1、 Price trend

In April 2020, the domestic antimony ingot market fell at the end of the month, with the average price of 38125 yuan / ton at the beginning of the month and 37125 yuan / ton at the end of the month, down 2.62%.

On April 30, the antimony commodity index was 51.68, unchanged from yesterday, down 49.49% from 102.32 (2012-10-16), the highest point in the cycle, and up 10.00% from 46.98, the lowest point on December 24, 2015. (Note: cycle refers to 2012-09-08 to now).

2、 Market analysis

Upstream and downstream: the price of antimony trioxide in this month is lower along with the price of antimony ingot. As of the 30th, 99.5% is 33500 yuan / ton, and 99.8% is 35000 yuan / ton.

Domestic market: this month, the antimony ingot Market remained basically stable, and the price was lowered only once in the middle of the month. Due to the influence of foreign conditions, the domestic and foreign market demand remained weak throughout April, and domestic buyers and sellers were still waiting. In terms of price, as of the 30th, the average price of 2 × low bismuth antimony ingots is RMB 35500 / T, 1 × antimony ingots is RMB 36000 / T, 0 × antimony ingots is RMB 37000 / T, and the average price of 2 × high bismuth antimony ingots is RMB 33000 / T.

Industry: according to the price monitoring of the business agency, there are 7 commodities in the price up and down list of bulk commodities in April 2020, including 7 commodities with an increase rate of more than 5%, accounting for 31.8% of the monitored commodities in the sector; the top 3 commodities with an increase rate are aluminum (11.16%), copper (8.73%) and nickel (8.40%). There are 14 commodities with a decline of more than 5% month on month, accounting for 4.5% of the monitored commodities in the sector; the top three products with a decline are silicon metal (- 5.10%), magnesium (- 4.61%) and cobalt (- 4.37%). This month, the average rise and fall was 0.93%.

3、 Future prospects

Overseas situation is still serious, and there is no sign of improvement in export in a short time. It is expected to wait and see in the short term.

1、 Price trend

According to the data in the business club’s large list, pure benzene continued to decline at the beginning of the month, started the way of bottom reading rebound after the Qingming Festival, and returned to the decline in late April. On April 1, the price of pure benzene was 2550-2900 yuan / ton (average price: 2660 yuan / ton). On April 30, the price of pure benzene was 2700-3500 yuan / ton (average price: 3020 yuan / ton), 360 yuan / ton higher than that on April 1, with a monthly increase of 13.53%.

2、 Analysis and comment

1. Crude oil: this month OPEC + Member States reached a joint production reduction agreement to support the oil market. However, crude oil inventory increased rapidly, while storage capacity decreased significantly, and WTI even fell to a negative value for the first time in history this month. Compared with March 31, Brent oil price in April was up $1.995/barrel, up 11.29%; WTI oil price in April was down $2.66/barrel, down 10.85%. Compared with December 31, 2019, Brent oil price decreased by 47.095 USD / barrel, or 79.54%; WTI oil price decreased by 38.92 USD / barrel, or 64.04%.

2. Product: the port inventory of pure benzene continued to accumulate this month, but the increase decreased. After this month’s Qingming Festival holiday, the pure benzene market was affected by crude oil and external market, bottom reading rebounded, and downstream purchasing was positive, with a rebound of more than 30%. The spot supply in Shandong is tight, and the price increase is more obvious. After two weeks of hoarding, the downstream procurement speed slowed down significantly. In the late ten days, crude oil plummeted and pure benzene began to decline.

3. Outside market: April crude oil market slightly recovered, driving the outside market up. South Korea’s imports of pure benzene rose 75 US dollars / ton, or 30.16%; East China’s imports of pure benzene rose 55 US dollars / ton, or 19.23%.

4. Downstream: styrene: on April 1, the price of styrene in Shandong was 4650 yuan / ton, and on April 30, the price was 5100 yuan / ton, with a monthly increase of 9.68%. In the early stage, stimulated by favorable crude oil and supply and demand, styrene prices rose driven by rising sentiment, and the overall trading atmosphere of the market was good. In the later stage, the weak raw material surface and the restart of domestic styrene plant gradually increased, which made the situation of supply exceeding demand hard to change in a short time, and the price declined.

Aniline: on April 1, the price of aniline was 5633.33 yuan / ton, and on April 30, the price was 4800 yuan / ton, with a monthly decrease of 14.79%. Affected by public health events, domestic market and export of aniline were blocked in April, the contradiction between supply and demand expanded, and the price fell. In the middle of the year, the raw material pure benzene rebounded sharply, and the aniline stock kept up with the rising power. The downstream factories entered the market to purchase and stock up, and the aniline enterprise stock pressure was released rapidly. In the last ten days, after more than a week’s stock up, the downstream procurement recovered to be light. In addition, the overhaul of aniline plant was restarted, and the market supply increased, so the price of aniline fell.

3、 Future forecast

1. Crude oil: many parties have jointly promoted the process of production reduction agreement, which has some effect, but in the short term, it can not offset the negative impact of the sharp contraction of demand, and the oil market can not get rid of the situation of excess supply and demand. Short term crude oil prices are expected to remain low.

2. Domestic and foreign markets: the production of downstream pure benzene enterprises in the short term is basically stable, the consumption is mainly in the early stage of hoarding, and the on-site trading atmosphere is light. Mainly wait for the later crude oil and the trend of the outer market.

Market participants are more bearish about the future, and it is expected that the short-term pure benzene market is still weak.

1、 Price trend

According to the data monitored by the business association, on April 1, the price of domestic industrial grade first-class potassium nitrate was 4362.50 yuan / ton, and on April 28, the price of domestic industrial grade first-class potassium nitrate was 4325.00 yuan / ton, a decrease of 0.86%. The current price was 1.98% lower than last year.

2、 Market analysis

Products: in April, the domestic potassium nitrate declined slightly, the domestic potassium chloride production of upstream raw materials was normal, the supply of goods in the Port Free Trade Zone continued to increase, the international price fell, and the overall trend or low consolidation of potassium chloride market was dominated. The potassium nitrate Market is not well supported. Generally speaking, the trading atmosphere of the potassium carbonate market is tepid, the activity is low, the demand side is weak, the actual turnover of the market is insufficient, and the downstream procurement maintains rigid demand. At the same time, the plant operation rate of the manufacturer is low, the overall inventory is low, and the purchasing market momentum is general, and the domestic potassium carbonate market is falling. In April, the main domestic potassium nitrate manufacturers offered 4200-4500 yuan / ton.

3、 Future forecast

According to analysts of potassium nitrate of business association, the price of domestic potash fertilizer market has continued to decline in the near future, but the range is not large, and it is expected that the market situation of potassium nitrate will be low in the short term.

1、 Price trend

According to the data monitoring of the business agency, this week’s zinc market failed to continue its previous strong performance, and the zinc price fell in shock. As of April 24, the spot price of zinc was 16150.00 yuan / ton, down 1.70% from 16430.00 yuan / ton at the beginning of the week. Although the zinc market has been weak this week, the overall trend is still rising.

2、 Market trend analysis

Zinc stock in LME Market

Product inventory increase / decrease time

Zinc 97300-675 April 14

Zinc 99750 2450 April 15

Zinc 99150-600 April 16

Zinc 98300-850 April 17

Zinc 98050-250 April 20

Zinc 97850-200 April 21

Zinc 97600-250 April 22

Zinc 100075 2475 April 23

Zinc 99475-600 April 24

It can be seen from the table that in April, the stock of zinc ingots in LME market increased greatly, the stock of international zinc market increased, the supply of zinc market increased, the price of international zinc market was dragged down and weakened, which was bad for domestic zinc market. Zinc market’s upward momentum weakened, with some downward pressure.

Zinc stock in Shanghai market

Time: inventory increase / decrease of this week

Subtotal futures subtotal futures

4.20-4.24 133349 63556 -13617 -16112

4.13-4.17 146966 79668 -6352 -4315

4.6-4.10 153318 83983 -4821 -2680

3.30-4.3 158139 86663 -1867 -2339

3.23-3.27 160006 89002 -8319 -5008

3.16-3.20 168325 94010 -1586 7125

3.9-3.13 169911 86885 7509 -1202

3.2-3.6 162402 88087 2391 1999

It can be seen from the table that last week, the weekly stock of zinc ingot in Shanghai futures market fell sharply, the futures stock fell sharply, the supply of domestic zinc market declined, and the demand continued to pick up. Generally, the domestic zinc market is more favorable, and the zinc market is gradually picking up.

3、 Future prospects

Bai Jiaxin, an analyst of business club, thinks that the domestic zinc market is generally good this week, and the zinc market continues to slowly recover, but the stock of the international zinc market is greatly increased, and the zinc market is under great downward pressure. The international market dragged down the rebound of the domestic zinc market, and the zinc price was adjusted in shock this week. However, due to the limited global transportation at this stage, the import and export of international zinc ingots are greatly hindered, and the domestic zinc market pays more attention to the supply and demand of domestic zinc ingots. With the slow recovery of domestic zinc market demand, the zinc market still has a certain upward momentum. Zinc price is expected to rise slowly in the future.

1、 Price trend of sodium pyrosulfite in China

According to the monitoring of the business association, the domestic price of sodium pyrosulfite continued to move forward steadily this week. The average price of industrial grade sodium pyrosulfite at the beginning of the week was 1676.67 yuan / ton, and the average price at the end of the week was 1676.67 yuan / ton, up or down 0.

2、 Market analysis

Product: Product: this week, the domestic sodium metabisulfite market performance is average, and the trading body continues to wait and see. The price drop of some downstream products makes the terminal demand of sodium metabisulfite more weak, and the stock of sodium metabisulfite has increased. This week, the market price of industrial sodium metabisulfite is in the range of 1600-1750 yuan / ton. (the above prices refer to the foreign quotations of domestic mainstream enterprises, some of which are temporarily excluded from the scope. The prices are for reference only and have nothing to do with the final pricing of the manufacturer. For details, please contact each manufacturer for consultation).

Industry chain: this week, the price of soda ash, the upstream product of sodium metabisulfite, was weak, the price of sulfur fell sharply, the cost of raw materials continued to decline, and the price of sodium metabisulfite continued to bear pressure.

3、 Future forecast

Business analysts believe that the cost of raw materials continues to decline, the terminal demand turns weak again, and many negative effects are suppressed. In the short term, the domestic market price of sodium pyrosulfite will continue to be weak at the bottom.