According to the Commodity Market Analysis System of Shengyi Society, as of March 26th, the average price of acetic acid was 2810 yuan/ton, a decrease of 1.40% compared to the acetic acid price of 2850 yuan/ton on March 17th, and an increase of 0.36% compared to the beginning of the month.
Recently, the acetic acid market has been weak, and enterprise quotations have been continuously lowered. On the supply side, the utilization rate of acetic acid production capacity has increased, the market supply volume has increased, and the shipping sentiment of enterprises is strong. The enthusiasm of downstream market entry is weak, and a small amount of purchases are closely following demand. The shipment of enterprises is poor, and under the game of supply and demand, the price of acetic acid is weakly lowered.
As of March 26th, the market prices of acetic acid in various regions are as follows:
Region/ On March 17th/ On March 26th/ rise and fall
South China region/ 2875 yuan/ton/ 2825 yuan/ton/ -50
North China region/ 2725 yuan/ton/ 2710 yuan/ton/ -15
Shandong region/ 2830 yuan/ton/ 2750 yuan/ton/ -80
Jiangsu region/ 2700 yuan/ton/ 2650 yuan/ton/ -50
Zhejiang region/ 2875 yuan/ton/ 2850 yuan/ton/ -25
The upstream methanol market is experiencing strong fluctuations. From March 17th to 26th, the average domestic market price increased from 2670.00 yuan/ton to 2679.17 yuan/ton, with an overall increase of 0.34%. In the early stage, the macro market sentiment rebounded, coupled with low inventory and limited loading by some enterprises, and the implementation of planned maintenance for some domestic facilities. The enthusiasm for trade procurement was high, which promoted the strength of the domestic methanol market. Later, downstream resistance caused the market transaction center to fall back.
The downstream acetic anhydride market continues to decline. On March 26th, the average ex factory price of acetic anhydride was 4800.00 yuan/ton, a decrease of 2.29% compared to the price of 4912.50 yuan/ton on March 17th. The upstream acetic acid market is running weakly, the cost of acetic anhydride is bearish, enterprise quotations have been lowered, downstream demand is weak, market transactions are insufficient, and acetic anhydride prices have continued to decline during the cycle.
In terms of future market forecast, the acetic acid analyst from Shengyi Society believes that the acetic acid plant is currently operating stably, with sufficient market supply. Enterprises are actively shipping, and downstream market entry is following up as needed. The trading atmosphere in the market is relatively weak, and it is expected that the acetic acid market will operate in a wait-and-see manner in the short term. Specific attention will be paid to changes in the plant and downstream follow-up situations.

According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market fluctuated and slightly rose recently (3.18-3.26). As of March 26, the spot rubber market in China’s natural rubber market was around 16636 yuan/ton, up 0.39% from 16571 yuan/ton on the 18th, with a low point of 16502 yuan/ton and a high point of 16656 yuan/ton during the cycle. High price consolidation of raw materials; Domestic Tianjiao Port inventory continues to increase; The downstream construction is basically stable; The volatile consolidation of the Shanghai rubber market has led to a slight adjustment in the spot market of natural rubber.

At present, foreign natural rubber supply will gradually enter an increasing production period from a low production period. The Yunnan production area in China will be the first to enter a trial cutting period, while production areas such as Hainan, Vietnam, and northeastern Thailand in China will still stop cutting. Currently, natural rubber raw material prices are consolidating at a high level, and it is expected that they may decline in the future. As of March 24th, the price of Thai glue was 68.00 baht/kg, slightly higher than the 67.00 baht/kg on March 18th.

Natural rubber inventory continues to increase slightly, but overall it remains at a high level. As of March 23, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 602300 tons, an increase of 0.3 million tons or 0.5% compared to the previous period.

Supply and demand side: Downstream tire production is basically stable, mainly supporting the demand for natural rubber market. As of March 21st, the operating load of semi steel tires in domestic tire enterprises is around 8.30%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 6.9% of the load.

Market forecast: When domestic and international raw material prices stabilize at a high level, but in the later stage, with the opening of some regions at home and abroad, the price of natural rubber raw materials may continue to fall. The downstream construction is gradually increasing, which provides some essential support for the demand for natural rubber, but the inventory of Tianjiao Port continues to grow slightly; Overall, it is expected that the natural rubber market will weaken and consolidate in the later stage.

Last week (March 17-23, 2025), the upstream raw material caprolactam market continued to fall under pressure, and the nylon PA6 chip market continued to decline. The cost side support was lacking, and downstream demand did not improve, showing a weak performance. Downstream purchases were made on demand, and on-site actual transactions were limited. Many operators held a cautious and wait-and-see attitude, and some nylon filament manufacturers on the demand side offered discounts to sell, causing the nylon fiber market price to continue to decline.

According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament continued to decline last week (March 17-23, 2025). As of March 23, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16080 yuan/ton, a decrease of 320 yuan/ton from last week, a weekly decrease of 1.95%; Nylon POY (premium product; 86D/24F) is priced at 13750 yuan/ton, a decrease of 300 yuan/ton from last week, with a weekly decrease of 2.14%; The price of nylon FDY (premium product: 40D/12F) is reported at 16725 yuan/ton, a decrease of 300 yuan/ton from last week, with a weekly decline of 1.76%.

Raw material caprolactam continues to decline

In terms of cost: Since late February, the price trend of caprolactam in the market has been continuously declining. From mid February to now, the settlement price of Sinopec caprolactam has fallen by 940 yuan/ton, and as of March 23, it has been executed at 10720 yuan/ton, a decrease of 8.77%. The negative impact on the cost side is widespread, and the performance of terminal demand is not as expected, which has led to a sharp increase in shipment pressure to the polymerization factory. The demand side’s follow-up sentiment towards caprolactam has rapidly cooled down. As of March 23, 2025, the benchmark price of caprolactam in Shengyi Society was 10340 yuan/ton, with a weekly decline of 1.90%.

Supply and demand: This week (March 17-23, 2025), downstream market purchasing willingness is not strong, demand has not improved, and the main consumption of raw material inventory is high. There is a strong atmosphere of wait-and-see in the market, with limited actual transactions and insufficient support from the demand side.

Future forecast

Cost wise: The market for caprolactam is bearish, and the production capacity of caprolactam in the market will be released, resulting in an increase in supply. The demand side will maintain on-demand procurement, and the short-term caprolactam market price will be mainly weak.

Supply and demand side: Most nylon filament manufacturers have resumed normal production, and the on-site supply will increase significantly. At the same time, the overall inventory level in the market may increase; Downstream enterprises have a certain amount of raw material inventory, and coupled with insufficient confidence in the future market, the demand for replenishment is limited.

Overall, the spot market for raw material caprolactam and nylon PA6 chips are mainly operating weakly, with a lack of cost support and continued weak demand. There is a strong wait-and-see atmosphere in the market, and analysts from Shengyi Society predict that nylon filament prices may continue to decline weakly.

1、 Price trend

Taking the sulfuric acid method gold red stone type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market price has remained stable this week, with an average price of 15300 yuan/ton.

2、 Market analysis

The domestic titanium dioxide market is temporarily stable this week. The upstream raw material sulfuric acid price has risen, and the market price of titanium concentrate is high, putting cost pressure and significant production pressure on enterprises. The market may usher in the third round of price increases this year. As of now, the domestic quotation for sulfuric acid method pyrite type titanium dioxide is mostly around 14000-16000 yuan/ton; Sharp titanium type costs around 13200-13400 yuan/ton; The actual transaction price is negotiable.

In terms of titanium concentrate, the price of titanium concentrate has been consolidating at a high level this week. At present, downstream titanium dioxide factories have stable production, and inquiries are relatively average. The market is mainly observing and waiting. As of now, the transaction price of 46,10 titanium ore for small and medium-sized manufacturers is between 2080-2150 yuan/ton, the price of 47,20 titanium ore is between 2200-2280 yuan/ton, and the price of 38 titanium ore excluding tax is between 1480-1500 yuan/ton; It is expected that the Panxi region will maintain a high level of operation in the short term.

3、 Future forecast

The titanium dioxide analyst from Shengyi Society believes that the domestic titanium dioxide market is temporarily stable this week, with high prices of raw material titanium concentrate consolidating and sulfuric acid prices continuing to rise, resulting in significant cost pressure. Over the weekend, Longqi issued a letter to raise the price of titanium dioxide, indicating a stable and positive market trend.

This week (March 17-21), the PTA market maintained a slight recovery. According to the commodity market analysis system of Shengyi Society, as of March 21, the average price of PTA market in East China was 4877 yuan/ton, an increase of 1.25% from the beginning of the week.

The geopolitical situation is wavering between tension and easing, and the volatility of the international crude oil market still provides cost support for PTA. As of March 20th, the settlement price of the main contract for WTI crude oil futures in the United States was $68.07 per barrel, and the settlement price of the main contract for Brent crude oil futures was $71.47 per barrel.

The routine maintenance in the PX market in the second quarter brings good news. From April to May, there has been an increase in PX maintenance both domestically and internationally. According to the announced maintenance plan, there will be a maintenance scale of 6 million tons of equipment renewed domestically, and it is expected that there will be another 3.3 million tons of equipment under maintenance plan overseas. And there is a strong expectation of demand recovery, which will significantly improve the supply and demand pattern of PX and provide strong support for PTA.

From the perspective of PTA’s own supply, the maintenance plan for supply side equipment has gradually been implemented since March, and as of March 21, the operating rate of the domestic PTA industry is around 80%. However, the market circulation of goods is still relatively loose, resulting in a surplus of spot supply in the market, which is also the reason why PTA has not effectively boosted prices despite continuous destocking. Since March, PTA processing fees have improved compared to the previous month. It is expected that the scale of equipment maintenance will be slightly reduced in April, and subsequent equipment maintenance will decrease. The supply increment is expected to rebound.

In the downstream polyester market, some polyester bottle chip devices are planned to restart, and demand will increase. The trading atmosphere in the polyester filament market is generally average, and the room for further increase in operating load is limited. The pressure on polyester filament shipments in March will not decrease, and there is currently no plan for leading production companies to continue reducing production. The market supply is sufficient.

From the perspective of terminal weaving, there is currently a lack of cash flow in the process of adding and weaving, which is in a loss making state, suppressing the improvement of the production rate of adding and weaving, as well as the enthusiasm for stocking up. Currently, the production rate of weaving in Jiangsu and Zhejiang regions is nearly 70%. The impact of international trade frictions still exists, and recently the issuance of textile foreign trade orders has been slow. There is a large flow of exhibition visitors, but the transaction volume is relatively low.

Business analysts believe that there is currently no unplanned news on the supply and demand side of PTA, and the overall PTA market lacks the latest major news guidance, following cost fluctuations in the short term.