According to the commodity analysis system of Shengyi Society, the styrene market fluctuated and rose this week, with an average price of 7610 yuan/ton at the beginning of the week and 7630 yuan/ton at the end of the week, an increase of 0.26% within the week.

News: On August 7th, international crude oil futures closed down. The settlement price of the September WTI crude oil futures contract in the United States was $63.88 per barrel, a decrease of $0.47 or 0.7%. The settlement price of Brent crude oil futures for October was $66.43 per barrel, a decrease of $0.46 or 0.7%.
Cost wise: Pure benzene fell first and then rebounded this week. The overall supply has slightly contracted, with both petroleum benzene and hydrogenated benzene decreasing, and there has been no synchronous improvement in demand. The average price at the beginning of the week was 6002 yuan/ton, and the average price over the weekend was 6122 yuan/ton, with a 2.02% increase during the week. The pure benzene market maintains a loose supply situation, with weak fundamentals, which affects the trend of pure benzene.
Supply and demand side: This week, a unit in Northeast China restarted, a new unit in Shandong produced a small amount, and some units in East and South China adjusted their loads. The factory capacity utilization rate dropped to 77.73%, a decrease of 1.19% compared to the previous month. In terms of demand, the operating rates of downstream three S have fluctuated, with high EPS inventory and a significant decrease in operating rates during the off-season of demand. The ABS and PS industries have seen a slight increase in production, with an overall trend of decreasing demand.
Styrene external market: On August 7th, the closing price of styrene market in Asia remained stable, with closing prices of 885-890 US dollars/ton FOB Korea and 895-900 US dollars/ton CFR China.
Market forecast: The current fundamentals of the styrene market are weak and difficult to change. There will be maintenance equipment restarting and new equipment testing in the later stage. Downstream EPS/PS will reduce the burden of some factories due to industry profit compression. Without significant changes on a macro level, it is expected that the styrene market will operate under pressure in the short term.

The rise in crude oil prices in July is favorable for the asphalt market, with the Shandong asphalt market rising. According to monitoring data from Shengyi Society, the ex factory price of heavy-duty asphalt # 70 in Shandong region was 3670 yuan/ton on July 1st, and as of July 31st, the ex factory price in Shandong region was 3727 yuan/ton, an increase of 1.54%.

From a cost perspective, the increase in prices of raw materials such as crude oil has led to an increase in production costs, which has a certain supporting effect on it. In terms of inventory, due to the impact of the typhoon, some refineries have limited ship shipments and accumulated inventory in their warehouses.
In terms of supply, the operating rate of 92 domestic asphalt refineries is at 35%, an increase from the previous month, with a monthly output of 2.4 million tons. In July, the operating rate of asphalt factories was at the median level in the past five years, indicating a relatively sufficient supply.
On the demand side, weather conditions such as high temperatures and rainfall have affected road construction in some areas, resulting in slow progress of terminal projects. Overall demand for asphalt is relatively low, and downstream users and traders are cautious.
From the perspective of Shengyi Society, in terms of the fundamentals of asphalt, the overall weak supply-demand situation may continue, with funding conflicts and weather conditions such as rainfall affecting the release of terminal demand. The supply side may remain stable, and the operating rate is at the median level in recent years. However, inventory is relatively low and there has been no accumulation signal. The short-term pressure on the market is not significant, but asphalt continues to have insufficient upward momentum.

Zinc price in July

According to the Commodity Market Analysis System of Shengyi Society, as of July 31st, the zinc price was 22296 yuan/ton, an increase of 0.17% compared to the zinc price of 22258 yuan/ton on July 1st. In July, the market was immersed in a positive atmosphere of “anti internal competition”, and the Shanghai zinc price broke the previous low consolidation deadlock, successfully filling the gap and repairing the gap.
In terms of raw materials
The overall processing fee for zinc concentrate remains stable, and market transactions are mainly based on the execution of contracts signed in the early stage. The transaction volume in the imported zinc concentrate market is slightly sluggish, and the price comparison between domestic and foreign markets has shown a weakening trend this week. As a result, the processing fees for imported ore have slightly increased.
Supply and demand side
The situation of zinc ingot premium has undergone significant changes, showing a trend from positive to negative, which reflects a certain degree of adjustment in the market supply and demand relationship. From a market perspective, this indicates that the supply of zinc ingots in the spot market is relatively abundant, and the bargaining power of buyers in transactions has been improved. It is worth noting that there is a certain contrast between the downward trend of the premium and the upward trend of prices. This may be because some traders have appropriately lowered their premium quotes in order to accelerate shipment speed and promote the growth of actual trading volume.
The demand for die-casting zinc alloys in downstream industries such as automobiles and home appliances has shown mediocre performance. Although new car models continue to be launched in the automotive industry, the overall market consumption lacks strong momentum, and the sales growth trend is slow, which has prevented a significant increase in demand for die-casting zinc alloy parts. On the one hand, the home appliance industry is affected by the saturation of the market, and on the other hand, it is in the off-season of consumption. Therefore, production enterprises adopt a cautious attitude towards raw material procurement, mostly purchasing according to actual demand to maintain a low inventory level.
Future forecast
August is a period of transition between peak and off peak seasons in the industry. As for the third quarter, the overall policy situation shows a cautious and optimistic trend. However, from a fundamental perspective, the expectation of increased supply and weak demand has not changed. Overall, the possibility of zinc prices maintaining a volatile trend is greater than a decline.

According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China in July saw a significant increase in prices due to supply tightening. At the beginning of the month, the average TDI market price was 11733 yuan/ton, and on July 30th, the TDI price was 15333 yuan/ton, an increase of 30.68% during the month and a year-on-year increase of 14.14%.

The TDI market rose strongly in July. Entering July, the payment price for major factories in North China was 15000 yuan/ton, with an increase of 1000 yuan/ton. The supplier has a strong willingness to raise prices and actively promotes price increases. The market supply is tight, and traders are reluctant to sell at low prices, with a focus on fast in and fast out. Subsequently, on July 12th, the force majeure event of Germany’s Covestro TDI affected production capacity by 300000 tons. Due to the surge in export orders and centralized maintenance of domestic facilities, TDI’s global supply was tight and prices skyrocketed. The high-end quotation has risen to around 16500 yuan/ton, and downstream demand has entered the market. Intermediaries are becoming increasingly cautious in entering the market, and the market is fluctuating in the high range at the end of the month.
In July, upstream toluene experienced a weak decline. From July 1st to 30th, the domestic toluene market price dropped from 5820 yuan/ton to 5494 yuan/ton, with a price drop of 5.59% during the period. In July, the fundamentals of the toluene market were weak, with strong supply and weak demand. In addition, crude oil fluctuated weakly, making it difficult for the price market to improve.
In the future analysis, TDI data analysts from Shengyi Society believe that there is a clear resistance from downstream end-users towards high priced TDI, and actual orders are weak. The 360000 tons/year TDI plant of Wanhua Fujian has resumed operation on the 30th, and the end of month settlement price of major factories is about to be released. It is expected that the TDI market will remain stagnant at a high level in the short term, closely monitoring changes in market news.

The phthalic anhydride market fluctuated and fell in July

According to the Commodity Market Analysis System of Shengyi Society, as of July 29th, the price of phthalic anhydride in neighboring countries was 6650 yuan/ton, a fluctuating decrease of 3.16% compared to the price of phthalic anhydride on July 1st, which was 6866.67 yuan/ton. In July, the price of ortho benzene fluctuated and fell, the price of industrial naphthalene fluctuated and fell, and the cost support of phthalic anhydride weakened. In July, phthalic anhydride equipment was repaired, and the operating rate of phthalic anhydride enterprises slightly decreased. The supply of phthalic anhydride was sufficient, and the downstream plasticizer market fluctuated and fell. The equipment operating load of plasticizer enterprises decreased, and the demand support for phthalic anhydride decreased. Supply is sufficient and demand is decreasing, resulting in a volatile drop in phthalic anhydride prices in July.
The cost of phthalic anhydride has decreased, and the supply is sufficient
As of July 29th, Sinopec’s ortho benzene quotation was 6800 yuan/ton, a decrease of 2.86% from the initial ortho benzene quotation of 7000 yuan/ton at the beginning of the month. The price of industrial naphthalene has fluctuated and fallen, the price of ortho benzene has fallen, the cost support of phthalic anhydride has decreased, and the downward pressure on phthalic anhydride has increased. The maintenance of phthalic anhydride equipment continued in July, with a production rate of 6.5-6.90% for enterprises and sufficient supply of phthalic anhydride. The sufficient supply has led to a decrease in costs, and the downward pressure on phthalic anhydride prices in July has increased.
Demand side: Downstream production decreases, DOP prices fluctuate and fall
In July, DOP enterprises saw a significant decrease in construction, with the construction rate dropping from 60% in June to around 40% in mid month, and slowly recovering in late month. According to the Commodity Market Analysis System of Shengyi Society, as of July 29th, the DOP price was 7967.50 yuan/ton, a fluctuating decrease of 3.53% compared to the DOP price of 8259.17 yuan/ton on July 1st. In July, DOP production decreased, plasticizer production decreased, and plasticizer prices fluctuated and fell. The production of plasticizers has decreased, the demand for phthalic anhydride is weak, and the price of phthalic anhydride has risen to support the decline.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies have seen a decline in production, resulting in a decrease in plasticizer output and weak demand for phthalic anhydride. At the end of July, plasticizer companies resumed production, leading to an increase in DOP demand; In terms of supply, the equipment maintenance of phthalic anhydride enterprises is still ongoing, and the supply of phthalic anhydride is sufficient. In terms of cost, the price of ortho benzene has decreased, the price of industrial naphthalene has fluctuated and fallen, and the cost of phthalic anhydride has decreased. In the future, the production of phthalic anhydride enterprises is relatively stable, the supply of phthalic anhydride is sufficient, downstream enterprises are resuming production, the demand for phthalic anhydride is recovering, and the cost of demand recovery is decreasing. It is expected that the price of phthalic anhydride will stop falling and rebound in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market has been consolidating and operating this week. On July 21st, the market price of aniline was 7245 yuan/ton, and on July 25th, the price was 7245 yuan/ton. There was no fluctuation during the cycle, a decrease of 31.16% compared to the same period last year.
2、 Analysis and Review
Shandong aniline has been running smoothly this week. The upstream equipment is running smoothly, the enterprise inventory is maintaining a healthy level, and sales are stable. Downstream urgently needs to enter the market, with a shortage of new orders. Upstream pure benzene oscillates narrowly, but it still supports aniline. With little fluctuation in raw materials and stable market supply and demand, the price of aniline remains stable.
Cost wise: Pure benzene has slightly increased, with an average price of 5858 yuan/ton at the beginning of the week and 5881 yuan/ton over the weekend, representing a 0.35% increase during the week. The pure benzene market maintains a loose supply situation, with weak fundamentals and limited upward potential.
3、 Future expectations
The current aniline market lacks positive news guidance, with limited support on the raw material side and stable demand. It is expected that the aniline market will maintain a stable operation in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of July 21st, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6720 yuan/ton, which is 0.15% lower than the reference average price of 6730 yuan/ton on July 16th.
2、 Market analysis
Market Aspects
Recently, the price of phosphoric acid in the domestic market has been stable but declining. As of July 21st, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6450-6850 yuan/ton, in Yunnan region it is around 6600 yuan/ton, and in Sichuan region it is around 6350-6750 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6500-7450 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. Recently, the market price of raw material yellow phosphorus has been weak and declining. At present, the trading atmosphere in the market has weakened, and downstream purchases are cautious, with bearish sentiment prevailing. Short term yellow phosphorus prices are expected to weaken and consolidate.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been weak and declining recently. The market for raw material yellow phosphorus is weakening, and there is insufficient cost support. The trading volume in the phosphoric acid market is light, and downstream demand for replenishment is urgent. It is expected that the domestic phosphoric acid market will mainly follow the weak consolidation and operation of raw materials in the short term.

According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7416 yuan/ton on July 11th, and 7378 yuan/ton on July 18th, a decrease of 0.52%. LDPE (2426H) had an average price of 9493 yuan/ton on July 11th and 9383 yuan/ton on July 18th, a decrease of 1.16%. HDPE (2426H) had an average price of 8067 yuan/ton on July 11th and 7987 yuan/ton on July 18th, a decrease of 0.99%.

Recently, the polyethylene market has been volatile and weak. The crude oil market maintains a volatile trend, with limited guidance from the raw material side on the polyethylene market. In terms of device maintenance: According to data statistics, during the period from July 11th to 17th, the polyethylene device suffered a maintenance loss of approximately 116900 tons, a decrease of 6300 tons compared to the same period last week. The previous maintenance devices were gradually restarted, and the pressure continued to increase. The demand side is in the off-season, with limited market order follow-up and low operating rates. Purchasing is cautious and cautious, dragging down the polyethylene market on the demand side. Lack of confidence in the market and weakened prices.
Supply pressure remains; The demand boost is limited, and it is expected that polyethylene will mainly operate weakly.

According to the Commodity Market Analysis System of Shengyi Society, as of July 14, 2025, the reference price of n-butanol in Shandong Province, China is 6116 yuan/ton. Compared with July 1 (reference price of n-butanol is 6466 yuan/ton), the price has decreased by 350 yuan/ton, a decrease of 5.41%.

From the Commodity Market Analysis System of Shengyi Society, it can be seen that in early July, the overall market situation of n-butanol in Shandong Province, China, showed a fluctuating downward trend. In the first ten days, n-butanol factories and suppliers have successively lowered the shipment price of n-butanol, with a cumulative reduction of 300-400 yuan/ton. The focus of the n-butanol market continues to move towards a lower level. As of July 14th, the reference price of n-butanol in the domestic Shandong region is around 6050-6200 yuan/ton.
Analysis of Market Factors
On the supply side: Currently, the n-butanol temporary shutdown unit has basically resumed operation, and there is sufficient supply of n-butanol on site. In order to maintain low inventory, the factory mainly negotiated shipments in early July due to the overall low market, and the supply side provided poor market support for n-butanol..
In terms of demand: In early July, the downstream demand for n-butanol was average, with a light purchasing atmosphere and cautious stocking. The transmission of n-butanol demand was insufficient, and the overall supply and demand transmission was slow.
Market analysis in the future
At present, the atmosphere of inquiries in the n-butanol market is relatively weak, with downstream urgent procurement being the main focus. The n-butanol data analyst from Shengyi Society predicts that in the short term, the n-butanol market in Shandong Province will mainly operate in a consolidated manner, and specific changes in supply and demand information need to be closely monitored.

This week, the domestic epoxy propane market has been operating weakly and steadily. According to the monitoring system of Shengyi Society, as of July 11th, the benchmark price of Shengyi Society’s epoxy propane was 7250 yuan/ton, a decrease of 1.05% compared to July 1st.

Price influencing factors:
Raw material side: The market price of raw material propylene is temporarily stable. According to the market analysis system of Shengyi Society, as of July 10th, the benchmark price of propylene in Shengyi Society was 6575.75 yuan/ton, a decrease of 2.16% compared to the beginning of this month (6720.75 yuan/ton).
Supply side: Zhonghai Fine Plan restarts, with a slight increase in supply. Manufacturers generally have no inventory pressure, and market supply is slightly loose, supporting price stabilization.
On the demand side: downstream demand for epoxy propane replenishment is urgent, and the market trading atmosphere is relatively quiet. Affected by tariff policies, downstream terminal markets have limited procurement of raw materials. Overall, the demand is facing limited support from the epoxy propane market, and the market may continue to operate steadily in the later stage.
Market forecast:
Business Society’s epoxy propane analyst believes that the supply side of epoxy propane is relatively loose, downstream demand is weak, and there is a need for replenishment, cautious procurement, and a relatively quiet market trading atmosphere. It is expected that the epoxy propane market will continue to operate steadily in the later stage, and more attention should be paid to changes in raw material prices and downstream supply and demand.