On September 2, the price of zinc fell sharply

According to the data monitoring of the business association, the zinc price fell sharply on September 2, and the zinc market fell. On September 2, the average market price of zinc ingots in East China was 24372 yuan / ton, down 3.06% from 25142 yuan / ton on the previous trading day, up 7.75% year-on-year.

Key points of analysis

The US and the European Central Bank are about to raise interest rates, the price of zinc in London has plummeted, Europe is considering decoupling natural gas from the electricity market, and energy prices have fallen recently. It is expected that the start of zinc smelting in Europe will pick up, the speculation in the zinc market will cool down, and the supply of zinc is expected to pick up. In the domestic market, the temperature has dropped and the precipitation has increased. Sichuan Province and Chongqing have resumed normal industrial and commercial power consumption. Zinc smelters affected by power shortage have resumed operation one after another, and the support of zinc price rise has weakened.

Future forecast

European energy prices have fallen, zinc market supply is expected to recover, domestic industry and Commerce have resumed power supply, supply and demand of zinc industry chain have recovered balance, domestic macro-economy is weak, and zinc market demand is still weak. It is expected that zinc prices will fall from a high level in the future.

It can be seen from the trend chart that the market price trend of p-xylene is declining. The domestic price of p-xylene is 8800 yuan / ton. Recently, the domestic supply of p-xylene is normal, the domestic PX operating rate is more than 70%, the domestic supply of p-xylene is general, and the operation of overseas units is normal. The domestic price trend of p-xylene is declining. The international oil price trend has declined recently, but the external price of PX has dropped slightly. On the 31st, the closing price in Asia was US $1037-1039 / T FOB Korea and US $1055-1057 / T CFR China. Recently, the operating rate of PX units in Asia is normal. On the whole, the operating rate of paraxylene units in Asia is about 60%, and the supply of PX goods in Asia is normal. Chen Ling, PX analyst of business society, believes that the current short-term crude oil price is slightly lower, The downstream PTA and textile industry started to rise, and the market price trend of paraxylene in the later period was temporarily stable.

1、 Price trend

It can be seen from the above figure that the market price of domestic neopentyl glycol fluctuated and fell this month. The average price of the mainstream market of domestic neopentyl glycol dropped from 10900.00 yuan / ton at the beginning of the month to 9966.67 yuan / ton at the end of the month, a decrease of 8.56%. On August 31, the neopentyl glycol commodity index was 48.03, which was the same as yesterday, down 53.64% from the highest point 103.61 in the cycle (September 22, 2021), and up 3.09% from the lowest point 46.59 on August 20, 2022. (Note: the period refers to September 1, 2021 to now).

2、 Market analysis

 
This month, the quotations of mainstream manufacturers of neopentyl glycol decreased slightly

From the upstream raw material market of neopentyl glycol, the domestic isobutyraldehyde market price fluctuated and fell. The price of isobutyraldehyde decreased from 7300.00 yuan / ton at the beginning of the month to 7200.00 yuan / ton at the end of the month, a decrease of 1.37%. The factory price of domestic formaldehyde increased slightly this month. The price of formaldehyde decreased from 1206.67 yuan / ton at the beginning of the month to 1253.33 yuan / ton at the end of the month, an increase of 3.87%. The market prices of upstream raw materials rise and fall. Affected by the supply and demand side, it has a negative impact on the price of neopentyl glycol.

3、 Future forecast

The overall trend of the neopentyl glycol market in the middle and early September may be dominated by a small fluctuation. At the end of the month, the market price of isobutyraldehyde in the upstream has an upward trend, the cost support has improved, the market price of the downstream coating is general, and the purchasing enthusiasm of the downstream is general. Analysts of neopentyl glycol of business club believe that under the influence of supply and demand and raw materials, the short-term neopentyl glycol market may rise slightly.

On August 30, the domestic cobalt price fell

According to the data monitoring of the business agency, the cobalt price fell on August 30, and the cobalt market fell. On August 30, the cobalt price was 353300 yuan / ton, down 1.15% from the cobalt price of 357400 yuan / ton on the previous trading day. On August 29, the cobalt commodity index was 128.56, up 0.29 points from yesterday, down 46.19% from 238.91 points, the highest point in the cycle (2018-04-15), and up 84.08% from 69.84 points, the lowest point on July 5, 2016. (Note: the period refers to September 1, 2011 to now).

Key points of analysis

The price of cobalt in LME market rose, the price of MB cobalt surged, and the rise of international cobalt price led to the rise of domestic cobalt price; The temperature has dropped and the precipitation has increased, the power limit in Sichuan Province has expired, the start-up of cobalt salt and lithium salt industry chain enterprises has resumed, the new energy battery market has resumed, and the upward momentum of cobalt market has weakened.

Future forecast

The supply and demand of cobalt market will be balanced when the power limit expires, the international cobalt price will stabilize, and the driving force of cobalt price rise will weaken. It is expected that the high cobalt price will fall in the future.

1、 Price summary of mixed xylene on August 26:

Qingdao refining and Chemical Co., Ltd. offers 8000 yuan / ton, and Shijiazhuang refining and Chemical Co., Ltd. offers 7850 yuan / ton,

Jiujiang Petrochemical offers 8000 yuan / ton, and Yangba offers 7800 yuan / ton,

Guangzhou Petrochemical quoted 8000 yuan / ton, and Maoming Petrochemical quoted 7900 yuan / ton,

Changling Refining and Chemical Co., Ltd. offers 8050 yuan / ton,

Xinhai Petrochemical offers 8050 yuan / ton.

2、 Fluctuation trend:

3、 Analysis comments:

In terms of crude oil, as the organization of petroleum exporting countries led by Saudi Arabia and its allies (OPEC +) sent a signal to reduce production, the market worried about tight supply, and the oil price was supported to rise.

Crude oil rose, while the external mixed xylene fell, and the guidance of external news was general. Today, the gasoline price rose, boosting the mixed xylene market. The on-site trading was general, and the price was temporarily stable.