On September 21, the price of acetic acid in East China was 3132.50 yuan/ton, an increase of 0.40% compared with the previous working day. In terms of on-site construction, the acetic acid plant of the plant was operating normally, and the supply of goods in the market increased. In terms of downstream, the demand for procurement did not improve significantly. Downstream plants mostly followed up on demand. The overall market delivery was average, the on-site supply was strong and the demand was weak, and the attitude of the cargo holders was wait-and-see. In order to maintain the pace of shipment, the focus of negotiations was slightly lowered, and the rise of acetic acid was weak, It is expected that the acetic acid market will operate on a wait-and-see basis, and the price will be temporarily stable, with specific attention paid to the market transaction.

The domestic MIBK market rose slightly, mainly due to the continuous upward support of acetone at the raw material end. Under the pressure of cost, the focus of negotiation rose by about 100-150 yuan/ton, and the overall negotiation range was 9750-9850 yuan/ton.

Some factories of raw acetone raised the listing price of 100 yuan/ton again today, which stimulated the market to go up. The growth of major acetone markets across the country was different, and most of them continued to go up. The offer in East China rose to 5480-5550 yuan/ton, and that in Shandong and North China was 5750 yuan/ton. The continuous upward movement of the market has increased the cost pressure on the downstream. The spot supply on the market is still tight, and the holders have little intention to sell at a low price. However, the profitable holders intend to ship, and the terminal just needs to purchase acetone. It is expected that the short-term acetone will be strong.

The operating rate of MIBK industry was around 80% in the week. The 15000 t/a MIBK plant in Zhenyang, Zhejiang, was shut down for maintenance on September 17. The operating rate of the industry was around 7 cities. The quotation of the supplier was pushed up, and the price may continue to rise in the short term

Recent price trend of sulfuric acid

As can be seen from the figure above, the price of domestic sulfuric acid market fell slightly this week. The price of sulfuric acid fell from 238.00 yuan/ton at the end of last week to 228.00 yuan/ton at the end of this week, a drop of 4.20%, and a year-on-year drop of 71.32% compared with the same period last year. On September 18, the sulfuric acid commodity index was 35.49, unchanged from yesterday, 81.13% lower than the cycle’s highest point of 188.07 (2022-04-13), and 12.60% higher than the lowest point of 31.52 on June 6, 2019. (Note: Period refers to 2011-09-01 to now)

The upstream market was consolidated at a low level, and the downstream purchasing enthusiasm was insufficient

From the manufacturer’s quotation, the price of domestic mainstream sulfuric acid manufacturers fell slightly this week, the manufacturer’s inventory was average, and downstream demand weakened.

From the perspective of upstream and downstream industrial chains, the upstream sulfur market rose slightly. The sulfur price rose from 1126.67 yuan/ton at the end of last week to 1143.33 yuan/ton at the end of this week, an increase of 1.48%. Compared with the same period last year, it fell by 41.37% year on year. The upstream market fluctuated narrowly and the cost support was general. The downstream hydrofluoric acid market was consolidated at a low level, and the market price was 10540.00 yuan/ton, down 3.04% year on year compared with the same period last year. The market price of titanium dioxide in the downstream market was adjusted at a low level. The market price was 16350.00 yuan/ton, a year-on-year decrease of 21.89% compared with the same period last year. The downstream market was adjusted at a low level, and the enthusiasm for downstream procurement was weakened.

The market fell slightly after shocks

In late September, the domestic sulfuric acid market was mainly down due to slight shock. The upstream sulfur market has been in a narrow range recently, with average cost support. Downstream markets of hydrofluoric acid, titanium dioxide and ammonium sulfate were consolidated at a low level. Downstream customers were not enthusiastic about purchasing sulfuric acid, and the product trend fell due to the contradiction between supply and demand. According to the sulfuric acid analysts of the business community, the short-term domestic sulfuric acid market price may fall slightly due to the impact of supply and demand, raw materials and other aspects.

1、 Price trend

According to the monitoring data of the business community, the average price of PS ordinary materials at the beginning of this week was 10466 yuan/ton, and the average price of PS ordinary materials at the weekend was 10466 yuan/ton, which was stable.

2、 Market analysis

At present, the PS (polystyrene) market trend is weak, the trading atmosphere is weak, the shipping rhythm of merchants is slowing down, and the focus of negotiation is weakening slightly. Quotation reference of mainstream brands: 10200 yuan/ton for Dushanzi 500; CITIC 525 is out of stock, Saibaolong 525 is reported as 10050 yuan/ton, Shanghai SECCO 123P is reported as 10350-10450 yuan/ton, Zhenjiang Qimei PG33 is reported as 11100 yuan/ton, Huajin 825 is reported as 10650-10700 yuan/ton; Ningbo Taihua 535N quoted 11000 yuan/ton, and the above prices are all tax inclusive prices, which are subject to firm negotiation.

The upstream styrene continued to decline, the downstream purchasing enthusiasm was low, coupled with the impact of low price offer, and the business confidence was insufficient, or gave way to profits. The mainstream price of GPPS (polyphenylene sulfide) in East China market is 9850-11100 yuan/ton, and the mainstream price of HIPS (polystyrene) is 10600-11600 yuan/ton.

3、 Future market forecast

At present, the PS downstream transaction is sluggish, and it is expected that the short-term domestic PS (polystyrene) market is narrow and soft.

On September 15, the price of orthobenzene was temporarily stable

It can be seen from the trend chart of the price of neighboring benzene of the business community that the price of neighboring benzene was temporarily stable on September 15. As of September 15, the price of ortho benzene was 8600 yuan/ton, up 300 yuan/ton or 3.61% from 8300 yuan/ton on September 2, and temporarily stable, up 32.31% from 8600 yuan/ton on September 14, the previous trading day. On September 14, the OX Commodity Index was 73.41, unchanged from yesterday, 26.59% lower than the highest point of 100.00 (March 07, 2013) in the cycle, and 126.29% higher than the lowest point of 32.44 on April 13, 2020. (Note: the cycle refers to 2013-02-01 to now).

Key points of the market

Recently, the price of crude oil has fluctuated and dropped, the price of mixed xylene has temporarily stabilized, and the cost of o-xylene has stabilized; The price of phthalic anhydride rose sharply, and the demand for ortho benzene recovered. The cost has stabilized and the demand has warmed up. The price of ortho benzene in the external market has fluctuated and risen. There is still great downward pressure on the domestic ortho benzene market.

Future outlook

The cost tends to be stable, and the demand recovers. The favorable situation of ortho benzene increases the downward pressure, and the ortho benzene market is strong and stable in the future.