Price Trends

This week, the melamine market in China was affected by the geopolitical events in the Strait of Hormuz and the demand for spring plowing, causing the price to rise rapidly to 6150 CNY/ton, with a price increase of 4.05%. The cost transmission chain and tight supply and demand supported the high price fluctuation. In the short term, it is expected to maintain a range of 6100-6400 CNY/ton, and in the medium term, it may fall back to 5800-6100 CNY/ton.

• Melamine
• Geopolitics
• Rising Costs
• Supply-Demand Relationship

On March 4, influenced by the geopolitical conflict in the Middle East, China's SC crude oil futures surged by 1399%, significantly premium over Brent and WTI, reaching $1135 per barrel and $1819 per barrel, respectively This was mainly due to the sharp rise in maritime freight rates, the divergence in pricing of geopolitical risks, and support from near-month deliveries The market is closely watching the navigation situation in the Strait of Hormuz and the direction of US

• Middle East geopolitical conflict
• crude oil futures premium
• China SC crude oil
• supply risk premium

After the Spring Festival, the Chinese acrylonitrile market rebounded from the bottom due to increased cost pressures, with prices increasing by about 200 CNY per ton Geopolitical risks in the Middle East led to increases in crude oil and propylene prices, further driving up costs Some plants conducted planned maintenance, reducing supply and supporting market prices In the short term, the impact on exports is limited, but in the long term, it may be affected by rising freight costs

• Geopolitical risks
• Acrylonitrile prices
• Cost-driven
• Supply-side impacts

Affected by geopolitical developments, rising prices of crude oil and PTA have driven up the cost of polyester bottle flakes, with the average spot price in East China reaching 6,667 CNY per ton. Reduced supply, recovering demand, and tight inventory levels continue to support price fluctuations at high levels. In the short term, prices are expected to remain volatile but generally strong.

• Geopolitical situation
• polyester bottle chip prices
• crude oil prices
• supply cuts

Affected by the escalating geopolitical situation in the Middle East, international crude oil prices have risen sharply, boosting the spot market for cis-1,4-polybutadiene rubber As of March 3, the price of cis-1,4-polybutadiene rubber in the East China region had risen by 507% from the beginning of the month to 13,670 CNY per ton

• cis-butadiene rubber
• crude oil prices
• Middle East situation
• inventory pressure

March 3, the average market price of pure benzene in China rose to 6,620 CNY/ton, an increase of 4.2% from the previous day. Affected by the conflict in the Middle East and the rise in crude oil prices, the price of pure benzene also strengthened. Sinopec's listed price was raised to 6,600 CNY/ton, and the factory prices of local refineries in Shandong were mostly between 6,600-6,700 CNY/ton. In the short term, the pure benzene market in China is expected to remain strong.

• Pure benzene price
• crude oil futures
• market analysis
• chemical products

In February 2026, the market price of cyclohexanone in Shandong, China, rose steadily from 6900 CNY/ton at the beginning of the month to 7250 CNY/ton at the end of the month, with a price increase of 507% The main reasons for the price increase were strong cost support, improved supply and demand dynamics, and a boost in market sentiment In the short term, prices are expected to remain high, but there is a need to be cautious about potential downward pressure

• Cyclohexanone prices
• improving supply and demand
• cost support
• boosted market sentiment

This round of acrylic acid price increase is mainly driven by the cost rise triggered by geopolitical risks in the Middle East, rather than a supply shortage As of March 3rd, the price of acrylic acid has risen by 367% compared to the beginning of the month

• Middle East geopolitical risks
• acrylic market
• cost-driven
• impact of oil prices

Affected by the escalation of the Middle East conflict, international crude oil prices have surged, leading to a significant increase in China's gasoline and diesel prices Gasoline and diesel prices at Shandong’s local refineries have risen markedly, and several refineries are planning to cut production The market is witnessing hoarding behavior, while the resumption of spring farming and logistics activities has boosted underlying demand

• Middle East conflict
• international crude oil prices
• China's refined oil market
• supply tightness

As of March 2, the price of DOP rose to 7,800.84 CNY per ton, representing a price increase of 1.30%. The prices of isooctanol and phthalic anhydride climbed to 6,833.33 CNY per ton and 6,383.33 CNY per ton, respectively, driving up the cost of DOP. Influenced by geopolitical factors in the Middle East and rising costs, DOP prices are expected to continue fluctuating and trending upward.

• DOP prices
• rising costs
• geopolitical impacts in the Middle East
• rising raw material prices

In February 2026, the toluene prices in China fell from 5,540 CNY/ton to 5,400 CNY/ton, a cumulative decrease of 2.53%. The cost side was initially strong but then weakened, with weak demand, especially due to the delayed resumption of work after the holiday, which dragged down the prices. It is expected that the market will be slightly stronger in March, but attention needs to be paid to geopolitical conflicts and the resumption of downstream operations.

• Toluene market
• changes in cost support
• weak demand
• impact of crude oil price fluctuations

In February, the Shandong n-butanol market experienced a significant price drop due to weak demand and ample supply, with prices falling by 9.45% and reaching a low of 6,000–6,050 CNY per ton. Since the Spring Festival, the market has shown no signs of a noticeable recovery, and prices are expected to fluctuate within the range of 6,000–6,100 CNY per ton in the short term.

• Supply and demand are loose
• n-butanol prices are falling
• demand support is insufficient
• supply is abundant.

In February 2026, the epoxy resins industry updates included the environmental impact assessment announcement for Jiangxi Qingzhu Electronics' 150,000-ton project, Inov's capacity expansion, and the approval of a 320,000-ton project in Maoming. Anhui Hengxing New Materials' maintenance affected short-term supply. Saudi Arabia initiated an anti-dumping investigation on epoxy resins from China, and the EU updated its SVHC list, adding BPAF, which impacted the compliance costs for exports.

• Epoxy resins
• capacity expansion
• international trade
• policy updates

This week, the polyethylene price first increased and then decreased, showing an overall downward trend. The high inventory pressure on the supply side in China remains unchanged, and the demand side is recovering slowly, with market transactions mainly driven by rigid demand. Weakened cost support and cautious macro sentiment have led to a weak polyethylene market in China in the short term.

• Polyethylene market: downward pressure on the supply side
• slow resumption of production on the demand side
• weakening cost support.

After the holiday, in the first week, China's PVC market price fell by 2.3%, with the mainstream transaction price of calcium carbide method SG-5 ranging from 4600 to 4700 CNY per ton. Market supply increased while demand recovery was slow, putting pressure on exports and prices. It is expected that the PVC market will continue to show a weak trend next week, with high supply, cautious demand, and weakened cost support being the main factors.

• PVC prices declined
• supply is at a high level
• demand recovery is slow
• exports are under pressure.

In February, the price of polyester bottle chips first fell and then rebounded, weakening again at the end of the month The average monthly price was 6,230 CNY/ton, up 127% month-over-month The cost side was affected by the decline in crude oil and raw material PTA/MEG prices, leading to a contraction in factory profits Supply was tight, but demand was weak, with downstream resumption of work being slow and cautious purchasing

• Polyester bottle chip prices
• cost support weakens
• downstream resumption of work is slow
• futures lead the decline in spot prices

From February 23 to 28, the price of Chinese polymeric MDI increased by 286% to 14,400 CNY/ton Companies such as BASF and Covestro raised their MDI prices, and major Chinese manufacturers also increased their March quotations, leading to a follow-up increase by traders The supply is normal, and the cost of pure benzene fluctuates, with aniline prices rising by 339% Demand is entering the market as needed, and the market is gradually recovering

• Polymeric MDI
• market price
• supply side
• demand side

In February, the DOP price in China fluctuated and fell by 3.95% to 7,700.84 CNY/ton, mainly due to the decline in the prices of raw materials such as 2-ethylhexanol and phthalic anhydride, leading to a reduction in costs. At the same time, the operating rate of enterprises dropped to 57-60%, with weak demand. It is expected that the DOP price will remain weak and consolidate in the future.

• DOP prices have fallen
• plasticizer costs have decreased
• both supply and demand have declined
• isooctanol prices have dropped.

In February, the overall price of maleic anhydride in China increased, with the average price rising from 5262.50 CNY/ton to 5300.00 CNY/ton, a price increase of 0.71%. In the early part of the month, prices fell due to reduced demand, but after the holiday, as the auction price of Wanhua increased and downstream operations gradually resumed, the maleic anhydride market received support. It is expected that the maleic anhydride market may continue to rise in the near future.

• Maleic anhydride market
• price increase
• supply situation
• upstream and downstream analysis

In February 2026, the butadiene market in China fluctuated downward, with prices falling from 10,533.33 CNY/ton to 10,026.67 CNY/ton, a price decrease of 4.81%. Affected by supply and demand dynamics, cost fluctuations, and geopolitical factors, the supply side tended to be more relaxed, while demand was weak. It is expected that the market in March will remain weak and stable with slight warming.

• Butadiene market
• supply and demand game
• cost fluctuation
• weak oscillation