ECHEMI Analysis

In January, palm oil prices rebounded and fluctuated higher, with an increase exceeding 5%. Prices rose from 8,564 CNY per ton at the beginning of the month to 9,000 CNY per ton. The reduction in production in Malaysia led to a decline in supply but boosted exports. Coupled with increased demand ahead of the Spring Festival, these factors jointly drove up prices. However, analysts predict that demand will weaken after the holiday, potentially causing prices to soften.

• Palm oil market conditions: Supply declining
• futures providing support
• demand during the Spring Festival.

Recently, PTA prices rebounded to 5,341 CNY/ton, up 663% On the cost side, spring maintenance at PX plants has led to tight supply, while the expansion of capacity in the downstream polyester industry is boosting demand Additionally, increased maintenance activities at PTA plants themselves, coupled with no new capacity coming online, have improved the supply-demand balance

• PTA market conditions
• cost support
• tight supply
• polyester capacity expansion

Recently, the polyester staple fiber market has seen a slight rebound, with the average price reaching 6,587 CNY per ton on January 26, up 219% from January 20 On the cost side, supply of PX and PTA remains tight, driving their prices up by 5% and 663%, respectively In terms of demand, overseas orders have performed relatively well, while the domestic sales market has entered the off-season

• Polyester staple fiber
• favorable cost factors
• tight PX supply
• increased PTA maintenance shutdowns

At the beginning of 2026, the market price of butadiene rubber increased significantly. As of January 26, the price in the East China region reached 12,930 CNY per ton, an increase of 11.66% from the beginning of the month. The cost of butadiene, a key raw material, rose by 28.80%, and tight supply pushed the market higher. A slight increase in tire production in China supported the market. It is expected that butadiene rubber will remain at high levels in the later period.

• Butadiene rubber
• Market conditions
• Butadiene
• Tire operating rate

Recently (11~126), the SBR (styrene-butadiene rubber) market in China has seen a significant increase, with prices in East China rising to 12,883 CNY/ton, a 1130% price increase In terms of costs, the prices of butadiene and styrene have increased by 2880% and 1470% respectively, providing strong support for SBR

• Styrene-butadiene rubber
• market conditions
• cost support
• tire production start-up

At the end of January, the Chinese ABS market continued to rise, with an average price of 8,85000 CNY/ton, up 727% year-on-year The operating rate on the supply side slightly decreased to 67%, and the weekly output dropped to 142,000 tons On the cost side, the prices of the three raw materials showed two increases and one decrease, providing overall strong support Demand was moderate, with increased resistance to high-priced goods

• ABS market
• cost factors
• supply levels
• demand conditions

Recently, the price of formic acid has slightly rebounded As of January 26, the benchmark price for 85% industrial-grade formic acid in China was 2,350 CNY per ton, an increase of 217% from last week The price increase is supported by supply-side measures such as production cuts to maintain prices and anticipated maintenance, but demand remains weak In the short term, the market will maintain a sideways consolidation trend

• Formic acid prices
• tightening supply
• maintenance schedules
• subdued demand

In January, the price of adipic acid in China continued to rise, increasing from 7,133 CNY/ton at the beginning of the month to 7,633 CNY/ton on the 26th, with a price increase of 7.01%. This was mainly due to the rise in raw material prices and the boost from downstream inventory preparation. However, analysts expect that the market may face downward pressure after the Spring Festival.

• Adipic acid market conditions: Prices are rising
• cost support
• inventory-building demand is driving the market.

After the New Year's Day of 2026, the Chinese acetone market showed a strong upward trend, with prices rising from 4,057 CNY/ton to 4,750-4,800 CNY/ton, a price increase of 18.3%. Stable supply, cost support, and growing demand have improved market sentiment, leading to a phased turnaround in the industry.

• Acetone Market
• Rising Prices
• Supply-Demand Relationship
• Cost Support

On January 23, international crude oil futures prices jumped nearly 3% amid supply disruptions, including the escalation of US sanctions against Iran and the shutdown of oil fields in Kazakhstan WTI crude oil rose to $6107 per barrel, while Brent crude oil climbed to $6507 per barrel A short-term cold snap has also affected US crude oil production, though output has the potential to rebound in the future

• Geopolitics
• supply disruptions
• rising oil prices
• U.S. sanctions on Iran

This week, factories in East China reduced their load, and the facilities of Silongbang and Jihua were shut down for maintenance, leading to a decrease in supply. Downstream users have been stocking up moderately, increasing demand. The acrylonitrile market has hit bottom and is undergoing consolidation, with prices fluctuating slightly. The rise in costs has led to increased production losses. It is expected that the market will rise later, but the room for rebound is limited.

• Supply cuts
• rising demand
• increasing costs
• market bottoming out and consolidating.

This week (119-23), the PVC spot market in China stopped falling and started to rise, with the average price of calcium carbide method SG-5 type at 4,560 CNY/ton, an increase of 222% within the week The atmosphere for price hikes on the supply side has gradually strengthened, with a slight decrease in operating rates, an increase in trading volume, and continuous inventory reduction On the cost side, the price of calcium carbide rebounded, increasing by 079% within the week

• PVC market
• price rebound
• improvement in supply and demand
• increase in calcium carbide cost

This week (2026.01.16-01.23), the polyester bottle chip market first declined and then rebounded, with both futures and spot prices rising in tandem. Strong cost support, tight supply, and the positive sentiment from futures driving spot prices led to the increase. As of January 23rd, the mainstream spot price in East China was 6,340-6,400 CNY/ton. It is expected that the short-term price will remain strong, operating within the range of 6,300-6,500 CNY/ton.

• Polyester bottle flakes
• prices are rising
• supply is tight
• cost support

This week, the caustic soda price showed a weak trend, decreasing from 690 CNY/ton at the beginning of the week to 668 CNY/ton by the end of the week, with a price decrease of 3.19%. The market supply is loose, and the downstream demand is moderate. It is expected that the caustic soda price will continue to maintain a weak consolidation in the short term.

• Caustic soda prices
• weak performance
• weak demand
• chemical industry index

This week, the styrene market price in China rose significantly, increasing from 7,196 CNY/ton at the beginning of the week to 7,650 CNY/ton by the end of the week, with a price increase of 6.31%. Multiple positive factors supported this price rise.

• Styrene
• Price Increase
• Market Dynamics
• Commodity Analysis

This week, the market price of aniline in China continued to rise, from 8,545 CNY/ton on January 19 to 8,745 CNY/ton on January 23, with a price increase of 2.34%. The cost was affected by the increase in the price of pure benzene and the reduction in supply, leading to low inventory levels in the aniline market. Downstream rigid demand entered the market, and it is expected that the market will consolidate in the short term.

• Aniline prices
• market rally
• pure benzene costs
• low supply and inventory

This week, the market price of isopropanol in China increased from 5,350 CNY/ton at the beginning of the week to 5,533.33 CNY/ton by the end of the week, a price increase of 3.43%. The cost of raw material acetone rose, strengthening cost support, and manufacturers raised their quotations. Market confidence was good, with downstream buyers mainly purchasing according to their needs. It is expected that the market will remain strong in the short term.

• Isopropyl alcohol
• market price
• rise
• chemical analysis

This week, the price of sodium metabisulfite in China increased, with industrial-grade products rising from 2,280 CNY/ton at the beginning of the week to 2,290 CNY/ton by the end of the week, a price increase of 0.44%. The main driver was the rise in the price of upstream sulfur (+2.29%). It is expected that prices will maintain a volatile but relatively strong trend in the short term.

• Sodium metabisulfite
• price increase
• rising raw material costs
• market forecast

From January 19 to 23, the BDO price in China remained at 7,357 CNY/ton, a year-on-year decrease of 12.41%. The supply increased, but the growth in demand was limited, leading to a widening gap between market supply and demand. On the cost side, the price of calcium carbide increased, while methanol fluctuated. It is expected that the BDO market will mainly adopt a wait-and-see attitude.

• BDO Market
• Supply and Demand Analysis
• Cost-Related Impacts
• Future Market Forecast

From January 19 to 23, the methanol market price in the East China port of China rose to 2,283 CNY/ton, with a price increase of 2.93% during the period. The closing price of methanol futures at the Zhengzhou Commodity Exchange increased by 2.96%. The supply side was positive, while the demand and cost sides were negative. With ample spot supply and high inventory in the mid-to-lower stream, it is expected that the market will mainly consolidate with fluctuations.

• Methanol market: Prices fluctuate
• supply declines
• demand remains weak.