Chemical Prices Today (October 9, 2026): Daily Market Trends & Price Changes

Basic chemicals saw 33 of 71 tracked products move, 25 higher and 8 lower, by far the most one-sided positive balance this series has recorded. Setting aside the mineral-oil artefact, the strongest gains were Formic acid up 5.00% to CNY 2,100/ton, Acetone up 4.41% to CNY 8,738/ton, Propylene glycol up 3.85% to CNY 9,150/ton, Hydrochloric acid up 3.72% to CNY 195/ton, Propylene up 3.14% to CNY 10,291/ton, Dichloromethane up 3.08% to CNY 2,778/ton, Formaldehyde up 2.76% to CNY 1,863/ton, Phenol up 2.46% to CNY 9,355/ton, Methanol up 2.39% to CNY 4,847/ton and Acetic acid up 0.35% to CNY 4,860/ton. Gasoline added 0.91% to CNY 10,111/ton and PET rose 1.14% to CNY 8,942/ton. Declines were limited to Propane down 5.69% to CNY 5,800/ton, Glycerol down 3.06% to CNY 9,500/ton, Ethylene glycol down 2.46% to CNY 6,267/ton and Lithium carbonate down 1.63% to CNY 121,000/ton.

Methanol remained the centre of gravity. Spot added 2.39% to CNY 4,847/ton and now stands 118.69% above the year-earlier level, while the Zhengzhou main contract surged as much as 10% intraday to CNY 3,925/ton before settling 7.48% higher — the widest single-session move of any contract in the market. The physical squeeze has tightened again: port inventory fell 22.47% over the period to 305,100 tonnes, an all-time low, with only 23,500 tonnes of visible foreign cargo discharged, and East China destocked 79,900 tonnes and South China 8,500 tonnes. The path has been relentless — 412,000 tonnes on September 23, roughly 393,500 tonnes in East China by September 30, then 305,100 tonnes after the holiday. Iranian plants remain largely shut, unable to restart on shipping and gas constraints, and winter gas curtailment looms. Industry analysts expect further destocking over the next five weeks, while flagging the two-way risk: domestic operating rates had already recovered above 91% before the holiday, MTO margins are deeply negative with several coastal plants idled, and any sign of Hormuz reopening would release Iranian floating storage. The structure is emphatically "strong nearby, weak deferred".

The propylene chain delivered the broadest gains, which is exactly what a crude shock should produce. Propylene rose 3.14% to CNY 10,291/ton with a 6.01% weekly gain and a 56.20% annual gain, supported by the withdrawal of several northern PDH units for planned maintenance and by Shandong assessments rising CNY 335/tonne in a single session. Acetone jumped 4.41% to CNY 8,738/ton, confirmed by Jiangsu assessments up CNY 125/tonne to CNY 8,650/tonne from cost-push and firm seller discipline, with the annual comparison now 97.92%. Phenol gained 2.46% to CNY 9,355/ton and Propylene glycol rose 3.85% to CNY 9,150/ton, the latter reversing most of yesterday's decline as industrial-grade propylene glycol firmed 0.69% to CNY 9,766.67/tonne. Formaldehyde added 2.76% to CNY 1,863/ton and the broader formaldehyde market ran even harder, with national averages up CNY 140/tonne or 7.71% on methanol cost pass-through, though producers are reporting thin follow-through from a downstream that is resisting the higher numbers. Formic acid gained 5.00% to CNY 2,100/ton, the largest genuine advance in the segment, on a combination of low social inventory, reduced availability as some units took maintenance and firm rigid demand from leather, textile dyeing, feed and rubber applications — although the product remains 28.41% below its year-earlier level.

Chlor-alkali and the aromatics both firmed. Hydrochloric acid rose 3.72% to CNY 195/ton, extending the annual gain to 129.41%, as producers lifted offers into firm demand from water treatment, steel pickling and calcium chloride production. Dichloromethane added 3.08% to CNY 2,778/ton, a second consecutive daily advance that follows the round of Shandong producer increases on October 8 and leaves the product 18.05% higher on the month and 74.34% higher on the year, though the one-year price position is in the top band, which caps further upside. On the aromatics side, the segment-wide benchmark rose 0.80% to CNY 10,501/tonne for benzene, with toluene up 2.03% to CNY 8,883.33/tonne and mixed xylenes up 2.15% to CNY 8,703.33/tonne. Acetic acid edged 0.35% higher to CNY 4,860/ton, holding an 84.09% annual gain on the ongoing turnaround season, and Acetic anhydride at CNY 7,190/tonne remains 70.68% higher year on year. PET rose 1.14% to CNY 8,942/ton, consistent with bottle-grade assessments up 3.37% to CNY 9,050/tonne as PTA jumped 6.74% in spot terms on the crude move.

The declines were confined to the glycol, glycerol and lithium chains and are worth reading as a group. Ethylene glycol fell 2.46% to CNY 6,267/ton and was one of the worst performers on the domestic futures market, down 4.16%, because the supply side is loose where everything else is tight: East China main-port inventory rose 15,000 tonnes to 101,000 tonnes, a 17.44% increase, capacity utilisation stands at 64.51%, and the polyester chain operates at 72.75% with filament sales ratios collapsing from 289.80% to 24.60% after the holiday stocking burst. Expectations of continued loose domestic supply make the near-term direction lower, with East China spot self-pickup assessed at CNY 6,100–6,200/ton. Lithium carbonate fell 1.63% to CNY 121,000/ton, tracking a 3.74% drop in the futures contract as the post-holiday restocking impulse faded, although the battery-grade benchmark still shows a 65.26% annual gain and both battery-grade lithium hydroxide and industrial-grade material retreated in parallel. Propane and Glycerol are discussed above. Meanwhile Copper sulfate and Sodium dodecyl sulfate both held flat at CNY 25,767/ton and CNY 14,850/ton respectively, confirming that yesterday's corrections have settled.

A large number of high-volume basics were unchanged. Ethylene Oxide held at CNY 9,700/ton with a 53.97% annual gain, Aniline at CNY 14,900/tonne with a 92.26% annual gain, Epichlorohydrin at CNY 11,200/ton, Titanium dioxide at CNY 14,220/ton with a 2.60% annual gain, White phosphorus at CNY 27,766/ton, EVA at CNY 11,033/ton, sulfuric acid at CNY 1,710/ton, soda ash at CNY 1,050/ton, Caustic soda at CNY 635/ton, Ethanol at CNY 5,606/ton, phosphoric acid at CNY 8,375/ton, Ammonium sulfate at CNY 1,300/ton and calcium carbide at CNY 2,580/ton. The most important of these is calcium carbide, which held after yesterday's 6.18% decline and was confirmed flat at the industry benchmark level of CNY 2,580/tonne with the annual comparison still positive at 0.86%, suggesting the carbide correction has found a floor even as PVC producers remain loss-making. Sulfur eased only 0.14% to CNY 7,392/ton after yesterday's 3.90% drop. Overall, Basic Chemicals has moved into a clear cost-push regime driven by methanol and crude, with the exceptions being the glycol and lithium chains where supply is structurally long.

Fine Chemicals were again the quietest segment but for once the moves were genuine rather than reference events. Only 4 of 47 products moved, 3 higher and 1 lower. Trichloroethylene rose 5.44% to CNY 4,613/ton, a second consecutive daily advance that recovers most of the ground lost on September 29 and leaves the product 8.22% higher on the month despite a 1.23% weekly decline. Sodium acetate added 2.60% to CNY 5,643/ton with a 0.62% weekly gain, Potassium Citrate rose 1.74% to CNY 8,750/ton with a 0.87% weekly gain, and Tetrahydrofuran fell 2.56% to CNY 19,000/ton — the sole decliner, but a level that is 5.54% higher on the week and 13.38% higher on the month, marking a clear upward re-rating from the CNY 17,000–17,250/ton band the product occupied through late September. The three lines added back to tracking this edition — Palladium, Silver iodide and Strontium oxide — along with returning specialities such as azelaic acid, Benzyl alcohol, Lauric acid and Sodium alginate, all opened flat, so their first readings should be treated as indicative only.

The correction stories that dominated yesterday have now fully settled. Cyanuric acid held at CNY 7,650/ton and is now 0.89% higher on the week and 4.73% higher on the month, confirming that the October 8 decline was the reference normalising rather than the start of a downtrend; actual Chinese 98.5% offers still cluster between CNY 5,100 and CNY 8,500/tonne, so the tracked level sits at the top of the real range. Potassium sorbate held at CNY 15,100/ton with weekly and monthly gains of 11.73% and 16.28%, and Dimethyl sulfoxide held at CNY 10,850/ton with weekly and monthly gains of 2.08% and 5.18%. dimethyl carbonate was unchanged at CNY 6,167/ton, but the underlying market is tightening again: industry-grade material was raised to CNY 5,600/tonne, up CNY 260/tonne or 4.87%, on the strength of the methanol feedstock rally, and further increases are expected. Melamine held at CNY 6,325/ton with a 13.96% annual gain, supported by firm urea and coal costs but capped by modest laminate and resin demand.

Everything else in the segment was untouched. Citric acid held at CNY 6,200/ton, Lactic acid at CNY 8,163/ton, Hydroquinone at CNY 30,500/ton, Oleic acid at CNY 10,000/ton, glycolic acid at CNY 13,000/ton, Ferric chloride at CNY 2,808/ton, Sodium hypochlorite at CNY 553/ton, Water softener salt at CNY 967/ton, Mannitol at CNY 18,000/ton, Stearic acid at CNY 28,000/ton, Sodium polyacrylate at CNY 18,000/ton, Xanthan gum at CNY 21,000/ton, Guar gum at CNY 15,500/ton, Castor oil at CNY 14,500/ton, Quartz at CNY 6,800/ton, Cocamidopropyl betaine at CNY 6,000/ton, Activated carbon at CNY 4,200/ton and Melatonin at CNY 850/kg. Magnesium glycinate at CNY 29,000/ton, Creatine monohydrate at CNY 20,980/ton, Imidazole at CNY 21,750/ton and Sodium metabisulfite at CNY 3,910/ton were likewise flat. Three lines left the basket this edition — calcium chloride, ferrous sulfate and Retinol.

The practical read for fine chemicals buyers is that this segment has now normalised. After two sessions in which the headline numbers were driven by reference resets, October 9 produced four small, credible moves and 43 unchanged lines. The one product where timing matters is dimethyl carbonate, unchanged in the tracked table but firming hard in the spot market on methanol cost pass-through; the one where a trend has genuinely reversed is Tetrahydrofuran, which has re-rated 13.38% higher over the month. For the rest, contract pricing is holding and there is no urgency to move.

Energy, Rubber, Plastic and other chemicals saw 10 of 16 products move, 8 higher and 2 lower, and the segment produced the cleanest expression of the session's theme. Anthracite recovered 4.76% to CNY 1,650/ton, WTI Crude Oil rose 3.41% to USD 91/barrel, ABS gained 1.88% to CNY 11,733/ton, HDPE added 1.67% to CNY 10,663/ton, PVC rose 1.46% to CNY 4,870/ton, Gasoline added 0.91% to CNY 10,111/ton and Carbon edged up 0.26% to CNY 12,500/ton, while Asphalt eased 0.71% to CNY 6,265/ton. Carbon Black at CNY 11,693/ton, Silica at CNY 6,400/ton, kerosene at CNY 8,200/ton, EAA at CNY 57,800/ton, POE at CNY 16,500/ton, Poly(vinyl acetate) at CNY 12/kg, Basalt at CNY 650/ton and anaerobic bacteria at CNY 50/kg were all unchanged.

WTI Crude Oil was marked at USD 91/barrel, up 3.41%, against a settlement of USD 91.49 on October 8 — a USD 3.21 or 3.64% advance — with December Brent up USD 4.08 or 4.07% to USD 104.28. The catalyst was not a fading of risk but a re-pricing of it. President Trump stated publicly that the United States would not strike Iran before the November 3 midterm elections and described ongoing consultations as productive, and Iran's foreign minister confirmed indirect talks were continuing through mediators; yet the same day brought a fresh United States sanctions round covering vessels carrying Iranian crude, further tanker attacks in the Strait of Hormuz, and hurricane-driven shut-ins of Gulf of Mexico offshore production. Industry analysts see Brent holding a USD 102–106 range on the upside case and USD 89–93 for WTI, with the key dates being the October 10 CFTC positioning report and the October 14 EIA production assessment. Gasoline added 0.91% to CNY 10,111/ton, keeping weekly loss to 0.98% and the monthly gain at 1.80%, consistent with firm energy-sector equities and the 2.47% rise in MTBE to CNY 8,300/tonne.

The plastic chain delivered a broad, cost-driven advance. ABS rose 1.88% to CNY 11,733/ton, in line with the 1.88% move in Yuyao ABS 0215A to CNY 11,733.33/tonne, and now shows weekly and monthly gains of 1.36% and 1.25% with a 19.12% annual advance; styrene was flat at CNY 11,520/tonne after Tuesday's 8.58% spike, so the cost impulse is holding rather than building. HDPE added 1.67% to CNY 10,663/ton, matching the segment benchmark's move to CNY 10,662.50/tonne and a 35.40% annual gain. PVC rose 1.46% to CNY 4,870/ton, within reach of the CNY 4,880/tonne benchmark and with a 1.59% weekly gain; supply remains low with upstream operating rates around 64%, and although carbide costs continue to fall, ethylene-based producers are deeply loss-making on the crude move, so the floor is holding. Notably the whole plastics complex was up on the day — LDPE 2.47%, LLDPE 2.09%, polypropylene raffia 1.77%, PC 1.36% and PET 1.14% — a uniformity that points squarely to cost pass-through rather than product-specific demand. Anthracite recovered 4.76% to CNY 1,650/ton, unwinding most of Thursday's anomalous 10.00% fall and returning to the level held through early October, with weekly and monthly changes of minus 0.58% and plus 1.48% confirming the coal complex is range-bound rather than trending.

Overall, the Energy, Rubber, Plastic and other chemicals segment confirms that this is a cost-push rally with a geopolitical trigger, not a demand-led recovery. Crude, naphtha at CNY 9,678/tonne after a single-day 3.36% rise, propylene, methanol and PTA are all transmitting upward through the chain, and the polymers, aromatics and acetate derivatives are following. The counterweights are equally clear: carbide and coking coal are falling, ethylene is down 2.67% to CNY 9,100/tonne in outright contradiction of the rest of the complex, ethylene glycol is long, downstream converters are reporting resistance to high prices and have cut loads to avoid losses, and coastal MTO margins are deeply negative. With crude's next move hinging on whether Hormuz reopens or a deal is struck before the midterms, and with Chinese downstream demand showing "post-holiday restocking followed by price resistance", the balance of risk into the coming week is high prices that hold only as long as the geopolitical premium does.