According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 6905 yuan/ton on December 1st, and 6375 yuan/ton on December 26th, a decrease of 7.68%. LDPE (2426H) had an average price of 9000 yuan/ton on December 1st and 8466 yuan/ton on December 26th, a decrease of 5.93%. The average price of HDPE (2426H) on December 1st was 7387 yuan/ton, and on December 26th it was 6800 yuan/ton, a decrease of 7.95%.
Polyethylene remained weak and difficult to change in December, with the price center continuously shifting downwards. On the supply side, new production capacity continues to be released, and new facilities such as Guangxi Petrochemical have been put into operation to release production; Partial devices have completed maintenance and restarted, resulting in an increase in supply pressure. On the demand side, the demand side has entered the traditional off-season, and the demand for greenhouse film is gradually coming to an end. The demand for plastic film remains sluggish, the demand for packaging film is flat, the operating rate of the pipe industry is declining, downstream demand is weak, and the growth of new orders is sluggish. The market mentality is bearish, and as the end of the month approaches, manufacturers and traders are more willing to ship, mainly focusing on active pre-sales and maintaining a low inventory mentality, and generally offering discounts to accelerate inventory reduction. Insufficient cost support, although crude oil prices rebounded at the end of the month due to geopolitical uncertainty, the cost side has limited boosting effect on polyethylene. Due to weak supply and demand, the contradiction between supply and demand is difficult to alleviate, and it is expected that polyethylene will mainly operate weakly.

1、 Price trend
According to the monitoring of the commodity market analysis system of Shengyi Society, the PVC spot market stopped falling and rebounded this week (12.22-26), with a significant increase this week. As of Friday, the average price of SG-5 PVC carbide method in China was 4450 yuan/ton, an increase of 1.95% during the week.
2、 Market analysis
Supply side: The atmosphere of speculation in the PVC spot market has gradually strengthened this week, and the spot market has rebounded this week driven by the futures market. The market performance has improved in terms of supply and demand, and the PVC operating rate has slightly decreased this week, with some enterprises operating at rates below 50%. In addition, this is mainly based on the increase in trading volume and the improvement of market sentiment.
In terms of inventory, the market has maintained a high trading volume recently, and social inventory continues to decrease. However, considering the previously large basic inventory, the current spot supply side remains abundant.
On the cost side: Although the market price of calcium carbide has slightly decreased this week, the market is still in an upward trend, and calcium carbide is still at a high level in the stage. According to the monitoring of Business Society, as we enter December, calcium carbide still shows an upward trend, with a growth rate of 2.29%. The increase in downstream procurement volume has a certain stimulating effect, and PVC prices have rebounded.
3、 Future forecast
The PVC analyst from Shengyi Society believes that there is sufficient PVC supply in the short term, and there is room for improvement in the operating rate of manufacturers in the later stage. The inventory of enterprises is still generally high, and it needs to be continuously reduced in the later stage. 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. 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 analysis system of Shengyi Society, the domestic maleic anhydride market continued to decline in December. As of December 24th, the average market price of n-butane oxidation maleic anhydride remained at 5112.50 yuan/ton, a decrease of 2.85% from 5262.50 yuan/ton on December 1st.
In terms of supply, the maleic anhydride market continued to decline in December: The Wanhua auction price market continued to fall in December, with poor transaction conditions and limited support for the maleic anhydride market. The prices of the main maleic anhydride factories continued to fall, and coupled with downstream digestion of early raw material orders, new order signing was limited. As of December 24th, the factory price of solid anhydride in the maleic anhydride market in Shandong is around 4850 yuan/ton, while the factory price of liquid anhydride is around 4500 yuan/ton.
Upstream: In December, the n-butane market fluctuated and rose, mainly affected by the increase in CP prices in Saudi Arabia. As of December 24th, the price in Shandong was around 4670 yuan/ton.
Downstream: Currently, the unsaturated resin market is mainly consolidating weakly, with prices of styrene and maleic anhydride on the raw material side falling, and limited support on the cost side; Downstream procurement maintains essential demand and has limited support for unsaturated resin.
The analyst of Shengyi Society’s maleic anhydride products believes that currently, the main downstream unsaturated resin for maleic anhydride is in urgent need of procurement; At present, the price of liquid anhydride has fallen to the lowest point of the year, and some manufacturers have limited shipments. In addition, the current supply has decreased, and it is expected that the maleic anhydride market may have an upward trend in the near future.

According to the Commodity Market Analysis System of Shengyi Society, as of December 24th, the average market price of acetic acid was 2720 yuan/ton, an increase of 60 yuan/ton or 2.26% compared to the price of 2660 yuan/ton on December 17th.
Recently (12.17-12.24), the domestic acetic acid market has risen again. On the supply side, the recovery of maintenance equipment is slow, the operating rate of acetic acid is not high, factory inventory is low, and the price of acetic acid remains high and firm. Downstream inquiries have increased, and the market sentiment is optimistic. Some companies’ inventory has decreased, and the price of acetic acid continues to rise.
Recently, the price of raw material methanol has fluctuated strongly. As of the 24th, the average price in the domestic market was 2160 yuan/ton, an increase of 1.60% compared to the price of 2126 yuan/ton on December 17th. The tight circulation in the port market has supported a strong rise in spot prices. At the same time, the domestic methanol market is supported by winter freight rates, and enterprise quotations have shown strong performance. Downstream market entry follows demand, and the methanol market is fluctuating.
The downstream acetic anhydride market is relatively strong and rising. From December 17th to 24th, the average ex factory price of acetic anhydride was reduced from 4170 yuan/ton to 4162.50 yuan/ton, a decrease of 0.18%. The upstream acetic acid market is strong, and the cost of acetic anhydride continues to increase. There is no significant fluctuation in downstream demand, and enterprise shipments are weak. The market mentality is deadlocked, and the price of acetic anhydride has slightly decreased during the cycle.
In terms of future market forecast, the acetic acid analyst from Shengyi Society believes that there are many domestic acetic acid plants undergoing maintenance, and the market supply pressure is not high. Downstream demand is stable, and enterprise shipments are good. The fundamentals continue to be favorable, and it is expected that the acetic acid market will continue to operate strongly in the later stage. The market supply situation will be closely monitored in the future.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of bromine has increased. On December 23rd, the average market price was 35400 yuan/ton, an increase of 61.64% compared to the same period last year. On December 22, the Business Society Bromine Index was 122.60, up 0.85 points from yesterday, down 50.00% from the highest point of 245.18 points during the cycle (2021-10-27), and up 108.08% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to the period from September 1, 2011 to present)
2、 Market analysis
This week, the price of bromine in Shandong region remained firm. The reference ex factory price for spot goods in Shandong region is around 35000-37000 yuan/ton, and the current mainstream transaction price is around 35500 yuan/ton. Supply side: The price of bromine is greatly affected by seasonal temperatures, and the overall operating rate of the industry has been insufficient since entering winter, resulting in a continued low supply rate in the industry. In addition, the production of bromine is also relatively low due to industry policies. On the demand side: However, the downstream industry demand is generally average, so we will continue with the procurement of essential needs. Downstream enterprises have average purchasing enthusiasm.
In terms of raw materials, the overall price of domestic sulfur has remained firm, with an average market price of 3627.67 yuan/ton on December 23, an increase of 111.67% compared to the same period last year. Downstream demand is still acceptable.
Prediction: Bromine prices are expected to remain strong in the near future, while upstream sulfur prices are expected to be relatively strong. Bromine supply is tight in the near future, but downstream buyers tend to purchase on demand, which may lead to resistance to bromine price increases. The overall supply-demand game predicts that there may still be some room for bromine prices to rise in the later stage, depending on downstream market demand.