According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7378 yuan/ton on September 15th and 7395 yuan/ton on September 18th, with a rate of 0.23% last week. LDPE (2426H) had an average price of 9593 yuan/ton on September 15th and 9600 yuan/ton on September 18th, an increase of 0.07%. HDPE (2426H) had an average price of 7957 yuan/ton on September 15th and 7957 yuan/ton on September 18th, with a stable quotation.
Polyethylene prices have been weak this week, with a narrow upward adjustment. The market supply side is relatively sufficient. On the demand side, the agricultural film industry is in the traditional peak season of demand, with greenhouse film production maintaining a high level. The orders for northern plastic film have increased, and factory production is gradually increasing; The construction of other industries is relatively stable, with cautious procurement and a focus on essential purchases. The demand side has limited support for polyethylene. On the cost side, on September 18th, international crude oil futures closed down due to weakened demand after the end of the traditional fuel consumption peak season in the United States, and the continued increase in OPEC+production, which weakened the cost side and suppressed the polyethylene spot market.
Polyethylene supply is sufficient, and there are positive expectations on the demand side; It is expected that polyethylene will mainly operate in a narrow range, and the upward space may be limited.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of September 18th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6700 yuan/ton, which is 0.15% lower than the reference average price of 6710 yuan/ton on September 12th.
2、 Market analysis
Market Aspects
This week, there was a narrow adjustment in the domestic phosphoric acid market prices, resulting in a slight decline in the overall market trend. As of September 18th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6450-6800 yuan/ton, in Yunnan region it is around 6450 yuan/ton, and in Sichuan region it is around 6400-6700 yuan/ton.
In terms of cost
In terms of raw material yellow phosphorus. The market price of raw material yellow phosphorus has fallen this week. At present, the supply of yellow phosphorus in the market is sufficient, the market demand is weakened, and downstream purchases are being made at lower prices. To alleviate inventory pressure, it is expected that the short-term price of yellow phosphorus will be weak and adjusted.
3、 Future forecast
Business Society’s phosphate analyst believes that the phosphate market has been weak recently. The price of raw material yellow phosphorus has been lowered, and cost support has weakened. The market situation of phosphoric acid follows the downward trend of raw materials, and currently the market supply and demand are stable. It is expected that the short-term domestic phosphoric acid market will mainly experience consolidation and operation.

This week, the acrylic market price showed a narrow upward trend. As of September 17, the acrylic benchmark price was 6,416.67 yuan/ton, up 2.67% from the beginning of this month (6,250.00 yuan/ton). This indicates that the market as a whole is in a slow upward channel.
Supply:
Industry capacity utilization rate compared to the previous week (September 4, 72.84% vs. September 11, 74.40%) has improved, but some manufacturers and stockholders are more willing to go ahead and bid on the market, so that the market low price supply decreased.
Demand:
Downstream users are mostly on-demand procurement, the willingness to actively stock is not very strong, mainly digesting contract orders and existing inventory. This game between supply and demand is one of the main reasons for narrow price fluctuations.
Cost side: the price of the main raw material acrylic in Shandong region appeared a slight decline (6530-6570 yuan / ton, a drop of 50-80 yuan / ton). The cost support strength has been weakened, which makes the increase in the price of acrylic acid is limited to a certain extent, and there is no significant increase.
Market sentiment:
The mindset of traders is more positive, and the market is positive, but the market is actually trading (actual transaction) in general, both buyers and sellers are more cautious, with actual negotiations as the main.
Future Outlook
In the near future, it is expected that the domestic acrylic market may continue to operate strongly. It is important to note that the trend of raw material acrylic prices is still an uncertain factor. Follow-up of downstream demand is critical, if demand cannot be sustained, the sustainability of price increases may be limited. It is recommended that operators pay close attention to the device dynamics of major production enterprises and downstream inventory.
Overall, the acrylic market this week has achieved a narrow upward trend with good prices and support from stockholders in the context of weakening cost support and a slight increase in supply. The market shows a shocking pattern of “up resistance, down support”.

The price of ethylene glycol loosened in September. According to data from Shengyi Society, as of September 16th, the average price of domestic oil to ethylene glycol was 4458.33/ton, a decrease of 0.59% from the average price of 4485 yuan/ton on September 1st.
In terms of port ethylene glycol, the spot contract basis for port ethylene glycol on September 16, 2025 is running weakly. The intraday basis trading range for this week’s contract is+84 to+95. As of the close of trading, the contract basis price for this week is+84 to+86, the contract basis price for September is+85 to+87, and the contract basis price for October is+72 to+73. After the close of trading, for this week’s contracts, if the market price is low, buying orders will quote an external basis of+83 to+84. If the market price is high, buying orders will quote an external basis of+78, and buying orders for collective transactions will quote an external basis of+85.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4000-4140 yuan/ton.
In terms of external ethylene glycol, as of September 15th, recent cargo negotiations have resulted in a transaction price of around 516 US dollars per ton.
Fundamental Overview
This week, the total planned arrival volume of ethylene glycol at East China ports is 94000 tons, including 11000 tons at Ningbo port, 42000 tons at Zhangjiagang port, and 41000 tons at Taicang port. Recently, the construction of facilities in the Middle East and Singapore has rebounded, and there is an expectation of a rebound in port ethylene glycol inventory due to the recent resumption of arrivals.
As the holiday approaches, there is a strong demand for pre holiday stocking, and downstream polyester factories have low inventory replenishment needs; However, the expected production of new facilities is suppressing the price of ethylene glycol. From the perspective of overseas markets, Saudi Arabia’s 450000 tons/year facility is in operation, Singapore’s 900000 tons/year facility is shut down, and Iran’s FARSA 400000 tons/year facility has recently restarted.
Future expectations
The rebound of port inventory, coupled with the news of new equipment being put into operation, has suppressed the price of ethylene glycol; Recently, with the boost of pre holiday inventory replenishment demand, the downward space for ethylene glycol prices is expected to narrow.

According to the Commodity Market Analysis System of Shengyi Society, there was little fluctuation in the toluene market from September 8th to September 15th, 2025. On September 8th, the benchmark price of toluene was 5360 yuan/ton, and on September 15th, the benchmark price of toluene was 5360 yuan/ton, unchanged. The domestic toluene market has limited fluctuations in this cycle, with slight differences in markets across different regions. Affected by the price difference of toluene and xylene in Shandong region, downstream purchasing enthusiasm for toluene has increased. The purchasing enthusiasm was good during the week, and the main refinery prices slightly increased during the week. The trend of the East China market is relatively stable, and the enthusiasm for downstream market entry is weak. The South China market lacks clear information guidance and the market volatility is not significant. Overall, the toluene market has experienced limited volatility this week.
Cost wise: According to the Commodity Market Analysis System of Shengyi Society, as of September 12th, international crude oil futures closed higher, and the settlement price of the October WTI crude oil futures contract in the United States was $62.69 per barrel. The settlement price of Brent crude oil futures for November is $66.99 per barrel.
Supply side:
Sinopec’s toluene enterprise is operating normally, with stable production of equipment and many products for personal use, resulting in stable production and sales. As of September 15th, East China Company quoted 5350 yuan/ton, North China Company quoted 5300 yuan/ton, South China Company quoted 5300-5400 yuan/ton, and Central China Company quoted 5450 yuan/ton.
Demand side:
On September 15th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7200 yuan/ton. This price is implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units are operating stably and sales are normal. As of September 4th, the closing prices of the para xylene market in Asia were $807-809/ton FOB Korea and $832-834/ton CFR China.
Market forecast: The recent fluctuations in the crude oil market are relatively small, with limited impact on the spot market, and the macro outlook is relatively stable. From the perspective of supply and demand, some regions have performed well in the oil transfer market recently, providing some market support. However, overall, downstream demand is generally average, and it is expected that the market trend will be stable with limited fluctuations in the near future.