Rising 350% in 20 days! The 'price surge' of 2026 is here!

Since the beginning of 2026, domestic commodity prices have experienced a significant increase across the board, with a particularly prominent rise in the upstream core raw materials of the coating industry chain: styrene has risen by over 15% in a single month, butyl acrylate has remained at a high of 7000 yuan/ton, and the price of sulfuric acid, a key raw material for titanium dioxide, has skyrocketed by 111% compared to the beginning of the year. The price of reducing materials skyrocketed from about 20000 yuan/ton on January 20, 2026 to about 70000 yuan/ton on February 9, a 350% increase in 20 days, driven by supply contraction and cost transmission.
The continuous and rapid rise in raw material prices has brought rigid cost pressure to downstream industries such as coatings and dyes, forcing related product prices to enter a centralized upward channel.
The cumulative increase in dye prices exceeds 5000 yuan/ton
Affected by the continuous surge in prices of reducing agents, the domestic dye industry has ushered in a new round of concentrated price increases. The three major leading enterprises have successively raised product prices, and the cost transmission effect is significant.
Starting from February 9th, Fulaianth will implement price adjustments for its dye products: 9 products including Disperse Black ECT (300%) will be increased by 2000 yuan per ton, and Tibetan Blue HW-SR will be increased by 3000 yuan per ton, with an overall increase of about 10% for the products involved.
Zhejiang Longsheng was the first to issue a price adjustment notice on February 8th, with a unified increase of 2000 yuan/ton for main varieties such as dispersed black. Zhejiang Longsheng stated that this price adjustment is directly driven by the rise in the price of reducing materials and is a cost following adjustment. At the same time, it was mentioned that the current mainstream varieties of reactive dyes have relatively moderate price increases, but some small varieties have seen significant increases. The prices of key intermediates (reducing agents, 6-chlorine, etc.) have risen significantly, for example, the quotation for reactive indigo has been raised from 150000 yuan/ton to 180000 yuan/ton.
Runtu Shares has followed up with price increases, and its dispersed dye black price has recently risen by about 5000 yuan/ton. Runtu Shares pointed out that reducing agents, as the core intermediate of dispersed dyes, have been at a low level for a long time. Since late January 2026, they have started to rise rapidly, and the current market price has risen to around 70000 yuan/ton, becoming the core driving force behind the current dye price increase.

Rise of over 93% Bromine prices skyrocket
Since 2026, bromine prices have experienced a counter trend surge during the traditional off-season: prices have skyrocketed from 22000 yuan/ton to 42500 yuan/ton, with a cumulative increase of over 93%, making the market extremely rare.
The significant increase in bromine prices in this round is driven by the deep contraction of the global supply side and the steady recovery of the demand side. Supported by the continued tight supply and demand pattern, the price increase has a solid fundamental logic.
Shortage of supply, closure and suspension of reports, PVDF prices remain high
As the Spring Festival approaches, the domestic PVDF market is showing an overall trend of tight supply and differentiated pricing. Most manufacturers have low inventory levels, and downstream pre holiday stocking is concentrated and released, further exacerbating the tight supply situation; Due to the high cost of raw materials and the increasing bullish expectations of enterprises for the future, some companies have chosen to shut down their trading, suspend new order quotations, and only execute previous orders, leading to a significant increase in market wait-and-see sentiment.
From a category perspective, there is a significant differentiation in price performance:
Coating grade PVDF: The actual average transaction price is about 54000 yuan/ton, and some companies have quoted up to 60000 yuan/ton. However, high priced sources have weak transactions, and downstream willingness to accept high prices is weak.
Lithium grade PVDF: The trend is relatively strong, and with the steady growth of demand in the energy storage field and strong support from raw material costs, the market maintains a stable to strong operation.
At present, the mainstream price range for PVDF in China is 45000 to 65000 yuan/ton for lithium battery grade and 40000 to 60000 yuan/ton for coating grade. Due to differences in downstream customer structure, order volume, and cooperation models, the actual transaction prices of various channels vary significantly.

Tungsten powder rises by 50000 yuan/ton daily
The supply side of the domestic tungsten industry chain continues to tighten, and the environmental control measures in core production areas such as Hunan and Jiangxi are constantly increasing. Coupled with the routine shutdown of mines in winter and the synchronous implementation of environmental maintenance work by smelting enterprises, the short-term release of tungsten production capacity is significantly restricted, and the circulation of goods in the spot market is becoming increasingly tight, further highlighting the supply-demand imbalance pattern.
On February 9, 2026, tungsten powder prices experienced a significant increase, with the average price of Yangtze River comprehensive tungsten powder reported at 1645000 yuan/ton, a surge of 50000 yuan/ton from the previous trading day. The daily increase was impressive, continuing the recent upward trend.
At the macro level, the driving force for price increases continues to be released. In January 2026, the purchasing price index of major raw materials in the manufacturing industry rose to 56.1%, with the price index of non-ferrous metal smelting and rolling processing industry breaking through 55%. The overall upward trend of upstream raw materials is clear, providing solid macro support for the sustained rise of tungsten powder prices, and further strengthening the industry's expectation of price increases.
The price of dichloromethane has increased by nearly 10% compared to the beginning of the year
At the beginning of 2026, the domestic dichloromethane market bid farewell to its previous weakness. Driven by strong cost support and reduced supply, the price stabilized and rebounded from a low level, showing a regional oscillation upward pattern.
As of February 6th, the average price of dichloromethane in Shandong Province was reported at 1860 yuan/ton, an increase of 2.34% compared to early February and a cumulative increase of 9.57% compared to the beginning of the year. The upward trend is gradually becoming clear.

                                                
Aluminum prices hit a new high! A ton skyrocketed by over 2000 yuan!
Since November 2025, domestic aluminum prices have been continuously rising, and the upward trend has further accelerated after New Year's Day, with a cumulative increase of over 2000 yuan per ton. On January 13, 2026, the main contract price of Shanghai Aluminum exceeded 25000 yuan/ton for the first time, setting a new historical high.

As of February 5, 2026, the main futures of Shanghai Aluminum closed at 23455 yuan/ton, an increase of about 7.94% from 21730 yuan/ton in early December 2025; The international market is strengthening synchronously, with Lunan Aluminum rising from $2800/ton in early December 2025 to $3059/ton in early February 2026, an increase of about 9.25%, successfully stabilizing at the $3000 mark.
Lithium carbonate prices are rising! Copper prices are rising!
On February 9th, the prices of domestic lithium battery recycling related products rose across the board, and the lithium carbonate sector ended its previous weak trend and officially rebounded, while the metal category rose simultaneously.
Lithium carbonate category has stopped falling, stabilized, and rebounded strongly: the average price of battery grade lithium carbonate is reported at 135500 yuan/ton (including tax), an increase of 1000 yuan/ton from the previous trading day; The average price of industrial grade lithium carbonate is reported at 132000 yuan/ton (including tax), with a synchronous rebound of 1000 yuan/ton, indicating clear signs of stabilization in the sector.
Metal categories are strengthening synchronously: the average price of SMM1 # electrolytic copper is reported at 101555 yuan/ton (including tax), with a daily increase of 1950 yuan/ton; The average price of SMM A00 aluminum is reported at 23400 yuan/ton (including tax), rising by 260 yuan/ton, and copper and aluminum prices are also recovering.
Tungsten price skyrockets by 254.75%
The prices of tungsten products have experienced a sharp rise across the board, with a general increase of over 45% since the beginning of the year, and some varieties have even exceeded 50% in price, showing an extremely sharp upward trend.

In terms of domestic market:
65% white tungsten concentrate is priced at 674000 yuan/ton, an increase of 46.8% from the beginning of the year;
Ammonium paratungstate (APT) quoted 990000 yuan/ton, an increase of 47.8% from the beginning of the year;
The European market has risen significantly in sync:
The price of APT in Europe is reported at $1100 to $1398 per ton, equivalent to RMB 676000 to RMB 859000 per ton, an increase of 35.8% from the beginning of the year.
According to Wind data, the average price of 65% black tungsten concentrate in China reached 510600 yuan/ton in January, an increase of 26.69% month on month and a significant increase of 254.75% year-on-year. The upward trend of tungsten prices has been fully established.
International urea prices increase
The international urea price continues to rise strongly, and the market generally expects India to launch a new round of urea import bidding, significantly boosting market confidence. The international price increase in this round has exceeded market expectations.
Small particle urea (FOB/CFR)
China's bulk small particles: 3015-3119 yuan/ton, increased by about 100-170 yuan/ton
Black Sea Small Particle Port: 2772-2876 yuan/ton, increased by 55-70 yuan/ton
Baltic small particle ports: 2737-2841 yuan/ton, increased by 48-70 yuan/ton
Small particle ports in the Middle East: 3222-3347 yuan/ton, increased by 170-230 yuan/ton
Brazilian small particle CFR: 3049-3153 yuan/ton, low-end increased by 100-170 yuan/ton
Large particle urea (FOB/CFR)
Iran's large particle ports: 2945-2994 yuan/ton, increased by 13-30 yuan/ton
Large particle ports in Egypt (Europe): 3347-3500 yuan/ton, increased by 55-170 yuan/ton
Brazilian large particle CFR: 3119-3292 yuan/ton, increased by 100-240 yuan/ton
Southeast Asian large particle CFR: 2222-3326 yuan/ton, increased by 70-100 yuan/ton
China's large particle ports: 3119-3188 yuan/ton, increased by 140-170 yuan/ton
Sulfur prices skyrocket by 250%, reaching a 3-year high!

Entering 2026, the domestic sulfur market continues to rise steadily. As of January 30th, the average price of solid sulfur in China was reported at 4126 yuan/ton, a month on month increase of 459 yuan/ton, or 12.51%; The average price of liquid sulfur was reported at 4099 yuan/ton, a month on month increase of 477 yuan/ton, or 13.17%, both reaching new highs in nearly three years.

From the annual trend, the current sulfur price is in the historical high range, with an increase of more than 250% compared to the low point of 1637.67 yuan/ton in 2025, ushering in a strong structural bull market in the industry.
Since February, domestic sulfur prices have declined. As of February 6th, the average price of solid sulfur was 3889 yuan/ton, a decrease of 237 yuan/ton from January 30th; The average price of liquid sulfur is 3851 yuan/ton, a decrease of 247 yuan/ton from January 30th. However, based on the price trend in the past year, sulfur prices are still at a high level.
In 2026, China will focus on promoting a reasonable rebound in prices, which is one of the important considerations of monetary policy. The meeting proposed to improve the contradiction between strong supply and weak demand through measures such as expanding domestic demand and rectifying "internal competition". At the same time, it was clearly stated that price recovery and economic growth should be listed as the core policy goals. Under the promotion of national policies, the price increase of various commodities will become mainstream in 2026, which means that the operating costs of coating enterprises will increase by a certain proportion. Therefore, how to solve the cost increase will be the biggest challenge faced by coating and other enterprises.