Chemical Prices Today (September 14, 2026): Daily Market Trends & Price Changes

Basic chemicals showed a clear divergence on September 14, with the market shifting from broad-based strength toward more product-specific price movements. Acetic acid, Dichloromethane, Ethylene Oxide, Ammonium chloride, and Methanol were among the strongest gainers, while Phenol, Propylene glycol, Ethyl acetate, Propylene, and Sulfur recorded notable declines. The aromatics complex also retreated after a strong rally in the previous sessions, with Benzene, Toluene, and Xylene falling 2.03%, 3.58%, and 1.12%, respectively, although their monthly gains remained elevated at 17.08%, 18.77%, and 20.44%. The overall market therefore appears to be entering a phase of internal rotation rather than a broad reversal, as products with strong recent gains begin to encounter profit-taking and downstream resistance, while selected products with tighter spot availability or stronger supply-side support continue to move higher.

The Acetic acid chain remained one of the strongest segments of the market. Acetic acid increased 4.10% day-on-day to CNY 4,063/ton, extending its weekly gain to 7.37% and its monthly increase to 16.98%. Acetic anhydride also moved higher, although at a much slower pace, rising 0.79% to CNY 6,413/ton. The continued appreciation of Acetic acid, despite weakness in several downstream solvent products, suggests that the upstream acetyl market remains relatively tight. The divergence between Acetic acid and Ethyl acetate is particularly noteworthy: while Acetic acid strengthened further, Ethyl acetate plunged 8.43% to CNY 6,151/ton after its sharp increase in the previous session. This indicates that the earlier Ethyl acetate rally was likely driven partly by short-term spot tightness and aggressive supplier pricing rather than a sustained improvement in downstream demand. The current structure therefore points to stronger upstream pricing power but increasingly uneven downstream absorption.

The phenol-ketone chain experienced a sharp correction after several sessions of strength. Phenol fell 5.71% to CNY 9,075/ton, while Acetone declined 3.59% to CNY 9,063/ton. The simultaneous decline of the two products is significant because Phenol and Acetone are co-products within the phenol-ketone production chain. The correction therefore appears to reflect a broader adjustment in the chain rather than an isolated movement in one downstream product. Despite the latest decline, Acetone remained 23.40% higher on a monthly basis, while Phenol was still up 5.69%. This means that the current weakness should be interpreted primarily as profit-taking and normalization after a strong rally, rather than an immediate structural bearish reversal. The magnitude of the monthly increase also leaves producers with relatively high replacement costs, but downstream buyers may increasingly resist further price increases unless spot supply tightens again.

The aromatics complex also entered a correction phase, but the medium-term trend remained firm. Benzene declined 2.03% to CNY 9,634/ton, Toluene fell 3.58% to CNY 8,517/ton, and Xylene decreased 1.12% to CNY 8,800/ton. The declines followed a strong earlier rally, with monthly gains still standing at 17.08%, 18.77%, and 20.44%, respectively. This combination of a negative daily change and a large monthly increase suggests that the aromatics market is undergoing a short-term consolidation rather than a complete trend reversal. Recent market data showed that Chinese Benzene prices had risen sharply during September 7–11, increasing by more than 12% over the week, which helps explain the subsequent correction as buyers and traders reassessed the elevated price base. The current price structure also suggests that downstream derivatives may face increasing margin pressure if aromatics prices remain elevated for an extended period.

Chloromethane products were among the most notable exceptions to the broader correction. Dichloromethane surged 12.59% to CNY 2,460/ton, extending its weekly gain to 8.13%, while Chloroform increased 5.32% to CNY 2,317/ton. The simultaneous strength of these two chlorinated solvents points toward a supply-side tightening within the chloromethane chain. Unlike the aromatics and phenol-ketone complexes, which were correcting after strong gains, Dichloromethane and Chloroform were still accelerating on both a daily and weekly basis. This makes the chloromethane chain one of the most important areas to monitor for potential supply disruptions, operating-rate changes, feedstock cost transmission, and producer inventory levels. The relatively moderate monthly increase of Dichloromethane at 5.87% also suggests that part of the latest rally may represent a catch-up move rather than an already fully priced-in trend.

Ethylene oxide and the EVA chain strengthened further, suggesting firmer conditions in selected ethylene derivatives. Ethylene Oxide increased 6.98% to CNY 9,200/ton, with weekly and monthly gains reaching 7.51% and 10.34%, respectively. EVA also rose 3.93% to CNY 11,017/ton, while PET increased 0.78% to CNY 8,651/ton. The simultaneous movement of Ethylene Oxide and EVA is notable because these products are more closely linked to downstream polymer and specialty-chemical demand than several of the commodities that declined on the same day. The price increase therefore indicates that not all downstream chemical demand is weakening uniformly. Instead, selected ethylene derivatives appear to retain relatively firm procurement requirements, allowing producers to maintain stronger pricing. Continued monitoring of operating rates and inventory levels across the ethylene oxide and EVA chains will be important in determining whether the latest increase can be sustained.

The Propylene chain showed one of the clearest reversals in the market. Propylene declined 4.31% to CNY 9,618/ton, while Propylene glycol fell an even sharper 7.10% to CNY 10,033/ton. The combined decline is significant because it suggests that weakness is propagating from the upstream olefin into its downstream derivative rather than being confined to one product. Propylene nevertheless remained 12.85% higher on a monthly basis, while Propylene glycol was still 2.41% above its level one month earlier. The current structure therefore resembles a margin and inventory adjustment after a period of higher feedstock costs. If Propylene prices continue to weaken, downstream Propylene glycol producers may regain some feedstock cost relief; however, weaker downstream demand could limit the extent to which lower raw-material costs translate into higher operating rates.

Methanol moved in the opposite direction and remained one of the strongest products on a monthly basis. Methanol increased 2.58% to CNY 3,782/ton, bringing its weekly gain to 3.90% and its monthly increase to 27.42%. The size of the monthly increase indicates that Methanol remains one of the most structurally strong products in the current Basic Chemicals basket. Recent market assessments continue to characterize the Methanol market as highly volatile, with supply-side risks, energy-related cost expectations and seasonal demand providing support. The latest increase also contrasts with the weakness seen in Propylene and the aromatics complex, suggesting that feedstock and supply conditions remain highly differentiated across the chemical sector. At current price levels, however, the sustainability of Methanol's rally will increasingly depend on whether downstream demand can absorb the higher feedstock cost without significant margin compression.

Inorganic chemicals remained mixed, with sulfur continuing to weaken while selected nitrogen products stabilized. Sulfur declined 5.78% to CNY 7,869/ton, extending its weekly and monthly losses to 4.93% and 9.45%, respectively. Sulfuric acid was comparatively stable at CNY 1,840/ton, down only 0.54% on the day and still marginally higher on a weekly basis. The divergence between Sulfur and Sulfuric acid indicates that lower upstream sulfur prices have not yet translated into a corresponding decline in sulfuric acid pricing, potentially reflecting differences in local supply-demand balances, smelter economics and transportation costs. Meanwhile, Ammonium chloride jumped 9.72% to CNY 790/ton despite a weekly decline of 4.70%, while Ammonium sulfate edged up 0.51%. The sharp rebound in Ammonium chloride therefore appears more like a short-term correction within a volatile fertilizer-related market than evidence of a broad-based recovery.

Lithium carbonate, Cobalt and Nickel remained under pressure, maintaining their divergence from the petrochemical complex. Lithium carbonate declined 0.74% to CNY 134,000/ton, extending its weekly and monthly declines to 3.60% and 2.65%. Cobalt fell 0.92% to CNY 280,200/ton, while Nickel declined 1.03% to CNY 126,267/ton. The weakness across these battery-related materials suggests that downstream purchasing remains selective, even as supply uncertainty continues to support longer-term price expectations for some battery metals. Recent market commentary indicates that China's lithium carbonate market softened during the second week of September as downstream buyers became more selective, while producers remained reluctant to aggressively lower offers. The resulting market is characterized by weak near-term demand but persistent medium-term supply uncertainty, which is keeping prices volatile rather than allowing a decisive directional move.

Overall, the September 14 Basic Chemicals market shifted from broad strength toward a more differentiated and rotational pattern. The strongest positive signals came from Acetic acid, Dichloromethane, Chloroform, Ethylene Oxide and Methanol, where daily gains were accompanied by either positive weekly momentum or relatively firm monthly trends. In contrast, Phenol, Acetone, Ethyl acetate, Propylene, Propylene glycol, Benzene, Toluene, Xylene and Sulfur experienced notable corrections after substantial earlier gains. The most important feature of the session was therefore not the absolute number of rising or falling products, but the increasing divergence between individual value chains. Products that had rallied rapidly are beginning to face stronger downstream resistance and profit-taking, while products exposed to tighter spot supply continue to outperform. Going forward, the key market question is whether the current corrections remain temporary consolidations or develop into a broader normalization of high-priced chemical markets. For Basic Chemicals, supply availability, producer inventory, operating rates and downstream replenishment should therefore remain more important near-term indicators than headline commodity sentiment alone.

Fine chemicals showed exceptionally high dispersion on September 14, with price movements ranging from strong gains in Silver iodide, Creatine monohydrate and Dimethyl carbonate to sharp corrections in Dimethyl sulfoxide and Trichloroethylene. The most extreme move came from Silver iodide, which surged 200.67% day-on-day to CNY 1,804/kg. However, the magnitude of this increase should be interpreted cautiously, as Silver iodide is a highly specialized, relatively small-volume product and its reported market quotations show substantial specification and range differences. By contrast, Dimethyl carbonate rose another 3.58% to CNY 6,733/ton, extending its monthly increase to 33.28%, making it the clearest trend-driven gainer in the current Fine Chemicals basket. Meanwhile, Dimethyl sulfoxide fell 11.07% and Trichloroethylene declined 8.98%, highlighting the sharp short-term volatility of specialty solvents. Overall, the Fine Chemicals market remains highly fragmented, with individual supply conditions, application-specific demand and quotation liquidity playing a greater role than broad-based chemical cost movements.

Dimethyl carbonate remained the strongest trend-driven product in the group. Dimethyl carbonate increased 3.58% to CNY 6,733/ton, bringing its weekly gain to 6.06% and its monthly increase to 33.28%. The combination of positive daily, weekly and monthly momentum indicates that the current rally is broader than a one-day spot-market fluctuation. Market data for September 14 also showed battery-grade Dimethyl carbonate around CNY 7,500/ton under a different market and delivery specification, confirming that the product remains in a relatively firm pricing environment. The strength of Dimethyl carbonate is closely related to its position in the electrolyte-solvent chain, where lithium-battery demand, electrolyte production schedules, producer operating rates and upstream raw-material costs can all influence spot pricing. The key issue going forward is whether the current price increase will be absorbed by downstream electrolyte and battery-material producers or begin to encounter margin resistance. With the monthly increase already above 30%, further upside is likely to require continued tightness in spot supply or stronger-than-expected downstream procurement.

Dimethyl sulfoxide experienced a sharp reversal after a period of elevated prices. DMSO declined 11.07% to CNY 10,850/ton, reversing a significant portion of its previous strength. Public market quotations around September 8 were still around CNY 12,200/ton domestically, with regional quotations ranging from approximately CNY 9,500 to CNY 13,200/ton, indicating a relatively wide market spread. The latest decline therefore appears to reflect a combination of price normalization, changing spot availability and buyer resistance at elevated quotation levels, rather than a sudden collapse in underlying end-use demand. DMSO serves a broad range of pharmaceutical, electronic, chemical-processing and specialty applications, meaning its market can be particularly sensitive to individual producer availability and contract-versus-spot purchasing structures. The fact that its monthly change remains slightly positive at 0.43% also indicates that the latest move is better viewed as a short-term correction than as an established downward trend.

Silver iodide recorded an extraordinary statistical increase, but the move should not be treated as a conventional commodity rally. Silver iodide jumped from CNY 600/kg to CNY 1,804/kg, equivalent to a 200.67% day-on-day increase. Public price records confirm that this product has experienced unusually wide quotation ranges: for locally produced material above 99.5%, quotations moved between approximately CNY 600 and CNY 2,406/kg during July through September, while a three-month average was around CNY 1,728/kg. The large daily percentage change is therefore heavily influenced by the low starting quotation and the highly fragmented nature of the market. The more appropriate interpretation is a sharp repricing within a thin and volatile specialty market, rather than a 201% structural increase in production costs. Silver iodide is used in highly specialized applications including cloud seeding and weather modification, and recent attention to silver-iodide-based cloud-seeding research has highlighted its continued niche demand. Nevertheless, the limited size and liquidity of this market mean that individual procurement orders, specifications and supplier availability can have an outsized impact on reported prices.

Creatine monohydrate also strengthened sharply on the day, although its broader trend remained relatively neutral. Creatine monohydrate increased 5.74% to CNY 21,500/ton, while its weekly gain reached 3.20%. However, the monthly increase was only 0.09%, indicating that the latest movement has not yet developed into a sustained upward trend. Public market data around September 10 showed mainstream first-class creatine quotations around CNY 20,800/ton, with several other specifications carrying significantly different price levels, highlighting substantial variation by grade and product form. The latest increase may therefore reflect short-term procurement activity, supplier quotation adjustments or specification-related price differences rather than a broad tightening of the creatine market. Given its downstream exposure to sports nutrition and food-supplement demand, further confirmation would require sustained increases in weekly and monthly prices rather than a single-session jump.

Trichloroethylene remained under pressure, extending the correction seen across the specialty-solvent segment. Trichloroethylene declined 8.98% to CNY 4,642/ton, with weekly and monthly changes of -1.07% and -0.45%, respectively. Public market data around September 8 showed China domestic prices near CNY 4,200/ton, while regional and enterprise quotations varied substantially depending on specification and supplier. The market was also described as rangebound earlier in September, with September contract pricing referenced around CNY 4,800/ton and downstream refrigerant operating rates remaining relatively moderate. These conditions suggest that the latest decline is more consistent with weak transaction momentum and price competition among suppliers than with a structural supply shock. The lack of positive monthly momentum further distinguishes Trichloroethylene from Dimethyl carbonate, where the monthly trend remains strongly bullish.

Potassium permanganate remained relatively firm despite the latest correction. Potassium permanganate fell 3.13% to CNY 15,500/ton, but it remained 3.23% higher on a weekly basis and broadly unchanged on a monthly basis. Public price data showed mainstream Chinese specifications around CNY 15,500–16,500/ton during September, with the one-year price level classified as relatively high. This suggests that the latest decline is more likely to represent short-term adjustment after recent gains than a significant deterioration in the underlying market. The product's specialized applications in water treatment, chemical synthesis and other industrial processes also mean that demand is less directly tied to a single downstream sector, potentially providing a relatively stable base compared with more cyclical specialty solvents.

Imidazole and Potassium citrate remained comparatively stable, indicating limited broad-based inflation across specialty chemicals. Imidazole increased only 0.78% to CNY 21,667/ton and remained almost unchanged on both weekly and monthly bases. Potassium citrate rose 0.81% to CNY 8,367/ton, but remained down 2.77% week-on-week and 1.30% month-on-month. The relatively small movements in these two products contrast sharply with the extreme volatility seen in Silver iodide, DMSO, Dimethyl carbonate and Trichloroethylene. This divergence reinforces the view that Fine Chemicals pricing is being driven primarily by individual product supply-demand balances, specification differences and order concentration rather than by a common market-wide cost factor.

Overall, the September 14 Fine Chemicals market was characterized by extreme dispersion and highly product-specific price formation. Dimethyl carbonate was the clearest fundamentally supported gainer, rising 3.58% on the day and 33.28% over the month, while DMSO and Trichloroethylene moved sharply lower after periods of stronger pricing. Silver iodide recorded an exceptional 200.67% increase, but its thin market, wide specification spreads and unusually low previous quotation make the percentage change unsuitable as a direct measure of fundamental inflation. Creatine monohydrate also rose sharply, although its almost flat monthly performance suggests that the move has not yet developed into a sustained trend. Meanwhile, Imidazole and Potassium citrate remained broadly stable. The key characteristic of the current Fine Chemicals market is therefore not a unified bullish or bearish direction, but increasingly fragmented price discovery. Products with concentrated supply, specialized applications or limited spot liquidity are showing much greater price elasticity, while more established specialty solvents remain vulnerable to rapid corrections when buyers resist elevated offers. Going forward, supplier operating rates, contract-versus-spot pricing, product specifications, downstream order concentration and inventory levels should be monitored closely, as these factors are likely to explain price movements more effectively than broad commodity-market sentiment.

Energy, plastics and rubber markets remained supported by elevated upstream costs on September 14, although price transmission across downstream products was highly uneven. WTI Crude Oil remained at USD 100/barrel in the reported dataset, up 14.63% month-on-month, while Asphalt and Carbon Black posted particularly strong gains. Asphalt increased 1.83% on the day and 22.42% over the month, reflecting the combined influence of elevated crude-related costs and constrained refinery supply. Meanwhile, Carbon Black surged 8.69% on the day, with weekly and monthly gains reaching 19.63% and 18.89%, supported by tighter coal-tar availability and higher feedstock costs. ABS, by contrast, edged down 0.28% but remained 14.16% higher on a monthly basis, indicating that the plastics market is currently consolidating after a significant cost-driven rally rather than entering a broad bearish phase. Overall, the sector is showing a clear upstream-cost-supportive but downstream-selective pricing structure, with oil-linked and coal-tar-linked products transmitting cost pressure more aggressively than finished polymer products.

WTI Crude Oil remained the central macro cost driver for the Energy and petrochemical complex. WTI was reported at USD 100/barrel on September 14, down 1.96% from the previous session but still 3.09% higher on a weekly basis and 14.63% above its level one month earlier. The short-term decline should therefore be interpreted as a consolidation at elevated levels rather than a fundamental breakdown in the oil market. Recent oil-market developments have been dominated by escalating Middle East tensions, concerns over supply disruptions and risks to shipping through the Strait of Hormuz. Market reports indicated that WTI remained around or above USD 100/barrel on September 14, while Brent traded materially higher, demonstrating that geopolitical supply risk remained embedded in the market. For downstream chemicals, the persistence of crude above the USD 100/barrel threshold is particularly important because it raises the replacement cost of naphtha, aromatics, olefins and other petroleum-linked feedstocks, creating a supportive cost floor even when downstream demand remains uneven.

Asphalt continued to demonstrate one of the clearest examples of upstream energy-cost transmission. Asphalt increased 1.83% to CNY 5,955/ton, extending its weekly gain to 6.21% and its monthly increase to 22.42%. The combination of positive daily, weekly and monthly momentum indicates that the current move is more than a one-day adjustment. Asphalt pricing is highly sensitive to refinery operating rates, crude oil costs and the availability of refinery streams allocated to asphalt production. Recent market assessments have pointed to persistently low asphalt refinery operating rates in China, while elevated crude prices have provided additional cost support. The current market therefore reflects a combination of higher crude replacement costs and relatively constrained domestic refinery supply. Unless crude prices retreat materially or refinery operating rates recover substantially, Asphalt is likely to remain one of the more resilient products in the Energy basket.

Carbon Black was the strongest major industrial product in the reported basket and showed a particularly strong supply-side signal. Carbon Black rose 8.69% to CNY 12,779/ton, bringing its weekly increase to 19.63% and monthly gain to 18.89%. The magnitude and consistency of the increase suggest that the market is experiencing more than simple downstream demand growth. Recent industry reporting identified a shortage of coal-tar supply and rising raw-material costs as major drivers of the sharp increase in Chinese Carbon Black prices. Because coal tar is a critical feedstock for conventional furnace carbon black, restrictions or reductions in coke-oven and coal-chemical output can quickly tighten Carbon Black economics. At the same time, tire production and automotive rubber demand provide an important downstream demand base. The simultaneous combination of tighter feedstock availability, higher input costs and relatively firm tire-related demand makes Carbon Black one of the strongest cost-plus-demand products in the current market. Its 19.63% weekly increase also makes it a key product to monitor for potential further cost pass-through into tire and rubber products.

ABS prices showed a temporary pause rather than a clear reversal. ABS declined marginally by 0.28% to CNY 11,617/ton, but remained 1.40% higher on a weekly basis and 14.16% higher over the month. The negative daily movement therefore needs to be viewed against a much stronger medium-term trend. ABS is exposed to several feedstocks, including Styrene, Acrylonitrile and Butadiene, making its price structure more complex than that of a single-feedstock product. Elevated crude oil prices provide indirect cost support through the petrochemical chain, while supply-demand conditions in the resin market determine how much of this cost can actually be transferred to buyers. The latest data suggest that ABS producers retain a relatively high cost base, but downstream buyers are becoming more resistant to further price increases. This explains why the product can remain significantly higher on a monthly basis while showing limited day-to-day appreciation.

The divergence between ABS and Carbon Black is particularly important for the plastics and rubber complex. ABS gained 14.16% over the month but was almost unchanged on the latest day, whereas Carbon Black gained 18.89% over the month and accelerated to an 8.69% daily increase. This suggests that cost inflation is not being transmitted uniformly across downstream materials. In plastics, higher petrochemical feedstock costs are being partially offset by buyer resistance and inventory management. In rubber, however, the combination of coal-tar tightness and relatively firm tire demand is allowing Carbon Black producers to achieve more aggressive price increases. The current structure therefore favors rubber-related raw materials over finished engineering plastics in terms of short-term pricing power.

Gasoline remained relatively resilient despite the latest small decline. Gasoline declined 0.46% to CNY 10,194/ton, but remained 1.93% higher on a weekly basis and 12.45% higher over the month. The limited daily decline compared with the much stronger monthly gain indicates that the market is consolidating after a substantial increase. The current gasoline market is being influenced by the same geopolitical risk premium affecting crude oil, but retail and wholesale fuel pricing also depends on domestic refining margins, inventories, seasonal consumption and government pricing mechanisms. The divergence between the 14.63% monthly increase in WTI and the 12.45% increase in Gasoline suggests that crude-cost transmission remains strong but is not occurring on a one-for-one basis. If crude prices remain above USD 100/barrel for an extended period, however, gasoline and other refined products should retain a relatively high cost floor.

Anthracite moved sharply lower, highlighting the increasing divergence within the broader energy complex. Anthracite fell 10.00% to CNY 1,575/ton, extending its weekly decline to 5.97% and bringing its monthly change to -1.35%. The magnitude of the one-day decline is particularly notable when compared with the strength of crude oil. However, Anthracite should not be treated as a direct proxy for the global energy market because its pricing is driven primarily by domestic coal supply, transportation, industrial demand and regional inventory conditions. Recent Chinese coal-market reports have indicated that policymakers and market participants were working to increase coal supply and shipments, while individual coal grades continued to show differentiated performance. The latest Anthracite decline therefore appears to represent a domestic coal-specific correction rather than evidence of a broad collapse in energy prices. This distinction is important when comparing coal-linked products with oil-linked chemicals.

Carbon and activated-carbon products remained relatively stable outside the sharp Carbon Black rally. Carbon increased 0.27% to CNY 12,400/ton, with both weekly and monthly changes remaining limited at 0.27% and 1.42%, respectively. The contrast with Carbon Black is significant because the two products are both carbon-based materials but serve different markets and have different supply structures. Carbon Black is closely connected with tire manufacturing, rubber processing and industrial coatings, while activated-carbon-related materials are more closely associated with adsorption, purification and environmental applications. The relatively stable Carbon price therefore reinforces the conclusion that the latest Carbon Black rally is being driven by specific feedstock and rubber-chain conditions rather than by a generalized increase in all carbon-based materials.

Overall, the September 14 Energy, Plastics and Rubber market remained structurally bullish at the upstream level but increasingly selective downstream. WTI Crude Oil remained around USD 100/barrel and continued to carry a significant geopolitical risk premium, while Asphalt showed strong cost transmission with a 22.42% monthly increase. Carbon Black was the standout product, rising 8.69% in one day and 19.63% over the week as coal-tar supply tightened and raw-material costs increased. ABS, despite remaining 14.16% higher on a monthly basis, showed only a marginal daily decline, suggesting that elevated feedstock costs are increasingly being met by downstream purchasing resistance rather than fully passed through. Gasoline remained firm on a monthly basis, while Anthracite moved sharply lower due to its more localized domestic coal-market dynamics. The overall market therefore presents a clear two-speed structure: upstream energy and selected industrial feedstocks remain strongly supported, while downstream polymers are increasingly constrained by demand elasticity and margin pressure. The key indicators to monitor next are WTI and Brent crude, Middle East shipping and supply risks, Chinese refinery operating rates, coal-tar availability, Carbon Black producer inventories, tire-industry operating rates and ABS downstream restocking. A sustained oil price above USD 100/barrel combined with continued coal-tar tightness would provide further upside risk for Asphalt, Carbon Black and other cost-sensitive chemical products, while persistent weak downstream purchasing could limit the ability of ABS and other finished resins to fully absorb the higher feedstock costs.

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