According to the Commodity Market Analysis System of Shengyi Society, the toluene market will first rise and then fall in May 2025, with a slight increase. From May 1st to 28th, the domestic toluene market price rose from 5390 yuan/ton to 5470 yuan/ton, with a price increase of 1.48% during the period.

First half of the month: After the May Day holiday, the crude oil market first fell and then rose, with overall fluctuations and an upward trend, driving the atmosphere of the toluene market. Recently, market fluctuations have mainly been affected by market atmosphere, with weak impact from the supply side. After the holiday, the demand for oil in the Shandong region is still good, and downstream purchases are entering the market. Refinery inventories in Shandong are generally running at a low level, and the ex factory prices of main refineries are generally increasing. The market sentiment in the East China region is still weak, and market trading is slightly sluggish. Overall, the toluene market has experienced a decline followed by an increase this cycle, largely following the fluctuations in crude oil prices.
In the second half of the month, the toluene market remained stable after a volatile downward trend. The sales situation in Shandong region is still acceptable, and the enthusiasm of the oil blending industry to enter the market is still acceptable. The overall demand is relatively rigid. The market atmosphere in East and South China is relatively quiet.
Cost wise: In May, international oil prices first fell and then rose, with an overall upward trend. As of the 26th, the US WTI crude oil market was closed, and the settlement price of the main Brent crude oil futures contract was $64.74 per barrel. On the one hand, the Middle East region has once again become tense, and this news is positive for the international oil market, with crude oil prices rising; On the other hand, the United States has increased its oil restrictions on a certain country, and the easing of tariffs between China and the United States has led to an increase in international oil prices.
Supply side: Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of May 28th, East China Company quoted 5400 yuan/ton, North China Company quoted 5500 yuan/ton, South China Company quoted 5350-5450 yuan/ton, and Central China Company quoted 5500 yuan/ton.
Demand side:
According to the Commodity Market Analysis System of Shengyi Society, as of May 29, 2025, the price of xylene sold by Sinopec Sales Company has temporarily stabilized, with a current price of 6850 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical, and other facilities are operating stably with normal sales, with a price reduction of 50 yuan/ton compared to April 27. As of May 28th, the closing prices of the xylene market in Asia were $811-813/ton FOB Korea and $836-838/ton CFR China, an increase of $92/ton from April 24th.
Market forecast: The crude oil market has shown significant fluctuations recently, while the toluene market has been greatly affected. There has been little change in supply and demand in the near future, and downstream demand is mainly driven by rigid demand. Under the influence of crude oil fluctuations, the toluene market is expected to experience mainly range based fluctuations in the near future, with specific attention paid to the trend of crude oil.

According to the Commodity Market Analysis System of Shengyi Society, as of May 28, 2025, the reference price of n-butanol in Shandong Province, China is 6366 yuan/ton. Compared with May 1 (reference price of n-butanol is 6266 yuan/ton), the price has increased by 100 yuan/ton, an increase of 1.60%.

From the monitoring system of Shengyi Society, it can be seen that in May (5.01-5.28), the overall n-butanol market in Shandong Province, China, showed a trend of first falling and then rising. In early May, the n-butanol market in Shandong Province experienced a downward trend, with the center of gravity of the n-butanol market continuously declining. On May 10th, the n-butanol price in Shandong Province fell to the lowest point of the month, with a reference price of 6066 yuan/ton, a 3.19% drop in the first half of the month.
In mid to late May, the overall n-butanol market in Shandong region experienced a recovery trend, with the center of gravity of the n-butanol market fluctuating upwards. n-butanol factories gradually increased their n-butanol shipment prices, with a cumulative increase of about 300-450 yuan/ton. As of May 28th, the market price of n-butanol in Shandong Province, China is estimated to be around 6300-6400 yuan/ton, with a 4.95% increase in the second half of the year.
Analysis of Market Factors
In terms of supply and demand: In early May, the downstream stocking performance of n-butanol after the holiday was poor, putting pressure on the supply side of n-butanol. The market supply and demand transmission was slow, and the positive support for the n-butanol market was insufficient, leading to a downward trend in the market. In mid to late May, some n-butanol plants in Shandong region have not yet restarted, resulting in low inventory levels and tight spot supply. The pressure on factory shipments is relatively small, and the supply side provides support for the n-butanol market. Coupled with the gradual reduction of downstream raw material reserves, downstream users have increased their enthusiasm for raw material procurement, and demand transmission has improved. The demand side also provides some support for the rise of n-butanol market.
Market analysis in the future
At present, the trading atmosphere of n-butanol in the market is mild, and the mentality of industry players is positive. The supply and demand transmission of n-butanol is good. The n-butanol data analyst of Shengyi Society predicts that in the short term, the n-butanol market in Shandong Province, China will mainly operate in a stable and slightly strong manner, and specific changes in supply and demand information need to be paid more attention to.

According to the commodity analysis system of Shengyi Society, since May, the hydrogen peroxide market has mainly fluctuated in a narrow range, with a relatively strong market. On May 1st, the average market price of hydrogen peroxide was 693 yuan/ton, and on May 27th, the average market price of hydrogen peroxide was 696 yuan/ton, with a price increase of 0.48%.

Relieve supply and demand pressure, hydrogen peroxide market remains strong in May
After the May Day holiday, the demand for terminal printing and papermaking industries increased, and some hydrogen peroxide manufacturers continued to shut down for maintenance, resulting in a decrease in supply pressure. The price of hydrogen peroxide slightly increased, and the average price in the domestic market rose to around 700 yuan/ton, with a price increase of about 50 yuan/ton. The hydrogen peroxide market is heating up, with increased market transactions and mainly fluctuating upward trends.
After mid month, the hydrogen peroxide market continued to rise slightly, with increased market transactions and an overall upward trend. As of May 19th, the average market price of hydrogen peroxide was 703 yuan/ton, an increase of 1.44% from the beginning of the month.
At the end of the month, after the hydrogen peroxide market rose, it gradually experienced a correction, and the price returned to below 700 yuan. As of May 27th, the average market price of hydrogen peroxide was 696 yuan/ton, a decrease of 0.95%.
The hydrogen peroxide analyst from the business agency believes that after the Loong Boat Festival, the rigid demand for hydrogen peroxide has increased, and the market is expected to continue to rise.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the market price of isopropanol has fallen this week. At the beginning of the week, the average price of isopropanol in China was 6750 yuan/ton, and over the weekend it was 6708 yuan/ton, with a price reduction of 0.62%.
The market price of isopropanol has fallen this week. The isopropanol market is sluggish, with weak demand and low purchasing enthusiasm, resulting in a decrease in factory ex factory quotations. The price of raw material acetone has fallen, and there is insufficient cost support. As of now, most of the isopropanol market prices in Shandong are around 6600-6900 yuan/ton; The majority of isopropanol market prices in Jiangsu region are around 6700-6900 yuan/ton.
In terms of raw material acetone, the domestic acetone market price has fallen. At the beginning of the week, the average price of acetone in China was 5805 yuan/ton, and the average price over the weekend was 5692.5 yuan/ton, with a price increase of 1.94%. The overall trading atmosphere was average, with petrochemical manufacturers lowering their listing prices during the week. Business Society predicts that the acetone market will consolidate and operate next week.
In terms of propylene, the domestic propylene market has slightly increased. At the beginning of the week, the market was at 6645.75 yuan/ton, and the average price over the weekend was 6665.75 yuan/ton, with a price increase of 0.3%. At present, the manufacturer’s outbound situation is slowing down, and downstream customers are choosing to purchase at a lower price. It is expected that the market will weaken and consolidate in the short term.
3、 Future forecast
The isopropanol analyst from the Chemical Branch of Shengyi Society believes that the decline in acetone market prices has led to a downward trend in the isopropanol market, resulting in a lack of overall market confidence and poor purchasing enthusiasm in downstream markets. Therefore, caution is the main focus. It is expected that the isopropanol market will experience weak consolidation in the short term, and more attention will be paid to changes in the raw material market.

This week (May 19-23, 2025), the upstream raw material caprolactam market for nylon filament regained confidence, with prices slightly rising and good cost support, cost driven. However, downstream market shipments were not smooth, demand continued to be weak, procurement enthusiasm was not high, and some nylon filament manufacturers had high inventory levels. The nylon filament market stopped falling and rebounded, with prices rising slightly.

According to the Commodity Market Analysis System of Shengyi Society, last week (May 19-23, 2025), the price center of nylon filament slightly increased. As of May 23, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 14860 yuan/ton, an increase of 80 yuan/ton compared to last week, with a weekly increase of 0.54%; Nylon POY (premium product; 86D/24F) quoted 12400 yuan/ton, an increase of 100 yuan/ton compared to last week, with a weekly increase of 0.81%; The price of nylon FDY (premium product: 40D/12F) is reported at 15400 yuan/ton, an increase of 50 yuan/ton compared to last week, with a weekly increase of 0.33%.
The raw material market has stopped falling and risen
In terms of cost: This week (May 19-23, 2025), the spot market price of caprolactam stopped falling and rose, while the market price of high-speed spun nylon PA6 chips showed an upward trend. The market price of raw materials stopped falling and rose, and the cost side was well supported. As of May 23, 2025, the benchmark price of caprolactam in Shengyi Society is 9450 yuan/ton, with a weekly increase of 0.89%. During the week, the market price of high-speed spun nylon PA6 slices slightly increased, with a 1.55% weekly increase in nylon PA6 prices, indicating good cost support.
Supply and demand: During the week, some nylon filament manufacturers have lowered their operating rates, resulting in a decline in overall market supply. However, industry inventory levels continue to increase, leading to poor performance on the supply side; The demand in the end market is weak, and some downstream manufacturers have reduced production or switched production, resulting in a decrease in demand for nylon filament. It is difficult to find favorable support from the demand side.
Future forecast
Cost aspect: In terms of caprolactam, the price range of pure benzene has been adjusted, and some units in the caprolactam market may experience a certain decline in operation. Downstream purchases are mainly cautious, and it is expected that the caprolactam market price will fluctuate and adjust next week. In terms of nylon PA6 slicing, the cost support is good, and the market supply is expected to slightly increase. Downstream manufacturers are not enthusiastic about purchasing, and it is expected that the nylon PA6 slicing market will fluctuate and consolidate next week, with prices mainly rising slightly.
Supply and demand side: Most of the nylon filament manufacturers’ facilities are operating stably, and the industry supply is relatively high. The overall inventory level in the market may still be high, and it is expected that the supply side support for the nylon filament market will be average in the short term; There is no sign of improvement in the demand of the terminal market, and downstream factories or inventory consumption are the main factors. It is difficult for the demand side to improve, so it is expected that the demand side of the nylon filament market will not change next week.
Overall, the spot market for raw material caprolactam is expected to remain stable with small fluctuations, while the market for nylon PA6 chips is expected to rise. The cost side is well supported, and downstream markets are adopting a cautious and wait-and-see attitude, purchasing according to demand. The demand side is unlikely to improve. Business analysts predict that the nylon filament market prices will mainly fluctuate and consolidate next week, with prices possibly rising slightly.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of May 21st, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6740 yuan/ton, which is 1.61% lower than the reference average price of 6850 yuan/ton on May 14th.
2、 Market analysis
Market Aspects
This week, the domestic phosphoric acid market prices have weakened and fallen. The reduction in raw material prices has weakened cost support. As of May 21st, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6400-6700 yuan/ton, and in Sichuan region it is around 6500-6700 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6600-7300 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. This week, the market price of yellow phosphorus continued to decline. At present, the yellow phosphorus market has sufficient supply, but the terminal demand is poor, and downstream purchasing intentions have weakened. At present, the market is mainly bearish, and it is expected that the domestic yellow phosphorus market price will continue to be weak in the short term.
3、 Future forecast
The phosphoric acid analyst from Shengyi Society believes that the recent trend of the phosphoric acid market is mainly downward. The price of raw material yellow phosphorus continues to weaken, with insufficient cost support and a decrease in the transaction price of phosphoric acid. At present, the phosphoric acid market is mainly wait-and-see, with limited new transactions. It is expected that the domestic phosphoric acid market will operate weakly in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the overall market for mixed xylene has risen this week. From May 12 to May 19, 2025, the price of mixed xylene has increased from 5570 yuan/ton to 5860 yuan/ton, an increase of 5.21%. The overall domestic mixed xylene market has risen in this cycle. Among them, the Shandong region was positively affected by downstream chemical industry procurement after the holiday, and refineries generally operated with low inventory levels, resulting in an increase in ex factory prices. Holders of goods had a strong mentality of supporting prices, and market prices continued to rise. The East and South China regions first rose, then fell, and finally closed up. Some of the goods arrived at the port during the week, driven by downstream chemical industry demand. The market trading situation was good, and the overall market was strong.
Cost aspect: The crude oil market rose first and then fell during this cycle, with an overall upward trend. As of May 15th, the settlement price of the main contract for WTI crude oil futures in the United States was $61.62 per barrel. The settlement price of the main Brent crude oil futures contract is $64.53 per barrel.

Supply side:
Sinopec’s xylene quotation summary shows that the company is currently operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of May 19th, East China Company quoted 5800 yuan/ton, North China Company quoted 5750-5950 yuan/ton, South China Company quoted 5850-5900 yuan/ton, and Central China Company quoted 5600-5700 yuan/ton.
Demand side:
On May 16th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 6700 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. An increase of 100 yuan/ton compared to May 9th. As of May 15th, the closing prices of the xylene market in Asia were $828-830/ton FOB Korea and $853-855/ton CFR China.
Market forecast: The trend of crude oil is weak in the near future, and the cost support for xylene is limited. From the perspective of supply and demand, the current xylene inventory of refineries in Shandong is generally running at a low level, and the mentality of raising prices still exists. However, the downstream PX market has been weak recently, and there may be insufficient intention to continue following up, lacking demand support. It is expected that there will be some downward space in the xylene market in the short term, and the market will operate steadily and weakly.

According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China continued to rise this week. As of May 16th, the average market price in East China was 11900 yuan/ton, and as of May 12th, the average price was 10600 yuan/ton. Within the week, it increased by 2.59% and decreased by 20.13% year-on-year.
This week, the TDI market has shown a strong trend, with prices continuing to rise. During the week, the supply side raised prices and expected a reduction in supply. However, downstream market participation remained positive, and the trading atmosphere heated up. In addition, the implementation of tariff policies has further boosted market confidence and increased trading volume.

Supply side: Fujian and Gansu are operating at medium to high loads, and BASF in Shanghai has a maintenance plan in mid May.
Cost wise: The price of toluene has stopped falling and increased, with an average price of 5340 yuan/ton at the beginning of the week and 5594 yuan/ton over the weekend, representing a 4.77% increase during the week. Downstream demand is dominant, with average enthusiasm for entering the market.
Market analysis shows that the TDI data analyst from Shengyi Society believes that the current trading atmosphere in the TDI market is still acceptable, but the market inventory is low. The maintenance of large factories is imminent, and the expected filling of goods is slowing down. It is expected that the TDI market will be strong in the short term.

According to the Commodity Market Analysis System of Shengyi Society, as of May 14, 2025, the reference price of n-butanol in Shandong Province, China is 6233 yuan/ton. Compared with May 9 (reference price of n-butanol is 6066 yuan/ton), the price has increased by 167 yuan/ton, an increase of 2.75%.

From the market monitoring system of Shengyi Society, it can be seen that as we enter this week, the domestic n-butanol market in Shandong has experienced a recovery. The focus of negotiations in the n-butanol market in Shandong has gradually warmed up, and the market price has adjusted upwards, with an adjustment range of about 50-150 yuan/ton. As of May 14th, the reference price for n-butanol in the domestic Shandong region is around 6200-6250 yuan/ton.
Analysis of Market Factors
In terms of supply and demand: Currently, the overall supply side performance of the n-butanol market is stable, the supply side pressure is still acceptable, and the factory mentality is still good. The positive macro news provides certain psychological support for downstream users of n-butanol, and the enthusiasm for replenishment and stocking of n-butanol downstream has increased. The overall demand has strengthened the support for n-butanol.
Market analysis in the future
At present, the trading atmosphere of n-butanol in the market has improved, with a mild atmosphere and good supply and demand transmission. The n-butanol data analyst from Shengyi Society predicts that in the short term, the n-butanol market in Shandong, China, will mainly remain stable and strong, and specific changes in supply and demand information need to be closely monitored.

According to the Commodity Market Analysis System of Shengyi Society, as of May 12th, the price of isooctanol was 7183.33 yuan/ton, a fluctuating decrease of 4.01% compared to the price of 7483.33 yuan/ton on May 1st. Plasticizer companies are operating at a low level, with a plasticizer operating rate of less than 60%. The demand for isooctanol is weak, and the price of isooctanol is fluctuating and falling; Isooctanol enterprises have added new production capacity, and the self-sufficiency rate of isooctanol in China has increased to over 95%. The import of isooctanol has significantly decreased, and the overall market supply of isooctanol is sufficient.

Downstream plasticizer DOP prices fluctuate and fall after the holiday
According to the Commodity Market Analysis System of Shengyi Society, as of May 12th, the DOP price was 7859.17 yuan/ton, a fluctuating decrease of 3.54% compared to the DOP price of 8147.50 yuan/ton on May 1st. The operating rate of plasticizer DOP enterprises is less than 60%, the production of plasticizer DOP has decreased, the demand for isooctanol is weak, the support for isooctanol demand has weakened, and the downward pressure of isooctanol still exists.
Future expectations
According to the data analyst of Shengyi Society’s octanol products, plasticizer companies have low operating rates and downstream demand for isooctanol is weak. In the future, the demand for isooctanol is weak, and it is expected that the price of isooctanol will fluctuate and fall.