Last week (January 2 ~ 6 days), glyphosate prices remained high, price in 26500 ~ 29000 yuan / ton.
The bulk drug such as paraquat, imidacloprid, acetamiprid, cyhalothrin and other prices last week rose significantly, including imidacloprid rose 4000 yuan / ton, acetamiprid rose 5000 yuan / ton, rose significantly and the supply is very tight.

Hechi SASAC also further pointed out that, according to the “Regulations” measures for the administration of information disclosure of listed companies, the Hechi chemical industry should be timely public disclosure of the existence of a special agreement equity transfer information, the performance of listed companies information disclosure obligations.

Hechi chemical industry restructuring announcement reporter’s inquiry in 2005, which did not disclose the agreement. But it is worth noting that, if in accordance with the agreed “not to transfer the shares of state-owned shares of the river” and other terms, the river group prior to the transfer of a controlling stake to Silver billion holding when it should be constituted a breach of contract.

Or by the Hechi Group intends to transfer the shares after the Hechi chemical industry news, yesterday opened 4% up quickly, a few minutes will be firmly closed in the limit.

Hechi SASAC objection and so on. The letter said, in accordance with the prior agreement, the equity transfer income prior to January 2017 12 days before the Hechi municipal government to repay the principal of 106 million yuan. But as of now, the Hechi municipal government owed 106 million yuan loan outstanding. The letter did not disclose the reasons for the formation of the loan.

Hechi SASAC also said that in December 5, 2016, Haohua Chemical Corporation oral notice which will be on January 2017 held by the transfer of 37 million 493 thousand and 589 stake in Hechi chemical industry. For this, the Hechi municipal SASAC expressed dissatisfaction: “Haohua Chemical Corporation, such as communication and consultation in our city is not the same situation, the transfer of holdings of 37 million 493 thousand and 589 shares of Hechi River group is in violation of the” Guangxi chemical, Hechi chemical industry group asset restructuring agreement “in 6,” securities pledge…… (7) Party A agrees not to transfer the existing assets of the river group to areas outside Hechi City, not the transfer of state-owned equity river of the shares of the company, does not change the company’s registration, based in Hechi, the main business bigger and stronger “agreement, will constitute the actual breach of contract, we reserve the right to pursue the liability for breach of contract in accordance with the law.”

Recently, OPEC production agreement entered into force for more than and 10 days, from the current members of the OPEC implementation of production process, overall good. Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, four countries in the implementation of production agreement, including Saudi Arabia since January crude oil production decline of at least 486 thousand barrels / day to 10 million 58 thousand tons / day. Angola, Algeria has notified the oil companies to cut oil production to meet production commitments. Venezuela has implemented 95 thousand barrels / day of commitment. Although last December Iraqi exports hit 3 million 510 thousand barrels a day of record highs, but the country starts from the beginning of January this year has been cut 160 thousand barrels / day, which exceeds the commitment to decrease rate of 210 thousand / day 3/4. At the same time, as the main representative of non OPEC production, Russia’s crude oil production from October 2016 11 million 250 thousand barrels a day in the post Soviet era record a decrease of about 130 thousand barrels a day, over the completion of this month to cut at least 50 thousand barrels / day of the initial target.

Overall, the producers now implement the basic production in place, even if the oil producing countries according to the agreement cut finish only 80%, the crude oil market will be in early 2017 to rebalance. The medium term, the focus of the operation of crude oil is expected in 55 to 60 U.S. dollars / barrel.

Since mid December 2016, PTA oscillation finishing. Before the Spring Festival is expected to continue to maintain the rate of about PTA oscillation pattern, the proposed bargain layout, promising holiday rally.

PX in the darkness before the dawn

The PX operation is relatively stable, PX- naphtha spreads is currently stable at 350 U.S. dollars / ton, is low since 2016, mainly with the recent strong upstream naphtha, and India trust 2 million 200 thousand tons PX device to open the. But from the beginning of the end of March, the Asian PX device will enter the maintenance area, at present, the two quarter Asian PX volume will overhaul in about 8 million 200 thousand tons, accounting for 19% of the total capacity of Asian PX. In 2015 and 2016 two quarter volume is only 4 million 500 thousand tons of maintenance. Excessive maintenance of PX device will make PX a substantial tightening of supply. On the other hand, 900 thousand tons of PTA plant in Far East 1 million 400 thousand tons and is expected to drive Peng Wei in April to restart, and the raw material stocking can aggravate the extent of demand PX. Look after the Spring Festival PX end PTA given the cost of support.

The supply pressure is PTA

January PTA equipment maintenance is not much, is expected in January PTA total inventory of 200 thousand tons, the overall poor performance of supply and demand. But recently, you can clearly see, as long as the PTA fell, have participated in polyester plant replenishment. In addition, recent mainstream suppliers are actively repurchase warehouse and spot price support still exists. According to the current maintenance announcement is expected, 2 million 200 thousand tons itsumori device maintenance plan in Ningbo in early February this year during the Spring Festival, refer to the downstream polyester overhaul, PTA market 1 – March inventory accumulation pressure is not great. From three sets of stock device production expected, Xianglu no clear date of resumption of production on 2017, half out of the possibility is low, and the Far East and Peng Wei have a stable output or to wait until after May, does not exclude the possible delays, that is to say, at least until May, the supply pressure is not PTA.

From the operation of the downstream polyester, polyester benefits in January will continue to maintain the good momentum, inventory level has to rise, but the absolute inventory is still low, the average inventory days over the same period last year dropped by half. According to statistics, during the Spring Festival this year to overhaul the polyester production capacity of around 5 million 500 thousand tons, compared to the same period last year fell 21%, which related to the good profit. From the planned new plant put into operation, the first quarter of 2017, is expected to three sets of a total of 1 million 150 thousand tons of production capacity is expected to put in the bottle, incremental demand will slow down the PTA storage capacity on the pressure, but also put more on the production capacity of polyester at. Although from the beginning of next week, polyester factory continue to enter the Spring Festival holiday mode, demand gradually come to light, but this year from the new device shutdown efforts and later put process, we are still optimistic about the holiday prices stimulating downstream demand for PTA.

In short, PTA will maintain the oscillation method.

With the development of new products to increase investment, in 25 years from 1990 to 2014, the new effective components of different categories of pesticides listed quantity decreased (Figure 4). Among them, in 1990 to 1999 10 years, about 130 new active ingredients listed, i.e., there are about 13 new active ingredients listed every year; in 2000 – 2009 years, about 100 new active ingredients listed, i.e., there are about 10 new active ingredients listed in the 2010 – year; in 2014 5, about 30 new active ingredients listed, i.e., there are about 6 new active ingredients listed every year. Thus, the development of a new effective component is more and more difficult.

Wang summed up the 6 factors of pesticide research and development costs:

The further integration of industry, investment companies to reduce new product creation. Because of regulatory requirements more stringent, into new products listed before the higher costs, many of the original can be listed varieties are not listed, which also contributed to the merger and reorganization of enterprises, to increase investment; at the same time, the company’s investment in R & D created more cautious.

The R & D investment more seeds and transgenic technology. Relatively easy to obtain transgenic technology achievements, and some test cost is also very low pesticide.

The effective components of development costs increased significantly.

The registration of the regulatory environment is more and more strict.

The attention of biological solutions. In recent years, such as Bayer spent great effort to the development of biological pesticide.