Price Trend

According to the data monitored by business associations, the PP market in August was in a turbulent downward trend and prices were lower. As of August 30, the mainstream offer price of T30S by domestic producers and traders was around 8566.67 yuan/ton, a drop of 2.65% compared with the beginning of the month.

II. Cause Analysis

Upstream: As for propylene, the international crude oil market fluctuated sharply this month, with several sharp downturns, and then steadily rebounded, which had a phased impact on propylene. At present, there are some shortcomings. The profit margin of downstream factories is still acceptable, and purchasing enthusiasm is good. Acrylic acid prices have increased this month, but the overall downstream demand is general, more wait-and-see mentality, is expected to maintain stable operation in the near future or will have less impact on propylene; while propylene oxide prices have fallen after this month’s rise, which has little impact on propylene; n-butanol prices have increased continuously, rising as high as 4.69% in seven days. Good propylene market; at present, on-site inventory is tight, manufacturers have pressure on sales in the middle of the month, to ease at the end of the month, propylene prices are expected to rise in the near future.

Products: In August, the overall price of PP market has been lowered and the weakness has been adjusted. This month’s overhaul capacity was 348,800 tons, an increase of 37.43% over July’s 258,800 tons, and the investment of new equipment was not as good as expected. Cost support from propylene has decreased, downstream demand for PP is flat, the trading atmosphere is general, and the manufacturer has lowered the ex-factory price. However, the stock of raw materials on the demand side is low, and there may be a motive force for replenishment after the price falls. This month PP futures also shocked lower, suppressing the mindset of traders, near the end of the month traders multi-dimensional stable offer. Zhenhai Refinery (Sinopec East China) PP ex-factory price, drawing T30S quoted 8800 yuan/ton. Jiujiang Petrochemical (Sinopec East China) PP ex-factory price, drawing T30S offer for 8600 yuan/ton. Fushun Petrochemical (CNPC East China) PP ex-factory price, drawing T30S quoted 8300 yuan/ton. Daqing Petrochemical (CNPC Northeast) PP ex-factory price, drawing T30S quoted 8550 yuan/ton. Dalian Organic PP (CNOOC Northeast) ex-factory price, drawing T30S quoted 8400 yuan/ton.

3. Future Market Forecast

PP analysts believe that domestic PP prices tumbled in August, the upstream propylene weakened, and cost-side support weakened. The start-up rate of domestic polypropylene enterprises has declined, and there are many parking and maintenance devices. The downstream acquisition and purchase strategy is based on just-in-demand strategy. Demand continues to be weak and the trading atmosphere is flat. Distributors let profits go single. It is expected that PP trend will probably continue to decline narrowly in the near future.

Price Trend

According to the monitoring data of business associations, the domestic acetic acid market is running steadily at present, and the price of acetic acid varies greatly from region to region. The price quoted in Henan is about 3350/ton; in Shandong is about 3500-3600 yuan/ton; in Hebei is about 3550 yuan/ton; in Shaanxi is about 3200 yuan/ton; and in Jiangsu is about 3450-3550 yuan/ton. About RMB/ton; Zhejiang region offers about 3600-3700 RMB/ton; South China region delivers about RMB 3650-3750 RMB/ton.

II. Cause Analysis

Products: After the continuous sharp rise, the domestic acetic acid market is running steadily. The overall start-up rate of the industry is still low. The overall start-up rate is around 75%. There is a tight spot supply, and the enterprises have few stocks. Enterprises in North China have completed overhaul and are recovering one after another: Shaanxi extended 300,000 tons/year plant has resumed production, Hebei Jiantao 500,000 tons/year plant is resuming normal production, Tianjin Bohua Yongli 350,000 tons/year plant is returning to normal, Henan Long500,000 tons/year plant is still under overhaul, the supply situation in the field is gradually improving; The acetic acid Market in the eastern region has gradually stabilized, the market supply is tight, and the downstream market has strong resistance to the high-priced acetic acid in the region. At present, the industry pays more attention to the news of 1.2 million tons/year plant in Soap, Jiangsu Province, while the 500,000 tons/year plant in Huayi, Anhui Province is still under repair; the market in South China is strong, the market is tight, the downstream market just needs to be flat, and buy more. Be cautious.

Industry chain: In the upstream, the domestic methanol market has recently been shaken and adjusted, the demand side has been weak, and there is no favorable support in the short term. The average price is about 2024 yuan/ton, which is 32.45% lower than that of the same period last year. The domestic acetate and vinyl acetate industries are affected by the strong price of raw materials acetic acid, and continue to rise in the near future, but the downstream terminal needs. In general, there is a slight resistance to high prices; the domestic PTA market is vulnerable to shocks, with the overall start-up of about 95%, which is good for acetic acid price support, but the downstream polyester market holds a wait-and-see attitude, and is expected to maintain shocks in the short term.

International: This week, the acetic acid Market in North America has been running steadily, and downstream industries are mostly holding a wait-and-see attitude. At present, the price of acetic acid in Asia keeps rising, the supply of acetic acid in China is tight, and most Asian users are strongly opposed to the high price of acetic acid. At present, the demand for acetic acid in Europe has rebounded slightly, but as a whole. It’s still flat. The current quotation is around 650 euros/ton.

3. Future Market Forecast

Acetic acid analysts of business associations believe that the acetic acid Market in eastern China is stabilizing gradually and the downstream is just in need of leveling off. At present, the industry pays more attention to the news of 1.2 million tons/year plant in Thorpe, Jiangsu Province. Overhaul enterprises in North China have resumed production and supply-side tension has eased to a certain extent. Acetic acid enterprises in Northwest China have begun to bear pressure due to poor shipment. Down. It is expected that the domestic acetic acid price will remain high and firm in a short period of time, and the northwest region will be weak. The future market needs to pay attention to the start-up of enterprise production.

On August 27, the hydrofluoric acid commodity index was 101.18, which was the same as yesterday. It was 27.95% lower than the peak of 140.43 points in the cycle (2018-02-21), and 88.80% higher than the low of 53.59 points on November 30, 2016. (Note: Period refers to 2011-09-01 to date).

According to statistics, the price trend of domestic hydrofluoric acid market declined sharply on August 28. Up to now, the domestic market price of hydrofluoric acid is 10730 yuan/ton, and the domestic starting rate of hydrofluoric acid is about 60%. Enterprises reflect that there is sufficient supply of hydrofluoric acid spot source in the field, and the recent market running situation is poor. In recent years, the downstream demand is not good. Hydrofluoric acid manufacturers continued to reduce prices, hydrofluoric acid market prices fell substantially. At present, the mainstream of hydrofluoric acid negotiations in the southern region is about 10,000-10,500 yuan/ton, while the price of hydrofluoric acid in the northern market is 10,000-10,500 yuan/ton. Domestic hydrofluoric acid market prices fell, spot supply is normal, but the demand situation is poor, hydrofluoric acid market prices declined.

Upstream fluorite prices slightly lower, up to 28 days fluorite prices were 3056.25 yuan/ton, upstream raw material prices low to the hydrofluoric acid market has a negative impact, the market price of hydrofluoric acid by raw material fluorite prices fell. The downstream refrigerant product plant starts at a low level. The demand for upstream fluorite and hydrofluoric acid is poor. Recent downstream refrigerant trading market is general, and the price of hydrofluoric acid products fluctuates. Recent downstream refrigerant market trading market is general, domestic refrigerant R22 market shocks down, from the market supply point of view, the production enterprise device is stable, but the pressure of goods is too high, inventory expansion appears to a certain extent, the enterprise aims to make profits to deliver goods. The downstream weakness continues, the peak season of refrigerants has passed, and demand has only decreased but not increased. The price of domestic large enterprises has maintained the level of 16,000-18,000 yuan/ton. Domestic market price trend of R134a is declining, the start-up rate of production enterprises remains low, refrigerant market demand is general, manufacturers mainly export. However, the price of on-site transactions does not change much. Businessmen purchase on demand. At the end of the peak season, the downstream demand of terminals decreases but does not increase. The downstream demand is not good, and the price trend of hydrofluoric acid market is low. However, the on-site transaction price does not change much. Businessmen purchase on demand. Recently, due to the normal supply of goods and poor downstream demand, the market price of hydrofluoric acid has declined.

Refrigerant field turnover is poor, refrigerant industry equipment start-up rate remains low, for upstream hydrofluoric acid market demand is limited, hydrofluoric acid spot supply is sufficient, Business Analyst Chen Ling believes that the hydrofluoric acid market may continue to decline.

Price trends:

According to the data monitoring of business associations, this week Sinopec Neighbouring Benzene executed the quotation stably. Up to August 23, the executed contract price of O-xylene Sinopec was 6000.00 yuan/ton, which was stable compared with the price of O-xylene at the beginning of the week. Prices fell by 23.44% over the same period last year.

II. Market analysis:

This week, the external quotation of Phenyls fell sharply, the cost of imported Phenyls fell, the port inventory remained low and stable, the inventory consumption was slow, the demand for Phenyls was general, and the future market of Phenyls was negative. The operating rate of o-xylene equipment is about 80%, the supply of o-xylene is stable, and the downward pressure of o-xylene remains.

Factor Analysis of Industrial Chain

This week mixed xylene price shocks rise, raw material prices rise, phenyl costs rise, phenyl rising momentum increases, the overall future market phenyl is good.

This week, the price of phthalic anhydride fell sharply. On the 26th, the price of phthalic anhydride rebounded, downstream demand rebounded, the market was good, and downward pressure on phthalic anhydride weakened. As for plasticizers, the DOP market surges, and the future market is more dynamic. The overall downstream market of o-phenyl is better, and the upward trend of o-phenyl is larger.

3. Future market forecast:

According to Bai Jiaxin, an analyst of o-xylene data from business associations, the price of o-xylene remained stable this week, while the market of o-xylene in the future was mixed and the price of o-xylene remained stable. For raw materials, the price of mixed xylene rose, which was good for phthalic anhydride; the price of downstream phthalic anhydride rebounded and the price of plasticizers shocked up, and the overall downstream market was good for phthalic anhydride. On the external market, the price of phenyl continued to fall, which was negative for domestic phenyl market. In summary, the future market is mixed, bad news is insufficient to cause the decline in the price of phenyls, positive pressure is greater, the driving force for the rise of Phenyls in the future is increased, but it is difficult to support the rise in the price of phenyls, which is expected to remain stable in the future market.

Future market should focus on: downstream phthalic anhydride and plasticizer performance, whether there will be major changes affecting the market of o-phenyl. Other circumstances may also affect the future market changes of phenyl: such as the start-up of phenyl manufacturers, import and export of phenyl, etc.

Price Trend
The domestic dimethyl ether market rose sharply this week. At the beginning of the week, the average domestic dimethyl ether (Henan) market price was 3055 yuan/ton, and the weekend average price was 3280 yuan/ton. Within the week, the price increased by 7.36%, which was 28.77% lower than the same period last year.

II. Market Analysis

Product: Dimethyl ether (Henan) market price is stable this week. Up to August 23, Yutai, Hebei, Henan Lankao Huitong device parking overhaul, not quoted for the time being. Henan Yima Xinyuan dimethyl ether plant failure, do not quote for the time being. The ex-factory price of dimethyl ether of Henan Xinlianxin Chemical Industry Group Co., Ltd. is 2970 yuan/ton, Henan Qinyang Shengxin dimethyl ether is 3070 yuan/ton, Hebei Jichun Chemical Industry Co., Ltd. is 3090 yuan/ton, Shandong Dezhou Shengdeyuan Co., Ltd. is 3010 yuan/ton, and Shandong Yuhuang dimethyl ether is ex-factory price. The price of dimethyl ether in Shanxi Orchid Science and Technology Venture Co., Ltd. is RMB 302 per ton and RMB 2930 per ton.

Industry Chain: Domestic methanol market fell this week in an all-round way. On the mainland, Shandong took the lead in lowering the consumption market. By Thursday, Shandong fell 240 yuan/ton to 1850 yuan/ton. Due to the rapid decline, the main producing areas were waiting and watching. There was no mainstream price this week, and some discussions reached 1550 yuan/ton. Port arrivals are still concentrated, inventory continues to increase, and the port market is weak and volatile, falling by 40-60 yuan/ton. Liquefied petroleum gas (Shandong) market is dominated by narrow margin consolidation. Early in the week, the rise of crude oil boosted the market and the price of liquefied petroleum gas increased slightly. However, the increase of crude oil is not big enough to boost the market of liquefied petroleum gas. In addition, the liquefied petroleum gas shipment continued to be poor last weekend, the inventory of the manufacturers increased gradually, the pressure increased, the enthusiasm of downstream market was general, and more purchased on demand. Manufacturers’production and marketing are out of balance. Late week price slightly concessions, price down, mainly shipments. Market turnover has improved significantly, and low-level shipments are relatively smooth. This week, the domestic dimethyl ether Market stabilized first and then fell, and the trading atmosphere was flat. This week, Henan Xinlian repeatedly implemented the price floor policy. As a major manufacturer, it protected the market price on the side and continued to keep the floor after the settlement price was lowered. Later in the week, but under the double pressure of other manufacturers’sales and inventory, the price center of gravity declined.

Industry: According to the business association price monitoring, in the 33rd week of 2019 (8.19-8.23), there were six kinds of commodities rising in the energy sector, the first three of which were liquefied natural gas (2.89%), Brent crude oil (2.18%) and MTBE (1.77%). There are seven kinds of commodities that have declined annually. The first three products are methanol (-2.34%), petroleum coke (-0.81%) and gasoline (-0.67%). This week’s average rise and fall was 0.24%.

3. Future Market Forecast

Dimethyl ether analysts believe that the methanol and liquefied petroleum gas market is weak and the profit of dimethyl ether enterprises is low. However, with the arrival of the traditional sales season, the market demand will gradually increase, or the current situation may be improved. It is expected that the narrow adjustment will be the main one in the near future.