ECHEMI Analysis

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

In January, the Chinese ABS market saw a significant price increase, with the average price reaching 9,350 CNY per ton—a year-on-year rise of 13.33%. On the supply side, supply slightly declined, while demand surged temporarily. Meanwhile, strong price support came from robust prices of the three key raw materials on the cost side. Looking ahead, due to earlier-than-expected demand and declining price acceptance, ABS is expected to enter a period of consolidation.

• ABS market
• price increase
• cost factors
• supply-demand balance

In January, the PTA market price in China first declined and then increased, finally closing at 5298 CNY/ton, a 4.33% increase from the beginning of the month. The cost side was supported by the strengthening oil prices, but the demand side weakened due to the approaching Spring Festival. It is expected that in the short term, the supply and demand for PTA in China will tend to accumulate, while in the long term, the processing fee is likely to improve.

• PTA prices are strengthening
• cost-side support
• crude oil market conditions
• supply changes in the polyester industry

In January, the overall price of maleic anhydride in China increased by 293%, with the average price reaching 5,26250 CNY/ton In the first half of the month, supply was loose, but in the second half, prices rose due to tighter spot availability The price of pure benzene increased by 1742% to 6,18667 CNY/ton, leading to an increase in the cost of maleic anhydride

• Maleic anhydride market
• price increase
• tight supply
• impact of upstream raw materials

In 2025, the market for maleic anhydride in China fluctuated downward, with the average price falling from 6,520 CNY/ton to 5,112.50 CNY/ton, a price decrease of 21.59%. The continuous decline in prices was due to oversupply and insufficient demand. It is expected that in 2026, the price of maleic anhydride will fluctuate between 4,800-6,800 CNY/ton, influenced by factors such as raw materials, supply and demand, and policies.

• 2025 Maleic Anhydride Market
• 2026 Forecast
• Supply-Demand Relationship
• Cost Influencing Factors

In January, the petcoke market of local refineries first rose and then fell, with an overall slight increase of 3.6%. Affected by the rise in international crude oil prices, the prices of refined oil products in China increased. Market demand was good in the first half of the month, and active trading in the latter part of the month supported some refineries to raise their prices. It is expected that the petcoke market will mainly stabilize before the Spring Festival.

• Petroleum coke market
• Cost impact
• Supply-side changes
• Demand-side analysis

In January, the marine fuel market in East China experienced fluctuations, with the average price of 180CST fuel oil rising to 5362.50 CNY/ton. Prices declined in the first half of the month, but rebounded in the latter half due to a rise in international crude oil prices and increased demand for coal. It is expected that the market will continue to show an upward trend in the near future. Singapore's fuel oil inventory has dropped to a 37-week low.

• Marine fuel market
• fuel oil prices
• international crude oil
• Singapore fuel oil inventories

In January 2026, the price of polyester bottle chips first weakened and then strengthened, with a surge at the end of the month followed by a decline On the supply side, plant maintenance led to a decrease in the capacity utilization rate On the cost side, fluctuations in crude oil and PTA supported the prices On the demand side, stockpiling before the Chinese New Year was completed, but the off-season suppressed price increases

• Polyester bottle flakes
• price fluctuation
• maintenance shutdowns on the supply side
• off-season for demand

On January 30, the average market price of pure benzene in China rose to 6186.67 CNY/ton, with a price increase of 1.92%. Affected by the significant rise in international crude oil futures, the support for pure benzene prices was evident, and refineries in Shandong raised their quotations, continuing the bullish sentiment in the market. In the short term, the trend of pure benzene is expected to remain firm.

• Pure benzene prices
• market prices rise
• international crude oil futures
• quotes from Shandong local refineries

In January, the price of caustic soda continued to decline. In Shandong Province, the average price of caustic soda dropped from 738 CNY/ton to 636 CNY/ton, representing a price decrease of 13.82%. The supply remains ample, but downstream demand has been moderate, driving the price drop. It is expected that caustic soda prices will continue to remain weak in the coming period.

• Caustic soda prices
• market trends
• supply-demand relationship
• import and export data

This week, the styrene market price continued to rise, climbing from 7,196 CNY/ton at the beginning of the week to 7,650 CNY/ton by the weekend, representing a price increase of 6.31%.

• Styrene
• market price
• weekly price increase
• chemical products

In January 2026, the butadiene market price in China surged by 29.01%, rising from 8,187.5 CNY/ton to 10,562.5 CNY/ton. The price increase was driven by tight supply, rising foreign markets, and pre-holiday stockpiling by downstream customers. However, at the end of the month, demand weakened due to cost pressure, leading to a market correction. It is expected that the market will mainly experience high-level fluctuations in February.

• Butadiene prices rise
• supply is tight
• downstream demand fluctuates
• high-level oscillation.

In 2025, the epichlorohydrin market experienced volatile price increases, with an annual price hike of 28.18%. By year-end, prices reached 11,600 CNY per ton. Raw materials glycerol and propylene saw significant price fluctuations. New production capacity added approximately 295,000 tons per year, bringing total capacity to 2.385 million tons. Weak demand has led to oversupply, and the market is expected to continue experiencing wide-ranging fluctuations in 2026.

• Epichlorohydrin
• Market Conditions
• 2025 Review
• 2026 Outlook

In January, the price of activated carbon rose from 12,766 CNY/ton to 12,883 CNY/ton, representing a price increase of 091% The factory price of coconut-shell activated carbon for water purification ranged between 11,000 and 13,500 CNY/ton The import volume of nutshell charcoal reached 17,98377 tons, up 21% month-on-month and 52% year-on-year

• Activated carbon prices
• market demand
• policy changes
• rising costs