As of the close on December 22, the closing price of PTA contract 2605 was+218 to 5040 yuan/ton compared to yesterday’s settlement. The spot market also continued to be strong. According to the Commodity Market Analysis System of Shengyi Society, the PTA spot market price in East China on the 22nd was 4879 yuan/ton, an increase of 3.04% from the previous trading day
The geopolitical conflict between Russia, Ukraine, the United States, and Venezuela has boosted oil prices in the short term. On December 19th, international crude oil futures closed higher. The settlement price of the February WTI crude oil futures contract in the United States was $56.52 per barrel, an increase of $0.52 or 0.9%. The settlement price of Brent crude oil futures for February was $60.47 per barrel, an increase of $0.65 or 1.1%. There has been little change in PX equipment recently, and it is expected that there will be a slight accumulation of inventory in December. However, PX prices are still supported by tight spot liquidity and low inventory levels.
From the perspective of self supply, the operating rate of the PTA industry is around 73%, and Yisheng New Materials plans to conduct maintenance in January and February. Under low processing fees, the factory’s production enthusiasm is limited, and the possibility of unplanned maintenance increases cannot be ruled out, resulting in limited supply recovery.
There is currently no change in the entire downstream polyester plant, and the load remains at a high level around 91%, but the sentiment of chasing after raw material prices is average. Due to the impact of the off-season of consumption, demand has weakened in the terminal industry, and inventory accumulation has occurred in processes such as weaving and knitting.
According to analysts from Shengyi Society, the current terminal market is lukewarm, and the downstream polyester end is not highly motivated to chase higher prices. However, the performance of PTA raw materials remains strong, and under the continuous destocking and low processing fees, the short-term PTA spot market continues to be strong.

According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has been fluctuating and consolidating recently (12.1-12.22). As of December 22, the spot rubber market price in China’s natural rubber market was around 14950 yuan/ton, an increase of 0.34% from 14900 yuan/ton at the beginning of the month. As of December 22, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 14900~15150 yuan/ton.
Recently (12.1-12.22), the continuous increase in Tianjiao inventory has had a bearish impact on the Tianjiao market. However, the price of natural rubber raw materials remains high, and downstream tire production has remained stable with a slight decrease, causing the natural rubber market to fluctuate and consolidate.
Recently (12.1-12.22), the prices of natural rubber raw materials have been consolidating at a high level. As of December 22, the price of Thai glue was 56.00 Thai baht/kg, unchanged from 56 Thai baht/kg at the beginning of the month. The current overseas rubber cutting peak season supply is gradually increasing, and the expectation of high raw material prices in the later period is expected to decline.
Recently (12.1-12.22), natural rubber inventory has continued to grow, with a relatively negative impact on natural rubber. As of December 21, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 515200 tons, an increase of 6.52% from 481600 tons at the end of November.
Supply and demand side: Recently (12.1-12.22), downstream tire production has slightly decreased, providing strong support for the natural rubber market’s demand. As of December 19th, the construction of semi steel tires by domestic tire companies has reached around 7.10%; The construction of all steel tires by tire enterprises in Shandong region has reached about 6.3%.
Market forecast: The price of natural rubber raw materials is expected to remain high in the short term and decline in the later period, supported by downstream tire demand. The inventory at Tianjin Rubber Port is expected to increase, and the overall natural rubber market is expected to consolidate weakly in the later period.

According to the monitoring of the commodity market analysis system, the magnesium ingot market in Shaanxi region stopped falling and rebounded this week (12.15-12.19), with an average market price of 15550 yuan/ton at the beginning of the week and 15650 yuan/ton at the end of the week, an increase of 0.64%.
This week, the magnesium ingot market overall showed a trend of stabilizing at the bottom, and it is difficult to find sources of goods with prices below 15600 yuan/ton in the market. The supply and demand sides are in a stalemate at the current price level, and there has been no significant change in the market situation for the time being.
Supply and demand side
On the supply side, the factory has a firm stance on stabilizing prices. It is understood that the quotations of various factories in the current market are basically consistent, showing a trend of rising prices, and there is no situation of actively reducing prices and giving benefits. Most factories have already achieved a certain amount of shipments in the early stage, and currently there is no pressure to release inventory. In addition, given that the current magnesium price is at a relatively low level and has already reached the cost line, factories are unwilling to further lower their quotes, and the overall market atmosphere is strong for price stability.
In terms of demand, downstream customer groups and intermediaries are still adopting a cautious and wait-and-see attitude, with only a few users with rigid demand carrying out a small amount of replenishment operations. The overall market is showing a trend of weak demand and has not yet shown substantial improvement.
raw material end
The price of coal shows a slight upward trend, while the prices of blue charcoal and ferrosilicon remain stable, and the overall cost remains basically unchanged.
comprehensive analysis
The market has been under continuous pressure recently, and it was not until the second half of this week that signs of recovery gradually emerged. Against the backdrop of a slight increase in demand side order volume, the price trend of magnesium smelting enterprises will continue to diverge, and it is expected that the market will steadily recover with slight fluctuations in the future.

1、 Price trend
According to the commodity market analysis system, the market position of aniline has recently risen. On December 11th, the market price of aniline was 7637 yuan/ton, and on December 18th it was 7945 yuan/ton, with a 4.03% increase during the period and a 12.21% decrease compared to the same period last year.
2、 Analysis and Review
Recently, the aniline market has received positive support from the supply side, resulting in a significant increase in prices. On Monday, some factories underwent maintenance, leading to reduced supply expectations and boosting business confidence. At the same time, the price position in the early stage and the inventory pressure of the enterprise are not significant. On Monday, the manufacturer increased by 250 yuan/ton. The price has risen to 7900 yuan/ton. As prices rise to a high level and demand remains relatively flat, the high price of aniline is expected to stabilize over the weekend.
Cost wise: The raw material pure benzene market continues to fluctuate at a low level. Recently, the supply of pure benzene has decreased, but from the end of November to early December, it has been concentrated at ports, and port inventories have continued to rise. From the demand side, the downstream load of pure benzene has decreased to varying degrees recently. The overall supply and demand of pure benzene in the short term are weak, coupled with weak support from crude oil on the cost side, resulting in weak operation of pure benzene.
3、 Future expectations
At present, the trading in the aniline market is stable and the demand is flat. It is expected that the aniline market will maintain stable operation in the short term, and we will closely monitor the changes in raw materials and supply and demand in the future.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of December 17th, the average quotation price of domestic high-quality DMF enterprises was 3820 yuan/ton. Currently, the DMF supply is sufficient, and downstream essential procurement is the main focus. The demand is flat and difficult to improve.
2、 Cause analysis
Market wise: Currently, the DMF market is mainly operating at a weak price, with insufficient market benefits and lack of confidence among industry players. The overall market supply of DMF is sufficient, and inventory is mainly running at high levels. Inventory consumption is slow, and there is insufficient room for price increases.
In terms of methanol, the upstream methanol market is showing a stable to strong trend, with manufacturers’ shipments remaining stable and urgent needs being met. The focus of market negotiations is running smoothly, while methanol prices in the East China region are fluctuating. Operators are cautious in their operations, and high inventory still suppresses prices. The methanol market in Shanxi region is fluctuating, with all auctions being successful and the negotiation atmosphere still acceptable.
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, DMF prices will mainly remain stable, with high inventory levels suppressing price increases, resulting in a clear oversupply situation and slow inventory consumption.