1、 Price trend

According to data monitored by Shengyi Society, as of May 30th, the average price of industrial grade high-quality cyclohexane in China was 7450 yuan/ton. Currently, the cyclohexane market is operating steadily, with transaction prices remaining at around 7500 yuan/ton. The supply of cyclohexane in the market is sufficient, and the overall market supply and demand are balanced. The focus of negotiations is narrow and weak, and the overall market is stable with little price fluctuation.
2、 Market analysis
In terms of demand: downstream demand is average, shipments are slow, the purchasing atmosphere is quiet, and inventory pressure is high. In terms of exports, there are currently no significant incremental orders, and most of them are contract customers, with normal shipments.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that the cyclohexane market is expected to maintain its current trend in June, with limited room for price increases.

After experiencing a roller coaster like market trend in January and February, the domestic acrylonitrile market has once again become flat since March, with prices fluctuating between 8000-9000 yuan/ton for most of the time. In May, the market amplitude further narrowed, hovering around 8500 yuan/ton with slight fluctuations.

In May, the capacity utilization rate of the domestic acrylonitrile industry dropped to around 74%, which is basically the same as the capacity utilization rate during the price surge in January this year. However, due to changes in the total capacity base, the total capacity of acrylonitrile has increased from 4.399 million tons/year at the beginning of the year to 4.789 million tons/year currently (the 130000 ton and 260000 ton units of Yulong Petrochemical and Sinochem Quanzhou have been successfully put into operation in March and April), so the actual supply still maintains a growth trend. At the same time, due to the limited overall demand increment, the supply-demand relationship showed a weak trend in May, which also led to the low volatility of acrylonitrile prices even under cost pressure.
The overall supply of acrylonitrile is excessive, and the resources in various provinces are gradually saturated. Sinochem Quanzhou has filled the supply gap in Fujian. After Yulong Petrochemical is put into operation, the oversupply pattern in the Shandong market has further intensified. Among the four major consumer regions of Jiangsu, Zhejiang, Shandong, and Jilin, Zhejiang and Jilin are still in a state of supply shortage and tight balance. However, in June, the 400000 ton Zhenhai Refining and Chemical and the 260000 ton Jilin Petrochemical capacity expansion units will also be put into operation, and the supply in each major consumer region will be fully utilized.
If the 130000 ton plant of INEOS (Tianjin) is successfully put into operation in the second half of the year, coupled with the input of surplus resources from surrounding provinces, the consumption in Hebei and Tianjin areas will also be covered, and the cross regional circulation of acrylonitrile will gradually decrease.
Looking at the whole year of 2025, the total new production capacity of acrylonitrile will reach 1.31 million tons per year. The main growth area of demand is still the downstream ABS industry, but the actual implementation of new production capacity may not meet expectations. Overall, the oversupply of acrylonitrile in 2025 is expected to intensify, and the supply variables caused by unplanned parking and load reduction will increase. In this context, the frequency of price fluctuations may increase, but the amplitude may further narrow.

According to the analysis of the Business Society’s market monitoring system, on May 30th, the reference price for the domestic silicon metal # 441 market was 8780 yuan/ton. Compared with May 1st (the market price for silicon metal # 441 was 9880 yuan/ton), the price decreased by 1100 yuan/ton, a decrease of 11.13%.

From the market monitoring system of Shengyi Society, it can be seen that in May, the overall domestic spot market for silicon metal # 441 showed a weak downward trend. In May, the focus of the spot market for silicon metal continued to decline, and the focus of on-site negotiations was continuously lowered. As of May 30th, the reference market price for silicon metal 441 in East China was around 8500-8800 yuan/ton, in Kunming it was around 9100-9300 yuan/ton, and in Tianjin it was around 8300-8600 yuan/ton. The market price reference for metallic silicon 441 # in Sichuan region is around 8400-8600 yuan/ton. The market price reference for metallic silicon 441 # in Shanghai is around 8900-9200 yuan/ton..
Market influencing factors
In terms of supply and demand: In May, the domestic silicon metal market still showed a weak supply-demand situation. During the month, the overall operating rate of the silicon metal market was low, and due to supply pressure, some silicon companies had extremely low operating volumes. The overall support provided by the supply side to the silicon metal market was weak. The overall recovery of downstream demand market is slow, with cautious demand performance. The demand side has limited procurement of raw materials, and the support provided by the demand side to the market is also insufficient.
Market analysis in the future
At present, the trading and negotiation atmosphere in the metal silicon market is relatively weak, and there is a certain wait-and-see sentiment in the market. The downstream stocking pace is relatively slow. Business Society’s metal silicon data analyst predicts that in the short term, the domestic metal silicon market will mainly adjust and operate in a narrow range, and specific changes in supply and demand information need to be closely monitored.