This week, the domestic acrylic acid market continued its downward trend, with the price center continuously shifting downwards. According to data from Shengyi Society, the benchmark price of acrylic acid on May 7th was 9916.67 yuan/ton, a decrease of 2.3% from the beginning of the month (10150 yuan/ton). Under the dual effects of supply and demand game and cost transmission, the market has a significant downward trend, with strong downstream wait-and-see sentiment and overall weak trading.
1、 This week’s core market performance
From the perspective of price trends, the acrylic acid market continued its downward trend this week, with prices falling below the 10000 yuan mark. The daily decline during the week reached 2.3%, and it has fallen more than 3000 yuan/ton from the previous high of 13116.67 yuan/ton. The market as a whole presents a pattern of “upstream concessions and downstream wait-and-see”, with production enterprises gradually showing pressure on shipment, and quotations continuing to decline with market sentiment. However, downstream buyers generally adopt a wait-and-see attitude, with rigid demand procurement as the main focus, insufficient follow-up on large orders, and a weak market trading atmosphere.
From the perspective of the cyclical price position, the current price of acrylic acid is in the low range of the past 10 days, 20 days, and 30 days. The 60 day position is at a medium low level, and the 90 day and one-year dimensions are at a medium level. The signals of “10 day oversold, 20 day oversold, and 30 day oversold” in the early stage have gradually eased, and the short-term price has entered a stage low area, but there is no clear signal of stopping the decline and stabilizing.
2、 Factors causing price decline
1. Supply side:
Previously, the price of acrylic acid soared to over 13000 yuan/ton, significantly restoring the industry’s profit margin. The enthusiasm of enterprises to start production has increased, and the overall market supply of goods is in an abundant state. As prices fall, the selling pressure of high inventory in the early stage gradually becomes apparent. Some companies actively lower their quotations to alleviate shipping pressure, further driving the market price center downward and forming a cycle of “price decline inventory pressure further price reduction”.
2. Demand side:
Acrylic acid is mainly used downstream in acrylic esters SAP、 In the field of high water absorbent resin, downstream enterprises have shown weak overall purchasing willingness this week, with no significant improvement in terminal demand. There is a strong resistance to high priced raw materials, and the procurement rhythm is mainly based on on-demand procurement, lacking large-scale stocking actions. Especially in the acrylic acid industry, its own profits are also affected by weak demand from downstream industries such as coatings and adhesives, which limits the increase in operating rates and makes it difficult to effectively support the procurement demand for acrylic acid. The market’s wait-and-see atmosphere continues to be strong.
3. Cost side:
Although there have been periodic fluctuations in upstream propylene prices, the overall cost support for acrylic acid has significantly weakened. With the rapid decline of acrylic acid prices, the upward logic driven by previous costs has been broken, and the market mentality has shifted from bullish to cautiously bearish.
3、 Market Forecast Based on the Business Society Spot Communication System
Based on the technical signals from the Business Society Spot Market Analysis System, the current downward trend in the acrylic acid market has not been completely reversed, and may continue to fluctuate weakly in the short term. In the medium term, attention should be paid to the opportunities for stabilization brought about by changes in the supply and demand margin.

Recently, the domestic formic acid market has shown a trend of “rapid bottoming out first, followed by sustained sideways”. As of May 7th, the benchmark price of 85% industrial grade formic acid in China was 2400 yuan/ton, a decrease of 20% month on month and 20.88% year-on-year.

April 27th is the key point for the current round of formic acid price decline, and the market has experienced a significant drop in prices. On that day, the mainstream transaction average price of formic acid with 85% content in China fell to 2400 yuan/ton, a significant decrease of 7.69% from the previous working day, and the price once again broke the recent low. This round of price decline is not a sudden market trend. During the weekend, some formic acid manufacturers have taken the lead in opening a low-priced shipping mode, actively offering discounts to clear inventory, which has directly become the main reason for the market price decline. The weakness on the demand side further amplified the downward pressure. At that time, the downstream terminal market had a strong wait-and-see attitude, and most buyers predicted that there was still room for a downward trend in market prices. The willingness to actively stock up was weak, with only a small amount of essential replenishment. The overall market transactions were light, and the supply-demand imbalance pushed the price of methyl acid to quickly bottom out. After the price hit bottom, the formic acid market quickly stopped falling and stabilized, and began a continuous sideways consolidation mode from April 28th.

After the end of the May Day holiday, there was no significant change in the domestic formic acid market on May 6th, and the horizontal stability pattern continued. The mainstream transaction average price of 85% formic acid remained stable at 2400 yuan/ton. The market supply and demand structure remained basically stable before and after the holiday, with no positive news such as production cuts or shortages on the supply side, and the supply of goods remained sufficient and stable. There has been a slight positive change in inventory levels, driven by the concentrated shipment of low-priced orders before the holiday, and some production enterprises have experienced a slight decline in inventory during the holiday period compared to the previous period, which has slightly eased the inventory pressure in the industry. However, there has been no substantial rebound on the demand side, and downstream terminals are still dominated by rigid procurement. The overall trading pace in the market is slow, lacking significant upward momentum.
In the future, the trend of formic acid market will highly rely on the recovery of downstream demand. If the operating rate of the terminal industry increases in the future and the demand for concentrated replenishment is released, it is expected to drive market trading to recover and promote price stabilization and recovery; If demand continues to be weak, the market may continue the weak pattern of “stable pricing and actual profit sharing”. Specific attention still needs to be paid to changes in market supply and demand.

1、 Price trend
According to data monitored by Business Society, as of April 29th, the average price of domestic industrial grade high-quality cyclohexane was 7516 yuan/ton. This week, the market price of cyclohexane showed a fluctuating downward trend. At the beginning of the week, the market average price was in a relatively stable range, but with changes in market supply and demand, the price gradually decreased. As of the weekend, the mainstream market price of cyclohexane has fallen by about 200-300 yuan/ton compared to the beginning of the week. The price performance varies in different regions. As the main consumer and trading area of cyclohexane, the East China region has a relatively large price decline, while the North China region has relatively strong prices, but there is also a certain degree of decline.
2、 Market analysis
Market wise: In April, the trading activity of the cyclohexane market was generally average. In the early stages of price increases, traders and downstream enterprises showed increased purchasing enthusiasm and market trading volume. However, as prices continued to rise, downstream enterprises began to adopt a cautious attitude towards high priced cyclohexane, gradually reducing their purchasing volume. Some small downstream enterprises even reduced their production scale to cope with the pressure of rising costs.
In terms of demand: solvent industry: The demand for cyclohexane in the solvent industry has also decreased. With the improvement of environmental requirements, some solvent companies have begun to look for alternative products, reducing the use of cyclohexane. At the same time, fierce market competition has led to a decline in solvent product prices, squeezing the profit space of enterprises and further suppressing the demand for cyclohexane.
Production situation: The overall operating rate of domestic cyclohexane production enterprises this week is at a relatively high level. Part of the devices that underwent preliminary maintenance have resumed production, further increasing market supply. The operating rate of some large enterprises remains above 80%, which continues to increase market supply pressure.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the situation of oversupply in the market is difficult to change in the short term, and downstream demand is also unlikely to improve significantly in the short term. If the price of raw material benzene continues to decline and the cost of cyclohexane further decreases, the price may continue to decline.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China rose this week (4.1-4.30), with an average market price of 375920 yuan/ton at the beginning of the month and 386910 yuan/ton as of April 30th, an increase of 2.92%.
Technically speaking, the 10 day moving average crossed the 20 day moving average in the first half of the year, and the business social average (10 day moving average -20 day moving average) changed from negative to positive, releasing a clear upward signal. Subsequently, the mean difference remained positive, indicating that the short-term bullish trend was dominant; The average difference between mid month and end of month showed a positive narrowing, corresponding to a periodic price correction, which is a normal adjustment during the upward process and did not trigger a downward signal. At the end of the month, although the price slightly fell, it still remained above the 10 day moving average, and the strong pattern has not changed.
At the macro level, the marginal easing of expectations for the Federal Reserve’s interest rate hike and the weakening of the US dollar index have boosted the non-ferrous sector; The domestic manufacturing PMI continues to be in the expansion range, and the improvement in terminal consumption expectations also provides macro support for tin prices.
Supply and demand and raw material side
Tight supply supports price bottom: Myanmar’s tin ore imports remain low, and domestic smelters are constrained by raw materials, resulting in limited increase in operating rates and tight spot circulation; On the demand side, the marginal recovery of orders in the electronics industry, the recovery of semiconductor prosperity, and the demand for pre holiday replenishment by soldering companies have driven an improvement in spot trading. In terms of inventory, domestic social inventory remains low, and LME inventory as a whole is still at a low level in recent years, further strengthening price support.
comprehensive analysis
Short term tin prices will continue to maintain a strong oscillation pattern, with support around 380000 yuan/ton at the bottom and pressure at the integer level of 400000 yuan/ton at the top. It is necessary to pay close attention to changes in Myanmar’s mineral imports and electronic orders, and be alert to the risk of high-level pullbacks.

1、 Price trend
Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the price of titanium dioxide in the domestic market rose in April. On April 1st, the average price of titanium dioxide was 15260 yuan/ton, and on April 27th, it was 17180 yuan/ton, with a price increase of 23.6%.
2、 Market analysis
The domestic titanium dioxide market prices rose in April. Starting from April 1st, the domestic price of chlorinated titanium dioxide products will be raised by 1000-1500 yuan/ton. On April 15th, Longbai sent a letter to raise the domestic price of titanium dioxide by 1500 yuan/ton and the international price by 200 US dollars/ton. Other manufacturers have followed suit and announced price increases one after another.
The main reason for this price increase is still the high price of sulfuric acid at the raw material end. Although raw material prices have fallen recently due to the international situation, the overall supply of sulfur in the domestic market is tight, and the shortage of spot resources is difficult to effectively alleviate in the short term. The continuous high price of sulfuric acid has become the main driving force behind the price increase of titanium dioxide.
As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 16500-18000 yuan/ton; Sharp titanium type costs around 15000-16000 yuan/ton. Currently, the price increase in the titanium dioxide market is too frequent, and the validity period of the quotation is significantly shortened. The actual transaction price is negotiable on a case by case basis.
According to customs data statistics, the import volume of titanium dioxide in China in March 2026 was 5925.64 tons, a year-on-year decrease of 28.44% and a month on month increase of 68.43%; Among them, the import volume of chloride method titanium dioxide is 3754.33 tons, and the import volume of sulfuric acid method titanium dioxide is 2171.31 tons. The cumulative import volume of titanium dioxide from January to March was about 15600 tons, a year-on-year decrease of 25.10%. Among them, the import of chloride method products was 10162.76 tons, a year-on-year decrease of 15.01%, and the import of sulfuric acid method products was 5405.88 tons, a year-on-year decrease of 38.77%.
According to customs data statistics, the export volume of titanium dioxide in China in March 2026 was about 201500 tons, a year-on-year increase of 8.92% and a month on month increase of 33.03%. Among them, the export volume of sulfuric acid titanium dioxide was about 150600 tons, and the export volume of chloride titanium dioxide was 51000 tons. From January to March, the cumulative export of titanium dioxide was 536800 tons, with a year-on-year increase of 7.15%; Among them, the export of sulfuric acid method was 401000 tons, a slight decrease of 0.60% year-on-year, and the export of chlorination method was about 135800 tons, a significant increase of 39.24% year-on-year.
3、 Future forecast
Business Society’s titanium dioxide analyst believes that the domestic titanium dioxide market prices will rise in April. At present, both international and domestic markets have good demand, with low inventory in large and other factories, and good confidence in enterprises. It is expected that the titanium dioxide market will maintain a strong and high level of operation in the short term.