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.

This week, the domestic fluorite price trend has risen. As of the weekend, the average domestic fluorite price was 3168.75 yuan/ton, an increase of 0.40% from the beginning of the week price of 3156.25 yuan/ton, and a year-on-year decrease of 8.48%.

Supply side: The mine is operating normally, and the supply of fluorite is normal
The current situation of the game in the domestic fluorite industry still exists, and overall, the operating rate of enterprises has increased. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. However, with the rise of temperature, northern enterprises are operating normally, and the supply of fluorite enterprises in the field has not changed much. Some fluorite manufacturers have appropriate inventory, and fluorite mining enterprises are raising prices and holding up shipments, resulting in a rise in the fluorite market.
Demand side: Low price of hydrofluoric acid, acceptable refrigerant market
This week, the domestic price of hydrofluoric acid remained low, and the mainstream price for hydrofluoric acid in various regions of China was negotiated at 9800-10300 yuan/ton. The downstream hydrofluoric acid equipment is still in shutdown, and there is little change in the spot supply of hydrofluoric acid. Manufacturers mainly purchase hydrofluoric acid on demand, and the overall production of hydrofluoric acid remains at more than 50%. Fluorine enterprises maintain essential orders, and hydrofluoric acid enterprises are in a loss making state. They are not actively purchasing raw fluorite, and downstream merchants have a strong wait-and-see attitude. Both buyers and sellers have weak expectations for the future market due to poor demand digestion. The price increase of fluorite is not significant due to this news.
The downstream refrigerant market is on the rise, and the refrigerant industry is making efforts in terminal policies. Demand is expected to achieve substantial improvement. Fluorine chemical enterprises within quota control have strong confidence in raising prices in the refrigerant market. Currently, the pace of purchasing at high prices is relatively slow, but the industry’s inventory is transmitted in a positive and orderly manner, and upstream products are mainly purchased on demand. The trend of refrigerant market has increased, and the fluorite market has risen.
In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as in national defense, nuclear industry and other fields, including lithium hexafluorophosphate, PVDF、 Graphite negative electrodes, photovoltaic panels, etc., have received certain support in the application of fluorite due to the demand for new energy and semiconductors.
Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production for safety inspections. The tight supply of fluorite mines is a positive support for the fluorite market, and the mentality of buying up rather than buying down is obvious; However, hydrofluoric acid enterprises mainly purchase according to demand, and there is no actual increase in demand. In addition, the hydrofluoric acid market remains low, and both long and short factors jointly affect it. Overall, the price of fluorite market is prone to rise but difficult to fall in the short term.

Entering August, it is expected that the production will decrease by about 2900 tons to about 12300 tons, a decrease of about 19% compared to the previous month. Currently, the daily production of MIBK in China is about 380 tons, and the operating rate is around 50%. Due to the parking of production enterprises, it is expected that the industry’s production capacity and operating rate will significantly decline in August.
Business Society predicts that the downstream anti-aging industry will continue to operate weakly, while the supply side will be tight. In the future, with the peak season and the approaching Golden September, downstream demand will rebound, and the market will maintain stable operation in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market has been operating weakly this week. From August 4th to August 11th, 2025, the price of mixed xylene has decreased from 6070 yuan/ton to 5880 yuan/ton, a decrease of 3.13%. The overall domestic mixed xylene market has declined this cycle, and the overall crude oil market has weakened during the week, dragging down the mentality of the spot market. The Shandong region has been affected by low downstream purchasing intentions this week, resulting in a continuous decrease in ex factory prices. During the week, the supply in East and South China was relatively loose, downstream demand was weak, and overall market prices declined.

Cost wise: As of the 8th, the settlement price of the September WTI crude oil futures contract in the United States was $63.88 per barrel. The settlement price of Brent crude oil futures for October contract is $66.59 per barrel. The negative factors in the crude oil market, on the one hand, OPEC+announced a cumulative production increase of 2.3 million barrels per day by September, marking the organization’s exit from the plan to reduce production by over 2.2 million barrels per day one year ahead of schedule, which is bearish for the oil market. On the other hand, the geopolitical situation in the Middle East is affecting the oil market, and global macro data is bearish. Coupled with the fundamental impact of the upcoming off-season for US summer demand, crude oil market prices will continue to be under pressure.
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 August 11th, East China Company quoted 5950 yuan/ton, North China Company quoted 5750-5950 yuan/ton, South China Company quoted 5900-5950 yuan/ton, and Central China Company quoted 5700-5850 yuan/ton.
Demand side:
On August 11th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7000 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. The price remains unchanged compared to August 4th. As of August 8th, the closing prices of the xylene market in Asia were $814-816/ton FOB Korea and $839-841/ton CFR China, a decrease of $20/ton from August 1st.
Market forecast: In terms of supply, some facilities in Shandong will be shut down while others will be put into operation. Currently, the supply in the region is relatively loose. The demand side oil adjustment industry has performed well recently, but there is a urgent need to replenish inventory. The purchasing intention of the chemical industry has been relatively low recently, and it entered the market at a low price. Overall, the demand side is still biased towards rigid demand. The overall supply-demand situation is slightly bearish, and it is expected that the xylene market will remain stable with weak performance in the short term.

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 by Business Society, the domestic titanium dioxide market price has decreased this week. The average price of titanium dioxide on Monday was 13640 yuan/ton, and the market price on Friday was 13480 yuan/ton. The price has been reduced by 1.17%.
2、 Market analysis
This week, the domestic titanium dioxide market prices have been lowered. This week, the domestic titanium dioxide market is still poor. During the off-season, enterprise costs are under pressure, inventory pressure is high, downstream demand is light, terminal stocking is still cautious, and new orders are limited. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 12900-13800 yuan/ton; The price of the titanium type is around 11600-11900 yuan/ton, and the actual transaction price is negotiable.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market price will decrease this week. Downstream market demand is weak, with rigid demand as the main factor. On site inventory is under pressure, and there is significant pressure on enterprise shipments. It is expected that the titanium dioxide market will remain weak and stable in the short term, with actual transaction prices subject to negotiation.