1、 Price trend chart of nitric acid Market

Nitric acid price curve

According to the monitoring of the business agency, the average price of nitric acid in East China at the beginning of this week was 1500 yuan / ton, and the average price at weekend was 1516 yuan / ton, with the quotation rising by 1.11%.

2、 Market analysis

Anhui Jinhe quoted 1350-1400 yuan / ton, which was about 50 yuan / ton higher than last week; Shandong helitai Chemical Co., Ltd. quoted 1750 yuan / ton, which was flat compared with last time; Huainan Aodeli chemical products Sales Co., Ltd. quoted 1380 yuan / ton of concentrated nitric acid, which was 100 yuan / ton higher than last week; Wenshui Synthetic Chemical Co., Ltd. quoted 1530 yuan / ton of concentrated nitric acid and 680 yuan / ton of dilute nitric acid The price of concentrated nitric acid was lower than that of last week; the trading volume of partial nitric acid market was acceptable.

According to the monitoring of the business agency, the upstream product of liquid ammonia in Shandong Province dropped by 1.06% in the week of 18th, with the mainstream market quotation of 2750-3000 yuan / ton; for the downstream TDI, the average market price of TDI in East China on the 15th was 17833.33 yuan / ton, up 22.71% compared with 14533.33 yuan / ton at the beginning of the month; and aniline at the downstream was up 5.93% this week.

3、 Future forecast

Supported by downstream products, nitric acid analysts of business club predict that the price of nitric acid will rise.

1、 Price trend

Price: the mainstream quotation of GPPS is 7650-8900 yuan / ton, and that of hips is 8700-9700 yuan / ton.

2、 Market analysis

PS market trend is stable, traders wait for the opportunity, according to their own resources flexible goods. Downstream factories maintain the rigid demand procurement, and the trading atmosphere has not improved significantly. Zhanjiang Sino US PS ex factory price, 525 quotation is 8300 yuan / ton. The ex factory price of CITIC Guoan PS is 8250 yuan / T.

3、 Future forecast

The overall market of PS market is mainly stable, and merchants are more cautious in trading. Small and medium-sized downstream users mainly purchase on demand. The overall trading atmosphere of the market is slightly flat. It is expected that the price will be mainly shaken in the short term.

Oil production in August was higher than that in July as OPEC continued to ease production cuts, according to a Reuters survey.

According to the survey, crude oil production increased by 950000 barrels a day in August to 2427 million barrels a day. Despite Iraq’s commitment to cut production by another 400000 barrels a day in August to make up for its failure to comply with the oepc + cut quota, the increase appears to be continuing. Nigeria has also pledged to cut production further to make up for overcapacity since May.

When OPEC + extended the record 9.7 million barrels per day cut for one month to the end of July, the alliance agreed that all countries in the treaty should comply with their quotas 100 per cent, while those that did not comply should compensate for non-compliance by exceeding the cut in July, August and September.

Since August, OPEC + has reduced its production to 7.7 million B / D, of which 13 OPEC member states need to cut 4.868 million B / D in total, excluding compensatory production cuts in Iraq and Nigeria.

Oil demand may be improving, helping OPEC stick to its quotas, but even OPEC is not particularly optimistic about oil demand this year. In its latest monthly oil market report, the group said it expects daily oil demand to fall by 9.1 million barrels this year, up 100000 barrels from July’s forecast. OPEC also estimates that the global economy could fall as much as 4% this year, compared with 3.7% in July.

Since OPEC production hit its lowest level since 1991 in June, OPEC production has rebounded by 2 million B / D, including a 1 million B / d cut initiated by Saudi Arabia to accelerate the oil price rebound by tightening supply, according to Reuters survey data. Saudi Arabia, by far the largest producer of OPEC, produced 9 million barrels a day in August, 600000 more than in July.

1、 Price trend

Data show that this week, pure benzene in Shandong fell in a weak position. On August 23, the listed price of pure benzene was 3000-3450 yuan / ton (average price was 3390 yuan / ton); this Sunday (August 30), the listed price of pure benzene was 3020-3450 yuan / ton (average price was 3390 yuan / ton), the average price was flat compared with last week.

2、 Analysis and comment

This week, pure benzene trading light, slightly lower than last week’s price. In the first half of the week, the spot price of pure benzene rose slightly due to the rise of styrene, but in the second half of the week, the price dropped due to the impact of low prices such as hydrogenated benzene. This week, pure benzene port inventory decreased slightly, but the inventory remained high.

On the external side, Asian pure benzene fell in a weak position this week. On Friday (August 28), South Korea imported 427.33 US dollars / ton of pure benzene, down 14.34 US dollars / ton, or 3.25% compared with August 21; and pure benzene imported from East China was 437.5 US dollars / ton, down 7 US dollars / ton, or 1.57% compared with August 21.

In terms of crude oil, affected by the storm this week, the oil and gas production in the Gulf region of the United States was affected, and the oil price rose. In the second half of the week, relevant people expected that the impact of the storm would weaken, production would resume soon, and oil prices would fall back. Compared with August 21, Brent was up $1.305 per barrel, or 3%, and WTI was up $0.95 per barrel, or 2.24%. Compared with December 31, 2019, Brent decreased by 32.79%, and WTI decreased by 28.76%.

On the downstream side, the styrene market maintained a high-frequency oscillation pattern, and the cost support and de inventory operation continued to confront. On August 28, the price of styrene in Shandong was 5300 yuan / ton, up 166.67 yuan / ton or 3.25% over last week.

This week aniline Market stable price consolidation. On the 28th, the price of aniline in Shandong was 4250-4430 yuan / ton, and that in Nanjing was 4400-4500 yuan / ton.

3、 Future forecast

In terms of crude oil, the impact of the Gulf of Mexico storm subsided, and the crude oil market may rise before retrenchment. Public health events continue to affect the economy and energy market.

In the later stage, some downstream units will restart, which will support the demand for pure benzene. But the port inventory is still high, crude oil, external disk support is weak. It is expected that the short-term pure benzene price will not have a big breakthrough and the price will fluctuate in a narrow range.

According to the data monitored by the business agency, as of August 28, the price quoted by pet water bottle manufacturers was 5466.67 yuan / ton, and the price of mainstream manufacturers was around 5400-5500 yuan / ton. The market of polyester bottle chip in South China was narrow, and the mainstream negotiation price in the market was 5200-5300 yuan / ton.

In recent years, pet market has been running steadily, with poor downstream demand, low negotiation atmosphere, and just in demand procurement. At present, the market of PET bottle chips in East China is stable. The price of mainstream manufacturers is around 5400-5450 yuan / ton, and the negotiated price is about 5150-5300 yuan / ton. At present, the price of Xiamen Tenglong is 5400 yuan / ton, Guangdong Taibao 5400 yuan / ton, Zhuhai China Resources 5400 yuan / ton, Zhejiang wankai 5400 yuan / ton, Yizheng Chemical fiber 5350 yuan / ton. Most of them are cautious and wait-and-see attitude, the cost support is general, the manufacturer’s quotation is stable, the focus of negotiation is low, and the just need procurement is the main.

The upstream PTA market is weak, the market trading atmosphere is general, crude oil prices continue to decline, there are no favorable factors, the market is dominated by contract orders, the number of new orders is limited.

The PTA commodity index on August 27 was 35.22, down 0.11 points compared with yesterday, 66.11 points lower than 103.92 points (2011-09-15), and 17.05% higher than the lowest 30.09 points on April 22, 2020. (Note: period refers to 2011-09-01 to now)

On August 27, the rubber and plastic index was 635 points, unchanged with yesterday, 40.09% lower than 1060 (2012-03-14), and 20.27% higher than the lowest point of 528 on April 06, 2020. (Note: period refers to 2011-12-01 to now)

Pet analyst of business agency thinks: pet market runs smoothly in the short term, and the focus of negotiation is low. (the above prices are provided by major pet manufacturers all over the country and analyzed by pet business analysts for reference only. Please contact relevant manufacturers for more price details.)

On August 25, the U.S. WTI crude oil futures market prices rose, with the settlement price of main contracts at $43.35/barrel, up $0.73. Brent crude oil futures market prices rose, the main contract settlement price to 46.29 U.S. dollars / barrel, up 0.65 dollars. WTI crude oil and Brent crude oil reached the highest level since March, mainly due to the hurricane, most of the offshore crude oil production units along the Gulf of Mexico were shut down, and supply risk partially offset the impact of the epidemic.

According to relevant overseas news, the U.S. energy industry is preparing for the coming of Hurricane Laura, which experts say is the most threatening for the US oil industry in 15 years.

Oil producers are urgently cutting crude oil production in the wake of the hurricane. In addition, they have suspended most refining units along the coast of Texas and Louisiana. According to the American Energy Information Association (EIA), oil production in the Gulf of Mexico coastal areas hit by the hurricane accounts for 17% of the total U.S. production, and refining capacity accounts for more than 45%. Refineries that produce gasoline and diesel are taking steps to shut down nine facilities, which are calculated to process nearly 2.9 million barrels of crude oil a day, or 14.6 percent of the total refining capacity of the United States. This has a significant impact on US oil supply. Currently, 82% of oil production and 57% of natural gas production have been shut down in the Gulf of Mexico. Oil producers along the Gulf Coast cut crude oil production by 1.56 million barrels per day. The sharp drop in supply has provided a boost to oil prices.

In addition, foreign news on August 25, data released by the American Petroleum Association (API) on Tuesday showed that US crude oil and gasoline inventories fell last week. As of August 21, crude oil inventories fell by 4.5 million barrels, and analysts estimated a decrease of 3.7 million barrels. API said crude oil inventories in Cushing, Oklahoma, fell by 646000 barrels. Gasoline inventories fell 6.4 million barrels last week, with analysts expecting a 1.5 million decline. Inventories have fallen for weeks in a row, which also supports the current relatively high oil prices.

The business agency believes that in the near future, oil prices may continue to consolidate at a high level. On the one hand, under the influence of the Gulf of Mexico hurricane, the shutdown of oil plants will reduce the impact of supply, and on the other hand, it will be a good support for the decline of inventory for several weeks. However, in the medium term, the oil price does not have the fundamental basis of a substantial upward trend. Except for the OPEC + oil producing countries’ agreement on production reduction, the scale of production reduction will gradually decrease, and the supply will be reduced In the medium and long term, there are certain risks; what’s more, there are still great risks in the current epidemic situation in Europe, America and Asia, and the pace of demand recovery may be affected by the epidemic situation for a long time. Therefore, it is difficult to make a substantial breakthrough in oil prices in the medium and long term.

1、 Price trend

According to the business club’s big list data, this week’s domestic toluene market trend is stable. As of Friday, the domestic average price was about 3380 yuan / ton, which was flat compared with last week.

2、 Analysis and comment

This week, the international oil price rose slightly and then fell back. As a whole, it was in a narrow range. Affected by this, the trend of toluene price was stable this week. As of the end of last week, the port inventory in East China was about 76000 tons, with a decrease of 14000 tons compared with last week. The pressure to go to the warehouse still exists, but the import volume decreased this month, and the shortage of filling capacity began to ease. The main price in East China is about 3360 yuan / ton. As the new coronavirus epidemic leads to the reduction of crude oil demand and the impact of geopolitical tightening on economic recovery concerns, the market continues to pay attention to the impact of the continued spread of overseas epidemic on the demand for crude oil, and the progress of the European and American economic recovery rescue plan.

Upstream, crude oil, this week, the international oil price rose slightly and then fell back. As of Friday, spot Brent fell $0.945/barrel to close at $43.57/barrel, down 2.12% from last week. The longer the oscillation lasts, the greater the possibility of large fluctuations in the future. The future market will pay close attention to the fluctuation and breakthrough of Brent crude oil between $42-46 / barrel. The future crude oil demand prospect and oil price trend mainly depend on the trend of global epidemic situation and the orderly recovery of national economy. At the same time, how oil producing countries and oil enterprises adjust their production is also an important factor affecting oil prices.

In the downstream, TDI continued to rise this week, and the atmosphere in the market became warmer. For domestic goods with bill of lading in East China, the reference was 13300-13500 yuan / ton, and that of Shanghai was around 14000 yuan / ton. It is expected that the short-term TDI market will maintain a small upward trend. In terms of PX market, the listed price of domestic Sinopec’s enterprises is about 4600 yuan / ton this week, and the latest external price is about 530 US dollars / ton FOB Korea and 548 US dollars / ton CFR China. It is expected that the PX market in the short term will be slightly reduced.

3、 Future forecast

According to toluene analyst of chemical branch of business society: in the short term, OPEC + production reduction, total number of American oil wells and EIA, API inventory data. In the medium term, on the demand side, the economic and trade situation in Europe and the United States, the geopolitical situation between China and the United States, and the continuous deterioration of the global second epidemic situation have an impact on the economic restart of crude oil demand and the recovery progress of the industrial chain. Next week, we will focus on the impact of the continued spread of overseas epidemic on the demand for crude oil due to the economic restart and recovery, as well as the progress of the European and American economic recovery rescue plan. On the whole, it is expected that toluene prices in the domestic market will continue to fluctuate slightly next week.

1、 Price trend

This week, the selling price of sulfuric acid in Shandong Province rose slightly, with the quotation rising from 427.50 yuan / ton at the beginning of the week to 435.00 yuan / ton at the end of the week, up 1.75%. Overall, the sulfuric acid market rose this week, and the sulfuric acid commodity index on August 21 was 67.70.

2、 Market analysis

From the manufacturer’s quotation, the price of mainstream sulfuric acid manufacturers in Shandong Province rose slightly this week, with less inventory and stronger downstream demand. Heze Jiangyuan quoted 360 yuan / ton at the weekend, which was 10 yuan / ton higher than that at the beginning of the week; Zouping Tianlu offered 260 yuan / ton at the weekend, 20 yuan / ton higher than that at the beginning of the week; Jinan Yuanfei quoted 550 yuan / T, which was temporarily stable compared with the beginning of the week; kunshengda of Taiyuan City quoted 570 yuan / T at the weekend, which was temporarily stable compared with the beginning of the week.

From the perspective of the upstream and downstream industrial chain, the upstream sulfur market has risen slightly recently, and the cost support is good. However, the market of monoammonium phosphate and diammonium phosphate in the lower reaches has a positive impact on sulfuric acid, and the price of bromine is also rising steadily. There are many favorable factors in the downstream. At the same time, some sulfuric acid factories are short of operation recently, the load is reduced, and the supply of sulfuric acid is in short supply.

3、 Future forecast

In the last ten days of August, the market of sulfuric acid in Shandong Province rose mainly due to small fluctuation. The price of sulfur in the upstream has risen slightly in recent years, and the downstream market has been consolidated at a high level. The demand for sulfuric acid in the downstream is positive, and the product trend is upward under the contradiction between supply and demand. The sulfuric acid analysts of the business agency believe that the short-term Shandong market in the supply and demand and raw materials and other aspects of the impact of sulfuric acid market or a small rise.

1、 Market price trend chart of paraformaldehyde

Polyoxymethylene price curve

According to the monitoring of business agency, this week, the average quotation of Polyoxymethylene (96) in Shandong was 4400 yuan / ton, which was the same as last week.

2、 Market analysis

Shandong aldehyde Chemical Industry Co., Ltd., with an annual output of 30000 tons of paraformaldehyde, Polyoxymethylene (96) ex factory, including tax, quoted 4600 yuan / ton, which was the same as last week. Linyi Shengyang Chemical Co., Ltd., with an annual output of 9000 tons of paraformaldehyde, Polyoxymethylene (96) ex factory, including tax, quoted 4100 yuan / ton, which was the same as last week. Zibo Qixing Chemical Technology Co., Ltd., with an annual output of 10000 tons of paraformaldehyde, Polyoxymethylene (96) ex factory, including tax, quoted 4500 yuan / ton, which was 100 yuan / ton lower than last week. Paraformaldehyde is still in general.

According to the price monitoring of the upstream methanol, the domestic methanol market weakened on the 18th, and some manufacturers reduced the ex factory quotation by about 20-50 yuan / ton. The average methanol price at the beginning of the week was 1620 yuan / ton, and the average price at the weekend was 1615 yuan / ton, a decrease of 0.31%.

3、 Future forecast

Raw material support is limited, business community polyoxymethylene analysts believe: polyoxymethylene prices will fall.

Price trend

According to the business agency data monitoring, plasticizer Market weakened in August and DOP prices fell. As of August 17, the DOP price was 6966.67 yuan / ton, down 0.95% from 7033.33 yuan / ton at the beginning of the month.

Upstream market of industrial chain

It can be seen from the trend chart of raw material phthalic anhydride that the price of DOP raw material phthalic anhydride fluctuated in August, the cost of DOP decreased, and the downward pressure of DOP increased. This week, the price of phthalic anhydride hit the bottom and rebounded. The increasing power of phthalic anhydride, DOP cost and DOP increase.

It can be seen from the octanol price trend chart that the octanol price fell in August and the pressure of DOP cost decline increased. This week, the octanol price rebounded and rose, the DOP cost rose, and the driving force of DOP market rose.

Downstream market of industrial chain

It can be seen from the PVC price trend chart that the PVC price fluctuated in August, the downstream market of plasticizer DOP fell, and the pressure of plasticizer DOP was increased. PVC prices fell sharply this week, the plasticizer Market negative, plasticizer drop pressure is greater.

Market review and future expectation

Bai Jiaxin, an analyst with DOP data of business agency, believes that since August, raw material prices and PVC prices have fallen, while plasticizer prices have fluctuated and fallen, and DOP market is under great pressure. Since this week, the price of raw materials phthalic anhydride and octanol hit the bottom and rebounded, which was good for DOP market, PVC market fell and negative for DOP market remained. Generally speaking, DOP market has fallen since August. This week, DOP industry chain market has bottomed out and rebounded. DOP market has upward momentum, and later DOP market has stronger upward momentum. It is expected that DOP market will be stable.