According to the commodity analysis system of Shengyi Society, starting from March 1st, the hydrogen peroxide market weakened and prices fluctuated and fell. On March 1st, the average market price of hydrogen peroxide was 723 yuan/ton. On March 13th, the average market price of hydrogen peroxide will be 710 yuan/ton, a decrease of 1.84% in price.

Demand drops, hydrogen peroxide market declines

Since March, the terminal demand in the printing and papermaking industry has been poor, and hydrogen peroxide manufacturers have increased production, resulting in loose supply and weakened prices. The average price in the domestic market has fallen to around 700 yuan/ton, with a price drop of about 50 yuan/ton. Market transactions have declined, and the market continues to decline weakly.

The hydrogen peroxide analyst from Shengyi Society believes that in late March, the demand for terminal printing and papermaking industry was sluggish, and the pressure on hydrogen peroxide supply remained. The market will continue to weaken in the future.

Recently (3.3-3.12), the market price of Shunding rubber has been weak and declining. According to the commodity market analysis system of Shengyi Society, as of March 12, the market price of Shunding rubber in East China was 13830 yuan/ton, a decrease of 1.85% from 14090 yuan/ton on March 3. The price of raw material butadiene continues to decline slightly, and the cost center of butadiene rubber decreases slightly; The production of butadiene rubber continues to increase, and the pressure on the supply side has increased; The downstream construction is gradually increasing, mainly providing support for the rigid demand of butadiene rubber. Recently, the supply prices of Shunding rubber suppliers have been gradually lowered, and the quotes from merchants have been weak and declining. As of March 12th, the mainstream quotes for Shunding in Qilu, Daqing, Sichuan, and Yangtze in East China are 13800-14050 yuan/ton.

Recently (3.3-3.12), the price of butadiene has slightly decreased, and the cost support for butadiene rubber has weakened. According to the Commodity Market Analysis System of Shengyi Society, as of March 12th, the price of butadiene was 11200 yuan/ton, a decrease of 2.29% from 11462 yuan/ton on March 3rd.

Recently (3.3-3.12), the construction of domestic butadiene rubber plants has slightly increased, with overall construction around 6.90%.

Demand side: The slight increase in downstream tire production is the main support for the demand in the butadiene rubber market. As of March 7th, the operating load of semi steel tires in domestic tire enterprises was around 8.2%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 6.9% of the load.

Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that in the short term, the price of butadiene will consolidate weakly, and the cost support of butadiene rubber will continue to be weak; The increase in downstream construction provides certain support for butadiene rubber; The production of butadiene rubber has slightly increased, which has a slightly bearish impact on the butadiene rubber market. Overall, it is expected that the butadiene rubber market will consolidate weakly in the later stage.

According to the Commodity Market Analysis System of Shengyi Society, the PP market fluctuated and consolidated in early March, and the price adjustment range of most brand products was relatively narrow. As of March 11th, the mainstream offer price for wire drawing by domestic producers and traders is around 7525 yuan/ton, with an increase or decrease of+0.11% compared to the price level at the beginning of March.

price trend

In terms of raw materials:

In terms of remote upstream crude oil, in early March, with the easing of the geopolitical situation between Russia and Ukraine, the market’s concerns about reduced demand for crude oil expanded. Combined with the high inventory of US crude oil in the early stage, the crude oil market was suppressed by various factors, and the price position became loose. In early March, the price of propylene was at a temporary low, and downstream suppliers increased their supply, resulting in a gradual recovery of prices within ten days. The overall inventory of propane in China has increased, and there is a lack of active guidance on the market, with prices mainly following the decline of crude oil. Overall, the PP raw material market showed mixed ups and downs in early March, providing moderate support for PP costs.

Supply side:

In early March, the load of domestic PP enterprises increased narrowly, and the market supply remained abundant. Overall, the industry’s overall load level has rebounded to over 81% compared to 79% at the end of February, and the domestic weekly average production has increased to 770000 tons. The production capacity is still in the blank stage within ten days, and the maintenance and resumption of work of PP plants in the future are intertwined. From the results, it is expected that the change in shipment volume will be limited, and the supply side’s support for PP spot prices is still relatively weak.

In terms of demand:

In early March, there was limited improvement in the demand side of PP, and on-site trading remained at the level of essential demand. The consumption level of woven bags such as fertilizers, cement, and rice in terminal enterprises is showing signs of recovery. With the warming of temperatures, the demand for PP has also increased in fields such as construction and agriculture. But currently, the market’s new orders are generally small and there has been no significant increase in volume. However, exports have been hindered by tariffs, and overall, the demand side has shown insufficient momentum.

Future forecast

In early March, the domestic PP market prices were mainly consolidating. From a fundamental perspective, the overall performance of upstream raw materials in supporting PP is poor, with industry supply increasing slightly at a high level, consumption slowly recovering, and the market returning to a supply-demand game pattern. In the short term, the PP price market may still be under pressure and consolidation.

Last week (March 3-9, 2025), the price of caprolactam, an upstream raw material for nylon filament, fell under pressure in the market. The nylon PA6 slicing market experienced a narrow decline, with weakened cost support and weak purchasing willingness in downstream markets. The main consumption of raw material inventory was high, and there was a strong wait-and-see atmosphere in the market. Actual orders were limited, and the price of nylon fiber market declined narrowly. In the future, it is necessary to closely monitor the trend of cost and changes in downstream market demand.

According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament decreased narrowly last week (March 3-9, 2025). As of March 9, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16580 yuan/ton, a decrease of 100 yuan/ton from last week, with a weekly increase of 0.88%; Nylon POY (premium product; 86D/24F) is priced at 14175 yuan/ton, a decrease of 125 yuan/ton from last week, with a weekly increase of 0.87%; The price of nylon FDY (premium: 40D/12F) is reported at 17200 yuan/ton, a decrease of 100 yuan/ton from last week, with a weekly increase of 0.58%.

Downstream channel of raw material caprolactam

In terms of cost: Since late February, the market price of caprolactam has entered a downward trend, and the performance of terminal demand has been lower than expected, which has led to a sharp increase in the pressure on polymerization factories to ship. The demand side’s follow-up sentiment towards caprolactam has rapidly cooled down. As of March 9, 2025, the benchmark price of caprolactam in Shengyi Society was 10763 yuan/ton, with a weekly decline of 1.88%.

Supply and demand: Last week (March 3-9, 2025), the downstream market had weak purchasing intentions and mainly consumed raw material inventory. There was a strong atmosphere of wait-and-see in the market, with limited actual transactions and insufficient support from the demand side.

Future forecast

Cost wise: The market for caprolactam is bearish, and the production capacity of caprolactam in the market will be released, resulting in an increase in supply. The demand side will maintain on-demand procurement, and the short-term caprolactam market price will be mainly weak.

Supply and demand side: Most nylon filament manufacturers have resumed normal production, and the on-site supply will increase significantly. At the same time, the overall inventory level in the market may increase; Downstream enterprises have a certain amount of raw material inventory, and coupled with insufficient confidence in the future market, the demand for replenishment is limited.

Overall, the spot market for raw material caprolactam and nylon PA6 chips are mainly operating weakly, with poor cost support and continued weak demand. There is a strong wait-and-see atmosphere in the market, and analysts from Shengyi Society predict that the price of nylon filament may continue its weak downward trend.

According to the commodity market analysis system of Shengyi Society, the price of polyester filament showed a stable to weak trend this week, with slight price reductions in some areas, but the overall trend is relatively stable. On March 7th, the mainstream polyester filament factories in Jiangsu and Zhejiang Province quoted POY (150D/48F) at 7100-7350 yuan/ton, polyester DTY (150D/48F low elasticity) at 8400-8600 yuan/ton, and polyester FDY (150D/96F) at 7400-7700 yuan/ton.

In terms of cost, international crude oil prices have been fluctuating due to the geopolitical situation, with PX prices increasing supported by maintenance plans and oil blending demand. However, the sufficient supply of PTA has led to a decline in its prices, weakening the cost support of polyester filament and further suppressing the price increase space of polyester filament.

In terms of demand, the downstream weaving start-up rate is about 70%, but new orders are mainly in “small batches and short cycles”, with limited increase in foreign trade orders and low enthusiasm for terminal stocking, resulting in cautious procurement. The trading atmosphere in the polyester filament market is flat, with many users in urgent need of replenishment. Although the traditional peak season is approaching, the export of terminal textiles is weak, and the recovery of domestic sales is limited, which suppresses the release of demand.

In terms of inventory, the production and sales of polyester filament are under pressure. The average production and sales of polyester are 31.2%, and the overall inventory in the market is concentrated between 9-19 days; In terms of specific products, POY inventory is around 9-20 days, FDY inventory is around 7-19 days, and DTY inventory is around 8-20 days.

Overall, the price of polyester filament yarn remained stable but slightly weak this week, with core influencing factors including weak dual raw materials on the cost side, weak downstream demand, and inventory pressure from manufacturers. Business Society believes that the decline in the polyester filament yarn market is limited, and future attention should be paid to fluctuations in crude oil prices, recovery of terminal orders, and industry capacity adjustments.