In the first half of August, the overall dichloromethane market showed a pattern of continuous decline and weak operation. The market lacks substantial positive support, and trading is mainly focused on replenishing stocks for essential needs, with a strong wait-and-see sentiment. As of August 14th, the mixed price of dichloromethane in Shandong region was 1945 yuan/ton, a decrease of 12.39% from the beginning of the month.
Core driver analysis
Supply side: High operating capacity, sufficient supply of goods
The current industry operating load remains around 80%, and the overall performance of the supply side is loose. During the cycle, the amount of device recovery exceeds the amount of loss, and the industry’s capacity utilization rate continues to rise. Some companies continue to accumulate inventory, and inventory pressure is evident. Although the company has suffered severe losses, there have been no obvious signs of load reduction in the near future.
On the demand side: weak follow-up, prioritizing urgent needs
The demand performance of downstream terminal industries is poor, and the overall demand for traders and terminal procurement is weak. On site trading is mainly based on small orders for essential needs, lacking sustained large-scale procurement, which has limited support for prices. The strong bearish sentiment in the industry further suppresses purchasing intentions.
Cost side: High pressure, conduction failure
Raw material methanol has stabilized and rebounded, with methanol and liquid chlorine prices operating at medium to high levels. However, dichloromethane continues to decline unilaterally. Due to greater pressure from oversupply, high costs have not been effectively transmitted to dichloromethane prices, resulting in heavy cost pressure for methane chloride enterprises.
Market forecast:
In the short term, the fundamental pattern of oversupply of dichloromethane is difficult to reverse. On the supply side, there has not been a large-scale reduction in inventory in the high opening industry, and there is still accumulated pressure on inventory. In the context of some companies’ losses, if the losses continue to increase, it is not ruled out that passive load reduction may occur in the later stage, which is the main upward variable in the market. On the demand side, downstream demand is still dominated by rigid small orders. Without the concentrated release of refrigerant and export orders, it is difficult to form sustained buying support. The high operation of methanol and liquid chlorine on the cost side has formed a bottom support for spot prices, compressing the potential for significant deep declines.
It is expected that the short-term dichloromethane market will mainly fluctuate at a low level, and it is not ruled out that inertia will slightly bottom out. Under the catalysis of oversold signals, there is a technical opportunity for recovery and rebound. However, the rebound height is limited and belongs to oversold recovery, making it difficult to reverse the medium-term weak pattern. The focus is on manufacturer quotation adjustment, device maintenance and load reduction, and downstream centralized replenishment signals.

As of August 11, 2026, the reference price of n-butanol in Shandong Province, China was 6983 yuan/ton, a decrease of 33 yuan or 0.48% from August 1 (reference price of n-butanol was 7016 yuan/ton).
1、 Price trend data
In early August, the overall n-butanol market in Shandong, China, showed a slight decline followed by a stable operation at a low level. From August 1st to 6th, the n-butanol market price was adjusted and the market performance was relatively calm. On August 7th, major n-butanol factories in Shandong lowered their n-butanol shipment prices by 100 yuan/ton, which led to a downward adjustment of the market focus. Subsequently, the market continued to consolidate at a low level. As of August 11th, the n-butanol market price in Shandong was around 6850-7100 yuan/ton.
2、 Fundamental situation
In terms of cost: In early August, the market price of propylene, the upstream raw material for n-butanol, increased, and the cost aspect improved, providing some cost support for n-butanol. The decline in n-butanol market is limited.
On the demand side: Currently, the demand for n-butanol in the market is relatively cautious, with downstream users mainly continuing their rigid demand or buying at low prices. The overall trading performance of the market is average.
On the supply side: Currently, the overall operating rate of the n-butanol market is slowly decreasing, and the overall supply of the market is narrowing, indicating a weak supply-demand situation.
3、 Future forecast
At present, the trading atmosphere of n-butanol in the market is relatively weak, and the wait-and-see sentiment is gradually increasing. Although the cost is supported, the transmission of supply and demand is generally boosted, and market inquiries are mostly at the low end. It is expected that in the short term, the n-butanol market price will mainly fluctuate and consolidate, and specific attention needs to be paid to downstream industry operating conditions and changes in supply and demand factors.

1、 Price trend
As of August 10th, the benchmark price of acrylic acid in the market was 8383.33 yuan/ton, up 0.40% month on month. Reviewing the trend of the market, after completing a round of price increase on August 3rd and 4th, the price fluctuated and consolidated at the 8350 yuan/ton platform for a long time, and the long short game entered an equilibrium state.
From the perspective of the moving average system and the moving average index, the 10 day moving average crosses the 20 day moving average upwards, and the moving average turns from negative to positive, releasing a short-term upward signal. The percentile data shows that the price positions of 10 days, 20 days, 30 days, and 60 days are all running at high levels, the 90 day position is in the middle, and the annual position is in the middle and low levels.
Analysts believe that short-term prices have reached a near two month cycle high, but compared to the historical range of the whole year, the current price has not reached the historical extreme position. This round of rise is more of a technical repair after a sideways trend, rather than a significant upward trend.
2、 Driving factor analysis
1. Upstream raw material support: Strong upward trend in propylene prices
As of August 11th, the benchmark price of propylene was 8161.00 yuan/ton, an increase of 2.94% compared to the beginning of this month (7927.67 yuan/ton). As the core upstream raw material of acrylic acid, the price increase of propylene directly pushes up the production cost of acrylic acid, providing support for the price of acrylic acid.
2. Downstream demand expectation: marginal improvement in butyl acrylate
Butyl acrylate is the main downstream product of acrylic acid. If the demand in downstream industries such as coatings, adhesives, textiles, etc. recovers, it will drive the enthusiasm for acrylic acid procurement. Combining the logic of the industrial chain, in the transmission chain of propylene acrylic acid butyl acrylate, the upstream propylene price increase and downstream demand expectation repair jointly promote the narrow upward trend of acrylic acid prices.
3. Short term supply-demand balance: Stable inventory and operating rate
From August 4th to August 9th, the price remained stable, and the market supply and demand were in a “weak balance”: production enterprises had stable operating rates, downstream essential procurement was the main focus, and there was no obvious inventory backlog or supply shortage. The slight price increase on August 10th may be due to some companies’ exploratory price adjustments and downstream stage restocking.
4、 Future prospects
Short term: Supported by the rise in propylene prices, the golden cross of the moving average (above the 10th and below the 20th), and downstream replenishment expectations, acrylic acid prices may continue to rise narrowly. Attention should be paid to the actual purchasing power of downstream and the sustainability of propylene prices.
Mid term: If the price of propylene remains strong and downstream demand (such as butyl acrylate) further recovers, acrylic acid is expected to exceed 8400 yuan/ton; If downstream demand falls short of expectations, prices may fluctuate around 8350 yuan/ton.

From August 3rd to 7th, the domestic aggregated MDI market saw a slight increase, with an average price of 17866 yuan/ton at the beginning of the week. On August 7th, the average price was 18066 yuan/ton, an increase of 1.12% during the week and a year-on-year increase of 14.35%. During the week, there were frequent reports of major factory maintenance, and under the expectation of tight supply, factory sources were tight and prices remained firm. Intermediaries saw a slight increase, market inquiries increased, and small orders were the main focus of transactions. Under the supply-demand game, the center of gravity for aggregated MDI transactions shifted slightly upward.
Supply side: The MDI plant with a production capacity of 80000 tons per year in Tosa, Japan, will be shut down for maintenance at the end of July, with a duration of approximately one month. The 200000 ton/year MDI plant in Tosa, Japan is scheduled to start shutdown and maintenance in early September, with a duration of about 45 days. The 1.1 million tons/year MDI plant in Wanhua Yantai Industrial Park will be shut down for maintenance starting from August 10, 2026, with an estimated maintenance period of about 45 days.
Cost aspect: The price center of the pure benzene market has fallen, and the foundation continues to strengthen; With the expected increase in the resumption of cross-strait navigation, the tight situation of crude oil supply is expected to gradually ease, and crude oil prices are expected to decline. The cost support for pure benzene has weakened, and recently, domestic early shutdown and maintenance facilities have gradually returned, which is expected to gradually ease the tight supply situation and further promote the decline of pure benzene prices.
Demand side: Downstream demand inquiries are generally average, with small orders being the main focus after price increases, resulting in insufficient demand support.
Future forecast: There is an expectation of tight supply in the aggregated MDI market, and factories’ willingness to raise prices is not reduced. However, the demand side support is weak, and it is expected that the resistance to pushing up the aggregated MDI market will increase in the short term. We will closely monitor market supply and demand as well as changes in the news side.

The price trend of acetic acid in July first rose and then fell. As of July 31, the average market price was 3223.33 yuan/ton, an increase of 160 yuan/ton compared to the beginning of the month when the acetic acid price was 3063.33 yuan/ton, with a 5.22% increase during the month.
The acetic acid market was generally strong in July. In the first half of the month, the on-site acetic acid plant underwent centralized maintenance, the market supply tightened, and enterprises showed a strong intention to rise, resulting in a continuous increase in acetic acid prices; In the second half of the month, with the restoration of some maintenance facilities, the expected supply of acetic acid will increase. At the same time, downstream purchasing enthusiasm is not high, and more follow-up is needed. The atmosphere in the venue has weakened, and the focus of acetic acid transactions has shifted downwards. However, due to the lack of significant improvement in acetic acid production rate, acetic acid in some areas will continue to operate at a high price.
The methanol market fluctuated within a range in July. As of July 31st, the average market price was 2627 yuan/ton, an increase of 1.31% compared to the beginning of the month price of 2593 yuan/ton. Driven by geopolitical conflicts and domestic equipment maintenance, the methanol market has a strong intention to rise, but downstream traditional consumption demand is not good during the off-season, and market mentality games limit methanol growth. The long-term support of raw material methanol for acetic acid is insufficient, and the cost benefits are limited.
Market forecast: Analysts believe that with the recovery of acetic acid plants in the later stage, market supply expectations will increase, while downstream demand is unlikely to improve in the short term, and fundamental supply will weaken. It is expected that the acetic acid market will weaken and consolidate in August, and specific attention will be paid to the restart of plants and downstream follow-up.