According to data monitoring by Business News Agency, the prices of industrial and battery grade lithium carbonate fell sharply in March. On March 30, the average domestic mixed price of industrial grade lithium carbonate was 224600 yuan/ton, a decrease of 41.3% compared to the average price of 382600 yuan/ton on March 1. The average domestic mixed price of battery grade lithium carbonate on March 30 was 259000 yuan/ton, a decrease of 35.89% compared to the average price of 404000 yuan/ton on March 1.

According to the observation of market changes, the price of lithium carbonate continued to decline significantly in March. On the supply side, due to the rapid growth rate of China’s lithium industry in 2022, the production of lithium carbonate remained stable in the first quarter of 2023. The gradual warming of temperatures in places such as Qinghai Salt Lake has also led to a sustained increase in domestic lithium carbonate production and a high inventory level. In addition, most lithium salt factories this month mainly signed long-term orders, and the price of lithium carbonate continued to decline. In the atmosphere of buying up rather than falling, market inquiries were relatively light. With the end of the first quarter, some lithium salt factories are facing increased shipping pressure, resulting in low price selling in the market, accelerating the decline in spot prices.

On the demand side, the impact of the current cost side on lithium salt prices has weakened, and the demand side is the dominant factor. In 2023, the sales of new energy vehicles in the downstream market significantly decreased, resulting in a significant discount in the demand for lithium batteries, which led to a decline in the demand for lithium carbonate raw materials. Due to the weak demand in the downstream market, it is difficult for the market supply and demand relationship to support spot prices. Subsequently, the decline in the price of lithium carbonate continued to expand, and the actual transaction was not optimistic. However, the overall recovery of the terminal market was still less than expected, and overall downstream demand remained low and relatively weak.

The downstream lithium hydroxide market fell, and lithium carbonate continued its downward trend in early March. The cost faced with insufficient support for lithium hydroxide, the supply side production started relatively stable, and the market supply was relatively sufficient. However, the demand side slowly recovered, and the downstream follow-up was less than expected. The market atmosphere was weak, and the company’s quotation declined. In the middle of the year, there was a lack of support on the cost side, and the demand side was weak. Manufacturers mainly delivered long-term orders and clinched deals. Current market transactions were limited, and lithium hydroxide prices fell again. In the second half of the year, the support for the cost side weakened again, and the market purchasing atmosphere was depressed. Under the mentality of downstream enterprises not buying up or down, the market actually traded poorly, and the decline in lithium hydroxide continued.

The price of lithium iron phosphate in the downstream fell, but the inflection point did not appear in March as the price of lithium carbonate continued to decline; The price of iron phosphate fell, driving the cost of iron and lithium to continue to decline as a whole. However, there are fewer new orders in the lithium iron phosphate market, resulting in significant shipping pressure, and due to the weakness of the terminal market, the market recovery expectation is prolonged, with no significant short-term increase.

According to lithium carbonate analysts from Business News, the current lithium carbonate market remains in a state of oversupply. With the continuous lowering of prices, there is little left for procurement, except for purchases that are just needed. In order to increase shipments, lithium salt factories and traders have continuously lowered their quotations, and it is expected that the price of lithium carbonate will continue to decline in the short term.

According to data monitoring by the Business News Agency, the acrylonitrile market declined slightly in March. As of March 29, the bulk water price in the acrylonitrile market was 10225 yuan/ton, down 2.62% from 10500 yuan/ton at the beginning of the month. The price of raw material propylene fell, while the cost of acrylonitrile declined; Downstream ABS and polyacrylamide markets are weak, but on-demand procurement still has some rigid support for acrylonitrile; The fundamentals were not significantly positive, while the price of acrylonitrile was weak and slightly lower.

The operating rate of acrylonitrile in China is between 60% and 70%.

In March, the price of raw material propylene fell sharply, while the cost of acrylonitrile declined. According to the monitoring of Business News Agency, as of March 29, the domestic propylene price was 7096 yuan/ton, down 5.66% from 7522 yuan/ton at the beginning of the month.

In March, downstream market prices fell and the market was weak, with weak support for acrylonitrile. Downstream ABS prices have fallen, with industrial unit starts around 80% to 90%, and demand based procurement support for acrylonitrile is generally moderate; Domestic nitrile rubber starts to fluctuate slightly, and its support for acrylonitrile is stable and weak. The price of polyacrylamide continues to decline, providing weak support for acrylonitrile.

Future Market Forecast: Acrylonitrile analysts from the Business Agency believe that on the one hand, the cost of acrylonitrile is declining, and on the other hand, the supply and demand of acrylonitrile are currently deadlocked; It is expected that the acrylonitrile market will weaken and consolidate in the later stage.

According to the bulk list data of Business News Agency, as of March 28, the average price quoted by formic acid companies was 3875.00 yuan/ton, an increase of 8.39% compared to the price on March 1.

In March, the market price of industrial grade 85% formic acid in China was strong and operating. In the first ten days, there was some support for the cost side, with the formic acid operating rate of around 75%, and the supply side recovering. However, the industry was collectively optimistic about the future, with prices rising slightly, and the market atmosphere was active. In the middle of the year, there is little impact on the cost side, with the market mainly relying on inventory digestion, while downstream customers mainly purchase on demand, with the market being stable. In the second half of the year, the cost support was acceptable, the operating rate decreased compared to the previous period, and the market supply contracted, supporting this price increase. The downstream follow-up was acceptable, and the market transactions were orderly.

Cost: For upstream sulfuric acid, on March 27, the reference price for sulfuric acid was 256.67, up 1.32% compared to March 1 (253.33); For upstream methanol, on February 24th and March 27th, the reference price of methanol was 2581.67, a decrease of 5.63% compared to March 1st (2735.83).

According to the formic acid analysts of the Business Society, the current cost side support is acceptable, the supply side support still exists, and the demand side is stable. It is expected that in the short term, the domestic industrial grade 85% formic acid market may mainly operate at a high level, and more attention needs to be paid to market news guidance.

According to the data from the Commodity List of the Business News Agency, the market price of formaldehyde in Shandong fell sharply in March. At the beginning of the month, the average price of formaldehyde in Shandong was 1283.33 yuan/ton, while at the end of the month, the average price of formaldehyde in Shandong was 1223.33 yuan/ton, down 4.68%. The current price has fallen 16.07% year-on-year.

formaldehyde

In March, the market price of formaldehyde in Shandong Province fluctuated and fell. As can be seen from the above figure, formaldehyde has mainly fluctuated slightly in the past three months, with three weeks of decline this month. As of March 27, the mainstream market price in Shandong was 1160-1280 yuan/ton. In March, formaldehyde manufacturers started normal operations, but demand from downstream plate factories was weak, formaldehyde shipments were poor, inventories continued to be high, and the formaldehyde market gradually declined.

Upstream methanol situation: In March, the domestic methanol market fluctuated slightly, and the overall coal market was temporarily stable in terms of cost. As the “peak season winter” draws to a close, the inventory of terminal power plants is steadily cashing in under the long-term agreement, and the power plants maintain the procurement of coal in the just needed market. The cost of methanol is mixed. Demand side, downstream acetic acid: Sinopec Great Wall expected maintenance, acetic acid demand may decrease; Downstream dimethyl ether: Yima Kaixiang plans to stop for 20 days on March 26, with demand for dimethyl ether decreasing; Downstream chloride: Shandong Dongyue is expected to stop for maintenance, and Luxi Chemical is expected to have a reduced load, resulting in a decrease in chloride demand. The methanol demand side is temporarily negative.

The recent narrow decline in the domestic methanol market is mainly due to poor cost support. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the recent weak decline in the price of formaldehyde in Shandong will be the main trend.

Domestic sodium pyrosulfite price trend chart

According to the monitoring of the Business News Agency, the domestic sodium metabisulfite price remained stable and advanced overall this week. The average weekly price of industrial grade sodium metabisulfite was 2416.67 yuan/ton, and the average weekend price was 2416.67 yuan/ton, which remained stable overall.

In late March, the overall price of upstream raw materials fluctuated and moved forward. Supported by the stabilization of raw material costs, the domestic sodium metabisulfite market price overall remained stable and advanced this week, with industrial grade sodium metabisulfite overall located in the range of 2400-2500 yuan/ton. Enterprises mainly complete orders from regular customers. (The above prices refer to external quotations from mainstream domestic enterprises, and some enterprises that have not yet been quoted are temporarily excluded from their scope. The prices are for reference only and have nothing to do with the manufacturer’s final pricing. For details, please contact each manufacturer for consultation.).

As of March 24th, the domestic soda ash price rose slightly and fell slightly during the month, with an overall decrease of 0.36%. The sulfur price generally remained at a relatively low level and fluctuated, with an increase of 3.85% during the month. The overall rise in upstream raw material costs fell slightly, and the stabilizing cost trend will form a certain suppression on the upward space of the sodium metabisulfite market price in the future.

Aftermarket Forecast

Analysts from the Business News Agency believe that the volatility of raw material costs is stabilizing, and the overall domestic sodium metabisulfite market price will remain stable in the short term.

1、 Price trend

According to commodity data monitoring, the isopropanol market fell in a volatile manner this week. Last Thursday, the average price of isopropyl alcohol in China was 6880 yuan/ton, while this Thursday’s average price was 6760 yuan/ton. The price was reduced by 1.74% during the week.

2、 Market analysis

The market for isopropanol fell this week. At present, the market is generally stable, with weak market demand, coupled with a decline in upstream acetone prices, and weak cost support. Traders and downstream manufacturers are cautious in updating their buying sentiment, focusing on wait-and-see, purchasing as needed, and taking what they need. Up to now, most quotations for isopropanol in the Shandong region are around 6500-6900 yuan/ton; Most quotations for isopropanol in the Jiangsu and Zhejiang regions are around 6800-7000 yuan/ton.

Regarding raw material acetone, the acetone market fell this week. Last Thursday, the average price of acetone in Shandong was 6230 yuan/ton, while this Thursday’s average price was 6070 yuan/ton. During the week, the price was reduced by 2.57%. Currently, the continued downturn in the market is mainly due to poor procurement by downstream terminal factories and the scarcity of actual orders. Currently, the source of imported goods is limited and the supply is not loose, but the demand is difficult to improve. The pressure on traders to ship goods is high, and the quotation has declined in a narrow range. In addition, Sinopec has intensively lowered its price. The market’s confidence in the future market is significantly insufficient, and market transactions are mostly followed up by small orders.

In terms of propylene, the propylene market fell this week. Last Thursday, the average price of propylene in Shandong was 7386.6 yuan/ton, while this Friday’s average price was 7042.6 yuan/ton. During the week, the price was reduced by 4.66%. Currently, propylene inventory is under pressure, and the overall market atmosphere is poor. Downstream customers are more wait-and-see, cautious in buying, and just in need of procurement.

3、 Aftermarket Forecast

An isopropanol analyst from the Chemical Branch of the Business Society believes that the price of raw acetone has decreased, while the price of propylene has decreased. Support for raw materials is weak, market conditions are poor, downstream demand is weak, and buying remains cautious. It is expected that the isopropanol market will be weak and consolidated in the short term.

According to the monitoring data of the Business News Agency, as of March 17, 2023, the reference price of n-butanol in Shandong Province was 7366 yuan/ton. Compared to March 12 (the reference price of n-butanol was 7166 yuan/ton), the price increased by 200 yuan/ton, or 2.79%.

As can be seen from the data monitoring chart of the Business Agency, this week (3.13-3.17), the domestic butanol market in Shandong Province as a whole showed an upward trend. This week’s rise in the n-butanol market was mostly due to the phased fluctuations in the demand side. Downstream demand for n-butanol was positive, with a good trading atmosphere on the floor and improved new orders. Supported by demand, the overall domestic n-butanol market rose steadily, with an increase of around 100-200 yuan/ton during the week. The overall change in the construction of n-butanol supply side this week was not significant, and the supply side provided general market support. As of March 17, the market price of n-butanol in Shandong Province in China is around 7200-7400 yuan/ton.

Aftermarket analysis of n-butanol

At present, the n-butanol field operators have a good mentality, and the overall improvement of n-butanol shipments provides support for market confidence. The n-butanol statistician of the Business Agency believes that in the short term, the domestic n-butanol market in Shandong Province is expected to be strong and mainly subject to adjustment and operation, and the specific trend needs to pay more attention to specific news changes on the supply and demand side.

Orthoxylene prices fluctuated and rose this week

According to the price trend chart of ortho xylene of the business agency, as of March 20, the price of ortho xylene was 8500 yuan/ton, up 2.41% from 8300 yuan/ton on March 1. The ortho xylene industry chain is in a stalemate, and the domestic ortho xylene market has fluctuated and risen this week.

The market of raw material mixed with xylene fluctuated and fell this week

As can be seen from the price trend chart of mixed xylene of the business agency, as of March 20, the price of mixed xylene was 7370 yuan/ton, a decrease of 2.51% compared to the price of 7560 yuan/ton of mixed xylene on March 10; The price of mixed xylene decreased by 1.07% compared to 7450 yuan/ton on March 1. In March, the price of mixed xylene rose first and then fell. This week, the price of mixed xylene fell, and the upward momentum of orthoxylene weakened. The downward pressure increased.

Downstream phthalic anhydride market stopped rising and fell this week

As can be seen from the price trend chart of phthalic anhydride of the business community, as of March 20, the quotation for phthalic anhydride of ortho phthalic anhydride was 8700 yuan/ton, an increase of 1.90% compared to the price of phthalic anhydride of ortho phthalic anhydride of 8537.50 yuan/ton on March 10; Compared to the price of 8450 yuan/ton on March 1, the increase was 2.96%. This week, the price of ortho phthalic anhydride stopped rising and fell back, while the market for phthalic anhydride remained stagnant and stabilized, while support for the rise of ortho xylene remained.

Future prospects

Analysts from the business news agency Orthoxylene Data believe that this week, the market in the upstream and downstream of the Orthoxylene industry chain stopped rising and remained stagnant. The price of mixed xylene fluctuated and fell, while the price of phthalic anhydride stopped rising and fell. The support for Orthoxylene growth weakened and the downward pressure increased. In the future, the demand support for the decline in the cost of orthoxylene remains, and it is expected that the price of orthoxylene will stabilize in the future.

Trade name: isobutyraldehyde

Latest price (March 20th): 7433.33 yuan/ton

On March 20th, the domestic isobutyraldehyde market price rose slightly, up 100 yuan/ton or 1.36% compared to March 17th, and down 33.83% year-on-year compared to the same period last year. The price of raw material propylene rose slightly, increasing cost support. The market price of neopentyl glycol in the downstream market declined slightly, and downstream customers showed moderate enthusiasm for isobutyraldehyde procurement.

In the future, it is expected that the market price of isobutyraldehyde in China may fluctuate slightly and rise, mainly through consolidation. The average market price is around 7500 yuan/ton.

According to data monitoring by Business News Agency, as of March 17, 2023, the reference average price of 30% grade phosphorus ore in China was around 1092 yuan/ton; Compared to March 12th, prices remained basically stable; Compared to March 1st (the reference price of phosphate rock was 1074 yuan/ton), the price was increased by 18 yuan/ton, or 1.68%; Compared to December 8th (the reference price of phosphate rock was 1056 yuan/ton), the price was increased by 36 yuan/ton, or 3.41%.

As can be seen from the data monitoring chart of the Business Agency, in early March, supported by the gradual improvement of the downstream demand side, the domestic medium and high-end grade phosphorus ore market as a whole ushered in an upward movement. Entering this week (3.13-3.17), the overall domestic phosphorus ore market remained stable at a high level. The overall supply side of the phosphate rock field remains tight, and the supply side continues to support high market quotations. With the arrival of the spring plowing season, the downstream demand of the terminal continues to increase, and the downstream demand side of the phosphate rock performs steadily. As of March 17, the domestic market price of 30% grade phosphorus ore is referenced around 1050-1150 yuan/ton, and the price of 28% grade phosphorus ore is referenced around 960-990 yuan/ton. The reference price of 32% grade phosphorus ore is around 1180-1250 yuan/ton. There is also a gap between the specific price and factors such as the raw ore specification and the powder to lump ratio, and the specific price needs to be negotiated on a real basis.

Prediction and analysis of future market trend of phosphate rock

At present, the trading atmosphere in the phosphate rock field is good, the supply and demand transmission is smooth, and the overall market support is good. The phosphorus ore data analyst of the Business Agency believes that in the short term, the domestic phosphorus ore market will mostly continue to operate at a high and strong level, and the specific trend needs to pay more attention to the changes in information on the supply and demand side.