According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has been consolidating narrowly recently (11.13-11.20). As of November 20th, the spot rubber market in China’s natural rubber market was around 14908 yuan/ton, an increase of 0.17% from 14883 yuan/ton on the 13th. Supported by the cost of natural rubber raw materials and the urgent demand, natural rubber has been slightly adjusted. However, the inventory of Tianjiao at the port continues to increase slightly, which has a certain bearish impact on the Tianjiao market. As of November 20th, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 14800~15100 yuan/ton.
As of November 20th, the price of Thai glue was 57.00 baht/kg, an increase of 1.23% from 56.30 baht/kg on November 13th. The current price of natural rubber raw materials is still running at a high level, and domestic rubber cutting will gradually stop in the later stage. However, the global rubber cutting season will gradually come, and the overall supply of natural rubber raw materials is expected to increase in the later stage. The price of natural rubber raw materials may fall from a high level.
Recently (11.13-11.20), natural rubber inventory has continued to decrease slightly, which has a greater impact on natural rubber. As of November 16, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 452600 tons, an increase of 0.31 tons or 0.70% compared to the previous period.
Recently (11.13-11.20), the overall stability of downstream tire production has provided essential support for the natural rubber market. As of November 15th, the construction of semi steel tires by domestic tire companies has reached around 7.40%; The construction of all steel tires by tire companies in Shandong region has reached about 6.5%.
Market forecast: Currently, natural rubber raw material prices are running at a high level, supported by downstream demand, and the inventory of Tianjiao Port continues to increase slightly. Overall, it is expected that the natural rubber market will mainly fluctuate within a certain range before the holiday.

This week, the focus of transactions in the domestic epoxy propane market has increased. According to the monitoring system of Shengyi Society, as of November 14th, the benchmark price of Shengyi Society’s epoxy propane was 8133.33 yuan/ton, an increase of 5.63% compared to November 1st.
Price influencing factors:
Raw material side: This week, the price of raw material propylene is running strong. There is still support on the cost side, and the center of gravity of epoxy propane has shifted upward. According to the market analysis system of Shengyi Society, as of November 14th, the benchmark price of propylene in Shengyi Society was 5960.75 yuan/ton, a decrease of 1.61% compared to the beginning of this month (6058.25 yuan/ton).
Supply side: Fluctuations in the supply side have affected the temporary supply tension of epoxy propane. The tight supply situation has led to an increase in the price of epichlorohydrin.
Demand side: The downstream demand side has a decent demand for purchasing epoxy propane, with high purchasing enthusiasm and smooth shipment of epoxy propane. It is expected that the epoxy propane market will mainly operate steadily with a moderate to strong trend in the later stage.
Market forecast:
An epoxy propane analyst from Shengyi Society believes that there is still support for the market price of propylene on the raw material side, and downstream demand side has high purchasing enthusiasm, resulting in smooth shipment of epoxy propane. At present, some epoxy propane enterprises are operating at a reduced load, resulting in tight market supply. It is expected that the epoxy propane market will remain stable and strong in the short term, and more attention should be paid to changes in raw material prices and market supply and demand.

On November 14, 2025, the spot price of polyester bottle flakes rose. According to data from Shengyi Society, the average selling price of PET was 5812 yuan/ton.
Cost side strong push: Crude oil prices rebounded significantly on the day, with Shanghai SC crude oil futures reporting 461.2 yuan/barrel, up 1.50%. US crude oil and Brent crude oil also rose more than 2%, thanks to the end of the US government shutdown boosting market confidence and the positive news of additional production cuts announced by oil producing countries such as Saudi Arabia. As the upstream source of PTA, crude oil drove a significant increase in PTA futures prices on the same day. The TA2508 contract closed at 4704 yuan/ton, up 60 yuan or 1.29% from the previous day. The cost of polyester bottle chips is affected by the transmission of the crude oil PX PTA industry chain, and the collective price increase of upstream raw materials has laid a solid foundation for its price rise.
Small positive news on the supply side: PTA supply has been tight recently, with domestic PTA production decreasing by 29400 tons last week compared to the previous value, which has strengthened PTA’s supply support for downstream polyester products. Although the supply side of polyester bottle chips is generally loose, the restart rhythm of some devices after maintenance in the early stage is stable, and there is no large-scale incremental impact on the market, providing a small boost to price increases.
Weak demand side support: Currently, the industry is still in a seasonal off-season, and downstream factories are mostly rigid restocking of polyester bottle chips, lacking the willingness to stock up on a large scale, and lacking the sentiment of chasing price increases. The overall market atmosphere is strong with a wait-and-see attitude. At the same time, the orders in the terminal weaving industry are only 10-20%, and inventory continues to accumulate. This weak demand situation also limits the price increase of polyester bottle chips, making it difficult to see a significant jump.
Overall, Shengyi Society expects the polyester bottle chip market to experience narrow fluctuations in the short term, and the market trend will largely depend on the performance of the cost side. If the cost side strengthens, the price of bottle slices may slightly increase accordingly; On the contrary, it faces downward pressure.

Recently (11.1-11.13), the domestic EVA market has been weak and declining. According to the Commodity Market Analysis System of Shengyi Society, as of November 13th, the benchmark price of EVA in China was 10500 yuan/ton, a decrease of 3.37% from 10866 yuan/ton at the beginning of the month. Downstream photovoltaic and foam demand is weakening; Domestic EVA plant production has slightly decreased, but supply pressure remains; In addition, the weak downward trend in the price of raw material vinyl acetate has led to an overall weakening of the EVA market.
Recently (11.1-11.13), EVA production has slightly decreased from 9.30% at the beginning of the month to around 8.40%, indicating that supply pressure in the EVA market still exists. During the cycle, the prices of raw materials ethylene and vinyl acetate slightly decreased, and the cost faced weakened support from EVA. As of November 12th, the domestic price of ethylene in Sinopec East China was 6200 yuan/ton, a decrease of 1.59% from 6300 yuan/ton at the beginning of the month; As of November 12th, the market price of vinyl acetate in East China was 5750 yuan/ton, a decrease of 1.71% from 5850 yuan/ton at the beginning of the month.
Recently (11.1-11.13), there has been a lack of significant positive support for the demand in the EVA market, with slow follow-up of downstream photovoltaic and foam terminal orders, slow digestion of spot goods, and a decrease in ex factory prices for EVA manufacturers, resulting in a weak downward trend in the EVA market.
Future forecast: Overall, the cost support for EVA will weaken, and the demand for downstream photovoltaic and foam industries will weaken. In addition, there are plans for new equipment to be put into production in the later stage of EVA, and the overall fundamentals of EVA are weak. It is expected that the weak consolidation of EVA spot market will be the main trend in the later stage.

According to the Commodity Market Analysis System of Shengyi Society, since November, negative factors have dominated and the domestic adipic acid market has continued to weaken. On November 1st, the average market price of adipic acid was 6966 yuan/ton. On November 12th, the average market price of adipic acid in China was 6866 yuan/ton, a decrease of 1.44%.
Negative news combined with the continuous decline of domestic adipic acid market
Since November, the market for cyclohexanone, a raw material for adipic acid, and pure benzene raw materials has weakened. Due to poor demand for terminal rigidity, the transaction volume of adipic acid market has declined, and the factory price has fallen. The adipic acid market continues to weaken. As of November 12th, the mainstream market price in Shandong is around 6800 yuan/ton, and the mainstream market price in Jiangsu is 6700 yuan/ton. The average price in the domestic market fell to 6800 yuan/ton, a decrease of 200 yuan/ton from the beginning of the month, a drop of over 1%.
An analyst from Shengyi Society believes that at the end of November, the rigid demand in the terminal industry was poor, and the raw material market was weak. The market for adipic acid continued to decline weakly in the future.