ECHEMI Analysis

Since mid-March, the Chinese PTA market has been fluctuating at high levels, with the cost end strongly supported by crude oil and PX prices, but the weak demand from the downstream polyester industry has limited the room for PTA price increases It is expected that in the short term, the PTA market will maintain a wide range of fluctuation

• PTA market: trading in a high-range fluctuation
• cost support
• weak demand

This week, the polyester bottle chip market in China fluctuated at high levels, with prices ranging between 8,600 and 8,800 CNY per ton The cost end is strongly supported by geopolitical factors and oil prices, with tight supply and cautious demand

• Polyester bottle chip market
• high-level fluctuation
• cost-driven
• tight supply

This week, the styrene market in China showed a fluctuating downward trend. The average price at the beginning of the week was 10,560 CNY/ton, and by the end of the week, it had fallen to 10,540 CNY/ton, with an overall price decrease of 0.19%.

• Styrene market: prices declined
• volatile trading
• weekly price decrease of 0.19%.

From March 27 to April 3, the BDO price in China increased from 8,157 CNY/ton to 8,433 CNY/ton, a price increase of 3.39%. Multiple plants were under maintenance on the supply side, providing continued support; demand improved as downstream operations increased, which was generally positive. The cost of raw materials such as calcium carbide and methanol fluctuated, and the BDO industry continued to face loss pressures. It is expected that the market will stabilize after the increase.

• BDO market conditions: favorable supply side
• cost-side pressure
• stable demand.

As of April 3, the price of ethanol in China rose to 5,905 CNY/ton, increasing by 0.57% during the period. The cost side is affected by high corn prices, and the supply side is tight due to low production at some factories. Demand remains high due to rigid demand procurement from downstream. It is expected that the ethanol market will maintain a consolidating trend in the future.

• Ethanol market: high prices
• reduced supply
• increased demand.

From March 27 to April 3, the price of MTBE fell from 7,420 CNY/ton to 7,330 CNY/ton, a decrease of 1.21%. The market first rose and then fell, significantly influenced by international crude oil. Insufficient terminal demand led to a downward shift in transaction focus. Although the supply side is favorable, demand remains weak, and it is expected that the market will consolidate at high levels.

• MTBE market
• price fluctuations
• crude oil impact
• supply-demand changes

Since March, the price of adipic acid has risen by more than 30% due to cost support and geopolitical conflicts. In April, it is expected that the cost side will remain strong, with supply tightening and demand remaining stable. The market trend will be characterized by high-level fluctuation and upward movement, with prices expected to range between 10,700 and 11,500 CNY per ton.

• Adipic acid market conditions
• cost support
• tightening supply
• high-level fluctuations

In March 2026, influenced by geopolitical tensions and rising costs, the price of n-butanol in Shandong increased from 6,033 CNY/ton to 8,533 CNY/ton, a price increase of 4144% The surge in the crude oil-propylene chain, international supply chain disruptions, and changes in supply and demand collectively drove the price increase It is expected that supply pressure will ease in April, but high prices may suppress demand

• n-Butanol price
• rising costs
• geopolitical situation
• changes in market supply and demand

This week, the melamine market in China remained stable at a high level, with slower transactions The price reached 9,450 CNY/ton, an increase of 027% from the beginning of the month On the demand side, resistance to high prices has increased, while the supply side is gradually recovering, and cost support is weakening

• Melamine market conditions: Prices remain volatile at high levels
• supply and demand dynamics are shifting
• cost support is weakening.

In March, the Chinese PC market saw a rapid increase in prices, with the benchmark price reaching 16,516.67 CNY/ton, a 26.79% increase. The supply side is operating at high capacity but has maintenance plans, and the rising price of bisphenol A is supporting costs. On the demand side, there is cautious observation. It is expected that in the short term, the PC market will steadily rise under cost support and tightening supply.

• PC market
• price increase
• supply changes
• cost support

In March, the market price of cyclohexanone in Shandong first surged sharply and then stabilized at a high level, with a cumulative price increase of 31.03%. The cost was driven by the rise in the price of pure benzene, and the supply and demand situation shifted from tight to loose. It is expected that with increased supply and limited demand in the future, prices will decline somewhat, but attention should still be paid to the price of crude oil and the operation of facilities.

• Cyclohexanone Market
• Price Trends
• Cost Support
• Supply-Demand Changes

Recent lithium carbonate prices have experienced significant fluctuations The benchmark price for battery-grade lithium carbonate is 158,000 CNY per ton, a decrease of 867% month-over-month and an increase of 11361% year-over-year The main factors contributing to the disruption include the export ban from Zimbabwe and rumors of a diesel shortage in Australia, along with low inventories and resilient demand, which have amplified the impact of supply disruptions

• Lithium carbonate price fluctuations
• supply disruptions
• low inventory levels
• resilient demand

In April, the Chinese anhydrous hydrogen fluoride market saw a significant increase, with prices in the Jiangsu and Zhejiang regions rising by 1,500 CNY per ton month-over-month. The main reason for this was the rise in the prices of raw materials, such as fluorspar and sulfuric acid, leading to higher production costs. Downstream demand for refrigerants was good, but purchases were cautious. It is expected that market prices will mainly consolidate in the short term.

• hydrofluoric acid
• cost increase
• fluorspar price
• sulfuric acid price

In March 2026, the butadiene market price in China increased from 9,993.33 CNY/ton to 18,066.67 CNY/ton, with a price increase of 80.79%. The cost side was driven by the rise in crude oil prices, while the supply side tightened due to plant maintenance and reduced imports. Although the demand side was weak, it did not change the overall upward trend. It is expected that the market will mainly fluctuate within a high range in the future.

• Butadiene market
• rising costs
• tight supply
• weak demand

In March, the price of titanium dioxide in China increased, with the average price of sulfate process rutile titanium dioxide rising from 13,900 CNY/ton to 15,260 CNY/ton, a price increase of 978% Affected by the conflict in the Middle East, the rise in sulfuric acid prices has pushed up production costs It is expected that prices will continue to rise in the short term In the first two months, titanium dioxide exports from China increased by 6

• Titanium dioxide prices
• rising raw material costs
• export data
• decrease in imports

The Chinese formic acid market has been running steadily recently, with the benchmark price for 85% formic acid at 3,000 CNY per ton. The supply side is supported by maintenance and low inventory, while the demand side shows weak purchasing willingness, with no large-scale stockpiling. Supply and demand are tending toward equilibrium, and the market is expected to continue consolidating in the short term.

• Formic acid market
• supply-demand balance
• price stability
• low inventory levels

As of April 1, 2026, the spot price of acrylic acid in China was reported at 13,116.67 CNY/ton, a premium of 85% over the average value of the past year. The cost side has strong support, while the supply side has decreased due to spring maintenance, and the demand side's acceptance has declined. In the short term, it is expected to consolidate at a high level (12,800-13,200 CNY/ton), and in the medium term, it is expected to gradually fall back to 11,000-12,000 CNY/ton.

• Acrylic price
• cost support
• tight supply
• weak demand

In March 2026, the pure benzene market prices in Shandong region fluctuated and then rebounded, rising from 6,160 CNY/ton at the beginning of the month to 8,58667 CNY/ton at the end of the month, with a price increase of 3939% Affected by the war in the Middle East and the shipping in the Strait of Hormuz, the price of pure benzene fluctuated significantly Sinopec raised the price of pure benzene to 9,000 CNY/ton

• Pure benzene price
• crude oil futures
• market analysis
• future outlook

In March, the styrene market experienced a significant price surge, with the average price rising from 7,636 CNY per ton at the beginning of the month to 10,560 CNY per ton at the end of the month—a price increase of 3829% The rise was mainly driven by the volatile situation in the Middle East, which sent international oil prices soaring and prompted an increase in the price of the feedstock, pure benzene

• Styrene Market
• Price Increase
• Macroeconomic Impact
• Supply-Demand Changes

In March 2026, the price of toluene in China rose from 5,400 CNY/ton to 8,067.67 CNY/ton, a cumulative increase of 49.4%. The price increase was mainly due to rising crude oil costs and tighter supply, even though downstream demand was weak. Overall, the market trend remained volatile but upward. It is expected that prices will continue to fluctuate slightly at high levels in the future.

• Toluene market
• cost support
• tightening supply
• weak demand