Carbon Disulfide Market Intelligence Report (May 27, 2026)

I. Recent Market Quotation Dynamics
1. Domestic Major Producer Quotations (as of May 26, 2026)
| Producer Name | Origin/Delivery Location | Specification | Quotation (CNY/ton) |
|------------------------|---------------------------|------------------------|----------------------|
| Shandong Hongyang Chemical Co., Ltd. | Shandong Province | National Standard | 5,000 |
| Shandong Jinwen Chemical Co., Ltd. | Shandong Province | National Standard, Purity >98% | 5,800 |
| Shanghai Hanyang Chemical Products Co., Ltd. | Zhejiang Province | National Standard | 6,300 |
| Jia’en Chemical (Shandong) Co., Ltd. | Shandong, Henan, and Shanxi Provinces | Distillation Rate ≥96%, National Standard | 10,800 |
| Shandong Yuxuan Chemical Products Co., Ltd. | Shandong Province (Liaocheng City) | National Standard, Purity >98% | 11,350 |
| Liaocheng Xinli New Materials Co., Ltd. | Shandong Province | National Standard, Purity >98% | 8,550 |
| Shandong Langcheng Chemical Co., Ltd. | Shandong Province (Jinan City) | National Standard | 4,930–6,200 |
| Liaocheng Jinxinda New Materials Co., Ltd. | Shandong Province (Liaocheng City) | Purity >99.5% | 6,880 |

2. Price Trend Analysis
- Short-term Fluctuations: From May 18 to May 26, 2026, quotations in the Shandong region exhibited pronounced divergence:
- Low-price Segment (CNY 4,930–5,800/ton): Quotations from Shandong Langcheng, Shandong Hongyang, and Shandong Jinwen remained stable, primarily supplying standard-specification products.
- Mid-to-high-price Segment (CNY 6,880–11,350/ton): Quotations from producers such as Shandong Yuxuan and Jia’en Chemical showed significant volatility. Specifically, Shandong Yuxuan’s quotation rose from CNY 9,530/ton on May 18 to CNY 11,350/ton on both May 22 and May 26—a 19.1% increase.
- Regional Disparities: The quotation in Zhejiang Province (CNY 6,300/ton) is lower than the mid-to-high price segment in Shandong but higher than certain basic-specification quotations, reflecting regional differences in supply-demand equilibrium.

II. Market Driving Factor Analysis
1. Policy and Capacity Adjustments
- Rising Industry Entry Thresholds: Implementation of the Ministry of Industry and Information Technology’s (MIIT) “Access Conditions for the Carbon Disulfide Industry” has led to the complete phase-out of outdated production capacities (e.g., charcoal- and coke-based methods). Natural gas-based production has become the dominant technology, with market share consolidating toward environmentally compliant enterprises such as Liaoning Ruixing and Shanghai Baijin.
- Intensifying Environmental Pressures: Stricter total pollutant emission controls in East China impose high environmental compliance costs on new entrants, further solidifying the competitive advantages of incumbent producers.

2. Supply-Demand Dynamics
- Supply Side: Gradual commissioning of new natural gas-based capacity is underway; however, short-term supply fluctuations persist due to technical upgrades or environmental rectifications at select facilities (e.g., Shandong Yuxuan’s sharp price hike may reflect localized supply tightness).
- Demand Side: Downstream demand remains stable—viscose fiber accounts for 63% of total consumption, and rubber additives account for 22%. However, export volumes have declined markedly (1,425 tons from January to October 2020, down 81% versus 2015), intensifying domestic market competition.

3. Cost and Profitability Structure
- Raw Material Prices: Fluctuations in natural gas and sulfur prices directly impact production costs. However, no significant recent increases have occurred; thus, quotation differentials among producers are driven more by process efficiency and environmental investment levels.
- Profit Divergence: Low-price producers (e.g., Shandong Langcheng at CNY 4,930/ton) may sustain profitability through economies of scale or co-production of by-products (e.g., hydrogen sulfide used for dimethyl sulfoxide synthesis), whereas high-price producers (e.g., Shandong Yuxuan at CNY 11,350/ton) likely rely on premium-grade products or customized services.

III. Future Outlook
1. Price Trends
- Short Term: The mid-to-high price range (CNY 8,000–11,000/ton) may persist due to localized supply constraints or ongoing environmental rectifications; meanwhile, the low-price range (CNY 5,000–6,000/ton) is expected to remain stable, supported by baseline demand.
- Medium-to-Long Term: As natural gas-based capacity continues expanding, industry-wide average production costs are projected to decline, gradually pulling average market prices toward the CNY 6,000–8,000/ton range. High-purity grades (e.g., >99.5%) will likely retain a sustained premium.

2. Industry Structure Evolution
- Increasing Concentration: Environmental barriers and technological thresholds will accelerate the exit of small- and medium-sized producers, driving market concentration toward leading enterprises (e.g., Shanghai Baijin, Liaoning Ruixing).
- Vertical Integration Opportunities: Producers are increasingly leveraging hydrogen sulfide by-products to manufacture high-value-added derivatives—including dimethyl sulfoxide and sodium hydrosulfide—enhancing integrated competitiveness and potentially shifting profit centers downstream.

3. Risks and Opportunities
- Risks: Further tightening of environmental regulations could trigger temporary shutdowns and rectifications among certain producers, exacerbating short-term supply volatility; continued weakness in export markets may intensify domestic price competition.
- Opportunities: Adoption of smart manufacturing technologies (e.g., 5G-enabled remote monitoring and automated production systems) can reduce operational costs and significantly improve safety and environmental performance—becoming a critical differentiator in competitive positioning.