Chemical Prices Today (September 15, 2026): Daily Market Trends & Price Changes

Basic chemicals remained structurally firm on September 15, but price movements showed increasing divergence across individual value chains. The strongest gains were concentrated in Ethyl acetate, Hydrogen peroxide, Propylene glycol, Acetic anhydride, Acetone, and Methanol, while several aromatics and battery-related materials moved lower. Ethyl acetate surged 9.04% to CNY 6,707/ton, representing the largest daily increase among the major chemical products tracked, while Hydrogen peroxide rose 6.79% to CNY 723/ton and Propylene glycol gained 3.66% to CNY 10,400/ton. At the same time, Benzene, Toluene and Xylene declined 0.34%, 0.79% and 0.57%, respectively, despite remaining substantially higher on a monthly basis. Lithium carbonate also weakened by 2.24% to CNY 131,000/ton, extending its monthly decline to 3.24%. Overall, the market is increasingly characterized by supply-side tightness in selected chemical chains rather than a broad-based improvement in downstream demand, with high accumulated monthly gains beginning to create stronger resistance to further price increases in some products.

The Acetic acid–Acetic anhydride–Ethyl acetate chain remained one of the strongest segments of the Basic Chemicals market. Acetic acid increased 0.84% to CNY 4,097/ton, while Acetic anhydride rose 2.73% to CNY 6,588/ton. Ethyl acetate recorded a much sharper move, climbing 9.04% to CNY 6,707/ton. The simultaneous increase across the three products indicates that the strength of the acetyl chain is still being transmitted from upstream feedstock into downstream derivatives. Market information shows that several major domestic Acetic acid producers raised their quotations on September 15, while regional markets continued to move higher. For Acetic anhydride, upstream Acetic acid remained the key cost support, with recent producer price increases and a relatively firm supply environment keeping sellers resistant to discounts. Ethyl acetate was even stronger, with multiple producers including Zhuhai Qianxin, Jingmen Qianxin and Taixing Jinjiang raising prices during September 15. Market assessments also indicate that September increases have been driven by sustained high Acetic acid prices and a stronger supplier stance, although high absolute price levels are beginning to constrain the upside potential. The current structure therefore reflects a combination of upstream cost transmission, selective supply tightness and precautionary downstream procurement, rather than a broad acceleration in final consumption.

Acetone continued to outperform Phenol within the phenol-ketone chain. Acetone rose 2.06% to CNY 9,250/ton, taking its monthly gain to 24.47%, while Phenol increased only 0.55% to CNY 9,125/ton, with a much more modest monthly increase of 5.95%. The divergence is notable because the two products are closely linked through the phenol-ketone production chain. The stronger performance of Acetone suggests that near-term availability and solvent demand are providing stronger support than the Phenol market is receiving from its downstream sectors. After the sharp rally in Acetone over recent weeks, the product is now trading at a substantially elevated level, increasing the importance of downstream margin absorption. The 24.47% monthly increase in Acetone is therefore a key indicator of accumulated cost and supply pressure within the solvent chain, but also raises the risk that further price increases could trigger greater resistance from downstream buyers.

The aromatics complex entered a short-term consolidation phase after a strong monthly rally. Benzene declined 0.34% to CNY 9,601/ton, Toluene fell 0.79% to CNY 8,450/ton, and Xylene decreased 0.57% to CNY 8,750/ton. However, their monthly gains remained substantial at 17.51%, 18.75% and 20.72%, respectively. This combination of daily declines and large monthly gains suggests that the latest weakness is more consistent with short-term profit-taking and resistance at elevated price levels than with a complete reversal of the broader trend. The relative weakness of Toluene and Xylene compared with their upstream cumulative gains also indicates that downstream buyers are becoming more price-sensitive. The key question for the aromatics chain is therefore shifting from cost support to demand absorption: with prices already significantly above one month earlier, further gains will increasingly require evidence of continued supply tightness or stronger derivative demand.

Methanol remained one of the strongest upstream chemicals in the current market. Methanol increased 1.00% to CNY 3,820/ton, extending its weekly gain to 4.42% and its monthly increase to 28.15%, the strongest monthly performance among the major products in the current dataset. Recent market assessments point to a combination of low inventories, regional supply constraints and disruptions affecting imported material. Domestic methanol production remained relatively stable, but inventories in key ports declined materially, while some domestic plants remained under maintenance. At the same time, downstream demand has not strengthened uniformly: some MTO and other chemical units have reduced operating rates, creating a negative demand feedback. The current price structure is therefore increasingly dependent on physical availability and inventory rather than broad-based demand expansion. This distinction is important because sustained high prices could eventually encourage additional domestic production and reduce downstream operating rates, limiting the room for further upside.

Ethylene glycol and PET remained firm, but their daily price momentum was relatively moderate. Ethylene glycol increased 0.64% to CNY 6,617/ton, with its monthly gain reaching 21.77%, while PET edged up 0.13% to CNY 8,662/ton and remained 10.03% higher on a monthly basis. The relatively small daily changes compared with their substantial monthly gains indicate that these markets are moving into a higher-price consolidation phase. For Ethylene glycol, the accumulated increase is already significant enough to put pressure on downstream polyester margins, meaning that additional price gains increasingly require either tighter availability or stronger polyester operating rates. PET's smaller daily movement also suggests that downstream demand has not accelerated at the same pace as the upstream cost increase. The chain therefore remains fundamentally supported, but its ability to extend the rally will increasingly depend on demand rather than cost factors alone.

Hydrogen peroxide was one of the most notable supply-side movers. Hydrogen peroxide increased 6.79% to CNY 723/ton, extending its weekly and monthly gains to 5.58% and 8.99%, respectively. Recent producer updates indicate that some domestic plants remain subject to maintenance or planned shutdowns, while several producers have maintained relatively firm quotations. The combination of limited incremental supply and stable downstream industrial demand has therefore provided stronger support to spot prices. Unlike the aromatics complex, where prices have already accumulated large monthly gains, Hydrogen peroxide has experienced a more moderate monthly increase, suggesting that its latest daily movement is more directly related to short-term supply conditions. Further price strength will depend on whether maintenance-related supply constraints persist and whether downstream buyers continue to replenish inventories.

Propylene and Propylene glycol also strengthened, with the downstream derivative outperforming the upstream feedstock. Propylene rose 1.49% to CNY 9,761/ton, although it remained 0.72% lower on a weekly basis. Propylene glycol, by contrast, climbed 3.66% to CNY 10,400/ton, taking its weekly and monthly gains to 5.71% and 3.01%. The divergence indicates that the latest strength in Propylene glycol cannot be explained solely by the movement of Propylene. Product-specific supply-demand conditions and downstream procurement are likely playing a greater role. The relatively weak weekly performance of Propylene also suggests that upstream cost transmission remains incomplete, while the stronger movement in Propylene glycol points to tighter conditions further down the value chain.

Lithium carbonate remained under pressure and continued to diverge from the broader chemical market. Lithium carbonate fell 2.24% to CNY 131,000/ton, extending its weekly decline to 4.68% and its monthly decline to 3.24%. Recent market analysis attributes the weakness to a combination of revised inventory data, concerns over near-term demand, lower September production schedules for some cathode materials, and expectations for increased lithium concentrate arrivals. On September 15, the main lithium carbonate futures contract again traded below CNY 130,000/ton. At the same time, spot-market fundamentals have not completely deteriorated: some assessments continue to characterize the physical market as relatively tight, while inventories had declined previously. This creates a two-sided market in which near-term sentiment and additional supply expectations are pushing prices lower, while physical demand and inventory conditions provide a partial floor. Lithium carbonate is therefore currently behaving more like a supply-expectation-driven battery material than a conventional cost-push chemical.

Cobalt and Nickel remained comparatively weak, reinforcing the divergence within battery-related materials. Cobalt rebounded 2.00% to CNY 285,800/ton on the day, but remained 3.38% lower on a weekly basis and 8.01% lower over the month. Nickel declined another 0.85% to CNY 125,200/ton, leaving it 1.83% lower week-on-week and 1.31% lower month-on-month. The contrasting daily rebound in Cobalt against its negative weekly and monthly performance suggests that the latest movement is more consistent with short-term stabilization than a confirmed change in the broader trend. Compared with the strong performance of Methanol, Acetone, Ethylene glycol and the Acetyl chain, battery-related metals are therefore showing much weaker price momentum, highlighting the increasingly product-specific nature of the Basic Chemicals market.

Ammonium sulfate, Urea, Phosphoric Acid and Potassium nitrate remained relatively subdued. Ammonium sulfate increased 1.17% to CNY 1,207/ton but was still slightly lower on a weekly basis, while Urea edged up only 0.17% to CNY 1,803/ton. Phosphoric Acid declined 0.60% to CNY 8,325/ton and remained 2.29% lower on a monthly basis, while Potassium nitrate fell 0.80% and was 4.42% lower over the month. The relatively weak performance of these products compared with solvents and petrochemical intermediates indicates that the current Basic Chemicals rally is not broad-based across all industrial chemical categories. Fertilizer-related products continue to be governed more by their individual agricultural demand cycles, inventories and feedstock economics than by the strong momentum seen in selected petrochemical chains.

One data point requires special caution: Mineral oil. The dataset shows Mineral oil falling from CNY 72,000/ton to CNY 40,750/ton, equivalent to a 43.40% daily decline. However, publicly available domestic quotations for common industrial white-oil grades around the same period were generally in the CNY 6,000–8,500/ton range, while the CNY 72,000/ton quotation appears to be associated with a specific specification or anomalous listing rather than a representative market average. Consequently, the 43.40% decline should not be interpreted as a genuine collapse in the Chinese Mineral oil market without first confirming the product specification, grade, supplier and pricing methodology. This item is best treated as a potential data-quality or quotation-basis anomaly and excluded from the broader Basic Chemicals market direction assessment.

Overall, the September 15 Basic Chemicals market remained firm, but the internal structure became increasingly differentiated. The clearest strength was concentrated in the Acetic acid–Acetic anhydride–Ethyl acetate chain, where upstream price increases continued to transmit downstream and Ethyl acetate recorded a particularly sharp 9.04% daily increase. Acetone and Methanol also remained structurally strong, with monthly gains of 24.47% and 28.15%, respectively. Hydrogen peroxide and Propylene glycol recorded notable short-term gains, reflecting more product-specific supply and demand conditions. By contrast, the Benzene–Toluene–Xylene complex experienced modest daily corrections after substantial monthly increases, suggesting growing resistance at elevated price levels. Lithium carbonate, Cobalt and Nickel continued to diverge from the broader petrochemical complex as supply expectations and battery-material demand became the dominant drivers. Looking ahead, the key issue for Basic Chemicals is whether the current cost and supply-driven price strength can continue to be absorbed by downstream industries. Products with strong spot tightness and limited near-term supply may retain upward momentum, while products that have already accumulated 15–30% monthly gains are increasingly vulnerable to demand resistance, margin compression and short-term consolidation.

Fine chemicals showed a highly differentiated market structure on September 15, with the three tracked products moving under distinctly different supply-demand conditions. Dimethyl sulfoxide (DMSO) recorded the strongest move, surging 12.44% day-on-day to CNY 12,200/ton, while its monthly increase remained limited to only 1.12%, indicating a sharp short-term repricing rather than a prolonged demand-driven rally. Melamine remained almost unchanged at CNY 6,263/ton, up only 0.21% on the day and 0.03% over the month, reflecting a largely balanced but subdued market. PTMEG increased 0.98% to CNY 17,167/ton, but remained 8.18% lower on a monthly basis, suggesting that the latest gain represents an early stabilization after a prolonged correction rather than a confirmed trend reversal. Overall, the Fine Chemicals segment is currently characterized by product-specific supply conditions and uneven downstream demand, with DMSO showing the strongest short-term price momentum, Melamine remaining range-bound, and PTMEG attempting to stabilize after significant monthly losses.

Dimethyl sulfoxide (DMSO) was the clear outperformer within the Fine Chemicals group. The price jumped from CNY 10,850/ton to CNY 12,200/ton, equivalent to a 12.44% daily increase and a CNY 1,350/ton absolute gain. The magnitude of the one-day move is particularly significant because the product was only 1.12% higher on a monthly basis before the latest increase. This means that the current movement should not yet be interpreted as a sustained structural bull market. Instead, the pattern is more consistent with a rapid adjustment in spot quotations, supplier pricing, or the availability of specific grades. Public market quotations also show substantial differentiation among DMSO grades and specifications in Shandong, with 99.9% national-standard products and higher-purity or specialty specifications trading at significantly different levels. The sharp increase in the benchmark price therefore appears to reflect a rapid tightening or repricing of the spot market rather than a broad-based increase in end-user demand alone. The key indicator for the next few sessions will be whether suppliers continue to raise offers after the initial adjustment and whether downstream pharmaceutical, electronic and industrial solvent buyers accept the higher replacement cost.

The structure of the DMSO market also suggests that price differentiation by grade and specification is becoming increasingly important. Recent Chinese market quotations show a relatively wide range between standard industrial material, 99.9% products, pesticide-grade products and higher-purity packaged material. This means that a single benchmark price can move sharply when the traded mix shifts toward tighter or higher-value specifications. Consequently, the 12.44% daily increase should be monitored together with actual transaction volumes, producer quotations and spot availability. If subsequent market data show that standard-grade quotations remain above CNY 12,000/ton while high-purity grades continue to command significant premiums, the latest movement would provide stronger evidence of a genuine upward shift in the DMSO market. If prices quickly retreat after the initial adjustment, the move would instead be more consistent with a temporary quotation correction.

Melamine remained essentially range-bound, showing little evidence of a new directional trend. The price increased only 0.21% to CNY 6,263/ton, while its weekly and monthly changes were just 0.29% and 0.03%, respectively. Recent Chinese market assessments describe Melamine as operating in a weak-to-stable environment, with weekly price adjustments generally limited to around CNY 50–100/ton. Market quotations for East China 99.8% industrial-grade Melamine have also remained close to CNY 6,250/ton during mid-September. This confirms that the latest 0.21% increase is better interpreted as a marginal price adjustment than a meaningful market reversal. The major constraint remains downstream demand and the market's ability to absorb existing production capacity, while upstream Urea costs provide some support but have not been sufficient to generate sustained price increases.

The Melamine market is also being constrained by the weak transmission of upstream costs into downstream pricing. Although Urea remains an important feedstock and cost reference, producers cannot necessarily pass every increase through to Melamine buyers when downstream procurement remains cautious. The result is a relatively narrow trading range, with producers balancing operating economics against the risk of accumulating inventories. For the Fine Chemicals segment, Melamine therefore represents a clear example of cost support being offset by weak demand elasticity. Unless downstream construction, furniture, laminates and related formaldehyde-resin applications generate stronger procurement, the market is likely to remain more stable than the sharper movements seen in DMSO and PTMEG.

PTMEG showed an early stabilization signal after a prolonged correction. The price increased 0.98% to CNY 17,167/ton on September 15, but remained 8.18% lower on a monthly basis. The contrast between the daily rebound and the large monthly decline is important: the current movement does not yet indicate a confirmed recovery, but it does suggest that the market may be approaching a point where lower prices begin to attract buying interest and supplier inventories become more manageable. Recent market information shows that PTMEG, BDO and THF markets were actively monitored on September 15, with multiple PTMEG producers publishing plant operating updates. The BDO market was also described as being supported by firmer raw-material costs and relatively tight supply, while downstream demand remained only moderate and limited the ability to pass higher costs through the chain. PTMEG is therefore being supported primarily by the upstream BDO/THF cost structure and supply-side expectations, while downstream spandex demand remains the key constraint.

The PTMEG value chain is currently showing an important tension between stronger upstream costs and relatively weak downstream price acceptance. BDO market commentary on September 15 pointed to firmer raw-material prices and tighter supply as positive factors, while also noting that end-user demand remained ordinary and that high prices were not being transmitted smoothly through the chain. This creates a ceiling for PTMEG prices even when producers face higher replacement costs. The recent 0.98% rebound should therefore be monitored alongside BDO prices, THF availability, PTMEG plant operating rates and spandex production. A sustained increase in PTMEG would require more than upstream cost support; it would also require evidence that downstream spandex manufacturers are willing to replenish inventories at higher prices.

The three products therefore represent three different stages of the current Fine Chemicals cycle. DMSO is experiencing a sharp short-term repricing, with supply availability and grade-specific quotation differences likely more important than broad end-user demand. Melamine remains largely range-bound because upstream cost support is being offset by weak downstream demand and ample production capacity. PTMEG, meanwhile, is attempting to stabilize after an extended decline, with tighter upstream BDO/THF conditions providing a stronger cost floor but downstream spandex demand limiting the pace of recovery. This divergence means that the Fine Chemicals market should not be characterized as uniformly bullish or bearish. Instead, the current market is increasingly segmented into supply-tight products, range-bound products and post-correction products.

Overall, Fine Chemicals remained structurally mixed on September 15, with DMSO providing the strongest upside signal but PTMEG offering the more meaningful medium-term stabilization story. DMSO's 12.44% daily jump requires confirmation because its monthly gain remained only 1.12%, whereas PTMEG's 0.98% daily increase occurred after an 8.18% monthly decline and therefore carries a different interpretation. Melamine remained almost unchanged, confirming that its market has yet to develop a strong directional catalyst. In the near term, DMSO spot availability and producer quotations, Melamine operating rates and downstream resin demand, and PTMEG/BDO supply conditions together with spandex operating rates should be the primary indicators for assessing the next phase of the Fine Chemicals market. The current data suggest that supply-side developments will remain more important than broad-based demand growth in determining price direction.

Energy and Plastics showed clearly different market structures on September 15. The Energy segment remained firmly supported by the continued rise in crude oil and refined-product costs, with WTI crude increasing to USD 101/barrel in the tracked dataset, while Asphalt and Gasoline rose 0.50% and 0.59% respectively. Their monthly gains of 23.18% and 12.72% indicate that the recent energy-price rally has already been transmitted into downstream petroleum products. By contrast, the Plastics segment entered a short-term consolidation phase after a strong monthly recovery: ABS declined 0.29% and HDPE declined 0.68% on the day, although both remained higher on a monthly basis at 14.36% and 4.15%, respectively. The overall picture is therefore one of strong upstream energy inflation combined with increasing downstream resistance in polymer markets.

WTI crude oil remained the central upstream indicator for the Energy complex. The tracked price increased from USD 100 to USD 101/barrel, bringing the weekly increase to 4.12% and the monthly increase to 15.85%. Independent market reports for September 15 showed an even stronger international crude benchmark, with WTI settling around USD 105.83/barrel after a sharp daily increase, driven by disruptions to Saudi oil infrastructure, shipping risks around the Red Sea and continued concerns surrounding Middle Eastern supply routes. The difference between the user's USD 101 benchmark and the international settlement level indicates a possible difference in pricing time, contract or data source, but both datasets point to the same underlying direction: the crude market remained in a supply-risk-driven uptrend. For the Energy section, the most important issue is therefore no longer simply whether crude prices are rising, but how rapidly the higher crude replacement cost is being transmitted into refined products and industrial energy derivatives.

Gasoline continued to reflect the strong crude-cost environment. The price increased 0.59% to CNY 10,254/ton, with weekly and monthly gains of 2.23% and 12.72%, respectively. Compared with WTI, Gasoline is showing a more moderate short-term increase, suggesting that the crude rally is being partially absorbed by refining margins, inventory management and downstream fuel demand rather than being transferred one-for-one into gasoline prices. China's refinery system is also facing a changing supply balance: recent data indicate that refinery processing has exceeded available crude supply, requiring withdrawals from domestic crude inventories, while refined-product exports are recovering. This combination can support gasoline prices through tighter crude availability and firm export economics, but it can also limit the ability of refiners to fully pass higher crude costs to domestic consumers.

Asphalt was one of the strongest Energy products in the monthly comparison. The price increased to CNY 5,985/ton, up 0.50% on the day, 6.47% over the week and 23.18% over the month. The much stronger monthly performance relative to the daily move suggests that Asphalt has already undergone a substantial repricing during the recent energy rally. Asphalt is particularly sensitive not only to crude oil but also to refinery configuration, refining margins, available residual streams and infrastructure-related demand. Therefore, its 23.18% monthly increase should not be interpreted as a simple pass-through from WTI. The current strength reflects a combination of higher crude-related replacement costs and tighter economics around refinery-derived heavy products. After such a large monthly increase, however, the market becomes increasingly sensitive to infrastructure demand and refinery operating decisions; further crude increases may provide support, but the marginal upside could become more dependent on actual downstream Asphalt consumption.

ABS showed an important divergence between its daily and monthly performance. The benchmark price declined 0.29% to CNY 11,583/ton on September 15, but remained 1.25% higher over the week and 14.36% higher over the month. This pattern indicates that the ABS market is entering a consolidation stage after a substantial recovery. Importantly, individual ABS grades in the Chinese market showed significant price increases on September 15, with several imported and domestic grades recording much stronger gains than the benchmark average. This means that the -0.29% movement in the aggregated dataset should not be interpreted as a broad collapse in ABS prices. Instead, the market appears to be experiencing significant differentiation among grades, suppliers and transaction channels.

The ABS market is currently being influenced by the interaction between higher feedstock costs and limited downstream price acceptance. ABS production economics are closely linked to Styrene, Acrylonitrile and Butadiene, while downstream consumption is concentrated in automotive components, electrical and electronic products, appliances and consumer goods. Recent market data show that some ABS grades were still being repriced upward despite the aggregate benchmark declining, suggesting that supplier cost pressure remains significant. At the same time, the earlier 2026 correction in the domestic ABS market was associated with weak appliance demand and a significant supply-demand imbalance. The current 14.36% monthly increase should therefore be viewed primarily as a strong price recovery from a lower base, rather than definitive evidence of a broad-based end-user demand boom. The next stage of the market will depend on whether downstream buyers continue replenishing at higher prices or begin to resist further increases.

HDPE displayed a similar but less aggressive consolidation pattern. The price declined 0.68% to CNY 11,025/ton on September 15, while remaining 0.38% higher on a weekly basis and 4.15% higher over the month. Compared with ABS, the smaller monthly increase suggests that HDPE has experienced less severe repricing. The current daily decline is therefore better interpreted as a short-term correction within an otherwise relatively firm market rather than a confirmed downward trend. For HDPE, the balance between polyethylene feedstock costs, domestic supply, inventory levels and packaging-related demand is becoming more important as the price level rises. Higher crude and upstream olefin costs provide a cost floor, but the relatively modest monthly increase also indicates that downstream buyers have not yet generated the same degree of price acceleration seen in the Energy complex.

The contrast between ABS and HDPE is particularly useful for understanding the current Plastics market. ABS has gained 14.36% over the month, while HDPE has risen only 4.15%, even though both are exposed to the broader increase in hydrocarbon-based feedstock costs. This divergence indicates that product-specific supply-demand factors are becoming more important than crude oil alone. ABS is more exposed to the cost and availability of Styrene, Acrylonitrile and Butadiene and to differentiated specialty grades, whereas HDPE is more directly connected to the polyethylene supply cycle and packaging demand. The current Plastics market is therefore not experiencing a uniform cost-push rally; rather, individual polymer chains are showing different degrees of cost transmission and downstream acceptance.

From a value-chain perspective, the September 15 data show a relatively clear upstream-to-downstream transmission sequence: WTI crude increased 15.85% over the month, Asphalt increased 23.18%, Gasoline increased 12.72%, ABS increased 14.36%, while HDPE increased only 4.15%. The differences demonstrate that higher crude costs are being transmitted strongly into Energy products, but polymer markets are absorbing part of the increase through margins, inventory adjustments and downstream demand resistance. Asphalt currently shows the strongest monthly pass-through, while HDPE shows the weakest among the tracked products. ABS sits between the two but has a much more differentiated market structure because of its multiple feedstocks and wide range of grades.

Overall, the Energy market remained in a strong upward phase, while Plastics shifted toward consolidation after a substantial monthly recovery. WTI, Gasoline and Asphalt all remained higher on both weekly and monthly horizons, with Asphalt showing the strongest cumulative increase. In Plastics, both ABS and HDPE corrected on September 15 despite maintaining positive weekly and monthly performance, indicating increasing resistance at higher price levels. The key market risk is therefore a widening gap between upstream energy inflation and downstream polymer demand elasticity. If crude prices remain elevated, polymer producers will continue to face cost pressure; however, if end-user demand does not strengthen sufficiently, higher feedstock costs may increasingly be absorbed through lower margins rather than fully passed through to polymer prices. For the next trading sessions, the most important indicators are crude oil supply disruptions and refinery economics for Energy, while ABS grade-level quotations, polyethylene inventories, downstream operating rates and feedstock costs should be monitored for Plastics.

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