According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China has risen three times this week (3.23-3.27), with an average market price of 341840 yuan/ton at the beginning of the week and 354170 yuan/ton as of March 27th, an increase of 10.56%.
This week, the domestic tin market has emerged from a deep decline and hit the bottom, with a continuous rebound in a V-shaped reversal trend. The core driving force comes from the resonance of the previous oversold repair, low inventory support, marginal improvement of raw materials, downstream demand replenishment, and macroeconomic sentiment recovery. The market has shifted from a panic and sharp decline to a volatile and strong recovery.
supply side
On the cost side of raw materials: the mining margin is loose, processing fees have rebounded, and cost support has moved up. The Wa State operation in Myanmar is progressing, and production will gradually resume in late March. Exports to China have rebounded month on month, but transportation and shipments are still relatively slow. Indonesia’s tin ore and refined tin quotas for 026 are expected to be loose in supply. The resumption of production in domestic mines in Yunnan and Guangxi is slow, and the increase in output is limited.
supply side
The resumption of smelting production is slow, and the overall situation is tight for Yunnan refineries. Production will only resume at the end of March, with a 50% -60% operating rate and slow release of output. The tin inventory in the previous period was only 2130 tons (the lowest level in the past 3 years); LME tin inventory is 8720 tons, indicating a low global inventory. The circulation of goods is tight, and there are few low-priced sources of goods. Holders of goods have a strong willingness to raise prices.
Demand side
Traditional electronics (solder) have a low season in March, with semiconductor and PCB inventory being reduced, and purchases being made for immediate needs, small orders, and on-demand purchases. Photovoltaics, new energy, and stable demand for photovoltaic ribbon have become highlights. AI computing power, long-term positive, short-term unrealized.
comprehensive analysis
The short-term tin price maintains a strong range of fluctuations, with limited downward space and upward pressure. Focus on macro sentiment and fluctuations in the US dollar, as well as Myanmar mine shipments and domestic smelting operating rates.

According to data from the Commodity Analysis System of Shengyi Society, the hydrogen peroxide market fluctuated and rose in March, with an increase of over 31%. At the beginning of the month, the average price of hydrogen peroxide in the market was 600 yuan/ton. On March 26th, the price of hydrogen peroxide was 790 yuan/ton, an increase of 31.67%.
The bullish support for the continuous rise of hydrogen peroxide market in March
At the beginning of March, the demand for terminal paper printing industry was still acceptable, the operating rate of manufacturers was average, and the trend of hydrogen peroxide market was relatively stable. In the second week, affected by the situation in the Middle East, products such as crude oil and natural gas rose significantly, and the transportation cost of hydrogen peroxide increased. Manufacturers had a strong bullish mentality, and the market experienced a wave of upward trend. As of March 10th, the hydrogen peroxide market rose to around 670 yuan/ton, with a price increase of about 70 yuan/ton compared to the beginning of the month.
After mid month, the bullish trend continued, with tight supply and positive terminal demand. The hydrogen peroxide market continued to rise, reaching 790 yuan/ton, an increase of nearly 200 yuan/ton compared to the beginning of the month.
Business Society’s hydrogen peroxide analyst believes that some manufacturers’ equipment is still under maintenance, with tight supply and positive support, and the hydrogen peroxide market will continue to rise.

1、 Price trend
According to data monitored by Shengyi Society, as of March 25th, the average price of domestic industrial grade high-quality cyclohexane was 7400 yuan/ton. Recently, the market supply and demand have been relatively balanced, and the market has shown a stable and upward trend. In the short term, it is expected to mainly focus on stable and narrow consolidation.
2、 Market analysis
Market wise: Cyclohexane is mainly used for the production of cyclohexanol and cyclohexanone, and then used in fields such as nylon, coatings, synthetic fibers, etc. At present, the operating rate of downstream industries is not high, profits are under pressure, and procurement is mainly based on basic needs, lacking the motivation to replenish inventory on a large scale. Especially in the coatings and textile industries, the slow recovery of demand has suppressed the incremental demand for cyclohexane. The market mentality is cautious, and the focus of negotiations is stable. Due to weak supply and demand, industry players generally adopt a wait-and-see attitude, without significant selling pressure or strong price expectations. Business analysts have repeatedly pointed out that in the short term, the market will maintain a pattern of “supply-demand balance and stable price operation”.
In terms of supply: From the perspective of imports and exports, the overall import and export quantity of cyclohexane since 2025 is less than that of 2024, and the domestic supply is loose, showing a state of “supply exceeding demand and high inventory operation”. Although the demand for cyclohexane in Southeast Asia, the Middle East and other places has grown rapidly, providing export space for Chinese enterprises, the overall export volume has decreased year-on-year, further exacerbating the supply pressure in the domestic market. Do you need me to compile a comparison table of major cyclohexane production enterprises and supply capacity for you? I can help you sort out the production capacity distribution, product specifications, and market positioning of self use and export oriented enterprises, which will facilitate your procurement or competitive analysis.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that in the short term, the cyclohexane market will continue to operate at its current trend, with stable prices being the main factor.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of March 24th, the average quotation price of domestic high-quality DMF enterprises was 5440 yuan/ton. Currently, the overall DMF market is stable, moderate, and strong. After a continuous sharp rise in mid March, this week it entered a stable price wait-and-see period, with manufacturers raising prices and downstream cautious procurement.
2、 Cause analysis
In terms of the market, the sharp rise in raw material methanol has driven up costs, which is the main reason for this round of price increases. Supply and demand are tight, some equipment is undergoing maintenance/load reduction, and inventory is low; Downstream demand for replenishment is urgent, but high prices are suppressing speculative purchases. The domestic DMF market has been operating with strong prices recently, with mainstream quotes ranging from 5150-5700 yuan/ton, a significant increase from the beginning of the year. Affected by the supply-demand game, the market as a whole shows a phased rebound trend after a low and narrow range oscillation. The average price at the end of February 2026 starts at 3940 yuan/ton, and DMF prices continue to rise, with an increase of over 36%. This wave of increase is mainly driven by enterprise price hikes, cost support, and short-term export orders.
Supply side: The total domestic production capacity remains at 1.77 million tons per year (2025 data), and the industry operating rate has been running at a low level of around 40% for a long time. The situation of severe overcapacity has not changed. There will be no new production capacity investment from 2025 to 2026, and many expansion projects have been put on hold, easing further downward pressure.
Demand side: The downstream main force is polyurethane slurry (accounting for over 50%), electronics, pharmaceuticals and other fields. At present, domestic demand is still weak, and downstream demand is mostly replenished on demand. However, strong exports have become an important support – the export volume will increase by 26.10% year-on-year in 2025, mainly sold to South Korea, Japan, and India.
3、 Future forecast
DMF analysts from Shengyi Society believe that the DMF market will continue to maintain a low volatility pattern, with limited upward potential and overall market supply and demand balance.

According to the Commodity Market Analysis System of Shengyi Society, the domestic PP market had a “good start” in late March, with prices rising strongly. As of March 23, the benchmark price for PP wire drawing in Shengyi Society was reported at 9360 yuan/ton, a significant increase of 7.05% compared to the previous trading day, with a year-on-year increase of up to 40.96%. The market shows a typical cost driven upward trend.
price trend
Cost side: The raw material market is strengthening across the board, with strong support
After the Middle East crude oil was affected by transportation disruptions and the cancellation of long-term contracts in early March, the situation has not eased recently, and some countries have significantly reduced their crude oil production due to force majeure. Combined with the firm stance of OPEC+production cuts, international oil prices have risen at a high level recently. The uncertainty and medium-term nature of the current US Iran situation continue to raise concerns among industry players, leading to a strong trend in PP’s remote cost value. In terms of propylene, it has followed the upstream trend, coupled with the concentrated landing of enterprise equipment maintenance, some equipment has reduced load operation, and the effective supply in the market has significantly decreased, highlighting the tight pattern of spot resources. At the same time, the arrival of propane at ports has decreased synchronously, and domestic and foreign commodity prices remain high, with a high focus on spot prices. Overall, the prices of PP raw materials are positive, providing strong support for PP costs.
Supply side: Maintenance peak approaching, supply pressure easing
Entering late March, the maintenance plans of domestic PP enterprises are relatively concentrated, and the overall operating rate is not high. As of the time of writing, the overall load level of the domestic industry has dropped to around 70%. In the early stage, there were multiple sets of equipment maintenance in enterprises such as Zhejiang Petrochemical and Maoming Petrochemical. Last week, some companies also implemented maintenance plans one after another. The total production capacity of industry maintenance is at a historical high, with an average weekly output of less than 730000 tons. The inventory level has dropped to 860000 tons, and the arrival of imported materials at ports has also significantly decreased. Overall, the supply side’s support for spot prices is still acceptable.
Demand side: High prices suppress chasing after gains, cautious follow-up on transactions
Affected by high spot prices, the overall trading atmosphere in the downstream market of the industry has been cautious since the beginning of the month. In the early stage, some refineries oversold contracts and chase orders were basically delivered, but the current transaction pace has slowed down and warehouse building operations have decreased. Buyers often use and take as you go, with scattered small orders being the main focus. Some terminal small and micro enterprises have reduced production and stopped production due to high cost pressures, while large and medium-sized enterprises have stabilized their inventory. The overall demand side is in a wait-and-see situation, with performance falling short of market expectations and average support for PP.
Future forecast
The current PP market is in a game pattern of “strong cost, strong supply contraction, and weak demand”. The supply side has tightened due to high maintenance levels, but with a large production capacity base, inventory can still ensure basic market supply.
Overall, PP analysts from Shengyi Society believe that in the short term, the core driving force of the PP market will still be cost logic, and spot prices may remain in a high range of fluctuations. It is recommended to closely monitor the fluctuations in the crude oil market and the follow-up of downstream demand, and be alert to the further suppression of demand by high prices.