ECHEMI Analysis

From January 1st to 27th, the Chinese natural rubber spot market experienced a fluctuating upward trend, with the price of spot rubber increasing from 14,933 CNY/ton to 15,941 CNY/ton, a price increase of 675% The rise in prices was driven by tight raw material supply and pre-Chinese New Year restocking by downstream buyers, although the increase in inventory had a slightly negative impact on the market

• Natural rubber
• market analysis
• rising inventory
• post-Spring Festival restocking

At the end of January, the Chinese PC market showed a fluctuating upward trend, with spot prices increasing. The bisphenol A market saw a significant rise, and cost support strengthened. The supply side remained generally stable, while the demand side showed limited improvement. It is expected that the PC market will undergo some consolidation in the short term.

• PC market
• Bisphenol A
• supply and demand
• price trends

Recently, the EVA market in China has seen a slight increase, with the benchmark price rising from 9,766 CNY/ton to 10,150 CNY/ton, a price increase of 3.92%. Pre-holiday restocking by downstream factories has supported demand, but the supply remains loose. In terms of costs, the price of ethylene has slightly decreased, while the price of vinyl acetate has increased. It is expected that the EVA spot market will mainly consolidate weakly before the holiday.

• EVA market conditions
• downstream restocking
• cost support
• weakening demand ahead of the Spring Festival

The dichloromethane market, supported by a contraction in supply and rising costs, has seen prices stabilize and strengthen The main production facilities have reduced their load, leading to a decline in operating rates, with healthy inventory levels The cost of raw materials, such as methanol and liquid chlorine, has increased, putting significant pressure on companies' profitability On the demand side, purchases are mainly driven by rigid demand, which limits the room for price increases

• Supply contraction
• cost support
• narrow-range fluctuations
• weak demand

In January, the hydrogen peroxide market in China showed a weak downward trend, with a price decrease of over 12%, falling from 776 CNY/ton at the beginning of the month to 676 CNY/ton. Due to weak terminal demand and high supply pressure, the hydrogen peroxide market remained sluggish, and it is expected to continue to operate under pressure.

• Hydrogen peroxide market conditions: prices are falling
• supply pressure
• weak demand

Recently, the price of lithium carbonate has continued to rise, with the benchmark price for battery-grade lithium carbonate reaching 16,900 CNY/ton, a 9% increase from last week. The supply side is expected to tighten due to policy constraints in the Jiangxi production area, while the demand side is supported by policy incentives and strong energy storage orders. The market's acceptance of high prices is limited, and future attention should be paid to changes in supply and demand.

• Lithium carbonate prices rise
• expectations of supply contraction
• policy dividends on the demand side in China
• market divergences intensify.

The cyclohexane market remains stable in price due to low operating rates in downstream industries such as synthetic fibers and engineering plastics, weak demand, and high inventory levels. Although demand in Southeast Asia and the Middle East has been growing relatively rapidly, the increase in orders has been limited and has not fully offset the impact of weak demand in China. In the short term, cyclohexane prices are expected to continue their current trend.

• Cyclohexane market: weak downstream demand
• inventory pressure
• and growing export markets.

In January, palm oil prices rebounded and fluctuated higher, with an increase exceeding 5%. Prices rose from 8,564 CNY per ton at the beginning of the month to 9,000 CNY per ton. The reduction in production in Malaysia led to a decline in supply but boosted exports. Coupled with increased demand ahead of the Spring Festival, these factors jointly drove up prices. However, analysts predict that demand will weaken after the holiday, potentially causing prices to soften.

• Palm oil market conditions: Supply declining
• futures providing support
• demand during the Spring Festival.

Recently, PTA prices rebounded to 5,341 CNY/ton, up 663% On the cost side, spring maintenance at PX plants has led to tight supply, while the expansion of capacity in the downstream polyester industry is boosting demand Additionally, increased maintenance activities at PTA plants themselves, coupled with no new capacity coming online, have improved the supply-demand balance

• PTA market conditions
• cost support
• tight supply
• polyester capacity expansion

Recently, the polyester staple fiber market has seen a slight rebound, with the average price reaching 6,587 CNY per ton on January 26, up 219% from January 20 On the cost side, supply of PX and PTA remains tight, driving their prices up by 5% and 663%, respectively In terms of demand, overseas orders have performed relatively well, while the domestic sales market has entered the off-season

• Polyester staple fiber
• favorable cost factors
• tight PX supply
• increased PTA maintenance shutdowns

At the beginning of 2026, the market price of butadiene rubber increased significantly. As of January 26, the price in the East China region reached 12,930 CNY per ton, an increase of 11.66% from the beginning of the month. The cost of butadiene, a key raw material, rose by 28.80%, and tight supply pushed the market higher. A slight increase in tire production in China supported the market. It is expected that butadiene rubber will remain at high levels in the later period.

• Butadiene rubber
• Market conditions
• Butadiene
• Tire operating rate

Recently (11~126), the SBR (styrene-butadiene rubber) market in China has seen a significant increase, with prices in East China rising to 12,883 CNY/ton, a 1130% price increase In terms of costs, the prices of butadiene and styrene have increased by 2880% and 1470% respectively, providing strong support for SBR

• Styrene-butadiene rubber
• market conditions
• cost support
• tire production start-up

At the end of January, the Chinese ABS market continued to rise, with an average price of 8,85000 CNY/ton, up 727% year-on-year The operating rate on the supply side slightly decreased to 67%, and the weekly output dropped to 142,000 tons On the cost side, the prices of the three raw materials showed two increases and one decrease, providing overall strong support Demand was moderate, with increased resistance to high-priced goods

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

Recently, the price of formic acid has slightly rebounded As of January 26, the benchmark price for 85% industrial-grade formic acid in China was 2,350 CNY per ton, an increase of 217% from last week The price increase is supported by supply-side measures such as production cuts to maintain prices and anticipated maintenance, but demand remains weak In the short term, the market will maintain a sideways consolidation trend

• Formic acid prices
• tightening supply
• maintenance schedules
• subdued demand

In January, the price of adipic acid in China continued to rise, increasing from 7,133 CNY/ton at the beginning of the month to 7,633 CNY/ton on the 26th, with a price increase of 7.01%. This was mainly due to the rise in raw material prices and the boost from downstream inventory preparation. However, analysts expect that the market may face downward pressure after the Spring Festival.

• Adipic acid market conditions: Prices are rising
• cost support
• inventory-building demand is driving the market.

After the New Year's Day of 2026, the Chinese acetone market showed a strong upward trend, with prices rising from 4,057 CNY/ton to 4,750-4,800 CNY/ton, a price increase of 18.3%. Stable supply, cost support, and growing demand have improved market sentiment, leading to a phased turnaround in the industry.

• Acetone Market
• Rising Prices
• Supply-Demand Relationship
• Cost Support

On January 23, international crude oil futures prices jumped nearly 3% amid supply disruptions, including the escalation of US sanctions against Iran and the shutdown of oil fields in Kazakhstan WTI crude oil rose to $6107 per barrel, while Brent crude oil climbed to $6507 per barrel A short-term cold snap has also affected US crude oil production, though output has the potential to rebound in the future

• Geopolitics
• supply disruptions
• rising oil prices
• U.S. sanctions on Iran

This week, factories in East China reduced their load, and the facilities of Silongbang and Jihua were shut down for maintenance, leading to a decrease in supply. Downstream users have been stocking up moderately, increasing demand. The acrylonitrile market has hit bottom and is undergoing consolidation, with prices fluctuating slightly. The rise in costs has led to increased production losses. It is expected that the market will rise later, but the room for rebound is limited.

• Supply cuts
• rising demand
• increasing costs
• market bottoming out and consolidating.

This week (119-23), the PVC spot market in China stopped falling and started to rise, with the average price of calcium carbide method SG-5 type at 4,560 CNY/ton, an increase of 222% within the week The atmosphere for price hikes on the supply side has gradually strengthened, with a slight decrease in operating rates, an increase in trading volume, and continuous inventory reduction On the cost side, the price of calcium carbide rebounded, increasing by 079% within the week

• PVC market
• price rebound
• improvement in supply and demand
• increase in calcium carbide cost

This week (2026.01.16-01.23), the polyester bottle chip market first declined and then rebounded, with both futures and spot prices rising in tandem. Strong cost support, tight supply, and the positive sentiment from futures driving spot prices led to the increase. As of January 23rd, the mainstream spot price in East China was 6,340-6,400 CNY/ton. It is expected that the short-term price will remain strong, operating within the range of 6,300-6,500 CNY/ton.

• Polyester bottle flakes
• prices are rising
• supply is tight
• cost support