1、 Price trend

According to the price monitoring of the business agency, the comprehensive price of hydrochloric acid in North China this week was temporarily stable, with an offer of 203.33 yuan / ton. On the whole, hydrochloric acid market is stable this week, with the hydrochloric acid commodity index of 53.51 on May 22.

2、 Market analysis

（1） Products:

This week, the quotation of hydrochloric acid market manufacturers is temporarily stable, and the overall market is average. The quotation of Taiyuan kunshengda hydrochloric acid is 420 yuan / ton, which is temporarily stable; the quotation of Dezhou Shihua hydrochloric acid is 300 yuan / ton, which is temporarily stable; the weekend quotation of Wenshui synthetic hydrochloric acid is 260 yuan / ton, which is temporarily stable compared with the beginning of the week; the weekend quotation of Jinan Yuanfei hydrochloric acid is 450 yuan / ton, which is temporarily stable compared with the beginning of the week; the weekend quotation of Dezhou Meihua hydrochloric acid is 150 yuan / ton, which is temporarily stable compared with the beginning of the week.

（2） Industrial chain:

The upstream liquid chlorine market is generally weak in support of hydrochloric acid, while the downstream dyes, calcium chloride and chloroethane are still mainly purchased according to early demand. Hydrochloric acid market as a whole seems to be declining, and by-product acid is still hitting the market. The pressure of hydrochloric acid delivery is relatively high, and the quality of by-product hydrochloric acid produced by TDI, chloropropene, propylene oxide and methane chloride is relatively good. On the whole, the difficulty of hydrochloric acid delivery is still a big problem.

3、 Future forecast

The upstream liquid chlorine market is generally in the near future, while the downstream rare earth and fuel demand is weak. Business analysts believe that the recent low consolidation of hydrochloric acid mainly.

According to the monitoring of the business agency, the price trend of domestic phthalic anhydride rose this week. As of the end of the week, the price of phthalic anhydride by ortho phthalic method was 5012.5 yuan / ton, 2.56% higher than the price of 4887.5 yuan / ton at the beginning of the week, down 20.14% year on year. In the near future, the market price of phthalic anhydride has recovered.

In recent years, the price of domestic phthalic anhydride market rebounded and rose. Supported by the rising crude oil price, the price of some downstream petrochemical products rebounded and rose. The market price of phthalic anhydride is no exception. In recent years, the market price of phthalic anhydride is slightly higher. The operation of domestic phthalic anhydride manufacturers is normal, the operating rate of phthalic anhydride in the site is more than 60%, the spot supply of domestic phthalic anhydride is normal, the procurement of downstream plasticizer industry is better than before, the delivery market of phthalic anhydride manufacturers is better, and the market price of phthalic anhydride rebounds. As of the 22nd day, the market price of phthalic anhydride in East China increased slightly, but the high-end transactions in the market were blocked. The main flow of negotiation of neighboring France’s source of goods in East China was 4900-5200 yuan / ton, and that of naphthalene’s source of goods was 4500-4700 yuan / ton; the main flow of negotiation of phthalic anhydride market in North China was 4900-5100 yuan / ton, and the wait-and-see mentality in phthalic anhydride market was still strong, the market was slightly improved, and the price of phthalic anhydride was small rise.

In terms of the industrial chain, the price trend of o-benzene and DOP monitored by the business association is as follows:

It can be seen from the above trend chart that the price trend of upstream orthobenzene is fluctuating. In the near future, the price of CNPC’s orthobenzene is maintained at 4000 yuan / ton. The price of imported orthobenzene in port area is fluctuating and rising, and the price is stable. In the near future, the price of port orthobenzene is general, and the price of external orthobenzene is rising. The actual transaction price is subject to negotiation. The detailed negotiation shows that the price of imported orthobenzene in port area is getting warmer, and the transaction on site is rare , the price of o-benzene slightly increased, the upstream raw material price volatility brought some good support, the market price of phthalic anhydride was affected higher.

By the end of the week, the average price of domestic DOP market was 7033.33 yuan / ton. DOP enterprises operated at low load and DOP manufacturers sold stocks. DOP prices rose, PVC enterprises started normal equipment, customer procurement enthusiasm increased. The price of plasticizer has increased. The market price of DOP is about 6900-7200 yuan / ton. The transaction enthusiasm of market plasticizer is general, the high-speed charges increase, and the logistics and transportation costs increase. Influenced by the increase of crude oil price, the market price trend of phthalic anhydride has increased.

On the whole, crude oil price will maintain good support in the short term, with price shocks as the main factor. The price of domestic petrochemical products will rise slightly affected by this. Business analysts believe that the market price of phthalic anhydride will still rise slightly in the short term.

1、 Price trend

According to the data of the large scale list of business agencies, the domestic xylene market price fluctuated slightly this week. As of Friday, the domestic average price was about 3430 yuan / ton, down 3.65% on last week.

2、 Analysis and comment

1. Product: as Europe and the United States gradually liberalize the restrictions on the epidemic blockade, global demand is expected to improve, but the overall demand is still insufficient. Affected by this, the domestic xylene price is adjusted by shocks this week. At present, the mainstream price in East China is about 3570 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, supported by Saudi Arabia, the United Arab Emirates and Kuwait taking the lead in reducing production, the three major crude oil market reports show that the current oversupply situation has eased. At the same time, with the gradual release of restrictions on the epidemic blockade in Europe and the United States, global crude oil demand is expected to improve. Affected by this, this week’s oil price rebound. However, the market is still worried about the risk of a second outbreak, and the weak economic outlook of the United States still limits the rise of oil prices. Generally speaking, early signs of gradual recovery of oil market balance can be seen, but uncertainty in the oil industry still exists. As of early Friday morning, Brent futures rose 29.62%, Brent futures 17.68%, WTI futures 17.41% and Dubai futures 25.12%.

Downstream, in PX market, the price of domestic Sinopec’s enterprises this week is about 4000 yuan / ton, and the latest price on the outside market is about 467 US dollars / ton for FOB South Korea and 485 US dollars / ton for CFR China. It is expected that the market price of PX will maintain a stable trend in the short term. In terms of PTA market, the price of domestic PTA spot market is about 3450 yuan / ton, and the price of external market is about 417 US dollars / ton CFR China. It is expected that PTA price trend will be stable next week. In the ox market, Sinopec’s offer of o-benzene is stable, with the price of 4000 yuan / ton. The external price of o-benzene is about 455 US dollars / ton FOB South Korea. It is expected that the price of o-benzene will be stable next week.

3、 Future forecast

According to xylene analysts from the chemical branch of business society, in the short term, we can see the supply cost end, OPEC + production reduction, crude oil futures delivery trend in June, and the situation in the US and Iraq. In the medium term, we can see the demand side, the progress of economic restart in Europe and the United States, and the progress of industrial chain recovery. Next week, we will focus on the impact of the delivery trend of crude oil futures in June. Comprehensively, it is expected that the xylene price in the domestic market next week will depend on the trend of crude oil, with great uncertainty.

1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market has been on the rise recently. The average price of ethylene on the 17th was 420.75 US dollars / ton, and on the 19th was 513.25 US dollars / ton, up 21.98%. The current price is down 51.20% year on year.

2、 Market analysis:

Product: ethylene is on the rise in the near future. Asian ethylene market prices rose, as of the 19th, CFR Northeast Asia closed at $575-585 / T, and CFR Southeast Asia closed at $530-540 / T. The price of European ethylene market rose sharply. As of the 19th, the price of European ethylene market was FD, northwest Europe closed at US $487-496 / ton, and CIF northwest Europe closed at US $442-450 / ton. The price of ethylene in the U.S. region is stable. As of the 19th, the price is US $229-247 / ton. Generally speaking, the market of ethylene in Europe and America is in an upward trend in the near future, especially in Europe. The trading atmosphere of the whole ethylene market is active and the market continues to rise. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on May 18, WTI crude oil futures market price in the United States rose, and the settlement price of main contracts was 31.65 yuan / barrel, up 2.13 US dollars or 7.2%. Brent crude oil futures market price rose, the settlement price of main contract was 34.81 US dollars / barrel, up 2.31 US dollars or 7.1%. The crude oil market rose, which supported the cost of ethylene. The price of ethylene continued to rise. The demand of the whole industry in Europe increased. The price of ethylene rose accordingly. The price of styrene in the downstream temporarily remained stable, and the price of ethanol continued to stay high. The price of ethylene continued to rise all the way.

3、 Future forecast:

According to the ethylene analyst of business Chemical Branch, the global oil supply has decreased recently, the demand has recovered, and the oil price has been rising for three days, forming a cost support for ethylene. Therefore, the data analyst of business news expects that the ethylene price will be mainly consolidated and upward next.

1、 Price trend

According to the data monitoring of the business agency, the market of plasticizer DOP rebounded in May and the price of DOP rebounded in May. As of May 18, the price of DOP in East China was 6766.67 yuan / ton, up 7.98% from 6266.67 yuan / ton at the beginning of the month, and down 11.40% from the same period last year.

2、 Industrial chain Market

It can be seen from the trend chart of DOP raw materials that the prices of phthalic anhydride and octanol of DOP raw materials rose in May. In May, the domestic economy continued to recover, the demand for phthalic anhydride and octanol rose, and the price of DOP raw materials gradually recovered. In general, the cost of DOP rose in May, and the downward pressure of DOP still had a strong momentum to rise, and the DOP market was good.

In May, PVC market recovered in shock, and PVC price rose in shock. With the increase of domestic enterprises returning to work, the production of PVC enterprises is increasing, the procurement of plasticizers by PVC enterprises is increasing, the demand for DOP is picking up, and the DOP market is gradually picking up, but the overall positive increase is still negative.

3、 Future forecast

According to Bai Jiaxin, data analyst of DOP of business agency, in May, the price of raw materials phthalic anhydride and octanol of DOP rose in shock, and the cost of DOP rose; in the downstream, PVC enterprises started to increase, and the demand for plasticizers increased, which was good for DOP market. After the May 1st movement, the logistics cost increased, which has a great driving force for DOP price increase. Generally speaking, DOP market is still under great downward pressure, and the future DOP market is stable.

1、 Price trend

The domestic butadiene market was slightly sorted out. According to the monitoring price of the business agency, the domestic butadiene market price at the beginning of the week was 4295 yuan / ton, while the domestic butadiene market price at the end of the week was 4345 yuan / ton, up 1.16% in the week. The price rose 22.95% month on month and 45.88% year-on-year.

2、 Analysis of influencing factors

Products: in this cycle, the domestic butadiene market is weak in consolidation, and the supplier price adjustment is limited, which is difficult to form a sustained support for the market. The downstream raw material inventory is relatively abundant, and the poor transaction brings certain drag to the market. During the week, both Puyang Bluestar and Inner Mongolia Jiutai units were temporarily shut down for maintenance. The supply side continued to shrink at the beginning of this week, which brought a certain boost to the market atmosphere. However, Sinopec’s price adjustment policy has not been implemented yet. The supply in the circulation link of the northern market is relatively abundant. Under the drag of downstream demand, the market is weak. The atmosphere in East China is weak. The low price transaction of some goods sources drags down the market focus, and there is no lack of spot circulation to the northern market in the week, which results in the poor transaction of slightly high price goods sources in Northeast China and the overall drag market atmosphere.

In terms of enterprises, Puyang Bluestar’s 50000t / a butadiene plant was shut down for maintenance on May 10, and the restart time has not been determined yet; Jiutai’s 70000t / a butadiene plant in Inner Mongolia was shut down for maintenance on May 12 in the evening, with an estimated duration of 5-7 days; Nanjing Chengzhi’s 100000 t / a butadiene plant was shut down for maintenance on April 7, with a planned restart time of about May 16; some domestic plants were shut down intensively As a result, the overall operating rate of butadiene industry continued to decline to less than 60%.

In terms of industrial chain: SBR: in this cycle, the mainstream factory price of domestic SBR sales companies rose by a narrow margin, with an increase of 100 yuan / ton. Some sales companies did not adjust the price of oil and rubber. The start-up rate of styrene butadiene plant was slightly increased to around 60.20% (of which, the start-up rate of emulsion polymerized styrene butadiene plant was around 60%); Qilu, Yangzi, Jihua, Fushun, Lanhua, Weitai, Shenhua and Bridgestone all operated normally; in addition, Tianjin Lugang, Hangzhou Yibang and Fuxiang chemical styrene butadiene rubber plant continued to stop.

Cis-1,4-polybutadiene rubber: this week, the factory price of high cis-1,4-polybutadiene rubber increased by a narrow range. The operation rate of domestic high cis-1,4-polybutadiene rubber plant continued to rise to around 60.9%, and that of the ChuanHua cis-1,4-polybutadiene rubber plant continued to rise to full load operation after restart. The operation of other mainstream cis-1,4-polybutadiene rubber plants was stable, and the operation rate of the overall high cis-1,4-polybutadiene rubber industry continued to rise compared with the previous cycle. However, in the later period, the operation rate of Maoming cis-1,4-polybutadiene rubber plant was affected by the shutdown

3、 Future forecast

On the positive side, Wanda and Yuhuang raw materials need to be purchased, the overall operating rate of butadiene in China continues to decline, and the operating rate of downstream industries remains relatively high. On the negative side, the tire, automobile and other terminal industries are still weak. Iranian and European ships are expected to arrive in Hong Kong. There is abundant supply in circulation, high price transactions are not smooth, and some suppliers in the north have accumulated inventory. Butadiene analysts of the business agency predict that the domestic butadiene market will be weak next week, and there is no lack of expectation for a small decline in prices. It is suggested to pay attention to the latest prices and transaction guidelines of the internal and external market.

1、 Price trend of epichlorohydrin:

(Figure: P value curve of epichlorohydrin product)

2、 Market analysis:

Product: according to the monitoring data of the business agency, the market of epichlorohydrin has increased recently. As of May 12, the average price quoted by epichlorohydrin enterprises was 10300 yuan / ton, up 4.04% compared with May 6 and 14.02% compared with April 1. In recent years, the price of raw material propylene has been rising continuously, the cost support has been strengthened, the spot supply has been relatively tight, the supply of low-cost goods in the market has been reduced, the price of the buyer has been firm, the news of Jiangsu Haixing plant has been heard, and the downstream buyer is cautious in operation, with strong wait-and-see mood. At present, the market price of epichlorohydrin is 9800-11000 yuan / ton.

On May 11, the epichlorohydrin commodity index was 70.86, unchanged from yesterday, down 47.00% from 133.71 (2019-10-29), the highest point in the cycle, and up 51.25% from 46.85, the lowest point on September 7, 2016. (Note: cycle refers to 2011-09-01 to now)

Industrial chain: on May 11, the market price of propylene in Shandong continued to rise. Last month, the price of propylene in Shandong Province rose sharply and fell sharply, and then it held steady again, and the market was stable. During the May 1st period, the price of propylene slightly increased by about 50 yuan / ton. On the 6th, the price increased by 100 yuan / ton again. On the 7th, 8th and 9th, the price increased by 50 yuan / ton continuously. On the 10th, some enterprises continued to increase by 50 yuan / ton. On the 11th, the price increased by 50 yuan / ton. On the 11th, the market transaction was between 6250-6400 yuan / ton, and the mainstream price was between 6250-6300 yuan / ton. On November 11, the market price of epoxy resin in the downstream rose, and the focus of market negotiation rose with the support of production cost.

Industry: according to the price monitoring of the business agency, there are 26 kinds of commodities in the rise and fall list of bulk commodity prices on May 11, 2020, among which there are 5 kinds of commodities with an increase rate of more than 5%, accounting for 5.6% of the number of commodities monitored in this sector; the top 3 commodities with an increase rate are TDI (10.33%), propionic acid (7.66%) and polymerized MDI (5.78%). There are 13 kinds of commodities falling on a month on month basis, with 2 kinds of commodities falling by more than 5%, accounting for 2.2% of the number of commodities monitored in this sector; the top three products falling are propane (- 5.71%), sulfuric acid (- 5.60%), monoammonium phosphate (- 4.37%). The average price of this day is 0.42%.

3、 Future forecast:

According to the epichlorohydrin analysts of the business club, it is expected that the epichlorohydrin market will consolidate and wait for operation in the short term, and the specific trend needs to pay more attention to the guidance of market news.

1、 Price trend chart of nitric acid Market

Nitric acid price curve

According to the monitoring of business agency, the average price of nitric acid in East China this weekend was 1433 yuan / ton, while the average price at the beginning of the week was 1466 yuan / ton, down 2.27%.

2、 Market analysis

Products: the price of concentrated nitric acid is weak, the quotation of Jiangsu Hongze Yinzhu Chemical Co., Ltd. is 1250-1300 yuan / ton, which is 50 yuan / ton lower than that before the festival; the quotation of Wenshui Synthetic Chemical Co., Ltd. is 1580 yuan / ton, which is the same as that before the festival; the quotation of Shandong helitai Chemical Co., Ltd. is 1700 yuan / ton, which is the same as that before the festival; the quotation of Shaanxi Xinghua is 1500 yuan / ton. The demand of nitric acid market is light.

Industry chain: upstream liquid ammonia, this week’s market is temporarily stable; downstream aniline, during the festival, the price of aniline has been reduced, 200 yuan / ton in Shandong and 200 yuan / ton in East China. The price of aniline in Shandong is 4600-4690 yuan / ton, while that in East China is 4600-4820 yuan / ton, down 4.17% from last week.

3、 Future forecast

To sum up, the nitric acid analysts of the business association predict that the price of nitric acid may be subject to shock adjustment.

1、 Price trend

According to the monitoring of bulk data from the business agency, the price of R134a in China fell this week. As of the end of the week, the price was 21666.67 yuan / ton, down 2.99% compared with 22333.33 yuan / ton at the beginning of the month, down 26.14% compared with the same period last year. On May 8, the R134a commodity index was 79.27, the same as yesterday, a new low in the cycle, down 20.73% from the peak of 100.00 on September 2, 2019. (Note: cycle refers to 2019-09-01 till now)

2、 Market analysis

Products: the domestic refrigerant R134a market demand is low, the automotive industry level air-conditioning after-sales industry demand is weak, at the same time, the export has not recovered, the production enterprises start stable, the market supply is stable, the manufacturers forced by the shipping pressure, the phenomenon of profit delivery is obvious, but there are limits to the transaction in the field, the market is poor. According to the price monitoring of the business agency, as of May 9, the price of refrigerant R134a was mostly concentrated around 18500 yuan / ton, 1-24000 yuan / ton, and the actual price was relatively low.

Industrial chain: on May 9, the mainstream price of domestic anhydrous hydrofluoric acid manufacturers was 7600-8500 yuan / ton. The factory price of some manufacturers in the field fell, the operation rate of domestic hydrofluoric acid manufacturers was average, the supply of goods in the field was sufficient, and the market price in the field continued to fall. The price trend of upstream product anhydrous hydrofluoric acid continued to decline, and the supply of spot goods was sufficient, but the demand situation did not improve significantly, and the price trend of hydrofluoric acid declined.

Industry: according to the price monitoring of the business association, in the 18th week of 2020 (5.4-5.8), there are 37 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector, including 17 kinds of commodities with an increase of more than 5%, accounting for 19.1% of the number of commodities monitored in the sector; the top three commodities are trichloromethane (17.86%), crude benzene (14.59%) and phenol (11.04%). There are 29 kinds of commodities falling on a month on month basis, 8 kinds of commodities falling by more than 5%, accounting for 9% of the number of commodities monitored in the sector; the top 3 products falling are R22 (- 10.10%), isopropanol (- 8.93%) and fluorite (- 6.83%). This week’s average was 0.97%.

3、 Future forecast

According to the refrigerant analyst of business club, at present, the price of refrigerant R134a is declining, the terminal demand is sluggish, the export is not smooth, and the supporting force of raw material end is weakened, and the market is expected to still have the risk of falling in the short term.

1、 Price trend

Pure benzene continued to decline this week, according to data from the business club’s large list. On April 26, the listing price of pure benzene was 3000-3500 yuan / ton (average price 3170 yuan / ton), and on May 3, the listing price of pure benzene was 2750-3400 yuan / ton (average price 2960 yuan / ton), down 6.62% from last week.

2、 Analysis and comment

1. Products: on Tuesday, the listing price of Sinopec’s pure benzene was reduced by 250 yuan / ton to 2800 yuan / ton. The port inventory of pure benzene decreased slightly compared with last week. At the beginning of the week, the price of pure benzene continued to decline due to the weakness of crude oil and external market.

3. Outside: on April 30, South Korea imported 323.67 US dollars / ton of pure benzene, down 8 US dollars / ton, down 2.41% compared with April 24; East China imported 341 US dollars / ton of pure benzene, flat compared with April 14. In April, the import of pure benzene from South Korea rose by 58.67 USD / ton, or 22.14%; the import of pure benzene from East China rose by 38 USD / ton, or 12.54%.

3. Crude oil: many countries have gradually relaxed the blockade measures, and the recovery of crude oil demand is expected to be positive. Brent was up $3.35/barrel, or 20.92%, this week from April 24, while WTI was up $5.35/barrel, or 31.58%.

4. Downstream industry: the price of styrene rose this week, and the price in Shandong Province was 5100 yuan / ton on Friday, 2% higher than last week.

Before this week’s festival, the purchase of aniline was general, and the price reduction promoted the shipment. On Friday, the price in Shandong is 4800 yuan / ton, and in Nanjing is 4800 yuan / ton.

3、 Future forecast

In May, crude oil demand may gradually recover as oil production is reduced and the blockade measures are relaxed in many countries. For the external market and domestic pure benzene market to bring good support.