1、 Market Overview: The price center of gravity has shifted downwards, with a significant decline
On June 9, 2026, the benchmark price of acrylic acid was 8350.00 yuan/ton. Compared with 8650.00 yuan/ton at the beginning of the month (June 1st), the cumulative price has decreased by 3.47% since the beginning of this month. From a long-term trend perspective, the acrylic acid market has experienced a significant downward trend since mid March. Although there was a brief stabilization from late April to early May, the price once again bottomed out after entering June and is currently in the low range of nearly three months.
Fundamental analysis: Cost support collapses, supply and demand game intensifies
1. Raw material end:
The main driving force for the weakening of the acrylic acid market this week comes from the collapse of the cost side. The continuous decline in upstream raw material propylene prices has led to a shift in the production cost center of acrylic acid. The cost line, which was originally used as a support, has become a negative factor dragging down prices. Manufacturers’ willingness to raise prices has weakened, and in order to recoup funds or seize market share, they have to follow the raw materials and lower their ex factory prices.
2. Supply and demand side:
On the supply side: Although some devices may face maintenance or load adjustments, overall supply pressure still exists in the context of profit compression.
In terms of demand, the downstream acrylic ester and related derivative industries have shown a lackluster performance, with low acceptance of high priced sources and a tendency to adopt rigid procurement strategies. This mentality of ‘buying up, not buying down’ has exacerbated the sluggish atmosphere in the market.
Under the pressure of high cost reduction and weak demand, the result of the game between supply and demand is that the price center of gravity continues to shift downwards, and the market mainly operates in a volatile and weak manner.
Future outlook:
Overall, the acrylic acid market lacks a strong positive boost in the short term.
It is expected that the market will continue to maintain a weak and volatile pattern next week. If the raw material propylene cannot stop falling and stabilize, there is still a risk of further exploration of the price of acrylic acid to find a new equilibrium point. It is necessary to closely monitor whether the 10 day moving average can level and turn upwards, as this is a key signal for short-term stabilization.
Summary: This week, the acrylic acid market continued to decline under the guidance of cost bearish sentiment. Technical indicators show that bearish forces are dominant, and it is difficult to reverse in the short term. The market is waiting for confirmation of bottom signals.

At the beginning of June, 85% of the domestic formic acid market showed a sustained weakness and a downward trend, with prices fluctuating and falling overall. As of June 8th, the benchmark price of formic acid in Shengyi Society was 2400 yuan/ton, which remained unchanged on a month on month basis and decreased by 2% year-on-year. The formic acid market in early June can be divided into three clear stages, with the overall decline gradually increasing and worsening.
The first stage is the first round of correction on June 1st, when the mainstream average price of 85% formic acid was reported at 2550 yuan/ton, a decrease of 2% from the previous day, opening a weak market for this week. The core cause of this round of decline is the concentration of production enterprises offering discounts and adjusting prices in the early stage, which has driven the overall market quotation downward. At the same time, the terminal demand side continues to be weak, and downstream enterprises are affected by the expected price decline, leading to a cautious purchasing attitude and weak market demand transactions, setting the tone for the weak market trend throughout the week.
The second stage is the sideways oscillation and dark decline accumulation phase from June 3rd to June 5th. On June 2nd, the formic acid market price remained unchanged from the previous trading day, at 2550 yuan/ton, which was a short-term consolidation and repair after a sharp decline in the previous period. There was no signal of market recovery, and the weak demand pattern did not improve. Downstream purchasing confidence was insufficient, and overall transaction volume continued to decline. On June 3rd, the market broke through the level again and fell downwards, with the mainstream average price falling to 2500 yuan/ton, a daily decline of 2%. The market further weakened, and manufacturers in the industry began to engage in covert competition to seize orders. The market pricing model began to change, generally implementing a case by case, single pricing model. From June 4th to 5th, the mainstream average price of formic acid remained stable at 2500 yuan/ton for two consecutive trading days. The market price seemed stable, but the actual transaction end of the market continued to weaken, with undercurrents surging. The competition among manufacturers in the industry has intensified, and most manufacturers have introduced low price preferential policies of varying degrees in order to compete for limited market orders. The widespread adoption of a flexible pricing model based on single negotiation has directly led to chaotic market transaction prices and obvious range differentiation. The surface level stable quotations cannot reflect the real weak market situation, and the overall trading atmosphere in the market continues to be sluggish.
The third stage is the deep decline phase on June 8th, which further intensified the weak market situation. On that day, the mainstream average price of 85% formic acid fell sharply to 2400 yuan/ton, a decrease of 4% from the previous working day, setting a record for the largest single day decline of the week. At this stage, the contradiction between supply and demand in the market has completely intensified, with weak support for terminal demand and high pressure on production and shipment. Major manufacturers continue to increase their profit margins, and market transaction prices have become increasingly differentiated. The overall price dispersion characteristics are prominent, and the phenomenon of low prices and high volume in the industry has become normalized.
Future price forecast:
At present, the short-term moving average of formic acid is above the long-term moving average, indicating a downward trend in price.
The price position is at a low level, with limited room for decline.
Based on the core logic of the market, the current supply and demand of formic acid are weak, and the situation is difficult to change. It is expected to fluctuate downward in the short term, and specific changes in market supply and demand still need to be monitored.

This week, the domestic fluorite price trend has slightly declined. As of the weekend, the average domestic fluorite price was 3396.25 yuan/ton, a decrease of 0.66% from the beginning of the week price of 3418.75 yuan/ton and a year-on-year decrease of 0.48%.
Supply side: Double pressure formed by accelerated resumption of production and increased import volume
1. Domestic mines and beneficiation plants accelerate resumption of work and production
With the warming of temperatures in northern production areas, the operating load of core production areas is gradually increasing. The safety and environmental protection inspections in major production areas such as Zhejiang and Inner Mongolia have slowed down, and the operating rate has increased, directly increasing the supply of spot goods. Although some resumption of work was delayed in the first quarter due to stricter safety supervision, it has basically returned to normal by mid to late April. In addition, the newly discovered fluorite mines in Sichuan, Gansu and other places have further strengthened the expectation of loose supply in the medium and long term. As a result, the domestic fluorite spot supply is sufficient, and the fluorite market has slightly declined.
2. Normalization of industry regulation makes it difficult to add new mines
As a national strategic scarce mineral, fluorite has been continuously upgraded in safety and environmental control in recent years, with increased efforts to control the total amount of mining and accelerated elimination of backward small and medium-sized mines, leading to a continuous increase in industry concentration. The approval process for new mines is strict, and mineral exploration is difficult. The effective production capacity growth of domestic fluorite is weak, and high-grade raw ore is becoming increasingly scarce. At the same time, the normalization of mining rectification and production restrictions measures has further compressed the market circulation of goods and suppressed the decline of fluorite raw materials.
3. The import source continues to increase in volume, and the price advantage is significant
The domestic dependence on foreign fluorite has exceeded 30%. After the end of the rainy season in Mongolia, the arrival volume in April and May increased significantly by about 40% month on month, and the import price was about 300-500 yuan/ton lower than that of domestic products. In addition, low arsenic fluorite (≤ 0.0005%) enjoys a zero tariff policy, effectively reducing import costs. The concentrated arrival of Mongolian fluorite at ports in East and North China has had a sustained suppressive effect on domestic market prices.
Demand side: Low core downstream operating rate, difficult to boost prices due to rigid demand
1. The hydrofluoric acid industry is suffering serious losses, and procurement is passively shrinking
The operating rate of hydrofluoric acid enterprises is only about 50%, and most of them suffer serious losses. They mainly purchase for essential needs and have a strong willingness to lower the price of upstream fluorite, basically maintaining only essential needs procurement. In addition, the mainstream contract price in June fell to 14500-15000 yuan/ton, but the demand follow-up was clearly insufficient, and there were signs of capacity utilization shrinking, resulting in a slight decline in the domestic fluorite price trend.
2. The refrigerant operating rate is difficult to exceed 50% due to quota restrictions
Affected by the refrigerant quota system and the relatively flat demand in the home appliance market, the operating rate of core refrigerants such as R22 and R32 is difficult to exceed 50%, which indirectly weakens the demand support for fluorite. Downstream hydrogen fluoride enterprises tend to be cautious in their procurement, adopting a strategy of on-demand replenishment and batch replenishment, only making phased purchases, and suppressing the domestic fluorite market price.
Market forecast: Due to the warming weather in northern production areas and the accelerated resumption of mining production, some manufacturers in the domestic fluorite market have high inventory; The trend is that the operating rate of downstream fluorine chemical industry has not changed much, and downstream continues to observe, buying up instead of buying down to strengthen the downward trend. It is expected that the price of fluorite may slightly decrease, but the cost inversion is obvious, and the decline of fluorite is limited.

1、 Price trend
The price of soda ash fell in May, with an average market price of 1222 yuan/ton for light soda ash at the beginning of the month and around 1196 yuan/ton at the end of the month. The price dropped by 26 yuan/ton during the month, a decrease of 2.13%.
2、 Market analysis
According to data from Shengyi Society’s spot trading channel, the soda ash market experienced a weak downward trend in May. On the supply side, although the maintenance of soda ash plants was concentrated in May and the operating rate significantly declined, low-cost natural alkali production capacity such as Far Eastern Energy’s Alxa continued to be released, offsetting the reduction in maintenance supply. The total market output is still at a historical high, and supply pressure still exists; In terms of demand, the glass industry has multiple production lines undergoing cold repairs or shutdowns, with enterprises mainly consuming inventory and limited procurement of soda ash. The basic situation of soda ash shows a strong supply and weak demand pattern, which suppresses the price and causes the soda ash market to operate at a low level during the month.
As of May 31, 2026, the mainstream market price of light soda ash in East China is around 1100-1560 yuan/ton, a decrease of 50 yuan/ton compared to the previous period; The mainstream price of light soda ash in Central China is around 1050-1200 yuan/ton, a decrease of 10 yuan/ton compared to the previous period; The mainstream price of light soda ash in North China is around 1220-1300 yuan/ton, which remained stable compared to the previous month.
On the demand side: According to the commodity analysis system of Shengyi Society, glass prices have increased narrowly this month, with the average glass market price rising from 13.15 yuan/square meter to 13.25 yuan/square meter, an overall increase of 0.76%. The operating rate of the glass industry was relatively low during the month, and multiple production lines were undergoing cold repairs. Enterprises mainly raised prices, but the overall market inventory was high, and the supply performance remained loose. In addition, downstream demand was weak, and market trading was light. Under the situation of high supply and low demand, the increase in glass prices was limited, and the market fluctuated throughout the month.
Market forecast: Currently, the spot price of soda ash is mainly weak and stable, and some maintenance equipment will be restored in the later stage. The operating rate will increase, and market inventory pressure will continue to increase. Downstream glass industry consumption is slow, and the operating rate is low, which will not provide sufficient support for soda ash. In the short term, the pattern of strong supply and weak demand in the soda ash market is difficult to improve. It is expected that the soda ash market will continue to be weakly consolidated in the future, and specific attention will be paid to the market inventory consumption situation.

price trend
In May, the domestic PC market experienced narrow fluctuations, with spot prices of various brands fluctuating. As of May 31st, the mixed benchmark price of Business Society PC was around 16166.67 yuan/ton, a decrease of 1.02% from the beginning of the month.
Root cause analysis
On the supply side: During May, the operating rate of domestic PC aggregation enterprises decreased at a low level. The enterprise maintenance plan has been gradually implemented, and the industry load has dropped to around 63%, reaching a new low for the year. The loss of production continues to expand, with an average weekly output of less than 55000 tons. The shipment of polymerization plants is basically without pressure, and the willingness to raise prices is strong. Overall, the supply side’s support for PC continues to strengthen.
In terms of raw materials: As can be seen from the above chart, the domestic bisphenol A market first fluctuated and then declined in May. International crude oil experienced severe fluctuations, rebounding and then plummeting. Negative sentiment is transmitted downwards to acetone and phenol, causing varying degrees of decline in the market due to their drag. On the other hand, the supply of bisphenol A has limited changes while demand remains weak, and merchants are actively shipping, with a tendency to sell at discounted prices. The price trend within the range first stabilized and then fell, and the overall support for PC cost value weakened.
On the demand side: The sales situation of PC downstream factories is gradually entering the off-season, and the demand for sheet metal shells is weakening, resulting in low load levels for end enterprises. The current PC price remains high, and buyers are cautious in stocking up. The willingness to build a warehouse is poor, and the market is in a wait-and-see atmosphere. The liquidity of the source of goods is relatively slow, and the mentality of merchants is not strong. They offer according to the market, and there is an increase in profit sharing and order taking operations. The low-priced source of goods in the market needs to be digested, which creates a drag on the pricing focus of the aggregation factory. Overall, the demand side has poor support for PC spot prices.
Future forecast
The domestic PC market remained stable in May. The price of upstream bisphenol A weakened at the end of the month, and the cost value weakened its support for PC. Low load of domestic PC aggregation plants. On site trading is mainly based on weak demand, and buyers have a cautious mentality, taking whatever they need. Trading is mostly small orders. At present, the supply and demand of PC are weak, and the market orientation is unclear. It is expected that the consolidation market will continue in the short term.