Analysis of the hottest chemical market this week

2022-08-13
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Chemical market analysis this week and forecast next week

1 International market: A. toluene, xylene, pure benzene Market: 1. Pure benzene: the impact of crude oil price fluctuations. This week, the price of pure benzene in Asia shook violently. At the beginning of the week, the spot price of pure benzene was relatively high, but with the decline of crude oil price of 61.5% in Jingtang Port, the price of pure benzene fell by $45/ton to $700/ton (FOB South Korea, equivalent to $7070/ton). The weakness of the downstream styrene monomer market also affected pure benzene. 2. Solvent xylene: this week, the solvent xylene spot market stabilized due to the stable downstream demand, and the spot price rose by $10/ton to $690/ton (FOB Korea, equivalent to RMB 6969/ton). Toluene, affected by frequent oil price fluctuations and declining demand in the Chinese market, the spot price of toluene in Asia fell by $10 to $700/ton this week (FOB South Korea, equivalent to 7070 yuan/ton). B. Styrene: due to the decline of energy and benzene prices, the price of styrene monomer in Asia fell sharply by $60 in the spot market this week. The sample size is small to diameter φ 0.006mm gold wire to $945/ton (FOB Korea, equivalent to RMB 9459/ton). C. Ethylene glycol, diethylene glycol: 1. Ethylene glycol: affected by the decline of PTA price and the weakness of downstream polyester market, MEG spot valuation fell by $30 to $810/ton this week (CFR China main port, equivalent to RMB 8181/ton). 2. Diethylene glycol: affected by the sharp decline in the Styrene Market and the downturn in downstream demand, the spot price of diethylene glycol fell by $20 to $650/ton this week (CFR China main port, equivalent to RMB 6565/ton)

one week trend chart of international liquid chemical market

2. Domestic market

(1) one week market analysis: A. pure benzene, toluene, xylene: stimulated by the sharp decline of crude oil and outer disk prices and the sluggish downstream demand, the toluene, dimethylbenzene, and pure benzene markets in South and East China this week weakened, and the price saw a climb of yuan/ton, of which pure benzene fell by 200 due to the sharp decline of outer disk and the lack of downstream demand support; Pure benzene and xylene increased by 100 yuan/ton due to stable demand. The market prices of toluene, xylene and pure benzene in South China and East China were 7050 East China – 7200 South China (yuan/ton, xylene), 7250 East China – 7400 South China (yuan/ton, toluene) and 7050 East China – 7100 South China (yuan/ton, pure benzene) respectively. Styrene: affected by the continuous downturn of downstream demand and the continuous low in the international market, as well as the fact that most traders and downstream manufacturers receive less goods, most of them leave the site to wait and see, at the same time, the high inventory of petrochemical enterprises and the impact of traders' panic about low-cost dumping, the market situation in South and East China continued to be cold this week, and the price fell sharply by yuan/ton, with the decline in East China being relatively strong, at 500 yuan/ton; South China also lowered 300 yuan/ton accordingly, falling into a stalemate and sluggish state, with few transactions in yuan/ton (East China) and yuan/ton (South China). C. Ethylene glycol and diethylene glycol: affected by the sharp decline in the external market and the weak purchase intention of downstream manufacturers and traders, as well as the pressure of traders eager to clear goods at a low price, the market in East and South China continued the cold state of last week this week, and the price was straight down 200 yuan/ton, in view of this -8250 yuan/ton (South China) in (East China) and 8200; This week, the market price of diethylene glycol in East and South China fell by yuan/ton due to the weak downstream demand and the lack of goods received by traders and downstream factories, as well as the combined blow of the speed skating in the styrene market, at Yuan ton (East China) and yuan/ton (South China)

region

styrene

ethylene glycol

diethylene glycol

toluene

xylene

pure benzene

South China

market transaction price of liquid chemical products in some parts of China in a week (unit: yuan/ton, canning price)

trend chart of market transaction price of liquid chemical products in some parts of China (unit: yuan/ton)

(2) market forecast for next week: this week, oil prices and external prices fluctuated frequently, and domestic traders once speculated in the market, but limited to the decline of market demand and the boycott of downstream manufacturers at high prices, as well as traders' panic about low-cost shipments, coupled with the frustration of the continuous landing of imported resources and the upgrading of inventory pressure of petrochemical enterprises, especially the weak willingness of traders to receive goods, The willingness to sell goods at a low price has deepened the gap between the force measuring piston and the force measuring cylinder. Therefore, the market trend of next week: 1. Toluene, xylene and pure benzene Market: affected by the frequent oscillation of oil prices and external market prices and the successive arrival of imported resources, as well as the slow digestion of inventory by domestic petrochemical enterprises and the sluggish downstream demand, it does not have the momentum to rise for the time being. In addition, the current market conditions in East and South China are once again in a seesaw formation, while the downstream demand is increasingly softening and the market wait-and-see atmosphere is strong, There is still room for price correction, among which the market demand for pure benzene and toluene is weak, and the space for price adjustment is relatively large; Xylene is mainly stable due to the continuous and stable support of market demand and external market price. 2. Styrene Market: under the impact of repeated changes in oil prices and external market prices and sluggish downstream demand, especially the lack of receiving goods from downstream manufacturers and the strong willingness of traders to ship, and the current styrene market is still exploring up and down the declining channel, therefore, the short-term market situation oscillates and consolidates around the current price, but it does not rule out speculation and speculation on high markets due to some unpredictable favorable topics; 3. Ethylene glycol Market: Recently, the market price of ethylene glycol has been hit by the sharp decline in the external market and the downturn in downstream demand, as well as the low replenishment interest of downstream manufacturers and traders, especially the rising low-cost shipping sentiment of traders. At present, the downward trend in East and South China has intensified, and the inventory pressure of petrochemical enterprises has increased and the price has been reduced by a large margin. Therefore, in the short term, the market will still oscillate and decline slightly; 4. Diethylene glycol Market: affected by the decline of Styrene Market and weak demand, diethylene glycol declined slightly, but the range will not be too large. It is mainly supported by the relatively stable prices of external market and domestic petrochemical enterprises, and the overall trend is still consolidation

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