On the evening of September 6th, Daon shares announced that it had signed an Equity Purchase Agreement with the counterparty with the conditions of the effective date. The company intends to purchase 80% of Haier New Materials held by Yantai Xu Lishengen in cash. After the completion of the transaction, Haier New Materials became a holding subsidiary of the company. The initial transaction price of Haier New Materials’ 80% equity was 263 million yuan. All are paid in cash and do not involve the issue of shares to purchase assets.

In terms of performance commitments, Haier New Materials’ net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses in 2018, 2019 and 2020 was RMB 185 million. According to the preliminary calculation of Haier New Materials’ unaudited 2017 financial data, this transaction constitutes a major asset restructuring.

The company’s main business is the development and production of thermoplastic elastomer products, modified plastic products and masterbatch products. The products are mainly dynamic vulcanized thermoplastic elastomers (TPV). Modified plastic products are mainly enhanced toughened modified plastics, high gloss modified plastics and flame retardant modified plastics. Haier New Materials is mainly engaged in the production and sales of modified plastics such as PP and ABS. Its modified plastic pellets are widely used in the production and processing of home appliances and automobiles. The downstream customers of the target company mainly include Haier Group, Matsushita Electric Industrial Co., Ltd., Yanfeng Automobile, and Mitsubishi. Haier new material customers and Dow shares customers have certain overlap and interaction, and all belong to the same industry, with high synergy.

The company said that after the completion of the transaction, Haier New Materials’ product advantages and sales channels will be used to further strengthen the cooperation with downstream customers and expand the product market.

Guotai Junan pointed out that Haier New Materials is mainly based on the production and processing of modified plastics for home appliances. This has enabled the company to further enhance its technology and channel advantages in the field of modified plastics and become a leading provider of modified plastic solutions.

On September 6, the price of metal cobalt in the domestic non-ferrous metal spot market rose, and the average price of cobalt was 48,7500.00 yuan / ton, up 0.13% from the previous trading day.

On September 6, the price of metal cobalt in major domestic manufacturers was temporarily stabilized. The average price of cobalt ex-factory was 52,5000.00 yuan/ton, which was stable compared with the previous trading day.

On September 5th, the cobalt commodity index was 175.13, which was the same as yesterday. It was 26.70% lower than the highest point of 238.91 points (2018-04-15) in the cycle, which was 150.76% higher than the lowest point of 69.84 on July 5, 2016. (Note: Period refers to 2011-09-01 to date).

On September 6, the domestic price of cobalt rose, and the price of cobalt powder in Shanghai fell, and the actual transaction price remained stable. On September 6, the domestic cobalt price of Wuxi Stainless Steel Electronic Trading Center was 466,000-496,000 yuan/ton, and the price of cobalt was stable. On September 6, the stock was 566.75 tons, and the inventory was reduced by 4.5 tons. The supply of cobalt is at a high level, and downstream enterprises are purchasing on demand, but the market is still dominated by wait and see. The growth rate of new energy vehicles has declined, but the performance is still better than market expectations. The performance of new energy vehicles is positive for the stability of cobalt prices, but it is difficult to change the downward trend of cobalt prices. However, due to the absolute high cobalt price in the previous period, the import cost of cobalt ore is relatively high, and the space for cobalt price decline is limited.

In terms of market outlook, there is no major change in the supply and demand of cobalt. The overall supply of cobalt is oversupplied, the price of cobalt is difficult to maintain, and the domestic cobalt price is still at risk of decline. It is expected that the price of cobalt in the market will fluctuate and stabilize.

First, the price data

According to the data of the business community’s big list (top.100ppi.com), the average price of petroleum coke products of major domestic refining manufacturers in August was 1720.12 yuan/ton at the beginning of the month, and 1937.44 yuan/ton at the end of the month, rising by 217.32 yuan/ton during the month. The monthly increase was 12.63%. In July, the refining petroleum coke market as a whole showed an upward trend.

Second, the analysis of influencing factors

The main reasons for analyzing the trend of domestic petroleum coke prices in August are as follows:

First, upstream raw materials: According to business monitoring, Brent crude oil at the beginning of the month of 77.32 US dollars / barrel, the end of the month 77.27 US dollars / barrel, the monthly increase of -0.06%; WTI crude oil at the beginning of the month 68.76 US dollars / barrel, the end of the month 70.25 US dollars / barrel, within the month The increase was 2.17%. The United States continues to impose sanctions on Iran, Iran’s crude oil exports have fallen sharply, oil market supply has increased, and Russian crude oil production has continued to increase.

Second, the downstream demand: In August, the downstream electrolytic aluminum began to dump goods in winter, making the price of prebaked anodes rise, the price of calcined coke continued to rise, and environmental protection pressure continued to increase.

Third, the market supply: August, Shandong refining and refining petroleum coke trading is good, the price of coke rose 200-300 yuan / ton, August is still the season of refining and repairing, the supply of refining petroleum coke is relatively tight, and the oil is refining In the coke market, the refining market was shipped in late August, but due to the heavy rain in Shandong, some manufacturers were unable to ship.

Third, the market outlook

The petroleum coke analyst of the business community expects that the increase in the price of refinery petroleum coke in August is mainly due to the overhaul of the coking unit and the heavy rain in Shandong, which may result in the inability of some refineries to ship, and the supply of refinery petroleum coke is tight, which is better for refining petroleum coke. . With the gradual overhaul of the coking unit in late August, the supply of petroleum coke will increase. It is expected that the price of refining petroleum coke will be stable in September, and some manufacturers will fluctuate slightly, and the price may be 1800-2000 yuan/ton.

1. Price trend

According to the price monitoring of the business community, this week’s TDI price closed at 30,440 yuan / ton, a decrease of 260 yuan / ton, a decrease of 0.85% compared with the beginning of the week, the price fell slightly.

2. Analysis of influencing factors

Product: The domestic TDI market fell slightly this month. Shandong Dongda Yinuowei Polyurethane Co., Ltd. reported domestic production of 30,500 yuan / ton; Shanghai Xingrong Chemical Co., Ltd. reported dow30500 yuan / ton; Nanjing Carbon Green Chemicals Co., Ltd. reported that Zhangzhou Dahua 30,500 yuan / ton; Zhangjiagang Free Trade Zone Pan Asia International Trade Co., Ltd. reported BASF 30200 yuan / ton.

Industry chain: The market continued to fall slightly this week. The traditional peak season of TDI is coming, and the industry has different views. Some holders said that this year is not necessarily the same, the downstream environmental inspection is strict, each year is different. According to the previous trend, many people will stock up before the peak season, which directly leads to the peak season, and the supply and demand shutdown is such a dynamic change. It can only be said that the first two years are the peak period of TDI. At the same time, many goods dealers also said that there is no stockpile plan, TDI does not dare to pick up the goods, the current profit margin of the manufacturers is still very large, so the space for the fall will be great. At the same time, Yantai Juli and Wanhua Chemical will each have their own production capacity of 150,000 tons/year and 300,000 tons/year. The production capacity will increase and the supply gap will be improved.

Industry: Two consecutive TDI prices such a roller coaster-like market shows that there is indeed a problem in the TDI market. At present, TDI is a high-margin product in the polyurethane industry, and it has been a high price in the recent collapse to 24,500. Long-term high product prices are not conducive to sustainable development. Domestic and foreign manufacturers are researching ways to reduce or replace the use of TDI. If the price does not return to a healthy level at an early date, the follow-up situation is worrying.

III. Conclusions and prospects

According to analysis by business community data analysts: TDI continued to decline slightly in the short term, and the peak season is expected to be flat. The gold, nine, and silver markets need to be stimulated, and there will be no small growth.

First, the price trend:

According to the price monitoring of the business community, the domestic crude benzene market price increased slightly this week, and the price closed at 5,369 yuan / ton, an increase of 2.74%.

Second, the market analysis:

Product: The price of crude benzene in China is large this week. As of Friday, the mainstream price in Shandong was around 5,450 yuan / ton; the mainstream price in Shanxi was around 5,300 yuan / ton; the mainstream price in Inner Mongolia was around 5,400 yuan / ton.

Industry chain: The crude benzene market fell slightly this week. The price of hydrogenated benzene in the downstream continued to retreat by about 100 yuan, but the profit declined. The crude benzene continued to rise in the late stage and the resistance was relatively high. Prices are expected to continue to fall.

Third, the trend forecast:

The crude benzene analyst of the business community believes that there has been a slight correction and it is expected to continue to call back later.