Hydrogen Peroxide: Recent Commodity Market Intelligence Report

I. Price Trends
- Recent Price Volatility: In May 2026, the hydrogen peroxide market exhibited narrow-range oscillation. At the beginning of May, the national average price stood at RMB 693 per metric ton; by May 27, it had risen to RMB 696 per metric ton—a modest increase of 0.48%. During the month, prices briefly peaked near RMB 700 per metric ton but retreated slightly ahead of month-end.
- Regional Price Disparities: Significant regional price variations were observed. For instance, on May 19, the mainstream market price for 27.5% industrial-grade hydrogen peroxide in Shandong Province was RMB 750 per metric ton, while that for 50% grade was RMB 1,620 per metric ton. In Fujian Province, the quoted price for industrial-grade 27.5% hydrogen peroxide was RMB 1,300 per metric ton—identical for both standard and premium grades.

II. Supply-Demand Dynamics
- Supply Side:
- Plant Maintenance: Several hydrogen peroxide producers conducted scheduled plant shutdowns for maintenance during May. Specifically, Dongfang Hongye’s 40,000-ton-per-year facility ceased operations on May 21 for an 11-day maintenance period; Zhongyan Changhua’s 80,000-ton-per-year facility was scheduled to halt production on May 27 for approximately one week; and Hunan Shuangyang High-Tech’s Yueyang base facility was set to undergo a 5-day maintenance shutdown starting May 28. These maintenance activities contributed to minor supply fluctuations.
- Increased Availability: Hydrogen peroxide supply expanded in certain regions—for example, water enterprises in the Luxi and Lubei areas of Shandong began external sales, further augmenting market availability.
- Demand Side:
- Downstream Industry Demand: Key downstream sectors for hydrogen peroxide include caprolactam, papermaking, and propylene oxide (PO). Recently, consumption from major downstream users—particularly caprolactam and PO plants—declined, with lower operating rates dampening overall demand for hydrogen peroxide.
- Seasonal Demand: Following the Dragon Boat Festival holiday, baseline (non-discretionary) demand for hydrogen peroxide is expected to rise, potentially providing supportive price momentum.

III. Import-Export Situation
- Import Volume Increase: In April 2026, China’s hydrogen peroxide imports surged by 53% year-on-year and rose 6.43% month-on-month. This notable expansion in import volume intensified supply-side pressure in the domestic market, exerting a mild bearish influence on spot prices.

IV. Market Developments & Key Events
- Trading Activity: Market transaction volumes fluctuated throughout May. Early in the month, increased terminal demand coupled with reduced supply pressure spurred higher trading activity and upward price movement. Through mid-May, trading volumes remained elevated and prices trended upward overall. However, toward month-end, the slight price correction may have tempered transaction enthusiasm.
- Industry Conference: To advance green, low-carbon, efficient, safe, and sustainable development across the hydrogen peroxide industry, relevant organizations hosted the National Hydrogen Peroxide Industry Chain Technology Innovation and Industrial Development Conference. The event addressed current industry challenges, hot topics, and long-term strategic trends.

Analysis & Outlook

- Short-Term Price Trend: Amid ongoing plant maintenance and localized supply increases, hydrogen peroxide prices have recently oscillated within a narrow range. Post–Dragon Boat Festival, rising baseline demand could lend modest support to prices; however, increased imports and relatively weak downstream demand may continue to cap upside potential.
- Medium-to-Long-Term Trend: From a supply-demand perspective, industry capacity continues to expand, whereas demand growth remains comparatively moderate. Looking ahead, gradual commissioning of new capacity—combined with steady demand growth from downstream sectors—may gradually bring the market toward equilibrium. Nevertheless, tightening environmental standards and emerging demand from new energy applications may open fresh growth avenues.

Forecast

- Price Forecast: In the near term, hydrogen peroxide prices are expected to remain in narrow-range oscillation. A modest price uptick may occur following the Dragon Boat Festival due to seasonal baseline demand recovery. Over the medium to longer term, however, downward pricing pressure is likely to persist.
- Supply-Demand Forecast: As newly commissioned capacities progressively enter operation and downstream demand grows steadily, the hydrogen peroxide market is projected to move toward a more balanced supply-demand relationship. Nonetheless, growing import volumes and subdued downstream demand may exert persistent moderating effects on market equilibrium.