1、 Price trend of sodium pyrosulfite in China

According to the monitoring of the business agency, after the May Day holiday, the domestic price of sodium pyrosulfite was slightly stronger. The average price of industrial grade sodium pyrosulfite was 1783.33 yuan / ton at the beginning of the week and 1800.00 yuan / ton at the end of the week, a slight increase of 0.93%.

2、 Market analysis

This week, the overall market performance of sodium pyrosulfite is acceptable. The market price range of industrial grade sodium pyrosulfite is 1700-1950 yuan / ton, and most of the prices are around 1800-1850 yuan / ton. The production of the enterprise is stable, the inventory is maintained at about 30%, the enterprise mainly completes the orders of old customers, and the increase of new orders is limited. This week, some enterprises slightly increased the ex factory price of sodium pyrosulfite supported by tight supply, driving the domestic market price of sodium pyrosulfite slightly stronger（ The above prices are quoted by domestic mainstream enterprises, and some enterprises not quoted are not within their scope. The prices are for reference only, and have nothing to do with the final pricing of manufacturers. For details, please contact each manufacturer for consultation).

After May Day, the domestic soda price rose again by 0.57%, the sulfur price remained stable as a whole, and the high raw material cost became stronger, which will further support the future market price of sodium pyrosulfite.

3、 Future forecast

Analysts of business news agency believe that the cost of upstream raw materials is getting stronger again, and the supply in some areas is tight. It is expected that the domestic market price of sodium pyrosulfite will continue to be stable and strong in the short term.

The domestic butadiene market fell in April. According to the sample data monitored by the business society, the domestic butadiene market price at the beginning of the month was 7415/ T, and the domestic butadiene market price was 6787 yuan / T at the end of the month, with a drop of 8.47% in the month, and the price rose 74.49% year on year.

In April, the domestic butadiene market was mainly in a volatile downward trend. The shutdown and maintenance of Fushun Petrochemical plant has boosted the expectation of supply and demand in the residential area to improve, but it is still difficult to pull the butadiene market. Sinopec and some suppliers have slightly increased prices, and some units are stopped in the month. The starting rate of butadiene was once lower than 60%, but the market inventory digestion is slow, the supply is under pressure. The circulation link is abundant and there are low price transactions, which drag the butadiene market to a weak downward trend after a short-term shock.

In terms of enterprises, the price of butadiene in East China of Sinopec has been down by 400 yuan / ton on a month-on-month basis, and 6900 yuan / ton has been implemented as of April 30; Yantai Wanhua 50000 T / a butadiene extraction unit is in normal operation and the source of goods is sold abroad normally. As of April 29, the price is 7200 yuan / ton; Shenhua ningcoal 64000 tons / year butadiene plant is stable in operation, and some of the goods are exported. As of April 30, the price is 6580 yuan / ton.

External offer: as of May 6, the price of Asian butadiene external market was stable: FOB South Korea closed at USD 935-945 / T; CFR China closed at $945-955 / T. Adjustment of external market price of butadiene in Europe: FOB Rotterdam closed at US $1145-1155 / T, up $25 / T; FD NW closed at 880-890 euro / T, stable

region ., Country, closing price, rise and fall

Asia FOB Korea $935-945 / T US $0 / T

Asia CFR China 945-955 USD / T US $0 / T

Europe FOB Rotterdam US $1145-1155 / T $25 / T

Europe FD northwest Europe 880-890 euro / ton 0 euro / ton

On the positive side, the strong external market boosted domestic supply exports in May, and the short-term butadiene industry start-up rate declined, and inventory removal was promoted. On the aspect of profit and air, the circulation link has high inventory, and some units return to affect the commencement rate, and the downstream rubber market is weak and the inventory is under pressure, and the new capacity is expected to be put into operation. Business agency butadiene analysts expect that the domestic butadiene market will be sorted out in the short term.

1、 Formic acid price trend

(Figure: p-value curve of formic acid product)

2、 Market analysis

On May 6, the domestic industrial grade 85% formic acid market rose. According to the data of the business club’s block list, as of May 6, the average quotation price of formic acid enterprises was 2466.67 yuan / ton, up 1.37% compared with the price before the festival, and down 17.32% compared with April 6. After the festival, the enthusiasm of downstream procurement has been improved, the market trading atmosphere is better, and the focus of formic acid market negotiation has moved up.

According to the data monitoring of the business agency, the price of formic acid of some enterprises is summarized (for reference only, the spot price of the merchants is in line with the market, and the actual transaction price of different brands, different specifications and products is mainly negotiated.)

enterprise market price Specifications date

Zhangzhou San’an Chemical Co., Ltd 2400 yuan / ton Application grade: industrial grade; Content: ≥ 85.0%; Grade: superior 2021-05-06

Liaocheng transportation group Hongmao Materials Co., Ltd 2350 yuan / ton Application grade: industrial grade; Content: ≥ 85.0%; Grade: superior 2021-05-06

Jinan jinrihe Chemical Co., Ltd 2300 yuan / ton Application grade: industrial grade; Content: ≥ 85.0%; Grade: superior 2021-05-06

Jintan local industrial supply and Marketing Co., Ltd 2600 yuan / ton Application grade: industrial grade; Content: ≥ 85.0%; Grade: superior 2021-05-06

For upstream caustic soda, on May 6, the price of caustic soda in Shandong remained weak. At present, the mainstream ex factory price of 32% caustic soda is 390-490 yuan / ton. The enterprise’s shipment is tepid, and the downstream receiving situation is weak and stable. There is a strong wait-and-see atmosphere. It is expected that caustic soda will continue to operate with small fluctuation in the future; On May 6, the market of liquid ammonia in Shandong Province was slightly loose; On May 6, the market of sulfuric acid in Shandong Province was temporarily stable. The market of sulfur in the upper reaches was recently consolidated at a high level, and the cost support was good. However, the purchasing enthusiasm in the lower reaches was general, the supply of sulfuric acid was normal, and the ex factory price of sulfuric acid rose slightly in the future; Upstream methanol, May 6, Anhui methanol market higher.

3、 Future forecast

Business community formic acid analysts believe that after the festival, there is a demand for replenishment in the downstream, which is more active in entering the market. Manufacturers can ship smoothly and support the market. It is expected that the formic acid market will be stable, medium and strong in the short term. More attention should be paid to the changes in raw material prices and market information guidance.

1、 Price trend

Mixed xylene prices fell slightly this week, according to data from the business agency’s bulk list. On April 25, the price of mixed xylene was 5790 yuan / ton; The price of this Sunday (April 30) was 5850 yuan / ton, up 60 yuan / ton from last week, up 1.04%.

2、 Analysis and comment

Xylene inventories in East China port fell this week. The demand for gasoline blending before the festival was good, which helped to boost the mixed xylene market to a small extent; In the later period, the demand for gasoline declined, and the market mentality of mixed xylene fell back. On the external market, as of April 30, the price of imported mixed xylene in South Korea was 781.5 USD / T, while the price rose 18 USD / T, or 2.36% on April 23, on April 23; The reference price of domestic imported mixed xylene was USD 804 / T, which rose by 23 US dollars / ton, or 2.94% on April 23.

On the crude oil side, good: news in the week that opec+ conference decided to maintain the policy of gradual increase of production unchanged, and the improvement of energy demand in Europe and America supported the market. Sky: India is in a severe situation, and the recovery of crude oil demand is full of uncertainty. Brent rose $1.46/barrel this week, or 2.23 percent, on April 23; WTI rose $1.34/barrel, or 2.16 percent.

In the downstream and PX market, the factory price of p-xylene in China this week remained stable, with the price of 6400 yuan / ton, 60% year-on-year. The overall operation of p-xylene plant in North China and East China is stable, with the site operating rate of more than 90%, the supply of goods in the site is normal, the goods are in good condition, about 50% in the northwest and over 50% in South China. The closing price for Asia as of April 29 was $858-860 / T FOB Korea and $876-878 / T CFR China.

PTA market, PTA prices in East China rose this week, with Friday (April 30) at 4750.91 yuan / ton, up 4.04% from last week, up 44.35% from the same period last year.

On the ox market, ox prices remained stable this week, with the price of ox in East China on Friday at 5900 yuan / ton, up 40.48% from the same period last year. The price of the external market of phthalate rose, the cost level was temporarily stable, and the downstream market was stable.

3、 Post market forecast

Xylene analysts of the chemical branch of business society think: on the supply cost side, opec+ production reduction implementation, the total number of us oil drilling platforms and weekly EIA and API inventory data. Second, the demand side, the impact of global epidemic on crude oil demand, the recovery of industrial chain, and the economic and trade situation in Europe and America. Third, we will look at the geopolitical situation between the Middle East and the United States, the progress of the new crown vaccine, the dollar index and the stock market linkage.

Crude oil is expected to operate in a strong way, supporting the price of mixed xylene. The support for gasoline blending demand is full of uncertainty, and no obvious follow-up has been made in other downstream. The port has low inventory and tight supply. In a comprehensive way, it is expected that the mixed xylene market will remain strong after the saving period, and the price may rise. We will continue to pay attention to the influence of the price trend of Blending Crude Oil and gasoline, the maintenance dynamics of mixed xylene plant, port inventory and downstream demand changes on the price of mixed xylene.

1、 Price trend

According to the data of business club’s block list, the price of pure benzene rose continuously this week. On April 25, the price of pure benzene was 7050-7400 yuan / ton (average price 7280 yuan / ton), and on Friday (April 30), the price of pure benzene was 7350-7500 yuan / ton (average price 7410 yuan / ton), with an average price of 130 yuan / ton, or 1.79%, higher than last week; It was 145.36% higher than that of the same period last year.

2、 Analysis and comment

In the first half of this week, pure benzene rose first and then fell with the trend of styrene. The delivery price of styrene rose at the end of the month, and pure benzene rose with it; After the fall of demand, the market center of pure benzene weakened. In the second half of the week, due to the preparation of pure benzene before the festival and the active downstream procurement, the inventory of some enterprises continued to decline and the market price strengthened. This week, Sinopec’s listing price increased by 100 yuan / ton to 7400 yuan / ton, with strong bottom support and strong market mentality.

In terms of external market, after the delivery at the end of the month, the focus of external market in Europe and the United States dropped rationally, but the supply in Europe and the United States was still tight, and the pure benzene in Asia remained strong this week. On Friday (April 30), the reference price of pure benzene in the South Korean market was 956.67 US dollars / ton, up 3.34 US dollars / ton or 0.35% from April 23; The import reference price of East China was $980 / T, up 20 / T or 2.08% from April 23.

In terms of crude oil, good news: within the week, OPEC + decided to maintain the policy of gradually increasing production, and the energy demand in Europe and the United States improved to support the market. Bad news: the epidemic situation in India is severe, and the recovery of crude oil demand is full of uncertainty. On April 23, Brent rose $1.46/barrel, or 2.23%; WTI rose $1.34 per barrel, or 2.16%.

Downstream: styrene: this week, the price of styrene rose first and then fell. On April 30, the price of sample enterprises was 9750 yuan / ton, down 2.5% compared with last week, and up 91.18% compared with the same period last year. Early delivery near the end of the month, the price of styrene continued to rise, with the end of the short trade at the end of the month, coupled with strong downstream resistance, styrene fell.

Aniline: before the festival, the price of aniline was stable. On April 30, the price of aniline in Shandong was 10600-10800 yuan / ton, while that in Nanjing was 11000 yuan / ton, which was the same as last week and increased by 123.61% compared with the same period last year.

3、 Future forecast

In terms of crude oil, we will continue to pay attention to the Indian epidemic, the latest OPEC + production reduction plan, global economic data and US crude oil inventory data.

Downstream: styrene, the main downstream product: there is strong resistance to high price styrene in the downstream, and some downstream plants shut down to reduce load. It is expected that there will be a certain degree of negative effect on pure benzene in the short term. In May, the maintenance plan of some domestic units was delayed, Huatai and Hongrun had plans to increase production capacity, and the market supply was expected to be loose.

On the supply side, the pure benzene market is expected to remain tight in May. In terms of inventory, the arrival of goods at the end of the month was concentrated, and the main port inventory in East China began to accumulate, but the increment was not high. In terms of external market, Europe and the United States will maintain supply tension in the short term, with strong external support. Overall, it is expected to maintain a strong trend in May. Continue to pay attention to the downstream market (mainly styrene inventory, demand changes), domestic and foreign pure benzene plant trends, crude oil, external market trends on the price of pure benzene.