1、 Price trend
Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market was flexible in trading in May. Overall, the titanium dioxide market slightly increased, with an average price of 17180 yuan/ton on May 1st and 17200 yuan/ton on May 28th, with a price increase of 0.12%.
2、 Market analysis
In May, the domestic titanium dioxide market saw a slight increase in low-end prices and a slight decrease in high-end prices, resulting in overall flexible trading. The overall supply of sulfur in the domestic market is tight, with raw material sulfuric acid prices fluctuating at high levels, titanium ore prices remaining firm, and titanium dioxide production costs being high. But as the market enters the off-season, market shipment pressure becomes apparent, and factory inventory shows a slight upward trend. The market has a strong sense of competition between upstream and downstream, and the trading of titanium dioxide market is flexible. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 17000-18000 yuan/ton; The price of the Ruiti type is around 15000-16000 yuan/ton, and the actual transaction price is negotiable..
According to customs data statistics, the import of titanium dioxide will be 5053.29 tons in 2026, a year-on-year decrease of 23.29% and a month on month decrease of 14.72%. Among them, 2597.04 tons will be imported by chlorination method and 2456.25 tons will be imported by sulfuric acid method; From January to April 2026, the cumulative import of titanium dioxide was about 20600 tons, a year-on-year decrease of 24.67%. Among them, the import of chloride method was 12759.80 tons, a year-on-year decrease of 19.32%, and the import of sulfuric acid method was 7862.13 tons, a year-on-year decrease of 31.98%.
According to customs data statistics, the export of titanium dioxide in April 2026 was about 193500 tons, a year-on-year increase of 30.73% and a month on month decrease of 3.98%. Among them, the export of sulfuric acid method was about 157000 tons, a month on month increase of 0.09%, and the export of chlorination method was 42800 tons, a month on month decrease of 16.02%; From January to April 2026, the cumulative export of titanium dioxide was 730300 tons, a year-on-year increase of 12.53%. The export of sulfuric acid method was 551700 tons, a year-on-year increase of 5.88%, while the export of chloride method was about 178600 tons, a year-on-year increase of 39.63%.
3、 Future forecast
At present, the trading of titanium dioxide in the domestic market is flexible, and the market is in a wait-and-see situation. Pay more attention to Dragon Enterprise’s plans for next month. It is expected that the titanium dioxide market will remain stable in the short term.

In late May, the market for adipic acid gradually weakened. On May 18th, the average market price of adipic acid was 9233 yuan/ton, and on May 25th, the average market price of adipic acid was 9133 yuan/ton, a decrease of 1.08%.
The main factors affecting the rise and fall of adipic acid market during this stage
Supply side: Centralized maintenance to hedge partial pressure. In response to the situation of oversupply in the market, the adipic acid factory has been releasing concentrated reports of equipment shutdown or load reduction since the end of April, in order to achieve the goal of reducing production and maintaining prices. The industry’s operating rate dropped from around 75% in late April to around 65% in late May.
Demand side: Downstream is entering the off-season, with weak procurement. Downstream demand is the core factor currently dragging down the market. Starting from mid to late May, downstream industries gradually entered the traditional off-season, with poor follow-up of terminal orders.
Procurement pace: End users and downstream factories mainly focus on digesting early-stage inventory, maintaining a strong demand for raw material adipic acid procurement, with very limited follow-up on inquiries and actual orders.
Downstream industries: The operating rate of major downstream industries such as PA66 has significantly declined, further reducing raw material consumption. TPU and other markets also have light trading, making it difficult to form strong support for adipic acid.
On the cost side, the raw material pure benzene market declined synchronously in mid to late May, and the listing price of Sinopec pure benzene was slightly lowered. This has resulted in less support from the cost side compared to the previous period, affecting market sentiment.
In summary, the forecast for supply and demand shows that cost support is weakening, supply is tightening, demand is declining, and the rise in adipic acid in early June is weak. From a technical perspective, it can be seen that the upward momentum of the adipic acid market in May was insufficient, and the increase was limited. Therefore, the overall weak downward trend of adipic acid market in early June is expected, with prices ranging from 9000 yuan/ton to 9300 yuan/ton.

price trend
This week, the market price of isopropanol first rose and then fell, and overall the price has slightly increased. At the beginning of the week, the average price of isopropanol in China was 8250 yuan/ton, and over the weekend it was 8266.67 yuan/ton, with a price increase of 0.2%.
This week, the market price of isopropanol first rose and then fell. The price of raw material acetone has fallen, and cost support is weak, resulting in a decrease in factory offer prices. At present, the isopropanol market is weak, and there is a lack of confidence in the isopropanol market. Downstream demand is mainly due to necessity, and procurement is cautious. As of the weekend, most of the isopropanol market prices in Shandong are around 8100-8300 yuan/ton; The majority of prices in the isopropanol market in Jiangsu are around 8150-8300 yuan/ton.
Future forecast
This week, the market price of isopropanol first rose and then fell, with downstream demand as the main factor, and the market remained cautious. It is expected that the short-term market will be weak and mainly focused on consolidation, with more attention paid to the trading trends of major companies.

Aluminum prices fluctuate narrowly in May
In May 2026, the overall price of aluminum ingots showed a fluctuating pattern of first falling, then rising, and then falling back. The price center within the range fluctuated around 24400 yuan/ton, with an overall amplitude of 2.28% (based on the price on May 1st), reaching a high of 24620 yuan/ton and a low of 24063.3 yuan/ton. According to the Commodity Market Analysis System of Shengyi Society, as of May 22, 2026, the average price of aluminum ingots in the East China market was 24363.33 yuan/ton, a decrease of 0.16% from the market average price of 24403.33 yuan/ton on May 1; The market average price is 24620 yuan/ton, a decrease of 1.04% compared to the high point of the month (5.14); The average market price for the month’s double low (5.7&5.18) was 24063.33 yuan/ton, an increase of 1.25%,
The general logic of aluminum price operation in May is as follows:
The trend of aluminum prices this month is dominated by the differentiation of internal and external fundamentals, maintaining an overall range oscillation pattern. The overseas geopolitical situation continues to be disturbed, with limited production of aluminum plants in the Middle East region and obstructed sea transportation. Global aluminum raw material supply is tightening, and London aluminum inventory is at a low level for many years. The shortage premium in peripheral markets continues to provide bottom support for domestic aluminum prices.
The domestic market supply and demand performance is relatively stable, with strict control over electrolytic aluminum production capacity, a slight increase in monthly output, and limited supply side increment. The downstream industry is gradually entering the traditional off-season of consumption, with weak purchasing enthusiasm of end enterprises, insufficient follow-up of market transactions, obvious pressure on the high price range, and constrained upward space.
In terms of market rhythm, the market trading was light during the holiday at the beginning of the month, and prices remained stable; Affected by macro data after the holiday, aluminum prices quickly fell back and hit a monthly low; Subsequently, driven by the strengthening of the external market and the steady depletion of domestic inventory, prices rebounded and surged; At the end of the month, the market speculation sentiment cooled down, and funds profited and left. Coupled with the drag of off-season demand, aluminum prices gradually fell and maintained a narrow range of fluctuations.
At the macro level, fluctuations in the US dollar and expectations of overseas interest rate hikes have repeatedly disturbed the commodity market, further exacerbating short-term fluctuations in aluminum prices. At present, the long short game is relatively balanced, with positive supply side and negative demand side balancing each other. There is currently no clear unilateral breakthrough direction for aluminum prices in the short term.

1、 Price trend
As of May 21st, the reference average price of urea market in Shandong Province, China was 1775 yuan/ton, which is 2.61% lower than the reference average price of 1822 yuan/ton on May 15th.
2、 Market analysis
market situation
This week, the domestic urea market prices continued to decline weakly. Recently, urea prices in the spot market have been continuously declining due to export rumors. The futures market started to rebound after a decline. As of May 21st, the urea market prices in Shandong are around 1740-1800 yuan/ton, Hebei is around 1750-1790 yuan/ton, Henan is around 1750-1800 yuan/ton, Hubei is around 1750-1810 yuan/ton, and Liaoning is around 1850-1870 yuan/ton.
supply and demand situation
In terms of supply, the current operating rate of urea enterprises is over 90%, and the overall inventory remains high. In terms of demand, the demand for agricultural urea fertilizer has weakened. The operating rate of downstream compound fertilizer enterprises has decreased, resulting in a reduction in urea procurement. The demand for industrial urea is also beginning to weaken.
3、 Future forecast
Business Society’s urea analyst believes that the recent downward trend in the domestic urea market is the main reason. At present, the demand for urea is off-season, downstream procurement is slowing down, and new orders in the market are decreasing. At present, there is no positive news, and it is expected that the domestic urea market will weaken and consolidate in the short term.