ECHEMI Analysis

Recently, the prices of polyethylene have been operating weakly. The average prices of LLDPE, LDPE, and HDPE have decreased by 1.52%, 1.65%, and 0.77% respectively. With limited cost support, the expectation of increased supply, and the demand slowdown due to the Spring Festival holiday, the market is experiencing a dual weakness in supply and demand. Prices are expected to continue in a weak and fluctuating trend.

• Polyethylene
• prices decline
• both supply and demand are weak
• cost support is limited.

This week, the price of phthalic anhydride fluctuated and decreased, with the quotation on February 5th at 6,19333 CNY/ton, a price decrease of 143% In terms of costs, while the price of ortho-xylene stabilized, the price of industrial naphthalene fell, leading to a reduction in the cost of phthalic anhydride On the supply side, the operating rate of enterprises dropped to 61%, resulting in reduced production and a tightening of supply

• Phthalic anhydride price
• cost reduction
• supply contraction
• DOP price

In early February, influenced by the surge in crude oil prices and high raw material costs, the average market price of adipic acid in China increased from 8,066 CNY/ton to 8,333 CNY/ton, a price increase of 3.31%. The rise in demand for pre-holiday inventory pushed up the market, but analysts expect that a decline in demand after the holiday may lead to a drop in prices.

• Adipic acid market
• Raw material prices
• Spring Festival inventory preparation
• Market forecast

In the first week of February 2026, the n-butanol price in Shandong region fell from 6,663 CNY/ton to 6,533 CNY/ton, a decrease of 1.95%. The supply and demand situation is loose, with weakened downstream demand. Major producers have lowered their quotations, leading to a weaker market trend. It is expected that the price will remain weak and consolidate before the holiday.

• Butanol market
• price reduction
• supply and demand balance
• market forecast

From February 1st to 5th, the average market price of ammonium sulfate in China increased from 1,153 CNY/ton to 1,160 CNY/ton, with a price increase of 0.58%. This week, the supply remained stable, and demand was good due to pre-holiday stockpiling. It is expected that the market price will continue to be strong in the short term.

• Ammonium sulfate market
• price trend
• supply and demand situation
• future market forecast

In January, the DOP price surged by 9.44%, mainly due to a decrease in supply and an increase in the prices of raw materials (2-ethylhexanol, phthalic anhydride). In February, as the operating rates of enterprises increased and the stockpiling for the Chinese New Year ended, the DOP price slightly declined. It is expected that the DOP price will remain weak and consolidate in the future.

• DOP prices
• demand for plasticizers
• rising raw material prices
• declining supply

In January, the price of 2-ethylhexanol in China surged by 13.93% to 7,880 CNY per ton, mainly due to the rise in propylene costs and increased demand. At the beginning of February, the price fell to 7,716.67 CNY per ton, a decrease of 2.07%. It is expected that the future price of 2-ethylhexanol will stabilize at a weak level, as cost support weakens while demand support remains.

• Isodecanol price
• propylene cost
• plasticizer DOP
• changes in market supply and demand

As of February 4, 2026, the spot price of melamine in China was 5712.5 CNY/ton, up 0.66% from the previous day. This small increase was mainly driven by short-term demand, but the weak upstream urea prices and excess midstream capacity limited the room for further price increases. Overall, the market still faces long-term pressure from oversupply, and this small increase is unlikely to be sustained.

• Melamine
• price fluctuation
• supply-demand relationship
• weak cost support

Recently, the price of lithium carbonate has shown a trend of first rising and then falling As of February 3rd, the price of battery-grade lithium carbonate is 147,000 CNY per ton At the beginning of the year, policy adjustments in China triggered a rush to export, pushing up lithium prices

• Lithium carbonate prices
• market regulation
• export tax rebate policies
• changes in supply and demand

In January 2026, the Chinese epichlorohydrin market showed a trend of "initial stability followed by an upward shift" At the beginning of the month, price fluctuations were limited In the middle and late part of the month, due to the rise in raw material prices, tight supply, and concentrated release of downstream demand, the average market price in East China rose from 11,925 CNY/ton to 12,600 CNY/ton, an increase of 862%

• Epoxy chloropropane market
• price trend
• supply and demand analysis
• impact of raw material costs

Recently, the market price of formic acid in China has stabilized at 2350 CNY/ton, showing a sideways consolidation trend On the supply side, due to the maintenance of a major plant in Liaocheng, the supply volume has decreased, but reasonable inventory levels have offset the supply gap On the demand side, procurement is mainly driven by rigid demand, with the operating rate of downstream industries being less than 60%, resulting in limited overall consumption capacity

• Formic acid prices
• supply and demand competition
• market stability
• impact of the Spring Festival holiday

This week, the acrylic acid market in China remained stable, mainly due to producers' intention to maintain prices. However, the cost side weakened slightly, and demand weakened as the Chinese New Year approaches, resulting in a fragile and weak balance in the market. In the short term, the market may continue to be in a stalemate, but after the holiday, attention should be paid to the resumption of downstream operations and inventory pressure, as there is a high risk of downward adjustment.

• Acrylic acid market
• cost-driven factors weakening
• demand shrinking
• impact of Chinese New Year

On February 3 at 24:00, China's retail oil prices were raised again, achieving the second consecutive increase of the year. International oil prices first rose and then fell, with the final crude oil change rate remaining positive within the cycle. Gasoline was increased by 205 CNY per ton, and diesel by 195 CNY per ton. In the short term, international oil prices are expected to maintain a volatile trend, with China's diesel demand weakening, while gasoline demand still has support.

• Refining product price adjustments
• rising oil prices
• supply-demand dynamics
• geopolitical situation

Since January, the price of hydrogen peroxide has continued to fall, dropping from an average market price of 776 CNY/ton at the beginning of January to 630 CNY/ton on February 2, a price decrease of 18.88%. Due to weak terminal demand and ample supply, it is expected that the price of hydrogen peroxide will continue to be under pressure and decline in the future.

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

In January 2026, the cyclohexanone market price in Shandong region increased by nearly 9%, with the factory price rising from 6,387 CNY/ton to 6,900 CNY/ton. Affected by the increase in benzene prices, plant maintenance leading to a reduction in supply, and increased pre-holiday stocking demand from downstream, the overall market showed a trend of initial stability followed by a rise and accelerated upward movement.

• Cyclohexanone market
• price increase
• changes in supply and demand
• cost support

In February, the market price of anhydrous hydrogen fluoride shifted upward, mainly supported by the increase in the prices of raw materials such as fluorspar and sulfuric acid. Although the demand for downstream refrigerants was stable and the purchasing enthusiasm was not high, the high cost of raw materials pushed up the prices. It is expected that the market will maintain a steady and slightly strong trend in the later period.

• Hydrofluoric acid market
• raw material costs rise
• demand is stable
• prices are steady with a slight upward trend.

In January 2026, the Chinese toluene market experienced a fluctuating upward trend, with prices rising from 5,170 CNY/ton to 5,450 CNY/ton, a cumulative increase of 5.42%. The main driving factors were cost support and pre-holiday inventory replenishment, but the weakening demand in the latter part of the month led to a narrowing of the price increase. It is expected that the market will maintain a high-level fluctuation in the short term.

• Toluene market
• cost support
• pre-holiday restocking
• high-level fluctuations

In January 2026, the price of n-butanol in Shandong, China, continued to rise, increasing from 5,633 CNY/ton at the beginning of the month to 6,663 CNY/ton at the end of the month, a price increase of 18.28%. Especially from January 25 to 31, the price increase for a single week was close to 10%. Multiple favorable factors supported the market, driving up prices.

• n-Butanol Market
• Price Increase
• Market Analysis
• Shandong Region

In January, the PP market in China rose, with prices of various grades significantly increasing by 8.91%. The cost support for raw materials was strong, and the overall operating rate on the supply side remained largely unchanged. Demand improved but may weaken as the Spring Festival holiday approaches. It is expected that the upward momentum of PP prices may be hindered in the future.

• cost support
• price increase
• supply-demand balance
• pre-holiday stocking

In January, the Chinese PC market experienced fluctuations, with spot prices showing mixed increases and decreases. By the end of the month, the benchmark price was approximately 12,966.67 CNY/ton, a decrease of 1.77% from the beginning of the month. The supply side remained generally stable, with cost support for raw materials such as bisphenol A strengthening. However, demand first showed strength but then weakened. It is expected that the short-term PC market will continue to consolidate.

• PC market: volatile performance
• cost support
• weak demand