According to the commodity market analysis system of Business Society, the price of styrene in Shandong was 9683.33 yuan/ton on June 1st, and 9413.33 yuan/ton on June 27th, a decrease of 2.79% within the month. The current price has increased by 28.95% year-on-year.

styrene

In June, the market price of styrene first fell and then rose. From the above chart, it can be seen that the price of styrene has been mainly fluctuating in the past three months, with a greater decline than an increase in the market this month. The reason for the decline is the fluctuation of international oil prices and poor cost support, while the styrene market has risen to a relatively high level. Spot demand is mainly in demand, and downstream demand is slightly resistant to high prices, resulting in a slight decline in the styrene market.

Cost side

In June, pure benzene continued to rise overall, with prices reaching high levels. At present, the inventory of pure benzene in the port has dropped to around 20000 tons, which is at a low level in the same period of five years, and spot trading is active. Most refineries in Shandong continue to raise their prices. After the price increase, market buying continued and transactions were better. As of June 27th, the mainstream spot price of pure benzene in the Shandong market was 9364.67 yuan/ton, an increase of 2.62% compared to 9125.50 at the beginning of the month. The high price of pure benzene has compressed the profit margin of styrene.

Supply side

In June, there were many inspections of the styrene unit. On the 12th, the 600000 ton/year styrene unit of Zhejiang Petrochemical was shut down for two weeks for maintenance. On the 14th, the 80000 ton/year styrene unit of Huaxing Petrochemical was shut down for maintenance, and the restart time is uncertain. The 500000 ton/year styrene plant of Gulf Chemical is scheduled to be shut down for maintenance for 45 days in July. Under the current profit situation, the enthusiasm of production enterprises to start production is limited, and it is expected that there will be little supply pressure in July, with a decrease in production expected.

Demand side

In June, the three major downstream markets of styrene saw one rise and two falls. EPS rose, downstream demand in the north recovered well, demand for home appliance packaging increased, inventory rapidly decreased, and the market slightly rose. Domestic ABS prices are weak. From a fundamental perspective, the center of gravity of the upstream three materials of ABS is falling, which weakens the cost support for ABS. ABS currently has high inventory levels. The demand side has weak demand, and the manufacturer’s shipment situation is poor. In summary, it is expected that the ABS market may experience a weak downward trend in the short term. The overall production of PS has decreased compared to the previous month, but it is still at a high level. Inventory is showing a slight growth trend, and the PS market transactions are weak. Merchants are offering discounts to sell, and it is expected that the short-term PS price may fluctuate weakly.

According to the styrene data analyst from Business Society, the current cost side pure benzene inventory is low, prices are strong, and non integrated styrene factories are in a loss making state. The unit load is decreasing, and there is an expectation of a decrease in styrene supply. Downstream multi-dimensional purchases are in demand, and Business Society analysts expect a slight increase in the styrene market.

Last week (June 17-23), the market supply of caprolactam, a raw material for nylon filament, was loose, and prices fell; The nylon filament market is following the downward trend of raw materials, with industry operating rates maintaining and little change in on-site supply. The inventory levels of various manufacturers are average, and inventory pressure is not high. Demand is weak and downward. Overall, the cost and demand are both positive and negative, resulting in a narrow decline in the nylon filament market.

Narrow decline in market prices

According to the Commodity Market Analysis System of Business Society, last week (June 17-23), the price center of nylon filament saw a narrow downward trend. As of June 23, 2024, the price of DTY nylon filament (premium product; 70D/24F) in Jiangsu region was quoted at 19280 yuan/ton, a decrease of 20 yuan/ton from the beginning of the week, with a weekly decrease of 0.10%; Nylon POY (premium product; 86D/24F) is priced at 16925 yuan/ton, a decrease of 50 yuan/ton from the beginning of the week, with a weekly decrease of 0.29%; The price of nylon FDY (premium product: 40D/12F) is reported at 20225 yuan/ton, a decrease of 50 yuan/ton from the beginning of the week, with a weekly decrease of 0.25%.

Weakness sorting of raw materials

Last week (June 17-23), the market supply of caprolactam, a raw material for nylon filament, was loose, and prices fell, providing limited support for nylon filament. The upstream pure benzene has slipped, and the downstream operating rate is average, resulting in weak demand for raw materials and weak terminal demand. The maintenance of the caprolactam plant in the enterprise is gradually completed, and the market supply is loose. PA6 slicing is currently experiencing limited cost support due to stable raw material prices, and downstream on-demand procurement has created a strong trading atmosphere in the market. It is expected that the PA6 slicing market will experience weak consolidation in the near future.

Supply and demand

Last week (June 17-23), nylon manufacturers maintained a stable operating load, with sufficient supply of goods and little inventory pressure. Last week, downstream demand was weak, and downstream manufacturers held on to purchasing according to demand, resulting in a downward trend in demand for nylon spinning.

Future Market Forecast

With a slight decline and consolidation in the spot market for raw materials such as caprolactam and PA6, but limited cost support, on-site supply remains normal, and downstream demand shows a weak trend. Analysts from Business Society predict that the short-term nylon filament market will mainly follow the weak trend of raw material consolidation, and prices will mainly decline and consolidate.

This week, the price of phthalic anhydride has stopped falling and stabilized

According to the Commodity Market Analysis System of Shengyishe, the domestic market price trend of ortho phthalic anhydride has stabilized this week. As of June 24th, the quoted price of ortho phthalic anhydride was 8050 yuan/ton, a decrease of 0.31% compared to the price of 8075 yuan/ton on June 17th; Compared to June 14th, the price of phthalic anhydride decreased by 0.31% to 8075 yuan/ton. The domestic price for ortho phthalic anhydride is 7800-8000 yuan/ton for factory delivery, while the domestic price for ortho phthalic anhydride is 7300-7500 yuan/ton for factory delivery.

Supply side: Tight supply of goods

The operation of domestic phthalic anhydride units is temporarily stable, while the operation of Anhui Tongling ortho phthalic anhydride equipment is normal. The 100000 ton phthalic anhydride unit of Xinyang Group is operating stably, and the phthalic anhydride equipment of Shandong Hongxin is undergoing maintenance. The operating rate of domestic phthalic anhydride is around 60%, and the spot supply of phthalic anhydride is stable. The sales situation of phthalic anhydride manufacturers is average. This week, the price of industrial naphthalene first fell and then stabilized, while the naphthalene phthalic anhydride market was weak and stable. The ortho phthalic anhydride market is stabilizing, and the ortho phthalic anhydride market is falling and then stabilizing. This week, the market for phthalic anhydride has stopped falling and stabilized.

On the demand side: The trend of on-demand procurement in the DOP market is fluctuating and declining

According to the Commodity Market Analysis System of Shengyishe, as of June 24th, the price of plasticizer DOP was 10075 yuan/ton, a fluctuation decrease of 1.35% compared to the DOP price of 10212.50 yuan/ton on June 17th; Compared to June 14th, the DOP price of 10250 yuan/ton decreased by 1.71%. The market for plasticizer DOP raw material phthalic anhydride has stabilized, while the price of isooctanol has fluctuated and fallen. The cost of plasticizer DOP has decreased, and the production of plasticizer DOP enterprises is stable. The supply of plasticizer DOP is sufficient. Downstream construction is expected to rise, and demand is stabilizing. The support for the rise of plasticizers still exists.

Future Market Forecast

According to the data analyst of Shengyishe’s phthalic anhydride products, in the future, in terms of cost, the recent trend of crude oil prices has fluctuated and risen, while the high price of ortho xylene has temporarily stabilized, and the cost support for phthalic anhydride still exists; The downstream DOP market is fluctuating and falling, and the demand for plasticizers is temporarily stable. Downstream procurement enthusiasm is average, and it is expected that the market price of ortho phthalic anhydride will mainly fluctuate and consolidate in the later stage.

According to the commodity market analysis system of Business Society, as of June 20, 2024, the reference price of n-butanol in Shandong Province, China was 9166 yuan/ton. Compared with June 14 (reference price of n-butanol was 9000 yuan/ton), the price increased by 166 yuan/ton, an increase of 1.85%; Compared with June 1st (reference price of n-butanol at 8366 yuan/ton), the price has increased by 800 yuan/ton, an increase of 9.56%.

From the commodity market analysis system of the Business Society, it can be seen that in early June, with the comprehensive support of supply and demand, the domestic market for n-butanol in Shandong Province saw a broad increase. On June 10th, the market price of n-butanol in Shandong Province was around 9150-9250 yuan/ton, with a ten day increase of 9.96%.

By mid month, some units of n-butanol have resumed operation, and downstream demand has slightly weakened. The high price of n-butanol has slightly declined. On June 14th, the market price of n-butanol in Shandong region fell back to around 9000 yuan/ton.

Entering this week (6.15-6.20), the overall market for n-butanol in Shandong, China, is once again experiencing a strong performance. The spot supply side of n-butanol is tight, and downstream demand has increased. Supply and demand have once again provided market support, and the focus of the n-butanol market is constantly approaching high levels. As of June 20th, the domestic market price for n-butanol in Shandong is around 9100-9300 yuan/ton.

Future analysis

At present, the trading atmosphere on the n-butanol market is mild, and the n-butanol industry has a good mentality. The n-butanol data analyst from Business Society believes that in the short term, the domestic n-butanol market will mainly operate steadily and positively, and the specific trend still needs to pay more attention to changes in supply and demand news.

The price of phthalic anhydride fluctuated and fell this week

According to the Commodity Market Analysis System of Business Society, the domestic market price trend of ortho phthalic anhydride has declined this week. As of June 18th, the quoted price of ortho phthalic anhydride was 8062.50 yuan/ton, a decrease of 0.15% compared to the price of 8075 yuan/ton on June 17th; The price of phthalic anhydride decreased by 0.92% compared to 8137.5 yuan/ton on June 11th; Compared to the beginning of the month, the price of 8187.5 yuan/ton has decreased by 1.53%. The domestic quotation for ortho phthalic anhydride is 7800-8100 yuan/ton for factory delivery, while the domestic quotation for ortho phthalic anhydride is 7300-7600 yuan/ton for factory delivery.

Supply side: Tight supply of goods

The operation of domestic phthalic anhydride plants is temporarily stable, with a domestic phthalic anhydride operating rate of around 60%. The spot supply of phthalic anhydride is normal, and the sales situation of phthalic anhydride manufacturers is average. This week, the price of industrial naphthalene has dropped, the market for naphthalene based phthalic anhydride has declined, and the price of ortho phthalic anhydride has dropped.

On the demand side, the trend of on-demand procurement in the DOP market is declining

According to the Commodity Market Analysis System of Shengyishe, as of June 18th, the price of plasticizer DOP was 10150 yuan/ton, a fluctuating decrease of 2.05% compared to the DOP price of 10362.50 yuan/ton on June 11th. The market for plasticizer raw material phthalic anhydride has declined, the price of isooctanol has fluctuated and fallen, the cost of plasticizers has decreased, plasticizer DOP enterprises have started production steadily, and the supply of plasticizer DOP is sufficient. Downstream construction is expected to rise, while demand is expected to rebound. The support for the rise of plasticizers still exists.

Future Market Forecast

According to the data analyst of Shengyishe’s phthalic anhydride products, in the future, in terms of cost, the recent trend of crude oil prices has fluctuated and risen, while the high price of ortho xylene has temporarily stabilized, and the cost support for phthalic anhydride still exists; The downstream DOP market is fluctuating and falling, with a decrease in demand for plasticizers. Downstream procurement enthusiasm is average, and it is expected that the market price of ortho phthalic anhydride will mainly fluctuate and consolidate in the later stage.

1、 Price trend

According to the commodity market analysis system of Business Society, the price of pure benzene has slightly increased this week. On June 10th, the price of pure benzene was 9292 yuan/ton, and on Friday (June 14th), the price of pure benzene was 9439 yuan/ton, an increase of 1.58% from last week and 52.24% from the same period last year.

2、 Analysis and Review

This week, the price of Sinopec pure benzene was 9450 yuan/ton (prices in Shandong and Hebei regions increased by 150 yuan/ton simultaneously)

Downstream aspect

3、 Future Market Forecast

The night market saw an increase in selling, and early morning East China pure benzene is expected to open lower and decline.

4、 Data calendar

Crude oil: The year-on-year growth rate of US CPI is lower than expected, inflationary pressure has eased, expectations of the Federal Reserve’s interest rate cut in September have increased, and international oil prices have risen. The NYMEX crude oil futures 07 contract increased by $0.12 per barrel or 0.15% at 78.62%; ICE oil futures contract 08 rose $0.15 per barrel, or 0.18%, at 82.75. The main contract of China INE crude oil futures, 2407, rose 4.9 to 606 yuan/barrel, and rose 2.2 to 608.2 yuan/barrel in overnight trading.

Core logic: Yesterday, profit taking in East China resulted in active selling and insufficient follow-up by buyers. Shandong’s refining shipments have been hindered, resulting in a decrease in transaction volume.

Last week (June 3-9), the focus of the adhesive short fiber market was relatively warm, and manufacturers introduced a new round of prices, resulting in a slight increase in prices. Some large factories have seen an increase of 100-150 yuan/ton, and some are reluctant to sell at low prices due to restrictions on signing orders. Overall, the number of orders signed this week is relatively good, and after the end, they will once again enter the stage of manufacturers executing orders and shipping. The quotation for the mid to high end market is around 13200-13400 yuan/ton, and the negotiated price is around 13000-13300 yuan/ton. The trend of raw material dissolution slurry is strong and stable, with cost support still remaining. The maintenance of the adhesive short fiber device is still ongoing, and there is currently no significant pressure on the overall inventory of manufacturers. Some enterprises are experiencing tight shipments, and the supply of adhesive short fiber industry is still tight.

According to the commodity market analysis system of Shengyishe, the price of viscose staple fiber slightly increased last week (June 3-9). As of June 9th, the domestic factory quotation for 1.2D * 38mm adhesive short fiber is 13240 yuan/ton, an increase of 20 yuan/ton from the beginning of the week’s price of 13220 yuan/ton, with a weekly increase of 0.15%.

In terms of supply: Last week (June 3-9), the operating rate of the adhesive short fiber industry declined, and some manufacturers are still undergoing equipment maintenance. The overall market supply has slightly decreased. The inventory of various manufacturers is still at a low level, and some factories have tight shipments. There is currently no inventory pressure, and there is some positive support on the supply side.

In terms of cost: The market price of raw material dissolution slurry is strong and stable, providing support for the market. The market prices of auxiliary material liquid alkali and sulfuric acid are stable, and the cost center remains stable. Last week (June 3-9), the domestic price for dissolved pulp was around 7700-7800 yuan/ton. The price of imported broadleaf dissolved pulp is around 940 US dollars per ton, and the price of needle leaf dissolved pulp is around 1000-1030 US dollars per ton.

In terms of demand: Last week (June 3-9), downstream people mainly executed orders in the cotton yarn market, with little price change. There is not a high willingness for inventory of raw material viscose short fibers, and there is no obvious improvement in demand. Downstream yarn factories mainly consume inventory, and the release of new orders on site is limited.

Downstream cotton yarn market

Last week (June 3-9), downstream cotton yarn was weakly consolidated, with the market mainly executing orders, overall prices weak and stable, overall shipments average, inventory basically maintained, and demand side performance was weak. Downstream demand has not improved significantly, and actual transactions on the market are limited. As of June 9th, the average ex factory price of human cotton yarn (30S, ring spun, first grade) was 17225 yuan/ton, which is the same as the price at the beginning of the week.

Future Market Forecast

The upstream raw material market prices are strong and stable, with low inventory from various manufacturers and tight shipments from some factories, which provides support for the market. Downstream enterprises have average purchasing power, and the industry is currently entering a low season. Downstream cotton yarn may not have a good recovery, and the overall market sales speed is weak or continues to be stable. It is expected that the short-term market for viscose staple fibers will have a high probability of stabilizing prices, and the market will remain stable. The market for human cotton yarn will mainly operate weakly and steadily, and the price of viscose staple fibers is expected to be in the range of 13100 to 13300 yuan/ton.

1、 Price trend

Taking the sulfuric acid method rutile type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market has been downward this week. The average price of titanium dioxide on Monday was 16366.67 yuan/ton yuan/ton, and on Friday it was 16116.67 yuan/ton, with a price reduction of 1.53%.

2、 Market analysis

This week, the domestic titanium dioxide market is weak and downward. Overall, the international export situation is still good, while the domestic terminal market is weak, and there is a strong wait-and-see sentiment on the market. Especially with the reduction of factory prices by Longqi, market confidence is even more lacking. Overall, the market’s order acceptance situation is still weak, and procurement is cautious, with a focus on just in need purchases. As of now, most domestic sulfuric acid based rutile titanium dioxide quotations range from 15400 to 16900 yuan/ton; The quotation for rutile titanium dioxide is around 14500-15300 yuan/ton. The actual transaction price is negotiable.

In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region continues to decline. Downstream titanium dioxide enterprises have a weak market situation, with poor market demand. There is a strong wait-and-see sentiment in the trading of titanium concentrate, and market procurement is cautious. As of now, the tax-free quotation for 38-42 grade titanium ore is around 1520-1550 yuan/ton, the tax-free quotation for 46 grade 10 titanium concentrate is around 2200-2260 yuan/ton, and the quotation for 47 grade 20 titanium concentrate is around 2500-2630 yuan/ton. In the short term, the price of Panxi titanium concentrate may continue to operate weakly and steadily, and the specific actual transaction price will be negotiated separately.

In terms of sulfuric acid, the domestic sulfuric acid market price has remained stable this week. According to data monitoring from Business Society, the average price of sulfuric acid is 247.5 yuan/ton. The downstream demand for sulfuric acid is weak, and the market situation is light. The actual transaction price is mainly negotiated.

3、 Future Market Forecast

Business Society Titanium Dioxide Analyst believes that currently, the price of titanium concentrate in Panxi region has fallen, sulfuric acid prices are temporarily stable, raw material support is weak, and downstream market demand continues to be weak. It is expected that in the short term, the focus of the titanium dioxide market will be downward, and the actual transaction price will remain unchanged.

In May, the domestic polycrystalline silicon market continued to decline, with an exacerbation of the decline. The bargaining power of major manufacturers has decreased, resulting in a significant reduction in prices. According to the Commodity Market Analysis System of Business Society, the monthly decline of single crystal dense materials is 16.67%. The main reason is the oversupply of silicon materials and the weak follow-up of downstream demand for photovoltaics. At present, the mainstream range of single crystal dense materials with a model of first-class solar energy has slipped to 31000 to 36000 yuan/ton.

On the supply side, the operating rate of polycrystalline silicon remained relatively high in May, at around 80% or more. All the equipment in the large factory has started operating, and the supply is showing some pressure. Due to the high inventory of enterprises and the weakened bargaining power of large factories, there has been an irrational decline in silicon materials. On the one hand, the stable production of mainstream large factories, coupled with the addition of new production capacity, has brought incremental growth to the market, and the problem of oversupply performance is becoming increasingly prominent. However, due to the lower operating rate of downstream silicon wafers and the increasing inventory pressure on silicon wafer manufacturers, the performance of silicon material shipments has become increasingly difficult. Silicon material manufacturers have continued to accumulate inventory this month. Until the last week of May, silicon material prices slightly stabilized. The main reason is that most silicon material companies have equipment maintenance, resulting in a slight contraction in production at the end of the month and a relief in supply pressure. But inventory levels are still at a high level.

From the demand side, the downstream demand for photovoltaics in the market was weak in May, with a slight looseness in the production of silicon wafers. This was mainly due to the rising inventory level of silicon wafers. The main reason was the decrease in downstream battery cell procurement, and battery cell manufacturers generally maintained low production to cope with the downturn in terminal installation procurement. It was difficult to digest more silicon wafer inventory, resulting in greater pressure on silicon wafer manufacturers to ship. Therefore, the price of silicon wafers has dropped significantly this month. Generally exceeding 10%. As of the end of May 31st, the mainstream transaction price of single crystal M10 silicon wafers has fallen by 0.4 yuan, with a transaction price of approximately 1.20 yuan per wafer; The mainstream transaction price of G12 has dropped by 0.30 yuan, and is currently reported at 1.80 yuan per piece.

Market forecast: Polycrystalline silicon analysts from Business Society believe that the photovoltaic industry chain is experiencing upstream surplus, causing profit compression. Upstream silicon materials and silicon wafer companies are both in a high inventory stage. Currently, silicon material prices have fallen to the bottom, and the market has shown signs of temporary cessation of decline. However, considering supply expectations and high inventory levels, there is no momentum for prices to rebound in the near future, and it is expected that the bottom will mainly fluctuate.

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average market price of tetrachloroethylene on May 31st was 5025 yuan/ton, and on May 1st, the average market price of tetrachloroethylene was 5050 yuan/ton. The average high point price during the month was 5212 yuan/ton, and the average low point price during the month was 5012 yuan/ton. In May, the market price of tetrachloroethylene decreased by 0.5%.

2、 Analysis and Review

In early May, the price of tetrachloroethylene slightly decreased. According to customs data, the import volume of tetrachloroethylene in April was about 25 times that of last year. The import volume of tetrachloroethylene in the first four months of this year was 16338.322 tons, an increase of about 119% compared to last year, and the export volume was 5870.04 tons, a decrease of about 8.75%. Downstream enterprises actively purchased from abroad, and domestic market demand weakened. Enterprises have started construction at a high level, with stable supply. The market for tetrachloroethylene has slightly increased in the middle of the month, and some enterprises have undergone equipment maintenance, resulting in a weakening of market supply. At the end of the month, the demand side showed weak performance, downstream market weakened, equipment maintenance and procurement declined, leading to a decline in the tetrachloroethylene market.

In early May, the downstream refrigerant R125 market continued to operate steadily at a high level. With the arrival of summer, the demand for downstream industries such as air conditioning, commercial refrigeration, and chillers increased, and the optimistic atmosphere in the industry continued. Driven by the “trade in” campaign in various regions on May Day, retail enterprises such as automobiles and household appliances saw year-on-year growth of 4.8% and 7.9%, respectively. Provide incremental demand space for refrigerants. In mid May, the R125 market fell, with prices ranging from 40000 to 40500 yuan/ton, a decrease of about 4000 yuan/ton from the beginning of the month. It is understood that the quota for R125 in the first four months of this year has been over utilized overall. Recently, shipping costs have increased, cabin shortages have occurred, and exports may be delayed. Domestic market demand is limited, and market prices have fallen slightly, still operating at a relatively high level.

3、 Future Market Forecast

Business Society’s tetrachloroethylene analyst believes that the downstream refrigerant market has fallen but remains relatively high and strong, and it is expected that the price of tetrachloroethylene will remain stable in the short term.