Price Trend

On August 21, the TDI commodity index was 71.43, down 0.88 points from yesterday, down 71.20% from the cycle peak of 248.02 points (2016-10-19), and up 18.71% from the lowest point of 60.17 on February 22, 2016. (Note: Period refers to 2011-09-01 to date)

II. Market Analysis

Products: According to statistics, TDI prices in East China market are declining. TDI prices in East China market fell 1.22% to 13500 yuan/ton on the 21st. The TDI market in East China is weak and wait-and-see. The on-site traders pay more attention to factory news, good news is scarce, the overall atmosphere in the field is depressed. Only sporadic small orders follow-up, the offer of traders is temporarily stable, and the discussion of shipment is the main thing. 。 Domestic goods with tickets out of the warehouse offer reference 12900-13000 yuan/ton, Shanghai goods with tickets out of the warehouse offer reference 13100-13200 yuan/ton, the actual single negotiation is low.

Industry chain: Compared with the previous trading day, the listed toluene price of Sinopec’s enterprises is flat today. Shandong Geotechnical Refining Company’s listing price was raised by 50 yuan/ton today. Traders’quotations have been slightly lowered today. The quotations in East China are about 5600 yuan per ton. As for nitric acid, the market of Jiangsu nitric acid is weak and the demand of nitric acid market is not good. The quotations of manufacturers in Shandong, Huainan, Anhui and other places have been lowered, and the market demand is general.

Industry: Domestic TDI market is vulnerable, good news is scarce, pessimistic atmosphere is growing, the overall mindset of the business is weak, mainly to negotiate shipment, individual low-price hearings, with the bottom of the price, a small number of transactions follow-up, but it is difficult to effectively support the situation.

III. Price Forecast

TDI business analysts believe that the domestic TDI market is weak in the latter stage, focusing on factory information surface guidance.

Price Trend

According to the price monitoring of business associations, the price of hydrochloric acid in North China rose this week from 120.00 yuan/ton at the beginning of the week to 146.67 yuan/ton at the end of the week, up 26.67 yuan/ton, up 22.22%, up 17.34% over the same period last year. Overall, the hydrochloric acid market rose this week, with the hydrochloric acid commodity index of 38.60 on August 16.

II. Market Analysis

(1) Products:

This week, the hydrochloric acid Market manufacturers’quotations rose and the overall market rebounded. Dezhou Shihua hydrochloric acid quotation is 100 yuan/ton, the quotation is temporarily stable; Wenshui synthetic hydrochloric acid weekend quotation is 190 yuan/ton, compared with the beginning of the week, the quotation is 80 yuan/ton; Jinan Yuanfei hydrochloric acid quotation is 200 yuan/ton, the quotation is temporarily stable; Dezhou Meihua hydrochloric acid quotation is 50 yuan/ton, the quotation is temporarily stable.

(2) Industrial chain:

The price of liquid chlorine in the upstream market is stable, which supports hydrochloric acid. The downstream dyes, calcium chloride and chloroethane still buy hydrochloric acid on demand in the early stage. The hydrochloric acid market as a whole is still weak. By-product acid shocks the market. The pressure of hydrochloric acid shipment is high. The quality of by-product hydrochloric acid produced by TDI, chloropropene, propylene oxide and methane chloride is relatively good. For the purpose of shipment, each manufacturer has the situation of inverted freight shipment. Overall, the difficulty of delivery of hydrochloric acid is still a major problem. In Shanxi, due to the reasons of the Shanxi Youth Games, some manufacturers have reduced their production burden, halved their output, and increased their products under the contradiction between supply and demand.

3. Future Market Forecast

After the adjustment in July, the capital reflux of each factory is in good condition, the equipment has been repaired and the production capacity has increased. Business analysts believe that: the upstream liquid chlorine is good in the near future, but the downstream demand for rare earth and fuel is still general, and by-product acid shocks the market, the Shanxi Youth Games will close soon. Business analysts believe that the late hydrochloric acid market is still more vulnerable to consolidation.

Price data:

According to the monitoring data of business associations, the domestic bromine market has been running steadily this week. The average price of bromine has remained around 29785 yuan per ton in the week, up 4.17% from the same period last year.

II. Cause Analysis

Products: This week, the domestic bromine market was affected by the previous environmental protection and continuous rainfall, the overall inventory has been reduced to a low level, some parking enterprises have just resumed, there is a certain shortage of supply in the industry; the current downstream market is in the off-season, the demand for bromine is not good, mainly purchasing just needed. At present, the mainstream quotation of enterprises is about 29500-30000 yuan/ton, and some of the real orders are on the low side.

Industry chain: bromine upstream industry is stable and soft this week: the demand for sulphur market is sluggish, with a drop of 2.47 per week, currently around 790 yuan/ton; the caustic soda market is gradually restoring, the downstream demand is not good, the downstream demand is stable within the week, currently around 705 yuan/ton; the soda market is stable, with an average price of about 1676 yuan/ton; and the supply and demand of sulphuric acid market is about 1676 yuan/ton. There is a steady increase in demand, but the downstream demand is flat, falling by 3.33% in a week, currently about 227 yuan per ton. At present, the downstream flame retardant industry of bromine is in poor demand, the market as a whole is light, the price of bromine is insufficient to support, and the industry of pharmaceutical and agricultural intermediates is affected by environmental protection, resulting in low overall start-up and limited demand.

3. Future Market Forecast

Business bromine industry analysts believe that there is a certain gap in the domestic bromine market supply side at present. Enterprises have low Multi-inventory and start work gradually after the end of the continuous rainstorm; the upstream market is mostly soft, which has no good support for bromine prices. The downstream market is in the off-season, just in need, and low-price imported bromine is good for the domestic market. The field has some negative influence. It is expected that domestic bromine prices will be stable in the near future.

Price Trend

This week, the acetone market as a whole went up, with a narrow range of fluctuations, and the Yanshan market went up significantly. According to the monitoring of commodity data of business associations, manufacturers in eastern China offered 3725 yuan/ton at the beginning of this week and 3800 yuan/ton at the end of the weekend, which was 2.01% overall.

II. Analytical Review

Products: At the beginning of the week, when the stocks of the port are relatively low and the stocks of the petrochemical enterprises are on the low side, some manufacturers limit the amount of invoices. On Tuesday, the petrochemical enterprises will increase 100 yuan/ton. The mentality of the intermediate traders will be boosted. The secondary traders will have active stocks and concentrate on replenishment. At present, the main negotiation range of East China market is 3750 yuan/ton; Yanshan peripheral market is around 3800 yuan/ton; and South China market is around 3800 yuan/ton.

Industry Chain: On the supply side, this week Sinopec’s listed price of pure benzene was stable at 5100 yuan/ton, the price of propylene in East China was lowered to 7550 yuan/ton, and the cost of phenol and ketone was 10,000 yuan/ton; this week, the overall starting rate of domestic manufacturers was 80%, and the port stock was relatively stable. In terms of demand, only 60% of the MMA units are in operation and less than 60% of the isopropanol units are in operation. This week, although the acetone market quotation has risen sharply, most downstream factories digest inventory, despite the boost of the factory increase, market follow-up is limited.

3. Future Market Forecast

Advantages: Bisphenol A plant starts at a high level, and the demand for raw materials is good; overall, the import cost is higher, which has certain support for the domestic market. Likon: The downstream parking of isopropanol and MMA plants has increased, and there will be less demand for raw materials. Business associations are expected to consolidate the acetone market next week. At present, importers of import sources have little intention of delivering at low prices. The prices of manufacturers are still supported. They will be stable next week. The overall small orders follow up. The main negotiation range in East China market is 3750-3800 yuan/ton.

Price Trend

According to the data of business associations, PA66 market showed a weak and stable trend in the third week of August, and the quotation was temporarily stable. As of August 15, the average price of viscous injection grade mainstream offer in PA66 was about 24750.00 yuan/ton, which was 0.60% lower than that at the beginning of the month.

Analysis of influencing factors:

Products: PA66 upstream adipic acid market performance this week rose and fell powerless, the market atmosphere slightly cold, distributors actively shipped mainly, the market maintained a weak shock pattern. At present, downstream demand has not changed much, downstream start-up rate is still slightly inadequate. The start-up rate is basically around 50%, which does not give a strong boost to the upstream adipic acid, because the rebound of the previous market basically relies on the upstream pure benzol, driven by the cost effect, which belongs to passive follow-up. At present, the cost surface profit is excessive. The market gradually returns to rationality, and the market also enters the de-inventory cycle. Deals are slightly deadlocked, and there is room for retailers to concede profits. Social inventory is still showing some pressure, and shipment strength has slightly declined. Adipic acid supply and demand are basically in a balanced pattern, and it is expected that the market will continue to maintain a narrow adjustment pattern in the short term; this week, the PA66 market continued to weaken adjustment. The news of US tariff postponement was positive, the terminal market warmed up slightly, and the overall impact on PA66 market was limited. Under the background of imbalance between supply and demand, the transaction is still flat, the transaction is difficult, and the single-offer negotiation is the main way.

Demand side: At present domestic PA66 chip spot supply is more abundant, downstream factories just need to take goods, demand continues to be weak. Market buy gas is insufficient, business people have a heavy wait-and-see mentality, and most of the transactions are detailed and factual.

Future forecast:

Business analysts believe that the recent domestic PA66 market trend is stable and weak. This week, trade frictions between China and the United States slowed down and signalled that the positive news had little impact on PA66 prices. This week’s offer for PA66 declined slightly against the background of poor support from adipic acid cost and insufficient long-term demand downstream. It is expected that the PA66 disk will continue to be weak in the near future.