Market Overview: Durene Prices Remain Stable Pre-Holiday, Supply-Demand Tensions to Intensify

Introduction:
In the week before the May Day holiday, domestic durene prices remained largely stable, with the mainstream market price ranging from 32,000 to 35,000 yuan/ton. Supply was mainly dedicated to fulfilling prior orders, while new order negotiations were sluggish, with inquiry prices trending lower. The market is currently characterized by tight spot supply but subdued demand. Major suppliers face no inventory pressure, maintaining a strategy of price stability. After the holiday, supply is expected to remain tight, but limited downstream demand is likely to constrain trading activity, intensifying the supply-demand tug-of-war.

1. Market Review (April 27–30)

Industrial C10 heavy aromatics in East China saw their mainstream price drop to 5,000 yuan/ton during the pre-holiday week, with the weekly average down 266 yuan/ton from the previous week. However, spot supply of durene produced via the C10 route remained tight, and the synthetic durene unit was not operational, prompting market participants to hold prices firm and adopt a wait-and-see stance. Nevertheless, trading in downstream crude pyromellitic anhydride and refined anhydride markets was stagnant, pressuring producer margins. Inquiry activity for durene raw material was weak, limiting transaction volumes and keeping market activity focused on delivery of previously contracted orders.

Price Table (April 27–30):

| Product | Region | Current Avg (yuan/ton) | Previous Avg (yuan/ton) | Change (yuan/ton) |
|---|---|---|---|---|
| Industrial C10 heavy aromatics | East China | 4,975 | 5,241 | -266 |
| High-boiling aromatic solvent SA1500# | East China | 5,700 | 5,780 | -80 |
| Durene | National | 32,000 | 32,000 | 0 |
| Pyromellitic anhydride | Central China | 65,000 | 65,000 | 0 |
| Pyromellitic dianhydride | Central China | 75,000 | 75,000 | 0 |

2. Data Analysis

Domestically, particularly in East China, the durene content in industrial C10 heavy aromatics remained persistently low, leading C10-route durene producers to reduce operating rates. Meanwhile, the synthetic durene unit at Shaanxi Huahaoxuan was shut down for technical upgrades, and units at Jiangsu Zhengdan and Mingquan New Materials remained idle. As a result, overall operating capacity was around 32.65%, with external supply of approximately 750 tons per week, still primarily directed toward fulfilling prior contracts.

3. Post-Holiday Trend Outlook

Entering May, several reforming units (including Yangzi) are scheduled for maintenance, reducing the supply of industrial C10 heavy aromatics. C10-route durene capacity will remain low, and no restart plans have been announced for synthetic durene units. Consequently, spot durene supply will stay tight. However, the downstream crude and refined pyromellitic anhydride markets are expected to trend downward due to demand constraints and other bearish factors, which will negatively impact durene trading activity. As a result, the durene market is likely to experience narrow fluctuations, with most transactions limited to contract customers.

Forecast Data:

| Date | Durene Price (yuan/ton) | Operating Rate | Change (yuan/ton) | Change (%) |
|---|---|---|---|---|
| 2026/4/30 | 32,000 | 32.65% | — | — |
| 2026/5/6E | 32,000 | 31.00% | 0 | 0.00% |