In May, the chemical market continued to show signs of weakness, with many products facing downward pressure. According to data from industry associations, out of the 68 chemical products monitored, 44.1% saw their prices drop, while 39.7% remained stable and only 16.2% experienced an increase. This trend reflects ongoing challenges in demand and supply dynamics across the sector.
Business analyst Zhang Ming highlighted that weak demand remains a key issue for the chemical industry. He noted that as we move into the next two months, certain products are expected to enter their peak export season, which could help stabilize the market. Based on current trends, he predicts that the chemical market may reach a bottom by late June or early July, setting the stage for a potential rebound in the third quarter.
The chemical industry index dropped below its 2012 low in early May, hitting 921 points on May 30. Several key products saw significant price declines, including ammonium sulfate, n-butanol, crude oil, coking benzene, ethanol, DOP, pure benzene, and urea. However, some products such as phenol, styrene, and glyphosate have maintained upward momentum for two consecutive months, showing resilience amid broader market weakness.
In certain sectors, reduced production due to shutdowns and maintenance has led to lower supply levels, resulting in more stable pricing. For example, propylene oxide and styrene plants entered their maintenance periods in May, which helped support prices. Additionally, cost pressures have become more pronounced in specific industrial chains. This month, the rise in epichlorohydrin prices can be attributed to higher raw material costs, particularly for ** and propylene, as manufacturers seek to pass these increased expenses onto consumers.
With the market still adjusting to shifting demand and supply conditions, the coming months will be crucial for determining whether the chemical industry can regain its footing and begin a new phase of growth.Zhejiang Sealand Technology Co., Ltd. is a trustworthy manufacturer of Palm Oil Mass Flow Meter, Palm Oil Mass Flowmeter, Palm Oil Coriolis Mass Flow Meter, Palm Oil Coriolis Mass Flowmeter, Palm Oil Flow Meter, ATEX, IECEx & CE approved.
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