Due to weakened raw material support, sluggish demand, and bearish fundamentals, the price center of the PTA industry chain began to shift downwards in mid May. From the perspective of each product:
International crude oil prices fluctuated and fell. As of May 26th, the settlement price of the main contract for WTI crude oil futures in the United States was $61.53 per barrel, and the settlement price of the main contract for Brent crude oil futures was $64.78 per barrel. The malfunctioning devices in the early stage of the PX market have gradually recovered, coupled with the expectation of weakening demand, resulting in a weak performance of the PX market’s high-level decline.
There were many restarts of maintenance equipment in the early stage of PTA market, and there was a slight increase in domestic supply. The downstream polyester end is expected to be pessimistic, with insufficient cost support and a lack of favorable support. As of May 26th, the average price of PTA market in East China was 4917 yuan/ton, a decrease of 1.8% compared to May 16th.
The market price of polyester staple fiber followed suit and fell. As of May 26th, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6572 yuan/ton, a decrease of 2.3% from May 16th. Mainstream polyester staple fiber manufacturers are under pressure in terms of physical inventory, and their own production has also increased. Downstream yarn factories are cautious in purchasing and maintaining demand.
The polyester filament market remains temporarily stable, with mainstream polyester filament factories in Jiangsu and Zhejiang offering POY (150D/48F) prices ranging from 6950-7200 yuan/ton, polyester DTY (150D/48F low elasticity) prices ranging from 8000-8400 yuan/ton, and polyester FDY (150D/96F) prices ranging from 7300-7400 yuan/ton. With the weakening of cost support and the failure to significantly increase orders in the textile and clothing industry, market pressure still exists.
The risk of insufficient orders and unstable cost support for terminal textile enterprises has increased, and their enthusiasm for raw material procurement is not high. They maintain on-demand procurement and adopt a wait-and-see attitude. May is the traditional seasonal off-season, with a lukewarm market performance and limited demand growth for weaving enterprises. In the short term, it has entered the stage of digesting inventory.
Business analysts believe that although the tariff risk has eased, the performance of terminal orders is average. Especially in the foreign trade market, there are still many uncertain factors, maintaining a wait-and-see attitude. Moreover, the current trend of international oil prices remains weak, with insufficient cost support, and it is expected that the PTA industry chain will maintain a downward trend.

According to the Commodity Market Analysis System of Shengyi Society, the domestic polyester staple fiber market began to weaken in mid May. As of May 23, the average market price of domestic polyester staple fiber (1.4D * 38mm) was 6597 yuan/ton, a decrease of 1.94% from May 16.
The weakening of raw material support has led to a decline in international crude oil prices. On May 22, the settlement price of the main contract for WTI crude oil futures in the United States was $61.20 per barrel, and the settlement price of the main contract for Brent crude oil futures was $64.44 per barrel. The malfunctioning devices in the early stage of the PX market have gradually recovered, coupled with the expectation of weakening demand, resulting in a weak performance of the PX market’s high-level decline.
There were many restarts of maintenance equipment in the early stage of PTA market, and there was a slight increase in domestic supply. Downstream polyester expectations are pessimistic, with insufficient cost support and a lack of favorable support, leading to a fluctuating decline in PTA prices. As of May 22, the average price of PTA market in East China was 4913 yuan/ton, a decrease of 1.88% from May 16.
The risk of insufficient orders from downstream textile enterprises and unstable cost support has increased. Cotton mills are cautious in pursuing higher prices, maintaining on-demand procurement, and adopting a wait-and-see attitude.
Analysts from Shengyi Society believe that there is an expectation of a decline in costs, and the physical inventory of mainstream polyester staple fiber manufacturers is under pressure. Their own production will also increase, and demand is stagnant. It is expected that the price of polyester staple fiber will remain weak.

According to the Commodity Market Analysis System of Shengyi Society, as of May 22, 2025, the reference price of n-butanol in Shandong Province, China is 6233 yuan/ton. Compared with May 19 (reference price of n-butanol is 6283 yuan/ton), the price has decreased by 33 yuan/ton, a decrease of 0.69%.
From the market monitoring system of Shengyi Society, it can be seen that as we enter this week, the overall n-butanol market in Shandong Province has slightly declined. The negotiation focus of the n-butanol market in Shandong Province has slightly shifted downwards, and some factories have lowered their n-butanol shipment prices within the week by about 50-100 yuan/ton. As of May 22, the reference price for the n-butanol market in Shandong Province is around 6200-6300 yuan/ton.
Analysis of Market Factors
In terms of supply and demand: Currently, the supply side of n-butanol in Shandong region is basically stable. From the demand side, downstream users mainly purchase on demand, and some users are watching the market to replenish at low prices. The overall trading atmosphere in the market is average, and the supply and demand transmission is relatively loose.
Market analysis in the future
Currently, the atmosphere in the n-butanol market is average, with weak negotiations for new orders and insufficient effective support within the market. The n-butanol data analyst from Shengyi Society predicts that in the short term, the n-butanol market in Shandong Province will mainly experience narrow adjustments in operation, and specific changes in supply and demand information need to be closely monitored.

According to the analysis of the Business Society’s market monitoring system, on May 21st, the reference price for the domestic silicon metal # 441 market was 9210 yuan/ton. Compared with May 16th (the market price for silicon metal # 441 was 9480 yuan/ton), the price decreased by 270 yuan/ton, a decrease of 2.85%.
From the market monitoring system of Shengyi Society, it can be seen that this week (5.16-5.21), the overall domestic spot market for silicon metal # 441 has once again been weak and declining. Entering this week, the decline in spot prices of silicon metal has not stopped, and the focus of silicon metal negotiations is at a low level. As of May 21st, the reference market price for silicon metal 441 in Kunming is around 9500-9800 yuan/ton, and the reference market price for silicon metal 441 # in Tianjin is around 8800-9100 yuan/ton. The market price reference for metallic silicon 441 # in Sichuan region is around 8900-9000 yuan/ton. The market price reference for metallic silicon 441 # in Shanghai is around 9500-9600 yuan/ton.
Fundamental situation: Currently, the overall operating rate of the silicon metal market is still low, and silicon companies face significant production pressure. Downstream demand is cautious, and on-demand procurement is the main focus. The supply and demand of silicon metal are slow, and the market support is weak.
Market analysis in the future
At present, the trading atmosphere in the metal silicon market is still light, and the mentality of industry players is average, with a strong wait-and-see attitude. The metal silicon data analyst from Shengyi Society predicts that in the short term, the domestic metal silicon market will mainly operate in a range, and specific changes in supply and demand news need to be closely monitored.

1、 Market price trend
1. Price increase
Due to the dual effects of tight spot supply and increasing downstream demand, the price of acrylic acid in the market is showing an upward trend. The price of acrylic acid varies in different regions and manufacturers, but overall it shows an upward trend. As of May 20th, the benchmark price of acrylic acid in Shengyi Society was 7600.00 yuan/ton, an increase of 0.89% compared to the beginning of this month (7533.33 yuan/ton).
2. Active market atmosphere
With the rise in acrylic acid prices, the market atmosphere has become more active. Some downstream enterprises have begun to actively stock up to cope with potential supply shortages in the future.
2、 Demand side
1. Downstream demand growth
With the economic recovery and the increase of industrial production activities, the demand for acrylic acid in downstream industries such as coatings, adhesives, textile auxiliaries, and water treatment agents is gradually increasing. The growth of downstream demand has further driven up the price of acrylic acid in the market.
2. Inventory management
Some downstream enterprises may adopt a wait-and-see attitude, replenishing as needed instead of stockpiling in large quantities, which to some extent exacerbates the situation of tight spot supply.
3、 Supply side
Due to the increase in raw material supply, equipment maintenance, environmental requirements, or uneven distribution of production capacity, some acrylic acid production enterprises have limited production capacity and reduced the supply of acrylic acid in the market. As of May 20th, the benchmark price of propylene in Shengyi Society was 6645.75 yuan/ton, an increase of 1.14% compared to the beginning of this month (6570.75 yuan/ton).
Although new production capacity is about to be put into operation, there is uncertainty in the progress of production and effective output, which makes market participants more cautious in evaluating supply.
4、 Future prospects
Considering the expected reduction in overseas supply and the high concentration of domestic production capacity distribution, the tight supply situation in the acrylic acid market may continue for some time. Therefore, in the foreseeable future, the market price of acrylic acid may continue to operate at a high level.
With the intensification of market supply and demand contradictions and the continuous rise in raw material costs, the price fluctuations in the acrylic acid market may further increase. Investors and downstream enterprises need to closely monitor market dynamics and price changes in order to adjust their investment strategies and procurement plans in a timely manner.
In summary, the tight supply of spot goods is one of the main reasons for the rise in the price of acrylic acid in the market. The future price trend of the acrylic acid market will depend on the combined effects of various factors such as supply, demand, and market competition.