According to the price monitoring of the business agency, the market price of polyester filament maintained a downward trend in the first half of this week, and stabilized in the second half week. Among them, the price of polyester POY slightly recovered. As of September 25, the average market price of polyester POY (150D / 48F) was 5156 yuan / ton, which was flat on a week-on-month basis, with a year-on-year decrease of 34.12%.

Average price rise and fall of polyester filament Market from September 18 to 25, unit: yuan / ton

On September 18, 2020 to September 25, 2020, the products were up and down on a weekly basis

Polyester POY (150D / 48F) 5156 5156 0.00% – 34.12%

Polyester FDY (150D / 96F) 5581 5565 – 0.30% – 29.69%

Polyester DTY (150D / 48F low elasticity) 6613 6576 – 0.57% – 29.53%

In the traditional sales peak season of “Jinjiu Yinshi”, the polyester factory is in a disadvantageous situation of loss and high inventory, and the weak terminal demand leads to the insufficient quality of “Jinjiu”. The overall inventory of polyester market is concentrated in 35-43 days, of which POY inventory is 13-17 days, FDY inventory is around 24-35 days, and DTY inventory is about 32-43 days. Near the National Day holiday, the performance of the demand side began to improve in the second half of the week. The average production and sales of major polyester factories were 110% – 120%, and the production and sales of some better factories could reach 300%. In terms of price, polyester POY of mainstream factories in Jiangsu and Zhejiang increased by 50-100 yuan / ton, of which 150D / 48F) was quoted at 5000-5250 yuan / ton.

In the raw material market, crude oil prices rose slightly, but the spot supply of PTA was still loose, the buying and selling atmosphere was flat, and the price dropped slightly. As of September 25, the average market price was 3401 yuan / ton, down 2.93% on a week-on-month basis, and 33.93% year-on-year. In terms of equipment, 2.2 million tons of Ningbo Yisheng were discharged in the evening of September 17, and 1.4 million tons of Huabin Petrochemical were restored to full load on September 21, and the operating rate increased to above 92%. Zhuhai BP 2.35 million tons PTA plant was shut down in the evening of September 23, and the start-up dropped slightly to 87%. Overall, the supply is still loose, and the inventory is still maintained at a high level of about 4 million tons, and PTA supply pressure is still large in the short term.

Recently, the number of buyers from all over the home textile market of China Light and textile city has increased. The number of orders for online live broadcast counterpart customers has increased. Curtain cloth and decorative cloth continue to interact with each other. The marketing trend of decorative home furnishing fabric with polyester filament as the main raw material is quite optimistic, and the transaction continues to be pushed up. Most downstream enterprises began to increase orders in mid August, autumn and winter. Especially affected by the purchasing action before the National Day festival, the comprehensive starting rate of Jiangsu and Zhejiang looms gradually increased to over 74%. Some downstream polyester factories raised prices to support the market, but the follow-up of downstream orders was insufficient, and the overall order quantity was lower than in previous years.

Xia Ting, an analyst at the business agency, believes that at the end of the month, PTA plant restart and maintenance coexist in the raw material market. Next week, hailun Petrochemical’s 1.2-million-ton PTA plant will be discharged, and Hanbang’s 2.2-million-ton unit is scheduled to be overhauled. In general, the oversupply leads the market, so the cost side is weak. There is still a demand for replenishment in the downstream, but under the pressure of funds, the ability to follow up orders continuously is insufficient, and the industry is mostly pessimistic. Therefore, it is expected that the upward power of short-term polyester filament price is limited.

1、 Price trend

According to the data of the business agency, the domestic maleic anhydride market has been on a strong upward trend. As of September 24, the average price of maleic anhydride by benzene hydrogenation method remained at about 9333 yuan / ton, which was 34.62% higher than that at the beginning of the month, and 36.59% higher than the average price of 6833 yuan / ton in the same period of last month.

The commodity index of maleic anhydride on September 23 was 86.67, up 1.89 points compared with yesterday, 29.92% lower than 123.67 points (2017-12-26), and 69.34% higher than 51.18 points, the lowest point on April 14, 2020.

2、 Analysis of influencing factors

Products: at present, the domestic market of maleic anhydride is stabilizing, and the traders’ stock preparation is basically completed before the National Day holiday. The market trading atmosphere is slowing down and the market supply tension is alleviated. At present, there are about 9500 yuan / ton of solid anhydride in Shandong, 9800 yuan / ton in Jiangsu, 9400 yuan / ton in Shanxi, 9400 yuan / ton in Hebei and 9900 yuan / ton in South China.

Industrial chain: the pure benzene market is mainly volatile recently, and the crude oil price is mainly lower recently. Hydrogenated benzene enterprises have great cost pressure, and the operating rate has slightly decreased this week. The sentiment of market price depressing is strong. Most enterprises near the National Day holiday have a demand for goods preparation before the Festival, which is 3332 yuan / ton. The overall demand of downstream resin factories has increased, and the intention of preparing goods before the festival is good. At present, the industry is generally stable Wait and see.

3、 Future forecast

According to the maleic anhydride product analysts of the business agency, the current market growth of maleic anhydride is slowing down, and the price of maleic anhydride has been high and firm. With the completion of traders’ stock preparation, the market supply is gradually increasing, and the supply and demand sides are playing games. It is expected that the maleic anhydride market will be high and firm in the short term.

1、 Price data:

According to the data monitoring of the bulk list of business associations, affected by the relationship between supply and demand, the price of bromine in Shandong has risen strongly. As of September 22, the average price of bromine in Shandong was about 30333 yuan / ton, up 4.6% compared with the beginning of the month and 0.95% lower than that of the same period last year.

2、 Cause analysis

Products: at present, domestic bromine enterprises generally have low inventory, production is not as expected, the downstream flame retardant market demand is gradually improving, the market trading performance is fair, the industry as a whole presents a tight balance, the enterprise inventory without pressure has a good price intention. At present, mainstream bromine enterprises offer 30000-31000 yuan / ton.

Industrial chain: in the upstream, the price of sulfur market is stable, and the downstream traders and factories mainly replenish the goods as needed. The refineries in various regions can ship the goods, and the seller’s mentality is good. The sulfur market is mainly bullish in the later stage, at present, it is about 843 yuan / ton. The sulfuric acid market fluctuates upward, and the downstream demand for sulphuric acid is more active. Under the contradiction between supply and demand, the product trend is upward. In the short term, Shandong market is in the supply and demand and supply Under the influence of raw materials and other aspects, the sulfuric acid market may rise slightly, at present, it is about 392 yuan / ton; the price of domestic liquid caustic soda is relatively stable and weak, and the intention of preparing goods before downstream festivals weakens, and the industry is obviously bearish on the market after the National Day. The market of main downstream flame retardants of bromine gradually recovered, and the price support of bromine on the demand side was fair; the industry of pharmaceutical and pesticide intermediates started in general, and the support of demand side for bromine price was flat.

3、 Future forecast

According to the bromine industry analysts of the business club, the stock preparation of the downstream flame retardant market was basically completed before the National Day holiday, the market trading activity decreased, and the enterprise production gradually recovered. Some downstream companies had certain resistance to the high price of bromine. It is expected that the bromine market will be stable in a short time, and the competition between supply and demand will be intensified.

1、 Price trend of formic acid

(Figure: P value curve of formic acid products)

2、 Market analysis

On September 22, the domestic industrial grade 85% formic acid market was temporarily stable. According to the data of business club’s bulk list, as of September 22, the average price quoted by formic acid enterprises was 2066.67 yuan / ton, which was flat compared with the previous trading day, increased by 13.76% compared with the beginning of the month, and increased by 21.09% compared with August 22. The equipment of the enterprise basically operates normally. The downstream pharmaceutical, rubber, leather, pesticide and other industries mainly purchase formic acid on demand, and the transaction is fair. The overall market price is mainly stable without obvious fluctuation.

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 merchants is subject to the market, and the actual transaction price is mainly negotiated.)

Enterprise price specification date

Zhangzhou San’an Chemical Co., Ltd. 2000 yuan / ton, use level: industrial grade; content: ≥ 85.0%; grade: superior product: September 22, 2020

Zibo pulisi Chemical Co., Ltd.; 2000 yuan / T; application level: industrial grade; content: ≥ 85.0%; grade: superior product: September 22, 2020

Jintan local industrial supply and Marketing Co., Ltd. 2200 yuan / ton, use level: industrial grade; content: ≥ 85.0%; grade: superior product: September 22, 2020

For the upstream caustic soda, the price of domestic liquid caustic soda is weak, the awareness of upstream price promotion is strong, and the downstream demand is weak. It is expected that the price of caustic soda in Shandong will be weak and stable in the later stage, with little impact on formic acid.

For the upstream liquid ammonia, this week (9.14-9.18), the domestic liquid ammonia market remained stable in most regions, while Hebei continued to maintain the steady state last week. The price in Shandong first fell and then rose, and the price stabilized at the weekend. According to the monitoring of the business agency, the decline of liquid ammonia in Shandong was 1.06% in the week of 18th according to the monitoring of the business agency, and the mainstream quotation in the market was 2750-3000 yuan / T, which had a small negative impact on formic acid.

Upstream sulfuric acid, September 21, Shandong sulfuric acid market temporarily stable. The upstream sulfur market has risen slightly recently with good cost support, but the downstream purchasing enthusiasm is general, the supply of sulfuric acid is normal, and the ex factory price of sulfuric acid in the future market fluctuates slightly, which has a limited impact on formic acid.

According to the monitoring data of business agency, the average price quoted by enterprises as of September 21 was 1795 yuan / ton, which was 0.83% lower than last Friday (September 18) and 10.12% higher than that at the beginning of the month.

3、 Future forecast

According to formic acid analysts of business community, the price of upstream caustic soda and sulfuric acid is mainly stable, while liquid ammonia has declined slightly. At present, methanol is running lightly, and the cost support is relatively general. Downstream procurement is on demand. It is expected that the industrial grade formic acid market will operate smoothly in the short term, and more attention should be paid to the market information guidance.

1、 Price trend

According to the price monitoring of the business association, on September 18, the average price of salicylic acid (industrial grade) mainstream manufacturers was 13166.67 yuan / ton, which was flat compared with the beginning of the week, decreased by 8.14% compared with the beginning of the month, and decreased by 14.13% compared with the beginning of the year.

2、 Market analysis

The salicylic acid market is running smoothly this week. After the early price reduction promotion, now the shipment is more stable, the price is stable temporarily. Recently, the export side has improved, and the enterprises’ shipment has turned smooth, and the confidence of the operators has been improved. Salicylic acid manufacturers have been selling more profits. With the production and sales, the volume has been stable. The enthusiasm of middlemen to store up goods has been increased. The market trading atmosphere has improved compared with before. In the short term, the market is mainly stable. As of September 18, the industrial price of salicylic acid was mostly in the range of 10000-15000 yuan / ton, the price was stable, and the actual transaction was mainly through negotiation.

The upstream phenol market was adjusted in a narrow range, the atmosphere of on-site negotiation was flat, and the replenishment mood of downstream factories was not good. At present, the factory’s offer is 5300-5400 yuan / ton, and the East China’s offer is also around 5300 yuan / ton. There is no lack of price reduction in the intention of receiving and submitting offers at the terminal, and the current pressure on the cargo holders is great. It is understood that Shandong and the surrounding areas of Yanshan mostly offer 5350-5400 yuan / ton, while the South China region offers 5400 yuan / ton. There is still room to talk about the actual transaction. The business association predicts that the short-term phenol market will continue to maintain the status quo. Under the current high level of domestic factory operation, the market supply is relatively sufficient, while the downstream demand is insufficient. It is estimated that the reference offer of phenol Market is 5300 yuan / ton.

3、 Future forecast

Salicylic acid analysts of the business agency believe that: at present, the raw material phenol Market is operating in a standstill, the cost side of support is weakened, the demand side has improved, and the market trading is stable. It is expected that the market will be stable in the short term.