ECHEMI Analysis

In October, the spot market for natural rubber in China experienced fluctuations, with an overall slight increase As of October 31, the price of spot rubber was approximately 14,750 CNY per ton, a 057% increase from the beginning of the month The continuous decline in rubber inventory and the rise in raw material prices provided support to the market, but weak demand from downstream sectors weighed on the market

• Natural rubber market
• fluctuating prices
• declining inventory
• supported by raw material prices

In October, the spot market price of PVC in China continued to decline, falling by 1.80% for the entire month, with an average price of 4,570 CNY/ton. Insufficient cost support and supply-demand pressures led to a weak downward trend in prices, but signs of stabilization appeared at the end of the month. It is expected that in the short term, the PVC market in China will still be in the inventory clearance phase, and there may be room for recovery in the future.

• PVC market: prices decline
• supply-demand pressures
• high inventory levels

October styrene-butadiene rubber market showed a weak downward trend, with the East China market price dropping to 11,283 CNY/ton, a decrease of 498% The prices of raw materials butadiene and styrene decreased by 1542% and 517%, respectively, leading to a reduction in costs The facility utilization rate in China remained stable at around 70%, and the demand from the downstream tire industry slightly increased, but the overall support was limited

• Styrene-butadiene rubber
• cost reduction
• market conditions
• raw material prices decline

In October, asphalt prices in Shandong experienced a significant drop, falling from 3,583 CNY/ton to 3,223 CNY/ton—a price decrease of 1005% This decline was driven by volatile crude oil prices and an ample supply, putting pressure on the market On the demand side, projects in Shandong and Northwest China are nearing completion, while the Northeast region has seen price reductions and promotional activities as construction windows narrow

• Asphalt market: prices decline
• supply remains ample
• demand weakens

In October, the market price of pure benzene in Shandong region fell by 11.57%, from 5848.67 CNY/ton at the beginning of the month to 5172 CNY/ton at the end of the month. Sinopec's pure benzene price was reduced to 5450 CNY/ton. At the end of the month, the spot price in East China remained stable, with good shipment conditions in Shandong, boosting market confidence. In the short term, the pure benzene market is expected to remain stable with some fluctuations.

• Pure benzene prices
• market analysis
• crude oil futures
• overseas pure benzene

In October, the caustic soda prices first increased and then decreased, with a consolidation at the end of the month At the beginning of the month, the average price of caustic soda in Shandong region was 832 CNY/ton, and at the end of the month, it was 838 CNY/ton, an increase of 072%, but a decrease of 1919% compared to the same period last year

• Caustic soda prices
• market trends
• supply-demand dynamics
• chemical industry index

In October, the DOP price plummeted to 7,009.16 CNY per ton, reaching a new low since October 2020, with a monthly price decrease of 4.86%. The decline was driven by a 10.75% drop in the price of raw material iso-octanol and a 5.46% fall in benzene anhydride prices, both of which pushed DOP costs lower. Meanwhile, reduced supply combined with weak demand suggests that DOP prices are expected to remain stable at low levels in the near term.

• DOP prices decline
• raw material costs fall
• both supply and demand remain weak
• market expectations point to low-level consolidation in the near term.

In October, the Chinese epoxy propane market first rose and then stabilized, with a benchmark price of 7,700 CNY/ton, a month-on-month decrease of 0.86%. In the first half of the month, prices increased due to rising raw material costs and reduced supply. In the second half of the month, prices declined due to increased supply and weak demand. It is expected that the market will stabilize in the later period.

• Propylene Oxide Market
• Price Fluctuations
• Supply-Demand Changes
• Impact of Raw Material Costs

This week, the Chinese epoxy propane market mainly operated with consolidation, with the benchmark price at 7,700 CNY/ton, a decrease of 086% from the beginning of the month The price of raw material propylene fell by 684%, and the supply increased due to the restart of the Lihua Yi facility, but the demand side maintained rigid demand procurement, providing limited overall support

• Propylene oxide
• market consolidation
• raw material prices
• supply and demand changes

In October, phthalic anhydride prices continued their downward trend, with a price decrease of 546%, marking the largest monthly drop of the year The primary factors behind this decline were falling costs and weak demand—lower prices for ortho-xylene and industrial naphthalene reduced the cost of phthalic anhydride, while weakening demand from downstream plasticizer manufacturers further pressured the market

• Phthalic anhydride prices decline
• costs fall
• weak demand
• ample supply

In October, the Chinese titanium dioxide market saw a slight increase, with the average price rising from 13,820 CNY/ton to 13,860 CNY/ton, a price increase of 029% Several companies raised their prices, but downstream demand was moderate, and the market was characterized by a strong wait-and-see sentiment In September, titanium dioxide imports decreased, while exports increased

• Titanium dioxide market
• Price trend
• Import and export data
• Market forecast

In October, the epichlorohydrin market initially rose before declining, ending the month at a benchmark price of 11,900.00 CNY/ton—down 2.46% from the beginning of the month. While high glycerol prices continued to provide some support, falling propylene prices weakened cost support. Meanwhile, weak demand for downstream epoxy resins kept market activity sluggish and trading volumes low. Going forward, market prices are expected to remain mostly stable but on the weaker side.

• Epichlorohydrin
• market price
• raw material cost
• weak demand

This week, 85% of the industrial-grade thermal phosphoric acid market prices in China slightly increased by 0.30%, with the average price rising from 6,620 CNY/ton to 6,640 CNY/ton. The price of yellow phosphorus raw materials has shown a strong increase, leading to increased cost support. It is expected that the phosphoric acid market will remain strong and consolidate in the short term.

• Phosphate Market
• Price Trends
• Cost Analysis
• Future Market Forecast

On October 31, the market price of epichlorohydrin remained stable, with a benchmark price of 11,900 CNY per ton—down 2.46% compared to the beginning of the month. While the high cost of glycerol continued to support the market, declining propylene prices weakened cost-based support. Meanwhile, weak demand for downstream epoxy resins and cautious sentiment among traders suggest that the market for epichlorohydrin is likely to stay predominantly steady in the near term.

• Epichlorohydrin
• market prices
• raw material costs
• weak demand

In October, the price of isooctanol fluctuated downward to 5,950 CNY/ton, marking a 10.75% drop—the lowest level since May 2020. The primary reasons for this decline were falling costs (due to lower propylene prices) and weak demand (reflected in the drop of DOP prices). Looking ahead, market expectations suggest that isooctanol prices may stabilize after hitting their current low point.

• Isooctanol prices decline
• costs fall
• weak demand
• supply tightens

In October, the BDO market in China was weak, with prices falling from 7,565 CNY/ton to 7,437 CNY/ton, a price decrease of 0.38%. Supply decreased due to plant maintenance or reduced loads, but downstream demand increased and put pressure on raw material prices. Cost factors were mixed, with higher calcium carbide prices and weaker methanol prices. It is expected that the BDO market will continue to operate weakly.

• BDO market: prices decline
• supply decreases
• demand increases

In October, the price of ethanol in China fell, with the average price dropping from 5,560 CNY/ton to 5,304 CNY/ton, a decrease of 4.61%. Cost, supply, and demand factors were all negative, and it is expected that the ethanol market will remain weak in the short term.

• Ethanol market: prices decline
• supply increases
• weak demand

In October, the price of ethylene glycol shifted downward, with the average price of oil-based ethylene glycol in China falling by 3.74% to 4,220.83 CNY per ton. The price decline was due to factors such as increased supply, weak demand, and the macroeconomic environment. In November, it is expected that the price of ethylene glycol will first weaken and then strengthen.

• Ethylene glycol prices
• oversupply
• weak demand
• macroeconomic impact

In October, the demand for phenol in China was poor, with prices falling significantly by 5.43%. The prices of both raw materials declined, leading to insufficient cost support. Although production increased by 9% month-over-month, downstream purchasing enthusiasm was low, and inventory pressure was not significant. It is expected that supply may decrease in November, with little change in demand. The market may continue to bottom out and show periodic increases and fluctuations.

• Phenol market: Weak demand
• prices decline
• plant maintenance

In October, the Chinese methanol market experienced significant fluctuations, with the average price at East China ports falling to 2,215 CNY/ton, a decrease of 3.69%. Affected by high supply pressure, prices weakened. The methanol futures closing price on the Zhengzhou Commodity Exchange fell by 2.37%. It is expected that domestic supply will be sufficient in the future, and the spot market will remain weak and consolidate.

• Methanol Market: Price Volatility
• Supply-Demand Pressure
• and Rising Costs