At the beginning of September, the cost of anhydrous hydrogen fluoride enterprises was inverted, and the market hit bottom and pulled back. According to the analysis system of Shengyi Society, as of September 1st, the benchmark price of hydrofluoric acid in Shengyi Society was 11466.67 yuan/ton, an increase of 7.67% from the end of August.

On the raw material side: This week, the domestic supply of fluorite is tight, with prices rising, putting high pressure on the cost of hydrogen fluoride. As of September 1st, the benchmark price of fluorite in Shengyi Society was 3268.75 yuan/ton, an increase of 4.18% compared to the beginning of last month (3137.50 yuan/ton). The current situation of the game in the domestic fluorite industry still exists. 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. The sustained high price of fluorite puts pressure on the cost of hydrofluoric acid, and production enterprises still face the pressure of losses, resulting in cost inversion. The price of hydrofluoric acid industry has hit bottom and rebounded.
On the demand side: Downstream is experiencing the traditional peak season of “Golden September and Silver October”, with strong upward sentiment in the industry. Some downstream enterprises are gradually increasing their raw material inventory, but due to the impact of capital flow, only small orders are increasing in volume. Most companies still prioritize restocking for essential needs. It is expected that the price trend of hydrogen fluoride will be strong in the short term.
Market forecast: The price of raw material fluorite will rise, the cost of hydrofluoric acid will be under high pressure, and production enterprises will still face loss pressure. Downstream terminal demand is average, and only a small number of orders will be signed. It is expected that the anhydrous hydrogen fluoride market will continue to have a strong trend in the later stage. More attention should be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, the xylene market will experience a volatile downward trend in August 2025. From August 1st to 29th, the domestic market price of xylene fell from 6070 yuan/ton to 5680 yuan/ton, with a cumulative decrease of 6.43% during the period.

In the first half of this cycle, the overall decline of the domestic mixed xylene market and the overall weakness of the crude oil market dragged down the mentality of the spot market. Affected by low downstream purchasing intentions, the factory prices in Shandong have been continuously lowered. During the week, the supply in East and South China was relatively loose, downstream demand was weak, and overall market prices declined.
Late period: The xylene market experienced relatively small fluctuations in this cycle, with only a narrow downward adjustment. The listing prices of the main refineries in Shandong Province have been slightly reduced, with a narrow adjustment. Downstream chemical enterprises have still shown positive enthusiasm for entering the market, and the market trend is relatively stable. Downstream in both East and South China regions urgently need to replenish inventory, and the market performance is relatively stable. The factory prices of surrounding main refineries remain firm, and the supply and demand situation is relatively stable.
Cost wise: As of the 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. During this round of price adjustment cycle, crude oil prices were mainly volatile. On the one hand, OPEC+announced a cumulative increase in production of 2.3 million barrels per day by September, marking the organization’s exit from its plan to reduce production by over 2.2 million barrels per day one year ahead of schedule. This news is bearish for the oil market. On the other hand, the tense situation in Europe and the upcoming peace talks have led to a weakening of geopolitical supply risks, negative global macro data, and the expectation of the Federal Reserve’s interest rate cut in September, making it difficult for the crude oil market to have positive support.
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 29th, East China Company quoted 5700 yuan/ton, North China Company quoted 5600-5750 yuan/ton, South China Company quoted 5750 yuan/ton, and Central China Company quoted 5600-5650 yuan/ton.
Demand side:
According to the Commodity Market Analysis System of Shengyi Society, as of August 29, 2025, the price of xylene by Sinopec Sales Company has temporarily stabilized, with a current execution price of 7200 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 and selling normally, with a price reduction of 50 yuan/ton compared to July 30. As of August 28th, the closing prices of the xylene market in Asia were $822-824/ton FOB Korea and $847-849/ton CFR China, a decrease of 19 yuan/ton from July 30th.
Market forecast: In terms of supply, the recent changes are relatively small, and the overall export situation of enterprises is relatively stable. In terms of shipping schedules, the recent arrival situation at ports is still acceptable, and the overall performance of the supply side is relatively stable. On the demand side, there is little room for further increase in the operating rate of PX enterprises in the near future, and the purchasing intention in the future is relatively stable. The performance of the oil blending market is biased towards demand. Overall, under the weak impact of supply and demand, it is expected that the xylene market will mainly operate steadily with a moderate to weak trend.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic PVC spot market did not continue the upward trend of the previous month in August, and the market fluctuated and fell. As of August 29th, the average price of PVC in China was 4676 yuan/ton, a decrease of 2.83% for the whole month.
2、 Market analysis
In the first half of this month, the PVC spot market maintained a range of fluctuations, with prices rising and falling. In the second half, the negative impact of supply and demand fundamentals led to a reversal of PVC prices and further deepening of the decline.
Specifically, on the one hand, there is insufficient cost support, which is affected by weak upstream crude oil and ethylene. Combined with the suppression of the futures market, the futures market has been fluctuating weakly, while spot prices have followed the market trend and fluctuated downward. On the other hand, there is a certain pressure on supply and demand, and the spot market has not yet escaped the downward channel. On the supply and demand side, the operating rate remains high, production continues to increase, and there is a slight oversupply. At present, there is no signal of bottoming out and stabilizing in the market. Downstream procurement is mainly based on spot prices, with low enthusiasm for inquiry based procurement and a sluggish market atmosphere. The hanging order price is relatively low. Overall, it is still mainly driven by basic needs, and the trading atmosphere is average. As of August 29th, the mainstream price range for PVC SG5 electrical aggregate in China is mostly around 4700-4800 yuan/ton.
In terms of upstream calcium carbide, since August, the price of calcium carbide has continued the weak and volatile trend of the previous two months. According to data monitored by Business Society, the price of calcium carbide fell by 0.28% in August. Overall, calcium carbide lacks positive guidance and has limited support. With the weak performance of downstream PVC market, the price of calcium carbide may not stabilize and improve in the near future.
3、 Future forecast
The PVC analyst from Shengyi Society believes that the supply and demand of PVC will continue to remain weak in the short term, mainly due to the sustained high operating rates of manufacturers and the high inventory levels of both enterprises and the market. There is also an impact of policy uncertainty in the medium and long term. The PVC pressure is still relatively high in the later stage. It is expected that PVC prices will remain weak in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid has remained stable recently, with an average market price of 2400 yuan/ton on the 25th, which is the same as the price of 2400 yuan/ton on August 18th. Domestic acetic acid prices remain stable with small fluctuations, and the market operates with differentiation. The utilization rate of production capacity on the supply side has slightly decreased, the inventory pressure of enterprises is not high, downstream replenishment is on demand, market trading is still acceptable, and the shipment market of enterprises is observing and organizing.

Recently, the upstream methanol market has been weak and volatile. As of the 25th, the average price in the domestic market was 2306.67 yuan/ton, a decrease of 0.52% compared to the price of 2318.67 yuan/ton on August 18th. Domestic methanol facilities have resumed production, with average demand for spot goods. The support of the mainland market is slightly insufficient, and downstream demand for high prices is not smooth. The market trading atmosphere is poor, and the focus of methanol transactions is weak and fluctuating.
The downstream acetic anhydride market is operating weakly and steadily, with an average ex factory price of 4082.50 yuan/ton from August 18th to 25th. The upstream acetic acid inventory remains high, and the market trading atmosphere is mixed, with limited support for acetic anhydride. Downstream purchases are mainly driven by rigid demand, and market transactions are flat. The supply and demand of acetic anhydride market are relatively balanced, and the price of acetic anhydride is stable and wait-and-see during the cycle.
Market forecast: Business Society’s acetic acid analyst believes that the domestic acetic acid production capacity utilization rate will remain at a high level, the market supply will be sufficient, and sales in different regions of the market will vary. However, downstream demand will mainly follow up according to demand, and overall stocking demand will be limited. The market fundamentals supply is relatively high. It is expected that the acetic acid market will be observed and consolidated in the later stage, and downstream follow-up will be closely monitored in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of August 25th, the reference average price of 85% industrial grade thermal phosphoric acid in China is 6700 yuan/ton, which is stable compared to the reference average price of 6700 yuan/ton on August 18th.
2、 Market analysis
Market Aspects
This week’s domestic phosphoric acid market price consolidation is the main focus. As of August 25th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6400-6850 yuan/ton, in Yunnan region it is around 6500 yuan/ton, and in Sichuan region it is around 6400-6800 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. The market price of raw material yellow phosphorus has slightly increased this week. The inventory of yellow phosphorus market is tight, and the market transaction atmosphere is good. Downstream purchases are mostly low-priced, and caution is still the main focus. Expected short-term consolidation and operation of yellow phosphorus prices.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been running steadily in recent days. At present, the market for raw material yellow phosphorus is mainly in a state of stagnation and consolidation, and there is still support for costs. The supply and demand of the phosphoric acid market are stable, and downstream purchases are cautious. It is expected that the domestic phosphoric acid market will consolidate and operate in the short term.

According to the Commodity Analysis System of Shengyi Society, the styrene market saw a slight increase this week, with an average price of 7568 yuan/ton at the beginning of the week and 7594 yuan/ton over the weekend, representing a 0.34% increase during the week.

News: On August 21st, international crude oil futures continued to rise. The settlement price of the October WTI crude oil futures contract in the United States was $63.52 per barrel, an increase of $0.81 or 1.3%. The settlement price of Brent crude oil futures for October was $67.67 per barrel, an increase of $0.83 or 1.2%.
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.
Supply and demand side: The profit of styrene is still acceptable, with high production and supply maintaining a high level. There are no new parking facilities added this week, and the downstream 3S production load has increased. However, high port inventory limits the rise of styrene.
Styrene external market: On August 21st, the closing prices of the styrene market in Asia remained stable, with closing prices of $880-890/ton FOB Korea and $890-900/ton CFR China.
Market forecast: The current fundamentals of the styrene market have limited driving force, coupled with general support from international oil prices. Without significant changes on a macro level, it is expected that the styrene market will experience weak fluctuations in the short term.

According to the Commodity Market Analysis System of Shengyi Society, formic acid prices have been mainly profit driven recently. As of August 18th, the benchmark price of 85% industrial grade formic acid in China was 3360 yuan/ton, an increase of 25.84% from the beginning of the month, a month on month increase of 40%, and a year-on-year increase of 21%.

Mainstream manufacturers adopt a limited supply strategy, resulting in a significant reduction in the supply side
The implementation of quantity control sales policies by mainstream domestic enterprises has led to continuous tightening of the market supply side, low operating rates of manufacturers, and historically low levels of formic acid inventory.
Parallel low demand and low inventory in formic acid market
The current price increase lacks substantial demand support, and domestic terminals are still purchasing according to their basic needs. The market trading atmosphere is stable, and the current inventory pressure may continue to accumulate. Coupled with the impact of the traditional off-season demand, there is no further upward momentum.
Enterprises still have plans to reduce production
At present, a major producer in Shandong Province is planning to reduce production due to important event preparations, resulting in a tight market supply situation.
According to data analysts from Shengyi Society, the tight supply situation is difficult to change. Shandong’s production restrictions will continue until the end of the event (expected in early September), coupled with support from export orders, prices may remain volatile at a high level. Specific changes in market supply and demand still need to be monitored.

According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China has experienced a downward trend this week. As of August 15th, the average market price in East China was 16066 yuan/ton. On August 11th, the average price was 16433 yuan/ton, a decrease of 2.23% during the week and a year-on-year increase of 13.95%.

The TDI market is experiencing a downward trend this week. High prices, low enthusiasm for downstream market entry, essential support, and low transaction volume. Partial profit taking is fast in and out, with a slight downward shift in the price center of gravity. The supplier’s quotation is firm, but the supply of goods is still tight. Under the game of supply and demand, the TDI market transaction price is loose.
Supply side: Xinjiang will stop for maintenance on July 16th, lasting about 35 days; Gansu stopped for maintenance on July 27th, lasting about 10-15 days. Hebei plans to temporarily stop for maintenance in mid August, lasting about 7 days.
Cost aspect: The price of toluene remains stable, with an average price of 5560 yuan/ton. The toluene market is affected by macro factors, with weak demand restraining prices.
In terms of future analysis, TDI data analysts from Shengyi Society believe that the TDI market will continue to maintain a tight supply situation. With the support of overseas orders, it is expected that the TDI market will continue to fluctuate within a certain range in the short term. We will closely monitor changes in market supply and demand as well as news sources.

The bidding price for hydrogen fluoride in August decreased by 100-200 yuan/ton compared to the previous month. According to the analysis system of Shengyi Society, as of August 13th, the benchmark price of hydrofluoric acid in Shengyi Society was 10650 yuan/ton, a decrease of -1.39% from the end of July.

On the raw material side, domestic fluorite prices have remained stable this week, while the cost of hydrogen fluoride remains under high pressure. As of August 13th, the benchmark price of fluorite in Shengyi Society was 3156.25 yuan/ton, an increase of 0.60% compared to the beginning of this month (3137.50 yuan/ton). The current situation of the game in the domestic fluorite industry still exists. 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. The sustained high price of fluorite has put pressure on the cost of hydrofluoric acid, and there is still pressure for production enterprises to incur losses. The purchasing sentiment for high priced fluorite raw materials is relatively low, and it is expected that the hydrofluoric acid industry will continue to operate weakly and consolidate.
Demand side: The downstream refrigerant market has weak terminal demand, low stocking enthusiasm, and mainly purchases upstream products on demand, with a strong wait-and-see attitude. The market trading atmosphere is cold, and some companies have reduced their raw material demand due to profit losses.
Market forecast: The price of raw material fluorite remains high and firm, while the cost of hydrofluoric acid is under pressure. There is still pressure for production enterprises to incur losses, and downstream terminal demand is weak. Market trading is not smooth, and it is expected that the anhydrous hydrogen fluoride market will continue to operate weakly and consolidate in the later stage. More attention should be paid to changes in market supply and demand.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of August 11th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6710 yuan/ton, which is 0.30% higher than the reference average price of 6690 yuan/ton on August 4th.
2、 Market analysis
Market Aspects
This week, the domestic phosphoric acid market prices have slightly increased. As of August 11th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6400-6850 yuan/ton, in Yunnan region it is around 6500 yuan/ton, and in Sichuan region it is around 6450-6850 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. This week, the market price of raw material yellow phosphorus has shown a strong upward trend. At the beginning of the week, due to supply support, manufacturers mainly raised prices, and the market price of yellow phosphorus increased. After the rise of yellow phosphorus, downstream customers are cautious in receiving goods, and prices are starting to loosen. Expected short-term consolidation and operation of yellow phosphorus prices.
3、 Future forecast
The phosphoric acid analyst from Shengyi Society believes that the recent phosphoric acid market has been mainly stable. The raw material yellow phosphorus is running at a stalemate, and the cost support is weakened. The phosphoric acid market has stable trading and downstream purchases are made on demand. It is expected that the domestic phosphoric acid market will mainly experience narrow fluctuations in the short term.