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.