This week, some facilities in East China have reduced their load, leading to a decrease in industry capacity utilization. The supply has gradually decreased to alleviate excess pressure. At the same time, downstream large factories have stable contract demand, and major manufacturers have continued to raise prices. Market offers have followed suit. As of August 8th, the mainstream negotiation for container self pickup at East China ports is between 8000-8100 yuan/ton, which is the same as last week; The short distance delivery to the Shandong market is negotiated at around 7900-8000 yuan/ton, which is the same as last week.
Partial device load reduction supply phased reduction:
During the week, the 520000 ton acrylonitrile unit of Zhejiang Petrochemical reduced its load to around 60-70% due to related equipment failures; A 130000 ton acrylonitrile production line of Sinochem Quanzhou has been shut down, leading to a decrease in industry capacity utilization and a temporary reduction in supply. Relieve the pressure of oversupply in the early stage, while maintaining stable contract demand from downstream large factories and no pressure on industry inventory. Under cost pressure and controllable inventory support, major manufacturers are gradually exploring ways to push up prices.
However, overall supply remains abundant, and spot buying remains cautious. According to statistics, as of August 7th, the weekly capacity utilization rate of domestic acrylonitrile factories was 74.34%, a decrease of -1.59% compared to the same period last week. The weekly output was about 81100 tons, a decrease of 0.17 million tons from the previous cycle. The total inventory was about 44500 tons, a decrease of 0.42 million tons from last week.
Small and medium-sized downstream buyers are still weak:
The capacity utilization rate of major downstream industries of acrylonitrile varies, with ABS capacity utilization rate at 71.10%, an increase of 5.20% compared to last week; Capacity utilization rate of acrylic fiber enterprises: 77.34%, up from last week+8.72; Acrylamide production capacity utilization rate: 47.99%, compared to last week -0.12%. Overall, the buying momentum of small and medium-sized downstream is still weak, and the spot trading atmosphere in the market is still average, with upward potential still suppressed.
Low volatility of propylene prices:
The price of propylene fell during the week, and the cost of raw materials for acrylonitrile production decreased. At the same time, the price of acrylonitrile increased, further improving the production loss situation this week. According to statistics, the average production cost of acrylonitrile this week was 8688 yuan/ton, with a month on month decrease of -0.82%. The average profit of acrylonitrile production during the same period was -418 yuan/ton, with a month on month increase of 232 yuan/ton.
Overall, although the cost support is slightly insufficient, Fushun Petrochemical’s 92000 ton acrylonitrile plant plans to shut down for maintenance for about 45 days in mid August. There is still an expectation of reduced supply, coupled with an increase in capacity utilization in downstream industries and an expected increase in demand. In the short term, major manufacturers are expected to continue to raise prices. However, considering that the overall supply is still abundant, spot buying is still cautious, and there may still be resistance to pushing up prices.

This week, the market price of epichlorohydrin remained high and stable. According to the monitoring and analysis system of Shengyi Society, as of August 7th, the benchmark price of Shengyi Society’s epichlorohydrin was 11500 yuan/ton, an increase of 0.88% compared to early August.
Price influencing factors:
On the raw material side: The external price of raw material glycerol remains high and firm, with tight market supply. Most domestic glycerol factories are operating under capacity, and there is a risk of production reduction. The cost pressure of epichlorohydrin is high, and some enterprises have a strong atmosphere of price increase in order to avoid losses. The price of raw material propylene has risen. Overall, the high cost pressure on the raw material side has provided strong support for the cost of epichlorohydrin, resulting in a slight increase in prices. According to the market analysis system of Shengyi Society, as of August 7th, the benchmark price of propylene in Shengyi Society was 6413.25 yuan/ton, a decrease of 0.31% compared to the beginning of this month (6433.25 yuan/ton).
Demand side: The downstream epoxy resin market is under high cost pressure, with weak terminal demand and a slight decrease in market focus. The main focus is on meeting the urgent needs of purchasing epichlorohydrin, and the trading atmosphere is cold. It is expected that the epichlorohydrin market will continue to operate steadily in the near future.
Market forecast: Analysts from Shengyi Society believe that the prices of glycerol and propylene on the cost side remain strong at high levels, downstream demand is weak, and the trading atmosphere is cold. It is expected that the epoxy chloropropane market will remain stable in the near future, and more attention still needs to be paid to changes in raw material prices and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, as of August 5, 2025, the reference price of n-butanol in Shandong Province, China is 5900 yuan/ton. Compared with August 1 (reference price of n-butanol is 5976 yuan/ton), the price has decreased by 76 yuan/ton, a decrease of 1.28%.
From the Commodity Market Analysis System of Shengyi Society, it can be seen that in early August, the overall market situation of n-butanol in Shandong Province, China, showed a narrow downward trend. The n-butanol factory and suppliers have narrowly lowered the shipment price of n-butanol, and the focus of negotiations in the n-butanol market has been slightly adjusted downwards. As of August 5th, the n-butanol market price in Shandong region is around 5900-6000 yuan/ton, with a price reduction of 50-100 yuan/ton.
Market influencing factors
In terms of supply: Currently, the production of n-butanol is relatively stable, with sufficient on-site spot supply. However, the overall performance of downstream demand is poor, and the transmission of supply and demand is relatively slow, resulting in loose overall supply performance.
In terms of demand: Currently, downstream demand for n-butanol is relatively cautious, with demand users mainly restocking at low prices. The negotiation atmosphere is relatively weak, and the wait-and-see atmosphere is strong. The overall support for n-butanol on the demand side is limited.
Market analysis in the future
At present, the inquiries in the n-butanol market are on the low end and trading is average, with weak effective support within the market. The n-butanol data analyst from Shengyi Society believes that in the short term, the domestic n-butanol market will mainly focus on weak consolidation and operation, and specific changes in supply and demand information need to be closely monitored.

According to the Commodity Market Analysis System of Shengyi Society, the price of formic acid has shown an upward trend recently. As of August 4th, the benchmark price of 85% industrial grade formic acid in China was 3100 yuan/ton, an increase of 29.17% month on month and 13.76% compared to the same period last year.
The dual support of supply and demand drives up prices
Supply side: The continuous control of production volume by manufacturers in the early stage has led to a tightening of the supply side, and currently there is a shortage of market supply.
Demand side: Increased export demand, currently in the export cycle, with tight market inventory.
Methanol oscillation operation at the raw material end
The domestic methanol market is showing signs of recovery. Northwest olefin factories are increasing their external procurement volume, coupled with favorable effects such as ongoing maintenance of some facilities and low inventory levels in enterprises. Upstream companies are selling at high prices, while downstream companies are passively following suit.
The formic acid data analyst from Shengyi Society believes that the formic acid market is currently in short supply and still has upward momentum. It is expected that formic acid prices will further rise, but specific changes in market conditions still need to be monitored.

Since July, the overall ABS market trend has continued to be weak, with some grades experiencing a decline in spot prices. According to the Commodity Market Analysis System of Shengyi Society, as of July 31st, the average price of ABS sample products was 10312.50 yuan/ton, with a price level increase or decrease of -2.94% compared to early July.
Fundamental analysis
Supply level: Throughout July, the domestic ABS industry experienced significant fluctuations in load, with the overall load level fluctuating from 66% at the beginning of the month to around 67%. The weekly average production has remained stable at over 120000 tons, and the inventory level of aggregation enterprises at the end of the month has risen to a high of over 220000 tons, with sufficient supply maintained on site. At the beginning of the month, Haijiang Chemical returned to maintenance and Liaoning Jinfa’s new plant capacity was put into operation, accumulating a series of production increases in the second half of the month, including Dalian Hengli, and the industry’s supply side continued to relax. Overall, the long-term loose supply pattern in the ABS market remains unchanged, but fortunately, industry inventory is relatively controllable. Overall, the supply side has weak support for ABS spot prices.
Cost factor: In July, the overall ABS upstream three material market experienced two declines and fluctuations, which limited the support for ABS cost side. The acrylonitrile market remains deadlocked, with enterprise capacity utilization rates and output basically leveling off. Although the Haijiang plant in Shandong is still in a shutdown state, Jilin Petrochemical plans to expand its 260000 ton acrylonitrile plant and put it into operation by the end of July, while Liaoning Jinfa Technology’s 260000 ton acrylonitrile plant will resume operation by the end of July. The expected supply growth continues to affect market sentiment. The overall utilization rate of downstream production capacity has significantly decreased, and enterprises purchase raw materials on demand, resulting in a weakening of overall demand. In addition, with slightly insufficient cost support, it is expected that the acrylonitrile market will remain stagnant in the short term.
The domestic butadiene market fell in the first half of July and then rebounded in the second half. Affected by insufficient demand in the early stage, the main production areas actively exported, resulting in some unsold products in the market, and the ex factory prices of the main refineries were lowered one after another. In the second half of the month, the insufficient arrival of port inventory in the East China region boosted market sentiment, prompting companies to switch to premium transactions. Due to the expected weak fundamentals in the future, the butadiene market may experience overall weak fluctuations.
Styrene fluctuated and fell during July. Upstream crude oil and pure benzene fluctuated, although there was an upward trend at the end of the month, they did not provide sufficient support for styrene. On the supply side, port inventory continues to increase, and downstream three S enterprises are experiencing further losses. Under the pressure of high finished product inventory, they continue to stop and reduce their burden, resulting in a weakened demand for styrene. The current fundamentals of the styrene market are weak and difficult to change, and it is expected to operate weakly in the future.
On the demand side: In the medium to long term, the downstream factories of ABS have had average loads. The current market is in the traditional off-season range, and terminal enterprises maintain a strong demand for supplementary orders. Since July, the market concerns caused by the deterioration of geopolitics in the Middle East have been largely resolved, and industry players are more concerned about the uncertainty of US future tariff policies and their impact on market demand. A cautious atmosphere pervades the market, and the flow of goods is slow. Domestic inventory levels remain high and sideways, with continued loose supply and ample room for on-site turnover. Overall, there has been no improvement in the demand side’s support for the ABS market.

Future forecast
During July, the domestic ABS market remained weak and the consolidation trend continued. The prices of upstream three materials are generally weak, and the production load of ABS polymerization plants is stable with small increases, while the demand side is at a low season level. Analysts from Shengyi Society believe that the long-term drag on spot prices of ABS due to supply and demand contradictions makes it difficult for the market momentum to improve. It is expected that the ABS market will maintain a consolidation pattern in the short term.