ECHEMI Analysis

This week, the price of polyester bottle chips showed a "roller coaster" wide fluctuation, mainly driven by the cost end The prices of crude oil and raw materials PTA and MEG fluctuated significantly, causing PET prices to rise and fall rapidly The supply and demand side performed weakly, with increased supply and weak demand, cautious market sentiment, and clear divergence between bulls and bears

• Cost-driven
• wide range fluctuation
• weak supply and demand
• cautious market sentiment

This week, the caustic soda price remained firm, with the market average price increasing from 710 CNY/ton to 730 CNY/ton, a price increase of 282%, and a year-on-year decrease of 2039% The quoted prices in Shandong, Zhejiang, and Inner Mongolia were 690-820 CNY/ton, 1000-1020 CNY/ton, and 2200-2300 CNY/ton (converted to 100%), respectively

• Caustic soda prices
• market conditions
• alumina demand
• chlor-alkali index

This week, TDI market prices in the East China region rose to a high level, with a weekly increase of 3.65%, and the average price reached 18,933 CNY per ton. BASF raised the prices of MDI and TDI products, and tight supply in China supported market confidence. Supply remained at a medium to high operating rate, while costs were affected by fluctuations in crude oil prices. It is expected that TDI prices will remain at a high level in the short term.

• TDI market
• price increases
• tight supply
• rising costs

From March 20 to 27, the BDO price in China increased from 7,900 CNY/ton to 8,157 CNY/ton, a price increase of 3.25%. The supply is tight, and the cost pressure is high. The increase in downstream demand has pushed the market to continue fluctuating upward. It is expected that the market will mainly consolidate after the rise.

• BDO market: Prices are fluctuating and trending upward
• supply is tight
• cost pressures are increasing.

In March 2026, the price of ethylene oxide surged by 52.73%, rising from 5,500 CNY/ton at the beginning of the month to 8,400 CNY/ton. The main drivers included a sharp increase in costs, reduced supply, growing demand, and market control by leading companies. It is expected that the price in April will remain between 7,500-8,200 CNY/ton, with a smaller fluctuation range.

• Ethylene oxide
• price increase
• rising costs
• tight supply

Since mid-March, influenced by multiple factors—including weakening costs, shrinking supply, and weak demand—the PTA market has entered a phase of corrective pullback The sharp drop in international crude oil prices has undermined the cost support for PTA; meanwhile, China’s supply side has tightened somewhat due to planned maintenance, yet weak downstream demand has constrained the room for price increases

• PTA market
• weakening costs
• weak demand
• shrinking supply

This week, the polyethylene prices first increased and then decreased, but still remained at a high level The average prices of LLDPE, LDPE, and HDPE increased by 222%, 341%, and 738% respectively The cost side was supported by international oil prices, while the supply decreased due to plant maintenance and import disruptions Demand improved but remained weak The sentiment in the futures market amplified the rise in spot prices

• Polyethylene prices
• cost support
• supply contraction
• demand recovery

At the end of March, China's ABS market was operating at a high level, with an average price of 12,000 CNY/ton, an increase of 34.43% from the beginning of the month. The supply side was stable but slightly weak, with strong support from cost factors, but the demand side fell short of expectations, and downstream enterprises operated at a moderate level. In the future, attention should be paid to international crude oil and Middle East shipping conditions.

• ABS market
• cost factors
• supply levels
• demand conditions

In March, the hydrogen peroxide market in China fluctuated and rose, with a price increase of over 31%, from 600 CNY/ton at the beginning of the month to 790 CNY/ton on the 26th. Affected by the situation in the Middle East, transportation costs increased, coupled with tight supply and improving terminal demand, which supported the price increase. Analysts expect that due to the tight supply, prices will continue to rise.

• Hydrogen peroxide market conditions: prices rising
• supply tightening
• terminal demand improving.

On March 26, 2025, the coke market price remained stable, with an average price of 1,391 CNY per ton. The metallurgical coke prices in Jingdezhen, Yichun, Handan, and Jinzhong remained unchanged, with a moderate market trading atmosphere and high inventory levels. It is expected that in the short term, the focus of negotiations in the coke market will remain stable, with prices mainly holding steady.

• Coke market: prices stable
• cost support weakening
• inventories remain high.

Palm oil prices strengthened in March, with prices oscillating and rising by 7.78%. Lower production in southern Malaysia, robust growth in exports, coupled with a boost from the futures market and increased demand during the back-to-school season, all contributed to the upward trend. Prices are expected to remain at high levels in April as well.

• Palm oil market conditions: supply declining
• demand increasing
• futures prices rising.

As of March 25, the average price of premium DMF in China rose to 5,480 CNY/ton, reaching the highest level of the year The increase was mainly due to short-term supply and demand improvements and market sentiment Demand for polyurethane synthetic leather decreased, while demand for pharmaceutical and pesticide intermediates steadily increased, with electronic chemicals becoming the largest growth point

• DMF Market
• Price Trends
• Demand Analysis
• Future Market Forecast

As of March 25, the average price of industrial-grade premium cyclohexane in China was 7,400 CNY per ton The market supply and demand are relatively balanced, and it is expected to remain stable with minor adjustments in the short term The downstream industries have low operating rates, and demand is recovering slowly The supply is ample, resulting in an overall situation of "supply exceeding demand and high inventory levels

• Cyclohexane market
• prices stable
• supply and demand balanced
• downstream demand recovering slowly

In March 2026, the market price of polybutadiene rubber in China surged by 33.90%, reaching 17,420 CNY per ton, mainly driven by the increase in butadiene costs and expectations of tighter supply. Although downstream tire demand is gradually increasing, high prices have suppressed some demand, and the market is expected to remain at a high level with fluctuations in the short term.

• Butadiene rubber
• cost increase
• supply tightening
• high-level fluctuation

In March 2026, the price of styrene-butadiene rubber in China increased significantly by 33.29% to 17,516 CNY per ton. This was mainly due to the geopolitical conflicts in the Middle East, which pushed up the costs of crude oil and raw materials, as well as the reduction in production or maintenance of some facilities, leading to a tight supply. It is expected that the market will remain at a high level with fluctuations in the short term.

• Styrene-butadiene rubber
• market rise
• rising costs
• tight supply

In March, the dichloromethane market in China experienced a "rollercoaster" trend, significantly influenced by the price fluctuations of methanol and liquid chlorine raw materials In the early part of the month, prices surged to 3,265 CNY/ton due to increased costs, then fell back to 2,175 CNY/ton in the middle of the month, and slightly recovered to 2,385 CNY/ton in the latter part The supply-demand contradiction was evident, with a coexistence of ample supply and weak demand

• Cost-driven
• market volatility
• supply-demand contradiction
• raw material fluctuations

On March 24, the price of titanium dioxide in China rose to 14,540 CNY/ton, an increase of 069% from the previous day Due to the rise in the price of upstream sulfuric acid, production costs for manufacturers have increased The leading enterprises have issued a third notice to raise prices, with a cumulative increase of 2,000 CNY/ton (in China) and 350 US dollars/ton (internationally) this month Market quotations are chaotic, and some manufacturers have suspended quotations

• Titanium dioxide
• market price
• cost pressure
• price increase

Recently, the price of acetic acid in China has continued to rise, with the average market price increasing from 3,093.33 CNY/ton to 3,443.33 CNY/ton, a price increase of 11.31%. Due to tight supply, strong demand, and the rise in the price of methanol, a key raw material, the cost of acetic acid has increased, leading to a strong market performance. It is expected that the acetic acid market will remain at a high level in the short term.

• Acetic acid market
• price increase
• methanol costs
• acetic anhydride trends

March adipic acid prices in China rose overall, increasing from 8,300 CNY/ton at the beginning of the month to 10,433 CNY/ton on the 24th, a price increase of 25.7%. This was mainly due to cost support, especially the rising prices of pure benzene and cyclohexanone. Although costs moderated in the latter part of the month, the market remained quiet due to weak demand downstream. Analysts expect further price increases in April.

• cost support
• rising market prices
• supply side
• demand side

As of March 24, the average price of DMF in China was 5,440 CNY/ton, with the market showing a stable and slightly strong trend The rise in the price of raw material methanol has led to an increase in costs, and the supply and demand are relatively tight, but high prices have suppressed speculative purchases The total capacity is 1,770,000 tons/year, with an operating rate of about 40% Weak downstream demand and strong exports are supporting the market

• DMF market
• price trends
• cost support
• export-driven