After the Qingming Festival in April, the market price of epichlorohydrin remained stable. According to the monitoring and analysis system of Shengyi Society, as of April 8th, the benchmark price of Shengyi Society’s epichlorohydrin was 9033.33 yuan/ton, an increase of 1.5% compared to early April.
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 April 7th, the benchmark price of propylene in Shengyi Society was 6823.25 yuan/ton, an increase of 1.15% compared to the beginning of this month (6745.75 yuan/ton).
Supply side: Glycerol based epichlorohydrin enterprises are experiencing losses, reduced production enthusiasm, and tight market supply.
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.

Market summary: New production capacity has not been released yet, some existing facilities are undergoing maintenance or load reduction, and the market is expected to improve in this stage. Spot market offers continue to rise. As of April 3rd, the mainstream negotiation for container self pickup in East China ports is 9200-9300 yuan/ton, an increase of 200-300 yuan/ton compared to last week. Short distance delivery in Shandong market is around 8950-9150 yuan/ton, an increase of 50 yuan/ton compared to last week.
In terms of supply, factories in the East China region have reduced their load or planned maintenance, while new production capacity has not been released in the short term (trial operation stage), resulting in a partial reduction in supply and continuing to provide conditions for market growth. But the overall supply in the north is still relatively abundant, and the market is following the trend of slow growth. According to statistics, as of April 3rd, the average capacity utilization rate of the domestic acrylonitrile industry was 80.13%, a decrease of 2.56% compared to last week.
Inventory decline: After the previous low price inventory reduction, the industry’s inventory has slightly decreased. According to statistics, as of April 3, the inventory of domestic acrylonitrile factories was about 48000 tons, a decrease of 3000 tons from last week.
General demand: The ABS production capacity utilization rate of the downstream major industry of acrylonitrile is 68.6%, a decrease of 4.2% from last week, and raw materials are purchased on demand. On the other hand, in terms of downstream acrylic fiber, the weekly production rate is around 70%. Although the production rate has reached a high point this year, the issuance of new orders is limited. In addition, due to macroeconomic factors, foreign trade orders are unstable, resulting in relatively average overall demand.
Market forecast: The domestic acrylonitrile market price has slightly adjusted, and the positive support brought by local supply reduction is gradually being digested. At the same time, there is still an expectation of new production capacity being put into operation, and downstream demand remains overall. The market may continue to have insufficient upward momentum, and attention should be paid to the fluctuation of raw material propylene prices in the near future.

According to the monitoring of the commodity market analysis system of Shengyi Society, the magnesium ingot market in Shaanxi Province rose this week (3.31-4.3), with an average market price of 16925 yuan/ton at the beginning of the week and 16950 yuan/ton at the end of the week, an increase of 0.15%.
Supply and demand side
Affected by the environmental inspection news, enterprises that have taken measures to suspend production or reduce output in the early stage are generally adopting a wait-and-see attitude and unwilling to easily resume work and production. Meanwhile, the number of enterprises choosing to shut down for maintenance has increased. The inventory of various factories is generally at a low level, and they have concerns about the direction of future production. Therefore, in terms of prices, they have shown a highly consistent and firm willingness to raise prices.
This week, the main changes have occurred among manufacturers in Shaanxi. Some manufacturers have already implemented production reduction measures, while others are planning to reduce production.
The export quotation of magnesium ingots closely follows the rise in domestic market prices, but overseas buyers hold a reserved attitude towards high prices, and the number of inquiries has significantly decreased recently. In this context, some exporters choose not to quote temporarily to observe market trends. Due to the continued strength of domestic factory quotations, the profit margins of exporters are constantly being squeezed. In addition, with the recent tightening of buy and sell reviews, both buyers and sellers have adopted a cautious attitude, holding onto the currency and waiting for market changes. Until the last day of this week, there was a pullback in export prices.
Raw material end
Although the prices of raw materials such as ferrosilicon and coal have fluctuated recently, overall, the smelting cost remains within a controllable range, so factories lack the motivation to continue maintaining high prices.
comprehensive analysis
In summary, as manufacturers gradually implement production reduction plans and the supply side shrinks, market expectations before Qingming Festival will remain relatively stable and will not experience significant fluctuations. It is expected that in the short term, the domestic magnesium ingot market will continue to be dominated by the current price range, with slight price fluctuations and overall stable operation.

1、 Price trend
According to the commodity analysis system of Shengyi Society, the price of light soda ash decreased on March 31st, with a market average price of 1470 yuan/ton, a decrease of 0.68% compared to the previous trading day’s price of 1480 yuan/ton, and a decrease of 1.87% compared to the beginning of the month.
2、 Market analysis
On March 31st, the soda ash market weakened and declined. On the demand side, the terminal market is weak, with a focus on entering the market and observing, resulting in insufficient support for soda ash; On the supply side, some enterprises have increased their load, resulting in an increase in the operating rate of soda ash. The market supply of goods has risen, and there is a clear trend of oversupply in the market. Under the game of supply and demand, soda ash enterprises have lowered their quotations.
On the demand side: According to the commodity analysis system of Shengyi Society, glass prices remained stable on March 31st, with the market average price remaining unchanged at 15.21 yuan/square meter. The glass market has not experienced significant changes in production, with stable operation of equipment and downstream procurement following up on demand. The market trading atmosphere is relatively weak, and glass inventory is generally depleted. Market prices are stable and waiting to be seen.
Future forecast: Domestic soda ash facilities will resume operation, capacity utilization rate will increase, downstream glass market will remain stable, demand for soda ash will be limited, and there will be a lack of favorable market conditions. It is expected that the short-term soda ash market will operate weakly and steadily, depending on downstream market demand.

The domestic ABS market continued to be weak in March, with most spot prices of various grades falling. According to the Commodity Market Analysis System of Shengyi Society, as of April 1st, the average price of ABS sample products was 11250 yuan/ton, with a price level fluctuation of -3.64% compared to the beginning of the month.
Fundamental analysis
Supply level: As we enter March, the operating rate of the domestic ABS industry has shown significant fluctuations, with overall load increasing narrowly by 1% to around 73% compared to the end of February. The average weekly production has advanced to a super high level of 130000 tons, and the inventory level of aggregation enterprises has gradually risen to a high of over 190000 tons, indicating that the supply of goods is still very abundant. There has been no improvement in petrochemical plant orders within the month, and traders are lagging behind in terms of goods delivery. Actual orders are gradually yielding profits, and more orders are being shipped. Overall, the supply side has poor support for ABS spot prices during the ten day period.
Cost factor: As we enter March, the trend of ABS upstream materials has collectively weakened, providing poor support for ABS costs. The supply-demand imbalance in acrylonitrile has not yet eased within the month, with over 80% of the industry’s high load resulting in abundant supply on site. After a decline in the first and middle of the month, the price of acrylonitrile has hit the theoretical production cost line, and the role of terminal procurement entering the market at low prices to support the price has gradually strengthened. The market has hit a bottom in stages, and there is a trend of supply contraction at the end of the month. Spot prices have stopped falling and rebounded slightly. Considering the overall abundant supply in the future, the short-term market growth may still be limited.
The butadiene market was mainly consolidating after a decline in March. Spot transactions within the range are relatively weak, indicating poor market momentum. On the supply side, the suspension of mainstream enterprises in the eastern region of China and the increase in arrivals at the end of the month are mutually pulling each other. In terms of demand, the downstream synthetic rubber market has shown a biased performance. Merchants have attempted to raise prices but have been unsuccessful. Overall, the supply and demand performance of the butadiene market is bearish, and it is expected to remain stable, moderate, and weak in the short term.
Styrene fluctuated and fell in March. There are many imported sources of pure benzene raw materials, and downstream consumption is slightly weak. Prices continue to be under pressure, dragging the styrene market. The downstream demand for styrene is in urgent need of support. In April, styrene will enter a peak season for maintenance, and supply is expected to tighten. However, there is insufficient cost support, which will constrain the styrene market. It is expected that styrene will experience narrow fluctuations in the short term.
On the demand side: The terminal side continues the previous flat pattern, and downstream buying in March is still lagging behind. The load of terminal factories is generally flat, and the purchasing logic tends to be weak in demand and bottom fishing. The atmosphere of on-site purchasing is sluggish, and the flow of goods is slow. Overall, the demand side has weak support for the ABS market.
Future forecast
The domestic ABS market remained in a downward trend in March. The performance of the upstream three materials is poor, and the comprehensive support for ABS cost is weak. The load of ABS polymerization plant is stable with small fluctuations, and the inventory level is rising at a high level. Weak consumption on the demand side and insufficient procurement by downstream enterprises. Business analysts believe that the ABS market will have strong supply and weak demand in the long term, and it is difficult to find any positive results. In the short term, the market will still be dominated by weak consolidation.