According to the bulk list data of business cooperatives, the domestic propylene (Shandong) market performed generally in November, rising first and then operating in a narrow range. At the beginning of November, the market was 7036 yuan/ton. On November 25, the average price was 7296 yuan/ton, with a monthly increase of 3.69%, 5.96% lower than the same period last year.

As of November 25, the mainstream prices of propylene in different regions in China are as follows:

Region/November 25

Shandong Province/7300-7350 yuan/ton

Northeast China./7000-7100 yuan/ton

East China./7150-7250 yuan/ton

At the beginning of November, Shandong market was affected by domestic public health events, which led to blocked enterprise shipments, poor on-site transportation, and low end prices falling below 7000 yuan/ton. In the second week of November, the market hit the bottom and rebounded. On the one hand, logistics recovered gradually, and propylene enterprises moved smoothly. On the other hand, low prices stimulated the enthusiasm of downstream procurement to improve. Proper replenishment and restart of downstream devices led to a rapid rise in the price of propylene in Shandong to 7300 yuan/ton. From the middle of the month to the end of the month, due to the price rise and the lack of downstream purchasing stamina, the propylene market began to fluctuate and stabilize, and the market supply and demand did not change much. As of November 25, the mainstream price of propylene in Shandong was 7300 yuan/up and down.

The industrial chain of propylene industry declined mainly, and the propylene market in November was not as expected due to the downstream demand. On the cost side: crude oil fell in shock, the prices of naphtha and methanol fell to varying degrees, and the prices of liquefied gas and propane were relatively strong, with a steady upward trend, but the main cost side supported weak. Demand side: In November, the downstream product market fell in a wide range, the price of acrylic phenol fell by more than 10%, the polypropylene market was weak and consolidated, the increase in demand for propylene was limited, and the downstream gas buying was insufficient, resulting in weak propylene growth.

Propylene analysts from the Chemical Branch of the Business Community believe that the demand may further weaken in December, and with the escalation of national public health and safety incidents, the propylene market is expected to decline in December.

Trade name: DMF

Latest price (May 24): 5725.00 yuan/ton

As of November 24, the domestic DMF price has declined by a narrow margin. At present, the mainstream price range is about 5400 yuan/ton, and the transaction atmosphere is cold. The downstream just needs to purchase mainly. The logistics is blocked due to public reasons.

Future market forecast: It is expected that the DMF market will operate weakly in the short term.

On November 23, the mainstream quotation range of 1 # tin ingot in East China spot market was 181500-183500 yuan/ton, with an average price of 182500 yuan/ton, up 3250 yuan/ton from the previous trading day. The average price in the domestic market was 182560 yuan/ton, 1.84% higher than the previous trading day, and 38.8% lower than the same period last year.

On the night of the 22nd, the US dollar price fell back, while the crude oil price rose, boosted by the domestic good news, and the overnight metal basically rose, with Shanghai Tin leading the way up by 2.68%. In the morning trading, Shanghai Tin continued its overnight trend, and the main contract of Shanghai Tin 2212 closed 2.12% higher as of the 23rd closing.

In terms of fundamentals, the changes in tin market fundamentals are limited, still showing loose supply and weak demand. After entering the third quarter, the domestic smelters generally started higher, and the tin supply was relatively loose as a whole. In terms of downstream demand, under the current macro economic background, the consumption of electronic products has always been tepid, which has also turned tin supply from tight to loose. In addition, market participants expect the electronics industry to warm up with low expectations, and poor demand expectations drag down the tin market. The business agency expects that the tin price in the future will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a wide range of shocks.

Recently, zinc price rose first and then fell

According to the data monitoring of the business community, the zinc price was 24124 yuan/ton as of November 22, down 0.85% from 24330 yuan/ton on November 13; Compared with the zinc price of 23138 yuan/ton on November 1, it rose by 4.26%. Recently, the zinc market has frequently changed from long to short, with zinc prices rising first and then falling.

Lido: The wind direction is uncertain

Radical interest rate hikes in major economies such as the United States and Europe triggered fears of economic recession. The demand for nonferrous metals was expected to decline, and zinc prices in London fell sharply.

After the environmental protection inspection in Sichuan, the zinc smelters that stopped production for nearly two weeks have been started one after another. The supply of zinc is expected to increase as the supply of zinc in the city recovers.

The processing cost of domestic zinc concentrate continues to rise, and the production enthusiasm of zinc smelters has risen. At the end of the year, many enterprises have plans to catch up with production. The output of zinc smelters is expected to increase in November, and the supply of zinc in the future market is sufficient.

Future market forecast

According to the data analysts of the business community; On the demand side, the global economic weakness is expected to intensify, the domestic epidemic situation is more frequent, and the demand for zinc is expected to decline; On the supply side, Sichuan environmental protection has ended, zinc concentrate processing fees have continued to rise, and zinc supply is expected to increase. In general, the supply of zinc has increased and the demand has declined in the near future. The downward pressure on the zinc market has increased. It is expected that the zinc price will fall in shock.

Last week (November 14-20), the domestic viscose staple fiber market price was basically stable, and the market trend was weak. The factory basically implemented early orders, which had little impact on the market. The number of new orders was relatively sporadic. The price of imported and domestic dissolved pulp moved down, and the pressure on the production cost of viscose staple fiber eased. From the perspective of the downstream human cotton yarn market, the price of human cotton yarn continued to be weak and stable, the market demand continued to be weak, and the overall trading atmosphere was light, As the inventory of the yarn mill keeps accumulating, the enthusiasm for replenishing the raw materials may decline in the later period, so the price of viscose staple fiber is difficult to show a strong performance.

Price trend of viscose staple fiber

Price trend of viscose staple fiber

According to the price monitoring of the business community, the price of viscose staple fiber was basically stable last week (November 14-20). As of November 20, 2022, the factory quotation of 1.2D * 38mm viscose staple fiber in China was 13220 yuan/ton; The price of human cotton yarn is weak and stable. As of November 20, 2022 (30S, ring spinning, first class), the average ex factory price is 17866 yuan/ton, which is the same as last week’s price.

Supply and demand

Recently, the operating rate of viscose staple fiber industry remains low. At present, the overall load is about 65%, and the overall low operating rate of the manufacturer under loss operation may continue. Renmian yarn continues to be weak, and the operating rate of the factory drops slightly. The manufacturer mainly makes shipments, and the overall delivery atmosphere is light. The downstream just needs a small amount of procurement. The weaving factory has arranged a Spring Festival holiday.

Future market forecast

The supply side of viscose staple fiber may be slightly loose, while the downstream demand is not good enough, so the intention of continuing to purchase viscose staple fiber is limited. In the situation of weakening support at the cost side and poor demand, analysts of the business community predict that the prices of viscose staple fiber and rayon yarn will continue to operate in a weak and stable manner next week, which does not rule out the possibility of further exploration.