According to the monitoring of the commodity market analysis system of Shengyi Society, as of April 11th, the price of 0 # zinc was 22720 yuan/ton, a decrease of 0.94% from the zinc price of 22936 yuan/ton on April 7th.
This week’s market analysis
Zinc prices have been weak this week, fluctuating and falling.
Raw material end
During April, mines in northern China were still in the stage of resuming production, which led to a gradual increase in domestic zinc concentrate production. Looking back at March, the zinc concentrate import window was basically closed. Based on this situation, it is expected that the quantity of imported zinc concentrate will decrease in April. In this context, it is important to pay close attention to the arrival dynamics of zinc concentrates that have already locked in prices when the import window is opened in the early stage. Overall, the domestic supply of zinc concentrate remained relatively loose in April, and there is a possibility of further increase in zinc concentrate processing fees.
Supply and demand side
Despite the downward trend in zinc prices, both domestic and imported zinc concentrate processing fees are currently at a high level. At the same time, the by-product income is considerable, and the overall zinc price remains relatively high. Under the combination of multiple factors, domestic smelters have basically achieved profitability, with high production enthusiasm and sustained high operating rates. From the production data, the domestic refined zinc production in March achieved a month on month increase. Looking ahead to April, based on the current favorable production situation and market environment, it is expected that the domestic refined zinc production will continue to grow month on month.
On the demand side, zinc prices have shown a downward trend, and downstream enterprises have keenly captured this price fluctuation, with a strong willingness to replenish inventory at low prices. At the beginning of the week, there was a significant increase in price operations and delivery behavior, resulting in a steady increase in raw material inventory in the factory.
Inventory end
The total inventory of zinc ingots has decreased compared to April 7th. LME zinc inventory has decreased compared to last week.
comprehensive analysis
At present, although zinc inventory levels both domestically and internationally are in a relatively low range, considering the market’s expectation of a significant increase in future zinc supply and the many uncertain factors brought about by changes in the macroeconomic environment, zinc prices may continue to fluctuate downward in the future due to multiple negative factors.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China region rose this week (4.21-4.27), with an average market price of 258920 yuan/ton at the beginning of the week and 263010 yuan/ton at the end of the week, with a weekly increase of 1.58%.
From a macro perspective, the United States announced the imposition of tariffs on Chinese goods, covering key areas of tin consumption such as home appliances and consumer electronics. This measure has led to a weakening trend in export expectations for related products.
On the supply side, Alphamine officially announced that its Bisie mine is resuming production and operation in an orderly and phased manner as planned. However, given the significant delay in the resumption of tin ore production in Myanmar, the market’s expectation of overall tin ore supply tightening still persists.
On the demand side, the current trading performance of the tin ingot market is relatively quiet, and the trading heat has not significantly increased. Downstream enterprises’ procurement behavior is based on rigid demand, and when prices are in the low range, the demand for replenishment is timely released, driving a small amount of trading activity. However, as the price of tin ingots gradually rises, the trading activity in the spot market has significantly decreased, and the willingness of buyers and sellers to trade has cooled down. The procurement strategy of downstream solder enterprises also shows the dominant feature of rigid demand, meeting daily production needs while moderately replenishing inventory in combination with market price fluctuations. It is worth noting that the “trade in” policy continues to exert efforts, forming positive incentives for consumers’ purchasing intentions and indirectly driving demand for end products such as household appliances; In addition, the production schedule of the home appliance industry is running at a high level, and the production scale continues to expand. The combined effect of the two provides potential support for the demand side of tin ingots, and the potential for future demand release is worth paying attention to.
comprehensive analysis
The progress of resuming tin ore production in Myanmar is significantly lagging behind market expectations, coupled with limited recovery of Indonesian exports. The supply gap is difficult to effectively fill through internal adjustments or external supplements in the short term, and the global tin resource supply shortage is expected to continue in the short term. Expected to fluctuate widely within the tin price range.

According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province rose this week (4.14-4.18), with an average market price of 16450 yuan/ton at the beginning of the week and 16750 yuan/ton over the weekend, an increase of 1.82%.
Affected by the aftermath of last week’s sharp decline in market prices, industry participants’ confidence was generally dampened at the beginning of this week, and market trading prices continued to show a slight downward trend; By the second half of the week, with downstream user inventory levels basically dropping to a low level, driven by concentrated replenishment demand, the market price of magnesium products quickly rebounded, forming a significant rebound trend.
Supply and demand side
On the supply side, the original magnesium production is showing a continuous contraction trend, and magnesium factories are extremely determined to raise prices based on cost support and profit considerations. When market prices are in the low range, multiple magnesium factories adopt a strategy of suspending quotations to reduce the impact of low-priced transactions on the price system. This supply side’s reluctance to sell has enabled market prices to quickly rebound. On the demand side, at the beginning of the week, downstream enterprises showed a strong wait-and-see attitude due to the inertia of previous price declines, and their procurement actions tended to be cautious. However, as inventory levels gradually decrease and market prices approach the recent bottom, downstream enterprises actively enter the market to purchase and replenish goods to ensure production continuity.
Raw material end
The price of coal raw materials relied on for the production of blue charcoal has experienced a certain degree of decline. Due to this transmission effect, the market price of blue charcoal has also shown a weakening trend. At the same time, the price of silicon iron has also entered a downward adjustment mode. In this situation, the overall support of the cost side for the prices of related products has weakened.
comprehensive analysis
In summary, against the backdrop of no significant fluctuations in current supply, there is an overall dynamic balance pattern between supply and demand. Expected short-term price fluctuations within the range.

According to the Commodity Market Analysis System of Shengyi Society, the domestic polyester staple fiber market weakened slightly this week (April 21-25). As of April 25, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6294 yuan/ton, a decrease of 0.37% from the beginning of the week.
On April 22nd local time, US President Trump announced at a White House press conference that the high tariffs imposed on goods from China will be significantly reduced. The trade friction caused by tariff issues has eased, and market sentiment has improved, providing some support for oil prices. As of April 24th, the settlement price of the main contract for WTI crude oil futures in the United States was $62.79 per barrel, and the settlement price of the main contract for Brent crude oil futures was $66.55 per barrel.
Under the boost of the crude oil market, the average market price in East China as of April 25th was 4493 yuan/ton, up 3.78% from the beginning of the week. Recently, PTA plant restarts and maintenance coexist.
Under the influence of tariffs, the market fluctuates greatly, and downstream yarn factories are cautious in purchasing goods, mainly focusing on digesting inventory. The production of weaving machines in Jiangsu and Zhejiang provinces continues to decline by around 60%, and the export of terminal textiles and services is hindered due to the disturbance of tariff policies, which has a negative feedback impact on the upstream. The downstream production rate is likely to decline during the May Day holiday, and demand will further decrease.
Business analysts believe that the cost side support is still acceptable, and there is an expectation of reduced PTA supply. There will still be equipment maintenance next week. However, the terminal performance is weak, and downstream purchases are mainly based on demand. Under the unstable external factors, the market lacks drivers and tends to adopt a wait-and-see attitude. It is expected that the short-term prices of polyester staple fibers will experience a slight consolidation.

According to the Commodity Market Analysis System of Shengyi Society, as of April 24, 2025, the reference price of n-butanol in Shandong Province, China is 6283 yuan/ton. Compared with April 1 (reference price of n-butanol is 6633 yuan/ton), the price has decreased by 350 yuan/ton, a decrease of 5.28%.
Since April, the overall n-butanol market in Shandong region of China has shown a trend of first rising and then falling. In early April, the n-butanol market saw an upward trend, with market prices continuously rising and the focus of negotiations shifting upwards. On April 7th, n-butanol rose to a monthly high, with a reference of 6783 yuan/ton. Subsequently, after a brief period of market consolidation, the n-butanol market suddenly began to decline, with market prices continuously adjusting downwards and the focus of transactions continuously decreasing. As of April 24th, the n-butanol market price in Shandong region was referenced at around 6250-6400 yuan/ton, with a price reduction of 100-300 yuan/ton for the month.
Analysis of Market Factors
On the supply side: At the beginning of the month, some equipment in the n-butanol plant was undergoing maintenance, resulting in overall shortage of n-butanol supply and low pressure on the supply side, which provided upward support for the market. Subsequently, the n-butanol plants resumed production one after another, and the supply pressure on the n-butanol plant increased. The support provided by the supply side to the market weakened. Most n-butanol factories in Shandong began to sell at a discount to maintain low inventory, and the n-butanol market price began to decline.
On the demand side: At the beginning of the month, there was small-scale stocking of n-butanol downstream, and demand transmission was still acceptable, providing certain support to the market on the demand side. From mid month to the end of the month, as the n-butanol market continued to decline, downstream users became increasingly cautious and cautious in stocking up. Demand side support loosened, and the contradiction between n-butanol supply and demand gradually emerged.
Market analysis in the future
At present, the trading atmosphere of n-butanol in the market is mild, and the effective supply of n-butanol in the market is still insufficient. The supply of goods in the market is relatively sufficient. Currently, the market has fallen to a low point, and downstream suppliers are restocking at low prices. The n-butanol data analyst of Shengyi Society believes that in the short term, the n-butanol market in Shandong Province will mainly adjust and operate in a narrow range, and specific changes in supply and demand news need to be closely monitored.