According to the Commodity Market Analysis System of Business Society, the domestic BDO market has rebounded. From May 1st to 30th, the price of BDO increased from 7950 yuan/ton to 8107 yuan/ton, with a price increase of 1.98% during the period and a year-on-year decrease of 10.12%.

In the first half of the month, the industry’s capacity utilization rate increased, and the positive support from the supply side weakened, leading to an increase in cautious bearish sentiment among industry players. However, the overall downstream demand follow-up is still acceptable, and under cost pressure, the supply side is stabilizing the market, resulting in a stalemate in the BDO market center of gravity.
In mid month, with the restart of some facilities, the industry’s capacity utilization rate increased, and supply side support weakened, exacerbating the wait-and-see sentiment in the market. Downstream urgent orders are being followed up, and the transmission of industrial chain costs is not smooth, suppressing the trend of pressure. Supply and demand negotiation game, BDO market situation is operating in a wait-and-see manner.
At the end of the month, the domestic BDO market remained stable with a narrow upward trend. Partial device maintenance, reduced industry capacity utilization, and increased supply side support. Manufacturers actively support the market by implementing a policy of reducing sales. Downstream follow-up on demand, trading on the high end of spot small orders, and narrow upward exploration of market focus.
Supply side: The market supply of goods has decreased. At the same time, some devices released maintenance news in mid to late June, and the online auction premium reached a high position of 8200 yuan/ton. The supplier’s June cycle policy contraction is gradually being implemented, and there is a strong intention to actively support the market, limiting market space. The supply of BDO is affected by favorable factors.
On the cost side, the sudden increase in supply has become the main factor causing the decline in carbide prices. The domestic methanol market is running weakly. As of 10:00 am on May 30th, the domestic methanol Taicang price was 2240 yuan/ton. The weak prices of raw materials such as calcium carbide and methanol have been consolidated, and the cost of BDO has been affected by unfavorable factors.
On the demand side, downstream industries such as PTMEG and PBT have seen an increase in production, leading to an increase in raw material digestion and a cautious and positive attitude towards procurement and sales among industry players. Traders have increased the cost of holding goods and are concerned about settlement losses at the end of the month, with mainstream offers leaning towards the mid to high end. Downstream contract orders are being followed up, and the focus of spot small order transactions has shifted upwards. But with the rise in raw material prices, the profit margins of downstream industries have been compressed, and the bargaining sentiment for entering the market has increased. The impact of BDO demand is mixed.
In the future, with a slight increase in supply in the BDO market and an increase in consumption on the demand side due to the restart of maintenance equipment, prices are expected to continue to rise. However, considering that the downstream has not yet followed the rise in raw material prices, the cost pressure has increased, and the ability to accept high raw material prices is limited, which will limit the increase in raw material prices. Business analyst BDO predicts that the domestic BDO market will mainly recover and consolidate.

According to the Commodity Market Analysis System of Shengyi Society, the domestic 1 # lead ingot market will decline in May 2025, with an average price of 16790 yuan/ton at the beginning of the month and 16475 yuan/ton at the end of the month, a monthly decrease of 1.88%.

On May 30th, the Business Society Lead Index was 100.27, a decrease of 1.18 points from yesterday, a decrease of 25.18% from the highest point of 134.01 points during the cycle (2016-11-29), and an increase of 34.36% from the lowest point of 74.63 points on March 19th, 2015. (Note: The cycle refers to the period from September 1, 2011 to present)
K-bar chart of commodity prices, using the concept of price trend K-line, in the form of a bar chart, reflects the weekly or monthly price changes. Investors can make buying and selling investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-pillar represents the range of rise and fall.
At the beginning of May, due to fluctuations in the macroeconomic environment, lead prices showed a weak start. Afterwards, it gradually stabilized and rebounded in the middle of the month, with fluctuations. A significant pullback at the end of the month broke through the recent low prices.
supply end
At the beginning of the month, the output of primary lead smelting enterprises remained stable, and there was no significant reduction in the overall supply of the lead market.
In the middle of the month, the field of native lead was somewhat impacted. Due to the promotion of environmental inspections and safety production rectification work in some lead mining areas, mining activities have been restricted, which directly leads to a tight supply of lead concentrate. As a result, some primary lead smelting enterprises have had to reduce their production load due to insufficient raw material supply, leading to a significant slowdown in the supply growth rate of the primary lead market. At the same time, the overall growth rate of recycled lead production is relatively limited, making it difficult to fill the rapidly growing demand gap in the market. In this context, lead prices have fluctuated and gradually rebounded.
By the end of the month, although the supply side showed a contraction trend, the weak performance on the demand side was more prominent. The contraction of the supply side’s support for lead prices is difficult to effectively manifest, and the overall supply pattern of the market is still in a loose state, resulting in a pullback in lead prices.
demand side
At present, it is the off-season for lead consumption, and the demand situation of downstream lead-acid battery enterprises is relatively weak. The number of new orders in the terminal market continues to be low, and the operational enthusiasm of production enterprises is generally not high. After resuming production, some enterprises did not reach full capacity and instead arranged production plans based on sales, maintaining a “sales based production” business model. The procurement of raw materials only met basic production needs and adopted a rigid procurement strategy.
Prediction of future trends
It is expected that lead prices will exhibit a volatile trend in the future. From the supply side, the scale of production reduction for recycled lead is gradually expanding due to the tight supply of raw materials; At the same time, some refineries in the primary lead field are undergoing maintenance, which to some extent provides support for lead prices. However, the demand side is currently in the off-season, and battery companies are cautious in their procurement attitudes. Additionally, there is significant pressure from inventory backlog, which in turn puts downward pressure on lead prices.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market fluctuated and fell in May. On May 1st, the market price of aniline was 7532 yuan/ton, and on May 29th it was 7225 yuan/ton, a decrease of 4.08% during the month and a decrease of 40.5% compared to the same period last year.
2、 Analysis and Review
The aniline market in May was mainly affected by raw materials and its own supply and demand. At the beginning of the month, the shipment of pure benzene during the festival was not smooth, and the company’s quotation was lowered. After the holiday, aniline companies lowered their prices accordingly, and the price of aniline fell to 7000 yuan/ton. In the middle of the month, both China and the United States reached an agreement to reduce tariffs, which is beneficial for the commodity market. The raw material pure benzene continues to strengthen, and the listing of pure benzene continues to rise, boosting market confidence. Aniline also rose. At the end of the month, with the weakness of raw materials, the aniline market experienced sluggish sales, and some companies had high inventory, resulting in reduced prices for aniline.
Pure benzene: The pure benzene market fluctuated greatly in May, with overall prices rising compared to the beginning of the month. Supported by news of the adjustment of tariffs between China and the United States, the mid month market saw a wide rise in pure benzene prices. Subsequently, all the positive news dissipated, and the market returned to supply-demand imbalance, with prices falling weakly. On May 1st, the average price of pure benzene was 5708 yuan/ton, and the average price at the end of the month was 5800 yuan/ton, with a monthly increase of 1.61%.
3、 Future expectations
The current aniline market has weak supply and demand. The raw material pure benzene remains weak, and it is expected that the aniline market will operate weakly in the short term.

1、 Price trend

According to data monitored by Shengyi Society, as of May 28th, the average price quoted by domestic high-quality DMF enterprises was 4110 yuan/ton, and the DMF market remained stable this week.
2、 Market analysis
On the demand side: Downstream demand is weak, and the overall market supply-demand balance is mainly adjusted narrowly. Upstream market shipments are average, and end support is weak.
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, DMF prices will remain stable and there is limited room for price increases.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of May 23, the reference average price of domestic urea market was 1912 yuan/ton, which is 1.27% lower than the reference average price of 1936 yuan/ton on May 19.
2、 Market analysis
market conditions
The domestic urea market continued to decline this week. As of May 23rd, the urea market prices in Shandong are around 1850-1920 yuan/ton, Hebei is around 1880 yuan/ton, Henan is around 1890 yuan/ton, Hubei is around 1880 yuan/ton, and Liaoning is around 1920-1960 yuan/ton.
Supply and demand situation
In terms of supply, the urea market is currently well supplied, and inventory remains high. In terms of demand, downstream compound fertilizer companies are in urgent need of restocking and purchasing cautiously, waiting for the release of summer fertilizer demand.
3、 Future forecast
The urea analyst from Shengyi Society believes that the recent downward trend in the domestic urea market is the main reason. At present, there is insufficient market demand, and downstream purchasing intentions have weakened, waiting for industrial and agricultural demand to follow up. At present, the market is adopting a wait-and-see attitude, and it is expected that in the short term, the domestic urea price will be weak and the main trend will be consolidation and operation.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the week was 12233 yuan/ton, and the price of activated carbon at the end of the week was 12266/ton, with a price increase of 0.27%.

Most domestic activated carbon manufacturers have stable quotes this week, with some rising. The ex factory price of activated carbon for coconut shell water purification in East China is between 8800-13000 yuan/ton, and the market transaction atmosphere is active. Industry insiders are mostly optimistic about the future market.
Internationally, Southeast Asia, as the main source of coconut shells worldwide, will face multiple natural disasters in 2024. Thailand will experience a reduction in coconut production due to drought and pest infestations, while some production areas in Indonesia will be affected by abnormal rainfall at the end of the rainy season, resulting in a decrease in coconut shell collection efficiency. In the short term, the import price of coconut shell charcoal will continue to operate at a high level.
Prediction: Due to the tight supply in the international coconut shell activated carbon market, it is expected that the price of activated carbon will mainly fluctuate and strengthen in the short term.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the market price of isopropanol first fell and then rose in mid May, indicating an overall price decline. On May 10th, the average price of isopropanol in China was 6775 yuan/ton, and on May 19th, the average price was 6750 yuan/ton, with a price reduction of 0.37%.
In mid May, the market price of isopropanol first fell and then rose, indicating an overall decline in prices. In mid May, the isopropanol market was average, with low trading enthusiasm and weak demand, resulting in a decrease in factory ex factory quotations. In the later stage, the center of gravity of acetone raw material in the market has increased, with strong cost support and improved market sentiment, resulting in an upward adjustment of on-site prices. As of now, most of the isopropanol market prices in Shandong are around 6600-6900 yuan/ton; The majority of isopropanol market prices in Jiangsu region are around 6700-6900 yuan/ton.
In terms of raw material acetone, the domestic acetone market price has risen. On May 10th, the average price of acetone in China was 5685 yuan/ton, and on May 19th it was 5805 yuan/ton, with a price increase of 2.11%. The price of raw material pure benzene has risen, and the market confidence of holders is good, with an upward focus on the offer center. It is expected that the acetone market will experience narrow fluctuations in the short term.
In terms of propylene, the domestic propylene market first rose and then fell, with a slight increase in overall prices. On May 10th, the market average price was 6630.75 yuan/ton, and on May 19th, the average price was 6645.75 yuan/ton, with a price increase of 0.23%. At present, there is no pressure on the manufacturer’s inventory, and downstream procurement is average. We are cautious and observing, and it is expected that the market will experience slight fluctuations and consolidation in the short term.
3、 Future forecast
The isopropanol analyst from the Chemical Branch of Shengyi Society believes that the acetone market price has risen, while the propylene price has slightly increased, and the cost support is still acceptable. The downstream market procurement enthusiasm is average, and the market is still cautious and cautious. It is expected that the isopropanol market will experience narrow fluctuations in the short term, with a focus on changes in the raw material market.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of aniline has risen sharply this week. On May 12th, the market price of aniline was 7032 yuan/ton, and on May 16th it was 7620 yuan/ton, with an increase of 8.43% during the period and a decrease of 32.33% compared to the same period last year.
2、 Analysis and Review
This week, the aniline market in Shandong has been boosted by costs, with prices rising significantly from weak to strong. During the week, both China and the United States reached an agreement to reduce tariffs, which is beneficial for the commodity market. The raw material pure benzene continues to strengthen, and the listing of pure benzene continues to rise, boosting market confidence. Aniline prices have risen accordingly. The trading atmosphere in the venue has improved, with a focus on essential needs.
Cost wise: The high-level economic and trade talks between China and the United States have reached a consensus, and market concerns about the risk of trade disputes have weakened, leading to an increase in international oil prices. Affected by macro positive factors and the rise in external prices of pure benzene, market sentiment has rapidly improved, and pure benzene industry players have good confidence, leading to a continuous increase in pure benzene prices.
3、 Future expectations
The current price of pure benzene raw material has risen to a high level, and whether it can continue to rise depends on market feedback. Downstream demand for aniline remains high, and the speed of high priced goods is slowing down. It is expected that the aniline market will digest and consolidate in the short term.

On May 12th, the market price of epichlorohydrin remained stable. According to the monitoring and analysis system of Shengyi Society, as of May 12th, the benchmark price of Shengyi Society’s epichlorohydrin was 8900 yuan/ton, a decrease of -1.11% compared to early May.

Price influencing factors:
Raw material side: The market for raw material propylene glycerol is mainly fluctuating and consolidating. According to the market analysis system of Shengyi Society, as of May 9th, the benchmark price of propylene in Shengyi Society was 6653.25 yuan/ton, an increase of 1.26% compared to the beginning of this month (6570.75 yuan/ton).
Downstream demand side: The downstream epoxy resin market supply remains normal, with a capacity utilization rate of over 50%. But the terminal demand is weak, trading is not smooth, and the main focus is on purchasing for essential needs. Overall, the demand for epichlorohydrin has weakened, with weak upward momentum and mainly stable operation.
Market forecast: Analysts from Shengyi Society believe that downstream market demand is weak, traders’ purchasing mentality is not positive, and market trading is not smooth. It is predicted that the epoxy chloropropane market will experience weak growth in the later stage or continue to operate steadily, and more attention still needs to be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China has been actively pushing up this week. As of May 9th, the average market price in East China was 11166 yuan/ton, and as of May 5th, the average price was 10733 yuan/ton. Within the week, it increased by 4.04% and decreased by 24.55% year-on-year.

This week, the TDI market has shown a strong trend. The maintenance of major factories in Shanghai is imminent, and there have been frequent news of price increases from mainstream factories. Under the expectation of reduced supply, suppliers are actively pushing up prices, while intermediaries are raising their prices. The attitude towards downstream market entry is cautious, with a focus on essential needs. There is a shortage of new orders in the market, and high priced goods lack actual order support. The market needs support from the demand side.
Supply side: Wanhua and Gansu are operating at medium to high loads, while BASF has maintenance plans.
Cost wise: The price of toluene continues to decline, with an average price of 5390 yuan/ton at the beginning of the week and 5292 yuan/ton over the weekend, a decrease of 1.85% during the week. Downstream demand is dominant, with average enthusiasm for entering the market.
According to the analysis of the future market, TDI data analysts from Shengyi Society believe that after the holiday, downstream purchasing enthusiasm is average, and some are more resistant to high priced goods. It is expected that the TDI market will mainly digest the increase in the short term and maintain a range oscillation operation.