Led by: soda ash (2.96%), acrylic acid (2.86%), steam coal (2.53%), urea (China shandong hengsheng (16.97, 0.780, 4.82%) (600426), 1.82%), urea (Baltic, 1.80%).
Among the: benzene (8.33%), aniline (8.11%), polyester (6.30%), BOPP (6.20%), acetic acid (6.00%).
The crude oil market tight trading range. WTI rose 1.73% to $60.72 a barrel last week, brent, dubai crude oil fell by 0.40%, 2.29% to $66.54 a barrel and $62.60 a barrel. In the
weeks before the half, because the Saudi crude exports increased to the highest level in nearly a decade, prices downward adjustment, but the second half of the week in Cushing
crude oil inventories from record highs last fall, alleviate the concerns of the excess supply of the market, at the same time, a weak dollar, the tense situation in Iraq, a
certain extent, support the price of crude oil recovery.
This year China’s pure benzene imports surged, lead to port stocks soared. On Zhou Chun benzene fell 8.33% to 5500 yuan/ton, a 16.67% drop in the pure benzene imports surged
this year, only three months before imports reached 420000 tons, accounting for 60% of the total imports last year, but the import source was not stable consumption, pure
benzene port stocks close to 200000 tons. Nearly two weeks sinopec pure benzene delivery pressure increases, the continuous rapid price cut, making it harder for shipment port
inventory, market bearish mood gradually thick, on-demand procurement downstream users.
Aniline is reduced supply, but cost surface negative effect is larger. Aniline last week fell 8.11% to 6800 yuan/ton. Because the raw material of pure benzene even fell 600
yuan/ton, aniline cost surface bearish, then weaken. Supply side, the jilin Cornell parking, Jin Ling a set of 100000 tons of equipment maintenance, supply market as a whole,
however, are still weak downstream demand, just need to purchase. We expect the short-term there are still cut space.
The manufacturer maintenance, supplies, urea to pull up the downstream demand. Urea lu the hang seng (China) last week rose 1.82% to 1680 yuan/ton, urea (Baltic sea) rose 1.80%
to $283 a tonne, monthly gains were 8.39% and 13.20%, while India’s bidding price is lower and domestic demand is not prosperous, but with the increase of maintenance business,
market supply tensions continued, to a certain extent, pushing prices up. We expect domestic urea market has just started, the current agricultural urea inventory is low, demand
will speed up purchasing raw material, compound fertilizer enterprises is conducive to further promote the market.
Acetic acid price has dropped to below the cost of production. Acetate last week fell 6.00% to 2350 yuan/ton, a 17.54% drop in the domestic price of glacial acetic acid is in
trough, but the current rebound is not obvious. According to the raw material of methanol, according to the market price of the average cost of production of acetic acid in
roughly 2530 yuan/ton, manufacturer of cost pressure has reached its limits, trying to raise price, but the downstream wait-and-see mood is thicker, and the supply is greater
than the demand, therefore has not effectively drive the market higher, is expected to rebound in the short term will not significantly.