Price Trend

According to the monitoring data of business associations, as of April 23, many manufacturers suspended their quotations and the domestic market for cyclohexanone was temporarily stable.

II. Market Analysis

Products: Cyclohexanone market stability adjustment, Shandong Haili export of cyclohexanone plant shutdown, the overall supply of cyclohexanone decreased, spot supply is not much, downstream chemical fiber inquiries are general, solvent market just need to purchase, market trading atmosphere is flat. The mainstream offer of cyclohexanone in North China market is delivered in cash at 10600-10800, the mainstream offer in East China market is delivered in cash at 10900-11100, and the mainstream offer in South China market is delivered in cash at 1120-11400.

Industry chain: pure benzene: pure benzene offer price rises. Crude oil rose sharply in the day, and downstream styrene due to the rebound in delivery, pure benzene prices driven by upstream and downstream, offer firm upward. Morning offer once reached 4600-4700 yuan/ton. But downstream due to weak domestic demand, cautious surge, the focus of the purchase is less than 4500 yuan / ton. Caprolactam: The liquids spot market of caprolactam continues to move smoothly. Recently, the caprolactam plant has stopped a lot. However, due to the downstream slice Market downturn, poor terminal demand, slow digestion of slice inventory, high cost of raw materials and inadequate supply of raw materials in polymerization factories, the enthusiasm of production has declined. Although the supply of caprolactam has decreased, the market performance is relatively calm. The spot price of caprolactam liquid is around 14300 yuan/ton. It is accepted and delivered to the factory in the north. The spot price of caprolactam liquid is 13800 yuan/ton and remitted to the factory in the north. The solid market continues to be stable. The price refers to 14700-14900 yuan/ton remittance. Some low-end prices are below 14500 yuan/ton.

3. Future Market Forecast

Cost support is relatively stable, the price of cyclohexanone is high, manufacturers are not many spot, downstream chemical fiber factories parking more, the demand for cyclohexanone may be reduced. Cyclohexanone analysts at business associations expect the market to stabilize and weaken this week.

Saudi Arabia’s crude oil production and exports declined in February compared with January as it fulfilled a global production reduction agreement reached by the world’s major oil producers late last year, according to data released by JODI on Thursday.

According to JODI data, Saudi crude oil production in February fell by more than 1% annually to 10.136 million barrels per day; Saudi exports of crude oil in February dropped by 3.8% annually to 69.77 million barrels per day.

Saudi Arabia and Russia, the world’s major oil producers, began to cut crude oil production on January 1, 2019 to avoid oversupply in the global oil market and to support oil price rises. Saudi Arabia has oversupply cut production or is related to the need for high oil prices for Saudi Arabia’s Amy Oil Company to go public.

Saudi crude oil stocks rose to 204.567 million barrels in February from 20.834 million barrels in the previous month. Saudi crude oil inventories reached a record high of 329.43 million barrels in October 2015.

JODI data show that Saudi refinery crude oil processing capacity in February was 27.67 million barrels per day, slightly higher than the January 278 million barrels per day level. The country exported 1.61 million barrels of refined oil per day in February, a 9.6% reduction from January.

Saudi demand for crude oil for power generation in February dropped from 377,000 barrels per day in January to 259,000 barrels per day, while demand for refined oil increased from 2.073 million barrels per day in the previous month to 2.157 million barrels per day.

Price Trend

According to the data monitored by business associations, on April 15, PET water bottle manufacturers quoted 8825 yuan/ton, and on April 19, PET water bottle manufacturers quoted 8688 yuan/ton. The overall decline was 100-200 yuan/ton, the overall decline was 1.56%, and the market of PET fell slightly.

II. Cause Analysis

Product aspect: PTA price of raw materials fell sharply this week, cost support was not good, while the market atmosphere of PET was cold, purchasers just needed to replenish, the actual volume was low. Under the pressure of both cost and demand, manufacturers narrowly concede profits and prices slightly fall. As of April 19, the main quotation range of PET water bottle manufacturers is 8600-8750 yuan/ton. P>

Industry: On April 19, the rubber and plastic index was 743 points, down 2 points from yesterday, down 29.91% from the highest point of 1060 points in the cycle (2012-03-14), and up 28.99% from the lowest point of 576 points on December 21, 2015. (Note: Cycle refers to 2011-12-01 to date) Commodity market consolidation is the main trend of the rubber and plastic industry, a small shock.

3. Future Market Forecast

PET analysts believe that recent PET products are mainly affected by supply and demand game and raw material price fluctuations, with small price shocks dominating. It is expected that the demand for PET terminal infrastructure will hardly be greatly improved. In the short run, the market of PET will be shaken and consolidated, with the mainstream quotation range of 8400-8800 yuan/ton.

On April 17, the PX commodity index was 67.20, unchanged from yesterday, down 34.38% from its peak of 102.40 points in the cycle (2013-02-28), and up 47.53% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily in the field. Urumqi Petrochemical Plant has started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Hengli Petrochemical PX Plant has been put into operation. Other units have been running steadily for the time being. Due to the increase of domestic market supply of p-xylene, the market for p-xylene has increased. Price trend is stable for the time being. The opening rate of PX plant in Asia is about 80%. On April 17, the closing price of p-xylene in Asia dropped by 38 U.S. dollars per ton. The closing price is 987-989 U.S. dollars per ton FOB Korea and 1006-1008 U.S. dollars per ton CFR in China. More than 50% of the domestic units need to be imported. The sharp decline in foreign prices has a negative impact on the domestic market price of p-xylene. Steady.

On April 17, the price of WTI crude oil in June fell to $63.76 per barrel, a decline of $0.29. Brent crude oil in June fell to $71.62 per barrel, a decline of $0.10. The price of crude oil declined slightly, losing some cost support for the price of downstream petrochemical products, and the price of p-xylene market stabilized temporarily. Recent textile industry market shocks, PTA price trend shocks on the 18th, the average price of East China bid in the vicinity of 6700-6850 yuan/ton, as of the 17th domestic PTA start-up rate is about 80%, polyester industry start-up rate is about 90%, downstream production and sales rate maintained high, but PTA market price changes little, it is expected that PX market prices will remain stable in the later period.

On April 16, the PX commodity index was 67.20, unchanged from yesterday, down 34.38% from its peak of 102.40 points in the cycle (2013-02-28), and up 47.53% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily in the field. Urumqi Petrochemical Plant has started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Hengli Petrochemical PX Plant has been put into operation. Other units have been running steadily for the time being. Due to the increase of domestic market supply of p-xylene, the market for p-xylene has increased. Price trend is stable for the time being. The opening rate of PX plant in Asia is about 80%. On April 16, the closing price of p-xylene in Asia dropped by 14 US dollars per ton. The closing price is US$1025-1027 per ton FOB in Korea and US$1044-1046 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. The market price of p-xylene in Asia is stable temporarily.

On April 16, the price of WTI crude oil in June fell to $63.40 per barrel, a decline of $0.49. Brent crude oil in June fell to $71.18 per barrel, a decline of $0.37. The price of crude oil declined slightly, losing some cost support for the price of downstream petrochemical products, and the price of p-xylene market stabilized temporarily. Recent textile industry volatility, PTA prices rose slightly on the 17th. The average price in East China was raised near 6700-6850 yuan/ton. As of the 16th day, the domestic PTA start-up rate was about 80%, the polyester industry start-up rate was about 90%, and the downstream production and sales rate maintained a high level. However, PTA market prices did not change much. It is expected that the price of PX market will remain stable in the later period.