[Introduction]: Due to bearish factors such as a sharp decline in downstream crude dianhydride and pyromellitic dianhydride (PMDA) market prices, the domestic durene (1,2,4,5-tetramethylbenzene) market ultimately failed to see a turning point. Market prices began to correct rapidly, with a few quotations falling to 26,000 yuan/ton, a decrease of 18.75%. Under the influence of the “buy when prices rise, avoid when they fall” mentality, buying and selling remained deadlocked.

1. Sharp Drop in Downstream Prices Drags Down Durene Market

Affected by bearish factors such as sluggish downstream market demand and the release of new capacity, domestic crude dianhydride and PMDA market prices fell sharply. However, influenced by the “buy when prices rise, avoid when they fall” mindset, downstream market inquiries were cautious, leading to a situation where high-priced orders were not picked up and low-priced offers were met with waiting and no contract signing. Overall buying and selling nearly came to a standstill. Many PMDA units operated at reduced loads as downstream markets consumed inventories to await market changes. The mainstream quotation for crude dianhydride was 37,000–40,000 yuan/ton, and for PMDA it was 44,000–47,000 yuan/ton, thereby dragging down transactions in the durene market. Consequently, even the tight spot supply of durene could not stop the market decline, with quotations falling to 26,000 yuan/ton, a drop of 18.75%.

2. Continuing Low Operating Rates of Durene Plants

According to ChemPriceHub statistics, this month Yangzi Petrochemical and Zhoushan Petrochemical have planned maintenance shutdowns, and previously halted enterprises have not yet resumed operations. The supply of industrial C10 heavy aromatics dropped to 248,300 tons this month, a decrease of 38,500 tons from the previous period. The raw material supply for C10-route durene units continued to shrink. Meanwhile, durene units such as Jiangsu Lianxing were shut down, and synthetic-route durene units remained idle. Therefore, in this round of decline, the drop in the durene market was limited, and market participants remained largely wait-and-see.

3. Crude Dianhydride and PMDA Producers Consuming High-Priced Inventories from Earlier Period

Table 1: Domestic Durene and Upstream/Downstream Product Prices (May 22–29, 2026) Unit: yuan/ton

| Product | Region | Current Period Average | Previous Period Average | Change |
|---|---|---|---|---|
| Industrial C10 heavy aromatics | East China | 5,191 | 5,191 | 0 |
| High-boiling aromatic solvent SA1500# | East China | 6,000 | 6,000 | 0 |
| Durene (1,2,4,5-tetramethylbenzene) | Nationwide | 32,000 | 26,000 | -6,000 |
| Pyromellitic acid (crude) | Shandong | 65,000 | 38,000 | -27,000 |
| Pyromellitic dianhydride (PMDA) | Shandong | 75,000 | 45,000 | -30,000 |

Source: ChemPriceHub

In the short term, units such as Ningbo Zhongjin and Zhoushan Petrochemical are scheduled for maintenance in June, and some large refining and chemical enterprises have significantly reduced their external sales. Therefore, market supply is expected to decline in June, and the operating rate of C10-route durene units will remain low, theoretically supporting the buying and selling atmosphere in the durene market. However, with the commissioning of Hualun New Materials' 500,000 t/a cutting unit, 20,000 t/a durene unit, and 6,000 t/a PMDA unit, the market will come under renewed pressure. The trends in crude oil futures, changes in industrial C10 heavy aromatics supply, and adjustments in crude dianhydride and PMDA market prices will become key factors affecting durene market price movements.