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.

According to the Commodity Market Analysis System of Shengyi Society, from August 4th to 8th, the average price of BDO in China fell from 8400 yuan/ton to 8371 yuan/ton, with a price drop of 0.34% during the period, a month on month drop of 4.17%, and a year-on-year drop of 4.87%. The supply has decreased, while the main downstream industries have slightly increased production, resulting in an increase in raw material digestion, but the supply is still significantly higher than demand. Holders lack confidence in the future market and engage in negotiations to offer discounts on actual orders, resulting in a volatile downward trend in the domestic BDO market.

On the supply side, the Shaanxi unit has been shut down for maintenance, Xinjiang has experienced short-term shutdowns due to boiler issues, and other units are operating stably. The industry supply has once again decreased, and the supply side support has slightly increased. The supply side of BDO is affected by negative factors.
On the cost side, raw material calcium carbide: Domestic calcium carbide prices have bottomed out and rebounded, with the main reason for the price increase being changes in the market supply and demand environment. With the sustained low prices in the early stage, the losses of production enterprises have deepened, and the recent rise in raw material costs such as orchid charcoal and electricity in Ningxia has led to an increase in shutdown facilities, and some enterprises have reduced their operating loads. Raw material methanol: The domestic methanol market is weak and consolidating. As of 3:00 pm on August 8th, the reference price for domestic methanol in Taicang is 2380 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, downstream PTMEG, PU slurry and other industries have seen an increase in production, while PBT and PBAT have seen a decline in production. There has been no significant change in the load of other industries, and the overall demand for raw materials has increased, but the supply is significantly higher than the demand, resulting in continued supply and demand pressure. At the same time, multiple downstream industries are experiencing a decline in market conditions, resulting in a weak ability to accept high prices for raw materials and severe pressure on prices when entering the market. The demand side of BDO is affected by bearish factors.
In the future forecast, the supply of BDO market will increase, while the demand will slightly decrease, and the imbalance between supply and demand in the industry will continue. Moreover, many downstream industries are experiencing weak fluctuations, with cost pressures and severe bargaining over raw materials. The BDO analyst from Shengyi Society predicts that the domestic BDO market will mainly be dominated by weak consolidation.

According to the Commodity Market Analysis System of Shengyi Society, the price trend of acetic acid has increased this week. As of the 31st, the average market price of acetic acid was 2400 yuan/ton, an increase of 50 yuan/ton from the price of 2350 yuan/ton on July 28th, an increase of 2.13%. The domestic acetic acid market is operating differently, with prices rising in Shandong and market performance declining in South China. The production rate of acetic acid on the supply side is relatively high, and the market supply is sufficient. In terms of demand, downstream purchases are made according to demand, and shipments vary from region to region on site. Acetic acid companies adjust their quotations based on their own inventory situation, and the overall market consumption is limited. The acetic acid market is being observed and organized.

The upstream methanol market first rose and then fell. As of the 31st, the average price in the domestic market was 2393.33 yuan/ton, with little fluctuation compared to the price of 2392.50 yuan/ton on July 28th. At the end of the month, boosted by macroeconomic policies, the prices of methanol in ports and spot markets were relatively strong. However, due to weak downstream demand, the trading atmosphere in the market was poor, and on-site shipments were restricted, resulting in a further decline in the methanol market.
The downstream acetic anhydride market remains stable and watchful, with an average ex factory price of 4092.50 yuan/ton from July 28th to 31st. The upstream acetic acid market is relatively strong and stable, but the market purchasing atmosphere is average, with limited support for acetic anhydride. Downstream market entry is mainly based on demand, and market trading is steadily following. Acetic anhydride prices have remained stable throughout the cycle.
Market forecast: Business Society’s acetic acid analyst believes that the domestic acetic acid production capacity utilization rate is high, the market inventory performance is sufficient, the enterprise’s shipping intention is obvious, downstream transactions are limited, and the enthusiasm for acetic acid procurement is not high. The supply situation on the market is greater than demand, and it is expected that the acetic acid market will consolidate weakly in the short term. We will pay attention to downstream follow-up in the future.

According to the Commodity Market Analysis System of Shengyi Society, as of July 30th, the average production price of ethyl acetate was 5433.33 yuan/ton, a decrease of 16.67 yuan/ton compared to the beginning of the month price of 5450.00 yuan/ton, with an overall decline of 0.31%. The main reason is the weak market situation on the raw material side, with a negative cost outlook. At the same time, downstream demand is limited, and enterprise shipments are weak. The market mentality is not good, and the price of ethyl acetate is running weakly.

Market analysis: This month, the ethyl acetate market has been weak and volatile. At the beginning of the month, the downstream market showed good enthusiasm for entering the market, with smooth shipments of ethyl acetate and a strong upward trend in prices. However, with the continuous decline of raw material prices and the negative impact of cost factors, the market mentality of ethyl acetate was weak, leading to a decline in ethyl acetate prices. At the same time, downstream demand followed suit, with limited market transactions and weak upward momentum in ethyl acetate prices. At the end of the month, the upstream market was strong, and market sentiment rose slightly, resulting in a slight increase in ethyl acetate prices.
According to the Business Society Acetic Acid Commodity Market Analysis System, as of July 30th, the price was 2400.00 yuan/ton, a decrease of 3.61% compared to the acetic acid price of 2490.00 yuan/ton at the beginning of the month. The weak trend of acetic acid prices continues, and the cost support for ethyl acetate is weak. Downstream consumption is slow, and acetic acid companies have average shipments. The market supply is strong and demand is weak, and the focus of acetic acid transactions continues to decline.
Looking at the future, the ethyl acetate market is currently experiencing a slight upward trend, with low operating rates on the supply side and stable downstream follow-up. The on-site mentality is mainly wait-and-see, and prices in the raw material region are fluctuating, with limited cost support. It is expected that the price of ethyl acetate will stabilize in the future, and specific attention will be paid to changes in supplier equipment and downstream follow-up.