ECHEMI Analysis

Polyethylene prices have been fluctuating at high levels, with average prices for LLDPE, LDPE, and HDPE rising by 019%, 078%, and 120%, respectively On the cost side, prices are strongly supported by the geopolitical tensions in the Middle East; however, weak terminal demand is limiting the room for further price increases On the supply side, increased plant maintenance in China, reduced imports, and a slow depletion of inventories are contributing to the situation

• Polyethylene prices: high-level fluctuations
• cost support
• weak demand

This week, the price of polyester bottle chips first surged and then fell back On Monday, driven by rising costs, tight supply, and a futures limit-up, the factory price of water bottle chips in East China soared from about 8,650 CNY/ton to over 9,200 CNY/ton From Tuesday to Friday, due to downstream resistance to high prices and a pullback in raw material costs, the price fell back to 8,407 CNY/ton

• Polyester bottle flake price fluctuations
• cost-side impacts
• supply-demand dynamics
• raw material price changes

This week, the caustic soda price remained firm, with the market average price increasing from 688 CNY/ton to 700 CNY/ton, a 1.74% price increase. In Shandong, Zhejiang, and Inner Mongolia, the prices for 32% ion-membrane caustic soda (converted to 100%) were 650-720 CNY/ton, 930-960 CNY/ton, and 2250-2350 CNY/ton, respectively. The rise in downstream alumina prices has driven the caustic soda market, and it is expected to remain firm in the later period.

• Caustic soda prices
• market analysis
• alumina
• chlor-alkali index

This week, the styrene market in China showed a fluctuating upward trend. The average price at the beginning of the week was 10,320 CNY/ton, rising to 10,610 CNY/ton by the end of the week, with an overall price increase of 2.81%.

• Styrene Market: Prices Fluctuate and Rise
• Weekly Price Increase
• Chemical Product Prices

This week, the price of sodium metabisulfite in China increased, with industrial-grade products rising from 2,486 CNY/ton at the beginning of the week to 2,583 CNY/ton by the end of the week, a price increase of 3.89%. The price of raw material sulfur rose by 4.33%, and the price of downstream caprolactam also increased, jointly driving up the price of sodium metabisulfite. It is expected that the price will maintain a strong and volatile trend in the short term.

• Sodium metabisulfite
• price trend
• chemical raw material
• market analysis

In March 2026, the price of ethylene glycol surged by 36.12%, with the average price rising from 3,798 CNY/ton to 5,170 CNY/ton. The main driving factors included the geopolitical conflicts in the Middle East leading to a reduction in import supply, China's spring maintenance and reduced production, increased costs, and a recovery in downstream demand. In the short term, the supply premium supports a strong price trend.

• Ethylene glycol prices soar
• Middle East geopolitical conflicts
• supply contraction
• cost increase

This week, the market for anhydrous hydrogen fluoride in China has been consolidating at a high level. The benchmark price of hydrofluoric acid is 13,166.67 CNY/ton, up 0.77% from last month. The prices of raw materials such as fluorspar and sulfuric acid have risen, providing strong cost support. However, downstream demand is weak, with purchases mainly driven by essential needs. It is expected that the market price will mainly consolidate in the short term.

• Anhydrous hydrogen fluoride
• market consolidating at high levels
• rising costs
• weak demand

This week, the urea market price in China has weakened and declined. The reference average price of urea in the Shandong region is 1865 CNY/ton, a decrease of 1.45% compared to last week. The market supply exceeds demand, and downstream demand is cautious. It is expected that urea prices will mainly consolidate with a slightly stronger trend in the short term.

• Urea market
• price decline
• oversupply
• future market forecast

On March 19, 2025, coking coal market prices remained stable, with an average price of 1,391 CNY per ton Cost support has weakened, market trading activity is sluggish, and inventory levels remain high The prices for Grade-2 and Non-Grade coking coal in Qujing were 1,795 CNY/ton and 1,520 CNY/ton, respectively; while the prices for Grade-1 and Grade-2 metallurgical coke in Yichun were 1,650 CNY/ton and 1,490 CNY/ton, respectively

• Coke market
• prices stable
• insufficient cost support
• dull trading

On March 18, the Chinese epichlorohydrin market continued to decline, with the main negotiation price in the Shandong market at 13,200-13,400 CNY/ton on a delivery basis. Despite the rise in the price of propylene, the downstream weak demand and the weakening operation of the epoxy resins industry have led to a quiet market. It is expected that the market will remain under pressure and fluctuate weakly in the short term.

• Epichlorohydrin
• market prices decline
• weak demand
• insufficient cost support

In March, the PP market in China saw a high-level increase, with prices for all grades of products rising In terms of raw materials, international oil prices and propylene prices remained firm, supporting costs; on the supply side, there was an increase in plant maintenance, with operating rates dropping to around 70%; in terms of demand, the downstream market was cautious, with small factories reducing production or shutting down

• Supply contraction
• raw material prices remain firm
• PP market at high levels
• strong cost support.

Recently, the price of EVA in China has significantly increased by 15.44%, reaching 11,716 CNY per ton, influenced by the rise in crude oil prices due to the U.S.-Iran conflict and expectations of tightening global supply. The cost of raw materials has risen, with demand initially strong but then cooling down. It is expected that the market will maintain a high level of fluctuation in the short term.

• EVA market
• price fluctuation
• rising costs
• tightening supply

Recent lithium carbonate prices have been fluctuating As of March 17, the benchmark price for battery-grade lithium carbonate was 155,000 CNY per ton Low inventory levels are supporting firm prices, while the supply side is being affected by factors outside China On the demand side, there has been a significant increase in the production of lithium-ion batteries for energy storage, driving overall demand upward

• Lithium carbonate prices
• supply-demand dynamics
• growing demand for energy storage
• disruptions in the global lithium supply chain

Recent formic acid prices have been on the rise. As of March 17, the benchmark price for industrial-grade 85% formic acid in China was 2,750 CNY per ton, up 10% from last week. Supply has decreased due to maintenance and production adjustments by companies, while demand remains robust with good sales. Analysts believe that the formic acid market in China is strong and has the potential for further increases.

• Formic acid prices
• supply contraction
• steady demand
• potential for price increases

As of March 17, 2026, the price of n-butanol in Shandong decreased from 8,833 CNY/ton to 7,766 CNY/ton, a price decrease of 12.08%. Affected by the decline in international oil prices, the drop in the price of propylene (a raw material), and weak demand from downstream sectors, the overall market trend is downward. In the short term, there is still downward pressure on prices, and attention should be paid to changes in the operating rates of downstream industries and geopolitical situations.

• n-Butanol market: cost support is loose
• demand is weak
• geopolitical factors are having an impact.

This week, the melamine market in China saw a strong increase, with prices rising from 6,300 CNY/ton to 6,625 CNY/ton, a weekly price increase of 5.16%. The rise was supported by increased costs of methanol, frequent start-stop of production facilities leading to tight spot supply, and stable downstream demand. It is expected that prices will remain high, but attention should be paid to the downstream's acceptance of high-priced raw materials.

• Melamine prices have risen
• cost-driven
• tight supply
• supported by downstream demand in China.

In the past ten days, the market price of ammonium sulfate in China has continued to rise. The average price on March 17 was 1,531 CNY per ton, an increase of 11.80% from March 7. Due to the high international urea prices caused by the war in the Middle East, the cost of raw materials has increased, and the market supply is tight, which has driven the continuous rise in the price of ammonium sulfate. It is expected that the market price of ammonium sulfate will remain strong in the short term.

• Ammonium sulfate prices
• market conditions
• supply and demand situation
• future market forecast

This week, the polyester bottle chip market in China saw a strong rally, with a weekly price increase of nearly 30%, and the largest single-day price increase reaching 13%. The main driving factors include cost increases triggered by geopolitical issues, supply-side production cuts, and the release of peak demand. In the short term, prices are expected to remain strong, but there is a risk of a pullback in the medium term.

• Polyester bottle chips
• rising costs
• tight supply
• peak demand season

In March, the price of plasticizer DOP experienced a “roller coaster” trend due to crude oil price fluctuations triggered by the geopolitical crisis in the Middle East, rising from 7,700.84 CNY/ton to 9,209.17 CNY/ton—a price increase of 19.59%. The prices of raw materials such as isooctanol and phthalic anhydride also saw significant volatility, and rising costs are supporting the increase in DOP prices. Looking ahead, DOP prices are expected to continue fluctuating and rising.

• DOP price fluctuations
• impact on the crude oil market
• transmission through the chemical industry chain
• geopolitical crisis in the Middle East

This week, aniline prices experienced volatile declines, dropping from 11,462 CNY/ton to 10,262 CNY/ton—a price decrease of 10.17%. Affected by the situation in the Middle East and the pullback in crude oil prices, cost support weakened, causing pure benzene prices to fall and softening the purchasing sentiment among downstream users. It is expected that aniline prices will remain at high levels in the short term.

• Aniline prices
• declining costs
• crude oil price correction
• changes in market supply and demand