I. Price Trend Chart of Sodium Pyrosulfite in China

According to the monitoring of business associations, the domestic sodium pyrosulfite continued to move steadily at the bottom in September. The average price of industrial sodium pyrosulfite at the beginning of the month was 1816.67 yuan/ton, and the average price at the end of the month was 1816.67 yuan/ton, with an increase or decrease of 0.

II. Market Analysis

Products: In September, the domestic market for sodium pyrosulfite is still tepid, and the market turnover is still light. The market price of industrial sodium pyrosulfite is between 1700 and 1950 yuan/ton, and most of the prices are around 1800 yuan/ton. In September, the domestic pyrosulfite market as a whole was relatively loose, and the adjustment of raw material cost continued to be weak, which led to the purchase and sale of downstream trading entities continued to be cautious. As a whole, with the use of the whole, the increase of new orders was limited. Most manufacturers were based on orders from old customers, and the demand was not as expected. In September, the market price of sodium pyrosulfite as a whole remained at the bottom relative to each other. Steady forward.

Industry chain: As of September 29, the price of upstream soda increased by 0.77% in a month, while the price of sulphur dropped by 16.35% in a month. Overall, the cost of sodium pyrosulfite processing still showed a slight downward trend. Under the pressure of cost, the overall price of sodium pyrosulfite market rose weakly.

3. Future Market Forecast

Business analysts believe that raw material costs continue to oscillate downward, market demand is not up to expectations, trade entities are cautious in purchasing and selling, lack of favorable support, the overall recovery of sodium pyrosulfite still takes time, and it is expected that domestic pyrosulfite market prices will continue to fluctuate slightly at the bottom in October.

Price Trend

According to the data monitored by business associations, the domestic PC market showed a downward trend in late September, and the price of Bayer 2805 was revised back. As of September 27, the average price of Bayer 2805 offered by domestic producers and traders was about 19266.67 yuan/ton, a drop of 0.86% compared with last weekend.

II. Cause Analysis

At the beginning of September, China began to impose anti-dumping duties on Phenol in the United States. Bisphenol A in the upstream of PC entered the upstream channel, and the focus of domestic spot quotation moved up. By late September, the downstream pre-festival stockpiling was basically completed, and the enthusiasm for buying declined. Actual turnover shrank and BPA boom cooled down. Buyers operate cautiously and factories buy and trade mainly to digest the rising trend. Recent domestic bisphenol A spot offer has fallen, which is not good for domestic PC cost. At present, the domestic PC market is running weakly. After the sharp fluctuation of international crude oil and the rise of the “Golden Ninth” peak season reserve fever, PC is now in a visible high level of callback. Before the festival, the enthusiasm for stock-up has declined, and downstream buyers’operation has gradually been limited. They are cautious and wait-and-see. Businessmen have obvious willingness to sell goods at profit. As of Friday, domestic PC spot offer showed a weak pullback.

3. Future Market Forecast

Business PC analysts believe that the domestic PC upstream bisphenol A market fell in late September and the offer was downgraded, which weakened the cost-side support for PC. Downstream by two standby basically completed, the buyer’s enthusiasm is reduced. Businessmen’s willingness to make profits is obvious because of obstruction of shipment. The domestic PC market is showing a high decline. It is expected that the PC spot will continue to operate in the near future. It is suggested that close attention be paid to domestic supply and demand.

On September 26, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from its peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 26th. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was starting a line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running steadily. Temporarily stable operation, due to the normal domestic market supply of p-xylene, the market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On September 25, the closing price of p-xylene in Asia dropped by 7 US dollars per ton. The closing price is 779-781 US dollars per ton FOB in Korea and 798-800 US dollars per ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a negative impact on the domestic market price of p-xylene. However, the domestic market price trend is temporarily stable.

On September 25, the price of WTI crude oil futures fell to $56.49 per barrel, a decline of $0.80. Brent crude oil futures fell to $62.39 per barrel, a decline of $0.71. According to data from the U.S. Energy Information Agency (EIA), as of September 20, U.S. crude oil stocks, excluding strategic oil reserves, were lower. The increase of 2.4 million barrels in the previous week resulted in a decline in crude oil prices, which had a negative impact on downstream petrochemical products, and a slight decline in Xylene prices. Recent textile industry volatility, PTA market start-up rate maintained high, PTA price trend slightly lower, the average price of East China in the vicinity of 5100-5200 yuan/ton, up to 24 domestic PTA start-up rate is about 90%, polyester industry start-up rate is about 89%, due to PTA supply increase, trading atmosphere is general, buy-out trade. Traders mainly, sporadic polyester factories follow-up, affected by crude oil price shocks downstream PTA market prices remain low, is expected to maintain PX market prices in the short term or 6600 yuan/ton.

Price Trend

According to the data of business associations, the current market price of aniline in Shandong is 7300-7400 yuan/ton, while that in Nanjing is 7600 yuan/ton, up 12.63% from last week.

II. Analytical Review

Raw material: Beginning in late August, the price of pure benzene has been rising. The operating rate of some pure benzene enterprises is not high, and the inventory of hydrogenation benzene factory is low; the domestic pure benzene inventory in September is low, and the market supply is tight; in terms of external market, the arbitrage window of the United States and South Korea remains open, and the external market price shocks higher. At the beginning of this week, affected by the incident in Saudi Arabia on Saturday, the price of pure benzene in the external market soared, driving the domestic market to be bullish, and the listing price of pure benzene rose to a high of 5800-5900 yuan / ton.

Products: It is reported that 130,000 tons of aniline plant in Shanxi Tianji is unstable, parking overhaul, supply reduction, downstream enterprises turn to Shandong and other places to buy, coupled with strong support from the cost side, aniline prices rose rapidly this week.

III. Future Market Expectations

Raw Material: The risk of crude oil supply has subsided, but the risk of the Middle East has affected the market, and oil prices are still likely to rebound. Downstream high-price follow-up of pure benzene is insufficient, pure benzene may be stable and weak in the near future.

Shanxi Tianji plant is expected to resume in late September, which will ease the supply tension of aniline. National Day is approaching, some downstream may be ready before the festival, to support the demand for aniline.

It is expected that aniline will run strongly in the near future.

On September 24, the fluorite commodity index was 100.97, unchanged from yesterday, down 20.80% from the peak of 127.49 points in the cycle (2019-01-03), and up 105.18% from the low of 49.21 points on December 18, 2016. (Note: Period refers to 2011-09-01 to date)

According to statistics, the price trend of domestic fluorite is low and fluctuating. As of 24 days, the average price of domestic fluorite is 2877.79 yuan / ton. In recent years, the domestic fluorite plant has been started normally, the mine and flotation plant in the field have been started normally, the supply of fluorite in the field is sufficient, and the price of hydrofluoric acid in the downstream remains low in the near future. The fluorite market is purchased on demand, and the fluorite field is gone. The goods are in poor condition and the fluorite market price is stable for the time being. Recent downstream installation start-up situation is general, fluorite spot supply is sufficient, terminal downstream demand is not improving, resulting in weak market prices. As of the 24th, the price of 97 fluorite wet powder in Inner Mongolia is 2700-2900 yuan/ton, the mainstream of 97 fluorite wet powder in Fujian is 2700-2900 yuan/ton, the price of 97 fluorite wet powder in Henan is 2700-2900 yuan/ton, and the price of 97 fluorite wet powder in Jiangxi is 2700-3000 yuan/ton. The price trend of fluorite remains low.

The market price of hydrofluoric acid in downstream fluorite maintained a low trend. As of 24 days, the domestic market price of hydrofluoric acid was 10 300 yuan/ton. The low market price of hydrofluoric acid had a negative impact on the upstream fluorite market. However, the recent start-up of hydrofluoric acid plant is general, and the demand for fluorite has weakened, and the price of fluorite has declined. Recent downstream refrigerant market trading market is general, domestic refrigerant R22 market shocks down, from the market supply point of view, refrigerant R22 market continues to be weak, manufacturers reduce the start-up load, market supply capacity has decreased, inventory pressure has been buffered. On the demand side, downstream air-conditioning manufacturers’overhaul showed no increase in demand, and the price of domestic large enterprises fell to 1250-14000 yuan/ton. The domestic market price of R134a is declining. At present, the market of R134a has entered the off-season. The downstream demand is relatively weak. The start-up rate of many R134a manufacturers remains low. However, on-site transaction prices continue to decline, merchants purchase on demand, the end of the peak season, downstream terminal demand only declined but not increased, and the price affected by the fluorite market is at a low level.

Generally speaking, the downstream refrigerant industry is declining, and the supply of fluorite market is sufficient, and the demand of downstream refrigerant industry is not good. Chen Ling, an analyst of business associations, believes that the price of fluorite market may continue to decline.