According to the Commodity Market Analysis System of Shengyi Society, from June 9th to 13th, MTBE prices fell from 5007 yuan/ton to 5252 yuan/ton, with a price increase of 4.89% during the period, a month on month increase of 3.91%, and a year-on-year decrease of 18.25%. The domestic MTBE market is experiencing a volatile upward trend, mainly boosted by the strengthening of international crude oil prices, especially the significant jump in oil prices on the last trading day, injecting strong positive news into the market. From the perspective of supply and demand, as manufacturers continue to operate, the supply of market resources has increased. However, at the same time, the active signing of export orders has effectively eased supply pressure, keeping manufacturers’ inventory at a controllable level and driving market prices to remain firm.
On the cost side, in terms of crude oil: International oil prices have significantly risen, mainly due to positive developments in the new round of economic and trade talks between China and the United States. The decline in US commercial crude oil inventories has exceeded expectations, coupled with uncertainties in US Iran relations, providing support for oil prices. As of June 12th, the settlement price of Brent crude oil futures for the August contract was $69.06 per barrel.
On the demand side, in terms of gasoline terminal demand, the expectation of a new round of retail price limits has been raised, which has a certain positive effect on the gasoline market. The MTBE demand side is influenced by favorable factors.
Supply side: The operating rate of the equipment has increased. Short term domestic MTBE supply is affected by bearish factors.
As of the close on June 12th, the closing price of the Asian MTBE market has increased by $14.2 per ton compared to the previous trading day, with FOB Singapore closing at $700.95-702.95 per ton. The closing price of the European MTBE market increased by $6.25/ton compared to the previous trading day, and FOB ARA closed at $763.74-764.24/ton. The closing price of the MTBE market in the United States decreased by $8.47/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $695.18-695.54/ton (196.29-196.39 cents/gallon).
The future forecast shows that the current raw material prices are high, and cost pressure still exists. Many manufacturers have resumed work one after another, and the supply side is expected to be relatively abundant. There are still many manufacturers waiting to deliver export orders in the near future, which provides some favorable support. The MTBE analyst from Shengyi Society believes that the domestic MTBE market is mainly volatile.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of June 11th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6760 yuan/ton, which is 0.45% higher than the reference average price of 6730 yuan/ton on June 1st.
2、 Market analysis
Market Aspects
In early June, the domestic phosphoric acid market price first suppressed and then rose. As of June 11th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6500-7000 yuan/ton, in Yunnan region it is around 6600 yuan/ton, and in Sichuan region it is around 6300-6800 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6600-7300 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. In early June, the market price of yellow phosphorus first fell and then rose. At the beginning of the month, the supply of yellow phosphorus in the market was sufficient, and bearish sentiment dominated the market, resulting in a weak decline in yellow phosphorus prices. With the increasing demand for downstream replenishment, yellow phosphorus manufacturers are mainly raising prices, and the transaction price of yellow phosphorus in the market has increased.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been consolidating and operating recently. The price of raw material yellow phosphorus has increased, leading to an increase in cost support. The demand for phosphoric acid market is still weak, and market transactions are limited. It is expected that in the short term, the domestic phosphoric acid market prices will remain on a wait-and-see basis, and prices may rise slightly with the increase of raw materials.

The price of ethylene glycol has slightly fallen
Ethylene glycol prices have loosened this week. According to data from Shengyi Society, as of June 6th, the average price of domestic oil to ethylene glycol was 4498.33 yuan/ton, a decrease of 0.52% from the average price of 4521.67 yuan/ton on June 1st.
In terms of imported ethylene glycol, the focus of the spot contract for ethylene glycol at the port will shift downwards on June 6, 2025, with a trading range of 4375-4440 yuan/ton and a weak stable basis. The basis range for the spot contract next week will be 117-130 yuan/ton. The daily operating range of next week’s spot contract in the morning session is+125 to+130; After the closing, the contract basis quotation for next week will be+118 to+120, the contract basis quotation for June will be+118 to+120, and the contract basis quotation for July will be+100 to+105.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4000-4120 yuan/ton.
In terms of external ethylene glycol, as of June 2nd, the landed price of ethylene glycol in China is $524/ton, and the landed price of ethylene glycol in Southeast Asia is $530/ton.
The inventory of ports in May has significantly decreased, and there has been a slight rebound this week
From January to mid February, there was a significant accumulation of ethylene glycol inventory in the port, and from March to April, the port inventory fluctuated horizontally. In May 2025, there was a significant destocking of ethylene glycol at the main port in East China, and this week there was a slight increase in ethylene glycol port inventory. As of June 5th, the total inventory of ethylene glycol in the East China main port was 590800 tons, an increase of 30500 tons compared to the total inventory of 560300 tons on June 3rd, and a decrease of 110100 tons compared to the total inventory of 700900 tons on April 28th; Compared to the total inventory of 697800 tons on April 3rd, a decrease of 107000 tons; Compared to the total inventory of 671900 tons on March 31st, it decreased by 81100 tons.
Fundamental Overview
Affected by the news of blocked US ethane exports this week, the ethylene glycol market has risen, but the overall upward sentiment in the market is average. From the perspective of supply and demand, domestic equipment maintenance and restart are carried out in parallel, and the operating rate remains around 60% in the short term. Social inventory is expected to continue its destocking trend. The polyester load is currently around 91%, and the expectation of weak terminal demand remains unchanged, suppressing the upward trend of ethylene glycol prices.
Recent device changes expected: There are plans to restart 1-2 # in Yongcheng, Henan and Zhongsha, Tianjin over the weekend. We will pay attention to the progress of the restart of a major device in Northeast China in mid June.
Future expectations
After the recent cancellation and outflow of warehouse receipts, the circulating spot goods in the market have eased the shortage of spot goods. Recently, the market mainly focuses on the weak expectations of downstream demand and the reality of low inventory. We will pay attention to the production and sales of polyester and the progress of restarting the ethylene glycol plant in the future. It is expected that there is a high probability of short-term sideways fluctuations.

According to the Commodity Market Analysis System of Shengyi Society, from June 2nd to 6th, the average price of BDO in China increased from 8107 yuan/ton to 8185 yuan/ton, with a price increase of 0.97% during the period, a month on month increase of 2.96%, and a year-on-year decrease of 9.41%. The pre maintenance equipment has not been restarted yet, and some devices have reduced load, changed agents or unexpectedly stopped, resulting in tight market supply; And the online auction was sold at a premium, and the holding manufacturers actively supported the market by offering their products. Downstream demand has increased, but bargaining sentiment still exists under cost pressure, and the market’s center of gravity has limited growth.
On the supply side, the early maintenance equipment has not yet restarted, while the Xinjiang unit has reduced its acetylene maintenance load, Huaheng’s one set of equipment has been replaced, and the Inner Mongolia unit has stopped due to unexpected equipment failures. The market supply of goods has once again decreased, and the industry is in an effective state of destocking. Most suppliers are selling without pressure, and some factories are temporarily not accepting orders due to tight supply. Some have raised their offers actively to support the market. The supply of BDO is affected by favorable factors.
On the cost side, the sudden increase in supply of raw material calcium carbide has become the main factor causing the decline in calcium carbide prices. The domestic methanol market is running weakly. As of 10:00 am on June 6th, the domestic methanol Taicang price was 2315 yuan/ton. The fluctuation of raw materials such as calcium carbide and methanol is influenced by bearish factors on the BDO cost side.
On the demand side, the downstream PBT industry’s capacity utilization rate has significantly increased, while other downstream loads have remained unchanged, resulting in an overall increase in raw material digestion. However, the follow-up of terminal demand is not smooth, and downstream industries, except for THF, GBL, and NMP, are still operating in a stalemate with the rise of raw materials. Most downstream industries remain in a loss making state, resulting in weak acceptance of high raw material prices. The ongoing supply-demand negotiation game has led to limited growth and actual order implementation in the BDO market. The demand side of BDO is affected by bearish factors.
In the future forecast, the supply of goods in the BDO market is still tight, while downstream demand is performing well, and the industry’s destocking situation continues, with prices expected to continue to rise. Business Society BDO analysts predict that the domestic BDO market is fluctuating.

According to the commodity analysis system of Shengyi Society, the market for locally refined petroleum coke fluctuated downward in May. The mainstream average price of petroleum coke products from major domestic refineries was 2225.00 yuan/ton on May 31 and 2262.50 yuan/ton on May 1, with a monthly decline of 1.66%.
Cost wise: The crude oil market fell first and then rose in May. In early May, the crude oil market experienced a significant decline, mainly due to OPEC+increasing production beyond expectations, which was negative for international oil prices and led to a sharp decline in the crude oil market. In the later stage, with the increasing oil restrictions imposed by the United States on a certain country and the renewed tension in the Middle East, the tariff issues between China and the United States eased, and international oil prices rose. Overall, international oil prices fluctuated and rose in May
Supply side: In early May, the shipment of petroleum coke from local refineries was average, and downstream purchases were cautious when entering the market. Refinery shipments were hindered, and the price of petroleum coke continued to decline; In mid May, the shipment of petroleum coke from local refineries was good, downstream procurement was active, and coupled with low inventory of petroleum coke in some refineries, the price of petroleum coke continued to rise; In late May, the shipment of petroleum coke from local refineries was average, and there was a strong wait-and-see sentiment downstream at the end of the month, with on-demand procurement being the main focus. The transaction of petroleum coke at the port in May was average, with stable prices as the main factor, and downstream enterprises maintained their essential procurement.
On the demand side: In May, the domestic silicon metal market continued to show a weak supply-demand situation. During the month, the overall operating rate of the silicon metal market was low, and due to supply pressure, some silicon companies had extremely low operating volumes. The overall support provided by the supply side to the silicon metal market was weak. The overall recovery of downstream demand market is slow, with cautious demand performance. The demand side has limited procurement of raw materials, and the support provided by the demand side to the market is also insufficient. The demand for petroleum coke market in the silicon industry still exists.
In May, the market for medium sulfur calcined coke remained stable, but downstream procurement enthusiasm for medium high sulfur calcined coke was poor, and enterprise shipments were slightly weak, leading to a consolidation of the calcined coke market.
The operating capacity of electrolytic aluminum in June is expected to increase by about 200000 tons, and the effective operating capacity is expected to climb to over 44 million tons, with a slight increase in production. In terms of overseas imports, the import volume is expected to remain relatively high, and the overall supply is showing an increasing trend, which will put some pressure on aluminum prices. Downstream aluminum uses carbon as the main demand in the petroleum coke market.
Market forecast: Currently, the domestic supply of petroleum coke is relatively sufficient, and downstream procurement enthusiasm is limited. It is expected that the recent consolidation of the petroleum coke market will be the main trend.

In May, the epoxy chloropropane market showed a “climbing” trend due to factors such as the rise in raw material glycerol prices, with prices continuing to rise. According to the monitoring and analysis system of Shengyi Society, as of May 30th, the benchmark price of Shengyi Society’s epichlorohydrin was 9700 yuan/ton, an increase of 7.78% compared to early May. By the end of May, approaching holidays, downstream market stocking had ended, and the epichlorohydrin market showed a stable to declining trend.
Price influencing factors:
Raw material side: In May, the market price of glycerol raw material increased, the low-priced supply decreased, and the supply was tight, which provided strong support for glycerol based epichlorohydrin enterprises and led to an upward trend in prices. As of May 27th, the price of 99.5% glycerol in East China was 7050 yuan/ton, an increase of 11.2% compared to May 6th. The market price of raw material propylene fluctuated weakly, and after mid May, the price of raw material propylene rose, coupled with some equipment being negatively charged, resulting in a short-term shortage of market supply. Overall, the tight supply of raw materials and the significant cost pressure caused by price increases have led to a continuous rise in the market price of epichlorohydrin. According to the monitoring and analysis system of Shengyi Society, as of May 30th, the benchmark price of propylene in Shengyi Society was 6538.25 yuan/ton, a decrease of -0.49% compared to the beginning of this month (6570.75 yuan/ton).
Supply side: Qingdao Bay glycerol plant or start-up, some factories are planned to restart after maintenance, and the market supply is sufficient. Overall, the operating rate remains at around 50-60%, with slightly loose supply.
Downstream demand side: In May, the downstream epoxy resin market showed weak demand, with rigid procurement being the main focus and a strong wait-and-see sentiment in the market. In addition, the pre holiday stocking has ended, overall inquiries have decreased, the trading atmosphere is cold, and the market has shown a downward trend, which has limited support for epichlorohydrin.
Market forecast: Analysts from Shengyi Society believe that with the end of pre holiday stocking and insufficient support from market demand, the high price of glycerol on the raw material side is under pressure, but demand follow-up is not smooth, and there may be expectations of a decline in market prices, which will limit support for epichlorohydrin. Overall, there is a lack of favorable supply and demand conditions, and it is expected that the focus of the epichlorohydrin market may decline in June. More attention still needs to be paid to changes in market supply and demand, as well as the dynamics of the raw material market.

1、 Price trend
According to the monitoring of the commodity market analysis system of Shengyi Society, the market price of isopropanol first rose and then fell in May, and overall, the market price of isopropanol fell. On May 1st, the average price of isopropanol in China was 6563.33 yuan/ton, and on May 30th, the average price was 6525 yuan/ton, a decrease of 0.58% compared to the beginning of the month.
In May, the market price of isopropanol first rose and then fell, and overall, the market price of isopropanol fell. In the first half of the year, the main factories had low operating loads, and the on-site spot market was tight. Holding traders pushed up the market price of isopropanol. In mid month, the isopropanol market fluctuated and rose, with the price of raw material acetone increasing. The cost support was strong, and the market sentiment improved, resulting in an upward adjustment of on-site prices. In the latter half of the year, the price of raw material acetone fell, with insufficient cost support, coupled with weak market demand and low purchasing enthusiasm, resulting in a decline in the isopropanol market. As of now, most of the isopropanol market prices in Shandong are around 6400-6450 yuan/ton; The majority of prices in the isopropanol market in Jiangsu region are around 6600-6700 yuan/ton. Overall, the confidence in the isopropanol market is average, with a focus on maintaining stability.
In terms of raw material acetone, the focus of the domestic acetone market fell mainly in May. The national acetone market has been trading at an average price of 5830 yuan/ton since May 1st, falling to 5673.5 yuan/ton on May 30th, a decrease of 3.3%. At present, there is little change in the market fundamentals, with traders accompanying them to make offers and terminals conducting them on demand. Small orders are the main focus, and the overall market is operating steadily.
In terms of propylene, the domestic propylene market fluctuated and fell in May. On May 1st, the market was average at 6570.75 yuan/ton, and on May 30th, the average price was 6538.25 yuan/ton, a decrease of 0.49% in price. At present, manufacturers continue to offer discounts on shipments, and downstream suppliers are more willing to replenish inventory at low prices. It is expected that the market will stabilize and operate in the short term.
3、 Future forecast
The isopropanol analyst from Business Society Chemical Branch believes that the isopropanol market price first rose and then fell in May. At present, the enthusiasm for downstream procurement is not high, and most of them are wait-and-see, with limited actual transactions in the market. It is expected that isopropanol will fluctuate in the short term, and more attention should be paid to the trend of the raw material market.

According to the monitoring of the commodity market analysis system of Shengyi Society, as of May 30th, the price of lead 1 # was 16475 yuan/ton, a decrease of 1.67% from the lead price of 16755 yuan/ton on May 26th.
This week’s market analysis
This week, the price fell below the key psychological level of 16600 yuan. At the same time, the capacity utilization rate of recycled lead has rebounded to a level of over 60%. Coupled with the decline in battery export data compared to the previous cycle, in the short term, the market may continue to be weak and explore bottom support.
supply end
In the lead spot trading market, the Shanghai lead price continues to maintain a weak consolidation trend, and the willingness of holders to ship is not strong. Their quoted quantity has decreased compared to yesterday. There is a strong sentiment of reluctance to sell and raise prices in recycled lead factories.
demand side
Most downstream companies are adopting a wait-and-see attitude, cautious in their procurement behavior, and some companies have even planned to arrange holidays. Due to the fact that there is no need to supplement scattered orders for pre holiday production, the transaction situation in the spot market has not shown significant improvement so far.
comprehensive analysis
The cost side support and production reduction measures work together to provide a certain degree of resilience for market prices. However, the seasonal weakening of demand has limited the upward space for prices. Lead prices are expected to bottom out in the short term.

In May 2025, the price of polyester bottle flakes showed a fluctuating trend of first rising, then falling, and then slightly rebounding. According to the price data from Shengyi Society, as of May 29th, the average sales price of PET was 6077 yuan/ton. The core driving factors for the price of bottle tablets this month include cost fluctuations, persistent supply-demand contradictions, and seasonal demand differentiation.
price trend
At the beginning of May, spot prices in the East China region fluctuated narrowly around 5700 yuan/ton, and downstream soft drink companies had a low willingness to replenish inventory, with transactions mainly focused on small orders for essential needs.
After Labor Day, supported by the rebound of crude oil and the strengthening of raw materials PTA and ethylene glycol, coupled with the reduction of PX unit load and the increase of PTA costs, the price of bottle chips rose. On the 14th, the highest quotation in East China reached 6185 yuan/ton.
In the second half of the month, the decline in crude oil dragged down the weakness of raw materials, and the price of polyester bottle flakes fell. Mainstream filament factories planned to reduce production by 15%, and the raw material PTA fell to 4890 yuan/ton. The price of bottle flakes continued to drop to the line of 6000 yuan/ton, and then the price fluctuated weakly.
Analysis of Core Influencing Factors
1. Cost side: Cost fluctuations dominate prices
Crude oil prices fluctuate: OPEC+production expectations are intertwined with Middle East geopolitical risks, with Brent crude fluctuating around $70 per barrel, directly transmitting to PTA and ethylene glycol. The PTA processing fee was temporarily restored to 325 yuan/ton, but the addition of 4.5 million tons of production capacity throughout the year suppressed long-term profits; The inventory of ethylene glycol at the port is high (584400 tons), and the loose supply and demand are difficult to change.
Aggregation cost increases: Due to the unplanned reduction of PX plant load, the weekly production cost of bottle flakes has increased by 509 yuan/ton, and the industry loss has expanded to -317 yuan/ton, increasing the willingness of factories to raise prices.
2. Supply side: high operating rate and inventory
High operating rate and new production capacity: The industry operating rate remains at 87.93%, with a weekly output of 365000 tons. Combined with the planned new production capacity of 2.15 million tons in 2025, the long-term oversupply pattern remains unchanged at 2510.
High inventory levels: Inventory days reach 16-18 days, although spot circulation is tight in some areas, it overall suppresses the space for price rebound.
3. Demand side: Weak recovery
Weak domestic demand: The operating rate of the soft drink industry has recovered to 80% -90%, but the inventory of end products remains high (23.64 days for weaving enterprises), and replenishment is only limited to small orders for basic needs.
Marginal weakening of export support: In April, the export volume was 580800 tons, a year-on-year increase of 27.3%. However, due to the global economic slowdown and anti-dumping investigations, the increase is difficult to offset domestic supply pressure.
4. Policy wise: Negative sentiment disturbance
Futures margin increase: Zhengzhou Commodity Exchange has adjusted the margin for bottle futures to 9% since May to curb short-term speculative trading.
Environmental policy suppression: The policy of replacing biodegradable materials has a long-term impact on demand expectations, coupled with uncertainty about the Federal Reserve’s interest rate cuts, and market confidence is fragile.

Future prospects
In terms of cost, crude oil lacks sustained rebound momentum, PTA’s new production capacity suppresses processing fees, and the accumulation of ethylene glycol is difficult to solve, resulting in weak cost support. In terms of demand, the stocking of beverages during the peak season from late May to June will begin. If demand exceeds expectations and is released, or if prices are temporarily supported.
Overall, the price of polyester bottle chips may continue to fluctuate at a low level in the short term. The actual trend still needs to be monitored for changes in external news, crude oil prices, equipment changes, and whether peak season demand is fulfilled.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of bromine rose on May 28th. The average market price of bromine is around 24800 yuan/ton, up 0.81% from yesterday. On May 27th, the Business Society Bromine Index was 86.32, an increase of 2.11 points from yesterday, a decrease of 64.79% from the highest point of 245.18 points during the cycle (2021-10-27), and an increase of 46.50% from the lowest point of 58.92 points on October 29th, 2014. (Note: The cycle refers to the period from September 1, 2011 to present)
2、 Market analysis
This week, the price of bromine remained strong, with a reference price of 24000 to 26000 yuan/ton for spot bromine production in Shandong region. On the supply side, enterprises are actively producing, while downstream enterprises have seen an improvement in demand due to the approaching holiday season. In terms of raw materials, the domestic sulfur prices are operating steadily, with an average market price of 2462.33 yuan/ton. Downstream purchases should be made as needed.
Prediction: Bromine prices are expected to remain strong in the near future, while upstream sulfur prices are expected to consolidate. Bromine supply is expected to remain stable, and downstream purchases will be made as needed. Bromine prices remain relatively stable. It is expected that bromine will continue to consolidate and operate in the later period, depending on downstream market demand.