In March, the market for butadiene rubber first rose and then fell, with an overall increase. According to the Commodity Market Analysis System of Business Society, as of March 31, the market price of butadiene rubber in East China was 13610 yuan/ton, an increase of 2.87% from the beginning of the month at 13230 yuan/ton, and a decrease of 2.44% from the high point of 13950 yuan/ton in the cycle.

In March, the market price of butadiene remained high, while the cost center of butadiene rubber remained high; Downstream tire production is at a high level, but there is resistance to high priced sources of goods. The demand for butadiene rubber is supported by the initial rigid demand, but weak in the later stage; Multiple devices have been shut down for maintenance one after another. In March, the overall production of butadiene rubber decreased, and the supply of butadiene rubber tightened compared to the previous period; Driven by comprehensive factors, the factory prices of enterprises first increased and then decreased, and the market situation of butadiene rubber first rose and then fell. As of March 31st, the mainstream price of butadiene rubber market in East China is 13450-13700 yuan/ton.

In March, the domestic production of butadiene rubber gradually decreased from 6.4% at the beginning of the month to around 5.4% at the end of the month, a significant decrease compared to February.

In March, the price of butadiene remained high, and there is still strong support for the cost of butadiene rubber. According to the Commodity Market Analysis System of Shengyishe, as of March 31st, the price of butadiene was 11525 yuan/ton, an increase of 3.88% from 11095 yuan/ton at the beginning of the month.

Demand side: Downstream tire production is temporarily stable, providing certain support for butadiene rubber. It is understood that as of late March, the operating load of semi steel tires in domestic tire enterprises was around 790%; The operating load of all steel tires in tire enterprises in Shandong region is close to 70%; But in the middle of the month, the price of butadiene styrene rubber increased significantly, and downstream consumers resisted the high price, resulting in a slowdown in procurement efforts.

Market forecast: Business Society analysts believe that the price of raw material butadiene is still at a high level, and the cost support for butadiene rubber is strong; While some devices are being shut down and reduced in load, there are still other maintenance plans in the later stage, and the expectation of starting production of butadiene rubber is further reduced; The cost and commencement of production support the market for butadiene rubber. However, the current downstream resistance to the high priced supply of butadiene rubber has slowed down, putting pressure on the butadiene rubber market. Overall, the current butadiene rubber market is expected to maintain a high consolidation level in the short term.

1、 Price trend

According to data monitored by Business Society, as of March 27th, the average price of industrial grade premium cyclohexane in China was 7200 yuan/ton. In March, the price range of cyclohexane was the main trend. In March, the supply side of the cyclohexane market was tight, inventory remained low, production was limited, downstream demand increased, and mainstream cyclohexane factory prices were the main trend.

2、 Market analysis

In March, the domestic cyclohexane market prices were dominated by tight inventory from manufacturers and a positive attitude towards downstream procurement. The overall market transaction atmosphere was still good, with holders holding up prices. In early March, the upstream pure benzene price fluctuated and rose. Due to the continuous increase in crude oil prices, pure benzene prices surged and manufacturers continued to quote higher prices. The negotiation center was operating at a high level, and the increase in upstream raw materials provided positive support for the cost side of cyclohexane. In late March, crude oil prices returned to stability and were weak overall. After digesting the previous gains, upstream raw material prices also fluctuated and decreased. As of March 27th, the domestic pure benzene price was in the stage of consolidation at 8353-8550 yuan/ton.

In terms of supply, the overall market operating rate of cyclohexane remained stable in March, with increasing downstream demand. Due to limited production of cyclohexane, inventory continued to operate at a low level, resulting in tight supply of spot goods and normal consumption of inventory. As a result, the overall market supply was tight.

In terms of cost: In March, upstream pure benzene fluctuated and the overall market showed a downward trend, mainly due to the influence of crude oil prices. In March, pure benzene prices were in a weak consolidation stage. Starting from mid March, crude oil prices rose, and pure benzene had some support on the cost side. Cyclohexane provided strong support on the cost side, and the price continued to rise, showing a strong trend. In late March, crude oil prices returned to stability, and pure benzene prices were in a weak consolidation stage. Cyclohexane prices showed a weak and strong trend.

In terms of demand: Currently, the downstream demand for cyclohexane is relatively optimistic, and downstream chemical fiber enterprises have a positive purchasing atmosphere. The focus of negotiations is on high-level operations, with small orders from contract customers as the main focus, limited new orders, and a stable downstream operating rate. The spot supply is also stable.

3、 Future Market Forecast

Business Society’s cyclohexane analyst believes that the current downstream market procurement atmosphere is positive, with small orders in the solvent market following suit, and upstream cost support being average. The trend is fluctuating and consolidating, and inventory is currently operating at a low level. It is expected that the cyclohexane market will maintain its previous trend in the short term, with mainstream prices ranging from 7200 to 7300 yuan/ton.

Price trend:

According to the Commodity Market Analysis System of Business Society, on March 1st, the domestic price of chloroacetic acid was 3175 yuan/ton. As of March 26th, the price of chloroacetic acid was 3100 yuan/ton, a decrease of 2.36% from the beginning of the month. The market is showing a fluctuating downward trend.

Cost side situation:

The recent decline in the chloroacetic acid market has been affected by the decline in raw material prices, leading to weakened cost support from manufacturers and an increase in low-priced offers.

Regarding acetic acid:

On March 1st, the domestic price of acetic acid was 3100 yuan/ton. As of March 26th, the price of acetic acid was 3002 yuan/ton, a decrease of 3.16% from the beginning of the month. The market is showing a consolidation and downward trend.

The consumption of acetic acid in the terminal market is average, and downstream purchasing enthusiasm is weak. Enterprise shipments are limited, and inventory has increased. In order to stimulate downstream entry into the market, factory quotations have been continuously lowered. However, downstream consumption is slow, and demand support is insufficient, resulting in weak acetic acid prices.

Regarding sulfur:

On March 1st, the domestic sulfur price was 1026 yuan/ton. As of March 26th, the price of acetic acid was 1046 yuan/ton, an increase of 1.9% from the beginning of the month. The market is showing a consolidation and upward trend.

The operation of sulfur refining plants in Shandong region is relatively weak, with manufacturer inventory mainly maintaining at a medium to low level. The market supply of goods has decreased, and downstream procurement follows up on demand. The on-site trading atmosphere is good, and enterprise shipments are smooth. Prices are adjusted upwards due to excessive consolidation.

Demand side situation:

In March, the demand for pesticides was relatively strong, with an overall increase in market inquiries and active market trading. Most product prices and inventory are at historically low levels.

Future Market Forecast:

Business Society Chloroacetic Acid Data Analyst believes that the cost support of chloroacetic acid is supported by both negative and positive factors. In addition, with the increase in downstream demand, the chloroacetic acid market is expected to rebound in the current situation, and specific attention needs to be paid to the actual supply and demand situation.

1、 Price trend

Taking the sulfuric acid method rutile type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market price has increased this week. The average price of titanium dioxide last Friday was 16966.67 yuan/ton, and this Friday it was 17083.33 yuan/ton, with a price increase of 0.69%.

2、 Market analysis

This week, the domestic titanium dioxide market prices have increased. After a rise in February, there was new news about titanium dioxide this week, and multiple companies have once again sent letters raising the price of titanium dioxide. The domestic market price has increased by 500 yuan/ton, while the international market price has increased by 80-125 US dollars/ton. The overall confidence in the on-site market is good, with manufacturers having tight inventory and high market prices. As of now, domestic prices for rutile type titanium dioxide are mostly between 16500 and 18300 yuan/ton; The quotation for rutile titanium dioxide is around 15000 yuan/ton. The actual transaction price is negotiable.

In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region has been at a high level this week. At present, titanium ore spot prices are tight, and there is no pressure on enterprise inventory. The downstream procurement situation is still acceptable. As of now, the tax-free quotation for grade 38-42 titanium ore is around 1580-1620 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2300 yuan/ton, and the tax-free quotation for grade 47 20 titanium concentrate is around 2350-2480 yuan/ton. In the short term, the market price of titanium concentrate is mainly strong, and the actual transaction price is negotiable. It is reported that the price of titanium ore in Panxi Dachang may increase by 150 yuan/ton in the second quarter. The specific implementation situation still needs to pay attention to changes in the message surface.

In terms of sulfuric acid, the domestic sulfuric acid market price continues to rise. According to data monitoring from Business Society, the average price of sulfuric acid was 261.25 yuan/ton last Friday, and 291.25 yuan/ton this Friday, with a price increase of 11.84%. The upstream sulfur market has recently seen a slight increase, with good cost support. The downstream titanium dioxide market is relatively strong, and downstream customers have a good enthusiasm for purchasing sulfuric acid.

3、 Future Market Forecast

Business Society Titanium Dioxide Analyst believes that currently, the price of titanium concentrate in the Panxi region is running at a high level, with an increase in sulfuric acid prices and significant cost pressure on titanium dioxide. The new order quotation is firm and upward. It is expected that the titanium dioxide market will be relatively strong in the short term, and the actual transaction price will remain unchanged.

According to the monitoring of the commodity market analysis system of Business Society, industrial grade lithium carbonate and battery grade lithium carbonate remained stable and upward this week. On March 21, 2024, the average domestic mixed price of industrial grade lithium carbonate was 108800 yuan/ton, an increase of 1.3% compared to the average price of 107400 yuan/ton on March 17. On March 21st, the average domestic mixed price of battery grade lithium carbonate was 118000 yuan/ton, an increase of 1.2% compared to the average price of 116600 yuan/ton on March 17th.

By observing market changes, it can be seen that the price increase of lithium carbonate has slowed down and slightly increased this week. In terms of supply, social inventory has slightly increased compared to the previous month, and smelter inventory still accounts for more than half of the total, which puts significant pressure on market supply. The imported lithium carbonate is expected to arrive at the port by the end of March, and there is an expectation of sufficient spot supply, which may have some price suppression. At present, lithium salt enterprises mainly sell long-term orders, and some lithium salt enterprises have increased their wait-and-see sentiment, so the upward trend of lithium carbonate prices has slightly slowed down.

In terms of demand, downstream positive electrode enterprises such as Changxie and Customer Supply are still their main procurement channels, and some inventory has already been purchased in the early stage, which can basically meet the short-term production and usage level in the future. There is generally feedback that the acquisition and transaction of high priced individual orders are relatively weak, and the overall continuation of the rigid demand procurement strategy.

The lithium hydroxide market is on the rise, driven by the upward trend in upstream spodumene concentrate prices and the stronger trend in lithium carbonate prices. The cost support is obvious, and some enterprises on the supply side have relatively low inventory. The downstream demand for high nickel ternary is still acceptable, and the 3C digital market is mainly following steadily. The downstream inquiry atmosphere has increased, but the purchasing mentality is still cautious, and transactions are still mainly long-term contract orders. The focus of market negotiations is strong.

The downstream price of lithium iron phosphate has maintained a stable, medium to strong trend, with strong support from the upstream cost side and increased downstream demand. Lithium iron phosphate is expected to improve in the short term. Currently, the price of mica remains stable, and enterprises have a strong willingness to raise prices. The price of raw material lithium carbonate has been mainly increased, and downstream procurement willingness is relatively strong. Currently, the demand for energy storage lithium iron phosphate batteries is not decreasing, and with the promotion of policies, the overall market transaction focus has shifted upwards.

In terms of futures, on March 21, 2024, the opening price of the LC2407 main contract was 118000 yuan/ton, the closing price was 117350 yuan/ton, and the highest price was 118850 yuan/ton, with a daily increase of 1.34%. There were 223000 transactions and 208023 positions held.

According to analysts from Shengyishe Lithium Carbonate, the current pressure on the supply side of lithium carbonate is gradually becoming apparent. Although the end market has particularly high expectations for downstream consumption of lithium carbonate, the production of positive electrode factories is high, and the high inventory accumulated in the early stage has not yet been digested. Therefore, the market is gradually shifting towards a direction of strong supply and weak demand. It is expected that the short-term spot price of lithium carbonate will remain stable and wait-and-see.

Price trend chart of trichloroethylene

According to the Commodity Market Analysis System of Business Society, the market for trichloroethylene in barrels remained stable this week (3.11-3.15), with an average price of 6560 yuan/ton.

Analysis and Review

The price of trichloroethylene continues to be weak, and the trading atmosphere on the market is light. From the perspective of demand, since the issuance of HFCs refrigerant quotas, the operating rate of the refrigerant industry has been relatively low, and production is mainly scheduled in an orderly manner based on the quotas within the year. R134a just needs follow-up, but the market procurement is relatively passive.

Future Market Forecast

Business Society’s trichloroethylene analyst believes that, combined with the market atmosphere, it is expected that trichloroethylene will continue to be stable in the future.

According to the commodity market analysis system of Shengyishe, the consolidation of the polyaluminum chloride market this week is the main focus. The solid (industrial grade, content ≥ 28%) polyaluminum chloride market in China reported around 1815 yuan/ton on the 18th, which is stable compared to the 11th quotation. The production of water treatment enterprises in China’s main production areas has basically returned to normal, with sufficient market inventory. Downstream procurement is based on demand, and the price of raw material hydrochloric acid has significantly decreased. The market for polyaluminum chloride has also stabilized.

Raw material hydrochloric acid: According to the commodity market analysis system of Business Society, the domestic hydrochloric acid market price has dropped significantly this week, and as of March 18th, the domestic hydrochloric acid market price is 92.50 yuan/ton. The upstream liquid chlorine market is consolidating at a high level, with average cost support. The downstream polyaluminum chloride market is consolidating, and downstream purchasing willingness is weakening.

Liquefied natural gas for production. According to the Commodity Market Analysis System of Business Society, the domestic liquefied natural gas market has declined this week, while the domestic temperature has rebounded. The market demand is limited, and the main focus is on oversupply. Liquid prices have continued to decline from Monday to Thursday, and the market is cautious and wait-and-see. The price increase of imported gas is favorable for the domestic gas market, and the liquid price has stopped falling and risen.

Market forecast: In the near future, raw material prices will fall, fuel liquefied natural gas prices will decline, and the cost of polyaluminum chloride will decline. On the supply side, China’s polyaluminum chloride manufacturers have basically resumed normal production; On the demand side, there has been no significant improvement in purchasing willingness, and stability is the main focus. Analysis suggests that the recent market for polyaluminum chloride may be dominated by consolidation.

1、 Price trend

According to the commodity market analysis system of Business Society, the NMP market has been operating weakly this week. On March 11th, the average price of NMP was 12233 yuan/ton, and on March 15th, the average price of NMP was 12166 yuan/ton, a decrease of 0.54% during the cycle.

2、 Analysis and Review

According to the Commodity Market Analysis System of Business Society, the NMP market did not show significant improvement this week and maintained a stalemate and consolidation operation. As of Friday, the mainstream retail price in the domestic electronic grade NMP market was 11800-12200 yuan/ton. The raw material end BDO market is operating steadily at a low level, and downstream demand is not following up enough, resulting in a market stalemate and consolidation. The demand for NMP in the market is mainly for basic needs, and there is a lack of price support mentality. Some factories have slightly lowered their quotations. Downstream cautious entry into the market, with a strong wait-and-see atmosphere.

As of March 15th, the mainstream prices of NMP bulk water in different regions of China are as follows:

Region/ March 15th

East China region/ 12000-12200 yuan/ton

Central China region/ 11800-12000 yuan/ton

Southwest region/ 11800-12200 yuan/ton

Raw materials: The BDO market fluctuated narrowly. From March 11th to 15th, the average domestic BDO price dropped from 9428 yuan/ton to 9400 yuan/ton, with a 0.30% drop in price during the cycle.

3、 Future Market Forecast

Business Society NMP analysts believe that the current performance of the NMP market is weak, and the market lacks positive signal guidance. It is expected that the market will remain weak in the short term.

According to price monitoring data from Business Society, as of March 14, 2024, the reference price for domestic n-propanol market was 7916 yuan/ton. Compared with March 10, the price remained basically unchanged. Compared with February 1 (reference price for n-propanol is 7950 yuan/ton), the price increased by 34 yuan/ton, an increase of 0.42%.

This week, the domestic propylene glycol market continued to operate steadily and steadily. The overall news of the n-propanol market is relatively calm, with normal transmission of supply and demand on the market. The overall operating rate of n-propanol has not adjusted much, and the stable quotation of n-propanol from Shandong large factories gives market confidence. n-propanol operators and distributors have also remained stable, with downstream purchases of n-propanol continuing to be in demand. As of March 14th, the domestic market price of n-propanol in Shandong region is around 7150-7600 yuan/ton. The market price of n-propanol in the Nanjing area is around 8500-9000 yuan/ton. Dealers in different regions still have reservations about prices, and the difficulty in monitoring prices may lead to differences in specific negotiation situations. Each region also has differences, and actual negotiations are the main focus.

Prediction of future market trends of n-propanol

At present, the trading atmosphere of n-propanol on the market is quiet and mild, and most new orders on the market are newly purchased orders. Business Society’s n-propanol data analyst believes that in the short term, the domestic n-propanol market will mainly operate with large stability and small fluctuations, and the specific trend still needs to pay more attention to changes in supply and demand news.

According to the Commodity Market Analysis System of Business Society, as of March 11th, the average price of epoxy propane for enterprises was 9150.00 yuan/ton, which is unchanged from last Wednesday (March 6th).

The recent market situation of epoxy propane has been stagnant, and the market atmosphere is weak. Recently, the price of raw material propylene has risen first and then fallen, while the price of raw material liquid chlorine has declined, and the cost has weakened in the face of support from the epoxy propane market. On the supply side, there were fluctuations in some devices, and factory shipments were average. Downstream buyers were not very enthusiastic, and they were mainly cautious and cautious in following up on volume reduction. The market atmosphere was flat, and on March 11th, the mainstream quotation in the Shandong epoxy propane market was around 8950-9000 yuan.

Upstream propylene: According to the commodity market analysis system of Business Society, the reference price of propylene on March 11th was 6992.60, an increase of 1.77% compared to March 1st (6870.75), providing moderate support for the epoxy propane market.

The epoxy propane analyst from Business Society believes that the current cost support is limited, and the downstream market is mainly flat and wait-and-see. The epoxy propane market may operate weakly in the short term, and more attention needs to be paid to the impact of cost.