In the opening of the new week, bisphenol a market continued to decline to 18200-18300 yuan / ton, and then today the unified offer of domestic mainstream factories was raised to 18500 yuan / ton. In addition, under the situation of limited supply of goods in the market, the operators had a positive attitude, especially the low offer of high price inventory holders, and the offer followed up. The mainstream offers of on-site carriers were mostly 18500-18600 yuan / ton.

In terms of raw materials, the phenol and acetone markets performed well today. In the morning, the acetone market opened at 9300 yuan / T, while the phenol market continued to push up, with an offer range of 6550-6600 yuan / ton. From the perspective of raw materials, bisphenol A made a lot of profits.

At present, the resistance of the downstream is still serious, but the liquid resin market is still at 30000 yuan / T, and the high market position has strong support for the upstream. The Business Association expects that the short-term operation of bisphenol A will fluctuate.

The offers of bisphenol in various markets in China are as follows:

Regional price rise and fall

East China 18500 200

18500 200 in North China

1、 Price trend:

According to the data of the business club’s bulk list, the domestic PA6 market has fluctuated recently, and the spot price of each brand is up and down. As of November 24, the mainstream offer price of 2.75-2.85 was about 12266.67 yuan / ton, which was 13.58% higher than the average price at the beginning of the month.

2、 Analysis of influencing factors:

Recently, the price of caprolactam in the upstream of PA6 has risen, and some brands are in high level. As of November 24, the average price quoted by caprolactam sample enterprises of the business community was 10400 yuan / ton, an increase of 6.12% compared with the average price at the beginning of the month. The raw material of pure benzene continued to follow styrene last week, with a wide rise first and then a small decline. The overall price of pure benzene was higher than before, which supported the cost of caprolactam. Far upstream international crude oil also rose, benefiting the products of the chemical industry chain. At present, caprolactam inventory continues to be low, but caprolactam operating rate is more than 80%, and the load is high. In addition, the enthusiasm of downstream factories for replenishment has fallen. Although the multiple positive in the market has pushed up the price of caprolactam, there is a trend of weakening upstream and downstream, which may limit the future market growth.

Upstream caprolactam rose narrowed, high finishing. But on the whole, the price is still high, and there is little change in the support of PA6 cost. At present, the market of PA6 is falling, and all brands are generally reduced in a narrow range. The operating rate of downstream nylon filament is acceptable, but the factory has a psychological resistance to high price goods, replenishment operation is cautious, and the demand is weak. Traders have a strong atmosphere of selling goods, mainly to sell profits and take orders, which has impacted the offer of PA6 market.

3、 Future forecast:

Business agency analysts believe: recent domestic PA6 market high callback. The upstream caprolactam narrowed, and the cost end support of PA6 was acceptable. Downstream factories just need to take delivery of goods, and they are in conflict with high price goods, so they generally give in profits. Analysts expect the spot price of PA6 will continue to moderate in the short term.

1、 Melamine price trend

(Figure: P value curve of melamine product)

2、 Market analysis

On November 24, the melamine market remained stable. According to the monitoring sample data of business agency, as of November 24, the average price quoted by melamine enterprises was 7400 yuan / ton, which was flat compared with the previous trading day, and increased by 31.36% compared with October 24. The manufacturers carry out the early orders orderly, the goods are OK, the downstream purchasing enthusiasm is general, and the market is running smoothly.

At present, the mainstream quotation of melamine in Shandong is around 7500 yuan / ton, that in Xinjiang is around 6500 yuan / ton, and that in Sichuan is around 7100 yuan / ton. The quotation is for reference only, and the actual price shall prevail.

Upstream urea, on November 24, Shandong urea market temporarily stable, upstream liquid ammonia recent high consolidation, cost support is good. Domestic demand is fair, agricultural demand in some areas has followed up, and industrial demand follows the market and purchases on demand. In terms of supply, some devices were overhauled and some of them were in short supply.

According to the price monitoring of business agency, on November 23, 2020, there were 22 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector on November 23, 2020, among which there were 4 kinds of commodities with an increase of more than 5%, accounting for 4.3% of the total number of commodities monitored in this plate; the top three commodities were calcium carbide (8.42%), aniline (6.80%) and ethylene glycol (6.42%). There were 12 kinds of commodities that declined on a month on month basis, with styrene (- 3.93%), TDI (- 3.57%) and bisphenol A (- 1.40%). The average rise and fall was 0.46%.

3、 Future forecast

Melamine analysts from the business agency believe that the current upstream urea price is temporarily stable, the cost support is limited, and the downstream purchasing enthusiasm is general. It is expected that in the short term, the melamine market will be stable and wait-and-see arrangement, and the specific trend needs more attention to market information guidance.

As a whole, traders are not eager to make an offer of 6600-6600 tons. They are not eager to make an offer / offer of 6500 tons. They are not optimistic about the opening of the market. In the afternoon, affected by the price reduction of raw material pure benzene, phenol traders discussed a narrow downward trend to 6400 yuan / T, but the supplier still had poor shipment, the market performance was relatively cold, and the trading situation was poor. It is estimated that the phenol market will be negotiated at 6400-6500 yuan / ton tomorrow.

The downstream bisphenol a market was weak. Today, the factory concentrated on increasing to 18500 yuan / ton, and traders offered 18500 yuan / ton in the morning. Although the supply of goods was still limited, the downstream bid was not ideal, and many profits were actively shipped. Although the liquid resin was mainly produced by order, it still had little intention to yield profits in the case of weak dual raw materials. The overall reference of liquid resin market was still 29500-29800 Yuan / ton firm offer.

The quotations of phenol in various markets in China yesterday were as follows:

Regional price rise and fall

East China 6400-6550 0

6600 0 in Shandong Province

The surrounding area of Yanshan

6500 in South China

At the beginning of this week, the morning market offer was firm, followed by 11:00, the sentiment of shippers increased, and the focus began to decline. On the one hand, the import sources have arrived one after another, with a high concentration of sources; on the other hand, just in the settlement period of the contract, the market’s shipping sentiment has increased, and the overall offer is around 9000 yuan / ton; in terms of the downstream delivery, it is at 8800 yuan / ton, and the actual order situation needs to be followed up. However, as the afternoon closed, the willingness of large holders to ship goods was not strong. After the market fell, the market rebounded slightly, and the offer returned to more than 9000-9200 yuan / T. the actual order situation needs to be paid attention to.

As of the end of the previous trading day, the offers of acetone in various markets across the country were as follows:

Region, price, range

East China 9100 – 300

In Shandong Province, 9500

Around Yanshan Mountain

South China 9600 – 200

Price trend of acetone market in East China

According to the price monitoring of business agency, on November 23, 2020, there were 22 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector on November 23, 2020, among which there were 4 kinds of commodities with an increase of more than 5%, accounting for 4.3% of the total number of commodities monitored in this plate; the top three commodities were calcium carbide (8.42%), aniline (6.80%) and ethylene glycol (6.42%). There were 12 kinds of commodities that declined on a month on month basis, with styrene (- 3.93%), TDI (- 3.57%) and bisphenol A (- 1.40%). The average rise and fall was 0.46%.

On November 23, the chemical index was 865 points, up 6 points compared with yesterday, 14.86% lower than 1016 points (2012-03-13), and 44.65% higher than 598 points, the lowest point on April 8, 2020. (Note: period refers to 2011-12-01 to now)

When the market opened in the morning, a small number of traders offered and the price was high at 6400-6500 yuan / ton, and there were few sources of goods in hand. However, several large traders failed to offer their prices in the morning. The overall market showed a warming trend in the morning. In the afternoon, some downstream inquiries made profits for the profit holders to ship goods, but the focus was on the high side. Generally speaking, the mentality of the shipholders was good, and the situation of excessive profit concession shipment under cost pressure was relatively high Less, downstream just need to follow up. The overall cost is 6300-6400 yuan / ton.

The downstream bisphenol a market as a whole is weak. Today’s market offer is 18200-18300 yuan / ton, while the terminal offer is 18000 yuan / ton. Although liquid resin is mainly produced by order, it still has little interest in making profits in the case of weak dual raw materials. The overall reference of liquid resin Market is still at 29500-29800 yuan / T.

The quotations of phenol in various markets in China yesterday were as follows:

Regional price rise and fall

6300-6350 + 100-150 in East China

Shandong Province 6900 0

Offer suspended in the area around Yanshan

6500 100 in South China

Trend chart of phenol average price in national market

According to the price monitoring of business agency, on November 23, 2020, there were 22 kinds of commodities in the list of commodity price rise and fall in the chemical industry sector on November 23, 2020, among which there were 4 kinds of commodities with an increase of more than 5%, accounting for 4.3% of the total number of commodities monitored in this plate; the top three commodities were calcium carbide (8.42%), aniline (6.80%) and ethylene glycol (6.42%). There were 12 kinds of commodities that declined on a month on month basis, with styrene (- 3.93%), TDI (- 3.57%) and bisphenol A (- 1.40%). The average rise and fall was 0.46%.

On November 23, the chemical index was 865 points, up 6 points compared with yesterday, 14.86% lower than 1016 points (2012-03-13), and 44.65% higher than 598 points, the lowest point on April 8, 2020. (Note: period refers to 2011-12-01 to now)

According to the data of business agency, as of November 20, the average price of domestic fuel oil 180CST was 3637.50 yuan / ton (including tax), a slight increase of 1.39% compared with the beginning of the week.

On November 20, the fuel oil commodity index was 73.67, up 1.01 points compared with yesterday, 36.44% lower than 115.91 points (October 17, 2018), and 59.87% higher than 46.08 points, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)

According to the business agency, as of November 20, the self raised low sulfur price of 180 CST fuel oil in Zhoushan, 3700 yuan / ton in 120 CST, 3750 yuan / ton in Shanghai and 3850 yuan / ton in 120 CST.

International crude oil prices rose sharply this week, supporting fuel oil prices. WTI crude oil closed at $41.90/barrel on the 20th, up 4.41% from $40.13/barrel at the beginning of the week, according to business agency monitoring.

Singapore’s fuel oil inventory decreased from the previous week, forming a certain support for fuel oil. It is understood that as of November 18, Singapore’s inventory of residual fuel oil, including fuel oil and low sulfur waxy residual oil, decreased by 1044000 barrels to 22.02million barrels, a nine week low; light distillate stocks including naphtha, gasoline and reformate oil decreased by 918000 barrels to 12.434 million barrels, a three-week low; and medium distillate stocks decreased by 492000 barrels to 16.093 million barrels, a two-week low low point.

Aftermarket forecast: the energy analysts of the business agency believe that the fuel oil 180CST raw material cost increases due to the seasonal impact, which forms a certain support for the fuel oil market. Overall, it is expected that the fuel oil 180CST market will be stable and upward in the short term.

1、 Price data

According to the data of the business club’s bulk list, the price of domestic refiners’ petroleum coke products dropped slightly. At the beginning of the week, the average price of petroleum coke in Shandong market was 1684.00 yuan / ton, and the average price of petroleum coke at weekend was 1653.50 yuan / ton, with the price falling by 1.81% and increasing by 61.16% compared with last year. On November 20, the commodity index of petroleum coke was 128.61, down 1.2 points compared with yesterday, 17.34% lower than 155.59 points (2018-01-25), and 92.27% higher than 66.89 points, the lowest point on March 28, 2016. (Note: period refers to 2012-09-30 to now)

2、 Analysis of influencing factors

The decline in the price of petroleum coke is mainly due to increased supply. The supply of low sulfur coke is less, the demand is stable and the price is rising. Compared with medium and high sulfur coke, the operating rate of coking unit increased, the supply increased, the downstream demand was general, and the price of medium and high sulfur coke decreased.

Upstream: the overseas epidemic situation is still serious, and the international crude oil market demand is not good; however, there are also good news that OPEC will prolong the production reduction, the US shale oil production will decrease, and the development of new crown vaccine will accelerate. The international crude oil price fluctuates upward, with WTI crude oil price increasing by 5.71% and Brent crude oil price increasing by 5.10% weekly.

Downstream: affected by environmental factors in heating season, the carbon market is facing a reduction in production in the near future, and the price rise of electrolytic aluminum in the downstream has supported carbon enterprises. Due to the decrease of production and the increase of furnace shutdown in southern China, the social supply of silicon metal market has gradually decreased, and the price may rise steadily. At present, coal production in China will be limited as the end of the year. However, in the winter heating season, the power plant still needs to replenish the thermal coal, and the short-term steam coal price is still expected to rise.

Industry: according to the price monitoring of business agency, in the 46 th week (11.16-11.20) of 2020, there are 10 kinds of commodities in the energy sector, with WTI crude oil (4.41%), Brent crude oil (3.32%) and MTBE (2.80%). There were 5 kinds of commodities with a decline of more than 5%, accounting for 6.3% of the total number of commodities monitored in this sector; the top three products of decline were liquefied natural gas (- 5.34%), petroleum coke (- 1.81%) and liquefied gas (- 1.80%). This week, all rose or fell 0.41%.

According to the petroleum coke analysts of the business agency, the demand for petroleum coke has been reduced due to the start-up and resumption of production of early-stage inspection and repair plants, the continuous increase of petroleum coke supply, and the influence of downstream environmental protection and other factors. It is comprehensively predicted that the petroleum coke price will maintain a weak stable trend in the short term.

1、 Price trend

According to the price monitoring of the business agency, the domestic spot price of polyester staple fiber decreased slightly this week. As of November 20, the average price of domestic polyester staple fiber spot market was 5738 yuan / ton, down 0.34% compared with November 14, and 17.05% lower than that on November 14. In the futures market, on November 20, the staple short fiber Futures (2105) closed up at 6006, up 50% or 0.84% from last Friday. Crude oil and PTA rebound driven futures rebound, downstream demand fell, spot trend weak.

2、 Factors affecting prices

1. PTA: domestic PTA spot market rebounded slightly this week. At the end of this week, the average price of domestic PTA spot market was 3273 yuan / ton, which was 1.36% higher than last Friday and 30.95% lower than that of last Friday. Crude oil prices rose on news that OPEC may postpone the current production reduction to the first quarter of next year. PTA prices rose in a narrow range driven by the rise of crude oil.

2. Ethylene glycol: the domestic ethylene glycol spot market dropped slightly this week. At the end of this week, the average ex factory price of oil to ethylene glycol in North China was 3634 yuan / ton, down 1.77% and 23.1% compared with last Friday. Supply rebounded due to the addition of domestic units and the restart of maintenance units. At the same time, the downstream chemical fiber market gradually into the off-season, production and sales fall. Ethylene glycol in the experience of a month after the decline of the stock again, the price drop is expected to strengthen.

3. Polyester yarn: the domestic polyester yarn market is running smoothly this week. At the end of this week, the average price of 32S polyester yarn spot market in Jiangsu, Zhejiang and Shanghai was about 13375 yuan / ton, which was the same as last week, with a year-on-year decrease of 7.03%. The yarn Market in Hangzhou, Suzhou and Jiaxing is generally good. Some enterprises lowered their prices and their profit margins were low. The downstream weaving Market is ready for the new year, but the demand is insufficient in the later stage, and polyester yarn is in a weak position.

3、 Future forecast

Business analysts believe that the downstream spinning and weaving Market in the end of the “double 11″ market and the aggravation of the overseas epidemic situation, domestic and foreign orders have decreased, polyester staple fiber spot market is difficult to have a good market in the short term, and the future market may continue to decline in a weak way. It is expected that before the Spring Festival, the polyester industry chain as a whole will remain weak. However, the current crude oil, PTA positive news rebound, short fiber futures short-term or strong oscillation trend.

1、 Price trend

According to the data of the business club’s bulk list, the domestic propylene (Shandong) market price has been rising continuously after stabilizing this week, with the weekly low price of 6892 yuan / ton at the beginning of the week, the weekly high price of 7033 yuan / ton at the weekend, and the weekly increase of 2.04%.

2、 Analysis and comment

According to the price chart of the business agency, since November 1, the propylene price has dropped sharply at the end of October, and has risen by 200-250 yuan / ton on the 5th. After a short period of stabilization, the price dropped slightly by about 100 yuan / ton on August 8 and 9, and then stabilized again. On the 12th, it rose 50 yuan / ton again, and then fluctuated slightly. On the 19th, it showed a trend of full increase, rising by 50-100 yuan / ton, and again today Generally, the price is raised by about 100 yuan / ton, and the current market turnover is between 6980 yuan / ton and 7300 yuan / ton, and the mainstream price is about 7000 yuan / ton. At present, the inventory of the manufacturer is controllable and the shipment situation is ideal.

On November 19, crude oil prices fell slightly, with little impact on propylene.

PP spot price continued to rise this week, with a weekly increase of 3.77%. The futures market was also relatively ideal, which had a positive impact on propylene.

Acrylic acid market rose significantly this week and then stabilized, with a weekly increase of 7.98%, which had a significant positive impact on propylene.

Propylene oxide market continued to rise sharply this week, with a weekly increase of 9.02%, which also had a more obvious positive effect on propylene.

Epichlorohydrin recovered and stabilized after a small drop this week, with a weekly increase of 3.47% and a weekly amplitude of 5.41%, which had a small positive impact on propylene.

This week, the domestic price of n-butanol continued to rise sharply, and the weekly increase was as high as 15.81%, which had a good effect on propylene.

Octanol market rose significantly this week and then stabilized, with a weekly increase of 5.31%, which had a positive impact on propylene.

This week, isopropanol market also continued to rise sharply, with a weekly increase of 18.75%, which also had a good effect on propylene.

This week, phenol in East China still showed a ladder upward trend, with a weekly increase of 6.92%, which had a certain pulling effect on propylene.

This week, East China acetone also continued to rise sharply, with a weekly increase of 16.31%, which also had a more obvious effect on propylene.

3、 Future forecast

The propylene analysts of the chemical branch of the business society think: in a comprehensive view, the inventory of propylene manufacturers is controllable, the crude oil price is slightly up and down, and the downstream market is relatively ideal, and the rising trend is obvious. Therefore, it is expected that the propylene price will continue to rise in the near future.