According to the Commodity Market Analysis System of Shengyi Society, the rise in the PP market in the first half of April was hindered, and the prices of most brand products fell back. As of April 16th, the mainstream offer price for wire drawing by domestic producers and traders is around 7565 yuan/ton, with an increase or decrease of+0.02% compared to the price level at the beginning of April.
price trend
In terms of raw materials:
In the first half of April, the US tariff policy was implemented, with tariff rates constantly changing and increasing to unprecedented heights. The tariff trade war launched by Trump has had a huge impact on the global economy. Crude oil, as a heavily affected area, has experienced a sharp drop in prices recently. At the same time, it seriously affects the domestic supply of propane, and also drags down the operation and profitability of PDH manufacturing enterprises. The highest strength in the propylene field is insufficient, and it has entered a weak oscillation trend. Overall, the prices of various raw materials in the first half of April did not provide strong support for the cost of PP.
Supply side:
In the first half of April, domestic PP enterprises had a large and stable load with small fluctuations, and the market supply remained generally abundant. Overall, the current industry load level is around 79%, with an average weekly production of approximately 760000 tons in China. Recently, Guangdong Petrochemical, CNOOC Shell, and Ningbo Jinfa have successively implemented maintenance plans, resulting in an overall expansion of production capacity losses and an expected supply contraction in the future. There is an upward trend in the supply side’s support for PP spot prices.
In terms of demand:
In the first half of April, the demand for PP remained stable with some weakness, and on-site trading maintained a weak rigid demand pattern. In terms of plastic weaving, the consumption level of terminal enterprises has generally stabilized. The demand for PP in fields such as architecture and agriculture is gradually increasing with the warming of temperatures. However, under the influence of international news such as equivalent tariffs imposed by the United States, the global economy has been greatly impacted and future uncertainty has increased. Although the domestic PP import and export dependence share is relatively small, its downstream product exports are hindered. Buyers tend to maintain production through scattered small orders in their purchasing operations, although there has not been a significant increase in new orders in the market. Overall, the demand side of PP weakened in the first half of April.
Future forecast
In the first half of April, the domestic PP market prices fluctuated weakly. From a fundamental perspective, the overall performance of upstream raw materials in supporting PP is average, with abundant industry supply and weak demand support in consumption. The future industry market pattern is characterized by a 1:2 bearish guidance formed by weak supply search and consumption, as well as weakened costs. There is a clear avoidance of suspicion within the market. In the short term, the price trend may not see a significant increase, and it is recommended to closely monitor the situation of tariffs and the circulation of goods.

After some factories raised their listing prices yesterday, Sinopec North China’s listing price increased by 100 to 6000 yuan/ton today, Yangzhou Shiyou’s listing price increased by 100 to 6000 yuan/ton, and Fuyu Petrochemical’s acetone price increased by 5900 yuan/ton. Based on the East China acetone market, the acetone market has slightly increased by 100 yuan/ton in the new week, with a price range of 5950-6000 yuan/ton.
The acetone offers in major mainstream markets across the country on April 15th are as follows:
Region/ Quotation/ Daily increase and decrease
East China region/ 5950-6000./ 50
Shandong region/ 6000./ 50
Yanshan region/ 6000./ 50
South China region/ 6100./ 50

The raw material pure benzene is operating strongly, with some cost support, reduced port inventory, and supply mentality support. However, the current terminal follow-up is average, and the sustained upward momentum is insufficient. In the short term, acetone is operating stably in multiple dimensions.

Last week (April 7-13, 2025), the adhesive short fiber market continued to be weak. According to the Commodity Market Analysis System of Shengyi Society, as of April 13, 2025, the average price of the adhesive short fiber market was 13480 yuan/ton, a decrease of 120 yuan/ton from the same period last week, with a weekly decline of 0.88%.
Last week (April 7-13, 2025), both the raw material main material dissolution slurry market and the auxiliary material liquid alkali market fell, while the sulfuric acid market remained stable, and the cost side market prices continued to decline; The overall supply of adhesive short fibers in the market decreased slightly during the week, and some manufacturers had high inventory levels, making it difficult to find favorable support from the supply side; The demand in the terminal market remains weak, and downstream yarn companies are experiencing sluggish shipments. Currently, the main consumption of raw material inventory is low, and the enthusiasm for replenishment is not good. The fatigue of the demand side remains unchanged. The price center of the upstream raw material market has fallen, and downstream yarn manufacturers are mostly adopting a wait-and-see attitude. The support on both the cost and demand sides is weak, coupled with the continuous accumulation of inventory in the adhesive short fiber market. Some manufacturers are selling at lower prices, and the supply of low-priced goods in the market has increased, resulting in a weak decline in the price of adhesive short fiber market.
In terms of cost: Last week (April 7-13, 2025), the market price of raw material dissolution slurry continued to decline, the market price of auxiliary material liquid alkali narrowly declined, the market price of sulfuric acid remained stable, and the market price of raw materials significantly decreased. The average production cost of adhesive short fibers also decreased.
Supply and demand: Last week, the operating rate of the adhesive short fiber industry remained at around 81.47%, with a decrease in production compared to last week. During the week, some units of the adhesive short fiber factory underwent load reduction maintenance, resulting in a decline in overall supply in the industry. The speed of on-site shipments is gradually slowing down, and the inventory levels of various manufacturers are showing an increasing trend. The inventory level of the adhesive short fiber industry is improving. The inventory of finished products in the downstream cotton yarn market has increased, and prices have entered a downward channel. Downstream yarn market transactions are not ideal, and some yarn factories have reduced their operating loads, resulting in a decrease in demand for adhesive short fibers. During the week, they maintained a high level of replenishment for essential needs, but the demand side did not improve.
Market forecast:
On the raw material side, the main material dissolution slurry market and the auxiliary material sulfuric acid market are mainly consolidated, and there is still a possibility of a decline in the liquid alkali market. Therefore, it is expected that the market price of adhesive short fiber raw materials will continue to be weak this week, and the cost side support will be insufficient.
Supply and demand side: Due to the impact of high inventory, some adhesive short fiber manufacturers may continue to reduce their equipment load, so it is expected that the supply of adhesive short fiber market will decrease in the short term; The downstream market is experiencing sluggish shipments, leading to a slowing down trend in the delivery speed of adhesive short fibers. As a result, there is less demand for replenishment, so it is expected that there will be little positive support for the demand side of the adhesive short fiber market this week.
Overall, the main raw material dissolution pulp market may be weakly consolidated, with some adhesive short fiber manufacturers having high inventory and downstream yarn factories mainly consuming raw material inventory. With mixed news on the market, Business Society analysis predicts that the domestic adhesive short fiber market will mainly consolidate slightly in the short term, with prices expected to be between 13300-13500 yuan/ton.

According to the commodity market analysis system of Shengyi Society, the cost is bearish and the market price of polyester filament has fallen sharply. On April 11th, the mainstream polyester filament factories in Jiangsu and Zhejiang quoted POY (150D/48F) at 6400-6700 yuan/ton, polyester DTY (150D/48F low elasticity) at 7700-8200 yuan/ton, and polyester FDY (150D/96F) at 6700-6900 yuan/ton.
In terms of cost, entering April, international crude oil experienced a “cliff like” decline, with WTI crude oil falling below $60 per barrel, hitting a four-year low. PTA and MEG are downstream products of crude oil, and their prices are highly correlated with crude oil. From January to March 2025, the correlation coefficient between PTA and MEG prices rose to 0.65, and the decline in crude oil led to a compression of PTA processing fees to 296 yuan/ton, while MEG’s coal based profit loss expanded to 239 yuan/ton. The sharp decline in crude oil prices has raised concerns in the market about a global economic recession, and expectations for textile export demand have weakened. The US Department of Energy has lowered its forecast for the growth rate of crude oil demand in 2025, coupled with the Federal Reserve maintaining a high interest rate policy, further curbing end consumption.
In terms of demand, since April, the operating rate of polyester filament has remained at a high level of 95.5%, with sufficient capacity released. But top companies are trying to alleviate inventory pressure by reducing production to maintain prices (such as the 1.6 million ton plant renovation and parking in Xiaoshan area) and adjusting pricing models (such as the fixed price policy). The downstream textile industry shows the characteristic of “not thriving during peak season”. The operating rate of weaving machines in April was 62.5%, a decrease of 1.1 percentage points compared to the previous month, and the available days of raw material inventory in enterprises decreased to 12.65 days, indicating a low purchasing willingness. In terms of exports, the United States imposed tariffs, which led to the rise of China’s textile export costs and the transfer of some orders to Southeast Asia, but the growth of demand in the “the Belt and Road” market (such as India and Vietnam) formed a hedge.
Overall, the polyester filament market is under triple pressure of declining costs, weak demand, and high inventory levels, resulting in stable but weak prices. In the future, it is necessary to focus on the trend of crude oil, the pace of terminal order recovery, and enterprise differentiation strategies. In the short term, there is limited room for price rebound, and Business Society believes that the polyester filament market will maintain a weak operation in the short term.

According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 8008 yuan/ton on April 4th and 7788 yuan/ton on April 10th, a decrease of 2.75% during this period. LDPE (2426H) had an average price of 9633 yuan/ton on April 4th and 9333 yuan/ton on April 10th, a decrease of 3.11% during this period. HDPE (2426H) had an average price of 8337 yuan/ton on April 4th and 8260 yuan/ton on April 10th, a decrease of 0.93% during this period.
Recently, the price of polyethylene has been continuously declining. Crude oil prices are falling, and macroeconomic factors are weak, which is bearish for the polyethylene market. The supply side is abundant, and the peak season for plastic film demand is coming to an end. The demand for greenhouse film in spring is light, and the overall downstream demand is limited. The on-site mentality is cautious and bearish, and manufacturers and traders mainly offer discounts for shipments, resulting in a continuous decline in quotes. Negative factors are suppressing, and it is expected that polyethylene will be mainly weak.