1、 Price trend
According to the commodity analysis system of Shengyi Society, the price trend of soda ash remained stable this week. As of May 25th, the average market price of soda ash was 1394 yuan/ton, which was the same as the soda ash price on May 19th and a decrease of 0.99% from the beginning of the month.
2、 Market analysis
The soda ash market has been running steadily this week. The operating rate of supply side equipment has decreased compared to last week, the supply of market goods has decreased, and the quotes of soda ash enterprises have remained firm; The enthusiasm for purchasing on the demand side is not high, the terminal trading is weak, and downstream support for soda ash is limited. Enterprises are adopting a wait-and-see attitude, and the focus of soda ash transactions is stable.
As of May 25th, the reference price for the soda ash market in East China is around 1300-1500 yuan/ton for light soda ash; The reference price for the soda ash market in Central China is around 1270-1400 yuan/ton for light soda ash.
According to the commodity analysis system of Shengyi Society, the downstream glass market is being organized and operated. From May 19th to 25th, the price of glass decreased from 14.55 yuan/square meter to 14.40 yuan/square meter, a decrease of 1.03%. The operation of glass market facilities has not changed much, downstream demand is average, and inventory consumption is the main factor. Glass inventory is weak, and market prices are weak.
Future forecast: Currently, some soda ash facilities are undergoing maintenance, and the market capacity utilization rate is not high. Soda ash companies’ quotations remain stable, but downstream demand is limited. The market transaction atmosphere is average, and there is a supply-demand game in the market. It is expected that the soda ash market will operate steadily in the later stage, and specific attention will be paid to downstream demand follow-up.

price trend
According to the bulk ranking data of Shengyi Society, the domestic PC market fell at a low level at the end of May, and the spot prices of some brands were lowered. As of May 26th, the mixed benchmark price of Business Society PC is around 14783.33 yuan/ton, with a price increase or decrease of -4.52% compared to early May.
cause analysis
On the supply side: As we enter late May, domestic PC aggregation enterprises will experience high and stable loads with small fluctuations. The current industry average operating level is 73%, which is basically the same as mid month. The weekly average production has stabilized at below 60000 tons. There is a possibility of load increase in the future market, and PC inventory has been at a high level for a long time. Only Yanhua Jucarbon has gradually arranged for parking, and the supply is at a high level. The on-site supply is very abundant. Manufacturers and midstream inventory are high, with limited improvement in shipping pressure, and the market supply side provides average support for PC prices.
In terms of raw materials, it can be seen from the above chart that the price of bisphenol A was relatively weak at the end of May. Downstream enterprises have inventory to be digested in the early and post holiday period, resulting in sluggish trading on site. At the same time, the industry load has increased recently, and the on-site supply of goods has increased. In terms of raw materials, both acetone and phenol have weakened, which has dragged down spot prices and caused fluctuations in the upstream crude oil market. Overall, bisphenol A has poor support for PC costs due to the supply-demand imbalance and cost impact.
In terms of demand, PC consumption continued to follow the pattern of rigid demand at the end of May, and new orders in the market remained basically at the same level as the same period in previous years. The downstream factories are operating normally and stocking up is proceeding as planned. Due to the long-term weak market dynamics in the industry, high social inventory, and abundant on-site supply, the contradiction between supply and demand tends to lead to destocking. Before the Dragon Boat Festival, there was no significant volume of new order purchase, and the trading performance continued the pattern of contract delivery. Merchants tend to have a wait-and-see attitude, buyers are resistant to high priced goods, and the flow of goods in the market is slow. Overall, the demand side has weak support for PC spot prices.
Future forecast
At the end of May, the domestic PC market fell at a low level. The upstream bisphenol A market is weakly consolidating, providing poor support for the cost side of PC. The load of domestic PC aggregation plants is generally flat, and the pattern of strong supply remains unchanged. However, there is a trend of supply recovery in some areas, while downstream demand follows the logic of essential demand, and industry players remain cautious about the future market. At the same time, the industry’s inventory is high, and the seller camp is willing to sell and sell at a discount. It is expected that the PC market will remain stagnant and consolidate in the short term. It is recommended to closely monitor the industry’s inventory digestion situation.

This week, PET prices have fallen. According to the price data from Shengyi Society, as of May 23rd, the average selling price of PET (polyester bottle flakes) is 6055 yuan/ton.
On the cost side, international crude oil prices have fallen, and polyester dual raw materials have both declined during the day. International oil prices were affected by OPEC+production expectations and the US Iran nuclear negotiations, with Brent crude oil falling below $70 per barrel, dragging down PTA and ethylene glycol prices. PTA spot prices fell to 4890 yuan/ton, ethylene glycol spot prices fell to 4500 yuan/ton, polymerization costs increased by 509 yuan/ton, and industry profit losses expanded to -317 yuan/ton. The cost support of PET is weak.
On the supply side, the pressure continues to increase, with the industry operating rate maintained at 87.93% and a weekly output of 365000 tons. Coupled with the addition of 2.15 million tons of new production capacity in 2025, concerns about oversupply have intensified. The current inventory days are about 16-18 days, which is at a high level during the same period. Spot circulation is tight in some areas such as Tianjin and Zhangjiagang, but the overall pattern of loose supply has not changed.
On the demand side, the operating rate of the soft drink industry has recovered to 80% -90%, but the inventory of end products is high, and replenishment is mainly based on small orders for essential needs. The export volume in February increased by 27.3% year-on-year to 487600 tons, but the global economic growth slowed down and overseas anti-dumping investigations restricted the increase in exports.
Overall, the weak support on the cost side, coupled with insufficient downstream demand follow-up, is the main reason for the decline in PET market prices. In the short term, the price of polyester bottle chips may continue to fluctuate at a low level. The actual trend still needs to pay attention to changes in external news, device changes, and demand recovery in the future.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on May 22 was 1035 yuan/ton, a decrease of 2.05% compared to the average price of 1056 yuan/ton on May 16.
2、 Market analysis
This week, the domestic ammonium sulfate market prices continued to decline. The operating rate of coke enterprises has not fluctuated much, and the operating rate of domestic enterprises has been slightly adjusted. This week, urea prices have weakened and fallen, which is bearish for the ammonium sulfate market. At present, particle manufacturers and downstream compound fertilizer enterprises are mainly in urgent need of replenishment, with a decrease in market inquiries and a strong wait-and-see attitude. As of May 22nd, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 990 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1000-1060 yuan/ton.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the market trend of ammonium sulfate has been weak and downward recently. At present, there is no positive news emerging in the market, and the demand for ammonium sulfate is light. It is expected that the domestic ammonium sulfate market price will continue to operate weakly in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic PP market was consolidating and operating in mid May, with most brand products experiencing narrow price adjustments. As of May 21st, the mainstream offer price for wire drawing by domestic producers and traders is around 7440 yuan/ton, a decrease of -0.56% compared to the price level at the beginning of May.
price trend
In terms of raw materials:
In mid May, the US China talks released many positive signals such as the suspension of tariffs, and crude oil prices continued to rebound. At the same time, the decoupling of domestic propane trade is expected to gradually be lifted, and the cost pressure on PDH manufacturing enterprises may decrease in the future, but the differentiation of demand will hinder the growth rate. There are expectations of loose supply in the propylene sector, leading to price fluctuations and adjustments. At the same time, geopolitical conflicts in Europe have eased, the OPEC+production increase agreement continues, and the current situation of weak economy and demand still exists. Overall, in mid May, the prices of various PP raw materials fluctuated, providing moderate support for PP costs.
Supply side:
In mid May, the load of domestic PP enterprises remained stable with small fluctuations, and the market supply remained generally abundant. Overall, the industry’s overall load level is almost the same as 77% in the first half of the year, with an average weekly total output of about 750000 tons. Although companies such as Juzhengyuan and Jinneng Chemical have maintenance plans, the restart of Lanzhou Petrochemical has basically smoothed out the production capacity lost during interval maintenance. In addition, with the production of 1.4 million tons of new capacity in the next quarter, there is a clear expectation of loose supply in the future. Although the total domestic inventory has decreased to 860000 tons, it is still at a high level. Overall, there is still some suppression on the spot price of PP by the supply side.
In terms of demand:
In mid May, the demand side of PP continued to be weak, and on-site trading gradually entered the traditional off-season, while stocking maintained a weak and rigid demand situation. In terms of plastic weaving, the consumption level of terminal enterprises has returned to the off-season level first. With the passing of the small peak in material usage, the release speed of PP demand in fields such as construction and agriculture has slowed down. Under the influence of the temporary suspension of tariffs between China and the United States in the early stage, market confidence has been strengthened, and there is a high expectation of a rebound in PP export consumption in the future. The export resistance of downstream PP products in China has decreased. However, the industry still needs to go through a process of simplification to offset some of the positive factors. The current buyers’ purchasing operations are still cautious and biased towards scattered small orders, although there has not been a significant increase in new orders in the market. Overall, the performance of the PP demand side in mid May was average.
Future forecast
In mid May, the domestic PP market prices were consolidating. Fundamentally speaking, the overall performance of upstream raw materials in supporting PP is average. The industry has abundant supply, with slight inventory digestion, and consumption entering the off-season level. The current outcome of the China US talks still has a positive impact on the upstream and downstream of PP, but the market is dominated by supply and demand, and the increase is not as expected. It is expected that the PP market will enter a consolidation weak market in the short term.