ECHEMI Analysis

In April, the PP market in China experienced high-level fluctuations, with prices showing both increases and decreases. The support from raw material costs has somewhat loosened, while the supply side, due to concentrated maintenance by enterprises, has provided stronger support for spot prices. Overall, the demand side has taken a wait-and-see attitude, performing below expectations. Market forecasts suggest that there is insufficient upward momentum, and the market may continue to consolidate.

• PP market
• concentrated maintenance
• cost decline
• fluctuating operation

In April, the price of PC in China fell by 2.11%, mainly due to the decline in the price of upstream bisphenol A, which weakened cost support, despite a contraction in supply, but weak demand. It is expected that in the short term, the PC market will still be under pressure, with room for further declines. Technical indicators show significant resistance to an upward trend.

• PC market
• price decline
• reduced supply
• weak demand

In April, the Chinese ABS market first rose and then fell. The supply side saw concentrated maintenance, but the overall supply was sufficient. The costs of the three materials all decreased, and downstream demand was weak, leading to inventory accumulation. Technical analysis shows that a short-term price consolidation trend has formed. It is recommended to pay attention to international crude oil and Middle East shipping conditions.

• ABS market
• declining costs
• weak demand
• ample supply

In April, the asphalt market in Shandong first declined then rose. The tight supply will continue to support prices, while the cost side remains uncertain due to fluctuations in international oil prices. Demand is gradually recovering but with limited strength. It is expected that the market will show a strong fluctuation trend in the future. Attention should be paid to the situation between the United States and Iran, the trend of crude oil, and the operating conditions of refineries.

• Asphalt Market
• Supply-Demand Dynamics
• Cost Support
• Demand Recovery

In April 2026, the market price of pure benzene in Shandong region fluctuated and rose, increasing by 0.97% at the end of the month compared to the beginning. The rise in international crude oil futures and benzene futures prices boosted market confidence. Sinopec adjusted the price of pure benzene to 8,850 CNY per ton. It is expected that the market will maintain a strong fluctuation trend in the short term, and attention should be paid to changes in crude oil, foreign markets, and demand.

• Pure benzene price
• market analysis
• crude oil futures
• future market forecast

In April, the caustic soda prices in China were weak, with the average price at the beginning of the month decreasing from 738 CNY/ton to 628 CNY/ton by the end of the month, a price decrease of 14.91%. Prices in Shandong and Zhejiang regions declined, while prices in Inner Mongolia remained stable. Despite an increase in supply, demand did not improve, leading to significant inventory pressure for enterprises. It is expected that the market will continue to operate weakly.

• Caustic soda prices
• market trends
• supply-demand relationship
• inventory pressure

In April, the Chinese toluene market first declined and then rose, with a significant overall drop, accumulating a 14.4% decrease. The cost support was weakened by the decline in crude oil prices, with ample supply and weak demand downstream. It is expected that the market will experience narrow fluctuations in May, and attention should be paid to the trend of crude oil and the recovery of downstream demand.

• Toluene market
• crude oil prices
• supply-demand relationship
• cost support

In April, the overall trend of maleic anhydride in China was downward, with the average price falling from 8,550 CNY/ton to 7,862.5 CNY/ton, a decrease of 8.04%. The supply showed a "high at the beginning and low at the end" pattern, and weak demand from downstream sectors put pressure on prices. It is expected that the trend of maleic anhydride in May will still be weak and fluctuating.

• Maleic anhydride market
• Changes in market supply
• Impact of upstream and downstream markets
• Price trend forecast

In April, the DMF market price in China first increased and then decreased At the beginning of the month, prices rose due to plant maintenance and a rebound in demand However, as supply increased and demand growth weakened, prices began to decline The price fluctuation of the main raw material, methanol, was significant, while liquid ammonia remained relatively stable

• DMF price trends
• changes in market supply and demand
• impact of raw material costs
• downstream demand analysis

In April, the Chinese MIBK market was at a high level with prices slightly retreating to 12,266.67 CNY/ton. Supply was stable, but demand was weak, and cost support was limited. It is expected that in the short term, prices will fluctuate between 8,000 and 12,500 CNY/ton, with a long-term outlook for steady growth.

• MIBK market: trading in a narrow range at high levels
• supply and demand in a tug-of-war
• cost support is limited.

In late April, the price of petcoke from local refineries in China fell significantly by 8.15% to 3,151.75 CNY per ton. Due to the stagnation of US-Iran talks, international oil prices rose. Chinese refineries lowered their quotes due to poor sales, and downstream buyers were cautious, leading to insufficient market support. It is expected that during the upcoming low-demand season, prices will remain at a low level with fluctuations.

• Local refinery petroleum coke
• declining market conditions
• inventory pressure
• low-level oscillating trend

April saw the petcoke market of local refineries in China first rise and then fall, with an overall increase of 30.87%. The cost of fuel oil decreased, and the supply side saw a price drop due to maintenance and inventory pressure. On the demand side, the electrolytic aluminum industry had insufficient purchases. It is expected that the market activity in May will be moderate, with prices fluctuating within a range.

• Petroleum coke from local refineries
• market analysis
• cost-related impacts
• supply-demand dynamics

In April, the marine fuel market in East China saw a significant decline, with the average price of 180CST fuel oil falling by 7.56%. International crude oil prices fluctuated downward before rebounding, and Singapore's fuel oil inventory decreased. It is expected that in May, the marine fuel prices will enter a phase of consolidation driven by cost support and a recovery in demand.

• Marine fuel market
• fuel oil prices
• international crude oil trends
• peak shipping season

As of April 30, 2026, the average price of quasi-first-grade metallurgical coke stood at 1,560 CNY per ton Market supply and demand are in balance, and prices remain stable Steel mills show limited purchasing enthusiasm, prompting some coking enterprises to lower prices and launch promotional sales In areas such as Tangshan, Tianjin Port, and Qujing, coking coal prices remain stable or trend slightly stronger

• Coke market
• prices stable
• supply and demand balanced
• pessimistic outlook for the future

In April, the price of MTBE fell from 7,210 CNY/ton to 6,387 CNY/ton, representing a price decrease of 11.42%. Fluctuations in international crude oil prices are influencing market sentiment; while supply conditions remain favorable, demand remains weak. It is expected that MTBE prices will continue to decline in the near future.

• MTBE market
• price decline
• crude oil impact
• supply-demand relationship

In April, palm oil prices experienced volatile declines, with price drops exceeding 1%. Malaysia's ongoing production expansion cycle and weak export performance have weakened the underlying fundamentals. However, a price rebound is expected in May, with prices forecast to range between 9,700 and 10,000 CNY per ton. Anticipated El Niño conditions could impact second-half production.

• Palm oil market conditions
• supply-side influences
• weak demand
• energy support

In April, the polyethylene market in China showed a pattern of "rallying and then retreating, with a weak recovery at the end of the month." The prices of LLDPE, LDPE, and HDPE fell by 3.35%, 1.16%, and 1.27% respectively. The supply side first tightened and then loosened, while overall demand was weak. The cost was significantly affected by fluctuations in crude oil. In the short term, prices are expected to remain weak and volatile.

• Polyethylene market: prices decline
• weak demand
• cost support weakens.

In the second half of April, the price of polybutadiene rubber slightly decreased to 16,180 CNY/ton, a price decrease of 336% Due to the expectation of butadiene supply recovery and the decline in its price, cost support has weakened Chinese facilities are operating at low capacity, with an industry operating rate of about 45%, and demand remains at a necessary level

• cis-1
• 4-polybutadiene rubber
• butadiene prices
• cost support
• market conditions

In the second half of April, the Chinese dichloromethane market experienced a sharp decline, with prices in Shandong region falling to 2,035 CNY/ton, a decrease of 1719% from the beginning of the month The cost inversion has intensified, weak demand, export obstacles, high production levels, and inventory accumulation have led to a supply-demand imbalance

• Supply-demand imbalance
• cost inversion
• export bottlenecks
• high inventory pressure

On April 29, the average market price of pure benzene in China was 8,570 CNY per ton, an increase of 0.31% from the previous trading day. Affected by the rise in international crude oil prices, the price of pure benzene has slightly increased, and market confidence is good. In the short term, it is expected that the pure benzene market in China will maintain a range-bound fluctuation, and attention should be paid to the situation between the U.S. and Iran as well as the trend of raw materials.

• Pure benzene price
• market analysis
• international crude oil
• geopolitical impacts