ECHEMI Analysis

In late April, the PP market in China experienced a slight decline after a period of high volatility, with price levels increasing by 0.18% compared to the beginning of the month. The support from raw material costs has weakened, and while supply has increased somewhat, demand remains cautious. It is expected that PP prices may still have room for further declines, and attention should be paid to international crude oil prices and maritime shipping conditions in the Middle East.

• PP market conditions
• cost support
• supply recovery
• demand in a wait-and-see stance

In April, the hydrogen peroxide market in China saw prices rise from 796 CNY/ton at the beginning of the month to 1033 CNY/ton on the 21st, due to tightening supply and increased demand The price increase was driven by purchases from northern propylene oxide companies, increased production at caprolactam plants, and concentrated procurement in downstream industries

• Hydrogen peroxide market
• supply tightening
• demand support
• price forecast

Recently, the price of lithium carbonate has risen, with the benchmark price for battery-grade lithium carbonate reaching 170,000 CNY/ton, a 1333% increase from the previous period and a 143% increase year-over-year Multiple disruptions in the supply chain and a recovery in demand have jointly pushed up prices Factors such as the export ban in Zimbabwe, concerns over diesel supply in Australia, and the shutdown of mines in China have heightened market expectations of a supply contraction

• Lithium carbonate prices
• supply-side disruptions
• demand recovery
• tight supply-demand balance

This week, the market price of propylene oxide in China has significantly declined, mainly due to the excessively high price increase earlier, oversupply, and weak demand from downstream sectors As of April 21, the benchmark price of propylene oxide dropped to 11,100 CNY per ton, a decrease of 976% compared to the beginning of the month

• The propylene oxide market is declining
• supply exceeds demand
• downstream demand remains weak
• cost support is questionable.

On April 21 at 24:00, China's retail prices for finished oil products saw their first reduction of the year, with gasoline and diesel each being reduced by 555 yuan and 530 CNY per ton, respectively. Due to the decline in international oil prices and weak demand, the crude oil change rate dropped to -12.1%. In the short term, the finished oil market is expected to be mainly characterized by fluctuations.

• Refining product price adjustments
• crude oil prices decline
• gasoline and diesel prices cut
• geopolitical impacts

On April 21, 2026, the average price of quasi-first-grade metallurgical coke was 1,535 CNY per ton. As steel companies replenish their inventories and demand for coke increases, prices have stopped falling and stabilized. Following the second round of price hikes, market prices have generally risen by 100 to 120 CNY per ton. In the short term, coke prices are expected to remain volatile, influenced jointly by ample supply and gradually increasing demand.

• Coke prices
• market demand
• steel industry
• price trends

Since April, the Chinese polyester staple fiber market has been fluctuating downward, with the average price dropping to 8,106 CNY per ton International crude oil prices have fallen, and the PTA maintenance season has led to a reduction in supply However, downstream demand is weak, and the terminal textile industry is in the off-season Analysts expect that PTA supply will continue to decrease, and costs will be supported, but the demand side remains cautious

• Polyester staple fiber
• PTA maintenance
• crude oil prices
• off-season for textiles

From April 13 to 20, 2026, the toluene market price in China fell significantly by 93%, mainly due to weaker crude oil prices, ample supply, and sluggish demand The cost support weakened, the supply was abundant, and the demand for purchases was weak, leading to a quiet market with low trading activity

• Toluene Market
• Cost Pressure
• Supply-Demand Relationship
• Impact of Crude Oil Prices

Recently, the price of formic acid has shown a weak and stable trend As of April 20th, the benchmark price for 85% industrial-grade formic acid in China was 2,800 CNY per ton, remaining unchanged from the previous period, but down 1765% year-over-year Although supply is sufficient, there is a lack of upward momentum Demand is weak, and manufacturers have lowered their quotes to cope with the May Day holiday and inventory pressure

• Formic acid prices
• adequate supply
• weak demand
• prices maintaining a weak stability trend

From April 13 to 20, the price of MTBE fell from 6740 CNY/ton to 6387 CNY/ton, a decrease of 5.24%. Affected by the decline in international crude oil prices and weak demand, the market showed a fluctuating downward trend. It is expected that the MTBE market in China will continue to decline.

• MTBE market: prices decline
• demand is weak
• supply increases.

This week, the spot market for PTA in East China rose slightly by 4.12%, mainly due to reduced supply. Industry-wide concentrated maintenance led to a load reduction to 70%. Although demand is weak due to the off-season for textiles, the continuous contraction of supply and expected cost support are likely to boost prices. In the future, attention will be on plant maintenance, inventory changes, and the situation in the Middle East.

• PTA supply is tightening
• cost-side support
• textile off-season
• plant maintenance progress

This week, the polyester bottle chip market in China showed a fluctuating upward trend, with prices rising from 8,450-8,550 CNY/ton at the beginning of the week to 8,600-8,750 CNY/ton by the end of the week The main driving factors were strong support from the cost side (high and volatile crude oil prices, PTA maintenance) and tight supply, but weak demand limited transactions

• Polyester bottle flakes
• price fluctuations
• cost support
• tight spot supply

In the first half of April, the Chinese dichloromethane market showed a trend of rising and then falling due to increased costs and weak demand. As of April 17, the price of dichloromethane in Shandong region had decreased by 6.2% compared to the beginning of the month. It is expected that the market will mainly undergo high-level fluctuations with limited room for both increases and decreases.

• Cost-driven increase
• weak demand
• volatile consolidation
• inventory pressure

This week, the pure benzene market price in Shandong region of China increased from 8,436.67 CNY/ton to 8,626.67 CNY/ton, a price increase of 2.25%. International crude oil futures closed higher, supporting market confidence in pure benzene. In the short term, the pure benzene market in China is expected to operate with a strong and volatile trend, and it is necessary to pay attention to the trends of crude oil, foreign markets, and changes in demand.

• Pure benzene price
• market analysis
• crude oil futures
• chemical raw materials

This week, the caustic soda price in China showed a weak trend At the beginning of the week, the average market price was 738 CNY/ton, and by the end of the week, it had dropped to 724 CNY/ton, a decrease of 19% The quoted prices in Shandong, Zhejiang, and Inner Mongolia were 650-760 CNY/ton, 1000-1050 CNY/ton, and 2200-2300 CNY/ton (converted to 100%), respectively Although supply has increased, inventory clearance is not significant

• Caustic soda prices
• market analysis
• inventory pressure
• downstream demand

This week, the styrene market in China showed a weak fluctuation trend, with prices slightly decreasing from 10,140 CNY/ton at the beginning of the week to 10,120 CNY/ton by the end of the week, resulting in an overall price decrease of 0.2%.

• Styrene Market
• Price Decline
• Chemical Products
• Market Analysis

This week, the price of anhydrous hydrogen fluoride remained high and stable, with the benchmark price of hydrofluoric acid at 15,100 CNY per ton, up 2.95% from the beginning of the month. The prices of raw materials, sulfuric acid and fluorspar, remained high and stable, with the price of sulfuric acid increasing by 32.91%. Downstream refrigerants have entered the peak production season, with good demand but cautious purchasing, resulting in average market transaction volumes.

• hydrofluoric acid
• prices remain high and stable
• supported by raw material costs
• downstream demand is steady

The propylene oxide market in China shows a differentiated pattern of short-term low, medium-term medium-high, and long-term high. In the short term, the upward momentum has weakened, and prices have entered a phase of high-level fluctuation with a weaker trend; in the medium term, the trend remains strong, but the upward momentum is exhausted; in the long term, prices are at a high level compared to the past year, with limited room for rebound.

• Propylene oxide
• market price
• short-term low
• medium-to-high in the medium to long term

This week, the market price of Aniline in China rose slightly from 11,362 CNY/ton to 11,662 CNY/ton, a price increase of 2.64%. The market trading was stable, with good inventory reduction, and the supply and demand sides supported the price increase. The price range of benzene fluctuated, and it is expected that Aniline will maintain a high-level consolidation in the future.

• Aniline Market: Price Increase
• Changes in Supply and Demand
• Cost Analysis

This week, the butanol market in Shandong, China, has been operating weakly, with prices falling from 8,666 CNY/ton to 8,600 CNY/ton, a decrease of 0.77%. The cost of propylene, a key input, has dropped, leading to a weakening of cost support. Market demand is moderate. It is expected that the market will remain weak and volatile in the short term, with a risk of further declines.

• Butanol prices have fallen
• cost support has weakened
• market transactions are moderate
• the market is operating weakly.