Price trend

In the first half of May, the domestic ABS market was weak, and spot prices gradually declined. According to the Commodity Market Analysis System of Business Society, as of May 15th, the average price of ABS sample products was 11125 yuan/ton, a decrease of -1.98% compared to the average price level at the beginning of the month.

Cause analysis

In terms of supply: Recently, the high load situation in the ABS industry has continued, with enterprises resuming work and maintenance, and the overall load is showing an increasing pattern. In the middle of the month, China’s ABS operating rate is close to 90%, and recently, the overall narrow adjustment has been around 88%. The on-site spot supply continues to be abundant, competition intensifies, and supply side pressure is high. The inventory of domestic enterprises has increased, while the mid stream inventory has remained stagnant at a high level. Merchants are under pressure, and their prices have declined.

In terms of raw materials: Recently, the overall performance of ABS upstream three materials has increased and decreased. The raw material acrylonitrile market has slightly increased. Since May, the domestic operating rate of acrylonitrile has remained around 6.5%, and the supply pressure has slightly eased. Although the demand side still has strong demand support, it has weakened compared to the previous period, coupled with a downward trend in the cost side, and it is expected that the acrylonitrile market will fluctuate slightly in the short term.

Recently, the domestic butadiene market price has fallen. Affected by external market prices and low prices from mainstream domestic suppliers, with Sinopec’s supply prices dropping twice and some merchants still showing a bearish mentality, the butadiene market has significantly declined. Currently, there are many devices that have been shut down, and production is expected to continue to decline, with strong market supply support. However, in the short term, downstream demand continues to be weak, and it is expected that the domestic butadiene market will mainly fluctuate and consolidate.

From the figure below, it can be seen that according to the analysis system of the commodity market of the Business Society, the styrene market has declined in the past half month. The international oil price has fallen, and cost support is poor. Recently, there have been equipment maintenance and restart for styrene, and new equipment has entered the production stage. It is expected that the short-term volatility in the styrene market will be mainly lower.

In terms of demand: Downstream factories working in May, including the main terminal appliance industry, have average enthusiasm for stocking up. The manufacturer’s mentality is cautious and wait-and-see, and overall demand improvement is limited. The actual trading volume on the market is weak, and the smoothness of goods delivery is poor.

Future Market Forecast

Recently, the upstream three materials of ABS have seen a decline and a decrease, which has resulted in insufficient support for the cost side of ABS. Nearly 90% of petrochemical plants have started construction, and the market supply continues to be abundant. Poor demand side support, overall maintaining a weak and rigid demand pattern. The stacked inventory position has increased, leading to a softening of merchants’ mentality and a bias towards giving up profits and taking orders. It is expected that in the short term, the ABS market may continue to be weak due to the impact of supply and demand contradictions.

According to data monitored by Business Society, as of May 12th, the average price of domestic industrial grade premium cyclohexane was 7333.33 yuan/ton. This week, the price of cyclohexane was stable and slightly strong, with a price increase of 1.15% compared to the same period last week. The overall market supply and demand are balanced, and the focus of negotiations is stable.

This week, the average price of domestic industrial grade premium product cyclohexane was around 7333.33 yuan/ton. The overall market negotiation center was stable, and logistics was smooth. Downstream procurement was mainly for immediate needs, and the willingness to stock up was not strong. The manufacturer made concessions and took orders.

Chemical Index: On May 11th, the chemical index stood at 890 points, a decrease of 5 points from yesterday, a decrease of 36.43% from the highest point in the cycle of 1400 points (2021-10-23), and an increase of 48.83% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

Cyclohexane analysts from the Business Society believe that the market price of cyclohexane is stable and strong in the short term.

1、 Price trend

According to the monitoring of the Commodity Market Analysis System of the Business Society, the isopropanol market rose first and then fell this week, with a slight overall increase. Last Thursday, the average price of isopropanol in China was 7120 yuan/ton, while this Thursday’s average price was 7190 yuan/ton. The price increased by 0.98% during the week.

The isopropanol market rose first and then fell this week, with a slight overall increase. At present, the market situation is not warm or hot, with upstream acetone prices fluctuating slightly and propylene prices falling, and cost support being average. The traders’ enthusiasm for taking goods is not high, and the market price fluctuates. As of now, the majority of quotations for isopropanol in the Shandong region are around 6850-7000 yuan/ton; The majority of prices for isopropanol in the Jiangsu and Zhejiang regions are around 7300 to 7700 yuan/ton.

In terms of raw material acetone, the acetone market has declined this week. Last Thursday, the average price of acetone was 6220 yuan/ton, while this Thursday’s average price was 6601.25 yuan/ton. The price has been reduced by 0.28%. The price of acetone has fluctuated and declined, with strong downstream wait-and-see sentiment and cautious orders. The shipment situation of holders is average.

In terms of propylene, the propylene market fell this week. Last Thursday, the average price of propylene in Shandong was 7052.6 yuan/ton, while this Thursday’s average price was 6880.6 yuan/ton. During the week, the price decreased by 2.44%. The inventory of manufacturers has slowly increased, and the export pressure of propylene enterprises has increased. The trend of polypropylene market has declined, and the demand in the downstream market is weak. The overall market has weakened, and the downstream is more wait-and-see, with steel demand being the main demand. The price of propylene has decreased.

3、 Future Market Forecast

Isopropanol analyst from the Chemical Branch of the Business Society believes that the price of raw acetone has fluctuated and decreased, while the price of propylene has decreased. The support for raw materials is average, while downstream demand is tepid and tepid. Downstream and traders are cautious in purchasing and are more wait-and-see. It is expected that the isopropanol market will be weak in the short term and will continue to consolidate and operate.

1、 Price trend

According to the commodity analysis system of the business agency, the price of neopentyl glycol in the domestic market rose slightly this week. This week, the average price of the mainstream market of neopentyl glycol in China rose from 10266.67 yuan/ton at the beginning of the week to 10766.67 yuan/ton at the end of the week, up 4.87%. Weekend prices fell by 37.88% year-on-year. On May 8th, the new pentanediol commodity index was 51.89, unchanged from yesterday, a decrease of 49.92% from the cycle’s highest point of 103.61 points (2021-09-22), and an increase of 20.53% from the lowest point of 43.05 points on November 28th, 2022. (Note: The cycle refers to the period from September 1st, 2021 to present)

2、 Market analysis

The price of neopentyl glycol in the mainstream market rose slightly this week.

From the perspective of neopentyl glycol upstream raw material market, the domestic isobutyraldehyde market price rose sharply this week. This week, the average price of domestic isobutyraldehyde mainstream market rose from 7433.33 yuan/ton at the beginning of the week to 9516.67 yuan/ton at the end of the week, up 28.03%. Weekend prices fell by 37.25% year-on-year. The price of upstream raw materials market rose sharply, with good cost support. Affected by the supply and demand, it has a positive impact on the price of neopentyl glycol.

3、 Future prospects

In mid to early May, the market trend of new pentanediol may fluctuate slightly and rise mainly. The upstream isobutyraldehyde market has seen a significant increase, with good cost support. The downstream paint market is average, and the enthusiasm for downstream procurement has weakened. Analysts from Business Society believe that in the short term, the market for new pentanediol may experience slight fluctuations and gains due to various factors such as supply and demand, as well as raw materials.

1、 Price trend

Taking the sulfuric acid rutile titanium dioxide with a large volume of goods in the domestic market as an example, according to the monitoring data of the business community, the market price of titanium dioxide is basically stable this week. The average price of domestic titanium dioxide is 16950 yuan/ton.

2、 Market analysis

The domestic titanium dioxide market is basically stable this week. Overall, the performance of the international market is decent, while the trading situation in the domestic market is relatively light. The actual transactions in the market are cautious, and downstream customers are more wait-and-see and purchase according to demand. At present, the cost pressure on enterprises is high, and the quotation remains firm. Up to now, most domestic rutile titanium dioxide quotations are between 16000-17500 yuan/ton; The quotation of anatase titanium dioxide is about 14500-15000 yuan/ton.

In terms of titanium concentrate, the price of titanium concentrate in Panxi region remained stable this week. At present, the spot supply of titanium concentrate in the market is still somewhat tight. Recently, due to environmental inspections in the Chengde area, mining enterprises have basically stopped production. Downstream titanium dioxide enterprises are under cost pressure, with an increase in procurement inquiries and a focus on wait-and-see. Actual transactions are relatively cautious. As of now, the tax-free quotation for grade 38 42 titanium ore is around 1550-1600 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2250-2280 yuan/ton, and the quotation for grade 47 20 titanium concentrate is around 2350-2400 yuan/ton. In the short term, the market price of titanium concentrate is stable for the time being, and the actual transaction price is discussed separately.

In terms of sulfuric acid, the price of domestic sulfuric acid market fell this week. The price of sulfuric acid has been lowered from 218.33 yuan/ton on Monday to 215 yuan/ton on Friday, with a price reduction of 1.53%. The upstream sulfur market has recently experienced a slight decline, with average cost support. The downstream markets of hydrofluoric acid and titanium dioxide were consolidated at a high level, while the market of ammonium sulfate fell slightly, and downstream customers were generally enthusiastic about purchasing sulfuric acid.

3、 Future Market Forecast

Titanium dioxide analysts from the Business Club believe that the price of sulfuric acid market will be lowered, and the price of titanium concentrate in Panxi will remain stable. The cost support of titanium dioxide is weak, and the domestic titanium dioxide market is light. It is expected that titanium dioxide will continue to operate stably in the short term, and the actual transaction price will be discussed separately.