1、 Price trend

According to the monitoring of bulk data from the business agency, the domestic acetic acid market continued to rise. As of April 20, the quotation in Henan was about 2150 yuan / ton; in Shandong, it was about 2150-2300 yuan / ton; in Hebei, it was about 2250-2300 yuan / ton; in Shaanxi, it was about 2250 yuan / ton; in Jiangsu, it was about 2200-2300 yuan / ton; in Zhejiang, it was about 2350-2450 yuan / ton; in South China, it was about 2150 yuan / ton The regional delivery quotation is about 2300-2400 yuan / ton, which is 10.82% higher than that on April 7.

2、 Cause analysis

Product: after continuous decline in February and March, the domestic acetic acid market finally ushered in a rebound. There are two main reasons for the rise of acetic acid. One is that the enterprises have successively overhauled or issued corresponding overhaul plans, among which Jiangsu Thorpe’s 1.2 million ton / year plant began to be overhauled on the 20th for 30-40 days, Nanjing Celanese’s 1.2 million ton / year plant planned to be overhauled on the 23rd for more than 30 days, Hebei Jiantao’s 500000 ton / year plant planned to be overhauled on the 5th of May for about 30 days, and Shaanxi’s 300000 ton / year plant planned to be extended Shanghai Huayi 700000t / a plant is planned to be overhauled for more than 30 days on May 8. In addition, Yankuang plant is planned to be overhauled for about 30 days in mid May. Due to the long-term and half negative operation of Yankuang plant, there is a certain tension in the market spot supply. Some enterprises have started to ship in limited quantity in preparation for inventory. Downstream users and traders have a high intention of preparing goods. The market transaction atmosphere is active, and the situation of supply exceeding demand in the industry is extremely strong On the other hand, due to the high price of raw material methanol, and the continuous decline of acetic acid market, the ex factory price of acetic acid has fallen to the vicinity of the cost line. In order to reduce the storage pressure, some enterprises in East China even made losses and shipments, and the intention of enterprises to hold up prices is strong.

Industry chain: in the upstream, the domestic methanol market is operating at a high price, and the inventory pressure of enterprises is not high. The surrounding market is actively pushing up, and the market transaction atmosphere is fair. At present, about 1775 yuan / ton is available. The domestic acetate, vinyl acetate and other industries have strong resistance to high prices due to the terminal market, and the price starts to decline after the continuous rise, and the overall demand of the downstream industry is still weak. PTA market has a narrow range Fall, the spot market negotiations are weak, weak demand side on PTA market support negative.

International: affected by the global health events, the international acetic acid price continues to decline, and the export end has insufficient support for the domestic acetic acid price. At present, the acetic acid Market in North America is about 485 US dollars / ton; the Asian market is about 250-300 US dollars / ton; the European acetic acid market is about 570 euros / ton.

3、 Future forecast

According to the acetic acid analyst of the business agency, affected by the centralized maintenance of the later stage devices, the arrival expectation of the enterprise has dropped significantly, the overall inventory of the market is at a low level, and the situation of supply exceeding demand has been effectively alleviated. The downstream market is dominated by rigid purchase and demand, the buying intention of the industry is gradually increasing, and the trading atmosphere is active. It is expected that the acetic acid price market will run well in a short time.

1、 Price trend of sodium pyrosulfite in China

According to the monitoring of the business association, the domestic price of sodium pyrosulfite continued to move forward steadily this week. The average price of industrial grade sodium pyrosulfite at the beginning of the week was 1676.67 yuan / ton, and the average price at the end of the week was 1676.67 yuan / ton, up or down 0.

2、 Market analysis

Product: this week, the domestic sodium metabisulfite market as a whole continued to move forward at the bottom, with general market performance, strong wait-and-see attitude of trade subjects, weak downstream demand, and the market price of industrial sodium metabisulfite generally in the range of 1600-1750 yuan / ton. (the above prices refer to the foreign quotations of domestic mainstream enterprises, some of which are temporarily excluded from the scope. The prices are for reference only and have nothing to do with the final pricing of the manufacturer. For details, please contact each manufacturer for consultation).

Industry chain: this week, domestic soda ash and sulfur prices fell again, raw material costs continued to fall, downstream demand continued to be weak, and the overall price of sodium metabisulfite will continue to bear pressure.

3、 Future forecast

Analysts of the business club believe that the price of raw materials has fallen again, the downstream demand continues to be weak, and many negative effects have been suppressed, so there is still some room for the future market price of sodium metabisulfite to fall.

1、 Price trend

According to the price monitoring of the business agency, the comprehensive price of potassium chloride is temporarily stable this week. This week, the average price of the mainstream comprehensive quotation of potassium chloride was 2180.00 yuan / ton, down 7.23% year-on-year compared with the same period last year. Overall, this week’s potassium chloride market was temporarily stable, with the potassium chloride commodity index at 69.21 on April 10.

2、 Market analysis

The quotation of mainstream potassium chloride manufacturers this week is temporarily stable: the weekly ex factory quotation of Qinghai Salt Lake potassium chloride is 2100 yuan / ton, which is temporarily stable compared with that at the beginning of the week; the weekend distribution quotation of Anhui Badu potassium chloride is 2260 yuan / ton, which is temporarily stable compared with that at the beginning of the week. This week, the actual transaction in the potassium chloride market is not good. On the whole, the main contradiction in the market is that the supply exceeds the demand, the trading atmosphere is cold, the downstream procurement is just in demand, the overall inventory is low, the purchasing market momentum is low, and the domestic potassium chloride market is stable.

3、 Future forecast

In the middle of April, the overall trend of potassium chloride market or low consolidation dominated. The market of potassium chloride is faced with three major pressures, namely, large stock, weak demand and downward international prices. Therefore, the main contradiction in the current market is that supply exceeds demand. According to analysts of KCl in business association, the short-term market of KCl is dominated by low consolidation under the influence of supply and demand and raw materials.

On April 14, international oil prices fell again, with WTI crude oil in the United States down $2.30 (- 10.26%) to 20.11 yuan / barrel. Brent crude fell $2.14 (- 6.74%) to $29.60 per barrel. The main reason is that OPEC + and other oil producing countries’ production reduction agreements disappointed the market, the share of production reduction is difficult to offset the decline of fuel demand caused by the new crown epidemic, and the U.S. crude oil inventory increased significantly than expected, which increased the market panic atmosphere.

Since the beginning of April, the market has experienced a sharp rebound in crude oil in the atmosphere of OPEC + production reduction expectations. On April 2, crude oil rose by 25%. However, with the agreement framework of production reduction reached at the ministerial video conference of OPEC and Russia, the oil price on that day experienced an intraday surge of 12%. After the results of production reduction came out, it fell by more than 9%. The market has expressed disappointment with OPEC + production reduction until On the evening of April 12, OPEC and other oil producing countries formally reached an agreement on production reduction. According to the agreement, the average daily production of OPEC and other oil producing countries will be reduced by 9.7 million barrels from May 1. The first round of production reduction will last for two months. Besides OPEC +, other oil producing countries led by the United States will jointly reduce production by 5 million barrels. This is also the largest production reduction agreement reached since the establishment of OPEC + mechanism, but it still fails to appease the market situation controlled by the epidemic Xu. Oil prices fell again on the 14th.

It can be seen that the market is still worried about the crude oil in the later period. From the perspective of the production reduction agreement of the global oil producing countries, this is also a loose agreement temporarily reached under various interests. From the time of production reduction, we can see the clue. The agreement takes effect on May 1, which means that the output of the oil producing countries in the next ten days in April is uncontrolled, and some oil producing countries are not excluded There will be a temporary increase in production, so oil prices may bear more pressure in the near future. During the effective period of the later agreement, the negative production reduction of some oil producing countries can not be excluded, which also lays a hidden worry for the supply risk of the future oil market.

According to the business association, at present, the demand side is still the root cause of controlling the crude oil market. The global epidemic has not been effectively controlled, and even some organizations have assessed that the decline of crude oil demand may reach 35 million barrels / day. From this data, the share of production reduction of the global oil producing countries is not worth mentioning. In addition, at present, the epidemic area is gradually spreading, especially the market worries that India will become a new outbreak area in the later period. At present, India has implemented restrictions. India’s crude oil demand in the Asia Pacific region is second only to China, and it is the third largest crude oil import country in the world. According to the agency’s calculation, India’s oil demand in April may be reduced by 3.1 million barrels / day, down by 70%. However, China’s data is better. With the resumption of production and the rapid recovery of demand, the data shows that China’s crude oil import in March increased by 4.5% year-on-year, but the inventory pressure of Chinese refineries is also increasing day by day, and the import increase in the later period may be limited. Overall, the risk of global crude oil demand in the later period will still increase.

In addition, the market inventory data also contributed to the decline of crude oil. The data released by the American Petroleum Institute (API) on Tuesday showed that as of the week of April 10, crude oil inventory in the United States jumped 13.1 million barrels, analysts expected to increase 11.7 million barrels, and Cushing crude oil inventory increased 5.4 million barrels. In addition, affected by the collapse of demand and the surge of refined oil storage, the operating rate of refineries decreased, and the refinery refining volume decreased by 1.2 million barrels / day. It can be predicted that the increase of inventory will obviously bring about the rapid consumption of storage capacity. According to some analysis, the global crude oil storage capacity may be exhausted in the coming weeks, which is not a shadow catcher either. According to the report on the 13th, the main oil trade center in the Middle East has no space for storing more oil, so the port of Fujairah in the UAE has been closed. In the later stage, more ports will not be excluded because they cannot hold more crude oil. According to the business association, if the epidemic does not end in a short period of time, global crude oil producers may change from active production reduction to passive production reduction to achieve the rebalancing of the crude oil market, mainly due to the depletion of storage capacity. The short-term downside risk of oil price still exists, and oil price will continue to be under pressure due to the control of epidemic situation in the medium and long term.

1、 Price trend

Isopropanol prices rose this week, according to commodity data monitoring. At the beginning of the week, the average price of isopropanol in China was 10600 yuan / ton, and at the end of the week, the average price was 11666.67 yuan / ton. The price of isopropanol rose by 10.06% during the week.

2、 Market analysis

Product: isopropanol market continued to rise this week. The price of isopropanol has been rising since March 13. At present, isopropanol in the U.S. continued to rise, while isopropanol in Europe ended stable and fell. From the perspective of China’s export price, the export price of Europe is expected to continue to rise. Up to now, the negotiation range of isopropanol in Shandong Province and Jiangsu Province is about 10000-11700 yuan / ton and 11700-12000 yuan / ton respectively. In terms of the current international situation, the demand for disinfectant and other resources in the European market will remain high.

Industry chain: the upstream acetone market price has risen significantly. At present, the quotation in East China is 4650 yuan / ton; the quotation in Shandong is 4550 yuan / ton; the quotation in surrounding areas of Yanshan is 4500 yuan / ton; the quotation in South China is 4800 yuan / ton. The market price of propylene in Shandong has been raised steadily. At present, the market negotiation range has risen to 5900-6000 yuan / ton.

3、 Future forecast

According to the isopropanol analyst from the chemical branch of business society, from the current situation in Europe, a large amount of demand for isopropanol in the European market will continue for some time. In the near future, the supply of factories is in short supply, and traders are reluctant to sell. However, in the short term, the domestic price of isopropanol remained high, and the follow-up attention was focused on the change of news.