Domestic ECH Market Monthly Price Change Table
Unit: yuan/metric ton
| Region | Average Price This Period | Average Price Previous Period | Average Price Year-Ago | MoM | YoY |
|---|---|---|---|---|---|
| Jiangsu | 11,272 | 11,113 | 9,593 | 1.43% | 17.50% |
| Huangshan | 11,387 | 11,164 | 9,661 | 2.00% | 17.87% |
| Shandong | 11,051 | 10,905 | 9,329 | 1.34% | 18.46% |
Source: Chempricehub Information
In August, the domestic ECH market was affected by multiple intertwined factors such as costs and supply-demand dynamics, showing an overall volatile trend of first declining and then rising, with notable price fluctuations. At the beginning of the month, supported jointly by stronger cost-side support, tight spot supply, and increased rigid demand from some downstream sectors, market prices stayed in a high range of 11,750–11,850 yuan/metric ton. However, as prices continued to climb, downstream buyers' acceptance of high-priced raw materials declined, and new-order transactions came under increasing pressure.
From August 6 onward, market sentiment shifted. Producers became more cautious about the future outlook, increased their willingness to sell, and showed a stronger inclination to take profits, sending prices onto a downward track. On August 17, the bank-acceptance delivered price in the Jiangsu market fell to 10,700–10,800 yuan/metric ton, a single-day drop of 4.44%, which clearly dented market confidence. Despite the continuous price decline, downstream purchasing sentiment did not improve notably. Pessimism spread, low-priced supplies appeared frequently, and actual transaction volume remained limited.
As prices gradually approached the cost lines of different process routes, producers' profitability came under greater pressure. Some downstream users and traders who had previously adopted a wait-and-see stance began to replenish stocks moderately at lower prices, leading to a slight recovery in demand. Starting August 20, the Shandong market took the lead in raising prices, followed by mainstream markets such as Jiangsu and Huangshan. Trading activity improved markedly and market sentiment turned more positive. On August 24, the bank-acceptance delivered price in Jiangsu rose by 300 yuan/metric ton in a single day to 11,100–11,200 yuan/metric ton.
Nevertheless, after prices quickly rebounded to a relatively high level, downstream replenishment demand had been largely released, and buyers' acceptance of high-priced raw materials weakened again. Purchasing enthusiasm fell from earlier levels, and market trading sentiment gradually cooled. As a result, ECH producers slowed the pace of spot sales, and prices lacked effective drivers for further advances. The upside room for price hikes was limited, and the market subsequently entered a narrow consolidation phase with limited overall movements. As of August 28, the monthly average ECH price in the Jiangsu market was 11,272 yuan/metric ton, up 159 yuan/metric ton from the July average, an increase of 1.43%.
Looking ahead to September 2026, the domestic ECH market is expected to show a trend of declining first and then rising. Domestic glycerin prices are broadly stable with minor fluctuations, but costs for glycerol-based ECH still provide support, which is positive for market sentiment. On the supply side, industry profit expectations are narrowing, especially as losses in the glycerol-based route have widened further. This may curb overall operating rates, and total supply is expected to decrease. However, given that September coincides with China's traditional Mid-Autumn Festival and the upcoming National Day holiday, downstream users are expected to build inventories. Producers and traders are therefore reluctant to sell at low prices and intend to support prices.
On the demand side, with the arrival of the traditional "Golden September and Silver October" consumption peak season, downstream end-user demand is expected to release further and gradually transmit upward to the raw material segment. A prerequisite is that prices of the key downstream product, epoxy resin, fall to a sufficiently low level to stimulate purchasing interest, which would in turn provide some support for the ECH market. On the other hand, domestic ECH prices remain relatively high, giving exports little clear competitive advantage, so export growth is expected to be limited. Overall, the supply-demand gap in the domestic ECH market in September is likely to narrow, and prices are more likely to fall first and then rebound.
For more monthly market analysis, please refer to the Chempricehub Information ECH Monthly Report.
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