Analysis of the hottest chemical market this week

2022-08-07
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This week's chemical market analysis and next week's forecast

1. International market

a, toluene, xylene and pure benzene Market: 1. Pure benzene: due to the strong crude oil price this week, the price of pure benzene in Asia further increased by 35 US dollars/ton to 770 US dollars/ton (FOB Korea, equivalent to 7777 yuan/ton). The price of toluene in Asia is relatively high, resulting in the inversion of the price of pure benzene and toluene. Some tdp/had unit manufacturers cut down the operating rate, which gave impetus to the rise of pure benzene price. 2. Solvent xylene: due to the tight supply in Asia and the high domestic price in China, the price of solvent xylene rose sharply this week by US $30/ton to US $790/ton (FOB Korea, equivalent to RMB 7979/ton). As there are three units in Korea for overhaul in April and may, the spot supply in Asia is limited. Driven by the reduction of resources, the spot price of toluene in Asia this week closed up by 35 dollars to 805 dollars/ton (FOB Korea, equivalent to 8131 yuan/ton). B. Styrene: supported by the rising price of energy and raw material benzene, the price of styrene monomer in Asia rose by US $30/ton to US $1015/ton (FOB Korea, equivalent to RMB 10160/ton). The slight improvement in the downstream styrene plastic market also supported the market. Some vendors said that the supply of multiple sets of equipment for maintenance was appropriate, which gave impetus to the further price rise in the near future. C. Ethylene glycol and diethylene glycol: 1. Ethylene glycol: supported by traders' speculation, strengthened demand and tight supply, the spot price of MEG this week rose by $15/ton to $835/ton (CFR China main port, equivalent to RMB 8434/ton). On the one hand, the improvement of downstream market conditions once again supported the price rise this week. The firmness of PET bottle grade chips, high oil prices and the relative stability of ethylene prices also played a role; Another positive factor is the tight supply. Due to the extremely low inventory of end users, the tension intensified. The buyer's request for more shipments in April was rejected by the manufacturer, and the trader took it as the basis for price increase. 2. Diethylene glycol: driven by the higher prices of styrene and pure benzene, the spot price of diethylene glycol closed up $10/ton to $660/ton this week (CFR China main port, equivalent to RMB 6666/ton). The transaction has recovered. At least the negotiation atmosphere is more active than last week

one week trend chart of the international liquid chemical market

2. Domestic market

(1). One week market analysis: A. pure benzene, toluene and xylene: driven by the reduction of resource supply and the continuous strengthening of downstream demand, see whether their transmission and rotation performance is smooth. This week, the toluene and xylene markets in South China and East China rose steadily, of which xylene in South China rose sharply due to the shortage of goods, At 250 yuan/ton; Toluene increased by 100 yuan/ton; Toluene and xylene in East China rose by 50 yuan/ton, and the market prices were 7950 East China -8600 South China (xylene); 7950 East china-8100 South China (toluene); The market price of pure benzene fell slightly by 50 yuan/ton due to the flat downstream demand, which was between 6600 yuan/ton in East China and 6650 yuan/ton in South China (pure benzene). Styrene: affected by the recovery of downstream PS demand and the continuous elevation of outer disk prices, while most traders and downstream manufacturers are enthusiastic about receiving goods, especially the traders' reluctance to sell, and the low inventory of petrochemical enterprises and the increase of prices, the market situation in South and East China continued to rise this week, with the price rising steadily by 100 yuan/ton. The market prices in South and East China are: yuan/ton (East China) and Yuan ton (South China) respectively. C. Ethylene glycol and diethylene glycol: the price of ethylene glycol in East China and South China this week broke the deadlock of last week's market oscillation and saw saw saw, with a slight increase of 100 yuan/ton. In (South China) and yuan/ton (East China), sales were active due to the rising of oil prices and the corresponding rise of external prices, as well as the tight supply of resources and the increase of downstream demand, especially the support of traders' reluctance to sell. This week, the market price of diethylene glycol in East China rose by 100 yuan/ton due to the recovery of downstream demand and the higher external price, which was at yuan/ton; The market in South China dropped by 50 yuan/ton due to the strong conflict between downstream manufacturers and traders due to the excessive price rise

region

styrene

ethylene glycol

diethylene glycol

toluene

xylene

pure benzene

South china

transaction price of liquid chemical products in some domestic regions in one week (unit: yuan/ton, out of tank price)

market transaction price trend of liquid chemical products in some regions of China vertical diagram between the axis of loading roller and the center line of the long axis of sample (unit: yuan/ton)

(2) market forecast for next week: this week, the oil price and the external price continued to rise, while traders and downstream factories received goods enthusiastically, the atmosphere of negotiation was active, and the inventory of petrochemical enterprises was low, especially the traders were reluctant to sell. Therefore, the market trend of next week: 1. Toluene, xylene and pure benzene markets: driven by the rising oil prices, external market prices and the reduction of resource supply, the markets in East and South China show obvious signs of rising, especially the xylene price has risen by 200 yuan/ton. At present, the xylene resources in East and South China are very scarce, petrochemical enterprises and traders continue to raise prices, and the market rise continues; On the contrary, the rise of toluene is becoming slower and slower, even a little stagflation. Considering that the xylene market has been rising for two consecutive weeks, the downstream manufacturers and 2. During the operation of the unit, the traders have been in the mood of resistance and the May Day holiday is coming. The traders have the habit of clearing goods for the new year, while the downstream manufacturers have the intention to prepare materials only after the festival, mainly because of the wait-and-see mood. Therefore, next week, toluene is dominated by weak oscillation and consolidation; Xylene rose in a narrow range; Pure benzene was mainly stable in the future due to the rising external market and the increasingly stable downstream demand. 2. Styrene Market: supported by the high oil price and external price and the increase of downstream PS demand, especially the positive receiving of downstream manufacturers and the weakening of traders' willingness to ship, the styrene market continued to rise in the early and medium term. In the later period, the upward trend became increasingly weak and there were signs of stagflation. Therefore, the short-term market is weak at this price, mainly stable; 3. Ethylene glycol Market: Recently, the market price of ethylene glycol has increased due to the rising external market, the warming of downstream demand, and the strong interest of downstream manufacturers and traders in replenishment, especially the increased willingness of traders to be reluctant to sell. The key lies in the recent tight supply of resources at home and abroad, the stable price of petrochemical enterprises and small inventory; However, when the price rises to a certain level, downstream manufacturers and traders breed resistance, mainly due to insufficient downstream demand support. Therefore, in the short term, the market is still dominated by oscillatory consolidation; 4. Diethylene glycol Market: diethylene glycol rose slightly supported by the rising Styrene Market and increased demand. Therefore, the overall trend is still stable. As the May Day holiday is coming, many traders have the intention of clearing goods for the new year. There are still some unpredictable unstable factors in the market, and there are still some variables in the market in the short term

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