At the end of October, the domestic ABS market continued to be weak, with most spot prices of various grades lowered. According to the Commodity Market Analysis System of Shengyi Society, as of October 27th, the average price of ABS sample products was 9287.50 yuan/ton, with a price level increase or decrease of 5.71% compared to early October.
Fundamental analysis
Supply level: Since October, the overall operating rate of the domestic ABS industry has remained stable with small fluctuations. Recently, except for Haijiang in Shandong, which has reduced its load to 60%, there have been no announced maintenance tasks for other polymerization plants. Later, Zhejiang Petrochemical planned to increase production, while Huajin Chemical planned to restart the front line. The industry load level has slightly decreased by 0.2% to around 72.8%. The average weekly output remained stable at over 140000 tons, while the inventory level of aggregation enterprises remained stable at a high level close to 260000 tons, and the on-site supply remained abundant. Overall, the long-term loose supply pattern in the ABS market remains unchanged, and the supply side’s support for ABS spot prices continues to be weak.
Cost factor: At the end of October, the overall trend of ABS upstream three materials was weak, and the impact on the cost side of ABS did not improve. Among them, the fundamental changes of acrylonitrile are limited, the overall supply is loose and there is no expectation of reduction in the short term, while the demand remains overall. Buyers mainly purchase on demand, and acrylonitrile manufacturers continue to lower prices. In addition, the cost support has also weakened recently, and the market may continue to move downwards.
Recently, the domestic butadiene market has fluctuated and declined. The enthusiasm for entering the downstream synthetic rubber market is low, and the purchasing intention for raw material butadiene is weak. The actual transaction performance in the market is poor, and there is a lack of demand support. In addition, due to the restart of some domestic facilities, the overall supply side is relatively loose. The market lacks favorable factors to boost, so it is recommended to focus on downstream procurement demand.
Styrene stopped falling at a low level at the end of October and rebounded slightly. The main port in East China for raw material pure benzene maintains a pace of destocking, but the market mentality is weak and the market continues to weaken and decline. Recently, although there has been a slight decrease in styrene port inventory, there is significant resistance to price increases due to the drag of the decline in crude oil prices. The main downstream consumption is expected to remain stable with moderate growth, and there are no signs of large-scale volume expansion. It is expected that the styrene market will operate weakly in the short term.
On the demand side: In the medium to long term, the downstream factories of ABS have had average loads. In October, the aggregation plant experienced double inventory accumulation and increased shipping pressure. On the other hand, terminal enterprises are affected by the macro market environment, resulting in weakened sales and profitability. The consumption of the main downstream electrical appliance shell industry is still in a dormant state, and there is no increase in production scheduling. The cautious atmosphere in the external market remains unchanged, and the industry’s export situation is poor. The overall stocking logic still maintains the urgent need for replenishment, and the flow rate of goods is slow. The inventory position of merchants is also high, and under the increasing pressure of on-site sales, both enterprises and merchants are offering discounts and taking orders. Overall, there has been no improvement in the demand side’s support for the ABS market.
Future forecast
At the end of October, the domestic ABS market maintained a downward trend. The overall weakness of the upstream three materials is due to the high and stable production load of the ABS polymerization plant, with little fluctuation, and no increase in consumer demand. Analysts from Shengyi Society believe that the long-term drag on spot prices of ABS due to supply and demand contradictions makes it difficult for the market momentum to improve. The bullish fundamentals in the future are difficult to show, and this year’s ABS “golden nine and silver ten” have been falsified, causing many industry players to have a bearish attitude. It is expected that there will still be downward pressure on ABS in the short term.

This week (October 20-24, 2025), the center of gravity of nylon PA6 slicing upstream of nylon filament weakened downward, cost support weakened, on-site supply was sufficient, inventory levels continued to increase, coupled with weak terminal demand and weak purchasing willingness of downstream manufacturers, market bearish factors dominated, and nylon filament market prices continued to decline weakly.
According to the Commodity Market Analysis System of Shengyi Society, the price of nylon filament fell weakly this week (October 20-24, 2025). As of October 24, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 13560 yuan/ton, a decrease of 100 yuan/ton compared to the same period last week, with a weekly decrease of 0.73%; Nylon POY (premium product; 86D/24F) quoted 11300 yuan/ton, a decrease of 100 yuan/ton compared to the same period last week, with a weekly decrease of 0.88%; The price of nylon FDY (premium product: 40D/12F) is reported at 14175 yuan/ton, a decrease of 150 yuan/ton from the same period last week, with a weekly decline of 1.05%.
Weakening of raw material support
In terms of cost: This week (October 20-24, 2025), the spot market price of caprolactam continued to decline weakly, with Sinopec’s caprolactam closing price of 8710 yuan/ton. The nylon PA6 chip market mainly operated weakly, with a slight price drop and weak cost support. As of October 24, 2025, the benchmark price of caprolactam in Shengyi Society was 8403 yuan/ton, with a weak price and a slight decline of 0.67% per week. During the week, the market price of high-speed spun nylon PA6 chips fell weakly, with a weekly decline of 2.33%, and the cost support continued to be weak.
Supply and demand: During the week, some nylon filament manufacturers had sufficient overall supply, but the industry’s inventory level continued to increase. Some companies had orders placed, but the overall activity was far below the same period last year. Overall, the market demand performance was weak, leading to increasing inventory pressure on nylon factories. Poor performance on the supply side; The demand in the end market is weak, and some downstream manufacturers have reduced production or switched production, resulting in a decrease in demand for nylon filament. It is difficult to find favorable support from the demand side, and many parties are following suit with rigid demand. Many industry players are adopting a cautious and wait-and-see attitude.
Future forecast
Cost aspect: In terms of caprolactam, the expectation for pure benzene is weak, and slice manufacturers have low enthusiasm for purchasing caprolactam. It is expected that the caprolactam market will remain weak and mainly consolidate at a low level in the short term; In terms of nylon PA6 chips, cost support is limited, and the supply level of PA6 chips in the market may continue to improve. Downstream market demand is weak, and it is expected that the market price of nylon PA6 chips will weakly decline.
Supply and demand: Although October is the traditional peak season, the difference between peak and off peak seasons is no longer clear in recent years, and the trading atmosphere continues to be weak. Therefore, it is expected that the demand for nylon filament market will remain weak next month. However, under the current inventory pressure, some nylon filament manufacturers may have the possibility of reducing their production capacity, while the industry continues to release new production capacity, resulting in overall supply pressure remaining relatively high.

Overall, the upstream raw material caprolactam spot market and nylon PA6 chip market will continue to operate weakly, with a lack of cost support, high supply pressure, and difficulty in improving downstream market demand. Follow up on demand will be the main focus, with prominent supply-demand contradictions and no positive news. Business analysts predict that the short-term nylon filament market will continue to be low and stable, with weak price consolidation as the main trend.

Recently (10.14-10.22), the domestic EVA market has been weak and declining. According to the Commodity Market Analysis System of Shengyi Society, as of October 22, the benchmark price of EVA in China was 11200 yuan/ton, a decrease of 1.47% from 11366 yuan/ton on the 14th. Downstream demand for photovoltaics and foam is weakening, and inquiries are mostly wait-and-see; The production of EVA equipment in China is still at a high level, and the supply pressure is still high; Although the price of raw material vinyl acetate remains stable and there is still support, the overall EVA market has weakened under the comprehensive influence.
Recently (10.14-10.22), EVA production has slightly decreased to around 90%, and overall production is still at a high level, indicating that supply pressure in the EVA market still exists. During the cycle, the prices of raw materials ethylene and vinyl acetate remained stable, but the cost faced EVA support still exists. As of October 22, the domestic price of ethylene in Sinopec East China was 6300 yuan/ton, unchanged from the price on October 14; As of October 22, the price of vinyl acetate in the East China market was 5850 yuan/ton, unchanged from the price on October 14.
Recently (10.14~10.22), the demand for EVA has been weak, and spot purchases in the photovoltaic sector have slowed down. Downstream orders for foaming have been slow to follow up, and spot digestion has been slow. EVA manufacturers have lowered their ex factory prices, resulting in a weak downward trend in the EVA market.
Future forecast: Overall, EVA still has cost support, but there will be less maintenance of EVA equipment in China after the holiday, with sufficient supply. Downstream demand in the photovoltaic and foam industries will weaken, and it is expected that the EVA spot market will continue to decline slightly in the later period.

According to the Commodity Market Analysis System of Shengyi Society, from October 13th to 17th, the domestic BDO price remained at 8735 yuan/ton, with a month on month decrease of 1.02% and a year-on-year increase of 1.67%. Partial device maintenance, agent replacement, short shutdown or load reduction, etc. have reduced the supply of goods, supporting the supplier’s stable market mentality. The downstream demand performance after the holiday is average, and there is a bargaining sentiment towards raw material inventory under cost pressure. The supply-demand negotiation game results in a weak and stable market trading focus.
In terms of supply and equipment, the industry’s capacity utilization rate has declined to below 50%, with increased support from the supply side and active efforts from suppliers to stabilize the market. The supply side of BDO is expected to be affected by favorable factors.
On the cost side, raw material calcium carbide: There have been periodic fluctuations in the domestic calcium carbide market. Recently, the supply instability in Inner Mongolia has strengthened, and the orderly use of electricity has led to unstable supply, resulting in a sharp decrease in periodic supply. Downstream maintenance is concentrated, and the supply-demand game is fierce, resulting in a decrease followed by an increase in the price of calcium carbide. Raw material methanol: The domestic methanol market is mainly sorted out. As of 3:00 pm on October 17th, the reference price for domestic methanol in Taicang is 2260 yuan/ton. Fluctuations in raw material calcium carbide, weak consolidation of methanol, and mixed impact on BDO cost.
On the demand side, after the holiday, the main downstream PTMEG industry will undergo equipment maintenance, while other equipment will operate more stably, resulting in a reduction in overall demand side digestion. Before the National Day holiday, downstream industries mostly complete stocking up, and after the holiday, they tend to digest early inventory or maintain contract follow-up. The spot purchase volume is light and negotiated, suppressing the trend of raw materials. The demand side of BDO is affected by bearish factors.
Future forecast: Some maintenance equipment will restart, leading to an increase in BDO supply. Downstream industries such as PTMEG and PBT have seen a decrease in production, resulting in a reduction in raw material digestion. The game between supply and demand is intensifying, and BDO analysts from Business Society predict that market volatility will be limited.

This week, with loose supply and sustained demand, some companies have seen an increase in inventory. The acrylonitrile market continues to decline due to oversupply, with prices hitting a new low for the year. As of October 16th, the mainstream tank discharge price in East China ports has increased by 7900-7950 yuan/ton, a decrease of 50-100 yuan/ton compared to last week; Short distance delivery to Shandong market is 7850-7950 yuan/ton, a decrease of 100 yuan/ton from last week.
Loose supply:
There has been no fluctuation in the equipment during the week, and the 92000 tons/year acrylonitrile unit of Fushun Petrochemical is still in a shutdown state. The restart time has been postponed, and the specific time is yet to be determined. Under the situation of loose supply, inventory has increased. According to statistics, as of September 18th, the weekly capacity utilization rate of domestic acrylonitrile factories reached 79.37%, with a weekly output of about 90500 tons, which is basically the same as the previous cycle. The total inventory is about 51000 tons, which is+0.45 million tons compared to last week.
Demand maintenance:
This week, the capacity utilization rate of major downstream industries of acrylonitrile fluctuated, among which the ABS capacity utilization rate was 73.1%, an increase of 0.6% compared to last week; The capacity utilization rate of acrylic fiber enterprises is 75.63%, which is -0.9% compared to last week; The utilization rate of acrylamide production capacity was 54.61%, which was -0.36% compared to last week. The overall demand is basically maintained.
Cost reduction:
This week, the production cost of acrylonitrile has decreased. As of October 16th, the market price of propylene in Shandong was 6200-6230 yuan/ton, a decrease of 150-200 yuan/ton from last weekend’s 6350-6430 yuan/ton. At the same time, the price decline of acrylonitrile narrowed, and the production loss situation slightly improved this week. According to statistics, the average production cost of acrylonitrile this week was 8630 yuan/ton, with a month on month decrease of 2.71%. The average production profit of acrylonitrile during the same period was -698 yuan/ton, with a month on month increase of 122 yuan/ton.
In the later forecast, the current price has reached the lowest level of the year, and local buying has followed suit. However, the loose supply situation is unlikely to improve significantly in the short term, and the cost support has also weakened, making it difficult for the market to reach a bottom.