On September 4, the price of metal cobalt in the domestic non-ferrous metal spot market was temporarily stabilized. The average price of cobalt was 486875.00 yuan/ton, which was stable compared with the previous trading day.

On September 4th, the price of metal cobalt in major domestic manufacturers was temporarily stabilized. The average price of cobalt ex-factory was 52,5000.00 yuan/ton, which was stable compared with the previous trading day.

On September 3, the cobalt commodity index was 175.13, which was the same as yesterday. It was 26.70% lower than the highest point of 238.91 points (2018-04-15) in the cycle, which was 150.76% higher than the lowest point of 69.84 on July 5, 2016. (Note: Period refers to 2011-09-01 to date).

On September 4, the domestic cobalt price was temporarily stabilized, and the price of cobalt powder in Shanghai fell, and the actual transaction price remained stable. On September 4, the domestic cobalt price of Wuxi Stainless Steel Electronic Trading Center was 466,000-496,000 yuan/ton, and the price of cobalt was stable. On September 4, the stock was 571.25 tons, and the inventory was reduced by 1.5 tons. The supply of cobalt is at a high level, and downstream enterprises are purchasing on demand, but the market is still dominated by wait and see. According to the data of China Automobile Association, in July, the production and sales of new energy vehicles in China were 90,000 and 84,000 respectively, up 53.6% and 47.7% respectively over the same period of last year. The growth rate of new energy vehicles has declined, but the performance is still good. According to market expectations, the performance of new energy vehicles is positive for the stability of cobalt prices, but it is difficult to change the downward trend of cobalt prices. However, due to the absolute high cobalt price in the previous period, the import cost of cobalt ore is relatively high, and the space for cobalt price decline is limited. In terms of market outlook, there is no major change in the supply and demand of cobalt. The overall supply of cobalt is oversupplied, the price of cobalt is difficult to maintain, and the domestic cobalt price is still at risk of decline. It is expected that the price of cobalt in the market will fluctuate and stabilize.

First, the price trend

According to the price monitoring of the business community, the aggregate MDI price this week closed at 17,250 yuan / ton, down 50 yuan / ton from last week, down 0.29% from last week.

Second, the analysis of influencing factors

Product: The domestic aggregate MDI market fell in a narrow range. Jinan Hequn Trading Co., Ltd. reported MR200 17000 yuan / ton; Guangzhou Boshun Chemical Co., Ltd. MR200 17000 yuan / ton; Nanjing Charcoal Chemicals Co., Ltd. reported MR200 199000 yuan / ton; Zhangjiagang Free Trade Zone Pan Asia International News MR200 17200 yuan / ton .

Industry chain: This month’s aggregate MDI was affected by the complementary product 141b, and the price fell sharply, falling to the lowest point of the year. It is reported that as a convergent MDI complement 141b, due to environmental factors, prices have skyrocketed, domestic supply is limited, manufacturers supply limited supply, supply is in short supply, resulting in low downstream operating rate, the demand for polymeric MDI decline, resulting in a sharp drop in prices, the industry panic I don’t know if this wave is suitable. It is expected that the short-term will not be resolved, the price will not increase significantly, and the follow-up price will continue to drop.

III. Conclusions and prospects

Business analysts believe that it is difficult to solve the problem of 141b in the short term, and the price will not rise sharply. The follow-up price will continue to drop.

As the downstream demand for pure benzene in Asia has been very strong, and the new capacity is limited, the supply of pure benzene in this year is tight. According to relevant statistics, this year, the demand for pure benzene in the Asian region will increase by one year, and the newly added capacity is only in Vietnam and the Middle East, with a total annual production capacity of 650,000 tons, which is obviously insufficient.

Since the end of 2016, the supply of pure benzene in Asia has been tight, causing spot prices to soar to about $1,000 per ton in early 2017. In 2017, a pure benzene plant with an annual production capacity of 500,000 tons was put into operation in India. Several Korean manufacturers have expanded their capacity during the overhaul of the cracker to increase the original benzene production capacity by 400,000 tons per year. Nonetheless, due to the failure of related equipment operations and the increase in demand for benzene, the supply of benzene in the Asian market in 2017 is still insufficient.

According to a Reuters report on August 27, trade sources said on Monday that ONGC Videsh had sold 1 million barrels of Abu Dhabi Das crude oil to Dubai at a premium of $1.30 to $1.40 per barrel.

They said that the oil loaded from September 28 to 30 will be awarded to Glencore.

They estimate that the price will be about 70 cents a barrel lower than the official selling price (OSP).

Earlier this year, a consortium led by the Indian oil and gas company won a 10% stake in the offshore oil concession of Abu Dhabi National Oil Co.