1、 Price trend

This week, the comprehensive price of hydrochloric acid in North China fell, from 192.50 yuan / ton at the beginning of the week to 172.50 yuan / ton at the end of the week, a sharp increase of 10.39%. Overall, hydrochloric acid market fell this week, with hydrochloric acid commodity index at 45.39 on February 26.

2、 Market analysis

From the manufacturers’ quotation, this week’s hydrochloric acid market manufacturers’ quotation fell, the overall market is general. Taiyuan kunshengda hydrochloric acid quoted 60 yuan / ton, which was temporarily stable; Dezhou Shihua hydrochloric acid quoted 600 yuan / ton, which was temporarily stable; Wenshui synthetic hydrochloric acid quoted 180 yuan / ton at the weekend, which was temporarily stable compared with the beginning of the week; Jinan Yuanfei hydrochloric acid quoted 400 yuan / ton at the weekend, which was temporarily stable compared with the beginning of the week; Dezhou Maihua hydrochloric acid quoted 50 yuan / ton at the weekend, which was 80 yuan lower than the beginning of the week/ Tons.

From the perspective of the upstream and downstream industry chain of hydrochloric acid, the upstream liquid chlorine market is general, which gives weak support to hydrochloric acid, while the downstream silica market is low, which has a negative impact on hydrochloric acid. The high market price of ammonium chloride had a positive impact on hydrochloric acid. Hydrochloric acid market as a whole looks stable this week, hydrochloric acid shipment is still a big problem.

3、 Future forecast

The recent market of liquid chlorine in the upstream is general, while the market of silica and ammonium chloride in the downstream has their own ups and downs. Business community analysts believe that hydrochloric acid in the recent small shocks.

Price trend of spot precious metals

According to business news agency data, on February 26, the average price of silver in the morning market was 5584.67 yuan / kg, down 2.30% from 5716.33 yuan / kg in the spot market at the beginning of the month (February 1), and up 0.62% from 5550 yuan / kg in the spot market at the beginning of the year (01.01).

On February 26, the spot price of gold was 370.80 yuan / g, a decrease of 4.41% compared with the average price of 372.71 yuan / g in the spot market at the beginning of the month (2.1), and a decrease of 5.58% compared with the spot price of 392.70 yuan / g at the beginning of the year (01.01).

Main reasons for precious metals’ correction in February

1. Soaring bond yields

The poor auction result of US Treasury bonds led the 10-year yield to jump to more than 1.6% on Thursday; the soaring bond yield reflected the improvement of US growth prospects and inflation expectations.

2. Lack of investment demand

After the investment peak in 2020, the price of precious metals will gradually weaken. With the continuous introduction of vaccines into the market, the expectation of economic recovery from the epidemic is strengthened, and the possibility of real interest rate rising is increasing.

The expected outflow of investment funds from gold ETF increased, and domestic gold ETF positions fell due to factors such as stronger exchange rate.

3. Closure of alternative assets

Other alternative assets spread investor demand for gold.

According to the data monitored by the business agency, the price of domestic industrial grade potassium nitrate was 4175.00 yuan / ton in February, which was stable. The current price was up 0.00% month on month, and the current price was down 4.02% year on year.

In February, the domestic potassium nitrate Market did not fluctuate much. Before and after the Spring Festival holiday, the exchange trading atmosphere was relatively cold. Most downstream factories took goods on demand, and the inventory was relatively sufficient. The rising power was insufficient. According to the statistics of the business society, the domestic potassium nitrate mainstream manufacturers quoted 4000-4300 yuan / ton this week (the quotation is for reference only), and the quotation was different according to the procurement situation.

Recently, the quotation of potassium chloride mainstream manufacturers was temporarily stable: on February 25, the potassium chloride equipment of Qinghai Salt Lake Potash Fertilizer Co., Ltd. operated normally. The ex factory quotation is 2050 yuan / ton, the quotation is temporarily stable, and the actual transaction price is mainly through negotiation. Anhui Badou Chemical Co., Ltd. quoted 2230 yuan / ton for potassium chloride distribution, which was temporarily stable. The actual transaction price was mainly through negotiation. In February, the transaction of potassium chloride market was fair, and the price was high, which could give some support to potassium nitrate.

In the near future, potassium chloride has a rising trend, some traders are reluctant to sell, the market supply is tight, and the cost support is strong. It is expected that the potassium nitrate Market will mainly rise in the short term, and the long-term market still needs to wait and see. (the above prices are provided by the main manufacturers of potassium nitrate all over the country and sorted out and analyzed by the potassium carbonate analysts of the business society. They are for reference only. For more price details, please contact the relevant manufacturers for consultation).

Price trend

According to the data of business club’s block list, the domestic caprolactam market continued to rise in late February, and the spot price generally rose. As of February 24, the average price of caprolactam sample enterprises in the business community was 12600 yuan / ton, an increase of 17.76% compared with the average price at the beginning of the month.

quotations analysis

After the festival, domestic caprolactam prices continued to rise. At present, Shandong Luxi Chemical caprolactam liquid price 13200 yuan / ton, cash factory, factory capacity 300000 tons, the actual deal can be discussed. Nanjing Dongfang caprolactam liquid price 13400 yuan / ton, 400000 tons / year, about 80% of the unit operating rate. Baling Hengyi caprolactam liquid price 13100 yuan / ton, 450000 tons / year plant is now back to normal operation, acceptance delivery. The price of caprolactam liquid in Baling Petrochemical Company is 13100 yuan / ton. The 300000 ton / year unit is normally started and delivered by acceptance.

The price of pure benzene in the upstream is also strong. According to the data of the business club’s block list, the price of pure benzene has risen continuously, breaking through 6000 yuan / ton, and the price has returned to the pre epidemic level. As of February 24, the price of pure benzene was about 6450 yuan / ton, up 37.82% from the beginning of this month. In terms of external market, affected by the severe cold weather in the United States, many refineries shut down. The sharp rise of crude oil and pure benzene supported the rising price of domestic pure benzene. In addition, some refineries shut down their pure benzene plants unscheduled, and domestic pure benzene enterprises continued to receive good news. New units are expected to be put into operation in the downstream, pure benzene supply is expected to be tightened, and the price still has room to go up. However, the trend of pure benzene is expected to moderate with the recovery of supply of foreign units. Continue to pay attention to the downstream procurement situation, domestic and foreign trends of pure benzene plants, crude oil, external market and styrene trend, etc.

Future forecast

Caprolactam business analysts believe that: the current upstream benzene market is strong, strong support for caprolactam cost side. The supply side of caprolactam has not been substantially improved. At the same time, after the festival, the starting level of downstream PA6 recovered rapidly, the demand increased, and the price of caprolactam was raised. Domestic caprolactam fundamentals good oligomerization, clear market direction. Caprolactam market is expected to continue optimistic trend.

1、 Price trend

According to the data of business club’s block list, the price of toluene continued to rise after the festival. The price of toluene was 4787.5 yuan / ton on February 9, and 5225.25 yuan / ton on this Sunday (February 21), up 437.75 yuan / ton or 9.14% compared with that before the festival.

2、 Analysis and comment

From February 10 to 21, Sinopec’s Toluene price increased by 350-600 yuan / ton. During the Spring Festival, affected by crude oil and cold weather in the United States, energy and chemical products rose. The domestic toluene market was boosted by favorable conditions, and the price rose strongly. Asian PX prices rose due to unscheduled shutdown of some devices and reduced supply. However, there is little change in domestic downstream units, and the demand follow-up is weak, which limits the growth of toluene. In terms of external market, the price of toluene imported from South Korea rose by 5.88% to US $666 / T on February 19, and rose by 5.31% to US $684 / T on February 12.

In terms of crude oil, during the Spring Festival, affected by the extremely cold weather in the United States, the operating rate of refineries declined, the inventory of refined oil decreased significantly, and the demand for heating oil increased, which was favorable for oil prices. On February 12, Brent rose $2.125/barrel, or 3.47%; WTI rose $2.39/barrel, or 4.11%.

Downstream: in terms of TDI, the price of TDI in East China remained stable during the Spring Festival, with domestic goods of 12833.33 yuan / ton, an increase of 17.47% over the same period last year. The domestic market is in strong operation, the supplier’s inventory is under no pressure, and the attitude of supporting the market is still the same. Coupled with the force majeure caused by the bad weather abroad, the market is going up, waiting for the guidance of the supplier’s information.

In the PX market, the domestic p-xylene ex factory price showed an upward trend this week, with an average price of 5700 yuan / ton at the weekend, up 7.55% compared with that before the festival, and a year-on-year decline of 9.52%. The operating rate of PX in China is about 60%, and that of p-xylene unit in Asia is about 60%. During the Spring Festival, the earthquake in Japan, Vietnam a set of device shutdown, PX production was affected. In the short term, the domestic PX market continued to go to the warehouse. By the end of the week, the closing price of PX market in Asia was 762-764 USD / T, FOB Korea and 780-782 USD / T CFR China.

3、 Future forecast

Analysts from the chemical branch of business society think: first, look at the supply cost side, the implementation of OPEC + production reduction, the total number of oil drilling platforms in the United States, and weekly EIA and API inventory data. Second, on the demand side, the impact of the global epidemic on crude oil demand, the recovery of the industrial chain, the economic and trade situation in Europe and the United States, and the progress of the fiscal stimulus plan. Third, look at the geopolitical situation in the Middle East, China and the United States, the progress of new technology, the dollar index and stock market linkage.

Toluene market ushered in a good start, crude oil support was strong, the bulk market atmosphere was warm, and the price rose generally. But demand limits gains. Overall, toluene is expected to continue to follow the trend. Continue to pay attention to the recovery of downstream demand and the impact of crude oil and external market on toluene prices.