According to the monitoring data of the business society, the bisphenol a market was stable in the early stage of this week, and the transaction was slightly lower. Since the auction of a petrochemical enterprise in East China reached a new high on Wednesday, the market pushed up again. Near the weekend, both phenol and acetone at the raw material end rose, which strongly supported bisphenol A and pushed up the industrial chain as a whole. Last Friday, bisphenol a market offered 27040 yuan / ton. So far, the average offer is 27600 yuan / ton. At present, the offer range in mainstream regions such as East China and North China is 27500-27800 yuan / ton. The holders have a strong attitude of price support.

In terms of factories, Lihua yiweiyuan and Nantong Xingchen started construction in 80%, and bisphenol A units such as Sinopec Mitsubishi and Changchun Chemical operated at full capacity. A petrochemical company in zhouzhonghua East auctioned, and the starting price rose from 26000 yuan / ton to 27150 yuan / ton in seven rounds of auctions. This auction result quickly promoted the negotiation between buyers and sellers in the market, increased the downstream replenishment sentiment, and the offer soared on Thursday, The reluctant selling mood of the goods holders is obvious.

From the raw material side, the focus of the phenol market this week is upward. So far, the offer in East China has pushed up to 9250 yuan / ton. According to the monitoring of business society, the average offer in the national phenol market this week has increased from 8900 yuan / ton to 9275 yuan / ton, an overall increase of 4.21%. As soon as the news of force majeure shutdown of Taiwan’s Xinchang plant came out this week, the mentality of phenol shippers was improved, the rising sentiment was rising, the participation of intermediate traders increased, the downstream followed up, the delivery and delivery volume increased significantly this week, and the rising cost of raw materials was strongly supported.

Phenol national market trend

On the other hand, the raw material acetone market has increased significantly and continued to rise in August. The market has soared again this week, and the overall upward trend is obvious. The mainstream negotiation range is 6300-6500 yuan / ton. According to the monitoring data of business society, the average offer of the national acetone market has increased from 5750 yuan / ton to 6625 yuan / ton, an increase of 15.2% a week. On the one hand, the port inventory continues to decline, Moreover, Taiwan’s Xinchang plant unexpectedly stopped on Tuesday, and it is expected that the supply will decline further in the future. Acetone is on the verge of fire, and the cargo holders rose sharply.

Acetone market trend in East China

The downstream liquid epoxy resin is affected by the upward trend of raw materials, and the new single negotiation continues to rise. The monitoring of business society shows that the overall upward trend of liquid epoxy resin Market in East China is 1000-1500 yuan / ton, the negotiation is 3400-34500 yuan / ton, and the negotiation of solid epoxy resin is 29300-29800 yuan / ton. This upward trend mainly comes from the cost support, and the offer of raw material bisphenol A is pushed up to 27500 yuan / ton, which is a strong support. It is expected that the epoxy resin market will run at a high level in the short term.

According to the business society, the upstream and downstream products rose collectively, and there were many unit maintenance at home and abroad from September to October. On the whole, the supply is still tight, but the cost pressure caused by the sharp rise of raw materials in the downstream still needs time to be digested. The business society expects the short-term bisphenol a market to be strong and put into operation.

On August 21, the hydrobenzene commodity index was 83.11, the same as yesterday, down 18.53% from the highest point of 102.01 in the cycle (2014-01-09), and up 177.13% from the lowest point of 29.99 on April 7, 2020（ Note: the period refers to the period from December 1, 2013 to now).

Price rise and fall of main domestic hydrogenated benzene market from August 13 to August 20 (unit: yuan / ton)

Region /, price on August 13, price on August 20, weekly rise and fall

East China, 7525., 7600., + 75

Shandong Province, 7375., 7425., + 50

This week (August 13 to August 20), the market price of hydrogenated benzene in Shandong Province was slightly corrected, at 7375 yuan / ton last weekend, 7425 yuan / ton this weekend, up 50 yuan / ton this week.

Summary of price adjustment of Sinopec pure benzene in 2021 (unit: yuan / ton)

On August 9, 2021, the listing price of Sinopec’s pure benzene was reduced by 150 yuan / ton. At present, it is 7550 yuan / ton, of which Qilu Petrochemical is 7500 yuan / ton. The price of Sinopec’s pure benzene was stable this week.

Start up of some domestic hydrobenzene units in August 2021

In August 2021, the start-up of hydrobenzene enterprises was acceptable, and the start-up in northern China was slightly lower. The start-up and shutdown cost of hydrogenated benzene enterprises is lower than that of pure benzene, and most manufacturers arrange production according to profit.

Commencement of main units downstream of benzene hydrogenation in August 2021

Recently, there have been a lot of maintenance of downstream units. Although some maintenance have been completed and production has begun, some have not been fully recovered. The downstream profitability has improved to a certain extent. On the whole, the demand for pure benzene and hydrogenated benzene is generally supported.

Pure benzene rebounded slightly after falling this week, but the trend of crude oil and downstream styrene was weak, the hydrobenzene market was under pressure, and the market price rose weakly this week. In terms of upstream crude benzene, the supply is tight recently. After the bidding price increase in Shandong this week, it will be implemented at 6320-6325 yuan / ton, an increase of 300 yuan / ton compared with last week. The cost pressure of hydrobenzene enterprises has further increased.

In the future, the business community believes that the downstream demand is gradually recovering, and the supply of pure benzene port has been delayed for a short time. On the whole, the supply and demand on the fundamentals is OK. It is expected that the future consolidation trend of hydrogenated benzene industry chain will be the main trend, with great upward pressure.

This week, the lead market (8.13-8.20) fluctuated downward. The average price of the domestic market was 15358.33 yuan / ton last weekend and 15175 yuan / ton this weekend, down 1.19% this week.

On August 22, the lead commodity index was 92.35, the same as yesterday, down 31.09% from the highest point of 134.01 in the cycle (November 29, 2016), and up 23.74% from the lowest point of 74.63 on March 19, 2015（ Note: the period refers to the period from September 1, 2011 to now).

This week, Lun lead fluctuated downward, with an overall fluctuation of US $2240-2340 / ton. This week, affected by the rebound of the US index, the metal market was under pressure, and the overall trend was weak. Lun lead fell, with insufficient upward momentum. LME inventory data is poor, the decline is slightly slow this week, and Lun lead is under pressure. The main 2109 contract of Shanghai lead follows the trend of Lun lead. It is dominated by weak shocks this week and is under overall pressure.

The spot market continued the downward trend of last week this week, and the overall inventory is still high, about 200000 tons, with obvious accumulation. The smelter is expected to reduce production. At present, it mainly maintains long-term single customers, and the inventory in the plant is relatively normal. Lead prices remain depressed and supply exceeds demand. The downstream mainly purchases on demand, and the downstream enters the peak season. However, it is expected that the peak season is not prosperous this year. During the week, there are some savings enterprises in the downstream bargain hunting to purchase in the market, but the overall gap is obvious compared with previous years.

According to the price monitoring of the business community, in the list of commodity prices rising and falling in the 33rd week of 2021 (8.16-8.20), there are 5 kinds of commodities rising month on month in the non-ferrous sector, including 1 kind of commodity rising by more than 5%, accounting for 4.5% of the monitored commodities in the sector; The top three commodities were metallic silicon (7.58%), titanium concentrate (4.65%) and gold (0.71%). A total of 13 commodities fell month on month, and the top three products were copper (- 4.52%), nickel (- 4.09%) and dysprosium ferroalloy (- 2.45%). The average rise and fall this week was – 0.33%. Most nonferrous commodity prices fell this week.

At present, most downstream purchases are based on demand. Under the environment of no improvement in downstream consumption and high inventory, it is expected that the price of lead ingots will still fluctuate.

1、 Price trend

According to the bulk data list of business society, the average price of domestic hips on August 20 was 12200 yuan / ton, down 0.27% from the beginning of the week, 2.66% from the beginning of the month, and 3.17% month on month.

2、 Market analysis

This week, the raw material styrene suffered a weak shock and its support fell, but the market weakened, the support of the cost side was general, coupled with the general demand in the off-season, the cost and demand weakened, the hips market price fell, the benzene market price remained stable, and the PS market was weak. So far, the mainstream price of hips is mostly about 11900-14800 yuan / ton, and the price of benzene is mostly about 10500-10900 yuan / ton, with a slight decline in the market price.

In the international crude oil market, on August 19, the international oil price continued to fall. The settlement price of the main contract in the U.S. WTI crude oil futures market was US $63.50/barrel, down US $1.71 or 2.60%, and the settlement price of the main contract in Brent crude oil futures market was US $66.45/barrel, down US $1.78 or 2.59%. Oil prices fell for six consecutive trading days, hitting a low since May. On the one hand, the strength of the US dollar pulled down the oil price valuation, and more importantly, it was the negative impact of the expected cooling of demand, adding to the increase in oil production in oil producing countries and the end of the peak driving season in the United States, aggravating market concerns.

In terms of raw materials, the market price of styrene continued to decline this week. On August 16, East China styrene closed at 8800-8950 yuan / ton. On August 20, it was 8500-8650 yuan / ton, down by 300 yuan / ton. The above is the tank price in Zhangjiagang. On August 16, South China styrene closed at 8950-9000 yuan / ton. On August 20, it was 8600 yuan / ton, down 350 yuan / ton. The delivery price of the above factories. This week, the fundamentals of styrene market changed little, supply increased and demand rebounded, but the overall situation was still weak, and the price trend was guided by crude oil.

3、 Future forecast

The business agency believes that the current cost support force is declining, the demand in the off-season is limited, the enterprise shipment is under pressure, and the fundamentals are weak. It is expected that the hips market will fall steadily in the short term.

According to the bulk list data of business society, as of August 13, the average quotation price of acrylic acid in East China was 15600 yuan / ton, which was flat compared with Monday’s price, increased by 29.64% compared with July 13, and increased by 44% year-on-year in a three-month cycle.

In July, the acrylic acid market rose steadily, with a monthly increase of 27.35%. In August, the tight balance between supply and demand supported the continued rise of the acrylic acid market, and the market was running at a high level this week. Recently, the overall supply of the market is still tight, but with the price rising to a high level, the resistance of the downstream to high priced raw materials is increasing, the enthusiasm for inquiry is general, just need to purchase, the wait-and-see atmosphere is strong, and the price runs smoothly.

Upstream propylene, according to the bulk list data of business society, as of August 12, the reference price of propylene was 7723.09, an increase of 0.95% compared with Monday’s price. Downstream procurement enthusiasm has been improved, and the market trading atmosphere is acceptable.

Acrylic acid analysts of business society believe that, on the whole, the recent price rise of raw material propylene has little impact on the cost. The downstream just needs to purchase, and the market trading is stable and orderly. It is expected that the acrylic acid 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 the bulk data monitoring of business society, the mainstream price of styrene in China rose this week. Last Friday (August 6), the price of the sample enterprises of the business community was 9000.00 yuan / ton, and this Friday (August 13), the price of the sample enterprises was 9000.00 yuan / ton. The price increased by 71.43% over the same period last year.

2、 Market analysis

Product: the market price of styrene stopped falling and rebounded this week, and gradually rebounded and rose in the middle of the week. On August 6, Shandong styrene closed at 8800-8950 yuan / ton, and on August 13, it was about 9000 yuan / ton, up about 50-200 yuan / ton, which is the tank price in Zhangjiagang. On August 6, South China styrene closed at 8850-8900 yuan / ton and was delivered. On August 13, it was 9000 yuan / ton, up 50-150 yuan / ton. The delivery price of the above factories.

In terms of raw materials, the rebound in international oil prices this week will maintain a strong shock. In terms of pure benzene, the price of pure benzene remained stable after a slight decline. As of Friday (August 13), the mainstream quotation of pure benzene was 7520.00 yuan / ton, down 80 yuan / ton or 1.05% from 7600.00 yuan / ton last Friday (August 6). Although the output of the new pure benzene unit is lower than expected, the port inventory has increased significantly in recent weeks. Some styrene units in the downstream have reduced production until they stop. The supply and demand are slightly dragged down by the market. Generally speaking, the cost side pure benzene is no longer a strong point of styrene.

In terms of ethylene, the external quotation of ethylene continued to decline this week. As of Friday (August 13), the mainstream quotation of ethylene was 1132.00 yuan / ton, down 21 yuan / ton or 1.82% from 1153.00 yuan / ton last Friday (August 6). Recently, the demand of the whole ethylene external market is poor, the market trading atmosphere is cold, and the overall focus of the ethylene market moves downward.

In terms of inventory, as of August 11, the inventory of East China port was 83400 (- 0.50) tons, the import to ship slowed down, the port inventory fell, and the port to ship was limited, driving the strong trend of futures and slightly strengthening the basis. In terms of domestic production, this week, the average operation of domestic styrene plants was 76.31%, down 1.5% from last week. The capacity base increased due to the new increase of 600000 T / a capacity of Zhangzhou Gulei. This week, the domestic styrene output was 233600 tons, an increase of 1.66% over last week. During the week, the 100000 ton units of Daqing Petrochemical and 250000 ton units of Shandong Yuhuang were restarted; The operating load of a factory in East China decreased; One factory in East China and one in South China started to recover. On the whole, in the case of cash flow loss, the output reduction of styrene unit in August was higher than that in July, but the fundamentals of domestic styrene market were still weak, and the cost support was weaker than that in the early stage.

Downstream, the downstream price of styrene fluctuated this week. PS, EPS held steady after falling at the beginning of the week, and ABS continued to rise slightly. In the PS market, as of Friday (August 13), the mainstream ex factory quotation of PS in East China was 10950.00 yuan / ton, down 16.67 yuan / ton and 0.15% from 10966.67 yuan / ton last Friday (August 6). This week, the operating rate of domestic PS industry was 69.21%, with a month on month decrease of 3.74% and a year-on-year decrease of 12.05%. The load of Lvan Qingfeng unit increased slightly, but the Yangba unit stopped for a few days, which affected the industrial output and commencement. Some PS load shedding devices have been restarted, and the terminal demand is still light.

EPS market, the EPS market as a whole remained stable after falling at the beginning of the week. As of Friday (August 13), the mainstream ex factory quotation of EPS in East China was 10475.00 yuan / ton, down 175 yuan / ton or 1.64% from 10650.00 yuan / ton last Friday (August 6). The domestic EPS industry started about 65.59% this week, down 2.89% month on month. Jiangsu Jiasheng has not been restarted yet. Panjin Longguang, Dalian Jiasheng, Dongying Donghai and Xinjiang Xingda have stopped for a short time, and the overall commencement has decreased slightly. The demand for downstream household appliances is still light, the demand for insulation board is good, and the EPS profit is acceptable.

The ABS market continued to rise slightly this week. As of Friday (August 13), the mainstream ex factory quotation of ABS Zhejiang was 17950.00 yuan / ton, an increase of 250 yuan / ton, or 1.41%, compared with 17700.00 yuan / ton last Friday (August 6). The ABS industry started 96.97% this week, up 1.47% from last week. The unit of Jilin Petrochemical was running at full load this week. The ABS unit of Daqing Petrochemical started on August 9, and the overall operating rate increased from last week. The supply of ABS is tight, the terminal is still in the off-season, and the overall profit of ABS is good.

3、 Later outlook

Under the influence of the global epidemic, the prospect of crude oil demand is under pressure. Although pure benzene is supported, at present, the profit point of styrene has been opened, and pure benzene can no longer guide the trend of styrene. The maintenance plan of styrene unit in August has been gradually implemented, the inventory has decreased slightly, the downstream will gradually transition to the peak season, and there are plans to put new units into operation. With the operating rate rising gradually, The demand for styrene will also increase slightly. On the whole, the supply and demand of styrene in the short term is better than expected, and the price of raw material pure benzene has stabilized, but there is still no strong support point for the rebound. It is expected that the trend of styrene in the short term will fluctuate and rebound.

1、 Price trend

According to commodity data monitoring, isopropanol prices fell this week. The average price of domestic isopropanol was 6933.33 yuan / ton on Monday and 6766.67 yuan / ton on Friday. The price decreased by 2.4% during the week.

2、 Market analysis

Figure: comparison of price trend of acetone and isopropanol from June to August

Isopropanol prices fell this week. Up to now, the quotation range of Shandong isopropanol in China is about 6500-6600 yuan / ton; The quotation range of Jiangsu isopropanol is about 6900-6950 yuan / ton; The quotation range of isopropanol in Zhejiang is about 6900 yuan / ton. Internationally, on August 10, the U.S. isopropanol market closed stable, and the European isopropanol market closed basically stable. Acetone rose first and then stabilized this week, with limited support for isopropanol, insufficient upward momentum in isopropanol market, and prices fell.

In terms of raw material acetone, the current acetone market has become weak and the market has entered a stalemate. According to the monitoring of bulk commodity data, the average price of domestic acetone was 5575 yuan / ton on Monday and 5700 yuan / ton on Friday. The price decreased by 2.24% during the week.

In terms of raw material propylene, the current market price of propylene has been pushed up weakly, the manufacturer mainly focuses on price stabilization, and the downstream purchases on demand. According to the commodity data monitoring, the propylene market quotation increased this week. The average price of propylene in China was 7650.36 yuan / ton on Monday and 7723.09 yuan / ton on Friday. During the week, the price was slightly adjusted upward by 0.95%.

3、 Future forecast

Isopropanol analysts of the chemical branch of business society believe that: at present, the price of propylene is slightly adjusted upward, the trading of acetone market is weaker, the support of raw materials for isopropanol is limited, and the factory quotation is reduced. The overall demand of the domestic isopropanol market has weakened, the market is relatively light, mainly wait-and-see, the shipping resistance of traders is large, and the price is adjusted downward. It is expected that the price of isopropanol will decrease slightly in the short term, and pay attention to the changes in the news.

The lead market (8.6-8.13) fluctuated downward this week. The average price of the domestic market was 15583.33 yuan / ton last weekend and 15358.33 yuan / ton this weekend, down 1.44% this week.

On August 13, the lead commodity index was 93.47, the same as yesterday, down 30.25% from the highest point of 134.01 in the cycle (November 29, 2016), and up 25.24% from the lowest point of 74.63 on March 19, 2015（ Note: the period refers to the period from September 1, 2011 to now).

This week, Lun lead first fell and then rose, with an overall fluctuation of US $2250-2340 / ton. At the beginning of the week, affected by the rebound of the US index, the metal was under pressure, and Lun lead fell. In the middle of the week, with the upward force of the US index, the base metals began to rebound, and the trend of Lun lead began to rebound. At the weekend, as the US index began to fall, the price of Lun lead fluctuated upward. The main 2109 contract of Shanghai lead was dominated by weak shocks this week, followed the high decline of Shanghai lead trend at the beginning of the week, and dominated by shocks at the weekend.

The spot market mainly went down this week and picked up slightly on Thursday. At present, the lead ingot inventory is still at a high level, the lead price is under pressure as a whole, and the downstream is still not prosperous in the peak season. At present, the procurement of storage enterprises is more inclined to recycled lead, and the supply of lead concentrate is still tight. However, due to the current profit of by-products, the original enterprises are more active and the lead ingot supply is sufficient.

According to the price monitoring of the business community, in the list of commodity prices rising and falling in the 32nd week of 2021 (8.9-8.13), there are 10 kinds of commodities rising month on month in the non-ferrous sector, including 1 kind of commodity rising by more than 5%, accounting for 4.5% of the monitored commodities in the sector; The top three commodities were metal silicon (5.62%), nickel (4.49%) and tin (3.31%). There were 7 commodities with month on month decline, and the top 3 products were cobalt (- 1.00%), praseodymium neodymium alloy (- 0.65%) and dysprosium oxide (- 0.37%). Both rose or fell by 0.8% this week. Most nonferrous commodity prices rose this week.

At present, most downstream purchases are based on demand. When downstream consumption does not improve, the price of lead ingots will still fluctuate.

1、 Price trend

According to the monitoring data of business society, the price of soda ash is strong this week. The average market price at the beginning of the week was about 2137.5 yuan / ton, and the average market price at the weekend was 2187.5 yuan / ton, with a price increase of 2.37%, 58.13% over the same period last year. On August 12, the commodity index of light soda ash was 110.90, up 1.28 points from yesterday, down 5.91% from the highest point of 117.86 points in the cycle (November 21, 2017), and up 75.61% from the lowest point of 63.15 points on November 18, 2015（ Note: period refers to the period from September 1, 2011 to now)

2、 Market analysis

According to the monitoring data of business agency, the mainstream market price of light soda ash in East China is about 2150-2250 yuan / ton. The price of soda ash in North China is relatively strong, and the mainstream market price of light soda ash is about 2200-2300 yuan / ton. The price of soda ash in Central China is relatively strong, and the current mainstream market price of light soda ash is about 2100-2200 yuan / ton. Generally speaking, the short-term high price of soda ash is dominated.

Demand: glass prices are stable this week. From the beginning of the week to the end of the week, the average price of the glass market is 38.62 yuan / m2. The glass spot market is basically stable, the trading market atmosphere is light, and the prices in some regions are adjusted sporadically. The shipments of enterprises in Shahe, North China are acceptable, the quotations of some manufacturers are slightly reduced, and the transactions of traders are more flexible. The overall trend of glass spot market in East China is general, and the quotation is basically stable. The production and sales in Central China are OK, and the shipment speed slows down. Glass shipments in South China are generally limited to films in some regions, and downstream processing enterprises are cautious when the quotation is high. On the whole, the manufacturers are mainly price stabilizing, the downstream is more wait-and-see, the procurement is more cautious, and the traders’ transactions are more flexible.

According to the price monitoring of the business society, in the list of price rise and fall of chlor alkali industry in the 31st week of 2021 (8.2-8.6), there were 0 kinds of commodities rising, 1 kind of commodities falling and 4 kinds of commodities rising and falling to 0. The main commodities falling were PVC (- 0.14%). The average rise and fall this week was – 0.03%.

Business analysts believe that the domestic soda ash price is light, the market is running, the market trading atmosphere is relatively stable, and the manufacturers are mainly active in shipping. Downstream glass prices are stable, which is still in a wait-and-see state for high priced soda ash. Generally speaking, soda ash tends to be strong in the later stage, and the market operation is mainly based on the downstream market demand.

On August 11, the international oil price rebounded continuously and rose for two consecutive days. The settlement price of the main contract in the U.S. WTI crude oil futures market was $69.25/barrel, an increase of $0.96 or 1.40%, and the settlement price of the main contract in Brent crude oil futures market was $71.44/barrel, an increase of $0.81 or 1.0%. Data released by the U.S. Energy Information Administration (EIA) on Wednesday showed that crude oil inventories fell last week, improved U.S. employment data and improved liquidity boosted fuel consumption, and the Biden government said it would not support U.S. oil companies to increase production, and supply expectations were good for oil prices.