Price trend

According to the Commodity Market Analysis System of Shengyishe, as of March 20th, the average market price of phenylenediamine was 37166.67 yuan/ton, which remained unchanged from last week.

In terms of cost

Pure benzene: The price of pure benzene in China has slightly increased this week. On March 20th, the price of pure benzene was 8573.17 yuan/ton, an increase of 0.96% from last week and 17.77% from the same period last year. Negotiations in the East China market have declined, with few spot transactions. On the market, there were mixed ups and downs, and downstream inventory was sufficient, creating a wait-and-see atmosphere.

Nitric acid: The domestic price of nitric acid has slightly decreased this week. On March 20th, the price of nitric acid was 1790 yuan/ton, and on March 13th, it was 1833 yuan/ton, a decrease of 2.32% from last week and 26.78% from the same period last year. At present, the market continues to be weak, and manufacturers are shipping according to the market.

Downstream aspect

This week, resorcinol has been running smoothly and there has been no improvement in demand. The downstream market for dyes and pharmaceutical intermediates is slightly calm.

Overall, some domestic meta phenylenediamine units have been shut down for renovation, resulting in tight market supply and weak demand for downstream dyes, pesticide intermediates, and other products. Expected stable consolidation of meta phenylenediamine.

1、 Price trend

According to the analysis system of the commodity market of Shengyishe, as of March 19th, the price of high-quality power grade lithium iron phosphate is 43500 yuan/ton. Today, the price of lithium iron phosphate is still stable, with a strong trend. The price has increased by 0.05% compared to the previous day, with an increase of about 20 yuan/ton. Currently, the price has increased by 0.28% compared to the same period last week, and the price has increased by 1.16% compared to the same period last month. Currently, there is still support for the upstream cost side of lithium iron phosphate, with a strong trend in raw material prices, mainly digesting the previous increase. Currently, downstream demand is good, the procurement atmosphere is positive, and the energy storage market is still hot. According to reports, the leading enterprise of lithium iron phosphate, Ningde Times, has made new progress in lithium iron phosphate batteries. In recent days, At the China Electric Vehicle Hundred People Conference Forum, the company’s directors stated that CATL’s first skateboard chassis product based on lithium iron phosphate batteries will be officially put into mass production in the second half of this year, and there is still room for improvement in demand for lithium iron phosphate.

2、 Market analysis

Today, the price of lithium iron phosphate has maintained a stable, medium to strong trend, with a price increase of 0.05% compared to the previous day, around 20 yuan/ton. As of March, the lithium iron phosphate market has been showing a continuous growth trend. As of March 19th, the overall price of lithium iron phosphate in March has increased by 1.16%, with an increase of about 500 yuan/ton. Currently, the upstream cost side has strong support, and downstream demand has increased. Lithium iron phosphate has been improving in the short term. Currently, mica prices remain stable, and enterprises have a strong willingness to support prices. The raw material lithium carbonate quotation has mainly increased, and downstream procurement willingness is relatively strong. Currently, the demand for energy storage type lithium iron phosphate batteries is not decreasing, and with the promotion of policies, the overall market transaction focus has shifted upwards.

In terms of iron phosphate: Currently, iron phosphate enterprises are affected by the downstream lithium iron phosphate market, stimulating their production enthusiasm and strong willingness to raise prices. In March, downstream demand has recovered well, and the operating rate of iron phosphate enterprises has increased. In March 2024, China’s iron phosphate production reached 110000 tons, an increase of 85% month on month and 59% year-on-year, respectively. The increase in downstream demand has driven the expansion of iron phosphate production capacity. Currently, the mainstream price of iron phosphate is between 10000 and 10500 yuan/ton, and it is expected to maintain a stable, medium to strong trend in the short term.

In terms of cost: Currently, the prices of spodumene and lithium carbonate are still showing an upward trend. Upstream raw materials continue to rise, and the trend is strong. Upstream inventory is currently operating tightly, with a decrease in spot supply. The overall negotiation focus is on the upward trend. Lithium iron phosphate has certain support on the cost side, and the pressure on cost manufacturing is increasing. Lithium iron phosphate passively follows the upward trend. Downstream lithium iron phosphate has a strong willingness to purchase, and demand is still good. The replenishment atmosphere has significantly increased, and downstream demand has significantly improved. Currently, the operating rate of lithium iron phosphate is high, and the market supply has increased. Inventory is consumed normally, and there is sufficient spot. The overall market negotiation focus is on a high level.

In terms of demand: Currently, both the power market and energy storage market are in a rapid development stage, with a strong willingness to replenish downstream products and a rapid recovery in terminal demand. Battery companies have limited consumption of finished product inventory, and the procurement of lithium iron phosphate is mainly based on rigid demand. Currently, the potential for new energy power vehicles is enormous, and under the dual effects of policies and markets, China’s new energy vehicle industry is gradually expanding, In 2023, the production and sales of new energy vehicles reached 9.587 million and 9.495 million, respectively, with a year-on-year increase of 35.8% and 37.9%, and a market share of 31.6%. For 9 consecutive years, it has ranked first in the world. Currently, the demand for energy storage batteries is not comparable to that of power batteries. According to data statistics, in 2023, the growth rate of energy storage batteries has surpassed that of power batteries. It is expected that by 2025, in the field of power batteries, with the release of mainstream global automotive companies, lithium iron phosphate batteries will account for 43% of the market share. In the field of energy storage, lithium iron phosphate batteries are expected to occupy 85% of the market share in the future.

In terms of new energy storage, it can be divided into traditional energy storage and new energy storage. New energy storage includes lithium-ion batteries, flow batteries, compressed air energy storage, and flywheel energy storage. Compared with traditional energy storage, new energy storage has the characteristics of short construction period, flexible site selection, strong regulation ability, and fast response. In 2024, the application field of new energy storage batteries will continue to expand, According to statistics, more than 30 enterprises have carried out intensive construction or signing ceremonies related to energy storage, with a planned production capacity of over 150GW. Among them, half of the new energy storage has been opened, and the investment amount is about 60 billion yuan. China’s new energy storage industry is in a rapid and large-scale development stage. In the industry’s view, the energy storage industry, especially new energy storage, is facing greater opportunities and challenges. In 2024, the energy storage industry, Ushering in new development characteristics, new energy storage has been included in the government work report for the first time, and industrial development has entered a fast lane. Many battery companies have begun to compete in new quality productivity characterized by innovation and high-quality development. Recently, many energy storage battery companies such as Yiwei Energy Storage, Desai Battery, and BYD Energy Storage have launched new products to seize the next competitive point. In order to break through the current situation of severe homogenization competition in energy storage cell products, multiple battery companies have been persistently breaking through technological innovation, exploring safer, longer lifespan, and more cost-effective differentiated products, opening up the internal competition of “new quality productivity”, continuously driving enterprise development through technological innovation, and promoting the transformation and upgrading of traditional energy through new quality productivity.

3、 Future Market Forecast

In summary, as of March 19th, the average price of power type lithium iron phosphate trading company is 43500 yuan/ton, and the market price of energy storage type lithium iron phosphate is around 42000-43000 yuan/ton. In the short term, there is still support on the demand and cost sides, and the price still maintains a strong trend in the short term. In 2023, the two major application fields of power and energy storage have grown rapidly, and the proportion of lithium iron phosphate in power and energy storage has greatly increased. Under the promotion of policies, the production of lithium iron phosphate continues to grow. Currently, from the number of energy storage projects, the demand for lithium batteries will further increase. The lithium battery industry is currently showing a good development trend in the new energy vehicle and storage industries. Energy batteries, power batteries, etc., have relatively optimistic future demand, and lithium iron phosphate has sufficient power to rise.

1、 Price trend

According to the Commodity Market Analysis System of Shengyishe, as of March 15th, the average price of transparent grade premium PMMA in China was 16066.67 yuan/ton. This week, PMMA prices have shown a narrow upward trend, with a 2.12% increase compared to the same period last week. Currently, upstream prices have some support on the cost side, while downstream automotive demand is strong and manufacturer inventories are at a low level. Currently, the mainstream price of PMMA is between 16000-17000 yuan/ton.

2、 Market analysis

This week, the price trend of PMMA has risen, with a narrow upward trend being the main trend. The price has increased by 2.12% compared to the same period last week, with an increase of about 300 yuan/ton. Upstream acetone has seen a narrow upward trend, and there is still room for an increase in acetone since March. Downstream demand for power vehicles is good, downstream procurement atmosphere is positive, logistics is smooth, inventory is consumed normally, and terminals are gradually recovering. The overall trend is stable, medium, and strong.

Rubber and Plastics Index: On March 14th, the rubber and plastics index was 686 points, unchanged from yesterday, a decrease of 35.28% from the highest point in the cycle of 1060 points (2012-03-14), and an increase of 29.92% from the lowest point of 528 points on April 6th, 2020. (Note: The cycle refers to 2011-12-01 present).

3、 Future Market Forecast

PMMA analysts from Business Society believe that there is currently some support on the upstream cost side, coupled with good downstream demand, and it is expected that PMMA prices will remain stable, medium to strong in the short term, with prices difficult to fall. The mainstream price will remain around 16000 yuan/ton.

1、 Price trend

According to the statistics of Business Society, as of March 14th, the market price of hexafluoropropylene is around 35700-36750 yuan/ton. Same as at the beginning of this week.

2、 Price influencing factors:

The fluorite market at the end of the raw material market remained stable. Affected by national policies, some of the mining output decreased, the supply weakened, and the market quotation remained high.

Downstream market demand is poor, with a focus on essential procurement.

3、 Future Market Forecast

Business Society’s hexafluoropropylene analyst believes that with high upstream prices supporting and poor downstream demand, the market may maintain stable operation in the short term.

According to monitoring data from Business Society, as of March 13, 2023, the reference price of n-butanol in Shandong Province, China was 8033 yuan/ton. Compared with March 10 (reference price of n-butanol was 7933 yuan/ton), the price increased by 100 yuan/ton, an increase of 1.26%. Compared to March 1st (reference price of n-butanol is 8383 yuan/ton), the price has been reduced by 350 yuan/ton, a decrease of 4.17%.

From the monitoring chart of Business Society data, it can be seen that in early March, the domestic n-butanol market in Shandong continued to decline weakly. After entering this week, the n-butanol market finally broke the downward trend and saw a slight recovery in the market. At the beginning of the week, downstream demand for n-butanol improved overall, and a slight boost in demand provided some support for the n-butanol market. During the mid week period, the n-butanol market was consolidating and operating. As of March 13th, the domestic market price of n-butanol in Shandong region is around 8000-8100 yuan/ton.

Future analysis

At present, the trading atmosphere in the n-butanol market is mild, and the overall supply side of n-butanol is still relatively loose. The overall support from the supply side has shown signs of improvement. After a slight boost in downstream demand, the current focus is mainly on rigid demand procurement. Business Society’s n-butanol data analyst believes that in the short term, the domestic n-butanol market will mainly adjust its operation narrowly, and the specific trend still needs to pay more attention to changes in supply and demand news.

Recent price trends of isooctanol

According to the Commodity Analysis System of Business Society, downstream demand has weakened, and the price of isooctanol in the Shandong region has slightly declined this week. This week, the average price of isooctanol in the mainstream market in Shandong fell from 12350 yuan/ton at the beginning of the week to 12075 yuan/ton at the end of the week, a decrease of 2.23%. Weekend prices increased by 30.04% year-on-year.

Upstream support is good, downstream demand is weakened

From the supply side perspective, the mainstream manufacturers of isooctanol in Shandong have seen a slight decline in their quotations this week, with average inventory levels.

From the upstream raw material market of isooctanol, the propylene market has fluctuated and risen this week, with prices rising from 6865.25 yuan/ton at the beginning of the week to 7054.60 yuan/ton at the end of the week, an increase of 2.79%, and a year-on-year decrease of 5.49% over the weekend. In the early part of the week, due to the shutdown of some upstream devices in the region, supply tightened, prices rose, and downstream buyers entered the market. In the later part of the week, prices rose to a high level, and the atmosphere of downstream entry into the market weakened. In addition, some units released propylene, which eased the tight supply situation and led to a slight decline in propylene prices.

From the downstream market of isooctanol, the DOP market price has slightly declined this week. The DOP price dropped from 11750 yuan/ton at the beginning of the week to 11450 yuan/ton at the weekend, a decrease of 2.55%, and the weekend price increased by 14.50% year-on-year. The operating rate of downstream DOP enterprises is average, and downstream procurement of isooctanol is relatively weak, with a focus on on-demand procurement.

Future prospects

In mid to late March, the market for isooctanol in Shandong may experience a slight fluctuation and decline. The upstream propylene market has slightly increased, with good cost support. But downstream DOP has slightly declined, and downstream demand is weak. Business Society Isooctanol analysts believe that in the short term, the domestic Isooctanol market may experience slight fluctuations and declines due to various factors such as supply and demand and raw materials.

Price trend

According to the Commodity Market Analysis System of Business Society, the BOPP market prices have slowly declined this week. As of March 8th, domestic producers and traders have reached 18 μ The mainstream quoted price of m’s BOPP film is around 9599 yuan/ton, a decrease of about 0.3% from last week’s average price, an increase of about 0.3% from the average price before the Spring Festival, an increase of about 0.3% from the average price at the beginning of the month, and an increase of about 0.3% from the same period in January.

quotations analysis

In terms of raw materials: From the above chart, it can be seen that the price of raw material PP has fluctuated and fallen this month. The mainstream quoted price of domestic manufacturers and traders T30S (wire drawing) is around 7707 yuan/ton, a decrease of about 0.2% compared to last week. Weak support for BOPP prices on the cost side

Supply side: There is still some inventory that has not been consumed before the holiday, and inventory is abundant

In terms of demand: Downstream enterprises have weak demand, weak trading volume, reduced order quantity, and weak market demand for price support

Future Market Forecast

It is expected that BOPP prices will slowly decline.

1、 Price trend

According to the commodity market analysis system of Business Society, the price of bromine has been weak this week. At the beginning of the week, the average market price was 22200 yuan/ton, while on the weekend, the average market price was 21700 yuan/ton, a decrease of 2.25% and a year-on-year decrease of 24.65%. On March 7th, the bromine commodity index was 76.84, unchanged from yesterday, a decrease of 68.66% from the highest point in the cycle of 245.18 points (2021-10-27), and an increase of 30.41% from the lowest point of 58.92 points on October 29th, 2014. (Note: The cycle refers to the period from September 1st, 2011 to present)

2、 Market analysis

This week, the price of bromine is in a weak trend, with mainstream quotes in the Shandong market around 21000-22000 yuan/ton, and market prices are consolidating horizontally. Each bromine manufacturer is now resuming production, and the market situation is average. The actual transactions of enterprises are average. The downstream flame retardant and intermediate industries are still mainly purchasing on demand recently, and the transaction situation is average, with a strong wait-and-see attitude.

In terms of raw materials, domestic sulfur prices have been consolidating this week, with an average market price of 1033.33 yuan/ton at the beginning of the week and 1023.33 yuan/ton over the weekend, a price drop of 0.97% and a year-on-year decrease of 16.35%. This week, the overall price of raw sulfur has stabilized and the market is operating.

It is predicted that the price of bromine will be weak in the near future, while the price of upstream sulfur will be consolidating. The shipment of bromine will be average in the near future, and the downstream flame retardant and intermediate industries of bromine will still mainly purchase according to demand in the near future, with moderate replenishment of inventory. There is no positive support, and it is expected that the price of bromine will be weak in the short term. The specific situation depends on the downstream market demand.

According to the monitoring of the commodity market analysis system of Business Society, the prices of industrial grade lithium carbonate and battery grade lithium carbonate continued to rise this week. On March 7, 2024, the average domestic mixed price of industrial grade lithium carbonate was 102400 yuan/ton, an increase of 6.22% compared to the average price of 96400 yuan/ton on March 1. On March 7th, the average domestic mixed price of battery grade lithium carbonate was 111400 yuan/ton, an increase of 5.69% compared to the average price of 105400 yuan/ton on March 1st.

By observing market changes, it can be seen that the price of lithium carbonate has continued to show an upward trend this week. In terms of supply, the delay in resuming production in Jiangxi region has been implemented due to the impact of the Yichun environmental inspection incident. In addition, Australian mining has reduced production and some domestic lithium salt enterprises are still in the early stages of maintenance and recovery. The available sources of goods for sale are mainly long-term contracts, and there are relatively few scattered orders in the market, leading to expectations of tightening supply. Therefore, the prices of individual lithium salt companies in the market continue to rise overall, and some lithium salt companies still maintain a strategy of selling individual orders at high prices.

In terms of demand, some downstream enterprises such as positive electrodes currently believe that the high price of lithium carbonate in the market is not a true guide to market demand, but rather an expectation of subsequent demand recovery. Therefore, most downstream enterprises such as positive electrodes generally have poor acceptance of high priced lithium carbonate, and only purchase a small amount of low-priced goods in the market or purchase a small amount of high priced goods based on order conditions to maintain a relatively reasonable level of raw material inventory, without a large demand for reserve inventory.

The lithium hydroxide market is showing an upward trend. With the recent rise in lithium carbonate prices and upstream spodumene concentrate prices, the cost support for lithium hydroxide has been boosted. However, market transactions are still mainly based on long-term contract orders, and the mentality of the industry is still acceptable. The price of lithium hydroxide has slightly increased.

The downstream price of lithium iron phosphate is showing an upward trend, while the upstream raw material lithium carbonate price is the main trend. The downstream market mostly replenishes according to demand, mainly supplying contract customers. The lithium battery market has a strong wait-and-see atmosphere and sufficient supply. In addition, the market negotiation atmosphere is still favorable, and the enthusiasm for shipping is high, resulting in a narrow range and a strong trend in prices.

In terms of futures, the prices of lithium carbonate futures have fluctuated this week, with significant short-term market divergence and ongoing supply side disturbances. The market is greatly affected by funds and emotions, resulting in significant fluctuations in futures prices. On March 7, 2024, the opening price of the LC2407 main contract was 115000 yuan/ton, the closing price was 113000 yuan/ton, and the highest price was 116450 yuan/ton, with a daily increase of 0.27%. The transaction volume was 365700 lots and the position was 215643 lots.

According to analysts from Shengyishe Lithium Carbonate, the current quotations from lithium salt companies are still relatively strong, but the market price is still higher than the downstream purchasing psychology, so there is still uncertainty in the subsequent market situation. The weak state of supply and demand in the lithium carbonate market is gradually recovering, leading to temporary wait-and-see behavior among businesses. It is expected that the short-term spot price of lithium carbonate will remain stable.

Last week (2.28-3.6), the market for isooctyl acrylate showed an upward trend, with the overall trading focus slightly shifting upwards. As of March 6th, the benchmark price of ethyl acrylate in Shengyishe was 13875 yuan/ton, an increase of 4.32% compared to last Wednesday (13300 yuan/ton).

This week, isooctyl acrylate is currently in a sustained and stable situation, with relatively limited spot circulation on the market. Manufacturers and traders are reluctant to sell at high prices, and low-priced goods on the market have disappeared. Downstream users are mainly in urgent need and are willing to buy at a lower price. The main reasons for the price increase of isooctyl acrylate in the market this time are as follows:

Production aspect

The octanol plant (with an annual production capacity of 120000 tons) in the northwest region of the raw material butanol was temporarily shut down yesterday evening due to a malfunction. It is expected to recover in the short term, and the factory has no stock for sales.

In terms of cost

The octanol market has slightly decreased, with a local factory reference price of 12050-12100 yuan/ton in the Jiangsu market and a mainstream factory price of 11900 yuan/ton in the Shandong market. Downstream plasticizer companies have also slightly lowered their prices, and some plasticizer companies have stopped production. There is a certain level of demand in the market, and downstream manufacturers have a moderate sentiment towards raw material procurement today, resulting in a weak atmosphere for on-site transactions.

The market price of acrylic acid has been lowered, with the benchmark price of acrylic acid in Shengyishe being 6175.00 yuan/ton, a decrease of -0.80% compared to the beginning of this month (6225.00 yuan/ton). The raw material propylene market has risen, with increased cost support, reduced market supply, and stronger price support sentiment. Factories and cargo holders have pushed up their prices, while downstream users have average enthusiasm for inquiries and are in urgent need of purchasing and replenishing goods.

In terms of supply and demand

At present, the production capacity utilization rate of domestic isooctyl acrylate enterprises is relatively low, the supply is tight, and the shipping pressure of enterprises is average; On the demand side, the inquiry atmosphere of downstream manufacturers has improved, but the actual transaction volume is limited.

Overall

At present, the main factor contributing to the price increase of isooctyl acrylate in the market is the tight supply of spot goods on the market and high prices offered by suppliers. However, in the future, analysts from Business Society predict that with the high price of isooctyl acrylate, the end market entry will be cautious, and downstream manufacturers may have resistance to high priced sources. The price of isooctyl acrylate will remain stable in the short term.