According to the data monitoring of the business community, on September 12, the average price of acetic anhydride enterprises was 7231.25 yuan/ton, which was stable compared with the previous trading day, up 47.08% year-on-year.

On September 11th, the acetic anhydride commodity index was 143.31, which was the same as yesterday, which was 13.53% lower than the highest point of 165.73 points (2018-06-19) in the cycle, which was 73.54% higher than the lowest point of 82.58 points on September 20, 2016. (Note: Period refers to 2013-02-01 to date).

On September 12, the domestic vinegar anhydride factory price was temporarily stabilized, and the market transaction price was stable. In most areas, the factory price is 6700-7100 yuan / ton, the actual transaction price is stable, the actual transaction price is about 6500-6900 yuan / ton, the market price is the reference price, the actual transaction price is subject to actual negotiation.

Recently, the price of raw material acetic acid fell, the price of raw material methanol rose, and the overall cost of acetic anhydride manufacturers rose, which formed a favorable price for acetic anhydride. The operating rate of downstream customers has rebounded, and the demand for acetic anhydride is favorable. The enthusiasm of downstream procurement has provided support for the increase in the price of acetic anhydride. However, with the increase in the operating rate of acetic anhydride equipment, the supply of acetic anhydride has increased, while the demand for acetic anhydride has recovered slowly. It is difficult to support the price of acetic anhydride and the price of raw materials continues to rise. Rising, the cost of acetic anhydride rose, the price of acetic anhydride has a strong upward momentum support, and it is expected that the price of acetic anhydride will fluctuate and adjust. The overall domestic acetic anhydride price is difficult to rise and fall sharply, with a small increase and decrease.

First, the price trend

According to the data of the business community’s commodity list, the domestic formaldehyde market rose on the 11th, the price was 1546.67 yuan / ton, up 54.42 yuan / ton from the previous day, 54.45 yuan / ton, an increase of 3.65%, the current price rose by 24.48%.

Second, the market analysis

Products: domestic formaldehyde market price rise, Shandong Linyi area formaldehyde manufacturers offer at 1540 yuan / ton, Hebei province formaldehyde manufacturers offer at 1570 yuan / ton, Jiangsu area factory offer at 1800 yuan / ton, the recent formaldehyde manufacturers operating rate is low, The supply of formaldehyde in the market is tight and the price is rising.

Industry chain: methanol market price rises, methanol market price in Shanxi is 3030-3110 yuan / ton, methanol market price in Anhui is 3350-3400 yuan / ton, and methanol market price in Hebei is 3070-3100 yuan / ton, methanol in Henan area The market price is 3150-3220 yuan / ton, the enterprise inventory is not high, and the shipment is smooth. Downstream sheet companies purchased on demand, the market was active, and the price of formaldehyde rose.

Third, the market outlook

The upstream methanol market rose and the cost support was sufficient, but the downstream plate enterprises purchased on demand. Therefore, the formaldehyde analyst of the business community chemical branch expects that the domestic formaldehyde price may be up or not.

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.