High demand for non-deep processing; pyrolysis C5 prices continue to rise (September 4-10, 2026)

1. This Week's Market Focus

• East China mixed C5 prices rose 3.74%, and Shandong cracking C5 residual liquid prices rose 5.2%.
• Deep-processing pentadiene prices rose, while petroleum resin prices were steady to higher.
• Cracking C5 supply rose slightly.

2. This Week's Market Analysis

This week (September 4–10, 2026), industrial cracking C5 prices were raised by RMB 350–400/t to RMB 6,900–7,100/t, while private-producer prices continued to rise. On Thursday, September 10, North China cracking C5 rose RMB 400 to RMB 7,100/t; East China rose RMB 350 to RMB 7,000/t; Northeast China was RMB 6,750–7,060/t; South China quotes rose RMB 350 to RMB 6,900–7,000/t; and some private-producer prices rose to RMB 7,500–8,258/t.

3. Market Influencing Factors Analysis

This week, the domestic dicyclopentadiene market continued its upward trend, with supply remaining tight. The continued rise was driven partly by higher feedstock costs and partly by concentrated export negotiations; at the same time, domestic plants holding almost no inventory further tightened market supply. During the week, major producers' cracking C5 prices rose by a cumulative RMB 350/t, pushing up costs. On the downstream side, UPR rigid-demand costs rose, orders weakened somewhat, and some plants have already begun changing formulations. Hydrogenated DCPD resin, under cost pressure, has just begun to raise prices, but it is clearly affected by competing products and end-use demand. Overall, demand support is weak, and transactions mainly consisted of rigid-demand buyers passively accepting high prices. As of September 10, dicyclopentadiene ex-works prices were RMB 8,300–8,900/t; the low end was for stable customers, the high end was mostly spot, and a few auction prices were slightly higher.

This period, domestic piperylene (1,3-pentadiene) continued to rise, with both high and low ends up RMB 300/t to ex-works prices of RMB 8,500–9,300/t. Geopolitical disruptions pushed up crude oil and cracking C5 prices, providing strong cost-side support. On the supply side, some producers returning from maintenance resumed output, but due to previous presales and captive consumption, merchantable supply in the market was limited, keeping the market tight. Downstream resin and curing agent producers were forced to raise prices due to higher costs, but lacking order support, industry operating rates fell and some units shut down. This week, supported by costs and its own supply conditions, piperylene suppliers held firm on prices, while downstream buyers purchased only on a rigid-demand basis.

This period, domestic isoprene continued to rise; in the mainstream market, offer and bid prices at both high and low ends rose RMB 300/t to RMB 13,300–13,600/t. Geopolitical disruptions pushed up crude oil and cracking C5 prices, providing strong cost-side support. On the supply side, some units previously under maintenance gradually resumed production and shipments, but because previous presales and contract deliveries tied up cargoes, the increase in merchantable resources was limited; combined with output cuts at some operating producers due to feedstock constraints, the tight supply situation in the market continued. In the downstream SIS industry, the price spread remained narrow, and buyers only made passive rigid-demand purchases; other downstream industries showed acceptable purchasing capacity and maintained a rigid-demand buying pace.

This week, the cracking C5 residual liquid market rose continuously, with the average price closing higher. As of September 10, according to the domestic price index, the national weekly average price of cracking C5 residual liquid was RMB 7,486/t, up RMB 379/t, or 5.33%, from last week's average. Specifically, this week the domestic cracking C5 residual liquid market price range was RMB 7,790–8,190/t. During the week, international crude oil prices rose. The refined oil market in Shandong continued to rise, with mid- and downstream traders chasing higher purchases, and buying and selling sentiment was fair. For mixed C5, a competing product, the bullish supply-demand factors came to an end, and its price edged down. The South China cracking C5 residual liquid market rose markedly; Northeast, East China, and Central China fluctuated narrowly and lacked momentum for further gains. Traders and downstream plants entered the market, and the trading atmosphere was moderate.

4. Next Week's Market Forecast

Cracking C5 prices are expected to rise next week. Key points to watch:

1. Some units may be affected by lighter feedstock use, with overall output falling slightly.
2. In the downstream non-deep-processing segment, demand is supported by higher gasoline prices, so cracking C5 residual liquid has relatively strong support, and prices will continue to rise.
3. In the deep-processing segment, pentadiene prices have limited room for increases, and petroleum resin price increases will be relatively small.