Ethylene oxide remained stable, with the ex factory price of 8200 yuan / ton in East China, North China, South China and Northeast China and 8300 yuan / ton in Central China.

Ethylene supply is abundant and the bottom is volatile. Ethylene oxide started at a low level, and the market was sorted and repaired. The terminal demand has gradually picked up, the monomer factory is mainly de stocking, and the market wait-and-see atmosphere still exists.

Forecast: temporarily stable.

Commodity market: according to the monitoring of business agency, the mainstream market of domestic natural rubber market increased by a wide margin compared with the closing price of the previous day on May 10, and the market spot price increased by about 350-400 yuan / ton. The average spot market price of domestic natural rubber (standard I) in East China market was 12420 yuan / ton, up 2.64% from the quotation of the previous trading day and down 11.54% year-on-year.

Industrial focus: on the supply side, the rainfall in Thailand’s production area during May Day is unfavorable to rubber cutting, the output of new rubber is low, and is gradually increasing. Vietnam’s output is normal, but its export is not much; At present, the main production areas in China have been cut one after another. Although the production area in Hainan has been delayed, it is expected to increase the quantity one after another by the end of May, and the entry of new rubber into the market may be postponed to June. On the demand side, the current consumption off-season is superimposed with the impact of public health events, the commencement of downstream product enterprises is limited, the rubber delivery in Shanghai and other places is difficult, the circulation of raw materials and finished products is partially blocked, the export demand decreases and it is difficult to recover in the short term. The slowdown of internal and external demand leads to heavy inventory of finished products of tire enterprises, high pressure to go to the warehouse, the commencement of enterprises is affected, and the procurement demand is slow. On the inventory side, the natural rubber inventory in Qingdao decreased, the delivery rate picked up and the warehousing rate decreased. In terms of import and export, the tense situation of containers continues, the arrival time of shipping schedule is delayed seriously, and the port transportation is not smooth, and the source of tradable goods is locally tense; According to the data released by the General Administration of Customs on May 9, China imported 536000 tons of natural and synthetic rubber (including latex) in April 2022, down 7.1% from 577000 tons in the same period in 2021. From January to April 2022, China imported 2.397 million tons of natural and synthetic rubber (including latex), an increase of 1.3% over 2.367 million tons in the same period in 2021.

Future forecast: the output and arrival date of new rubber did not meet the expectations, and the local liquidity source was a little tight; Due to the low consumption season and high inventory pressure, the purchasing enthusiasm of downstream enterprises is suppressed, which is expected to be slightly supported in the short-term shock. We will focus on the impact of public health events on ship cargo imports and key domestic circulation places.

Trade name: acetic acid

Latest price (May 9): 4690 yuan / ton

Key points of analysis: today, the market price trend of acetic acid has risen sharply. The average market price in East China has increased by 7.57% compared with the previous working day. At the weekend, various enterprises have adjusted the price sharply, and the price of acetic acid in Shandong has increased by 600 yuan / ton. At present, due to the tight market supply of individual acetic acid enterprises due to device maintenance and low load operation, the downstream market purchase is active, the market trading atmosphere is mainly wait-and-see, the mentality of operators is strong, and the quotation of enterprises has been adjusted and increased.

Future forecast: the short-term acetic acid market is bullish, and pay attention to the market supply.

From April 29 to May 7, 2022, the bidding price of crude benzene increased from 6673 yuan / ton last weekend to 6835 yuan / ton this weekend, with a weekly increase of 2.43%.

International oil prices rose as a whole this week. On May 5, international crude oil futures continued the rise of the previous trading day and rose slightly. The settlement price of the main contract of WTI crude oil futures in the United States was US $108.26/barrel, up US $0.45 or 0.4%; The settlement price of the main contract of Brent crude oil futures was US $110.90/barrel, up US $0.76 or 0.7%. Earlier, the EU formulated a plan to gradually stop importing Russian oil, and the oil embargo triggered concerns about supply tightening. At the same time, the decline in demand caused by epidemic control measures in Asia, the strengthening of the US dollar and the downward pressure on global stock markets limited the rise of oil prices.

Summary of price adjustment of Sinopec pure benzene (unit: yuan / ton)

Date, Adjusted price, Adjustment amount

March 24, 8600.,+200

April 12, 8450.,-150

April 27, 8550.,+100

April 28, 8700.,+150

May 5, 8850.,+150

May 7, 8950.,+100

Sinopec raised the ex factory price of pure benzene twice in a row during the week. On May 7, 2022, Sinopec raised the listing price of pure benzene by 100 yuan / ton, with the implementation of 8950 yuan / ton.

Other enterprises: Dongming Petrochemical offers 8650 yuan / ton, HSBC Petrochemical offers 9000 yuan / ton, Jincheng Petrochemical offers 8720 yuan / ton, Weilian chemical offers 8753 yuan / ton, Xinhai Petrochemical offers 8800 yuan / ton, and Hongrun Petrochemical offers 8900 yuan / ton.

From a fundamental point of view, the price of crude oil has continued to rise recently, and the price of pure benzene in the external market has kept rising. Basically, pure benzene has a good support. Sinopec has continuously raised the ex factory price of pure benzene to 8950 yuan / ton within the week, which once again boosted the confidence of the domestic market, and the price of local refining has increased significantly. In terms of inventory, at present, the inventory of pure benzene ports in East China has decreased continuously, while the inventory of some subordinate enterprises of Sinopec has tightened, and the price of pure benzene has risen all the way under multiple positive supports, By the time of publication, the price of pure benzene in the domestic mainstream market is about 8650-9000 yuan / ton, and the price of hydrogenated benzene is rising. At present, the market price in East China has risen to about 8850-8950 yuan / ton.

This week, the price of domestic crude benzene is dominant, and the regional price difference is obvious. The price of main production areas such as Shanxi, Hebei and Shandong has increased significantly. Among them, the bidding price of Shandong this week is 7260-7265 yuan / ton, up 330 yuan / ton compared with that before the festival. Some enterprises auctioned the supply of goods after the festival before the festival, and the pre Festival price is still implemented this week. Overall, the fundamentals are good, the support is strong, the rise of the industrial chain is obvious, and the downstream demand is OK. It is expected that the market will continue to maintain a stable medium strong trend in the near future. In the future, we will continue to pay attention to the impact of the international crude oil market, the external market, the dynamics of pure benzene and downstream devices, and changes in demand on the price of pure benzene.

1、 Trend analysis

As shown in the figure above, copper prices fell slightly on the 6th, with the spot price of 72856.67 yuan / ton, down 1.24% from the previous day, up 5.5% from the beginning of the year and up 0.06% year-on-year.

U.S. stocks fell sharply, market risk appetite cooled, and Lun copper closed down 0.53% overnight. Weak global economic data dragged down metal demand, and the epidemic shrouded the top, suppressing the market bulls’ motivation to enter. Weak global economic data dragged down metal demand. Among them, the industrial data of Germany, the largest economy in Europe, fell more than expected, and the manufacturing activity of China, the world’s largest metal consumer, shrank in April, while the manufacturing activity of the United States, the world’s largest economy, also slowed in April, casting a shadow on the prospect of basic metal demand, adding that the domestic epidemic is still spreading continuously, And continue to envelop the market, suppress the market bulls’ motivation to enter, and the epidemic has a significant impact on the economy. Copper prices are expected to be weak in the short term.