This week, the price of plasticizer DOP has stopped falling and rebounded

According to the Commodity Market Analysis System of Shengyi Society, as of September 15th, the DOP price was 7509.16 yuan/ton, a fluctuating increase of 0.56% compared to the DOP price of 7467.50 yuan/ton on September 10th. The prices of raw materials isooctanol and phthalic anhydride have fluctuated and fallen, while the cost of DOP has stopped falling, and the downward pressure on DOP has weakened; This week, the operating load of DOP enterprises has increased, leading to an increase in DOP supply; Downstream demand is difficult to improve, and there is a lack of interest in DOP procurement inquiries, resulting in limited improvement in DOP demand transactions. The cost has stopped falling, and the price of plasticizers has rebounded.
This week, the price of raw material isooctanol fluctuated and fell
According to the Commodity Market Analysis System of Shengyi Society, as of September 15th, the price of isooctanol was 7016.67 yuan/ton, a fluctuating decrease of 0.71% compared to the price of 7066.67 yuan/ton on September 8th. This week, the production capacity of isooctanol enterprises remained stable at a high level, and the operating rate of isooctanol equipment slightly increased to 96%. In addition, there was a significant increase in new isooctanol production capacity, resulting in an increase in isooctanol supply; This week, the price of isooctanol has slightly decreased, the cost of plasticizers has stopped falling, and the support for DOP increase still exists.
This week, the price of raw material phthalic anhydride rebounded and stabilized
According to the Commodity Market Analysis System of Shengyi Society, as of September 15th, the price of phthalic anhydride in neighboring countries was 6300 yuan/ton, which rebounded from the price of 6133.33 yuan/ton on September 8th and increased by 2.72%. This week, the price of ortho benzene was 6400 yuan/ton, with a price increase of 1.59%. The price of industrial naphthalene fluctuated and rose, and the cost support of phthalic anhydride increased. This week, the load of phthalic anhydride equipment increased, and the operating rate of phthalic anhydride enterprises was 63%. The supply of phthalic anhydride is sufficient, and the equipment operating load of downstream plasticizer enterprises has increased. The demand support for phthalic anhydride still exists. The price of phthalic anhydride has rebounded, the cost of plasticizers has stopped falling, and the support for the price increase of plasticizer DOP still exists.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol fluctuated slightly and fell, while the price of phthalic anhydride rebounded and rose, and the support for the increase in plasticizer DOP cost increased; In terms of supply, the operating rate of plasticizer enterprises has increased, the production of plasticizers has remained stable, and the supply of plasticizers is sufficient; In terms of demand, the overall economy is sluggish, coupled with anti competition and the elimination of outdated production capacity, resulting in weak downstream demand. In the future, with strong supply and weak demand, coupled with increased support from rising costs, it is expected that the price of plasticizer DOP will rebound and stop falling.

1、 Price trend

Taking the sulfuric acid method for producing pyrite type titanium dioxide, which has a large volume of goods in the domestic market, as an example. According to data monitoring from Shengyi Society, the domestic titanium dioxide market has remained stable this week, with an average price of 13820 yuan/ton.
2、 Market analysis
This week, the domestic titanium dioxide market has temporarily stabilized and consolidated. At present, the demand for titanium dioxide in the market is average, and there is no significant improvement in the terminal market. The trading atmosphere in the market is relatively light, and the enthusiasm for downstream procurement is not high. However, under cost pressure, enterprise offers remain firm, and the upstream and downstream market conditions are relatively stagnant. The market is mostly wait-and-see, and transactions are cautious. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 13200-14200 yuan/ton; The price of the titanium type is around 11700-12500 yuan/ton, and the actual transaction price is negotiable.
3、 Future forecast
The titanium dioxide analyst from Shengyi Society believes that the domestic titanium dioxide market is temporarily stable and consolidating this week. Titanium dioxide companies are under cost pressure and their offers are firm. The market is mostly wait-and-see. It is expected that the titanium dioxide market will remain stable and wait to see in the short term, and the actual transaction price will be discussed on a case by case basis.

According to the Commodity Market Analysis System of Shengyi Society, from September 1st to 5th, the average price of BDO in China remained at 7542 yuan/ton, with a month on month decrease of 9.90% and a year-on-year decrease of 6.55%. The BDO market is deadlocked after a decline. As prices reach low levels, some downstream demand for replenishment increases, leading to an overall increase in demand. The overall shipment of the factory is still acceptable, and the pressure of industry losses has increased, with a focus on maintaining market stability among suppliers.

On the supply side and in terms of equipment, the Tunhe Phase II and III equipment has been operating stably after restarting, while the Shaanxi Black Cat equipment has been operating at 70% load after a short shutdown. Other equipment has been operating relatively stably, and the overall supply volume of the industry has increased, with average supply side support. The supply side of BDO is affected by negative factors.
On the cost side, raw material calcium carbide: The overall domestic calcium carbide market is showing a narrow downward trend. Raw material methanol: The domestic methanol market continues to be weak. As of 10:00 am on September 5th, the reference price for domestic methanol in Taicang is 2260 yuan/ton. The weak consolidation of raw materials such as calcium carbide and methanol, as well as the negative impact of BDO cost factors.
On the demand side, under the traditional peak season effect of the Golden September, terminal demand has recovered to some extent, and downstream industries such as PTMEG, PBT, PBAT, GBL-NMP, TPU have all increased production to varying degrees, resulting in an increase in raw material digestion. At the same time, with the low price of BDO, some downstream factories have increased their urgent need for replenishment operations, which has helped the overall sales situation of BDO factories to remain stable. The demand side of BDO is affected by bearish factors.
In the future forecast, the supply and demand of the BDO market will increase, the negotiation game will continue, and the market will maintain a stalemate. Business Society BDO analysts predict that the domestic BDO market will mainly operate steadily.

Entering September 2025, the market price of acrylic acid continues to be under pressure. As of September 1st, the benchmark price of acrylic acid in Shengyi Society was 6250.00 yuan/ton, a decrease of 6.02% compared to the beginning of last month (6650.00 yuan/ton). This is mainly due to the sustained weakness of the demand side, strong downstream wait-and-see sentiment, and only maintaining essential procurement, with extremely low willingness to hoard a large amount of goods.

The current market downturn is the result of multiple factors from both the supply and demand sides working together:
1. Supply pressure continues to increase: In the second half of 2025, the domestic acrylic acid industry still plans to put into operation over 600000 tons or even 740000 tons of new production capacity. This has once again escalated the supply pressure in the industry. Although the industry’s operating rate remains at a low to medium level of around 68%, attempting to balance supply and demand through load reduction, the social inventory is moderately high, and inventory pressure continues to exist.
2. Weak performance on the demand side: Downstream main areas (such as coatings, adhesives, textile auxiliaries) have insufficient purchasing enthusiasm and generally hold a bearish or cautious attitude, mainly focusing on replenishing inventory for essential needs, with widespread price cutting behavior. The export market is also not optimistic. In the first half of 2025, the export volume of butyl acrylate in China decreased by 13.42% year-on-year, which cannot effectively divert domestic supply pressure. The traditional demand side (such as oil extraction, water treatment, papermaking, etc.) is hindered by the global economic downturn, making it difficult to achieve significant growth.
3. Cost support and game theory: Although the price of the main raw material propylene has increased compared to early August, on September 1st, the benchmark price of propylene in Shengyi Society was 6663.25 yuan/ton, an increase of 3.58% compared to early last month (6433.25 yuan/ton). At the current price level, some factories are already near the breakeven line or even at a loss, so the profit margin for manufacturers is extremely limited, and they have a strong willingness to raise prices. The market is in a fierce game of “cost support” and “weak demand”.
Future Prospects
In the short term, the acrylic acid market will continue to consolidate at a low level, with limited upward and downward space. Unless there is an unexpected improvement on the demand side (such as large-scale downstream centralized procurement, a significant increase in export orders), or a significant increase in the cost side (propylene) price, it is difficult for prices to continue to rise. If the price of propylene on the cost side collapses or downstream demand remains sluggish, high inventory and weak demand will continue to suppress the market.
In the medium to long term, the acrylic acid industry is undergoing a transition from “scale competition” to “technology premium era”. Top enterprises rely on technological iteration and industrial chain integration to build barriers, while small and medium-sized enterprises face increased survival pressure due to insufficient technological investment, making it difficult to meet high-end demands such as medical grade and electronic grade acrylic acid.
In summary, the core feature of the current market is the intense game between “weak demand” and “high cost”, which leads to a dilemma of price fluctuations and an overall shift in focus. Market participants generally adopt a wait-and-see attitude.

The phthalic anhydride market hit bottom and rebounded in August

According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the price of phthalic anhydride in neighboring countries was 6300 yuan/ton, a fluctuating decrease of 5.26% compared to the price of 6650 yuan/ton on August 1st. In August, the price of phthalic anhydride fluctuated and fell, while the price of industrial naphthalene hit the bottom and rebounded. The cost support of phthalic anhydride was significant, and the equipment load of phthalic anhydride stabilized at a low level in August. The operating rate of phthalic anhydride enterprises was about 60%, and the supply of phthalic anhydride decreased. The downstream plasticizer market fluctuated and fell, and the equipment operating load of plasticizer enterprises stabilized at a high level. The demand support for phthalic anhydride still exists. Supply reduction and cost reduction led to a rebound in phthalic anhydride prices in August.
The cost of phthalic anhydride has decreased, and the supply has decreased
At the end of August, Sinopec’s ortho benzene quotation was 6300 yuan/ton, which fluctuated and fell by 7.35% compared to the ortho benzene quotation of 6800 yuan/ton at the beginning of August. The price of industrial naphthalene rebounded from the bottom, the price of ortho benzene fell, the cost of phthalic anhydride rebounded from the bottom, the downward pressure on phthalic anhydride weakened, and the price of phthalic anhydride fell. At the end of the month, the price of naphthalene phthalic anhydride was 6100-6200 yuan/ton, and the price of ortho phthalic anhydride was 6200-6300 yuan/ton. In August, the operating load of phthalic anhydride equipment was consolidated at a low level, and the operating rate of phthalic anhydride enterprises was about 60%, resulting in a decrease in phthalic anhydride supply.
Demand side: Downstream production starts at high levels, consolidation of DOP prices, fluctuation and decline
According to the Commodity Market Analysis System of Shengyi Society, as of August 29th, the DOP price was 7617.50 yuan/ton, a fluctuating decrease of 4.25% compared to the DOP price of 7955.83 yuan/ton on August 1st. Cost reduction and increasing pressure for DOP decline; In August, the operating load of DOP enterprises was consolidated at a high level, and the production of DOP increased. The demand for phthalic anhydride also increased, and the support for the rise in phthalic anhydride in August increased.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies are operating at a high level of consolidation, plasticizer production is increasing, and demand for phthalic anhydride is recovering; In terms of supply, the equipment operating load of phthalic anhydride enterprises has been consolidated at a low level, resulting in a decrease in phthalic anhydride supply. In terms of cost, the price of ortho benzene has dropped significantly, the price of industrial naphthalene has hit bottom and rebounded, and the cost of phthalic anhydride has hit bottom and rebounded. In the future, with a decrease in supply and a rebound in demand for phthalic anhydride, coupled with a bottoming out and rebound in costs, it is expected that phthalic anhydride prices will bottom out and rebound in the future.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic polyester staple fiber fluctuated and adjusted in August. As of August 31, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6536 yuan/ton, a decrease of 0.61% from the beginning of the month. In August, the price of polyester staple fiber fluctuated with costs, showing a trend of first falling, then rising, and then falling back.

The crude oil market is intertwined with long and short factors, and will continue to face complex situations in the short term. On the supply side, the geopolitical risks between Russia and Ukraine have escalated due to Trump’s deadline for negotiations, raising concerns about supply disruptions. On the demand side, both US crude oil inventories and Cushing crude oil inventories have decreased, while strategic petroleum reserve inventories have increased, providing support for oil prices. However, the implementation of US tariffs on India’s purchase of Russian crude oil may be hindered. As of August 26th, the settlement price of the October WTI crude oil futures contract in the United States was $63.25 per barrel, and the settlement price of the October Brent crude oil futures contract was $67.22 per barrel. The future still needs to focus on the progress of the Russia Ukraine situation and the policy guidelines of the OPEC meeting on September 7th.
The domestic PTA market rebounded after a decline, with an average price of 4891 yuan/ton in the East China region as of August 29th, an increase of 1.45% from the beginning of the month. In the first ten days, OPEC+increased production, crude oil continued to decline, and market prices fell due to expectations of self accumulation. In the second half of the year, the petrochemical industry experienced a rebound and PTA units suffered unplanned losses, leading to a significant increase in market prices. At the end of the month, concerns about weakened supply and demand led to a sharp decline in market prices from high levels. In terms of PTA supply, some factories have undergone equipment maintenance, and the industry’s operating rate is around 68%, but the market supply is stable and there has been no shortage of goods. In early September, three sets of PTA plants with capacities of 2.25 million tons, 2.2 million tons, and 4.5 million tons will be restarted one after another, and the supply and demand of the industry will shift from destocking to loose balance.
On the demand side, the downstream weaving industry has entered a traditional off-season, and the consumption of textile and clothing at the end is weak, resulting in slow upward transmission. Therefore, polyester short fibers are mostly purchased on demand, lacking the motivation for large-scale stocking. In addition, the tariff dispute is not limited and affects the export situation of terminal textiles and clothing. Whether the peak season in September this year can start as scheduled and boost the short fiber market still needs to be carefully observed. If there is no substantial improvement in terminal demand in September and the growth of weaving enterprise orders is lower than expected, the short fiber “peak season market” may be difficult to fulfill, and the market may still operate weakly.
Business analysts believe that the supply of PTA maintenance equipment will return in September, and the maintenance is still uncertain, so the supply may increase. The downstream market expects the traditional peak season in September to inject a stimulant into the market. However, in the absence of clear direction guidance, it is expected that the short-term prices of polyester staple fibers will continue to experience a narrow adjustment trend.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda on August 26th was 1249 yuan/ton, a decrease of 33.24% compared to the same period last year. On August 25th, the Business Society Baking Soda Index was 82.90, a decrease of 0.01 points from yesterday, setting a new historical low for the cycle, and a decrease of 64.85% from the highest point of 235.84 points on November 10, 2021. (Note: Cycle refers to September 1, 2020 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of baking soda is running steadily, and the company’s shipments are still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1270 yuan/ton in Henan region and 1200-1300 yuan/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage. Upstream: According to the commodity analysis system of Shengyi Society, the price of soda ash has been consolidating this week. The current market average price is 1220 yuan/ton, a decrease of 32.6% compared to the same period last year, and downstream purchases are mostly made on demand.
Business analysts believe that the price of baking soda has been consolidating recently, and the upstream raw material soda ash has also been consolidating recently. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, and demand enthusiasm for baking soda is still acceptable. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.

1、 Price trend

According to data monitored by Shengyi Society, as of August 25th, the average price of industrial grade high-quality cyclohexane in China is currently 7266 yuan/ton, with limited cost support and weak downstream demand for cyclohexane. There is insufficient room for price increases, and traders are cautious in their operations, with little willingness to hoard.
2、 Market analysis
Market wise: Currently, the cyclohexane market is mainly operating steadily, with cautious downstream operations and poor cost support. Downstream hoarding intentions are not strong, customer operations are cautious, and downstream essential purchases are the main focus. Currently, there is sufficient spot supply, slow shipments, and a stable on-site mentality with a wait-and-see attitude. The overall market negotiation focus is stable, factory shipments are not under pressure, and profits are still considerable. The overall market is moving upwards, and it is expected to maintain the current trend in the short term.
Upstream aspect: Upstream prices remain stable, but cost support is not significant. The overall market has a strong wait-and-see attitude, cautious operations, smooth overall market shipments, normal downstream shipments, and smooth logistics. Most of the shipments are based on cooperative orders, with limited new orders and sufficient market supply without pressure. It is expected to maintain a strong trend in the short term, with limited new customer orders.
Downstream: Currently, downstream demand is average and the market is running steadily. The cyclohexanone plant is producing normally, but the supply in Inner Mongolia has decreased, with limited room for growth. The overall market purchasing enthusiasm is not good, and the sentiment is low. The cyclohexanone market in South China is consolidating and operating, and downstream purchases are made according to demand, resulting in stable spot supply in the market.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the current demand in the cyclohexane market is average, downstream demand is weak, upstream cost support is poor, and the driving force for price increases is insufficient. It is expected that the cyclohexane market will remain stable in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market is temporarily stable this week. On August 18th, the market price of aniline was 7550 yuan/ton, and on August 22nd it was 7550 yuan/ton. There was no increase or decrease during the week, a decrease of 27.09% compared to the same period last year.
2、 Analysis and Review
This week, there was a stalemate in the sorting and operation of aniline in Shandong. Aniline companies face significant inventory pressure, with downstream demand being the main factor and small order transactions being the main focus. The raw material pure benzene is operating with a narrow range of fluctuations, and the cost support is still acceptable. However, the market lacks favorable support, and the aniline market is consolidating and running.
Cost wise: Pure benzene has fluctuated slightly this week. As the end of the month approaches, downstream procurement is coming to an end, and the pressure on intermediaries to ship is increasing, resulting in a downward shift in the focus of transactions. Overall, with the increase in import volume and the production of new production capacity, the demand side is struggling to keep up, and the fundamentals are weak, resulting in a sluggish rise in the pure benzene market.
3、 Future expectations
Currently, the inventory of aniline enterprises is not smooth, and the focus of transactions has loosened. It is expected that the aniline market will operate weakly in the short term.

Recently, the acrylic acid market has shown an overall trend of range consolidation, with the game between supply and demand becoming the core factor driving price trends. As of August 18th, the benchmark price of acrylic acid in Shengyi Society was 6200.00 yuan/ton, a decrease of 6.77% compared to the beginning of this month (6650.00 yuan/ton).

Supply side:
From the supply side, some production facilities entered the maintenance phase in August, but at the same time, other enterprises have made up for the gap by increasing production load. The overall operating rate of the industry has remained at a level of 70% -80%, and there has been no significant fluctuation in market supply. In terms of inventory, as most companies adopt a strategy of production based on sales, social inventory has not significantly accumulated, and some manufacturers still maintain a strong willingness to raise prices. However, imported goods from Southeast Asia and other regions have gradually arrived at the port, supplementing the market supply to a certain extent and limiting the room for price increases.
Demand side:
The demand side performance is relatively flat, and downstream industry procurement is mainly based on rigid demand, lacking strong incremental support. Specifically, the demand for acrylic products such as adhesives and coatings has been affected by the slow recovery of the real estate and infrastructure industries, resulting in a relatively weak performance; The field of superabsorbent resin (SAP) has performed well due to stable demand for hygiene products, but export orders have limited growth due to the sluggish overseas economy; The demand for textile auxiliaries and other application fields also lacks highlights. Downstream enterprises have a low acceptance of high priced goods, and their purchasing mentality is cautious. Market transactions are mainly small and medium-sized orders, making it difficult to drive prices up significantly.
In terms of cost, the ex factory price in East China remains around 6000-6200 yuan/ton, which can still provide cost support for acrylic acid. However, due to the significant drop in the price of acrylic acid (the mainstream price in East China is about 7800-8000 yuan/ton) compared to the beginning of the year, the profit margin of non integrated production enterprises has been compressed to near the cost line, and the space for further price reduction is relatively limited, which also makes the market bottom support relatively stable.
Affected by the unexpected parking of the main PDH, triggering a strong rebound in propylene prices. Recently, the northern propylene market was disrupted by the parking news of a 750000 ton/year PDH plant, breaking the regional supply-demand balance pattern. The mainstream price in Shandong rebounded from 6300 yuan/ton to a high of 6565 yuan/ton, up 265 yuan (+4.20%) month on month, marking the largest weekly increase in recent times. As of August 18th, the benchmark price of propylene in Shengyi Society was 6570.75 yuan/ton, an increase of 2.14% compared to the beginning of this month (6433.25 yuan/ton). The current upward trend is dominated by sudden supply contraction, but downstream resistance and potential supply growth will constrain the upward space, and the combination of long and short factors will put significant pressure on the upper side.

Looking ahead to the future, the acrylic acid market may continue to maintain a range consolidation pattern in the short term, driven by both upward and downward factors. If the infrastructure stimulus policies are intensified or overseas demand rebounds in the second half of the year, there may be marginal improvement in the demand side of acrylic acid, which will drive up prices slightly; If the new production capacity is put into operation as scheduled or downstream demand continues to be sluggish, the market may face certain downward pressure. In addition, fluctuations in raw material propylene and energy prices, adjustments in manufacturers’ inventory strategies, and speculative sentiment among traders will also have a significant impact on market trends. Overall, in the absence of a clear unilateral driving force, the price of acrylic acid is expected to fluctuate within the range of 6000-6400 yuan/ton.