1、 Price trend

 

PVA 2699

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly decreased this week. On August 28th, the price of pure benzene was at 7850 yuan/ton, and on Friday (September 1st), the price of pure benzene was at 7800 yuan/ton, a decrease of 0.63% compared to last week and an increase of 3.71% compared to the same period last year.

 

2、 Analysis and Review

 

The price of Sinopec pure benzene this week is 7850 yuan/ton (prices in Shandong and Hebei regions are synchronized)

 

Downstream aspect

 

3、 Future Market Forecast

 

Crude oil rose broadly and is expected to shake and consolidate in East China in the morning.

 

POLYVINYL ALCOHOL

The OPEC+production reduction atmosphere continues to provide support, with expectations of tight supply increasing and international oil prices continuing to rise. NYMEX crude oil futures contract 10 rose by $2.00 per barrel or 2.45% to $83.63 per barrel; ICE oil futures contract 10 is up $1.00 per barrel, or 1.16%, at $86.86 per barrel. The main contract for China INE crude oil futures, 2310, rose 6.6 yuan to 643.6 yuan/barrel, and rose 7.8 yuan to 651.4 yuan/barrel in overnight trading.

 

Core logic: Yesterday, the mainstream price in East China was 7700-7740 yuan/ton, and delivery was basically completed. Replenishment demand slowed down, and the market slightly declined. Shandong is priced at 7740-7800 yuan/ton, with the main business listing falling in price and insufficient market buying, resulting in a decrease in transaction volume.

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According to the Commodity Market Analysis System of Business Society, the domestic propylene (Shandong) market fluctuated and rose in August, with a significant increase towards the end of the month. At the beginning of August, the market was average at 6713 yuan/ton, with an average price of 7000 yuan/ton as of August 31st, a monthly increase of 4.28% and a decrease of 1.66% compared to the same period last year.

 

POLYVINYL ALCOHOL

As of August 31st, the mainstream prices of propylene in different regions in China are as follows:

 

Region/ August 31st

Shandong region/ 7050-7100 yuan/ton

Northeast region/ 6650-6750 yuan/ton

East China region/ 6700-6750 yuan/ton

In August, the propylene market in Shandong fluctuated and rose, with prices gradually showing a stronger trend. At the beginning of the month, the rebound in crude oil and polypropylene prices led to a slight increase in the propylene market, leading to a narrowing of the price difference between polypropylene and propylene, a weakening of downstream purchasing willingness, and a weakening of the propylene market. Subsequently, the PDH device maintenance of Shandong enterprises resulted in a decrease in on-site supply, boosting market information and driving up propylene prices. Due to the impact of news and demand, the propylene market has experienced a fluctuating upward trend. Towards the end of the month, propylene on-site inventory is low, supply is tight, and with news boosting, prices have shown a broad upward trend.

 

PVA 1799 (PVA BF17)

Cost side: In August, the upstream of propylene showed varying degrees of increase, which effectively boosted the propylene market with enhanced cost support. On the demand side: Except for a few varieties, downstream derivatives of propylene have experienced varying degrees of increase, with some products experiencing an increase of over 20%. The production of downstream products is still good, and demand is steadily following up.

 

Propylene analysts from the Chemical Branch of the Business Society believe that the current propylene market has stable supply and demand, low inventory, and high enthusiasm for downstream entry. It is expected that the propylene market will tend to be strong in the short term.

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