In October 2025, the price trend of polyester filament will first decrease and then increase, showing a steady adjustment trend. As of October 30th, the mainstream polyester filament factories in Jiangsu and Zhejiang have quoted POY (150D/48F) at 6400-6700 yuan/ton, polyester DTY (150D/48F low elasticity) at 7750-8000 yuan/ton, and polyester FDY (150D/96F) at 6500-6800 yuan/ton.

price trend
Downward trend in the first ten days: After the National Day and Mid Autumn Festival holidays, the polyester filament market experienced sluggish trading, and production enterprises quickly accumulated inventory. As of October 9th, the average inventory of polyester filament sample enterprises reached 22 days, an increase of 4 days from before the holiday. From October 13th to 17th, the overall market showed a weak downward trend, with the price center of gravity shifting downwards. On October 20th, the prices of polyester POY, FDY, and DTY all experienced varying degrees of decline. The price of polyester POY was 6750 yuan, with a daily increase and decrease of -2.61%. The price of polyester FDY was 6826.67 yuan, with a daily increase and decrease of -2.52%. The price of polyester DTY was 7931.25 yuan, with a daily increase and decrease of -1.86%.
Mid month stabilization and rebound: On October 23rd, due to the rise in international oil prices and the improvement of the textile market, some polyester factories reduced their discounts on polyester filament or raised their prices by 50-100 yuan/ton. On October 24th, Rongsheng Petrochemical partially increased DTY by 50-100, POY and FDY both increased by 50, and some FDY increased by 100.
Shock finishing in the last ten days: On October 30, the overall shock finishing of polyester filament was carried out, with scattered small batch transactions in the majority and stable price adjustment. The mainstream quotation of POY150D/48F was 6450-6500 yuan/ton of cash, and the mainstream quotation of DTY150D/48F was 7750-7850 yuan/ton of cash. The price of FDY was increased due to losses, mainly reflected in the fine wires.
market analysis
Cost factor: From October 22nd to 23rd, international oil prices significantly rebounded, leading to an increase in polymerization costs, which compressed the profit margins of polyester filament production enterprises and significantly increased their willingness to raise prices, providing support for polyester filament prices.
Supply and demand relationship: In terms of supply, the industry had high inventory in the early stage. As of October 17th, the weaving factory’s raw fabric inventory was significantly higher than the same period last year, making it difficult for the trading volume of polyester filament to continue to rise. In terms of demand, the recovery of demand during the peak season of “Golden September and Silver October” in the early stage was weak, and downstream weaving enterprises were cautious in procurement, mainly focusing on replenishing inventory for essential needs. But in late October, the arrival of cold air caused the demand for winter fabrics to begin to pick up. On October 21st, the average production and sales rate of polyester filament sample enterprises soared to 367.9%, and by the end of the 27th, the average production and sales rate of sample enterprises also reached 218%. The boost in demand has played a certain role in supporting prices.
Market mentality: With the improvement of the market situation, polyester manufacturers have adjusted their quotations in order to seize market share. The market mentality has improved, and some enterprises have increased their willingness to raise prices. However, due to the overall high inventory, there is still a cautious wait-and-see attitude downstream

Price trend:

According to the Business Society’s commodity market analysis system, as of October 29, the spot price of electrolytic nickel was reported at 122,116 yuan per ton, showing a slight monthly decline of 0.31% and a year-on-year decrease of 2.06%. Throughout the month, the price trend was influenced by both policy expectations and the realities of supply-demand fundamentals, resulting in overall narrow fluctuations.
Indonesia’s Mining Policy Adjustment: The validity period of mining quotas has been shortened from three years to one year, sending a clear signal of the government’s strengthened supply regulation. This policy change initially sparked expectations of supply tightening after the holiday period, driving nickel prices up by 1.22%.
Improved International Economic and Trade Relations: The positive progress in high-level economic and trade dialogues and follow-up consultations between China and the United States has effectively alleviated concerns about the escalation of trade frictions, providing support to market sentiment.
Positive economic data both domestically and internationally: China’s GDP maintained steady growth of 5.2% in the first three quarters, while the U.S. CPI data fell below expectations, sparking interest rate cut forecasts, collectively forming a relatively favorable macroeconomic environment.
Supply side:
Cost support emerges: The Indonesian nickel ore reference price rose by $40.33 per dry ton month-on-month, reflecting tight nickel ore supply and providing bottom support for nickel prices. The Indonesian Nickel Price Index (INPI) shows stable or rising prices for nickel processing products, aimed at maintaining nickel price stability.
Inventory pressure is significant: LME nickel inventories surged by 20,394 tons within the month to hit a record high of 251,706 tons, while SHFE nickel inventories rose sharply by 6,616 tons to 31,433 tons. The oversupply situation remains unchanged, exerting downward pressure on nickel prices.
Import pressure persists: In September, ferro-nickel imports surged by 47.60% year-on-year, driven primarily by increased supplies from Indonesia and Brazil, exacerbating domestic oversupply expectations.
Demand side:
The stainless steel sector remains sluggish: The industry faces a “peak season without peak performance” dilemma, with weak transactions and continuous price declines. On October 29, the benchmark price of stainless steel on Business Society was 12,900 yuan per ton, down 1.19% for the month. Reduced production by multiple steel mills has intensified the weakening demand for nickel.
The new energy sector is poised for long-term growth but faces short-term pressure: In September 2025, the installation volume of ternary batteries decreased by 10% year-on-year, with market share shrinking to 17.5%. The cost advantage of lithium iron phosphate batteries continues to squeeze nickel demand. In 2026, the preferential purchase tax policy for new energy vehicles will phase out, leading to an expected slowdown in sales growth. However, breakthroughs in all-solid-state battery technology may drive long-term demand for high-nickel ternary materials, providing potential support for nickel prices.
Market Outlook:
In the short term, nickel prices are expected to remain in a fluctuating pattern: upward constraints include global high inventories and persistently growing supply, while downward support comes from rising raw material costs and long-term demand expectations for new energy.

The current domestic melamine market is showing a narrow consolidation trend. As of October 28th, the benchmark price of melamine in Shengyi Society was 5450.00 yuan/ton, a decrease of 1.8% compared to the beginning of this month (5550.00 yuan/ton). The cost of raw materials and supply side provide some support, but weak downstream demand is the main factor restricting the development of the market.

Overall pattern: The market is characterized by a supply-demand game and a stalemate operation. On the one hand, the price of raw material urea increased at the beginning of this week. As of October 28th, the benchmark price of urea in Shengyi Society was 1625.00 yuan/ton, an increase of 0.23% compared to the beginning of this month (1621.25 yuan/ton), which supported the cost of melamine. On the other hand, downstream factories have low purchasing enthusiasm and the demand remains flat, making it difficult for market prices to rise significantly. market dynamics
Enterprise dynamics: From the table, it can be seen that different enterprises have differentiated their pricing strategies. This reflects that in the current market environment, enterprises mainly adjust prices flexibly based on their own inventory, orders, and location, and a unified trend of upward or downward trend has not yet formed.
Supply side: It is necessary to pay attention to the start-up situation of each enterprise. Data shows that the weekly operating rate of the industry is expected to slightly increase, which may increase market supply
Demand side: The downstream procurement situation is the key to determining whether the price can be stable. If demand continues to be weak, the market will find it difficult to break free from the consolidation pattern.
Future outlook: It is expected that the melamine market will continue to maintain a stable and consolidating trend in the short term. The key to market trends still lies in the changes between supply and demand:

1. Trend Analysis

According to monitoring data from Business Society, copper prices fluctuated upward in October. At the beginning of the month, the price was 83,143.33 yuan per ton, and by the end of the month, it rose to 88,095 yuan per ton, marking an overall increase of 5.96% and a year-on-year growth of 15.1%.
According to the spot-futures chart from Business Society, the copper spot price in October initially exceeded the futures price, then fell below it, and finally surpassed the futures price again by month-end. The main contract reflects the expected price two months ahead, indicating a volatile outlook for copper’s future price.
According to LME inventory data, LME copper stockpiles saw a slight decline in October. By the end of the month, LME copper inventory stood at 135,975 tons, down 4.1% from the beginning of the month.
Macro Perspective: In September, the CPI rose by 3% year-on-year, slightly below expectations. The probability of the Federal Reserve cutting rates by 25 basis points is as high as 96.7%, with over 94% chance of another 50-basis-point cut in December. The low-interest-rate environment reduces corporate financing costs and stimulates copper demand. The approval of China’s 15th Five-Year Plan adds further positive momentum, as profits of nationally listed industrial enterprises grew by 3.2% from January to September. Market confidence in the growth prospects of the world’s top copper consumer is robust. The U.S.-China trade talks in Kuala Lumpur reached a “preliminary consensus,” leading to a significant rebound in market risk appetite.
Supply side: The Grasberg mine in Indonesia continues to shut down (the world’s second-largest copper mine), and production in Antofagasta, Chile, may only reach the lower end of the 660,000 to 700,000-ton range by 2025. The ICSG has revised its forecast for copper supply growth in 2025 downward from 2.3% to 1.4%, while Citigroup and UBS predict minimal supply increases this year. The contraction in supply directly drives up costs.
Downstream sector: Demand-side divergence, characterized by “weak traditional and strong emerging sectors”: Emerging industries such as new energy vehicles and photovoltaics maintain stable growth, while traditional consumption sectors (e.g., real estate, building materials, infrastructure) show sluggish growth. High copper prices dampen spot demand, leading to a cautious outlook among downstream procurement enterprises.
According to the annual price comparison chart from Business Society, over the past five years, copper prices in November have mostly declined more than risen, with the first half of the month showing strength and the second half experiencing a drop.
In summary, the improvement in macroeconomic margins and cost-side disturbances provide dual support, suggesting that copper prices may continue to show a strong upward trend in the short term. However, attention should be paid to the early arrival of the end of the month and the off-season, as well as the dampening effect of high copper prices on downstream demand. It is expected that copper prices will primarily fluctuate within a wide range in November.

According to the analysis of the Business Society’s market monitoring system, on October 28th, the domestic market price of silicon metal # 441 was referenced at 9640 yuan/ton, a decrease of 70 yuan/ton or 0.72% from October 1st (market price of silicon metal # 441 was 9710 yuan/ton).

The weak market operation in October resulted in a slight decrease in the center of gravity of prices
From the commodity market analysis system of Shengyi Society, it can be seen that in October, the overall market situation of domestic silicon metal spot market showed a weak and downward trend, and the market price center slightly fell. On October 27th, the market price reference for Metal Silicon Oxygen # 553 in East China was around 9300-9400 yuan/ton, and the market price reference for Metal Silicon 441 in Kunming was around 9700-9900 yuan/ton The market price reference for metal silicon # 441 in Huangpu Port area is 9500-9700 yuan/ton, in Tianjin Port area it is 9400-9600 yuan/ton, and in Xinjiang area it is around 8600-8800 yuan/ton.
Analysis of Market Factors
Supply side: Currently, there is a significant differentiation in the supply side of silicon metal. As the dry season approaches in the southwest region, silicon metal production enterprises in Yunnan and Sichuan are gradually reducing production. Some enterprises are expected to further reduce their load by the end of this month, and the overall operating rate in the southwest region is expected to continue to decrease. However, the overall operating rate in the northwest region has increased, and the resumption of work by large factories in Xinjiang has driven an overall increase in regional operating rates. After complementing the supply side with the southwest region, the overall supply pressure in the market still exists.
In terms of demand, the overall downstream demand for metallic silicon has shown signs of looseness. Firstly, the overall production of downstream organic silicon plants has been reduced, which has provided insufficient support for the demand for raw material metal silicon procurement. Secondly, although the overall production of downstream polycrystalline silicon market has slightly increased, there is a strong wait-and-see sentiment in the market, and caution is exercised in raw material procurement. Finally, only the downstream aluminum alloy market has stable production, coupled with a small amount of exports providing slight support for the procurement of raw materials for silicon metal.
Market analysis in the future
At present, the cost support of metal silicon is still acceptable, forming a bottom support for the market situation. However, high supply and low demand still reveal the supply-demand game. Business Society’s metal silicon data analyst predicts that in the short term, the domestic metal silicon market will mainly operate in a range of fluctuations, and specific changes in supply and demand news need to be closely monitored.

Price Trend: (10.18-10.24)

According to the monitoring of the commodity market analysis system of Shengyi Society, as of October 24th, spot electrolytic nickel was reported at 123033 yuan/ton, with a slight increase of 0.37% during the cycle, but still a year-on-year decrease of 3.05%. The game between macro factors and weak fundamentals has affected the narrow range fluctuation trend of domestic spot electrolytic nickel prices.
On October 18th, high-level economic and trade officials from China and the United States had a phone call and agreed to hold a new round of consultations as soon as possible, easing market concerns about the escalation of trade frictions and providing some support for nickel prices. However, LME continued to increase inventory and suppress, resulting in a slight decrease in nickel prices on the 20th.
On October 21st, China’s GDP for the first three quarters increased by 5.2% year-on-year, indicating a positive economic outlook and driving a single day rebound in nickel prices.
The Fourth Plenary Session of the 20th Central Committee, held from October 20th to 23rd, proposed goals such as high-quality development and technological self-reliance during the 15th Five Year Plan period. The market has expectations for subsequent domestic demand stimulation and industrial policies, which will drive up nickel prices on the 24th.
Supply side:
Enhanced cost support: The reference price for the second phase of nickel ore in Indonesia in October increased by $40.33 per dry ton compared to the previous month, reflecting a tight global supply and demand for nickel ore and providing cost support for nickel prices.
Small accumulation of inventory: LME nickel inventory increased by 324 tons to 250854 tons, while the previous period’s inventory decreased by 232 tons to 26810 tons. The pattern of oversupply still exists, which continues to suppress the upward space of nickel prices.
Increased import pressure: In September 2025, China’s nickel iron imports increased significantly by 47.60% year-on-year, mainly from Indonesia and Brazil, exacerbating expectations of domestic oversupply.
Demand side:
Weak demand for stainless steel: The stainless steel market is showing a trend of “high production capacity and weak inventory reduction”. On October 24th, the benchmark price of stainless steel in Shengyi Society was 12975 yuan/ton, a decrease of 0.48% during the week. Insufficient support for nickel prices.
Although the new energy sector is a long-term growth point, its short-term impact on nickel demand is limited.
Future outlook:
The current nickel market presents a fundamental pattern of strong supply and weak demand. Although rising costs and macroeconomic policy expectations provide short-term support for prices, high inventory continues to suppress upward price potential. It is expected that nickel prices will maintain a weak and volatile trend in the short term without significant changes in the external environment.

According to the price data from Shengyi Society, on October 23, 2025, the prices of some varieties of polyester filament were basically stable, while some varieties had individual price adjustments. Specific negotiations will be conducted for actual orders.

The polyester filament market showed an overall weak downward trend in the previous week (October 13-17), with a slight shift in price focus. As of October 17th, the mainstream polyester filament factories in Jiangsu and Zhejiang have quoted POY (150D/48F) at 6400-6700 yuan/ton, polyester DTY (150D/48F low elasticity) at 7750-8000 yuan/ton, and polyester FDY (150D/96F) at 6500-6800 yuan/ton. On October 20th, the prices of polyester POY, FDY, and DTY all experienced varying degrees of decline. The price of polyester POY was 6750 yuan, with a daily increase and decrease of -2.61%. The price of polyester FDY was 6826.67 yuan, with a daily increase and decrease of -2.52%. The price of polyester DTY was 7931.25 yuan, with a daily increase and decrease of -1.86%.
As of noon on October 23, 2025, WTI crude oil prices were trading around $58.2 per barrel, an increase from the previous day. Early morning data showed that the latest price of WTI crude oil futures was $59.86 per barrel, with a rise or fall of 0.81%; The latest price of Brent crude oil futures is $64.04 per barrel, with a fluctuation of -0.48%. On the previous day (October 22), international oil prices significantly rebounded. The price of light crude oil delivered by WTI in December was reported at $58.50 per barrel, an increase of 2.2%; The price of Brent crude oil for delivery in December was reported at $62.59 per barrel, an increase of 2.07%.
According to the news on October 23rd, the arrival of cold air has led to a rebound in demand for winter fabrics, supporting the order side. The demand for essential orders has driven up production and sales volume. On the end of October 21st, the average production and sales rate of polyester filament sample enterprises soared to 367.9%, and downstream users’ willingness to stock up has increased, which has a certain boosting effect on prices. However, in the previous period, downstream weaving enterprises were cautious in their procurement, mainly focusing on replenishing inventory for essential needs. The recovery of demand during the peak season of “Golden September and Silver October” was weak, and the inventory of raw fabrics remained high. The total number of new orders did not show a significant increase, which suppressed the rise in polyester filament prices.
It is expected that the price of polyester filament will maintain a strong and volatile trend in the short term, but the upward space may be limited. With the arrival of cold air, the demand for winter fabrics has begun to pick up. On October 21st, the average production and sales rate of polyester filament sample enterprises soared to 367.9%. If demand continues to release, it will provide some support for prices. Some varieties’ prices may stop falling and stabilize, but the overall possibility of a significant increase is relatively small.

Recently, the domestic melamine market has shown a narrow range oscillation pattern under the imbalance of supply and demand. The interweaving of positive and negative factors in the market leads to a lack of clear direction in prices, resulting in fluctuations within a narrow range.

The overall market price is in the low range of the past year. Taking the benchmark price of Shengyi Society as an example, as of October 22, the price was 5512.50 yuan/ton, still down 0.68% compared to the beginning of this month. The ex factory price of atmospheric pressure process is generally within the range of 4900-5250 yuan/ton.
1. Short term local positive news:
Occasional supply side contraction: For example, the Sichuan plant (with a production capacity of 50000 tons) shut down on October 21, resulting in a slight increase of 100 yuan/ton in its factory quotation to 5200 yuan/ton. The planned or temporary maintenance of these individual enterprises will provide temporary support for the supply and mentality of the local area.
2. Long term fundamental negative:
Downstream demand continues to be weak: The main downstream of melamine (about 60%) is the building materials industry closely related to real estate, such as artificial boards. The current sluggish real estate industry has directly suppressed the substantial demand for melamine.
Weakened cost support: The price of the main raw material urea fell month on month in the third quarter of 2025. As of October 22, the benchmark price of urea in Shengyi Society was 1570.00 yuan/ton, a decrease of 3.16% compared to the beginning of this month (1621.25 yuan/ton). Unable to provide effective and solid support for the price of melamine from the cost side, resulting in the continuous squeezing of the profit margin of melamine enterprises.
Overall, the narrow fluctuations in the current melamine market and the partial benefits brought by plant shutdowns are not as significant as the fundamental negative effects of long-term overcapacity and weak demand.

Market situation:

In late October 2025, the acrylic acid market experienced a downturn and the overall atmosphere was bearish. The core market characteristics can be summarized as: cost support collapse, supply pressure still exists, and downstream demand remains weak, all of which together lead to a downward trend in prices. As of October 21st, the benchmark price of acrylic acid in Shengyi Society was 7133.33 yuan/ton, an increase of 0.70% compared to last week (7183.00 yuan/ton).
Cost side:
The fundamental driving force behind market decline comes from upstream. The market price of the main raw material propylene continues to decline. As of October 21st, the benchmark price of propylene in Shengyi Society was 6195.75 yuan/ton, a decrease of 5.31% compared to the beginning of this month (6543.25 yuan/ton). This has caused a significant shift in the production cost center of acrylic acid, losing its anchoring effect on prices from the source of the industrial chain. When production costs no longer constitute a rigid constraint, manufacturers have greater flexibility and room for concessions in pricing and shipping strategies.
Supply side:
The overall operating load of the industry remains stable, while news of the planned restart of facilities in Lanzhou and other places is coming from the market. This indicates that the supply of goods in the future market may further increase, exacerbating the pressure on the supply side.
Demand side:
This is the biggest pain point in the current market. Downstream industries (such as coatings, adhesives, SAP, etc.) generally adopt conservative strategies, and “essential procurement” has become mainstream. They mainly rely on executing existing contracts or digesting their own inventory, and their willingness to actively enter the market for stocking is extremely low. Although the downstream operating rate has recovered after the holiday, the actual procurement increment it brings is not enough to digest the market supply and cannot effectively drive prices.
Under the above fundamentals, the market has a strong wait-and-see atmosphere. The mentality of buying up and not buying down has led downstream customers to hold onto their currency and wait for lower prices to emerge. This emotion further suppresses the activity of trading, forming a negative feedback loop. In order to attract orders and maintain cash flow, suppliers have to choose to offer according to the market, and even proactively lower prices to promote shipments, resulting in a continuous shift in market focus.
Future Prospects
Overall, the weak pattern of the acrylic acid market is difficult to reverse in the short term and is expected to maintain a weak and fluctuating downward trend.
Negative factors:
The weak trend in the upstream raw material market is expected to continue, and cost support is difficult to recover in the short term. Meanwhile, if there is no significant and sustained increase in downstream demand, the contradiction of oversupply will still be the core factor suppressing prices.
In the future, it is necessary to focus on the adjustment of production schedules and pricing strategies of mainstream manufacturing enterprises. If there is a large-scale and proactive reduction in load and production, it may provide an opportunity for the market to stabilize. Otherwise, in the absence of positive stimuli, the market downturn may continue.
In summary, the current acrylic acid market is in a typical downward channel of “weak cost weak demand” dual squeezing, and all participants need to remain cautious and closely monitor any signals of changes in supply and demand fundamentals.

Last week (October 13-19, 2025), the upstream nylon PA6 pellet market showed a weak trend. Support from the cost side was scarce, with an oversupply in the market, leading to a prominent supply-demand imbalance and overcapacity. Downstream sectors reported low orders across all segments. Amid high inventory levels, the focus was primarily on inventory clearance. For the downstream weaving industry,坯布 prices lacked upward momentum and remained at low profit margins, which in turn suppressed nylon filament prices. As a result, the nylon filament market continued its weak downward trend.

The price of nylon filament continues to decline weakly
According to the Commodity Market Analysis System of Business Society, last week (October 13-19, 2025), the prices of nylon filament yarns experienced a weak decline. As of October 19, 2025, in the Jiangsu region, the quoted price for nylon filament yarn DTY (premium grade; 70D/24F) was 13,660 yuan per ton, down 220 yuan per ton compared to the previous week, with a weekly decline of 1.59%. The quoted price for nylon filament yarn POY (premium grade; 86D/24F) was 11,400 yuan per ton, down 175 yuan per ton compared to the previous week, with a weekly decline of 1.51%. The quoted price for nylon filament yarn FDY (premium grade; 40D/12F) was 14,325 yuan per ton, down 175 yuan per ton compared to the previous week, with a weekly decline of 1.21%.
The raw material market is trending lower
Cost aspect: Last week (October 13–19, 2025), the spot market price of caprolactam continued to decline weakly. Sinopec’s weekly closing price for caprolactam was 8,058 yuan/ton (six-month interest-free acceptance). The nylon PA6 flake market was primarily weakly consolidating, with stable price trends and weak cost support. As of October 19, 2025, the reference price for caprolactam on Business Society was 8,460 yuan/ton, with prices mainly weakly consolidating, showing a weekly decline of 2.31%. During the week, the market price of high-speed spinning nylon PA6 flake remained weakly stable with minor fluctuations, with weak cost support prevailing.
Supply and Demand: During the week, some nylon filament manufacturers maintained sufficient overall supply, but industry inventory levels continued to rise. A few companies experienced order backlog, yet overall activity remained far below the same period last year. In general, weak market demand has led to increasing inventory pressure for nylon factories. The supply side performed poorly; end-user demand remained sluggish, with some downstream manufacturers reducing production or switching to other products, resulting in decreased demand for nylon filament. On the demand side, favorable support was scarce, with most buyers maintaining only essential follow-ups. Industry players largely adopted a cautious and wait-and-see attitude.
Market outlook
On the cost front: For caprolactam, the outlook for pure benzene is weak, and spinning manufacturers show low enthusiasm for purchasing caprolactam. The caprolactam market is expected to remain weak and consolidate at low levels in the short term. As for nylon PA6 chips, cost-side support is limited. The supply of PA6 chips may continue to increase, while downstream demand remains sluggish. The market price of nylon PA6 chips is projected to decline under weak conditions.
Supply and Demand: Although October is traditionally the peak season, the distinction between peak and off-peak periods has become less pronounced in recent years. The trading atmosphere remains weak overall, so the demand for nylon filament is expected to remain sluggish next month. However, under current inventory pressure, some nylon filament manufacturers may reduce production capacity. Meanwhile, the industry continues to release new production capacity, resulting in persistent overall supply pressure.

Overall, the upstream raw material caprolactam spot market and nylon PA6 chip market will continue to operate weakly, with a lack of cost support, high supply pressure, and difficulty in improving downstream market demand. Follow up on demand will be the main focus, with prominent supply-demand contradictions and no positive news. Business analysts predict that the short-term nylon filament market will continue to be low and stable, with weak price consolidation as the main trend.