[Introduction]: Due to factors such as reduced supply of industrial C10 heavy aromatics, the operating rate of durene plants using the C10 method has dropped to 26.6%. Tight spot supply has bolstered a price-supportive sentiment in the market. However, downstream crude anhydride and pyromellitic anhydride markets have shown weak raw material procurement, leading to a stagnant supply-demand balance and a halt in trading. When this deadlock will be broken has become the market's focus.

I. Durene Plant Operating Rate Falls to 26.6%

According to statistics from Chempricehub, no new maintenance enterprises were added during this period, but previously idled plants such as Yangzi Petrochemical and Sinopec Jinling have yet to resume operations. In particular, a reduction in capacity at a reforming unit at a Northeast refinery led to a decline in the supply of industrial C10 heavy aromatics, reducing raw materials for durene plants using the C10 method. Meanwhile, durene plants such as Jiangsu Lianxing have been shut down, and no synthetic method durene plants are operating. As a result, the overall operating rate of durene plants using the C10 method dropped to 26.6%, with market players showing strong price-supportive sentiment.

II. Crude Anhydride and Pyromellitic Anhydride Producers Consume High-Priced Raw Material Inventories

Table 1: Price List of Domestic Durene and Upstream/Downstream Products (May 15–22, 2026)

Unit: RMB/ton

| Product | Region | Current Period Avg | Previous Period Avg | Change |
| --- | --- | --- | --- | --- |
| Industrial C10 Heavy Aromatics | East China | 5441 | 5191 | +217 |
| High-Boiling Aromatic Solvent SA1500# | East China | 6050 | 6000 | +50 |
| Durene | National | 32000 | 32000 | 0 |
| Pyromellitic Anhydride | Shandong | 65000 | 65000 | 0 |
| Pyromellitic Dianhydride | Shandong | 75000 | 75000 | 0 |

Data source: Chempricehub

The spot supply of durene in the domestic market has been tightening continuously, yet the downstream crude anhydride and pyromellitic anhydride markets have not actively stockpiled to further push up market prices. The contradiction between high cost pressure and limited demand is highlighted. Under pressure from weak terminal demand for pyromellitic anhydride, crude anhydride and pyromellitic anhydride producers are consuming their previously purchased high-priced raw material inventories. Among them, crude anhydride producers without downstream pyromellitic anhydride capacity have opted for maintenance shutdowns as they cannot bear the high raw material costs. Consequently, the durene market has fallen into a stalemate amid a stable supply-demand balance. With slow offtake of previously high-priced raw materials and sluggish new order negotiations with no mainstream transactions heard, cautious and wait-and-see attitudes have become the market's dominant tone.

III. Supply-Demand Balance: When Will the Durene Stalemate Break?

As of the end of the month, the trading deadlock for durene has persisted for over a month. Pyromellitic anhydride producers are likely to gradually replenish raw materials as their inventories are depleted. Additionally, with scheduled maintenance at reforming units (such as Fujian Haichuang) in June, the supply of industrial C10 heavy aromatics will continue to decrease, keeping the operating rate of C10 method durene plants at a low level—this theoretically supports the buying and selling sentiment in the durene market. However, with the commissioning of new capacity at Hualun New Materials, including a 500,000-ton/year fractionation unit, a 20,000-ton/year durene plant, and a 6,000-ton/year pyromellitic anhydride plant, the market will face renewed pressure. Crude oil futures trends, changes in industrial C10 heavy aromatics supply, and price adjustments in the crude anhydride and pyromellitic anhydride markets will become key factors influencing durene prices.