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.

1、 Melamine price trend:

(Figure: P value curve of melamine product)

2、 Market analysis:

Product: according to the monitoring sample data of the business agency, the melamine market did not change significantly on the 23rd. In recent years, the operation rate of melamine plant has slightly decreased, but at present, the supply of goods in the market is sufficient, the downstream demand has not been substantially improved, and the on-site trading atmosphere is light. As of April 23, the average price of melamine enterprises was 5100 yuan / ton, which was the same as that of yesterday and 4.37% lower than that of April 1. On the 23rd, the mainstream price of melamine market in China was around 4600-5300 yuan / ton.

On April 22, the melamine commodity index was 54.84, the same as yesterday, a new low in the cycle, 45.16% lower than the peak of 100.00 on September 18, 2011. (Note: cycle refers to 2011-09-01 to now)

Industrial chain: on April 22, the urea market in Shandong fell slightly, and the enthusiasm for receiving goods in the downstream was weak. The future market expected the urea price to fluctuate slightly. This week (4.20-23), the domestic liquid ammonia market fell slightly, most manufacturers reported stability, some manufacturers were affected by the inventory pressure, slightly reduced the quotation, and there was a downward action in the middle of the week, with the range of 50-100 yuan / ton. According to the monitoring of the business agency, the current price of liquid ammonia in the northern region is about 3000 yuan / ton.

Industry: according to the price monitoring of the business agency, there are six commodities in the list of commodity prices rising and falling on April 22, 2020, among which the top three commodities are acetone (2.99%), ethyl acetate (1.21%) and acetic anhydride (0.73%). There are 19 kinds of commodities falling on a month on month basis, and one kind of commodities falling by more than 5%, accounting for 1.1% of the number of commodities monitored in the sector; the top three products falling were ethylene (- 5.41%), styrene (- 3.56%) and mixed xylene (- 2.22%). The average price of this day was – 0.21%.

3、 Future forecast:

Melamine analysts believe that the melamine market is expected to be weak and stable in the short term.

1、 Price trend

According to the data monitoring of the business agency, from April 12 to 20, the propane market went up and down like a roller coaster. On April 12, the average price of the propane (Shandong) market was 3107.5 yuan / ton, and on April 20, the average price was 3175 yuan / ton. During this period, the propane price increased by 2.17%, while the amplitude of the earthquake reached 37.97%. Until April 21, the trend was stable.

2、 Analysis of influencing factors

Product: as of April 20, Shandong Dongming Petrochemical Co., Ltd. has stopped using propane for its own use, and Shandong Haiyou Petrochemical Group has no propane in stock, so the price is not offered temporarily. The ex factory price of propane of Tianjin Bohai Chemical Group supply and marketing company is 3200 yuan / ton, that of Shandong Dongying Hualian Petrochemical Co., Ltd. is 3200 yuan / ton, that of Shandong HSBC Petrochemical Co., Ltd. is 3300 yuan / ton, that of Shandong Hengyuan Petrochemical Co., Ltd. is 3350 yuan / ton, that of Shandong Binzhou Dayou group is 3300 yuan / ton, and that of Sinopec Qingdao refining Co., Ltd The factory price of propane is 3150 yuan / ton.

On April 12-20, propane saw a sharp decline after a crazy rise, and the trading atmosphere of the market was obviously weakened. In the early stage, the rapid expansion of polypropylene, the raw material of respirator, led to the sharp expansion of propylene, while propane, as the upstream of propylene, took the opportunity to keep up with the expansion. Manufacturers in Shandong generally rose 750-1350 yuan / ton, which was too strong and lacked basic support. In just three days, it ushered in a rational callback. After skyrocketing, the downstream is more cautious and wait-and-see, the market entry mood is not good, the upstream shipment is blocked, and the inventory gradually increases. And then propylene ushered in a significant correction, propane fell with propylene, the market returned to rationality. Until April 21, prices gradually stabilized.

Propylene: on Saturday (11th), propylene was generally increased by more than 1000 yuan / ton, and on Sunday (12th), it continued to soar by 1000-5000 yuan / ton. On Monday, after a weekend surge, the market may need to be digested. On the 13th, the price of most enterprises was roughly unchanged. On the 14th, the price of most enterprises dropped by 1000 yuan / ton, and some of them recovered to the price before the surge. On the 15th, the price dropped by 500-1000 yuan / ton, and on the 16th Georgia continued to decline by about 200 yuan / ton. On the 17th, the price still fell by about 400 yuan / ton. On Saturday (18th), it made up for the drop. On Saturday, the market turnover was between 5850-6300 yuan / ton, and the mainstream price was between 5850-6000 yuan / ton.

Latest CP price: Saudi Aramco announced in April that the price of propane and butane were lowered. Propane fell to $230 / T, down $200 / T from last month; butane $240 / T, down $240 / T from last month.

Industry: according to the price monitoring of the business agency, in the 15th week of 2020 (4.13-4.17), there are 38 kinds of commodities rising month by month in the list of commodity prices in the chemical industry sector, among which 14 kinds of commodities rising by more than 5%, accounting for 15.7% of the number of commodities monitored in the sector; the top three commodities are acrylic acid (25.40%), maleic anhydride (19.02%) and crude benzene (15.55%). There are 21 kinds of commodities falling on a month on month basis, with 8 kinds of commodities falling by more than 5%, accounting for 9% of the number of commodities monitored in the sector; the top three products falling are propylene (- 34.79%), propylene oxide (- 13.77%) and propane (- 11.46%). This week’s average was up or down 1.02%.

3、 Future forecast

Last week (April 13-17), under the influence of downstream propylene, the propane market rose sharply and fell sharply. The downstream mentality was cautious, and the market was mainly on the sidelines. There was no obvious positive support in the international market. The manufacturer’s shipment was not smooth, resulting in the accumulation of inventory. With the price reduction, the terminal may have the expectation of replenishment, and the propane market is expected to adjust mainly in a narrow range in the short term.