In the first half of October, the organic raw materials market in Southwest China showed mixed trends. The triphenyl market remained stable, with prices gradually increasing. Meanwhile, the pure benzene market in the region was relatively steady, while toluene and xylene also experienced a gradual upward trend. However, in the afternoon trading session, the market faced uncertainty due to weak crude oil prices and sluggish external trade activity. This led to dull or even declining trading volumes, which could increase pressure on triphenyl prices. Currently, the price range for pure benzene is between 7,300 to 7,500 yuan per ton, toluene is priced at 6,900 to 7,000 yuan, and xylene is trading between 7,300 to 7,500 yuan.
The phthalic anhydride market remained sideways, with only minor price fluctuations. After the holiday, benzene anhydride prices moved steadily, but the market showed a wait-and-see attitude with limited transactions. The overall atmosphere was flat. Traders were concerned about potential downward pressure due to long-term consolidation, although current raw material prices remained stable, supporting the cost base for phthalic anhydride. The current market price for phthalic anhydride stands at 8,100 to 8,200 yuan per ton.
The phenol market saw improved sentiment, with prices rising steadily. This was driven by increased demand from downstream manufacturers who were replenishing their raw material stocks after the holiday, leading to higher trading volumes. Looking ahead, new production facilities are expected to come online this month, which may put pressure on supply. At present, the phenol market is priced between 9,750 to 9,900 yuan per ton.
The acetone market fluctuated within a narrow range, with prices gradually declining. Post-holiday trading was light, and there was no significant demand surge. With ample supply, end-users were not eager to purchase, and transactions were dominated by small orders, resulting in weak market sentiment. If trading volume continues to drop, prices may slowly decline during the consolidation phase. The current acetone price range is 6,750 to 6,900 yuan per ton.
Methanol prices broke out of a consolidation phase and rose sharply. Prices increased significantly in the first half of October, with pre-holiday demand pushing prices up. After the holiday, major methanol producers in Southwest China raised their sales prices one after another, helping to reduce inventory pressures and driving up market prices. Domestically, the methanol market continued to rise, providing a solid foundation for regional markets and supporting further price increases. The current mainstream price is 2,000 to 2,100 yuan per ton.
The formaldehyde market saw a slight recovery, with prices gradually rising. Post-holiday production rates remained high, ensuring adequate supply. Increased purchasing by downstream users, along with a significant rise in methanol prices, helped support the cost base for formaldehyde, improving market confidence. As raw material prices continue to recover, the price space for formaldehyde is expected to expand. If downstream demand remains steady, it could further push up prices. The current formaldehyde price range is 1,000 to 1,060 yuan per ton.
The acetic acid market remains tight in supply, but prices have slightly retreated. The southwest acetic acid market has shown some independence, with a recent decline in the operating rate of the acetylene plant in Yangzhou leading to reduced supply and supporting traders in maintaining stable prices. However, there was no significant improvement in the downstream acetate market after the holiday, and the cost pressure on the downstream industry increased as acetic acid prices surged, leading to growing wait-and-see attitudes. Looking ahead, with long-standing price levels and limited trading volume, the upward momentum is insufficient. The current market price for acetic acid is between 7,000 to 7,300 yuan per ton.
The vinyl acetate market was very strong, with prices skyrocketing. Early market sentiment was highly positive, and many participants were optimistic about the post-holiday market. After the long holiday, trading activity was very active, with end users replenishing inventories and well-funded middlemen entering the market to seek opportunities. Manufacturers actively promoted prices, leading to a sharp increase in ex-factory prices and greatly stimulating market interest. In the afternoon, external market prices for vinyl acetate also rose significantly, and the tight supply situation supported further price increases. The current market price for vinyl acetate is between 10,900 to 11,000 yuan per ton.
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