Aluminum prices began to stabilize after a significant drop in April
After a significant drop in aluminum prices in April, they stabilized. According to the Commodity Market Analysis System of Shengyi Society, as of April 29, 2025, the average price of aluminum ingots in the East China market in China was 20033.33 yuan/ton, a decrease of 2.64% from the market average price of 20576.67 yuan/ton on April 1; Compared to the market average price of 1940 yuan/ton on April 9th, it has increased by 2.52%.
In early April, due to the impact of US tariff news, the commodity market experienced a stress response, and aluminum prices showed a significant decline. Recently, the price of aluminum ingots has rebounded and begun to return to fundamental considerations.
Positive factors:
Aluminum ingots are well stocked. According to inventory data, as of April 28th, the total inventory of electrolytic aluminum in the mainstream domestic market was 643000 tons, a decrease of 129000 tons from the total social inventory of 774000 tons at the beginning of the month (4.3).
The price of alumina has stopped falling, and the cost side profit margin has been fully utilized. The negative feedback on the cost side of electrolytic aluminum has subsided. In March April 2025, alumina enterprises will gradually face losses, and multiple companies will choose the opportunity to carry out maintenance. From the end of March to April, a total of about 11.5 million tons of production capacity underwent maintenance, and some companies provided feedback on their maintenance plans for May. Due to concentrated maintenance and production reduction, the operating capacity of alumina is lower than the theoretical demand for electrolytic aluminum production, the spot supply is tightening, prices have stopped falling, and there has been a slight rebound in the northern region.
Negative factors:
Under the pressure of global trade risks, the uncertainty of aluminum demand has increased. There is an expectation of a transition from shortage to surplus in aluminum supply and demand throughout the year. Under the influence of US tariffs, the export prospects of aluminum containing end products are bleak, and the demand for aluminum ingots is showing a strong internal and weak external trend, putting pressure on aluminum exports.
Future Market:

In the short term, it is expected that the price of aluminum ingots will fluctuate around 20000 yuan/ton and enter a sideways range.

Recently (4.22-4.28), the market price of Shunding rubber has slightly increased. According to the commodity market analysis system of Shengyi Society, as of April 28th, the market price of Shunding rubber in East China was 11950 yuan/ton, an increase of 1.88% from 11730 yuan/ton on the 22nd. The price of raw material butadiene has significantly increased, and the cost support of butadiene rubber has greatly strengthened; Shunding rubber production has slightly increased, leading to a slight increase in supply pressure; Downstream production slightly decreased, and overall inquiries in the Shunding rubber market remained flat. Merchant offers slightly increased, with mainstream quotes in Qilu, Daqing, Sichuan, and Yangtze Shunding in East China ranging from 11900 to 12200 yuan/ton as of April 28th; The price of some private Shunding is around 11700~11900 yuan/ton.
Recently (4.22-4.28), the price of butadiene has significantly increased, and the cost support of butadiene rubber has strengthened. According to the Commodity Market Analysis System of Shengyi Society, as of April 28th, the price of butadiene was 9300 yuan/ton, an increase of 13.41% from 8200 yuan/ton on the 22nd.
Recently (4.22-4.28), the construction of domestic butadiene rubber plants has rebounded, with an overall construction rate of around 6.70%. There are still some plans to restart the maintenance equipment in the later stage, and the supply of butadiene rubber is expected to increase.
On the demand side, downstream tire production has slightly decreased, and there is a strong wait-and-see atmosphere in the Shunding rubber market, with flat inquiries. As of April 25th, the operating load of semi steel tires in domestic tire enterprises was around 7.8%; The production of all steel tires by tire companies in Shandong Province has slightly decreased to around 6.3% of the load.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the current price of butadiene has significantly increased, and the cost support for butadiene rubber has greatly strengthened; However, due to the impact of the international trade situation, downstream inquiries are cautious and market transactions are flat in the short term. In addition, with the increase in production of butadiene rubber, it is expected that the butadiene rubber market will continue to consolidate weakly in the later stage.

This week (April 21-27, 2025), the upstream raw material market prices continued to decline, while downstream manufacturers held onto their demand and followed suit. There was no positive support from both the cost and demand sides, and some nylon filament manufacturers had high inventory. With mixed news on the market, the price trend of nylon filament continued to decline.
According to the Commodity Market Analysis System of Shengyi Society, the price of nylon filament continued to decline weakly this week (April 21-27, 2025). As of April 27, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 15340 yuan/ton, a decrease of 140 yuan/ton from last week’s price, a weekly decrease of 0.90%; Nylon POY (premium product; 86D/24F) quoted 12675 yuan/ton, a decrease of 225 yuan/ton from last week’s price, a weekly decrease of 1.74%; The price of nylon FDY (premium: 40D/12F) is reported at 15875 yuan/ton, a decrease of 200 yuan/ton or 1.24% from last week’s price.
The raw material market continues to decline
In terms of cost, the weekly closing price of Sinopec’s high-end caprolactam has been lowered to 9430 yuan/ton. The market price of high-speed spinning nylon PA6 slices has continued to decline during the week, and the price center of the raw material market has declined. It is difficult to find favorable support for the cost side. As of April 27, 2025, the benchmark price of caprolactam in Shengyi Society was 9360 yuan/ton, with a weekly decline of 3.11%. During the week, the market price of high-speed spun nylon PA6 chips fell sharply, with a 2.92% drop in nylon PA6 prices, indicating weak cost support.
Supply and demand: This week (April 21-27, 2025), some nylon filament manufacturers lowered their equipment operating rates to control inventory, resulting in a decline in overall industry supply and mediocre performance on the supply side; The issuance of new orders in the terminal market is limited, and there is a certain degree of risk aversion in the downstream market. The purchasing enthusiasm is not high, and the demand side is dragging down the market trend. The market price of nylon filament is under pressure and declining, and the overall profit margin of the market is not ideal.
Future forecast
Cost aspect: There is a lack of significant boost in raw material supply, and there is ample supply of caprolactam in the market. Downstream enthusiasm for receiving goods is not high, and it is expected that the market price of caprolactam will narrow down next week. In terms of nylon PA6 slicing, the negative pressure on the cost side has decreased, and the operating level of the nylon PA6 slicing market is at a low level. Downstream manufacturers may gradually replenish their inventory due to low demand. It is expected that the nylon PA6 slicing market will slightly decline next week. Therefore, it is expected that there may be a possibility of a decline in the raw material market prices next week.
On the supply and demand side, shipments are not ideal, inventory continues to accumulate, and some nylon filament manufacturers still have plans to lower their operating loads. It is expected that the supply of nylon filament in the market may still decrease in the short term; The demand in the terminal market remains weak, and downstream manufacturers are holding onto rigid procurement. There is no sign of improvement on the demand side, so it is expected that the demand side of the nylon filament market will perform poorly next week.
Overall, the spot market for raw material caprolactam and the PA6 chip market may continue to decline, with a lack of cost support. Some downstream manufacturers have plans to reduce production, making it difficult for demand to improve. Business analysts predict that the nylon filament market prices will continue to decline next week, with an expected drop of 100-200 yuan/ton.

According to the Commodity Market Analysis System of Shengyi Society, on April 25th, the reference market price of cyclohexanone in Shandong Province, China was 7636 yuan/ton. Compared with April 1st (reference market price of cyclohexanone was 8212 yuan/ton), the price decreased by 536 yuan/ton, a decrease of 7%.
From the Commodity Market Analysis System of Shengyi Society, it can be seen that from April to now (4.1-4.25), the domestic cyclohexanone market in Shandong Province has shown an overall downward trend. During the month, the market price of cyclohexanone in Shandong has been continuously adjusted downwards, and the focus of negotiations has shifted towards lower levels. As of April 25th, the reference price for cyclohexanone market in Shandong is around 7600-7750 yuan/ton, with a price reduction of around 400-600 yuan/ton for the month.
Market influencing factors
In terms of supply and demand: During the month, the overall trading atmosphere in the cyclohexanone market in Shandong was poor, with abundant supply on the supply side and slow overall market shipments. The supply side remained under pressure. In terms of downstream demand, the overall market support for cyclohexanone downstream demand is insufficient, and the downstream chemical fiber market is cautious in following up on new orders. The demand transmission is slow, and the contradiction between cyclohexanone supply and demand is intensifying.
In terms of cost: Since April, the raw material pure benzene market has fluctuated downward, providing insufficient cost support for cyclohexanone. As of April 24th, the reference price of pure benzene was 6268.67 yuan/ton, a decrease of 5.87% compared to April 1st (6659.67 yuan/ton).
Market analysis in the future
At present, the trading atmosphere in the cyclohexanone market is light, and there is little change in the transmission between supply and demand. The cyclohexanone data analyst from Shengyi Society believes that in the short term, the domestic cyclohexanone market price will mainly operate in a range, and the specific trend still needs to pay more attention to the changes in supply and demand news.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the week was 12000 yuan/ton, and the price of activated carbon at the end of the week was 12033/ton, with a price increase of 0.28%.
Most domestic activated carbon manufacturers have stable quotes this week, with a few rising. The ex factory price of activated carbon for coconut shell water purification in East China is between 8800-13000 yuan/ton, with increasing demand and accelerated downstream market sales. The focus is on market transactions.
The shipment of coconut shell charcoal for applications such as gold extraction, water purification, and filter cartridges has accelerated, especially for gold charcoal, which has received more inquiries from the African market; The shipment of fruit shell charcoal is smooth. There is a recent rebound trend in imported carbide materials, so pay more attention to the transaction situation.
Prediction: The activated carbon market is actively trading, and it is expected that the price of activated carbon will mainly fluctuate with a strong trend in the short term.

1、 Price trend
According to the commodity analysis system of Shengyi Society, the price of light soda ash remained stable on April 23, with a market average price of 1400 yuan/ton, unchanged from the previous trading day’s price of 1400 yuan/ton, and a decrease of 2.37% from the beginning of the month.
2、 Market analysis
On April 23rd, the soda ash market remained stable. On the demand side, the consumption in the terminal market is slow, and there is a lack of support for soda ash due to the urgent need to follow up on market purchases; On the supply side, the operating rate of soda ash remains high, the market supply of goods is sufficient, the trading atmosphere in the market is relatively weak, the shipment of enterprises is average, and the quotes for soda ash are mostly stable.
On the demand side: According to the commodity analysis system of Shengyi Society, glass prices remained stable on April 23, with the market average price remaining unchanged at 15.58 yuan/square meter. The glass market has not changed much in terms of production, with stable operation of equipment and downstream procurement following up as needed. Market trading is still acceptable, but glass inventory is slow, and market prices are running steadily.
Future forecast: Some domestic soda ash facilities are expected to undergo maintenance, resulting in a decrease in capacity utilization. The downstream glass market is temporarily stable, with limited demand for soda ash. The supply side is expected to increase, and the soda ash market is expected to consolidate and rise, depending on downstream market demand.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on April 22 was 1066 yuan/ton, an increase of 3.06% compared to the average price of 1035 yuan/ton on April 14.
2、 Market analysis
After the domestic ammonium sulfate market price rose this week, it has been consolidating and operating. The operating rate of coking enterprises remains stable, and the operating rate of their internal equipment is at a low level. At the beginning of the week, domestic ammonium sulfate prices continued to rise. After the continuous increase in ammonium sulfate prices, downstream replenishment enthusiasm weakened, and there was resistance to high prices. The ammonium sulfate market began to consolidate and operate. As of April 22nd, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 1030 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1040-1090 yuan/ton.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the recent market trend of ammonium sulfate has been narrowly adjusted and operated. At present, downstream procurement urgently requires replenishment, and the ammonium sulfate market adopts a cautious and wait-and-see attitude, with manufacturers mainly pushing prices. It is expected that the domestic ammonium sulfate market will remain stagnant and operate in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the toluene market will decline from April 11 to April 18, 2025. On April 11th, the benchmark price of toluene was 5840 yuan/ton, and on April 18th, the benchmark price of toluene was 5600 yuan/ton, a decrease of 4.11%. Although crude oil prices have fluctuated upwards this week, poor downstream demand has dragged down the overall weak operation of the toluene market. Refinery quotations in Shandong region have been continuously lowered this week, and downstream purchases have been made on dips. The supply in the East China market is slightly loose, the overall performance of the aromatic hydrocarbon market is weak, the toluene market is dragged down by weak prices, the price reduction of Sinopec in the South China region is dragging down the mentality of the spot market, and the market is slightly under pressure due to high port inventory.
On the cost side, international oil prices have fluctuated upward this cycle. As of April 17th, the settlement price of the main contract for WTI crude oil futures in the United States was $64.68 per barrel, and the settlement price of the main contract for Brent crude oil futures was $67.96 per barrel.
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 April 18th, East China Company quoted 5550 yuan/ton, North China Company quoted 5500 yuan/ton, South China Company quoted 5600-5700 yuan/ton, and Central China Company quoted 5750 yuan/ton.
Demand side:
On April 18th, the price of xylene at Sinopec Sales Company was temporarily stable, with a current execution price of 6800 yuan/ton. This price was implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other facilities operated stably, with normal sales, and remained the same as the price on April 11th. As of April 17th, the closing prices of the xylene market in Asia were $715-717/ton FOB Korea and $740-742/ton CFR China, a decrease of $6/ton from the 11th price.
Market forecast: The crude oil trend this week has little impact on the toluene market, and the main influencing factor is still on the supply and demand side. The overall loose performance of the supply side has led to a weak atmosphere in the spot market, and the bearish sentiment in the aromatics market is strong in the future. On the demand side, the downstream overall maintains on-demand procurement, but the demand is urgent. Overall, the toluene market is still under pressure, and it is expected that the market will mainly operate weakly in the short term.

According to the Commodity Market Analysis System of Shengyi Society, from April 14th to 18th, MTBE prices fell from 5525 yuan/ton to 5422 yuan/ton, with a price drop of 1.86% during the period, a month on month drop of 5.70%, and a year-on-year drop of 27.82%. The MTBE market is showing a fluctuating downward trend, with poor performance in the gasoline terminal market and continuous imbalance between production and sales. The demand for MTBE continues to be low, and at the same time, Dongying Shenchi and Bengu new material facilities are both operating, further increasing resource supply and significantly increasing domestic supply pressure.
On the cost side, in terms of crude oil: The rise in international oil prices is mainly due to the continued positive factors of the US sanctions against Iran, coupled with some oil producing countries submitting compensation plans for overproduction. As of April 18th, the settlement price of the main Brent crude oil futures contract was $67.96 per barrel.
On the demand side, in terms of gasoline terminal demand, there has been no significant increase in terminal demand at this stage. The inventory digestion of social units is slow, and end users and traders are very cautious in their ordering operations. For several consecutive days, the production to sales ratio of refineries has not exceeded 100%. Refineries have no choice but to lower prices and promote sales, and the market trading atmosphere is flat. The MTBE demand side is affected by bearish factors.
Supply side: Overall expected resource supply or slight increase. Short term domestic MTBE supply is affected by bearish factors.
As of the close on April 17th, the closing price of the Asian MTBE market has increased by $9.92/ton compared to the previous trading day, with FOB Singapore closing at $666.04-668.04/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 $787.99-788.49/ton. The closing price of the MTBE market in the United States increased by $35.73 per ton compared to the previous trading day, and the FOB Gulf offshore price closed at $704.35-704.71 per ton (198.88-198.98 cents per gallon).
As the May Day holiday approaches, people’s expectations for travel and leisure activities are increasing, and gasoline market transactions are gradually improving, which is expected to provide some support for the MTBE market. But currently, the supply of MTBE resources is still relatively high. Let’s take a look at the supply and demand. MTBE analysts from Shengyi Society believe that the domestic MTBE market is mainly characterized by narrow fluctuations.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of April 17th, the reference average price of 85% industrial grade phosphoric acid in China was 6860 yuan/ton, which is stable compared to the reference average price of 6860 yuan/ton on April 11th.
2、 Market analysis
Market Aspects
The domestic phosphoric acid market prices remained stable this week. As of April 17th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6500-7000 yuan/ton, and the ex factory price of 85% thermal phosphoric acid in Sichuan region is around 6900-7100 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6700-7300 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. This week, the yellow phosphorus market has declined, with business owners mainly placing early orders. At present, there is insufficient follow-up on downstream demand, and the enthusiasm for procurement has weakened. Short term domestic yellow phosphorus prices are expected to weaken and consolidate.
Supply and demand side
The supply and demand balance in the phosphoric acid market this week. At present, the supply of phosphoric acid in the market is stable, with stable shipments on the demand side and downstream procurement based on demand. Expected to maintain a balance between supply and demand in the short term.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been steadily consolidating and operating in recent days. The price of raw material yellow phosphorus has been lowered, and cost support has weakened. The phosphoric acid market is currently adopting a wait-and-see attitude, with enterprises focusing on stabilizing prices. It is expected that the domestic phosphoric acid market will consolidate and operate in the short term due to weak raw materials.