According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has fluctuated and slightly rebounded recently (11.1-11.13). As of November 13th, the spot rubber market in China’s natural rubber market was around 14883 yuan/ton, an increase of 0.90% from 14750 yuan/ton at the beginning of the month, and an increase of 2.88% from the low point of 14466 yuan/ton during the cycle. Supported by the cost of natural rubber raw materials and the urgent demand, natural rubber has slightly rebounded. However, the slight increase in Tianjiao inventory at the port has a certain bearish impact on the Tianjiao market. As of November 13th, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 14800~15100 yuan/ton.
As of November 13th, the price of Thai glue was 56.30 baht/kg, a slight increase of 0.54% from 56.00 baht/kg at the beginning of the month. The current price of natural rubber raw materials is still running at a high level, and domestic rubber cutting will gradually stop in the later stage. However, the global rubber cutting season will gradually come, and the overall supply of natural rubber raw materials is expected to increase in the later stage. The price of natural rubber raw materials may fall from a high level.
Recently (11.1-11.13), natural rubber inventory has continued to decrease slightly, which has a greater impact on natural rubber. As of November 9, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 449500 tons, an increase of 1800 tons or 0.40% compared to the previous period.
Recently (11.1-11.13), downstream tire production has slightly increased, providing essential support for the natural rubber market. As of November 7th, the construction of semi steel tires by domestic tire companies has slightly increased to around 7.40%; The production of all steel tires by tire companies in Shandong Province has slightly decreased to around 6.5%.
Market forecast: Currently, natural rubber raw material prices are running at a high level, supported by downstream demand, and the inventory of Tianjiao Port has slightly increased. Overall, it is expected that the natural rubber market will mainly fluctuate within a certain range before the holiday.

According to the commodity analysis system of Shengyi Society, the hydrogen peroxide market continued to weaken and prices fell in early November. On November 1st, the average market price of hydrogen peroxide was 930 yuan/ton, and on November 12th, the average market price of hydrogen peroxide was 860 yuan/ton, a decrease of 7.53% in price.
The main bearish trend is the continued weakening of the hydrogen peroxide market
In early November, hydrogen peroxide supply was loose, terminal demand was sluggish, and negative factors dominated, resulting in a continuous decline in the hydrogen peroxide market. The average price of hydrogen peroxide in the Shandong region is 850-880 yuan/ton, with a price drop of 50 yuan/ton. The average price of hydrogen peroxide in the Anhui region is around 850 yuan/ton, with a price drop of 50 yuan/ton. As of November 12th, the average price of hydrogen peroxide in the domestic market has dropped to around 860 yuan/ton, an overall decrease of 100 yuan/ton from the beginning of the month.
The hydrogen peroxide analyst from Shengyi Society believes that at the end of November, the demand for terminal printing and papermaking industry was weak, and the pressure on hydrogen peroxide supply doubled. The market will continue to operate weakly in the future.

At present, the acrylic acid market is showing a pattern of interval operation and overall stability. As of November 11th, the benchmark price of acrylic acid in Shengyi Society was 6200.00 yuan/ton, a decrease of 4.62% compared to the beginning of this month (6500.00 yuan/ton), and the overall market atmosphere remained stable. Traders follow the market and make offers accordingly, leading to differentiation in downstream purchasing behavior. However, the activity of inquiries and transactions in some regions has increased compared to the previous period.
Cost side:
The price of upstream raw material propylene continues to rise. As of November 11th, the benchmark price of propylene in Shengyi Society was 5958.25 yuan/ton, a decrease of 1.65% compared to the beginning of this month (6058.25 yuan/ton). This directly raises the production cost of acrylic acid, building a solid bottom for market prices and becoming the most critical factor in preventing market decline at present.
Supply side:
The positive changes in the supply side are the main driving force for market stabilization and even brewing rebound. Last weekend, a facility in Yantai entered maintenance as planned, reducing the spot supply in the region. A mainstream acid factory in Shandong has suspended the sale of spot goods to the outside world, which significantly enhances the market’s expectation of supply tightening and directly strengthens the producer’s confidence in raising prices. Although there are plans to resume production in Ningbo and Huizhou this week, the overall operating rate of the industry is expected to remain at around 70%, and the supply pressure is controllable.
Demand side:
The demand side presents an uneven trend of “cold and warm”: the northern region is affected by low temperature weather, and some downstream construction industries are restricted, resulting in weak demand. With signs of stabilization and even rebound in the market, it has stimulated some downstream enterprises’ “bottom fishing” procurement demand.
Overall, it is expected that the domestic acrylic acid market will enter a stage of “consolidation and operation, easy to rise but difficult to fall” in the short term. Strong cost support and the willingness of the supply side to actively raise prices will form a game with regional demand differences. Under high cost pressures, manufacturers have limited room for price reductions. The overall market will focus on stability, but in regions such as North China, driven by favorable supply side conditions, there is a possibility of a slight upward trend.

According to the Commodity Market Analysis System of Shengyi Society, on November 10th, the price of lithium carbonate increased significantly. The benchmark price of battery grade lithium carbonate was 83200 yuan/ton, up 4.92% from the previous day, and the benchmark price of industrial grade lithium carbonate was 81433 yuan/ton, up 5.03% from the previous day.
Explosive demand side: Strong driving force in the battery and energy storage fields
The concentrated outbreak of demand for downstream new energy vehicles and energy storage industries is the core driving force behind this price increase. Since 2025, the prices of the midstream industry chain of new energy vehicles have gradually stabilized and the supply and demand structure has improved, and a new upward cycle is expected to start. At the same time, the demand growth potential in the energy storage field is enormous, and the growth rate of energy storage demand is expected to reach 50% by 2026.
The rapid growth of demand has directly driven the purchasing enthusiasm of the upstream and downstream of the lithium battery industry chain. Electrolyte manufacturers have significantly increased their procurement of raw materials such as lithium carbonate to meet production needs, forming strong demand support and driving up prices.
Supply side tension: lithium mine resumption falls short of expectations, exacerbating the gap
The tight situation on the supply side has further amplified the price increase, with the key factor being the slower than expected resumption of production at Jiangxi Jianxiawo Lithium Mine. The lithium assessment report results were lower than expected and the relevant approvals have not yet been implemented. The delay in resuming production has significantly increased the market’s expectation of tight supply of lithium carbonate.
Industrial chain transmission: the linkage effect of the skyrocketing price of lithium hexafluorophosphate
The significant increase in prices of products related to the lithium battery industry chain has formed a linkage effect, further driving up the price of lithium carbonate. The price of lithium hexafluorophosphate has risen by as much as 99% in just over a month, reaching a recent high. The core driving force behind the significant increase in the price of lithium hexafluorophosphate is the explosive demand for downstream new energy vehicles and energy storage industries, which has led to a significant increase in the purchasing volume of electrolyte manufacturers.
As a key raw material for lithium battery electrolytes, the skyrocketing price of lithium hexafluorophosphate reflects the strong demand for downstream lithium battery production, which is transmitted to the upstream lithium carbonate link, further strengthening the market demand expectation for lithium carbonate and causing the price to skyrocket.
Business Society’s lithium carbonate data analyst believes that against the backdrop of favorable factors on both the supply and demand sides and a linked rise in industry chain prices, lithium carbonate prices have skyrocketed, and it is expected that lithium carbonate prices will maintain a strong trend in the short term.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the week was 12600 yuan/ton, and the price of activated carbon at the end of the week was 12633/ton, with a price increase of 0.26%.
Domestic coconut shell activated carbon manufacturers’ prices have risen this week, with the ex factory price of activated carbon for coconut shell water purification in East China ranging from 9500 to 13000 yuan/ton. Coconut shell activated carbon is in high demand in water treatment, air purification, sodium ion batteries, and other fields, supporting the price increase. In addition, the high transportation requirements for coconut shell carbonized materials, as well as cost factors such as packaging, insurance, and port operations, support the high price of activated carbon.
The price fluctuations of wooden and bamboo activated carbon are relatively small, while physical method wooden and bamboo carbon are supported by costs, and factory quotations are mainly stable. The main coconut producing countries in Southeast Asia are affected by natural disasters, policy adjustments, and other factors, resulting in a shortage of raw material supply. Although some countries have plans to expand production, the tight supply situation is difficult to change in the short term, and prices will still remain high. ‌‌
Prediction: There is a shortage of coconut shell activated carbon raw materials in China, and it is expected that the price of activated carbon will mainly fluctuate at a high level in the short term.