This week (April 7-10, 2025), the nylon filament market continued to operate weakly, with prices experiencing a slight decline. The upstream raw material Sinopec’s high-end caprolactam was raised to 10450 yuan/ton at the end of last week, but due to the decline in oil prices at the beginning of the week, the PA6 chip high-speed spinning chip market was under pressure and the cost support was insufficient. The operating rate of nylon filament market equipment fluctuates little, the industry supply is at a high level, and some manufacturers have high inventory levels, resulting in average performance on the supply side; The demand in the terminal market has not improved, and there is a certain degree of risk aversion in the downstream market. Multiple parties hold sporadic essential orders, and it is difficult to find positive support from the demand side. Overall, the upstream raw material market is not performing well, downstream enterprises have insufficient procurement efforts, and on-site actual transactions are limited. The market price of nylon filament continues to decline slightly.
According to the Commodity Market Analysis System of Shengyi Society, the price of nylon filament continued to decline slightly this week (April 7-10, 2025). As of April 11, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 15580 yuan/ton, a decrease of 100 yuan/ton from last week, a weekly decrease of 0.64%; Nylon POY (premium product; 86D/24F) is priced at 13100 yuan/ton, a decrease of 225 yuan/ton from last week, with a weekly decline of 1.69%; The price of nylon FDY (premium product: 40D/12F) is reported at 16225 yuan/ton, a decrease of 50 yuan/ton or 0.31% from last week’s price.
Weak raw material support
In terms of cost: Although the weekly closing price of Sinopec’s high-end caprolactam has been raised, it has been affected by the decline in crude oil and pure benzene prices at the beginning of the week. The spot market prices of caprolactam and the high-speed spinning market prices of nylon PA6 slices have continued to decline during the week, with PA6 prices falling by 3.06%, indicating weak support on the cost side.
Supply and demand: This week (April 7-10, 2025), the operating rate of nylon filament market facilities did not fluctuate significantly, the industry supply was at a high level, some manufacturers had high inventory levels, downstream market purchasing willingness was not strong, demand did not improve, and the main consumption of raw material inventory was high. The on-site observation atmosphere was strong, and actual transactions were limited, with insufficient support from the demand side.
Future forecast
Cost aspect: In terms of caprolactam, the price of pure benzene is expected to rise first and then fall. The supply of caprolactam in the market is relatively sufficient, and there is some concern downstream. It is expected that the price of caprolactam in the market will remain stagnant next week. In terms of nylon PA6 chips, the inventory level of polymerization factories is generally average, and downstream markets are cautious in purchasing for essential needs. It is expected that the market trend of nylon PA6 chips will be weak next week, and the price center of the raw material market will shift downwards.
Supply and demand side: The operating rate of the nylon filament industry is at a high level, and there is currently no clear adjustment plan for the production of various manufacturers’ equipment. It is expected that the supply of nylon filament market will still be high in the short term, and end market orders will be difficult to find. Downstream manufacturers have weak purchasing intentions and mostly adopt a buy as you go policy. Therefore, it is expected that the demand side support of the nylon filament market will be weak next week.
Overall, the spot market for raw material caprolactam is expected to consolidate, while the market for nylon PA6 chips may experience a decline due to insufficient cost support. Downstream market demand has not improved, and some nylon filament manufacturers may lower their quotes. Business analysts predict that the nylon filament market will be mainly weak next week, with weak price consolidation.

The price of plasticizer DOP fluctuated and fell in April
According to the Commodity Market Analysis System of Shengyi Society, as of April 9th, the DOP price was 8192.50 yuan/ton, a fluctuating decrease of 1.16% from the April 1st DOP price of 8288.75 yuan/ton. Plasticizer DOP enterprises are operating at a high level, and the supply of plasticizer DOP is sufficient; The price of phthalic anhydride fluctuated and fell, the price of isooctanol fluctuated and fell, the cost of plasticizer DOP decreased, and the support for plasticizer rise weakened, increasing downward pressure.
The price of raw material isooctanol fluctuated and fell in April
According to the Commodity Market Analysis System of Shengyi Society, as of April 9th, the price of isooctanol was 7600 yuan/ton, a fluctuating decrease of 1.94% compared to the price of 7750 yuan/ton on April 1st. The equipment of isooctanol enterprises is operating at a high level, and isooctanol manufacturers have sufficient supply; Plasticizer manufacturers have stable production, but demand for isooctanol has weakened, resulting in fluctuating prices and increased downward pressure on isooctanol.
The price of raw material phthalic anhydride fluctuated and fell in April
According to the Commodity Market Analysis System of Shengyi Society, as of April 9th, the price of phthalic anhydride in neighboring countries was 7383.33 yuan/ton, a fluctuating decrease of 0.67% compared to the price of 7433.33 yuan/ton on April 1st. The equipment operating load of phthalic anhydride manufacturers remains low and stable, coupled with weak downstream demand, the support for phthalic anhydride price increases has weakened, and phthalic anhydride prices have fluctuated and fallen. The cost support of plasticizer raw materials has decreased.
Tariffs raise concerns about worsening downstream demand for plasticizers
Domestic end users have resumed production, but the increase in new orders is slow, and many end users have available raw material inventory, resulting in slow digestion of DOP market supply. In March, the increase in export market eased domestic supply pressure. In April, the US increased tariffs on Chinese goods, causing market concerns. At the same time, the purchasing sentiment of foreign trade enterprises towards the DOP market sharply cooled down. Under the bearish sentiment in the market, domestic trade demand also weakened, and the market buying atmosphere plummeted. Market inventory increased, and downstream demand weakened, resulting in sufficient supply.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol has fluctuated and fallen, the price of phthalic anhydride has fluctuated and fallen, and the cost of plasticizer DOP has decreased; On the demand side, downstream production is slowly recovering, coupled with the impact of US tariffs, the weak demand for plasticizers is intensifying; On the supply side, the expected operating load of DOP enterprises has decreased, and the expected supply of DOP has weakened. In the future, with the decrease in costs and weakened supply, coupled with the worsening weak demand for plasticizers, it is expected that the price of plasticizer DOP will fluctuate and fall in the future.

According to the Commodity Market Analysis System of Shengyi Society, the formic acid market maintained stable operation in early April. As of April 7th, the average price of 85% industrial grade formic acid in China was 3400 yuan/ton, unchanged from April 1st and up 15.25% from 2950 yuan/ton at the beginning of the year.
In recent times, the domestic industrial grade 85% formic acid market has experienced limited fluctuations, with many companies shipping according to market conditions and quoting prices ranging from 3200-3500 yuan/ton. Recently, the sulfur content in the raw material sulfuric acid market has risen from a low point to a high point by 323.5 yuan/ton to 682.5 yuan/ton, an increase of 90.11%. The raw material methanol has fluctuated and stabilized in a narrow range, with neutral cost support. Downstream industries such as pharmaceuticals, rubber, leather, and pesticides have a strong demand for raw material procurement, and market trading is orderly. The focus of negotiations in the formic acid market is generally stable.
The formic acid analyst from Shengyi Society believes that the current cost support still exists, and the supply and demand performance is average. It is expected that the domestic industrial grade formic acid market will stabilize and consolidate in the short term, and more attention should be paid to changes in demand.

According to the Commodity Market Analysis System of Shengyi Society, as of April 3, 2025, the reference price of n-butanol in Shandong Province, China is 6716 yuan/ton. Compared with March 27 (reference price of n-butanol is 6633 yuan/ton), the price has increased by 83 yuan/ton, an increase of 1.26%.
Entering April, this week, the n-butanol market in Shandong, China, experienced a narrow upward trend. During the week, the low-end price of n-butanol in Shandong region increased, and some large factories narrowly raised the shipment price of n-butanol by 50-100 yuan/ton. As of April 3rd, the reference price for n-butanol market in Shandong region is around 6700-6800 yuan/ton.
Analysis of Market Factors
In terms of supply and demand: This week, the devices that were planned to be shut down for maintenance have started to be repaired one after another. The overall supply of n-butanol in the field has been reduced, and the supply side has provided enhanced market support. Downstream users mainly purchase for essential needs, and some users stock up on dips, resulting in an overall improved trading atmosphere. During the week, there was an overall improvement in the transmission between supply and demand.
Market analysis in the future
At present, the market is providing more support for n-butanol than in the previous period, and the mentality of industry players has improved. Overall inquiries have been boosted. The n-butanol data analyst from Business Society believes that in the short term, the domestic n-butanol market will mainly operate in a stable to strong direction, and the specific trend still needs to pay more attention to changes in supply and demand.

The price of ethylene glycol fell in March
The price of ethylene glycol will decrease in March 2025. According to data from Shengyi Society, as of March 31, the average price of domestic oil to ethylene glycol was 4521.67 yuan/ton, a decrease of 3.42% from the average price of 4681.67 yuan/ton on March 1.
On March 31, 2025, the basis of Zhangjiagang ethylene glycol spot contract was relatively high, and the transaction price range for this week’s contract was between 4470-4504 yuan/ton (excluding collective transactions). This week’s spot contract basis quotation is+42 to+46, next week’s spot contract basis quotation is+51 to+53, and April’s spot contract basis quotation is+65 to+67.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) per unit is 4220-4250 yuan/ton.
In terms of external ethylene glycol, as of March 31st, the landed price of ethylene glycol in China is 524-528 US dollars/ton, and the landed price of ethylene glycol in Southeast Asia is 536 US dollars/ton.
Port inventory fluctuated horizontally in March
From January to mid February, there was a significant accumulation of ethylene glycol inventory in the port, and in March, the port inventory fluctuated horizontally. On March 27, 2025, the total inventory of ethylene glycol in the main port of East China was 680000 tons, an increase of 8800 tons compared to the total inventory of 671200 tons on March 3; Compared to December 30, 2024, the total inventory was 397300 tons, an increase of 282700 tons.
The main reasons for the weak downward trend of ethylene glycol in March are as follows:
In March, due to the decline in raw material prices, coal to ethylene glycol production was boosted by profits, resulting in unexpected spring inspections and delayed maintenance of some parts.
The estimated arrival volume at the port in March is around 650000 tons, and the import supply is also relatively sufficient.
Under the high production of downstream polyester, the demand increase is limited, and the terminal expectations are weak, resulting in negative feedback on the expected raw material ethylene glycol.
The main reasons for the expected rebound in ethylene glycol prices in April are as follows:
Recently, international crude oil prices have stopped falling and rebounded, and the drag of cost has slowed down. Coupled with the significant decline in ethylene glycol, the downward space has narrowed.
Starting from April, the planned maintenance volume for spring inspections has increased, and the expected domestic supply of ethylene glycol has weakened.
There is a maintenance plan in April, and it is expected that the production of ethylene glycol from synthetic gas will be around 550000 tons in April.