After the National Day holiday, affected by the surge of crude oil, the market was positive, and started the mode of pulling up for three consecutive days. According to the monitoring data of the business community, the average offer of domestic acetone market was 5750 yuan/ton on October 7 (i.e. the price before the festival), and 6325 yuan/ton on October 10, up 10% on the third day. The offer in the East China market is about 6100-6150 yuan/ton, the offer in South China is 6200 yuan/ton, and the offer in North China and surrounding areas of Shandong is 6400-6450 yuan/ton
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Trend Chart of Average Acetone Market Price in Mainstream Regions of China
During the festival, crude oil futures rose sharply. As an important petrochemical product, acetone had a great impact from the macro perspective. After the holiday, the settlement price of the main WTI contract in the United States was 92.64 dollars/barrel, up 16.5% during the holiday. The settlement price of the main contract of Brent crude oil futures was 97.92 dollars/barrel, up 15% during the holiday. The expected tightening of oil supply is mainly due to the sharp production reduction of the Organization of Petroleum Exporting Countries and its allies (OPEC+) and the escalation of geopolitical conflicts. On October 9, Sinopec raised the listing price of acetone in East China by 500 yuan/ton to 6000 yuan/ton, Sinopec raised the listing price of acetone in North China by 400 yuan/ton to 6100 yuan/ton, and on October 10, Lihua Yiweiyuan raised the listing price by 200 yuan/ton to 6400 yuan/ton. The factory price rose again, and the profits of phenol ketone enterprises rose.
The market circulation supply is still tight. During the National Day, the import goods were delayed to arrive, and the port stock dropped to 20000 tons. The market circulation goods again entered a tense situation, and the supply of goods was concentrated in the hands of a few traders. The cargo holders were positive. In addition, acetone continued to rise before the festival, and some downstream companies had to stock up because of the impact of costs. After the festival, they had to purchase again, and the market activity rose again after the festival.
After the festival, the single up regulation of upstream pure benzene has strong support for acetone. Affected by the surge of crude oil during the holiday, the opening order of pure benzene was raised on the first day after the holiday. On the 10th, the mainstream transaction price in East China was 8250-8280 yuan/ton, while that in Shandong was 8300-8350 yuan/ton. After the continuous rise, many traders took profits and the increase slowed down. At present, Shandong is still strong, the local refinery has limited inventory, and downstream procurement is still good.
The downstream bisphenol A market fluctuated in a narrow range as a whole. Although the negotiation declined, it still remained at a high level. The market negotiation was at 15400-15600 yuan/ton. The downstream cost pressure continued to rise before the festival, and the demand decreased. The downstream epoxy resin and PC also declined as a whole, increasing their profit margin. The first auction after the festival fell significantly. At present, the mentality of both the buyer and the seller is more tangled, and the short-term narrow range adjustment of bisphenol A is mainly.
With the port replenishing in succession, and the purchase of high priced raw materials slowed down after the terminal just needed replenishing for a period of time, on the afternoon of the 10th, the market saw that the negotiation in East China was somewhat loose, and the intention of traders to ship increased, but other regions were still nervous, the market transaction volume was insufficient, and the transaction was average. The business agency expects the domestic acetone market to fluctuate in a narrow range, focusing on the actual orders on the market.
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