According to the Commodity Market Analysis System of the Business Society, as of April 19, the average price of epoxy propane enterprises was 9465.00 yuan/ton, a decrease of 0.79% compared to last Thursday (April 13).

The recent market situation of epoxy propane has been stagnant and showing weak performance. Recently, the prices of raw materials such as propylene and liquid chlorine have risen, leading to increased cost support. Last Friday, there was a slight accumulation of inventory on the supply side, but the pressure was controllable. The enthusiasm for downstream procurement was not high, and the market outlook showed weak consolidation. At the beginning of this week, shipments from factories in production were flat, and downstream prices were kept low. The market outlook atmosphere was strong. On the 19th, the mainstream quotation for epoxy propane in the Shandong region was around 9550-9700 yuan/ton.

Upstream propylene, according to the commodity market analysis system of the business community, the price of propylene in Shandong has risen recently. On April 18, the reference price of propylene was 7400.60, up 3.67% from April 1 (7138.60).

The epoxy propane analyst at Business Society believes that the current cost support is average, with stable supply side devices being the main focus, and downstream cautious and low volume follow-up. The market atmosphere is average, and it is expected that the epoxy propane market may wait and see for consolidation and operation in the short term, and more attention needs to be paid to market news guidance.

Product name: Sulfuric acid

Latest price (April 18th): 251.67 yuan/ton

On April 18, the price of domestic sulfuric acid market fell slightly, 13.33 yuan/ton lower than that on April 17, a 5.03% drop, and 79.11% lower than that on the same period last year. From the perspective of the upstream and downstream industry chains, the upstream sulfur market has recently experienced a slight decline, with insufficient cost support. The downstream markets of hydrofluoric acid and titanium dioxide were consolidated at a high level, and downstream customers were more active in purchasing sulfuric acid. The product trend declined under the contradiction between supply and demand.

Recently, the price of domestic sulfuric acid market has dropped slightly, and the average market price is about 240 yuan/ton.

Price trend

Recently, the domestic ABS market has declined, and spot prices have often declined. According to the Commodity Market Analysis System of the Business Society, as of April 17th, the average price of ABS sample products was 11600 yuan/ton, a decrease of -1.17% compared to the average price level at the beginning of the month.

Cause analysis

On the supply side: Last week, the high load situation in the ABS industry saw a slight increase, with some companies experiencing an increase in operating rates. As a result, the overall operating rate of domestic ABS has increased to around 98%, almost fully operating. On site spot supply is abundant, competition intensifies, and supply side pressure is high. The inventory of domestic enterprises has increased, and the main inventory pressure is concentrated in the middle reaches. Merchants are under pressure, and the prices are falling.

In terms of raw materials, the overall performance of ABS upstream three materials has been weak recently. The market fluctuation of raw material acrylonitrile is relatively narrow. Last week, there was a slight improvement in cost support, while supply and demand remained stable. Upstream inventory pressure was not significant, and there was a strong willingness to increase prices. Downstream demand was mainly in demand, with stable demand. The current propylene market is in a stalemate, and with downstream procurement continuing to follow up, it is expected that the propylene market will have a strong trend in the near future.

Recently, the domestic butadiene market has slightly declined, and the market atmosphere is relatively empty due to the news of low prices in the external market and the reduction of Sinopec’s supply prices. The lack of sustained support from the demand side on the market, coupled with some inquiries indicating a clear intention to lower prices, has led to a slight weakening of the market focus. It is expected that the domestic butadiene market will fluctuate and consolidate in the short term.

Last week, the styrene market slightly declined. International oil prices have fallen, with poor cost support. There is sufficient domestic supply, but it is rumored that some companies have maintenance plans in the near future and there are expectations of supply reduction. The news suggests that the market has formed a certain recovery, but the market’s long short entanglement pattern remains unchanged. It is expected that the short-term adjustment of the styrene market may be relatively small.

In terms of demand: Recently, downstream factories, including the main terminal appliance industry, have shown 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 was weak, and the smoothness of goods delivery decreased.

Future Market Forecast

Recently, the overall trend of ABS upstream three materials has been weak, which has weakened the cost support for ABS. The petrochemical plant is almost fully operating, and the market supply of goods continues to be abundant. Poor demand side support, overall maintaining a weak and rigid demand pattern. The high inventory of mid stream channel merchants has increased, and the mentality of merchants has weakened, resulting in frequent operations of selling 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.

1、 Price trend

According to the Commodity Market Analysis System of the Business Society, as of April 14th, the average price of refrigerant R22 was 20666.67.00 yuan/ton, a decrease of 0.80% from the beginning of the month’s price of 20833.33 yuan/ton, and an increase of 16.98% compared to the same period last year

According to the Commodity Market Analysis System of the Business Society, as of April 14th, the average price of refrigerant R134a was 25333.33 yuan/ton, a decrease of 0.65% compared to the initial price of 25500.00 yuan/ton at the beginning of the month and an increase of 2.70% compared to the same period last year.

2、 Market analysis

As of April 14th, the price of upstream trichloromethane fell by 5.61% during the month, while the price of hydrofluoric acid increased by 5.69%. In March, the price of trichloromethane raw materials surged and fell significantly, but this week saw a slight rebound. Although the price of hydrofluoric acid has slightly rebounded, it is still at a relatively low level overall. Lower costs have formed a certain pressure on refrigerant prices. Due to the arrival of the refrigerant peak season and the need for support, the price of refrigerant R22 has slightly weakened this week.

In April, the domestic price of trichloroethylene continued to decline, and although the price of hydrofluoric acid has slightly rebounded, it is still at a relatively low level overall. The cost of R134a raw materials has weakened due to the fluctuation, and under cost suppression, the domestic price of R134a has slightly weakened this week.

In terms of raw materials, the domestic price of hydrofluoric acid has bottomed out and slightly rebounded. Overall, the price of hydrofluoric acid is still at a relatively low level. The bottoming out and rebound of hydrofluoric acid prices, coupled with the support of summer refrigerant demand, will provide some support for domestic refrigerant prices in the future.

3、 Future Market Forecast

Refrigerant analysts from Business Society believe that in the short term, with the fluctuation of raw material costs and a low-pressure system, the prices of domestic refrigerants R22 and R134a will still have some room for decline. Supported by the peak demand season for refrigerants, the overall price decline space for R22 and R134a is limited.

On April 6th, the average market price in the East China region was 197560 yuan/ton, a decrease of 2.85% compared to the previous trading day. The mainstream quotation range for 1 # tin ingot in the domestic spot tin market is 197000-198500 yuan/ton, with an average price of 197750 yuan/ton, a decrease of 5750 yuan/ton compared to the previous trading day.

The overnight US dollar closed up 0.32% again, with the metal market generally under pressure. Lunxi fell 2.01%, and the domestic market was closed on the 5th due to the Qingming Festival holiday. Therefore, Shanghai Tin opened early today to make up for losses. As of the close of the 6th, the closing settlement price of the Shanghai Tin Main 2305 contract was 197580 yuan/ton, a decrease of 5%.

Fundamentally speaking, the supply side is slightly affected by the tight supply at the mining end, and refined tin companies are afraid of a decline in operating rates in the market. However, the overall operating rate remains relatively stable at around 60%. The demand side remains weak. In terms of inventory, Lunxi’s inventory has dropped to 1855 tons, reaching a low level in nearly a year. Shanghai tin inventory has been declining for four consecutive weeks, with the latest data at 8639 tons, which is also at a low level in the past month. Due to the low inventory of tin, it is more susceptible to macroeconomic factors, causing frequent market fluctuations. Overall, downstream demand is still weak, and the overall operation of the tin market is expected to be weak due to the lack of actual demand support.