According to the Commodity Market Analysis System of Shengyi Society, lithium carbonate has shown a weak and volatile pattern recently, once again approaching the cost line. As of September 9th, the benchmark price of battery grade lithium carbonate trading company was 74033 yuan/ton, up 6.72% month on month and down 7.69% year-on-year. The benchmark price of industrial grade lithium carbonate trading company is 71966 yuan/ton, up 5.32% month on month and down 7.5% year-on-year.
Marginal improvement in supply and demand relationship, but inventory pressure still exists
The demand side is experiencing a seasonal rebound, and the production schedule for lithium iron phosphate materials is expected to reach a new high in September, with five consecutive months of month on month growth. The demand for energy storage batteries remains at full capacity. ​
Adequate supply side capability
The 40000 ton new project in Qinghai Salt Lake was put into operation in June, and the pyroxene production line of a lithium salt plant in Sichuan has entered the ramp up stage of production. Despite the accelerated withdrawal of high cost production capacity (partial shutdown of Australian hard rock lithium mines and Jiangxi mica mines), the overall operating rate of the industry remains high, and the resilience of the supply side remains strong. ​
Market driving factors: policy disturbance and cost game
In the short term, price fluctuations were disrupted by supply side policies. The shutdown of the Shixiawo mine in Ningde, Jiangxi Province, caused market concerns about supply contraction and led to a rebound in prices in August. However, as the market realized the limited impact of the shutdown and the expectation of resuming production emerged, emotions gradually cooled down.
Cost structure reshapes market competition pattern: Salt Lake lithium extraction, with its low-cost advantage, has shown strong resilience in the downward price cycle, further increasing its supply share. The increase in low-cost supply further suppresses the price rebound space, forcing high cost mines to shut down and accelerating industry clearance.
The data analyst of Business Society’s lithium carbonate believes that lithium carbonate is currently in a painful period of capacity clearance, and prices will repeatedly play around the cost line. Specific market changes and related policies still need to be monitored.

According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has risen recently (9.1-9.8). As of September 1st, the spot rubber market price in China’s natural rubber market was around 15416 yuan/ton, an increase of 3.06% from 14958 yuan/ton on September 1st. Downstream tire production has fluctuated slightly, forming a strong demand support for Tianjian; In addition, the high prices of natural rubber raw materials remain strong, and the cost support of natural rubber continues; In addition, the continued slight decline in domestic port inventory and favorable market sentiment have driven natural rubber prices to fluctuate and explore an upward trend. As of September 8th, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 15350~15600 yuan/ton.
As of September 8th, the price of Thai glue was 56.00 baht/kg, an increase of 0.99% from 55.45 baht/kg on September 1st. Recently, the main rubber production areas at home and abroad have been affected by rainfall and typhoons, resulting in lower than expected new rubber production and high raw material prices.
Recently (9.1-9.8), natural rubber inventories have continued to decrease slightly, and the market atmosphere has improved. As of September 7, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 592300 tons, a decrease of 10000 tons or 1.66% compared to the previous period.
Recently (9.1-9.8), there has been a slight consolidation in downstream tire production, providing essential support for the natural rubber market. As of September 5th, the construction of semi steel tires by domestic tire companies has slightly increased to around 7.3%; The production of all steel tires by tire companies in Shandong Province has slightly decreased to around 6.4%.
Market forecast: The current high and firm prices of raw materials both domestically and internationally, as well as stable downstream tire production and consolidation, provide support for the Tianjin rubber market. The Tianjin rubber port inventory has slightly decreased, and with the arrival of the peak season, it is expected that the natural rubber market will fluctuate and rise in the later period.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene fluctuated slightly and fell this week. On Monday, the price of pure benzene was 5975.33 yuan/ton, and on Friday it was 5945.33 yuan/ton, with a 0.5% drop in price during the week.
2、 Market analysis
Pure benzene: This week, the market price of pure benzene in Shandong region fluctuated slightly and fell. On September 4th, the pure benzene prices of Sinopec’s refineries in East and South China were lowered by 100 yuan to 5900 yuan/ton. International crude oil futures closed down, affecting confidence in the pure benzene market. Shandong Refinery offered discounts to sell, stimulating downstream purchases, and on-site transactions were still acceptable.
Downstream aspects
3、 Future forecast
Crude oil futures: On September 4th, international crude oil futures closed down. The settlement price of the October WTI crude oil futures contract in the United States was $63.48 per barrel, a decrease of $0.49 or 0.8%. The settlement price of Brent crude oil futures for November was $66.99 per barrel, a decrease of $0.61 or 0.9%.
Foreign pure benzene: On September 4th, FOB Korea fell 5 to 713 US dollars/ton, and CFR China fell 6 to 728 US dollars/ton. FOB Rotterdam fell 12 to 642 US dollars per ton, while FOB US Gulf rose 1 to 252 US cents per gallon.
Overall expectation: The pure benzene market is expected to experience slight fluctuations in the short term, with cautious trading. Observe the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.

According to the commodity analysis system of Shengyi Society, the styrene market fluctuated and fell this week, with an average price of 7510 yuan/ton at the beginning of the week and 7486 yuan/ton over the weekend, a decrease of 0.32% during the week.
News: On September 4th, international crude oil futures closed down. The settlement price of the October WTI crude oil futures contract in the United States was $63.48 per barrel, a decrease of $0.49 or 0.8%. The settlement price of Brent crude oil futures for November was $66.99 per barrel, a decrease of $0.61 or 0.9%.
Cost wise: Pure benzene fluctuated and fell this week. The average price at the beginning of the week was 5975 yuan/ton, and the average price over the weekend was 5967 yuan/ton, with a decrease of 0.12% during the week. Recently, pure benzene ports have been destocked, import pressure has eased, domestic maintenance and downstream demand have increased, and supply and demand are expected to improve seasonally in the third quarter.
Supply and demand side: The styrene industry is facing losses, with high production and supply maintaining high levels, and port inventory levels operating at high levels. Downstream EPS/PS have experienced a decline in industry production due to profit compression.
Styrene external market: On September 4th, the closing price of styrene in the Asian region fell by $5/ton, with closing prices of $850-855/ton FOB Korea and $860-865/ton CFR China..
Market forecast: The current styrene market fundamentals are weak, and if the enterprise maintenance plan is carried out on time in September and October, the supply side is expected to improve. Without significant changes on a macro level, it is expected that the styrene market will experience weak fluctuations in the short term.

The demand for hydrofluoric acid in the market was weak in August, and the price trend declined. According to the analysis system of Shengyi Society, as of August 29th, the benchmark price of hydrofluoric acid in Shengyi Society was 10650 yuan/ton, a decrease of -1.39% compared to July.
On the raw material side, the domestic fluorite price trend rose in August. As of the end of the month, the average domestic fluorite price was 3268.75 yuan/ton, an increase of 3.77% from the beginning of the month at 3150 yuan/ton, and a year-on-year decrease of 7.62%. The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has increased. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operating rate of fluorite enterprises. However, with the rise of temperature, northern enterprises are operating normally, and the supply of fluorite enterprises in the field has not changed much. Some fluorite manufacturers have appropriate inventory, and fluorite mining enterprises are holding up prices and selling goods. This has led to a rise in the fluorite market in August. The high cost end of hydrofluoric acid is under pressure, and the pressure of enterprise losses continues to intensify, resulting.
On the demand side: Although the downstream refrigerant market is in the traditional peak season, due to weak terminal demand and low stocking enthusiasm, upstream products are mainly purchased on demand, and there is a strong wait-and-see attitude. The market trading atmosphere is cold, and some companies have reduced their raw material demand due to profit losses. The demand for downstream refrigerants is average, and the market price of hydrofluoric acid is weak and declining.
Market forecast: In August, the domestic fluorite market prices will be under high pressure, with strong cost support and weak downstream terminal demand. Market trading will be sluggish, and enterprise losses will continue to increase. It is expected that the market price of anhydrous hydrogen fluoride will bottom out and rebound in September, with prices easily rising but difficult to fall. More attention should be paid to news from Longtou enterprises and market supply and demand.