This week, the mixed xylene market saw a slight increase, with a benchmark price of 6151 yuan/ton on June 19, 2026, falling to 5901 yuan/ton on June 26, a 4.06% decrease during the cycle.

This week, the domestic mixed xylene market continued its deep weak downward trend, with a significant downward shift in market focus and a sluggish trading atmosphere. The overall market is in a weak adjustment trend. Affected by the continuous weakening of the cost side, loose pressure on the supply side, and weak demand side during the off-season, the market has no upward momentum in the long short game, and the overall operation is under significant pressure.
Cost aspect: Weakening of crude oil volatility and insufficient support
This week, the overall international crude oil market showed a volatile downward trend, with only a few trading days experiencing a slight rebound due to factors such as geopolitical situations. The overall volatility was weak, and the cost support for the xylene market remained weak. The aromatic hydrocarbon futures market fluctuates synchronously with the crude oil trend, mostly running short, making it difficult to boost confidence in the spot market. During the week, crude oil prices fell below key levels multiple times, leading to a decrease in overall raw material costs in the market. Petrochemical companies continued to lower their quotes, further lowering the central spot prices in the market. At the end of the month, crude oil closed slightly higher and aromatics were stronger in the evening session, but it could only briefly boost market sentiment and could not reverse the weak cost side pattern, resulting in insufficient overall bottoming out effect. On June 25th, the settlement price of WTI crude oil futures in the United States was $71.92 per barrel, and the settlement price of Brent crude oil futures for the September contract was $75.50 per barrel.
Supply side:
Domestic refineries have maintained stable operation, with a relatively small number of mixed xylene unit maintenance enterprises this week. Mainstream production enterprises are running smoothly, and the market circulation of goods continues to be abundant. The main production areas such as East China, South China, and North China have sufficient supply of goods, and the flow of goods between regions is smooth without obvious supply shortages. The pace of local refining and shipping is stable, and the overall circulating inventory in the market is at a reasonably high level. The pressure of port inventory is controllable, but due to weak terminal demand, the pace of inventory digestion continues to slow down, which has a hidden suppression on spot prices. At the same time, the activity of export negotiations is low, the willingness to purchase in the international market is weak, and the flow of goods through export channels is not smooth, making it difficult to effectively divert surplus domestic sources of goods, further exacerbating the loose supply pattern in the domestic market and continuing to suppress the rebound space of the market.
Demand side:
This week, the industry is in a traditional off-season for consumption, and the overall downstream demand release pace is slow. There is a strong wait-and-see sentiment in the market, and the market as a whole maintains a rigid demand and on-demand delivery model. The operating rate of the terminal industry remains low, the overall downstream order follow-up is insufficient, and there is a lack of support for bulk procurement. Most small and medium-sized enterprises maintain a low inventory operation strategy. After the continuous decline in market prices in the early stage, although there was a slight increase in downstream willingness to buy on dips, most of them were short-term small order restocking, and the overall purchasing power was weak, making it difficult to drive the overall trading atmosphere in the market to recover. At the same time, the price difference performance of related categories in the market is average, and the industry’s profit margin is limited, further suppressing the enthusiasm of downstream concentrated procurement. The overall demand has always been difficult to provide strong support to the market.

Market forecast:
The short-term mixed xylene market continues to fluctuate at a low level, with no obvious signs of recovery in the market, and prices are difficult to break away from a weak pattern in the short term. There is still uncertainty in the fluctuation of crude oil on the cost side, and the pressure of abundant supply on the supply side continues. The demand side has weak recovery during the off-season, and there is still a slight possibility of price decline under multiple bearish factors. We will continue to closely monitor the trend of crude oil prices and refinery maintenance. With the gradual end of the off-season, downstream demand is expected to steadily rebound. Coupled with the gradual adjustment of market fundamentals, it is expected that the mixed xylene market will gradually stop falling in the future, and there is a possibility of a moderate recovery trend in the later stage.

The price of ethylene glycol stopped falling in June
In June 2026, the price of ethylene glycol remained stable, interrupting the previous unilateral downward trend. According to data from Shengyi Society, as of June 12th, the average spot market price for domestic oil to ethylene glycol traders was 4723.33 yuan/ton, a decrease of 0.98% from the average price of 4760 yuan/ton on June 1st.
The price of ethylene glycol for port paper cargo is mainly based on basis pricing, and the price closely follows the fluctuations of the futures market. In June 2026, the price of paper cargo ethylene glycol at the port slightly increased. As of the 12th, the spot contract price of ethylene glycol at the port (starting from 500 tons). Today’s spot contract basis price is operating within the range of+115 to+123, with a slight decrease in the intraday basis price, ranging from 5-8 yuan/ton. As of the close, the basis price of the contract next week (before June 18th) will be+123 to+125, and the basis price of the contract in June will be+130 to+135.
The spot price of domestic coal to polyester grade ethylene glycol (loose water, tax included, self pickup) for whole vehicle manufacturers is 4030-4150 yuan/ton.
Changes in Ethylene Glycol Port Inventory in June 2026:
On June 11, 2026, the total spot inventory of ethylene glycol in the main port of East China was 611000 tons, an increase of 5000 tons compared to the total spot inventory of 606000 tons on June 1.
Summary of the reasons for the halt in the decline of ethylene glycol prices in June 2026:
In June 2026, the price of ethylene glycol stopped falling, with the core being that after experiencing a significant premium squeeze in May, the actual transaction price of ethylene glycol spot (Huadong Oil Manufacturing) was around 4400 yuan/ton, receiving strong support. Considering the shutdown and maintenance of multiple main equipment in June, combined with the reduction in import volume in May, and the rebound in raw coal prices, the market has provided impetus for the price of ethylene glycol to stop falling and rise. The main trigger point is the financial sentiment driven by the unstable news in the Middle East, and the futures market has shown a significant upward trend.

Reasons for not being overly optimistic in the future:
1. Weak demand; Polyester off-season, poor terminal orders, low willingness to replenish inventory, and continuous negative feedback;
2. Supply side; After maintenance, the pressure of resuming production and imports gradually increased;
3. Cost side: High oil prices have loosened, and coal prices are under pressure to adjust.
1、 On the demand side: The off-season remains weak, with negative feedback remaining unbroken
Polyester production is low and there is still a risk of decline
Approximately 80% of polyester production started in June, a decrease of 7 percentage points compared to the same period last year; The major filament factories continue to reduce production to maintain prices, and the demand for bottle chips is weaker, leading to an increase in voluntary production cuts. Multiple institutions estimate that polyester production may decrease to 76% -77% by the end of June.
Insufficient orders for terminal textile services and weak weaving load
Only 61% of the weaving machines in Jiangsu and Zhejiang have started production, mainly for small orders and fast reverse orders, without large-scale centralized replenishment. The PMI of European and American manufacturing industries continues to be below the boom bust line, and weak external demand is suppressing textile exports.
Low inventory of polyester raw materials, only for essential purchases
The MEG inventory of polyester factories is about 7.5 days (the lowest in the same period of the past three years), and replenishment is mostly a phased and passive behavior, with weak willingness to actively replenish inventory. The surge in polyester production and sales is mostly a short-term replenishment of inventory, rather than a substantial rebound in the terminal market.
The sluggish real estate market is dragging down downstream
The weak real estate market has affected the consumption of polyester related to building materials, home appliances, and indirectly suppressed MEG demand.

2、 Supply side: After maintenance, the pressure of resuming production and the gradual recovery of imports
Domestic maintenance is concentrated but not permanently suspended, with an increase in production resuming in June and July
The maintenance in June is mostly planned for short-term maintenance (10-45 days), and will be gradually restarted from late June to July to increase supply pressure. At present, the profit of coal production facilities is still acceptable, with a high operating rate of over 80% and sufficient power to resume production.
Expectations of geopolitical easing in the Middle East, with imports gradually recovering at ports
As the United States and Iran engage in negotiations, if the navigation in the Strait of Hormuz is restored, the restart of Middle Eastern facilities and a significant increase in port arrivals will be achieved. The expected arrival of ethylene glycol in May is the lowest of the year, with an estimated arrival of 200000 to 250000 tons in June and 300000 to 350000 tons in July. Some Iranian facilities have been restarted, and offshore facilities have resumed production, resulting in increased pressure upon arrival at the port.
Oil production equipment operates at low load, with potential supply for the long term
Despite the loss pressure and low load operation of oil based MEG; If oil prices fall and profits improve, there is room for a rebound in load.
3、 Cost side: High oil prices loosen, coal prices face downward pressure
Risk of a decline in the geopolitical premium of crude oil
The US Iran negotiations have been repeated, and once the geopolitical conflict cools down, oil prices will sharply decline and cost support will weaken.
The cost of coal production is not an ‘iron bottom’
At present, the price of thermal coal is at a high level, and the upward trend caused by the events at the end of May has been offset by the supply guarantee policy. If coal mine safety inspections are relaxed and the summer electricity peak is passed, there is room for coal prices to fall, and MEG cash cost support will move downwards.

Acetic anhydride prices narrowly reduced in May

The acetic anhydride market rose first and then fell in May. As of May 31st, the price of acetic anhydride was 5450 yuan/ton, a decrease of 105 yuan/ton or 1.89% from the price of 5555 yuan/ton on May 1st.
The acetic anhydride market in May was greatly affected by raw materials and demand, and the price showed a trend of first rising and then falling during the month. At the beginning of the month, the price of raw material acetic acid rose, and cost support was favorable, driving up the price of acetic anhydride. At the same time, downstream purchases followed up on demand, and the market trading atmosphere was good. In the first half of the month, the price of acetic anhydride remained relatively strong. In the latter half of the year, the price of raw material acetic acid continued to decline, and cost support weakened. At the same time, downstream resistance to high priced goods increased, resulting in insufficient trading on the market and a weak downward trend in the acetic anhydride market.
The acetic acid market fluctuated and declined in May
As of May 31st, the price of acetic acid commodity was 3040 yuan/ton, a decrease of 4.80% compared to the beginning of the month price of 3193.33 yuan/ton. During the month, the maintenance of the acetic acid plant was concentrated, and the market supply pressure was not significant. However, the terminal market trading was weak, and downstream demand for essential purchases was maintained. The company’s shipments were poor, and the market sentiment was pessimistic. At the same time, the raw material methanol has fallen slightly, and the cost support is insufficient. The demand constraint is obvious, and the price of acetic acid is weakly declining during the month.
Outlook for the future market
According to analysts from Shengyi Society, the low price of raw material acetic acid has a weak impact on the cost side, resulting in insufficient confidence in the acetic anhydride market and limited short-term price increases. Downstream procurement is mainly based on demand, with average demand support. It is expected that the acetic anhydride market will continue to operate weakly in the future, with specific attention paid to upstream price changes and downstream follow-up.

In the second half of May, the dichloromethane market in Shandong showed a trend of rising and then falling, with weak consolidation. In the first half of the month, due to factors such as equipment maintenance and a phased decrease in operating rates, prices increased by over 14%. However, as we entered the second half of the month, with the gradual resumption of production and increased supply expectations, coupled with strong resistance to high prices in downstream markets, the market gradually shifted into a weak pattern, the trading atmosphere weakened, and the willingness of enterprises to ship increased.

As of May 29th, the mixed price of dichloromethane in Shandong region was 2175 yuan/ton, a decrease of 7.05% compared to the middle of the month.
Core driver analysis
Supply side: From tight to loose, pressure is released in a concentrated manner
In the first half of May, maintenance was concentrated, and the operating rate was low. The tight supply of goods pushed up prices to a high level. In the second half of the month, the maintenance equipment will resume production one after another, and the operating rate will rise to over 80%. The circulation of goods will increase rapidly, but the demand follow-up under high price suppression will be insufficient, and the mismatch between supply and demand will directly trigger a price correction. Enterprises offer discounts on shipments, further driving down market prices.
Cost side: Cost support from ‘weak’ to ‘none’
Some liquid chlorine companies are under pressure to ship, resulting in price reductions and a downward shift in the price center during the cycle. The trend of methanol market is running from strong to weak, and the market has been in a high-level stalemate stage where “cost increases cannot be transmitted” in the early stage. Downstream resistance to high prices is strong. When the price of methanol falls and the liquid chlorine market declines, it directly opens up the downward space for dichloromethane. The cost pressure of lowering prices and shipping for enterprises has significantly eased, coupled with increased supply and weak demand, leading to an imminent price drop.
Demand side: primary demand, high price resistance
Downstream industries such as refrigerants, pharmaceuticals, and coatings only maintain essential procurement, mainly relying on small orders and wait-and-see measures, lacking support for large orders. Under the influence of environmental substitution, traditional demand for coatings and other products continues to be weak, and only the demand for pharmaceuticals remains relatively stable, making it difficult to offset the overall weak demand.
Market forecast:
As the maintenance equipment gradually resumes production, the pressure on the supply side is gradually released; High prices suppress downstream enthusiasm for receiving goods and lead to insufficient demand follow-up; Cost support has weakened, and in the short term, dichloromethane is expected to fluctuate weakly. Attention should be paid to the raw material market and the actual progress of equipment resumption.