According to the Commodity Market Analysis System of Shengyi Society, the domestic light rare earth market price trend has risen. On August 18th, the Shengyi Society Rare Earth Index was 525 points, up 18 points from yesterday, a decrease of 47.86% from the highest point of 1007 points during the cycle (2022-02-24), and an increase of 93.73% from the lowest point of 271 points on September 13, 2015. (Note: The cycle refers to the period from December 1, 2011 to present)
Domestic prices of neodymium oxide, metallic neodymium, praseodymium oxide, metallic praseodymium, praseodymium neodymium alloy, and praseodymium neodymium oxide have all significantly increased. As of the 19th, the price of neodymium oxide was 650000 yuan/ton, an increase of 18.18% since August; The price of neodymium metal is 777500 yuan/ton, with a price increase of 17.80%; The price of praseodymium oxide is 642500 yuan/ton, with a price increase of 18.43%; The price of praseodymium metal is 765000 yuan/ton, with a price trend increase of 14.18%; The price of praseodymium neodymium alloy is 762500 yuan/ton, with a price increase of 15.97%; The price of praseodymium neodymium oxide is 625000 yuan/ton, with a price increase of 20.19%.
In August, the domestic light rare earth market prices rose significantly, and the domestic light rare earth market supply was relatively tight. There were macro news leaks, and the supply and demand pattern of praseodymium neodymium products may further tighten, exacerbating market expectations of shortages. As a result, the light rare earth market prices rose significantly. The booming development of downstream industries such as new energy vehicles and home appliances has driven downstream magnetic material factories to see a significant increase in orders in the fourth quarter. In addition, sufficient orders from magnetic material manufacturers have boosted domestic demand for light rare earths, leading to an upward trend in the light rare earth market.
After years of governance, the domestic rare earth industry has gradually formed a supply pattern dominated by large groups and relatively concentrated raw materials. With the continuous development of the foreign rare earth industry, China’s rare earth production share has declined from 90% to 70%, which has brought certain benefits to the domestic rare earth market.
Market forecast: Recently, magnetic material companies have shown positive purchasing sentiment, and the supply-demand game in the light rare earth market continues. The supply-demand imbalance of praseodymium neodymium series products is evident; In addition, the long-term growth trend of terminal demand for industrial robots, new energy vehicles, wind turbines, and other devices remains unchanged. The penetration rate of high-performance neodymium iron boron permanent magnets in the terminal is expected to continue to increase, and the market trend of light rare earths is expected to rise in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic PTA spot market has shown a downward trend since August. As of August 18th, the average price of PTA in the East China region was 4720 yuan/ton, a decrease of 2.09% from the beginning of the month.
In terms of PTA equipment, Taihua and Hainan have shut down, while Weilian and Jiaxing have restarted. The shutdown of the equipment has been reduced for continued maintenance, and the overall supply has rebounded. The 3.2 million ton unit of Hailun Petrochemical was tested and discharged at the end of July, gradually increasing its load, and the overall operating rate of the industry remained around 76%.
The peak season for traditional fuel consumption in the United States is coming to an end, and supply side risks have not been eliminated. International oil prices are mainly experiencing weak fluctuations in the short term. As of August 15th, the settlement price of the September WTI crude oil futures contract in the United States was $62.80 per barrel, and the settlement price of the October Brent crude oil futures contract was $65.85 per barrel.
The space for downstream polyester load recovery is limited, and under the constraint of high weaving inventory, seasonal hoarding has not shown significant improvement. Polyester factories still have expectations for the traditional peak season, but it is difficult to achieve sustained replenishment without widespread demand recovery. Maintain a wait-and-see atmosphere overall, with a focus on essential procurement.
Business analysts believe that the current PTA new plant is put into operation, with a slight increase in the supply side. In addition, the international oil price performance is sluggish, the cost center continues to decline, and coupled with the overall weak trend of commodities, it is expected that PTA prices will continue to fluctuate and decline.

Price trend: (8.9-8.15)
This week, nickel prices showed a trend of rising and falling. According to the monitoring of the commodity market analysis system of Shengyi Society, on August 15th, spot electrolytic nickel was reported at 121850 yuan/ton, with a weekly increase of 0.58%, but still a year-on-year decrease of 5.40%. At the beginning of the week, nickel prices surged due to macroeconomic favorable factors such as the expected increase in interest rate cuts by the Federal Reserve and the temporary suspension of tariffs between China and the United States. However, they later fell back due to factors such as high inventory suppression and weak demand for stainless steel, maintaining an overall volatile consolidation pattern.
In terms of market transactions, there has been an increase in demand purchases after prices have fallen. Traders have reported that some downstream companies have hit low prices, but the overall market is still mainly on a wait-and-see basis, and the sustainability remains to be observed.
Macro: Loose expectations support, but policy uncertainty still exists
The expectation of the Federal Reserve’s interest rate cut has strengthened: the US CPI in July was 2.7% year-on-year, lower than the expected 2.8%. The market’s probability of a rate cut in September has risen to 94%, and the US dollar index has fallen to around 98, supporting metal prices.
Suspension of Sino US trade friction: Both sides continue to agree to suspend the 24% tariff for 90 days to alleviate market concerns, but the 10% benchmark tariff still exists and there are still variables in subsequent negotiations.
Geopolitical tensions ease: US and Russian heads of state meet to discuss a ceasefire in Ukraine, leading to a cooling of market risk aversion. However, Zelensky refuses a “territorial exchange,” and further progress remains to be observed.
Domestic industrial demand remains stable: In July, the added value of industries above designated size increased by 5.7% year-on-year and 0.38% month on month, indicating stable demand in the manufacturing industry, but the direct boost to nickel prices is limited.
Macro summary: Short term liquidity easing expectations support nickel prices, but high inventory and weak demand limit the rebound height, and the market is still waiting for clearer policy signals.
Supply side: inventory pressure remains high, mineral prices are differentiated
Nickel ore supply: Indonesian nickel ore prices remain stable (1.8% Ni FOB $78/wet ton), with stable supply. The low-grade nickel ore in the Philippines continues to decline (0.9% Ni CIF $42/wet ton, down 2.3% weekly), mainly due to the end of the rainy season and an increase in shipping volume.
Inventory pressure still exists: LME nickel inventory decreased by 570 tons per week to 211662 tons. Shanghai nickel inventory increased by 1520 tons to 22141 tons per week, and remains at a high level overall.
Smelting profit pressure: The production profit margin of nickel pig iron (NPI) has dropped to 3.2%, and some enterprises have reduced production, but it has not yet formed a significant constraint on the supply side.
Demand side: weak recovery of stainless steel, slowing growth of new energy
Stainless steel demand: Production scheduled for August was 3.3041 million tons, a month on month increase of 2.29% and a year-on-year decrease of 1.64%, indicating a transition from off-season to peak season, but slow destocking and average market transactions. On August 15th, the benchmark price of stainless steel in Shengyi Society was 12264.29 yuan/ton, an increase of 1.42% per week, but terminal procurement remains cautious.

New energy demand: The production of ternary precursors increased by 5.71% month on month in July, but considering the digestion of pre orders in August, the growth rate is expected to slow down to 5.4%. The production of ternary materials increased by 5.75% month on month in July, and the expected growth rate in August is expected to drop to 3.07%, with a marginal slowdown in demand growth. In terms of spot purchases, when the price drops below 121000 yuan/ton, there is an increase in demand purchases, but the overall market is still dominated by destocking, and the sustainability is questionable.
Future outlook:
The expectation of interest rate cuts by the Federal Reserve and progress in US China trade may support a slight increase in nickel prices due to liquidity, but geopolitical uncertainty and high inventory pressure are restraining the rise in nickel prices. It is expected that nickel prices will continue to fluctuate.

price trend
According to the bulk ranking data from Shengyi Society, the domestic PC market was mainly consolidating in the first half of August, with most spot prices of certain brands showing narrow fluctuations. As of August 13th, the mixed benchmark price of Business Society PC is around 14316.67 yuan/ton, with a price fluctuation of -0.12% compared to early August.
cause analysis
Supply side: In the first half of August, the load of domestic PC aggregation enterprises increased. The on-site supply is abundant, with high inventory levels remaining stagnant, and the pattern of ample PC supply remains unchanged. After the addition, there is a shortage of maintenance news in the market, and the pressure on shipments has not decreased. The market supply side has poor support for PC prices.
In terms of raw materials, it can be seen from the above chart that bisphenol A dominated the horizontal trend in the first half of August. The changes in upstream acetone and phenol are relatively small, which limits the guidance for bisphenol A. On the other hand, there is a trend of relaxed supply of bisphenol A, while weak demand remains unchanged, and the market lacks upward momentum. Overall, the bisphenol A market is stable with some weakness, and its support for PC costs is average.
On the demand side: Currently, we are still in the traditional off-season period for PC, with low downstream factory loads and weak stock availability, mainly due to rigid demand. We have not seen any early warehouse construction operations. Due to the long-term weak market dynamics in the industry, high social inventory, and abundant on-site supply, the supply-demand contradiction within the range has not improved. At present, terminal enterprises are cautious in purchasing new orders and are resistant to high priced goods. The financial pressure on merchants has increased, and there has been an increase in the practice of offering discounts on actual orders. The circulation speed of on-site goods is slow, and the trading performance continues to be dominated by contract delivery. Overall, the demand side has weak support for PC spot prices.
Future forecast
The domestic PC market fluctuated and consolidated in the first half of August. The upstream bisphenol A market is stable with some weakness, providing average support for PC cost values. The load of domestic PC aggregation plants has increased, but the pattern of strong supply remains unchanged. The off-season characteristics of downstream demand remain unchanged, and market benefits are difficult to materialize. Industry players are adopting a wait-and-see attitude towards the future market. Although the current PC price is at a historical low, the market momentum is unlikely to improve in the short term, and it is expected that the PC market will continue to search for a bottom in the future.

Last week (August 4-10, 2025), the market trend of upstream nylon PA6 chips for nylon filament gradually stabilized, with limited cost support and high inventory levels in the market. The supply side performed well, but the demand side did not improve. Downstream manufacturers’ purchasing enthusiasm was difficult to increase, and the market trading atmosphere was average. The price trend of nylon fiber market was weak and stable.
According to the Commodity Market Analysis System of Shengyi Society, the price of nylon filament remained weak and stable last week (August 4-10, 2025). As of August 10, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 14320 yuan/ton; Nylon POY (premium product; 86D/24F) quoted 12050 yuan/ton; The price of nylon FDY (premium: 40D/12F) is quoted at 14900 yuan/ton, which is the same as the previous period.
Weak and stable support on the raw material side
In terms of cost: Last week (August 4-10, 2025), the spot market price of caprolactam remained weak and stable. The weekly settlement price of caprolactam by Sinopec was 9050 yuan/ton (interest free for six-month acceptance). The market price of nylon PA6 slices was weak and stagnant, with weak cost support. As of August 10, 2025, the benchmark price of caprolactam in Shengyi Society is 9070 yuan/ton, mainly due to weak price consolidation. During the week, the market price of high-speed spun nylon PA6 chips remained weak, stable, and fluctuating, with weak cost support being the main factor.
Supply and demand: During the week, some nylon filament manufacturers have lowered their operating rates, resulting in a decline in overall market supply. However, industry inventory levels continue to increase, leading to poor performance on the supply side; The demand in the end market is weak, and some downstream manufacturers have reduced production or switched production, resulting in a decrease in demand for nylon filament. It is difficult to find favorable support from the demand side, and many parties are following suit with rigid demand. Many industry players are adopting a cautious and wait-and-see attitude.
Future forecast
Cost aspect: In terms of caprolactam, the expectation for pure benzene is weak, and slice manufacturers have low enthusiasm for purchasing caprolactam. It is expected that the caprolactam market will be dominated by weak and low-level consolidation next week; In terms of PA6 slicing, cost support is limited, and the supply level of PA6 slicing market may continue to improve. Downstream market demand is weak, and it is expected that the market price of nylon PA6 slicing will weakly decline.
Supply and demand: August belongs to the off-season of traditional demand in the market, coupled with the lack of signs of improvement in terminal market demand and low purchasing enthusiasm in downstream markets. Therefore, it is expected that the demand for nylon filament market may decrease next month. If there is no significant improvement in demand, under the pressure of large inventory, some nylon filament manufacturers may have the possibility of reducing production capacity, while the industry continues to release new production capacity. Therefore, it is expected that the supply of nylon filament market will decrease next month.
Overall, both the upstream raw material caprolactam spot market and the nylon PA6 chip market are likely to continue to decline, with a lack of cost support and difficulty in improving downstream market demand. The demand side is dragging down market trends, and under the dual negative factors, analysts from Shengyi Society predict that the short-term nylon filament market price will mainly consolidate weakly.