1、 Price trend

On March 13, the weekly average price of domestic industrial purified water formic acid was 1950 yuan / ton. As of March 13, the weekly average price of domestic industrial barreled formic acid was 2566 yuan / ton. Some formic acid manufacturers are in short supply. At present, they do not offer to the outside world. Most of the traders’ quotations are mainly up, while a small part is down.

2、 Market analysis

Products: this week, the domestic industrial water purification 85% formic acid market overall shows a relatively stable trend. Formic acid manufacturers maintain the original price supply and marketing, and raise the price partly due to the shortage of inventory, but do not offer to the outside world; traders have different price rises and falls, but the overall price tends to rise.

In terms of devices: most of the merchants have abundant supply of goods, which can be shipped normally without any impact on transportation; as of Friday (March 13), In terms of industrial water purification: Jinzhou jinhongda Chemical Co., Ltd. offers 2100 / T; Zibo Pulis Chemical Co., Ltd. does not offer external price temporarily in case of inventory shortage; in terms of industrial barrel: Jintan local supply and Marketing Co., Ltd. offers 2600 / T; Jinan senhong new Co., Ltd. 2500 / T; in terms of industrial water purification, Jinan huijinchuan Co., Ltd. offers 2600 / T and 3200 / T. Industry chain: upstream products of formic acid, liquid ammonia market is on the rise, sulfuric acid is temporarily stable, methanol market is slightly lower. Slow recovery of downstream products.

According to the formic acid data division of the future forecast business agency, the domestic industrial grade 85% formic acid market is on the rise as a whole, and some manufacturers are in short supply, so customers need to plan ahead in the near future.

1、 Price trend of propylene oxide:

(Figure: P value curve of propylene oxide product)

2、 Market analysis:

Product: the market of propylene oxide fell on March 11, according to the data in the bulk list of business agencies. The price of raw materials has declined, but the cost is still under pressure. The enthusiasm of downstream operation is not high. Just in need of purchasing, some factories are mainly active in shipping, the focus of negotiation has declined, and there is a strong wait-and-see atmosphere in the field. As of the 11th, the average price of propylene oxide enterprises was 8633.33 yuan / ton, down 1.15% compared with that of the 10th. In a half year cycle, it fell 16.72% year on year. On November 11, the cash delivery price in Shandong mainstream market of Wanhua chemical was 8800 yuan / ton. At present, the main quotation of propylene oxide Market in East China is around 8500-8700 yuan / ton, that in Shandong is around 8300-8400 yuan / ton, and that in South China is around 8400 yuan / ton. On the 11th, the main quotation of propylene oxide market was around 8300-8800 yuan / ton.

On March 11, the propylene oxide commodity index was 53.73, down 0.63 points from yesterday, 46.90% from 101.18 (2011-10-26), the highest point in the cycle, and 28.85% higher than 41.70, the lowest point on January 25, 2016. (Note: cycle refers to 2011-09-01 to now)

Industrial chain: on March 11, the market price of the upstream propylene in Shandong Province fluctuated slightly. At present, the market turnover is still 6500 ~ 6800 yuan / ton, and the mainstream price is 6500 yuan / ton. Influenced by the OPEC meeting in the past few days, the international crude oil has plummeted continuously. Today, influenced by the economic stimulus plan and the US manufacturers’ spending cuts, the US crude oil jumped another 8%. Moreover, due to the low production and inventory of propylene plants, the market supply is not rich, so the previous propylene market fell less. Today, it is expected that the price of propylene will remain stable for a short time, and the future market will be affected by crude oil It has a great impact. On November 11, the price of raw materials for downstream polyether fell, the cost side support weakened, the downstream industry recovered slowly, the market trading atmosphere was cold, and the decline continued.

Industry: according to the price monitoring of the business agency, there are 8 commodities in the list of commodity prices rising and falling on March 11, 2020, among which the top three commodities are liquid ammonia (2.50%), ammonium chloride (2.19%) and fluorite (0.99%). There are 19 kinds of commodities falling on a month on month basis, and 1 kind of commodities falling by more than 5%, accounting for 1.1% of the number of commodities monitored in the sector; the top three products falling are ox (- 10.71%), hydrobenzene (- 4.05%) and acetone (- 4.00%). The average price of this day was – 0.37%.

3、 Future forecast:

According to the epoxypropane analysts of the business club, the price of raw materials has declined recently, but the cost of epoxypropane is still under pressure, and the demand side is weak. It is expected that in the short term, the market of epoxypropane will be mainly consolidated and wait-and-see operation, and more attention should be paid to the change of the price of raw materials and the transaction situation in the mainstream market.

1、 Price trend

According to the monitoring of the business association, the price of power coal fell. On March 2, the average port price of power coal remained at about 572.75 yuan / ton, and on March 9, the average port price of power coal remained at about 569.5 yuan / ton, with the overall price down 0.57%. On March 9, the power coal commodity index was 68.61, down 0.25 points from yesterday, 33.39% from 103.01 (2011-11-15), the highest point in the cycle, and 53.49% higher than 44.70, the lowest point on January 20, 2016. (Note: cycle refers to 2011-09-01 to now)

2、 Analysis of influencing factors

Product: since the beginning of the year, the domestic power coal supply has been in short supply. However, with the resumption of coal enterprises and the gradual lifting of road transportation restrictions, the overall supply shortage has been alleviated obviously. As of March 4, Shanxi Province announced the resumption of 569 coal mines with a production capacity of 927 million tons / year, with a recovery rate of 92.97%. Up to now, there are more than 60 coal mines in Yulin area of Shaanxi Province, and 166 in Ordos area, with a total capacity of 558 million tons. After one month’s resumption of production, the coal supply shortage was significantly relieved. The recovery and supply of coal mines in Shaanxi and Inner Mongolia continue to be good, but most of the coal used in the downstream terminal is just needed, and the recovery of downstream enterprises is slower than the release of the upstream capacity. At present, most of the coal mines are generally sold, and the price of coal from the production area has declined. Compared with the recent continuous downward price of the origin market, the port market also maintains a weak trend of operation.

Industrial chain: at present, the inventory of six coastal power plants is still high, and the daily consumption is rising slightly. Recently, the average daily transportation volume of Daqin Railway is 800000 tons, and the number of vehicles approved by the bureau is about 17, which makes the inventory of Beigang rise again. However, the downstream inquiry continues to be low, the transaction is less, and the shipment situation is general. A small number of transaction prices are close to the monthly long-term cooperative price, and the short-term port coal market is still under pressure Power. The data shows that on September 9, the six coastal power plants had an inventory of 17.6825 million tons, daily consumption of 528100 tons and available days of 33.48 days. The storage and consumption of power plants in China are lower than expected, and the market demand for replenishment is weak. In the early stage, due to the shortage of power coal supply and downstream replenishment demand, the power coal increased slightly. However, with the increase of downstream enterprises’ resumption of production, the port inventory is still low compared with the same period, and the daily consumption of the six coastal power plants rises slowly, and they are all in a state of high inventory. At present, the main reason is the consumption of their own inventory. Under the weak supply and demand, the rise of coal price is weak. With the increase of power coal recovery and production, many enterprises have started construction, highway control has been lifted, and China’s economy has gradually recovered. The resumption of coal production in the main production areas has been accelerated, the coal production has been steadily increased, the coal supply in the production areas has been relatively loose, and the mine mouth inventory has increased. The downstream industrial enterprises continued to resume work, but the daily consumption of load and electric coal increased slowly, the inventory of power plants was at a high level, and the purchase demand of power plants was weak.

3、 Future forecast

Analysts of business club believe that: coal supply increases steadily, logistics links are further common, and resumption of production will promote the rapid increase of electricity demand. In March, as coal mines continue to return to work and production, the tight coal supply pattern will be eased, and daily consumption is expected to pick up, but it is temporarily below the normal level of previous years. With the temperature rising, the heating period in the north is coming to an end, the substitution of hydropower and new energy power generation is increasing, and the consumption of electricity and coal will maintain a medium and low-speed growth. It is comprehensively predicted that at this stage, under the condition of relatively loose supply and weak demand, it is expected that the short-term power coal will continue to be weak, depending on the downstream market demand.

Commodity index: on March 8, the polyaluminium chloride commodity index was 105.41, unchanged from yesterday, 3.30% lower than the highest point of 109.01 (2019-08-28) in the cycle, and 4.47% higher than the lowest point of 100.90 on December 19, 2019. (Note: cycle refers to 2019-04-01 till now)

Quotation: according to the monitoring data of business agency (100ppi. Com), in early March 2020, the proportion of poly aluminum chloride (solid, content ≥ 28%) manufacturers returning to work and production continued to rise. The mainstream quotation in domestic market: poly aluminum chloride solid (industrial level, content ≥ 28%) with tax quotation of about 1800-2200 yuan / ton, liquid (industrial level, content 10% – 12%) with tax quotation of about 390-450 yuan / ton, and the manufacturer’s shipment recovered Normal. For enterprises with high inventory, goods are generally dumped after commencement, and the overall quotation is almost stable; however, for some large manufacturers and traders, the delivery price is slightly increased.

Upstream and downstream: since the middle of January 2020, after the Spring Festival holiday and delayed return to work, the domestic market hydrochloric acid price is stable. In February, the price of hydrochloric acid market manufacturers was average, and the price in North China was temporarily stable at 243.33 yuan / ton. Due to the general market situation of upstream liquid chlorine and weak support of hydrochloric acid, downstream dyes, calcium chloride and chloroethane still mainly purchase hydrochloric acid according to early demand, and the pressure of hydrochloric acid delivery is relatively large. Downstream of polyaluminium: according to the manufacturer, the current water treatment project construction has been started in succession, the demand has recovered well, driven by good demand, and the manufacturer’s commencement is normal.

Industry: in late July 2019, recently, the water purification and environmental protection enterprises in Yong’an Road sub district office of Gongyi City, Henan Province received the notice of production suspension, which requires that: according to the analysis of the city’s environmental pollution and future pollution weather, the municipal office requires all deep treatment enterprises to stop production and treatment before acceptance, and can resume production after dispatching or acceptance according to the office. The production was resumed for ten days in August and stopped again on 15th. According to the manufacturer, the shutdown was more affected by the National Games held in Zhengzhou on September 8th. The local environmental protection inspection was strict, and all local enterprises in Gongyi were required to stop production for environmental protection treatment and maintenance. After the National Games on September 8, the local manufacturers did not receive the notice of commencement immediately, and the strict inspection of environmental protection was in progress. In late September, local manufacturers in Gongyi began to resume production one after another, and the supply of goods gradually returned to normal. On December 19, Gongyi, the main production area of Henan Province, issued an emergency notice, requiring all enterprises to stop production and all goods transportation from now until January 1, 2020 in accordance with the spirit of the 16th scheduling meeting of Gongyi City for environmental pollution control. Zhengzhou municipal leaders will lead the supervision group to continuously supervise and inspect the implementation of management and control. If it is found that the implementation is not in place, the person in charge of the enterprise and the truck driver will be detained. The enterprise will be included in the blacklist of integrity, and the enterprise will be subject to top-level punishment. This notice is very strict for manufacturers and freight requirements, and manufacturers should stop production. During the Spring Festival holiday from January to February 20, 2020, the relevant enterprises in the main production area stop production and delay to return to work. After February 20, the manufacturers in the main production area returned to work one after another. At present, the logistics gradually returned to normal in March, and the inventory was constantly consumed. It is reported that the logistics cost in some regions has increased since, and the quotation has increased during the period of less vehicle return to work due to the delay of construction after, but the transportation cost has decreased after most logistics enterprises go to work in the near future.

Aftermarket forecast: the analysis of the business agency shows that the resumption of work is in good condition, the downstream demand of PACl increases, the demand is stable, the transportation system is basically restored, and the delivery cost is stable. The current supply of goods of the manufacturer is sufficient. The main production area of Henan water treatment enterprise is back to work. The price of the factory with high inventory in the early stage is slightly reduced, and the production of the manufacturer is back to normal. The upstream hydrochloric acid market is stable this month, and the downward pressure is expected to be greater in the later period. It is expected that with the increase of downstream demand, the market of polyaluminium will gradually pick up in the future, and the price will continue to be stable when the current inventory is still large.

1、 Price trend

Styrene prices have been choppy and stable this week. According to the data of business agency, the price of sample enterprises on Monday (March 2) was 6600.00 yuan / ton, and that of sample enterprises on Friday (March 6) was 6600.00 yuan / ton, a 0% drop, with the price down 20.80% compared with the same period last year.

2、 Market analysis

Products:

This week styrene market price narrow range finishing, market supply is good. On March 2, the styrene price in East China closed at 6450-6600 yuan / ton, and on March 6, the styrene price in East China closed at 6550-6650 yuan / ton. The price rose first and then fell. The above price is the tank price of Zhangjiagang. On March 2, South China styrene closed at 6500-6550 yuan / ton, and on March 6, South China styrene closed at 6500-6550 yuan / ton, stable price, and delivery price of above factories. Styrene market fluctuated narrowly this week, rising in the middle of the week and falling to the level at the beginning of the week at the weekend. As of Friday, the total inventory of domestic styrene factories decreased slightly, on the one hand, due to the fact that factories in East China had low price shipments to reduce inventory this week. On the other hand, with the return to work of the downstream plant of styrene gradually in place, the operation rate of the downstream plant has been increased compared with last week, the demand for styrene in the region has improved, and the transportation has also been greatly improved compared with that before. In terms of port inventory, the styrene port inventory in East China rose. Last week, it arrived at the port for concentration, but the picking up speed did not keep up with the improvement, resulting in a backlog of port goods sources, expecting the downstream load to increase.

Industrial chain:

Upstream crude oil market fell this week, ethylene, pure benzene continued to fall, styrene production cost support weak. In the downstream, EPS was slightly lower and PS was significantly lower, down 2.5%. In terms of the overall operating rate of downstream enterprises, although the operating rate was significantly improved, due to the isolation of workers before returning to work and other factors, the operating rate of downstream enterprises was lower than the normal level before the festival. The demand is still low. The deadlock between supply and demand is hard to break, and the market lacks strong support.

3、 Future outlook

This week, the international oil price and energy continued to fall. Domestic enterprises stepped up inventory removal, and the trading was flat. It is expected that styrene will mainly settle the market at a low level next week.

On March 4, 2020, the factory cash price including tax of magnesium ingots (99.9%, non pickling, simple packaging) in main production areas in China was slightly recalled, the transportation problem was basically solved, and the operation rate of main production areas was slightly increased. At present, the mainstream manufacturers began to receive orders, with the mainstream quotation range of 14200-14400 yuan / ton, and the actual single negotiation was the main part.

According to the tracking information of the business agency, the main quotation range of Fugu magnesium ingot (99.9%) is 14100-14400 yuan / ton; Ningxia magnesium ingot (99.9%) is 14200-14300 yuan / ton; Taiyuan magnesium ingot (99.9%) is 14400-14600 yuan / ton; Wenxi magnesium ingot (99.9%) is 14500-14600 yuan / ton

At present, the traffic has basically recovered, the magnesium ingot Market has begun to recover, but the actual transactions are not many, the market is relatively cold, downstream enterprises have gradually resumed work, the market inquiry is mostly, most of the manufacturers are still implementing the orders before the year, and the manufacturers start to receive futures orders.

Magnesium market trend

Expected market outlook

Magnesium ingot manufacturers do not have a lot of raw materials in the early stage, a low operating rate, a small amount of product inventory, and a strong willingness to hold up the price in the early stage. At present, magnesium ingot price callback is expected to be stable in the near future, mainly in shock operation, and later pay attention to the changes in the upstream and downstream starting rhythm.

1、 Trend analysis

According to the nickel price monitoring of the business agency, the spot nickel price rose first and then fell this week. The weekend price was 100316.67 yuan / ton, down 1.31% from 101650 yuan / ton at the beginning of the week, down 2.7% year on year.

2、 Market analysis

LME3 closed at $12200 in June, down 2.94% on a weekly basis. This week, Shanghai nickel opened at 102000 yuan, followed by weak prices, closing at 98250 yuan, down 4.01%.

This week, nickel prices fell, traders were cautious in taking goods, downstream enterprises had limited procurement, consumption was affected by the epidemic, and market trading was not active. Indonesia banned mining in advance, and domestic ferronickel production capacity was transferred to Indonesia. The Philippines, New Caledonia and Guatemala will play an alternative role in the import of nickel ore, but they cannot fully meet the demand. The nickel iron plant has fully prepared the ore, the ore price has stabilized, and the short-term supply is sufficient. Due to the poor performance of the epidemic, the growth rate of new energy vehicles continued to decline, and the stainless steel inventory was high.

3、 Future prospects

Future market forecast: the inventory of LUNI continues to soar, with an increase of more than 52% in two months. However, due to the impact of public health events, the downstream demand of the market is difficult to recover in a short term, and nickel prices continue to bear pressure.

1、 Price trend

The domestic isomeric xylene market fell slightly this week, down 0.8% on last week as of Friday, according to the data in the business club’s bulk list.

2、 Analysis and comment

1. Product: due to the continuous spread of the epidemic and the fear of crude oil demand shrinking, the price of international crude oil fell sharply this week, as well as the price of toluene in the Korean market. Although domestic enterprises have gradually entered the resumption period and the market demand has gradually improved, the price of domestic isomeric xylene still follows the decline. At present, the mainstream price in East China is about 4950 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, international oil prices fell sharply this week. As of Friday, spot Brent fell 10.76%, Brent futures fell 10.92%, WTI futures fell 11.41%, and Dubai futures fell 10.27%.

Downstream, in PX market, Sinopec’s companies listed around 6300 yuan / ton this week, with the latest prices of about 670 US dollars / ton FOB South Korea and 688 US dollars / ton CFR China. It is expected that PX market prices will stop falling and stabilize next week. In terms of PTA market, the price of domestic PTA spot market is about 4200 yuan / ton, and the price of foreign market is about 559 US dollars / ton CFR China. It is expected that PTA price will stop falling and stabilize next week. In the ox market, Sinopec’s price of o-benzene was flat at 5800 yuan / ton, and the external price of o-benzene was about 715 US dollars / ton fob in South Korea. It is expected that o-benzene will stop falling and stabilize next week.

3、 Future forecast

Xylene analysts from the chemical branch of business society think: next week, we will continue to focus on the trend of crude oil and the progress of downstream enterprises’ resumption. On the whole, it is expected that the price of isomeric xylene in the international crude oil market and South Korean market will stop falling and stabilize and rebound next week. In addition, domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. Under the expectation, the price of isomeric xylene in the domestic market will fluctuate and rebound next week.

1、 Price trend of sodium pyrosulfite in China

According to the monitoring of the business association, the domestic price of sodium pyrosulfite continues to run at the bottom this week. The average price of industrial grade sodium pyrosulfite at the beginning of the week is 1693.33 yuan / ton, and the average price at the end of the week is 1693.33 yuan / ton, up or down by 0.

2、 Market analysis

Products: in the late February, domestic sodium metabisulfite enterprises have not fully resumed work, and few enterprises have resumed production. The demand for downstream demand continues to be weak due to the slow resumption of work. The overall trading of sodium metabisulfite market is light, and the factors of tight transportation capacity play a certain role in supporting the domestic market price of sodium metabisulfite. In the long-term game, the overall market price of sodium metabisulfite is in a dilemma, This week, the market price range of industrial grade sodium pyrosulfite is 1600-1850 yuan / ton, and the prices quoted by mainstream start-up enterprises are around 1600 yuan / ton. (the above prices refer to the foreign quotations of domestic mainstream enterprises, some of which are temporarily excluded from the scope. The prices are for reference only and have nothing to do with the final pricing of the manufacturer. For details, please contact each manufacturer for consultation).

Industry chain: the price of soda ash and sulfur has recovered slightly in the whole bottom this week, and the rising cost of raw materials will support the market price of sodium metabisulfite in the future.

3、 Future forecast

Analysts of the business club believe that the raw material cost has recovered slightly, the market of pyrosulfite is light, and the long and short game is played. It is expected that the domestic market price of sodium pyrosulfite will continue to move forward steadily at the bottom next week.