September 30th News
In September 2026, the Chinese acetone market experienced a strong upward trend, characterized by a "low recovery at the beginning of the month and a slight adjustment at high levels at the end of the month." The overall price increase was significant, reaching a new high for the year. Data shows that at the beginning of the month, the benchmark price of the Chinese acetone market was around 7,225 CNY/ton. Throughout the month, prices continued to rise, with the mainstream market price in East China peaking at 9,300-9,350 CNY/ton, setting a five-year high. By the end of the month, the market saw a slight decline, with the mainstream quotation stabilizing in the range of 8,750-8,800 CNY/ton. The overall price increase for the month exceeded 20%, and the trading atmosphere in the market was generally warm.
This month, the acetone market in China saw a significant upward trend, primarily due to the combined effects of tightened supply, rebounding demand, and cost support. The supply side was the key factor driving the price increase. In September, multiple phenol and acetone plants in China underwent maintenance and operated at reduced loads. Some major facilities in Shandong and North China suspended external sales, leading to a substantial reduction in the available spot supply. Market inventories of spot goods were low, and the tight supply situation continued to support rising prices. Additionally, the volume of imported cargoes arriving this month was relatively low, with limited external supply, further exacerbating the tight supply situation in China.
Demand-side recovery is gaining momentum, providing solid support for the market’s upward trajectory. The traditional “Golden September” peak season for the chemical industry is clearly evident, with downstream sectors such as bisphenol A, MMA, and solvents seeing steady increases in operating rates. End‑user factories are actively replenishing inventories, driving a surge in rigid‑demand procurement. Pre‑Mid-Autumn Festival restocking demand has been concentratedly released, significantly boosting trading activity; traders remain firmly committed to maintaining prices, leading to a steady rise in spot transaction prices and pushing the overall market equilibrium higher. On the cost side, international crude oil and benzene prices have remained volatile but generally firm throughout the month, underpinning the acetone market. Coupled with prolonged losses at phenol‑acetone producers, manufacturers are strongly inclined to hold prices, effectively limiting downside pressure.
As the month comes to an end, the market sentiment gradually cools down, with signs of a high-level correction appearing, and the struggle between bulls and bears intensifies. The overall market in China is expected to show a stable but slightly adjusted pattern. The pressure on the supply side is gradually increasing, as phenol and acetone plants that were under maintenance are resuming production one after another, and the amount of goods for external sales is steadily increasing. Coupled with the concentrated arrival of imported cargoes after the holiday, the supply in the Chinese market will gradually become more relaxed, alleviating the previous tight supply situation. The cost-side benefits have weakened somewhat, with expectations of a downward trend in the crude oil market, leading to a gradual decrease in the support from raw materials, which will put some pressure on the price of acetone.
From the demand side, after the holiday, the restocking demand in the terminal market is coming to an end. Downstream factories are mainly purchasing according to their needs, and the concentrated inventory replenishment trend has faded. The support from rigid demand has weakened, making it difficult to sustain high prices. Overall, the acetone market lacks the momentum for a continuous rise in the short term. However, companies still have the intention to maintain prices, limiting the space for a significant drop. It is expected that the post-holiday market will mainly see a high-level consolidation with minor adjustments, with the mainstream price likely to fluctuate within the range of 8,500-8,900 CNY/ton.
