan/ton, with a fluctuation of 6.9% during the month.

Sodium Molybdate

In the first half of the year, crude oil fell sharply, making it difficult for the cost side to support. The Shandong market continued to decline, and the asphalt market fell from a high level due to market competition and shipments. After the cost fell, refineries that reserved low-priced raw materials released an increase in monthly contract volume, and the market continued to bottom out.
In the second half of the year, the supply of asphalt in Shandong region was slightly tight. The demand in Shandong region was strong, and shipments were smooth. In addition, the inventory of manufacturers was low, and the bidding price was raised multiple times. Moreover, the asphalt futures market price continued to rise, and the overall trend was significantly stronger than that of crude oil. With the continuous rise of the asphalt market, mainstream brand prices have reached high levels, and some low-priced goods from the south have entered the northern market, slowing down the market growth.
From the perspective of Shengyi Society, the current asphalt fundamentals have certain support, and the demand side is expected to continue to release in May. From the cost side, it may fluctuate and weaken, and the supply side may be slightly tight during the peak demand season. We can pay attention to the starting prices of major manufacturers, and the asphalt market may show a strong operating trend in May.

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Summary of the trend of pure benzene in April (April 1-29, 2025)

1、 Price trend

Chitosan oligosaccharide

According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene has fluctuated and fallen this month. The market price fell in the first half of the year, fluctuated and rose in the middle, and fell in the second half. On April 1st, the price was 6659.67 yuan/ton; On April 29th, the price was 5785.33 yuan/ton, a decrease of 13.13% from the beginning of the month.
2、 Market analysis
Pure benzene: The maintenance of a styrene plant in Dongying has affected the local refining market in Shandong, resulting in a decrease in market demand and a significant drop in local refining prices. In addition, the port may mainly accumulate inventory after the holiday. Traders in East China have an unstable mentality and are actively shipping, resulting in continuous price declines. According to the organization, downstream demand is insufficient, market performance is weak, and there is pressure on shipments.
This month, the price of pure benzene from Sinopec dropped by 750 yuan/ton to 6000 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On April 28th, international crude oil futures closed lower. The settlement price of the main contract for WTI crude oil futures in the United States was $62.05 per barrel, a decrease of $0.97 or 1.5%. The settlement price of the main Brent crude oil futures contract was $65.86 per barrel, a decrease of $1.01 or 1.5%.
Pure benzene trading: FOB Korea fell $21 to $692/ton, CFR China fell $16 to $715/ton, FOB Rotterdam fell $19 to $650/ton, FOB Gulf rose $6 to 257 cents/gallon.
Overall expectation: In the short term, the market price of pure benzene will continue to fluctuate at a low level, and we will wait and see the news on the cost and demand sides. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.

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The ethanol market experienced narrow fluctuations in April

According to the Commodity Market Analysis System of Shengyi Society, the domestic ethanol market experienced narrow fluctuations in April. From April 1st to 28th, the average price of domestic ethanol producers first rose from 5236 yuan/ton and then fell to 5233 yuan/ton, with a price drop of 0.05% during the period and a maximum amplitude of 0.29%. The price fell by 13.14% year-on-year.

Sodium Molybdate

In the first half of the month, the price of edible ethanol market fluctuated weakly, and the inventory pressure on the supply side of the alcohol market was not significant. With the continuous strong operation of raw material corn prices, the cost loss was obvious. Poor support on the demand side, with rigid demand transactions being the main focus.
In mid month, the main factories shipped their preliminary orders, but the inventory of the enterprise was not high, resulting in significant cost pressure. The enterprise showed a clear willingness to raise prices, and the downstream demand for replenishment before the holiday supported the overall ethanol price to be relatively stable.
At the end of the month, some factories had maintenance plans, resulting in a decrease in supply. Downstream companies stocked up before the holiday, but as stocking approached its end, market transactions weakened and ethanol prices remained stable due to low inventory pressure on enterprises.
On the cost side, in the first half of the month, corn prices remained firm, and traders’ intention to sell at low prices was slightly average, resulting in low market purchasing and sales activity. In mid month, corn prices continued to fluctuate within the range. Traders’ shipments are relatively evenly distributed, while deep processing enterprises maintain a relatively balanced supply and usage of corn. At the end of the month, after an earlier increase, some companies saw an increase in the number of vehicles arriving, resulting in a narrow decrease in corn prices. However, there were also companies that saw a narrow increase in prices, while mainstream prices remained stable. Grassroots purchasing and sales are relatively light, and some traders still sell at high prices.
Supply side, stable operation of supply side. There are unlikely to be major favorable factors in the supply of ethanol.
On the demand side, downstream chemical rigid demand procurement has seen a slight weakening in transactions, with some regions experiencing a decrease in delivery prices and rigid demand transactions. The short-term demand for ethanol has a moderate impact.
Future forecast: Limited supply, partial orders shipped, downstream stocking nearing completion. Business Society’s ethanol analyst predicts that the domestic ethanol market will consolidate and operate in the short term.

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On April 27th, the cyclohexane market remained stable

1、 Price trend

Benzalkonium chloride

According to data monitored by Shengyi Society, as of April 27th, the average price of industrial grade high-quality cyclohexane in China was 7600 yuan/ton. Currently, the cyclohexane market is operating steadily, with transaction prices remaining around 7500 yuan/ton. The market supply of cyclohexane is sufficient, and the overall market supply and demand are balanced. The focus of negotiations is narrow and weak.
2、 Market analysis
Downstream: The downstream cargo flow is generally stable, with limited demand for caprolactam and loose supply. Currently, the overall operating rate is relatively stable. Overall, the caprolactam market is expected to operate steadily in the short term with limited demand.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the upstream support for cyclohexane is insufficient, the upward momentum is weak, and the downstream purchasing atmosphere is average.

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