According to the commodity analysis system of Shengyi Society, in early November, the hydrogen peroxide market fell and prices went down. On November 1st, the average market price of hydrogen peroxide was 930 yuan/ton, and on November 4th, the average market price of hydrogen peroxide was 896 yuan/ton, a decrease of 3.58% in price.
Negative pressure suppresses the downward trend of hydrogen peroxide market
At the beginning of November, the supply of hydrogen peroxide increased, terminal demand weakened, and negative factors compounded, causing the hydrogen peroxide market to gradually decline and prices to fall. The average price of hydrogen peroxide in the Shandong region is 850-900 yuan/ton, with a price drop of 50 yuan/ton. The average price of hydrogen peroxide in the Anhui region is around 870 yuan/ton. As of November 4th, the average price of hydrogen peroxide in the domestic market has dropped to around 890 yuan/ton, with an overall decrease of 50 yuan/ton.
The hydrogen peroxide analyst from Shengyi Society believes that in mid November, the demand for terminal printing and papermaking industry is average, and the pressure on hydrogen peroxide supply is still present. The market will continue to operate weakly in the future.

The phthalic anhydride market fluctuated and fell in October
According to the Commodity Market Analysis System of Shengyi Society, as of October 31, the price of phthalic anhydride in neighboring countries was 5950 yuan/ton, which fluctuated and fell from the price of phthalic anhydride on October 1, which was 6293.33 yuan/ton, and hit the lowest price of phthalic anhydride since March 2021. The price of phthalic anhydride has been declining for seven consecutive months, with a 5.46% drop in October, marking the largest monthly decline of the year.
In October, the prices of raw materials such as ortho benzene fell, industrial naphthalene prices weakly declined, and the cost of phthalic anhydride decreased. The equipment load of phthalic anhydride slightly rebounded in October, and the operating rate of phthalic anhydride enterprises increased. The supply of phthalic anhydride was sufficient, and the downstream plasticizer market fluctuated and fell. The equipment operating load of plasticizer enterprises decreased, and the demand support for phthalic anhydride weakened. Due to the decrease in costs and weak demand, the price of phthalic anhydride fluctuated and fell in October.
The cost of phthalic anhydride decreased in October
On October 31st, Sinopec quoted a price of 6300 yuan/ton for ortho benzene, a decrease of 100 yuan/ton or 1.56% from the price of 6400 yuan/ton on October 1st. The price of industrial naphthalene has fluctuated and fallen, the price of ortho benzene has fallen, and the cost of phthalic anhydride has decreased. The operating load of phthalic anhydride equipment has slightly increased, and the overall operating rate of phthalic anhydride enterprises has risen, indicating sufficient supply of phthalic anhydride.
Demand side: Downstream production decreases, DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of October 31st, the DOP price was 7009.16 yuan/ton, a fluctuating decrease of 4.86% compared to the DOP price of 7367.50 yuan/ton on October 1st. In October, DOP prices fluctuated and fell, with DOP companies operating at less than 60% capacity, resulting in a decrease in operating rates. Demand for phthalic anhydride was weak, and the downward pressure on phthalic anhydride increased.
Future forecast
The data analyst for phthalic anhydride products at Shengyi Society believes that in terms of demand, the DOP equipment load of plasticizer companies has decreased to less than 60%, resulting in a decrease in plasticizer production and a decrease in phthalic anhydride demand support; In terms of supply, the operating rate of phthalic anhydride enterprises has slightly increased, and the supply of phthalic anhydride is sufficient, but the support for the rise of phthalic anhydride is insufficient; In terms of cost, the price of ortho xylene has fallen, the price of industrial naphthalene has weakened, and the cost of phthalic anhydride has decreased. Overall, the cost of phthalic anhydride decreased in October, with weak demand and sufficient supply, resulting in a volatile decline in phthalic anhydride prices.
In late October, the operating rate of DOP enterprises slightly rebounded, DOP production increased, and demand for phthalic anhydride slightly rebounded. The operating rate of phthalic anhydride enterprises increased, and the expected production of phthalic anhydride increased, indicating sufficient supply of phthalic anhydride. In the future, with strong supply and demand, insufficient cost support, and limited downward space for phthalic anhydride prices, it is expected that phthalic anhydride prices will remain weak and consolidate at a low level.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fluctuated and rose this week (10.27-10.31), with an average market price of 283510 yuan/ton at the beginning of the week and 284350 yuan/ton at the end of the week, with a weekly increase of 0.30%.
Recently, the fundamentals of tin prices have remained relatively stable, and their trend is more determined by domestic and international macroeconomic expectations. Especially during periods of concentrated macroeconomic favorable factors, tin prices have shown a relatively strong performance.
Against the backdrop of sustained supply side constraints and widening supply-demand gaps, it is expected that tin prices will exhibit a strong upward trend of oscillation. However, given that the current tin price is already relatively high, the consumer response may limit its further upward potential.
At the mining end, the progress of resuming production in Myanmar’s mines is slow, and it is expected that significant recovery will not be achieved within this year, so the supply of imported minerals is still limited. In the refining process, with the completion of the smelting plant maintenance work in October, the operating rate in Yunnan region has significantly increased, and it is expected that the production will show a significant increase. However, due to the adjustment of Indonesia’s RKAB approval system, the export speed of Indonesia will slow down, which may lead to certain restrictions on China’s import volume from Indonesia. Overall, the supply side is still in a tight state.
On the demand side, the growth rate of domestic refined tin consumption has significantly slowed down since the second half of the year. At the same time, due to the high level of tin prices, the purchasing willingness of downstream enterprises has decreased, and the overall performance of the consumer side is weak, mainly driven by rigid demand. We need to pay attention to whether there will be any improvement in the year-end consumer end due to the impulse effect.
comprehensive analysis
Recently, the fundamentals of tin prices have remained stable overall, and their price fluctuations are more influenced by domestic and international macroeconomic expectations. Especially during periods when macroeconomic favorable factors are concentrated, tin prices tend to show a relatively strong trend. Based on this prediction, tin prices may continue to fluctuate and remain strong in the future.

The market for butadiene rubber in October was weak and declining. According to the commodity market analysis system of Shengyi Society, as of October 30th, the market price of butadiene rubber in East China was 11190 yuan/ton, a decrease of 4.11% from 11670 yuan/ton at the beginning of the month.
Since October, some units have restarted and domestic butadiene production has rebounded. In addition, international crude oil has fluctuated and fallen, resulting in a significant decrease in raw material butadiene prices and a significant shift in the cost center of butadiene rubber; In addition, the start of production of butadiene rubber in October first increased and then decreased, and the pressure on the supply side gradually eased; Downstream tire production has steadily increased slightly, mainly supporting the demand for butadiene rubber. Under the comprehensive influence, the price of butadiene rubber weakened and decreased in October. As of October 30th, the mainstream prices in Qilu, Daqing, Sichuan, and Yangtze Shunding in East China were reported at 11050-11300 yuan/ton.
The price of butadiene weakened significantly in October, dragging down the market for butadiene rubber on the cost side. According to the Commodity Market Analysis System of Shengyi Society, as of October 30th, the price of butadiene was 7516 yuan/ton, a decrease of 15.42% from 8886 yuan/ton at the beginning of the month.
In mid to late October, domestic companies such as Qilu Petrochemical, Sichuan Petrochemical, Yangtze Petrochemical, and Zhejiang Petrochemical successively shut down their Shunding units for maintenance, resulting in a significant decrease in Shunding rubber production; In addition, there are maintenance plans for the Shunding unit of Maoming Petrochemical and Zhenhua New Materials in November.
Demand side: In October, there was a slight increase in downstream semi steel tire production, which provided strong support for the demand in the butadiene rubber market. As of October 24th, the construction of semi steel tires by domestic tire companies has started at around 7.4%; The construction of all steel tires by tire companies in Shandong Province has slightly increased to around 6.60%.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the abundant supply of raw material butadiene is mainly due to weak market conditions, with slight fluctuations in downstream tire production. In November, some Shunding units still have plans to shut down for maintenance. Overall, it is expected that Shunding rubber will experience weak fluctuations in the later period.

Recently (10.20-10.29), the trichloromethane market in Shandong region has remained relatively stable. According to the Commodity Market Analysis System of Shengyi Society, as of October 29th, the price of trichloromethane water in Shandong Province was 1700 yuan/ton, unchanged from the previous period. The raw materials methanol and liquid chlorine still have some support. Downstream production remains at a low level, dragging down the market for trichloromethane. However, the expected production of methane chloride has decreased, and the overall trichloromethane market is in a weak equilibrium state due to the comprehensive impact.
Recently (10.20-10.29), the Jinling methane chloride unit was restarted, the Jiangsu Liwen methane chloride unit was shut down for maintenance, and there are maintenance plans for the Jiuhong methane chloride unit in the later stage. The market expects a slight decrease in supply pressure in the later stage.
Recently, the price of methanol has been declining and the price of liquid chlorine has been rising, which still provides support for the cost of trichloromethane. According to the Commodity Market Analysis System of Shengyi Society, as of October 29th, the spot price of methanol was 2212 yuan/ton, a decrease of 3.41% from 2290 yuan/ton on the 20th. As of October 29th, the acceptance price of liquid chlorine tank trucks in Shandong region is around 250 yuan/ton, which is about 50 yuan/ton higher than the previous period.
The demand for downstream refrigerant R22 continues to be weak, and the support for trichloromethane demand has weakened. In addition, the R22 quota will continue to decrease in 2025, which will have a negative impact on trichloromethane. In 2013, the baseline production quota for second-generation refrigerants in China was 426400 tons. After multiple pressure drops, it will be reduced to 163600 tons by 2025. Among them, the production quotas for R22, R142b, and R141b are 149100 tons, 0.34 tons, and 0.92 tons, respectively.
The methane chloride data analyst from Shengyi Society believes that the demand for trichloromethane is relatively weak; However, with cost and supply support expectations, it is expected that the trichloromethane market will mainly consolidate in a narrow range in the later period.