Last week (May 12-18, 2025), adhesive short fiber manufacturers mainly executed preliminary contracts, and the adhesive short fiber market was consolidating and operating, with prices remaining stable. The upstream raw material market is not performing well, while the downstream market is holding onto rigid demand procurement in multiple dimensions. The support from both the cost and demand sides is weak, and the release of newly signed orders in the market is limited. Operators mainly execute preliminary contracts, and the market price of adhesive short fibers is stable and organized.
According to the Commodity Market Analysis System of Shengyi Society, as of May 18th, the average market price of viscose staple fiber was 13360 yuan/ton, which was the same as the previous week’s price.
In terms of cost: Last week (May 12-18, 2025), there was little change in the market price of raw material dissolution slurry, a slight rebound in the market price of auxiliary material liquid alkali, a continuous decline in the market price of sulfuric acid, a narrow decline in the market price of raw materials, and a slight decrease in the average production cost of adhesive short fibers.
Supply demand: During the week, some adhesive short fiber manufacturers have increased their operating rates, resulting in an increase in industry supply. The tourist cotton yarn market has a strong atmosphere of observation and price stalemate. Insufficient orders have been placed in the terminal market, and downstream yarn companies still have a certain amount of raw material inventory. Coupled with high finished product inventory, a small number of orders have been signed on demand, and there has been no improvement in demand. As of May 18th, the price of 30S cotton yarn spun by ring spinning in Jiangsu region is around 17375 yuan/ton.
Future forecast
On the raw material side, the main material dissolution slurry market may operate weakly and steadily, the auxiliary material liquid alkali market may have an upward trend, and the sulfuric acid market or the overall market remains stable. Therefore, it is expected that the market price trend of adhesive short fiber raw materials will be inconsistent next week, and the cost support will be average.
Supply and demand side: The operating rate of the adhesive short fiber market equipment may not fluctuate significantly, and some manufacturers have high inventory levels. Therefore, it is expected that the supply side support of the adhesive short fiber market will be poor in the short term; Downstream yarn factories mainly consume raw material inventory and have a weak willingness to replenish raw materials. They may maintain rigid procurement, making it difficult for the demand side to improve. Therefore, it is expected that the demand side of the adhesive short fiber market will perform poorly next week.
Overall, the main raw material dissolution slurry market may experience weak consolidation, and downstream yarn market procurement enthusiasm is difficult to improve. The expected trading atmosphere in the market is flat. Business analysts predict that the domestic adhesive short fiber market will remain stable with small movements next week, and the price is expected to be around 13000-13300 yuan/ton for acceptance.

1、 Price trend
According to the monitoring of the commodity market analysis system of Shengyi Society, the PVC spot market reversed its decline this week (5.12-16), and prices rebounded significantly. As of Friday, the average price of SG-5 PVC carbide method in China was 4782 yuan/ton, an increase of 3.87% during the week.
2、 Market analysis
Supply side: The PVC spot market atmosphere improved this week, reversing the downward trend since May. On the one hand, driven by the futures market, the spot market has significantly improved and prices have rebounded. On the other hand, the market performance has improved in terms of supply and demand. This week, the PVC production rate remained stable, and there was no significant increase in supply. The production rate remained at a balanced level, but market transactions have significantly improved. This is mainly based on the increase in trading volume and the improvement of market sentiment.
In terms of inventory, there has been a temporary increase in transaction volume in the market recently, and social inventory continues to decrease. However, considering the previously large basic inventory, the current spot supply side remains abundant.
Cost side: The price of calcium carbide in the market has not changed much this week, with a slight decline. According to the commodity analysis system of Shengyi Society, the price of calcium carbide has slightly decreased by 0.62% this week. The main reason for the high price decline is limited cost support, and the upward trend of PVC prices in this round is mainly driven by supply and demand. Although there is no positive news on the cost side, the increase in downstream procurement volume has a certain stimulating effect, and the upstream and downstream linkage has led to a rebound trend in PVC prices.
3、 Future forecast
The PVC analyst from Shengyi Society believes that the supply and demand of PVC will remain stable in the short term, and the operating rate of manufacturers is expected to remain stable in the middle and late stages. Although the inventory of enterprises continues to decrease, the process is slow. The rebound of short-term futures market is mainly due to the improvement of market sentiment, and the lack of sustained improvement momentum in PVC fundamentals in the later stage. As downstream procurement returns to rationality, the positive support effect is not significant. We should be cautious about the magnitude of the increase.

According to the Commodity Market Analysis System of Shengyi Society, in mid May, favorable factors hit, and the domestic adipic acid market rebounded, with a two-day increase of over 2%. Due to the significant decline in the previous period, the overall increase was close to 1%. On May 9th, the average market price of adipic acid was 7166 yuan/ton. On May 15th, the average market price of adipic acid in China was 7233 yuan/ton, an increase of 0.93%.
Cost support: Domestic adipic acid market continues to rise
In mid May, the prices of pure benzene and cyclohexanone raw materials for adipic acid rose one after another, leading to improved demand in the end plastic industry and continuous price increases for adipic acid manufacturers. The domestic adipic acid market has seen an improvement in transactions and a rebound in the market. As of May 15th, the average market price of adipic acid has fallen to 7100-7400 yuan/ton, with an overall increase of 100-200 yuan/ton.
An analyst from Shengyi Society believes that by the end of May, with the support of rigid demand in the terminal industry and an upward trend in raw material prices, the market for adipic acid will continue to fluctuate and rise in the future.

According to the commodity analysis system of Shengyi Society, the hydrogen peroxide market has steadily risen since mid April. On April 15th, the average market price of hydrogen peroxide was 683 yuan/ton, and on May 14th, the average market price of hydrogen peroxide was 700 yuan/ton, with a price increase of 2.44%.
Supply tightens, hydrogen peroxide market rises
Since mid April, there has been an increase in terminal demand in the printing and papermaking industries, with some hydrogen peroxide manufacturers shutting down for maintenance and supply tightening. This has been supported by positive factors, and hydrogen peroxide prices have gradually improved, mainly oscillating upwards. After the May Day holiday, the average price of hydrogen peroxide in the domestic market rose to around 700 yuan/ton, with a price increase of around 50 yuan/ton. As of mid month, the hydrogen peroxide market has gradually stabilized, with improved market transactions and a slight overall upward trend.
Business Society’s hydrogen peroxide analyst believes that at the end of May, the demand for terminal printing and papermaking industry increased, and the pressure on hydrogen peroxide supply was average. The market will continue to rise in the future.

price trend
According to the bulk ranking data of Shengyi Society, after the May Day holiday, the domestic PC market has fallen from a low level, and the spot prices of most brands have been weak. As of May 13th, the mixed benchmark price of Business Society PC is around 15200 yuan/ton, with a price fluctuation of -1.83% compared to early May.
cause analysis
On the supply side: As we enter May, domestic PC aggregation enterprises will experience high and stable loads with small fluctuations. The current industry average operating level is still fluctuating around 83% compared to the beginning of the month. During this period, the weekly average production remained above 60000 tons, still at a super high level, and the on-site supply was very abundant. Manufacturers and midstream inventory are high, and shipping pressure continues to be significant, with weak market supply side support for PC prices.
In terms of raw materials, it can be seen from the above chart that the price of bisphenol A fell from a high level in May. Low price replenishment at the end of April in the early stage boosted market momentum. At the same time, some regions are experiencing tight supply, supporting the upward trend of spot prices. However, downstream enterprises have inventory waiting to be digested after the holiday, and on-site trading is sluggish. In terms of raw materials, acetone and phenol are consolidating at a low level, which lacks sufficient support for spot goods. The positive transmission of oil recovery in the remote upstream still needs time. Overall, the support of raw materials for PC costs has weakened compared to before the holiday.
In terms of demand, PC consumption in May continued the weak rigid demand pattern, 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. Against the backdrop of contract delivery and shrinking new order procurement after the holiday season, merchants tend to be cautious and cautious. Buyers are resistant to high priced goods, and the circulation speed of on-site goods is returning slowly. Overall, the demand side has weak support for PC spot prices.
Future forecast
Since May, the domestic PC market has been running at a low level with some decline. The upstream bisphenol A market is in a downward trend, which provides poor support for the cost side of PC. The load of domestic PC aggregation plants is generally stable, and the pattern of strong supply remains unchanged. At present, downstream demand follows the logic of weak rigid demand, and the impact of the cancellation of US tariff policies and the rebound of crude oil has not yet been fully transmitted. Industry players remain cautious about the future market. At the same time, the industry’s inventory is high, and the seller camp is reducing prices and increasing their sales operations. Overall, the pressure on PC production and sales remains, and it is expected that the weak PC market will continue to have some inertia in the short term. It is recommended to closely monitor news related to the foreign trade environment.