1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market was 1250 yuan/ton on June 30th, and 1033 yuan/ton on June 1st. The market price of ammonium sulfate has increased by 20.97% this month.
2、 Market analysis
The ammonium sulfate market has seen a significant increase this month. In the first half of this month, there was a slight adjustment in the domestic ammonium sulfate market price. The fluctuation of enterprise operating rate is not significant, the supply and demand of ammonium sulfate market are stable, and downstream replenishment is mainly for urgent needs. In the second half of this month, due to geopolitical events, some countries have suspended production and restricted urea production. The global nitrogen fertilizer supply has decreased, and the international urea price has risen significantly, which has indirectly benefited the ammonium sulfate market. The domestic ammonium sulfate market price has risen significantly. After the international situation stabilized, the market cooled down and the price of ammonium sulfate began to fall. As of June 30th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 1155 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 1190-1230 yuan/ton.
According to the weekly K-bar chart from March 31, 2025 to June 23, 2025, it can be seen that the domestic ammonium sulfate cycle is fluctuating. The domestic price of ammonium sulfate increased significantly in June, with the largest increase being 15.77% in the week of June 16th.
3、 Future forecast
An ammonium sulfate analyst from Shengyi Society believes that the high price of ammonium sulfate in China has recently fallen and stabilized. At present, the ammonium sulfate market is becoming more rational and trading is stable. Downstream urgent procurement, with an increasing wait-and-see attitude. It is expected that the domestic ammonium sulfate market will remain stagnant and operate mainly in the short term.

In June 2025, China’s phenol production was 444000 tons, an increase of 3000 tons from May and a month on month increase of 0.6%. In June, there were 8 phenol ketone enterprises in China that underwent parking maintenance, involving a phenol production capacity of 1.24 million tons. The phenol loss of the parking enterprises was about 80000 tons. In June, the operating rate of Chinese phenol enterprises increased by 3% month on month, reaching 79.2%.

Prediction of domestic phenol production and operating rate in July 2025: production around 490000 tons, continuing to increase month on month; In July, new production facilities were added, increasing the production capacity base, and the capacity utilization rate is expected to be around 80%. We will continue to monitor the operation status of domestic phenol ketone enterprises’ facilities.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the aniline market saw a broad rise in June. On June 1st, the market price of aniline was 7225 yuan/ton, and on June 27th it was 8162 yuan/ton, an increase of 12.98% during the month and a decrease of 30.64% compared to the same period last year.
2、 Analysis and Review
The aniline market in June was mainly affected by costs and its own supply and demand. At the beginning of the month, the price of aniline fell to a low level, crude oil prices fluctuated and rose, and the raw material pure benzene market was boosted. The aniline market stopped falling and stabilized. In the middle of the month, due to the escalation of conflicts in the Middle East, geopolitical tensions have escalated, and concerns about oil supply disruptions have intensified. Crude oil prices have jumped, and raw material pure benzene has risen, driving up the price of aniline. At the end of the month, some factories underwent maintenance, resulting in a decrease in supply and a favorable supply-demand situation. As a result, the price of aniline continued to rise.
Pure benzene: In June, the pure benzene market followed the fluctuations of crude oil, and the overall price increased compared to the beginning of the month. On June 13th, tensions escalated in the Middle East, with oil prices reaching a two month high and pure benzene catching up significantly. On that day, the price of pure benzene rose by around 250-350 yuan/ton. On June 23rd, crude oil prices plummeted and pure benzene began to decline. On June 1st, the average price of pure benzene was 5735 yuan/ton, and on June 27th, the average price was 6007 yuan/ton, with a monthly increase of 4.75%.
3、 Future expectations
The current supply of aniline in the market is tight, and factory equipment has been shut down for a short period of time. Production will resume gradually next week, and the supply side will have all the good news. Due to the impact of crude oil, the price of pure benzene on the cost side has fallen. Based on cost and supply and demand pressures, it is expected that the price of aniline will be under downward pressure in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the domestic price of sodium metabisulfite has fallen this month. The average price of industrial grade sodium metabisulfite at the beginning of the month was 1916 yuan/ton, and the average price at the end of the month was 1853 yuan/ton, a decrease of 3.30% during the month.
This month, the domestic market price of industrial grade sodium metabisulfite has fallen, with upstream soda ash prices dropping by 7.36% and sulfur prices dropping by 4.89%. Manufacturers are operating normally with sufficient inventory, and raw material prices have fallen. In addition, demand has been light, resulting in a decrease in the price of sodium metabisulfite. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturers. For details, please contact each manufacturer for consultation.).
Future forecast
At present, the trading volume of sodium metabisulfite market is light, and it is expected that the domestic market price will mainly fluctuate and weaken in the short term.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has been consolidating at a low level recently, with a slight overall increase. As of June 23, the average market price of n-butane oxidation maleic anhydride remained at 6325 yuan/ton, an increase of 0.12% from 6317.50 yuan/ton on June 16.

Supply side: Recently, the market for maleic anhydride has been consolidating at a low level, with slight fluctuations in factory prices and limited new orders being signed. At present, Yantai Wanhua has plans to resume production in the near future, while Qingdao Refining and Chemical is shipping normally; Recently, downstream unsaturated resin manufacturers of maleic anhydride have been cautious in their stocking operations and are mainly observing the situation. As of June 23rd, the factory price of solid anhydride in Shandong region is around 6000 yuan/ton, and the factory price of liquid anhydride is around 5300 yuan/ton.
Upstream: Recently, the n-butane market has fallen, and as of June 23, the price in Shandong was around 4650-4700 yuan/ton.
Downstream: Recently, the unsaturated resin market has seen a slight increase, with the raw material market for unsaturated resin rising and supported by resin costs. However, currently unsaturated resin is still in the off-season, with average downstream transactions and limited support for unsaturated resin. The market has a strong wait-and-see sentiment.

The analyst of Business Society’s maleic anhydride products believes that the main downstream resin of maleic anhydride is still in the off-season, and the procurement of maleic anhydride is limited; The upstream n-butane market for maleic anhydride has fallen, and the cost support for maleic anhydride is limited. In addition, with sufficient supply in the maleic anhydride market, it is expected that the maleic anhydride market will mainly consolidate at a low level in the near future.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic sodium metabisulfite has risen this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 1860 yuan/ton, and the average price over the weekend was 1866 yuan/ton, with a price increase of 0.36%.

This week, the price of industrial grade sodium metabisulfite in the domestic market has increased. The upstream soda ash price of sodium metabisulfite remains stable, sulfur price has increased by 3.1%, and downstream caprolactam price has increased by 2.41%. Influenced by favorable factors from both upstream and downstream, the price of sodium metabisulfite has risen, and downstream shipment speed has accelerated. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturers. For details, please contact each manufacturer for consultation.).
Future forecast
At present, the sodium metabisulfite market is supported by favorable factors, and it is expected that the domestic market price will mainly fluctuate and strengthen in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of formic acid in China has been running at the bottom since June, as of June 16th. The benchmark price for domestic industrial grade 85% formic acid trading is 2450 yuan/ton, a decrease of 2% from the same period last month at 2500 yuan/ton, which is the lowest level of the year.

Supply side:
The formic acid production enterprise has normal power on and sufficient supply on site.
Demand side:
Downstream traditional off-season, terminal enterprises have a strong wait-and-see attitude, low purchasing enthusiasm, and weak demand in downstream building materials and feed industries.
The pesticide market has light inquiries, average trading, and mainly requires replenishment due to urgent transactions.
From the demand side, although the export negotiations between China and the United States have eased, domestic trade orders are relatively weak during the off-season, and foreign trade shipping is hindered. The demand side lacks support for dye prices.
Raw material end:
Raw material methanol is operating strongly. According to the Commodity Market Analysis System of Shengyi Society, from June 9th to 13th (as of 10:00), the average price of methanol in East China ports in the domestic market increased from 2331 yuan/ton to 2480 yuan/ton, with a price increase of 6.39% during the cycle, a month on month increase of 1.07%, and a year-on-year decrease of 3.12%. The domestic methanol market is mainly strong, with production enterprises and port quotations increasing to varying degrees.
The formic acid data analyst of Shengyi Society believes that there is no significant improvement in the demand side of the formic acid market at present, and it is expected that the market price will fluctuate weakly.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic sodium metabisulfite has fallen this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 1876 yuan/ton, and the average price over the weekend was 1860 yuan/ton, with a price drop of 0.89%.

This week, the domestic industrial grade sodium metabisulfite market prices fell, with upstream soda ash prices falling by 0.91% and sulfur prices falling by 2.15%. Affected by the decline in raw material prices, the price of sodium metabisulfite fell under pressure, and downstream transactions fell short of expectations. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturers. For details, please contact each manufacturer for consultation.).
Future forecast
At present, the sodium metabisulfite market lacks favorable support, and it is expected that the domestic market price will mainly fluctuate and weaken in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic sodium metabisulfite has fallen this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 1916 yuan/ton, and the average price over the weekend was 1876 yuan/ton, with a price drop of 2.09%.

This week, the domestic market price of industrial grade sodium metabisulfite has fallen. The upstream soda ash price of sodium metabisulfite has dropped by 4.18%, the sulfur price has dropped by 0.81%, and the downstream caprolactam price has remained stable. Due to the impact of the decline in raw material prices, the price of sodium metabisulfite is under pressure and has fallen. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturers. For details, please contact each manufacturer for consultation.).
Future forecast
At present, the atmosphere in the sodium metabisulfite market is quiet, and it is expected that the domestic market price will mainly fluctuate and weaken in the short term.

According to the market analysis system of Shengyi Society, lithium carbonate has continued to decline recently. As of June 3, the benchmark price of domestic battery grade lithium carbonate in Shengyi Society was 59900 yuan/ton, a decrease of 24% from the beginning of the year; The benchmark price for domestic industrial grade lithium carbonate trading companies is 58933 yuan/ton, a decrease of 22.86% from the beginning of the year.

Lithium carbonate prices decline, lithium mine cost support disappears
Due to the continuous decline in the price of lithium carbonate, the acceptable price of lithium ore has been continuously lowered, and the downward trend in ore prices has also had a strong dragging effect on the price of lithium carbonate. In the future, although some high cost lithium mines have reduced production or even stopped production, with the arrival of the peak season for salt lake production and the increase of low-cost lithium resources, the overall new supply is still relatively large.
The downstream market for lithium carbonate is flat and the demand is not strong
The growth rate of terminal vehicle sales has slowed down, falling short of expectations, leading to weak demand for materials through upward transmission. Except for a few top battery cell factories that have increased production, the overall market demand is flat. Due to external environmental disturbances, although the energy storage battery market has rebounded, in the long run, uncertain factors are increasing.
The lithium carbonate data analyst from Shengyi Society believes that the current supply and demand pattern of lithium carbonate has not yet reversed, and there is pressure from upstream ore to terminal demand. In the short term, it will continue to fluctuate weakly, and specific market changes still need to be monitored.