On April 28, the crude benzene industrial chain index was 149.06, down 1.18 points from yesterday, down 8.83% from the highest point 163.49 in the cycle (2021-09-22), and up 211.58% from the lowest point 47.84 on November 2, 2015. (Note: the period refers to the period from December 1, 2011 to now).

In April 2022, the crude benzene market fluctuated as a whole. The domestic ex factory price of crude benzene was 6715 yuan / ton at the beginning of the month and 6673 yuan / ton at the end of the month, with a monthly drop of 1.16%.

Summary of price adjustment of Sinopec pure benzene (unit: yuan / ton)

Date, Adjusted price, Adjustment amount

March 24, 8600.,+200

April 12, 8450.,-150

April 27, 8550.,+100

April 28, 8700.,+150

On April 28, 2022, the listing price of Sinopec pure benzene was increased by 150 yuan / ton and 8700 yuan / ton.

Other enterprises: HSBC Petrochemical offers 8750 yuan / ton, Jincheng Petrochemical offers 8450 yuan / ton, Weilian chemical offers 8523 yuan / ton, Xinhai Petrochemical offers 8550 yuan / ton, and Hongrun Petrochemical offers 8550 yuan / ton.

Crude oil: on April 28, the price of international crude oil futures closed up, with an obvious increase. The settlement price of the main contract of WTI crude oil futures in the United States was US $105.36/barrel, up US $3.34 or 3.3%; The settlement price of the main contract of Brent crude oil futures was US $107.26/barrel, up US $2.31 or 2.2%. The main reason was that there were rumors in the market that Germany joined the ranks of other EU Member States and the possibility of imposing an embargo on Russian oil increased, which exacerbated the market’s concerns about the expectation of tightening supply in the future.

Oil prices rose for three consecutive times this week. According to the monitoring of business news agency, WTI rose by 6.92% and Brent crude oil rose by 4.99%. Earlier, the US Energy Information Administration (EIA) report released on Wednesday showed that the growth of US commercial crude oil inventories was lower than expected. In addition, investors weighed the impact of the epidemic situation and anti epidemic blockade measures in some Asian countries and regions on the prospects of economic growth and energy demand, as well as the expectation of tightening energy supply caused by the Russian Ukrainian war. On the 28th, there were rumors in the market that Germany joined the ranks of other EU Member States to impose an embargo on Russian oil, which exacerbated the market’s concern about the expectation of tightening supply in the future.

The crude benzene market fluctuated this month. At the beginning of the month, the price fluctuated slightly between 6660-6800, and at the end of the month, the price rose first and then fell. In the first half of the month, affected by the wide-ranging fluctuation of crude oil, the focus of the domestic pure benzene Market weakened. In addition, in the same period, the domestic logistics in many places was greatly affected, and the regional price difference of domestic pure benzene was also obvious. The mainstream quotation range was 8300-8650 yuan / ton. In the first week after the festival, the bidding price of crude benzene was issued, and 7015-7020 yuan / ton was implemented in Shandong, up 75 yuan / ton from last week’s bidding price. After the middle of the year, the crude oil fluctuated significantly, and the commodity guidance became more and more unclear. Pure benzene was less affected by crude oil, mainly following the demand fluctuation. With the increase of bargain hunting in the downstream, the transaction volume of pure benzene market increased, the price rebounded slightly, and the transaction volume of pure benzene improved compared with the previous period. Local refining prices continued to rise, and the price difference with Sinopec narrowed. The mainstream price of domestic pure benzene was 8400-8550 yuan / ton, and the regional price difference narrowed. In terms of crude benzene, boosted by the industrial chain, the bidding price in Shandong was raised to 7160-7165 yuan / ton, with a slight increase of 240 yuan / ton. At the end of the month, due to the high cost pressure of downstream hydrobenzene enterprises, the arrival price of crude benzene in Shandong is generally high, so there is a strong resistance to high price crude benzene. In addition, the prices of downstream toluene and other commodities are lower, and the enterprise profit is limited. Therefore, the bidding price of crude benzene is reduced slightly at the end of the month, and 6930-6935 yuan / ton is implemented in Shandong, which is reduced again.

In terms of start-up: the start-up of coking enterprises in this month is generally low at the beginning of this month, which is mainly affected by the difficulty of upstream coking coal procurement. At the end of the month, the transportation of coking coal in the main production areas resumed, and the overall operating rate rebounded significantly.

In the future, the business agency believes that at present, pure benzene is obviously affected by the fluctuation of crude oil trend, and the downstream purchase intention has rebounded to a certain extent. Superimposed on the demand for replenishment before the festival, the price of pure benzene has risen recently, which is supported by good fundamentals. If crude oil continues to rise or support the industrial chain to rise, it still depends on the actual demand and profit of the downstream. It is expected that the crude benzene market will be dominated by strong operation. The follow-up will focus on the price trend of crude oil and external market, and the impact of domestic logistics and transportation on the industrial chain.

In April, the price of orthobenzene fell continuously

According to the price trend chart of o-xylene in business society, the price of o-xylene fell sharply twice in April, and the price of o-xylene fell by 800 yuan / ton in April. The decline was 8.89%. On April 29, the price of o-benzene was 8200 yuan / ton. In April, the demand for orthobenzene was weak, and the orthobenzene market fell sharply.

Mixed xylene prices fluctuated and fell in April

According to the trend chart of mixed xylene in business society, the price of mixed xylene fluctuated and adjusted in April, and the overall mixed xylene market fell. As of April 29, the price of mixed xylene was 7330 yuan / ton, down 6.74% from 7860 yuan / ton on April 1 at the beginning of the month. In April, the price of mixed xylene fell, the cost of o-xylene fell, and the downward pressure of o-xylene increased.

Downstream phthalic anhydride prices continued to fall

As can be seen from the price trend chart of phthalic anhydride in business society, the price of phthalic anhydride continued to decline in April. As of April 29, the price of phthalic anhydride was 8137.50 yuan / ton, down 6.87% from 8737.50 yuan / ton on April 1 at the beginning of the month. In April, the price of phthalic anhydride fell, the demand for o-xylene was weak, and the pressure of o-xylene decline was great.

Outlook

Analysts of o-xylene data of business society believe that the price of mixed xylene fell in April and the raw material cost of o-xylene fell; The price of downstream phthalic anhydride fell, the demand for o-benzene was weak, and the pressure of o-benzene decline increased. In general, the cost of orthobenzene decreased, the demand was weak, and the price of orthobenzene fell sharply. In the future, the crude oil price remains high, the decline space of ortho xylene raw materials is limited, the resumption of work and production is less than expected, and the downstream demand is weak. It is expected that the price of ortho xylene will fluctuate and decline slightly in the future.

According to the monitoring data of business agency, the price trend of TDI in East China decreased slightly this week. As of April 29, the average market price in East China was 17775 yuan / ton, a decrease of 3.27% during the week and 10.11% month on month compared with 18375 yuan / ton at the end of last week.

During the week, the TDI market was weak. Affected by public health events, the on-site logistics and transportation were blocked, most of the terminal industries were depressed, there were few foreign trade export orders, the market demand continued to be weak, the enthusiasm for goods preparation before May Day was not high, the goods holders offered profits for shipment, the offer was lowered, the on-site trading atmosphere was still flat, and the TDI market was in a stalemate. As of the 29th, the quotation range of domestic goods in the distribution market in East China is about 17000-17200 yuan / ton, and the quotation range of Shanghai goods is 17500-17600 yuan / ton, mainly based on actual order negotiation. The dealer’s quotation will rise with the market news, and will be sorted down within the week.

The upstream toluene market was sorted upward, and the price rose first and then fell during the week. As of April 29, the average domestic price of toluene was about 7310 yuan / ton, up 0.27% from the price at the end of last week. At the beginning of the week, the international crude oil was under pressure, but the gasoline price in Shandong rose, which gave good support to the toluene Market. However, in the later stage, the downstream demand was weak, coupled with logistics restrictions, the methanol quotation was reduced, and the domestic toluene market fluctuated as a whole.

According to the analysis of TDI data division of business society, at present, the downstream demand of domestic TDI market is weak, the terminal purchase is just needed, there is no pressure on the supplier’s inventory for the time being, and the goods holders sell goods at a profit. However, due to logistics restrictions, the market trading progress is slow, and the on-site operators have a strong wait-and-see mentality. It is expected that the short-term TDI market will wait and see the consolidation and operation, and the future market trend will pay attention to the downstream follow-up.

According to the bulk list data of business society, as of April 28, the average quotation price of epichlorohydrin enterprises was 18400.00 yuan / ton, down 2.99% compared with the price on April 1, up 0.91% year-on-year in a three-month cycle, and up 20.26% compared with the same period last year.

In April, the epichlorohydrin market fluctuated and fell. In the first half of the month, the price of raw material propylene was mainly rising, the price of raw material glycerol was high, and there was some support on the cost side. The large factories in East China stopped, and the manufacturers had no inventory pressure. The market pushed up, but the actual gas buying in the downstream was general. In the second half of the month, the cost impact of propylene method was limited, the cost support of glycerol method still existed, the demand side restricted the market, the manufacturer’s inventory was not depressed, and the market rose, but the downstream demand did not improve significantly. The operating load of downstream epoxy resin was low, the shipment of goods holders was not smooth, and the epichlorohydrin market fluctuated and declined.

For upstream propylene, on April 27, the reference price of propylene was 8414.60, an increase of 2.61% compared with April 1 (8200.80). Manufacturers mainly ship, and downstream just need to purchase.

Downstream epoxy resin, according to the monitoring data of business society, on April 27, the reference price of epoxy resin was 25450.00, a decrease of 1.64% compared with April 1 (25875.00).

The epichlorohydrin analyst of business agency believes that at present, the raw material propylene is consolidated and operated, the price of glycerol is mainly stable, the cost support is OK, the downstream pre Festival procurement enthusiasm is general, the market atmosphere is quiet and cautious. It is expected that the epichlorohydrin market may be stable in the short term, and more attention should be paid to the guidance of market news.

1、 Price trend

According to commodity data monitoring, the price of titanium dioxide decreased slightly this month. At the beginning of the month, the average price of domestic titanium dioxide was 21100 yuan / ton, and at the end of the month, the average price was 21033.33 yuan / ton. The price decreased slightly within the month, with a range of 0.32%.

2、 Market analysis

The titanium dioxide market was basically stable this month, with a slight decrease. The trading situation in the domestic market is general and the market confidence is insufficient. Traders are more cautious in taking goods and wait-and-see. The downstream just needs to purchase, and the price remains stable. The actual transaction price is subject to single negotiation. Up to now, the factory quotation including tax of domestic rutile titanium dioxide is 20200-22000 yuan / ton; The ex factory quotation of anatase titanium dioxide including tax is between 18000-19500 yuan / ton.

In terms of titanium concentrate, the price of titanium concentrate in Panxi area decreased this month. At the beginning of the month, the average price of domestic 46 grade 10 titanium concentrate was 2390 yuan / ton, and at the end of the month, the average price was 2280 yuan / ton. The price decreased within the month by 4.60%. Titanium ore market is light, and the downstream market demand is poor. Purchase on demand. Up to now, the tax free quotation of 38 grade titanium ore is about 1550 yuan / ton, that of 46 grade 10 titanium ore is about 2260-2300 yuan / ton, and that of 47 grade 20 ore is about 2450-2550 yuan / ton. On the whole, the titanium ore market operates weakly and stably, the market is more wait-and-see, and the actual transaction price is discussed.

In terms of sulfuric acid, according to the bulk list data of business society, the domestic sulfuric acid market rose first and then fell this month. At the beginning of the month, the average price of domestic titanium dioxide was 1133.33 yuan / ton, and the average price at the end of the month was 1168.33 yuan / ton. On the whole, the price rose more or fell less during the month, with an increase of 3.09%. The upstream sulfur market has increased slightly recently, with good cost support. Some sulfuric acid manufacturers have insufficient operation and reduced load. The downstream hydrofluoric acid, titanium dioxide and ammonium sulfate Market have been consolidated at a high level, and the downstream procurement enthusiasm is good.

3、 Future forecast

Titanium dioxide analysts of business society believe that the market price of titanium ore is reduced, the price of sulfuric acid rises first and then falls, and the cost support is weakened. It is expected that the market price of titanium dioxide will be stable in the short term, and the actual transaction price will be negotiated.

According to the bulk commodity list data of business society, the overall formaldehyde Market in Shandong showed a downward trend in March. At the beginning of the month, the average price of formaldehyde in Shandong was 1447.50 yuan / ton, and at the end of the month, the average price of formaldehyde in Shandong was 1403.33 yuan / ton, down 3.50%, and the current price increased by 2.93% year-on-year.

formaldehyde

In April, the market price of formaldehyde in Shandong fluctuated downward. As can be seen from the above figure, formaldehyde fell for three weeks in April and only rose for one week, with a large overall decline. As of April 26, the mainstream market price in Shandong is 1350-1430 yuan / ton. In April, static management was implemented in some areas of Lanshan District, Linyi. The market supply was controlled by transportation, the circulation was not smooth, and the inventory in the factory was high. The manufacturers in Shandong Province recently adjusted the price and shipped, and the market showed a fluctuating and downward trend.

As of April 26, the market price summary of formaldehyde in various regions:

Region, Price

East China, 1490 yuan / ton

Central China, 1360 yuan / ton

Northwest China, 1350 yuan / ton

North China, 1360 yuan / ton

Upstream methanol: the domestic methanol market mainly fell in April. The market atmosphere is slightly deadlocked. Traders buy gas in general. In terms of spot goods, the production cost of methanol is weakened, the supply is relatively abundant, there is no significant change in the demand side, and the downstream just needs to purchase before May Day. Transportation is still limited in some areas. Methanol market may continue to decline weakly. Unable to support the cost of formaldehyde.

In April, the fluctuation of formaldehyde market was mainly affected by the methanol market, which fluctuated and fell. The transportation of finished materials in the downstream board factory was limited by public safety events, the inventory in the factory was high, the board factory had the intention of shutdown and vacation, the demand of formaldehyde factory continued to be weak, and the market fluctuated and fell.

Recently, the domestic methanol market is weak and the cost support is poor. Therefore, the formaldehyde analyst of the chemical branch of the business society expects that the recent formaldehyde price in Shandong will mainly fall slightly.

1、 Price data

As of April 24, the mainstream ex factory average price of domestic ground refined hydrogenated naphtha was 8323.33 yuan / ton, up 3.39% from 8050.75 yuan / ton on April 18. The actual transaction price of ground refined hydrogenated naphtha was about 8300-8400 yuan / ton.

As of April 24, the mainstream ex factory average price of domestic ground refined straight run naphtha was 8242.50 yuan / ton, up 4.24% from 7907.50 yuan / ton on April 18. The actual transaction price of ground refined straight run naphtha was about 8200-8300 yuan / ton.

On April 24, the naphtha commodity index was 102.73, up 0.9 points from yesterday, down 15.55% from the highest point 121.64 in the cycle (2022-03-10), and up 143.21% from the lowest point 42.24 on July 19, 2016. (Note: the period refers to the period from September 1, 2012 to now)

2、 Analysis of influencing factors

This week, the price of refined naphtha continued to rise, the naphtha market was well traded, refineries actively pushed up, the demand for terminal olefins and reforming increased, and some enterprises began to stock up before the festival.

Upstream: the international crude oil price fluctuates, the market is intertwined, the global economic recovery slows down, the Fed’s interest rate hike is expected to heat up, and the domestic epidemic depresses demand, and the oil price is under pressure. On the other hand, the EU is considering imposing an oil ban on Russia, tightening supply expectations, limiting the decline in oil prices, and the recent crude oil price range has fluctuated.

Downstream: according to the monitoring of the business agency, toluene continued to rise this week. The price of toluene was 7150 yuan / ton on April 15 and 7360 yuan / ton on April 22, up 2.94% from last week. Mixed xylene rose continuously this week. The price was 7140 yuan / ton on April 15 and 7420 yuan / ton on April 22, up 3.92% from last week. In the PX market, the market price trend of p-xylene was temporarily stable this week. As of the weekend, the ex factory price of domestic p-xylene was 9300 yuan / ton, up 45.31% year-on-year.

3、 Future forecast

According to the energy analysts of business society, the naphtha market was well traded this week, refineries actively pushed up, and the demand for terminal olefins and reforming increased. Some enterprises began to prepare goods before the festival, but the overall demand is general. It is expected that the refining of naphtha in the near future may be dominated by consolidation.

DBP prices rose first and then fell this week

According to the data monitoring of business agency, DBP prices rose first and then fell this week, and the overall DBP market fell. As of April 24, the price of DBP was 10116.67 yuan / ton, down 0.33% from 10150.00 yuan / ton on April 17 last weekend. The price of DBP fell this week and the plasticizer Market weakened.

The price of butanol fluctuated and rose this week

According to the price monitoring of business society, the price of n-butanol fluctuated and rose this week, and the market of n-butanol rose. On April 24, the price of n-butanol was 9633.33 yuan / ton, up 3.96% from 9266.67 yuan / ton on April 17 last weekend. This week, the price of n-butanol in Shandong fluctuated and rose, the cost of DBP rose, the downward pressure of DBP weakened, and the upward momentum increased.

The price of phthalic anhydride fluctuated and fell this week

According to the price monitoring of business society, the price of phthalic anhydride fluctuated and fell this week. The price of phthalic anhydride on April 22 was 8237.50 yuan / ton, down 2.66% from 8462.50 yuan / ton on April 15 last weekend. This week, the price of phthalic anhydride continued to decline in early April, the downstream plasticizer manufacturers started to adjust at a low level, the demand for phthalic anhydride was insufficient, and the price of phthalic anhydride fell. The cost of DBP raw materials decreased, the cost support of DBP weakened, and the downward pressure of DBP remained.

Future expectations

DBP data analysts of business agency believe that the plasticizer industry chain has started to operate at a low level recently, the supply and demand of plasticizer market are weak, the price of raw material n-butanol fluctuates and rises, the price of phthalic anhydride fluctuates and falls slightly, the price of raw materials stabilizes, the cost of plasticizer DBP rises first and then falls, and the price of DBP rises first and then falls. Generally speaking, the supply and demand of DBP industrial chain are both weak, and the cost of DBP is stabilizing. It is expected that the price of DBP will fluctuate slightly in the future.

From April 14 to April 21, 2022, the market price of antimony ingots in East China decreased, from 83750 yuan / ton last weekend to 83250 yuan / ton this weekend, down 500 yuan / ton, down 0.60%.

The K-bar chart of commodity price uses the concept of K-line of price trend to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investment according to the changes of K-bar chart. Red means: rising; Green means: falling; The height of K column indicates the range of rise and fall. As shown in the figure above, the price of antimony ingots continued to rise after the Spring Festival, and the rise trend stabilized in the later stage. It remained temporarily stable for nearly three weeks and began to decline this week.

This week, after three weeks of stable trend, the antimony ingot market fell under pressure this week. Since last week, weak market trading has occurred in areas with poor transportation in China, and traders’ enthusiasm for shipment has increased. The problem of poor transportation still exists this week, and it is difficult to effectively alleviate it in a short time. Affected by the production reduction in some areas in the downstream, the commencement is limited, the demand slows down, and the purchase on demand. Under the current situation of weak supply and demand, it is expected that the price of antimony ingot will remain high in the future.

Relevant information:

The follow-up treatment of abnormal antimony concentration in Danjiang has achieved stable results: according to the county and district governance and municipal monthly scheduling mechanism, on-site supervision is carried out on the follow-up treatment of abnormal antimony concentration in water gushing from caiwahe antimony mine in Danfeng County, wangshanggou River Basin antimony mine in Shangzhou District and Luoyugou mine in Shanyang County and the implementation of emergency disposal measures every month. Assign special personnel to be responsible for scheduling and statistics of personnel on duty, facility operation, reagent dosage and other information every day. From January to March 2022, more than 1280 person times were dispatched in the three counties and districts involving antimony, more than 1720 tons of chemicals were added, 127 times of sampling and monitoring were carried out, and the monitoring results were stable within the normal range. Through the follow-up normalized supervision and inspection, we have a comprehensive grasp of the treatment of abnormal antimony concentration in Danjiang, so as to ensure the effectiveness of the treatment and ensure the “sustainable northward movement of Yihong clean water”.

Lengshuijiang: strive to do a good job in “antimony industry development” and “environmental remediation”: on the 19th, our city held a scheduling meeting for the high-quality development of antimony industry. Yang Weilong, chairman of Municipal Association, stressed that all relevant functional departments should strengthen their responsibilities, act actively, and strive to do a good job in “antimony industry development” and “environmental remediation”. At the meeting, the relevant person in charge of the Municipal Bureau of science, industry and information technology reported on the development of antimony industry in our city. In December 2020, our city organized antimony smelting enterprises to sign a cooperation agreement with tin mine antimony products trading Co., Ltd. Since the signing of the agreement, the price of antimony products has increased significantly, from 35000 yuan per ton to more than 70000 yuan, and the current price remains at about 82000 yuan. From 2019 to 2021, the warehousing tax of antimony industry will achieve “three consecutive increases”. The participating units repeatedly demonstrated the difficulties and blocking points in promoting the high-quality development of antimony industry, and the on-site discussion was very enthusiastic. Yang Weilong stressed that all relevant departments should further strengthen their responsibilities based on their own functions, actively act, accelerate the approval of projects and land, and actively strive for project funds; The head of the unit shall rely on the front command and issue relevant preferential policies as soon as possible in accordance with laws and regulations; We should quickly set up special classes and groups, further sort out the key work, clarify the list of responsibilities, and ensure that the tasks are completed according to the time node; We should come up with practical opinions and plans, scientifically, reasonably and effectively promote the establishment of tin mine nonferrous Industrial Park, drive the further development of antimony deep processing industry, improve the voice and pricing power of antimony products, and strive to do a good job in the two articles of “antimony industry development” and “environmental remediation”.

The first large-scale mining project in Tajikistan has been put into operation: Recently, the Kangqiao Qi antimony gold mine project of China Tajikistan joint venture – Tajikistan aluminum and gold industry has been completed and put into operation. It is expected that the annual ore processing capacity will be 1.5 million tons, with an annual output of 16000 metal tons of antimony and 2.2 metal tons of gold ingots. At present, the controllable antimony resources of Huayu mining industry have reached 434600 metal tons, and the annual output of antimony ore is about 21000 tons, accounting for nearly 15% of the global supply.

According to the monitoring data of business agency, as of April 20, the average ex factory price of n-butanol in Shandong was 9633 yuan / ton. Compared with the price on April 15 (the reference average price of n-butanol was 9266 yuan / ton), the average price increased by 367 yuan / ton, or 3.96%.

It can be seen from the data monitoring chart of business agency that this week, the domestic n-butanol market in Shandong ushered in a rising operation. On the 18th of the week, some n-butanol factories in Shandong raised the ex factory price of n-butanol by about 200-400 yuan / ton. The ex factory price of n-butanol in Shandong was around 9400-9600 yuan / ton. On the 19th and 20th, the domestic n-butanol market in Shandong continued to rise steadily, and the trading atmosphere of n-butanol improved, The downstream ushered in phased stock, and the low-end price was well traded. As of the 20th, the ex factory price of n-butanol in Shandong Province was around 9600-9700 yuan / ton, and the price increased by 200-500 yuan / ton this weekend, an increase of 3.96%. At present, the inventory of n-butanol in the plant has been reduced, the supply pressure of the factory has been relieved, and the quotation is mainly firm.

In terms of upstream propylene, in this week, the domestic propylene market in Shandong was running upward. According to the data monitoring of business agency, the reference price of propylene in Shandong was 8471 yuan / ton on April 19, up 3.29% compared with April 1 (8200 yuan / ton). According to the analysis of propylene supply and demand, the price of crude oil fluctuated and rose, especially the price rose sharply again at the weekend, with strong cost support. In terms of bad news, the downstream demand follows up slowly, mainly just demand. Recently, affected by the epidemic, the traffic in some areas is not smooth, and the factory operating rate is reduced.

Future analysis of n-butanol

At present, some n-butanol units in Shandong are shut down, and the limited factors of logistics and transportation still affect the supply and demand circulation of n-butanol in the field. After a short period of goods preparation in the downstream, the demand is mainly on the sidelines. The n-butanol data division of business society believes that in the short term, the domestic n-butanol market in Shandong is mainly consolidated and operated in multiple intervals, and the specific trend needs to pay more attention to the changes of supply and demand.