Nearly 65% of Chemical Products Fall Weekly, Coke 6th Round Price Hike Takes Effect
Weekly Industry Report — June 8, 2026
According to SCI99 monitoring data, during the week of May 29 to June 5, 70 of 108 chemical products fell (64.81%), while only 24 rose (22.22%) and 14 held steady (12.96%). Fuel oil led gains at +6.08%, followed by coal tar pitch (+5.24%) and phenol (+4.87%). Liquid chlorine led declines at -74.75%, followed by industrial lithium carbonate (-10.75%) and ethylene oxide (-10.53%). The overall chemical market remained under significant pressure.
Coke Market: 6th Round Hike Takes Effect Today
The coke market showed strength. From late May, concentrated shutdowns and production cuts at Shanxi coal mines tightened coking coal supply, driving pithead coal prices sharply higher. Downstream steel mills maintained high blast furnace iron output with active purchasing. With coking plants' coal and coke inventories both low, coke prices have risen continuously. On June 5, major coking plants initiated a 6th round price hike, scheduled for implementation on June 8 (today), bringing cumulative increases to 300-350 RMB/ton since April.
Plastic Raw Materials: Notable Divergence Across Products
PP market: PP granular and powder prices stable to lower last week. Futures rose then fell. Market sentiment cautious. Weaving industry profitability limited, factory purchasing enthusiasm weak. This week: expected stable to slightly weak.
LLDPE: Prices stable to slightly weaker, 0-50 RMB/ton decline. Multiple petrochemical plants resumed operations, increasing bearish sentiment. Demand remained light, downstream factories hesitant. Short-term LLDPE likely stable to soft.
PA6: High-speed spinning chips East China 11,600-11,800 RMB/ton. CPL 11,100 RMB/ton. Pure benzene FOB Korea $980-990/ton. Caprolactam and PA6 stable for now, but weakening pure benzene exerts pressure on future prices.
Petrochemical Boom Index: 98.13 (Slightly Hot)
The latest petrochemical industry boom index stands at 98.13 (slightly hot), contrasting with widespread declines in the micro-level chemical market, reflecting continued divergence between macro expectations and micro reality. The Zibo chemical price index at 830.95 (-2.18, -0.26%) also confirmed the weakness.
Outlook
Iran's weekend strikes on Israel combined with the coke price hike implementation create two-way impacts on chemical and plastic markets in the near term. Geopolitical risk may boost crude and chemical costs in the short term, but off-season downstream demand continues to pressure individual products. Expect overall weak and range-bound plastic market this week with continued structural divergence. Key focus: Middle East developments, OPEC+ dynamics, and end-user demand recovery.
