Trade name: ammonium sulfate

Latest price (December 23): 566.67 yuan / ton

Analysis points: on December 23, ammonium sulfate market fluctuated in a narrow range, slightly downward. The main factory quotation of ammonium sulfate in Henan Province is 530-570 yuan / T. The main price of powdered ammonium sulfate in Hebei Province is about 600 yuan / ton, which is relatively stable. The mainstream ex factory quotation of ammonium sulfate in Shandong Province is about 400-575 yuan / ton, slightly down. The mainstream ex factory quotation of ammonium sulfate in Hunan Province is about 700 yuan / ton, which is relatively stable. The internal price is mainly consolidated, and the price has no obvious fluctuation. Ammonium sulfate analysts believe that the overall market trading atmosphere of ammonium sulfate is general, manufacturers’ inventory is low, port inventory is not high. However, the downstream demand is general, and the new orders are limited. It is expected that the price of ammonium sulfate will be stable in the short term.

Last week (12.14-18), the price of domestic polycrystalline silicon stopped falling slightly, and the market gradually stabilized. The domestic market and imported material prices did not change much compared with the beginning of December. According to the monitoring of the business agency, the price of polysilicon rose or fell by 0% last week. The main reason is that although the operating rate of enterprises has increased and the supply remains stable, the market demand is slightly enlarged by the impact of centralized procurement before the festival.

In December, especially in the first ten days, the domestic polysilicon market continued the previous trend, and the price still fell, but since the middle of the year, the market gradually stopped falling. In terms of supply, at present, the operating rate of domestic polysilicon manufacturers has rebounded. Up to now, about 11 domestic polysilicon manufacturers have maintained about one maintenance or load reduction start-up. It is expected that they will resume production in the near future. The supply volume is still increasing compared with the previous period. Most enterprises’ inventory has no obvious upward trend and is still controllable. This is mainly due to the recent increase of downstream manufacturers In the process of rapid digestion, the purchase volume of silicon wafer manufacturers increased significantly compared with that in November, and the situation of enterprises signing orders continued. Most enterprises signed orders in December, and a few large factories began to sign new orders in January next year. This mainly depends on the stability just needed at present. According to the monitoring of the business agency, the domestic mainstream transaction price of polysilicon is 53000-55000 yuan / ton, and the non China price of polysilicon is 64000-66000 yuan / ton.

In the near future, the supply of polycrystalline silicon is relatively abundant, and the operating rate of enterprises is expected to reach a new high in the near future. However, affected by the downstream silicon wafer procurement increment, polysilicon may maintain the pattern of both supply and demand. Polycrystalline silicon is expected to be better, and the price is expected to recover.

Note: the above price is tax inclusive

Dimethyl ether Market showed a continuous upward trend during the week, with many favorable factors in the market, which supported the continuous rise of prices. According to the data monitoring of business agency, the average price of dimethyl ether in Henan market on December 14 was 3013.33 yuan / ton, and that on December 17 was 3203.33 yuan / ton, with an increase of 6.31% in the week and 5.95% in comparison with the same period last year.

As of December 17, the quotation of each region is as follows:

Regional specification Date Quotation

The mass fraction of dimethyl ether in Shandong area: ≥ 99.0%, December 17, 3280 yuan / ton

The mass fraction of dimethyl ether in Hebei area: ≥ 99.0% December 17 3210 yuan / ton

The mass fraction of dimethyl ether in Henan Province: ≥ 99.0% December 17 3120-3190 yuan / ton

More than half a month after December, dimethyl ether continued the upward trend, the overall price continued to rise, the price rise was more obvious this week, manufacturers continued to raise the ex factory price. Take Henan xinlianxin as an example. On Monday (14th), the price of xinlianxin dimethyl ether stabilized at 3000 yuan / ton. On Tuesday, the ex factory price was continuously raised, ranging from 30 to 70 yuan / ton. As of Friday (18th), the price of xinlianxin dimethyl ether rose to 3200 yuan / ton, and the price was increased by 200 yuan / ton compared with Monday.

There were many positive factors in the week. First of all, in terms of cost of methanol, the market of methanol continued to rise this week, and the rise of raw materials obviously brought obvious support to dimethyl ether. Some methanol manufacturers have increased the ex factory quotation by 50-80 yuan / ton. According to the monitoring data of business agency, as of December 15, the average price of methanol producers in Shandong was 2210 yuan / ton, with the price rising by 4.12% on a month on month basis and 4.25% on a year-on-year basis. At present, the market price of methanol in Northwest China continues to rise, some enterprises can ship temporarily, and the freight is still firm. The price of receiving goods in the lower reaches of Shandong province keeps up with the increase, and the profits of traders are still remaining, mainly pursuing the rise.

Secondly, the trend of LPG civil market improved, and the overall stop falling and upward trend brought a certain boost to the DME market. During the week, international crude oil continued to rise, the news side was good for the market mentality. The LPG market is mainly affected by this positive behavior, the price rise in South China is more obvious, and the Shandong market is mainly down and then rising.

In the cost of methanol and liquefied gas civil market both higher support, dimethyl ether prices continued to rise. In addition, the terminal demand has improved compared with the earlier stage, and the downstream market entry atmosphere is more positive. Under the buying up mentality, the market is mainly replenished, and the market transaction atmosphere is good. In terms of supply, the domestic DME market operating rate this week has decreased compared with that of last week. At present, most manufacturers’ inventory is at a low level and their mentality is relatively strong.

Overall, the cost of methanol is high, the price of crude oil is rising, the trend of liquefied gas is improving, and there are still some favorable factors in the market. In addition, manufacturers have no pressure on inventory, and their mentality is mainly firm. And affected by seasonal factors, the current winter weather is relatively cold, the terminal still needs to purchase. Generally speaking, the end of the year is approaching, and the DME market is expected to end in 2020 with a rise.

1、 Price trend

According to the monitoring of bulk data of business agency, the mainstream domestic styrene price fell first and then rose this week, but it still fell by 8.93% compared with last Friday. On Monday (December 14), the price of sample enterprises of business agency was 7366.67 yuan / ton, while on Friday (December 18), the price of sample enterprises was 6916.67 yuan / ton, a decrease of 6.11%. The price fell by 7.37% compared with the same period last year.

2、 Market analysis

The market price of styrene fell first and then rose this week. On December 14, East China styrene closed at around 7300-7400 yuan / ton, and on December 18, 6800-7000 yuan / ton, down by 500 yuan / ton. The above is Zhangjiagang export price. On December 14, South China styrene closed at 8100 yuan / ton, and on December 18, 7600 yuan / ton, down 500 yuan / ton, and the prices of the above factories were delivered. Generally speaking, styrene showed a situation of first falling and then rising this week.

In terms of raw materials, crude oil fluctuated in a narrow range during the week, and the overall price rose. In terms of pure benzene, the price of pure benzene showed a downward trend, following the trend of styrene. As of Friday (December 18), the mainstream quotation of pure benzene was 4486.00 yuan / ton, down 20 yuan / ton or 0.44% from 4506.00 yuan / ton on Monday (December 14).

In terms of ethylene, the international oil price rose, ethylene cost was strongly supported, and the price rose steadily. As of Friday (December 18), the mainstream ethylene price was 981.25 yuan / ton, up 20.5 yuan / ton or 2.13% from 960.75 yuan / ton on Monday (December 14).

In terms of inventory, the total inventory in East China continued to decline sharply this week, with total inventory of 41200 tons in East China this week, down 40.08% from 69600 tons last week. The closure of the Yangtze River has delayed the arrival of styrene cargo. In terms of domestic styrene, the styrene operating rate decreased slightly this week, with an average operating rate of 78.2% last week and a decrease of 0.18% to 78.02% this week. The overall social inventory remains low, and market supply is expected to continue to decline.

Downstream, the overall price of styrene in the lower reaches of this week, but still maintain considerable production and marketing profits. In the PS market, as of Friday (December 18), the mainstream ex factory price of PS in East China was 9500.00 yuan / ton, down 633.33 yuan / ton or 6.25% from 10133.33 yuan / ton on Monday (December 14). Affected by the continuous weakening of styrene price, the bearish mentality of PS market appears, the atmosphere of market price reduction and shipment is strong, and the actual transaction is weak.

As of Friday (December 18), the mainstream EPS ex factory quotation in East China was 8950.00 yuan / ton, down 750 yuan / ton or 7.733% from 9700.00 yuan / ton on Monday (December 14). The continuous fall of styrene price led to the downward trend of EPS market price. In addition, due to the influence of limited power supply, environmental protection and orders in some downstream areas of EPS, the overall operation was insufficient, the demand for EPS was weak, the market supply circulation was slow, the market bearish mentality was obvious, the market transaction was mainly small orders, and the overall trading performance of the market was poor.

In the ABS market, as of Friday (December 18), the mainstream ex factory quotation of ABS Zhejiang was 16750.00 yuan / ton, down 150 yuan / ton or 0.89% from 16900.00 yuan / ton on Monday (December 14). On the one hand, the domestic ABS market this week was driven by the fall of styrene price, which resulted in insufficient cost support. On the other hand, affected by containers, some home appliances exports were affected, which led to the increase of ABS inventory. Some ABS petrochemical plants had accumulated stocks, leading to the reduction of ex factory prices.

3、 Future prospects

The strong crude oil finishing has a support for the cost side of styrene. The delay of shipping schedule leads to the continuous de stocking of the wharf to the historical low level. The situation of styrene supply side is generally acceptable, but the downstream demand is weak. The mainstream downstream is mainly supported by rigid demand, and the gas purchase is insufficient. If the terminal unsealing is delayed, styrene will be strongly supported in the short term, so it is necessary to pay attention to the arrival of imported vessels. It is expected that the styrene market will change greatly next week, with a wide range of 7300-7800 yuan / ton.

This week, the price of titanium concentrate in Panxi area is stable, and some prices are slightly loose. Downstream buyers are under great pressure and mainly wait-and-see, and the actual transaction situation is general. Up to now, the price of 46,10 titanium ore is 1890-2100 yuan / ton for small and medium-sized manufacturers, 2050 yuan / ton for 47,20 ore and 1320-1350 yuan / ton for 38,42 ore without tax. Business Club titanium concentrate analysts believe: downstream cost pressure, procurement is more cautious, titanium concentrate shipping pressure. In the short term, the price of titanium concentrate is stable. It is a single opinion.