On May 14, the phthalic anhydride commodity index was 61.31, down 0.33 points from yesterday, down 48.96% from the peak of 120.13 points in the cycle (2012-02-28), and up 26.62% from the low of 48.42 points on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

PVA 1799 (PVA BF17)

In recent years, domestic phthalic anhydride market price trend has been temporarily stable, the phthalic anhydride market in eastern China maintained weak, downstream factories maintained just-in-demand purchasing, factory inventory pressure continued, high-end transactions were blocked, the mainstream of on-site neighbouring source negotiation was 6300-6400 yuan/ton, and the mainstream of naphthalene source negotiation was 6100 yuan/ton; the mainstream quotation of phthalic anhydride market in North China was 6300-6400 yuan/ton, with the main market shocks. The quotation trend of enterprises is slightly declining, downstream construction is not high, purchase on demand is the main, wait-and-see mentality is strong, the domestic phthalic anhydride plant is stable, the spot supply of phthalic anhydride is normal, the market is not good, the price trend of phthalic anhydride is negative.

PVA 1788 (PVA BP17)

 

Recently, the executive price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6400 yuan/ton. The actual transaction price in the market is 6400 yuan/ton. The quotation is declining, and the port market is general. The upstream raw material mixed xylene price fluctuation maintains stable, the turnover of phthalic acid is general, the port phthalic acid inventory is low, the quotation of phthalic acid external market is temporarily stable, the import phthalic acid cost fluctuation, the actual transaction price is discussed in detail, the upstream price trend declines, and the phthalic anhydride market price maintains weak. DOP downstream price is lower, DOP downstream demand is general, customer procurement enthusiasm is not good, DOP mainstream transaction price is about 7900 yuan/ton, DOP downstream price is still under pressure, downstream price is slightly lower, demand for upstream phthalic anhydride is limited, phthalic anhydride market price is slightly lower, it is expected that the later market price of phthalic anhydride will be around 6200 yuan/ton

On May 13, the phthalic anhydride commodity index was 61.64, down 0.48 points from yesterday, down 48.69% from the peak of 120.13 points in the cycle (2012-02-28), up 27.30% from the low of 48.42 points on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

PVA 1788 (PVA BP17)

Recently, the domestic market price of phthalic anhydride has been slightly lower, the market of phthalic anhydride and phthalic anhydride in eastern China has been weaker, downstream factories have just needed to purchase, factory inventory pressure continues, high-end transactions are blocked, the mainstream of on-site neighbouring source negotiations is 6300-6400 yuan/ton, and the mainstream of naphthalene source negotiations is 6100 yuan/ton; the mainstream quotation of phthalic anhydride market in North China is 6300-6400 yuan/ton, and the market weakness is shocke The price of phthalic anhydride in China is stable, the spot supply of phthalic anhydride is normal, the market is not good, and the price of phthalic anhydride is declining.

PVA 1799 (PVA BF17)

 

Recently, the executive price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6400 yuan/ton. The actual transaction price in the market is 6400 yuan/ton. The quotation is declining, and the port market is general. The upstream raw material mixed xylene price fluctuation maintains stable, the turnover of phthalic acid is general, the port phthalic acid inventory is low, the quotation of phthalic acid external market is temporarily stable, the import phthalic acid cost fluctuation, the actual transaction price is discussed in detail, the upstream price trend declines, and the phthalic anhydride market price maintains weak. DOP downstream price is lower, DOP downstream demand is general, customer procurement enthusiasm is not good, DOP mainstream transaction price is about 7900 yuan/ton, DOP downstream price is still under pressure, downstream price is slightly lower, demand for upstream phthalic anhydride is limited, phthalic anhydride market price is slightly lower, it is expected that the later market price of phthalic anhydride will be around 6200 yuan/ton.

PVA FIBER

Price Trend

According to the data from the business associations’list, the overall price of xylene in China fell sharply this week. The average price of xylene in mid-month was 5,759 yuan/ton, while the average price of xylene in early month was 5,615 yuan/ton, with a monthly amplitude of 2.5%.

II. Analytical Review

1. Crude oil: This week, the oil market as a whole shook broadly, with many sharp rises and falls, and the surrounding environment fluctuated greatly.

PVA FIBER

2. The reference price of FOB Korean xylene is also affected by crude oil, with fluctuations ranging from $684 to $708 per ton. Sinopec’s subsidiary company, Xylene listed prices in some areas have been reduced. Port stocks fell slightly, with about 110,000 tons in East China.

3. Downstream: At present, the market information is complex, the trading atmosphere is on the sidelines, the delivery is general, and the downstream delivery is cautious. The main focus of the market is on the production of Shandong PX plant.

PVA 1799 (PVA BF17)

3. Future Market Forecast

Xylene analysts from Business, Social and Chemical Branch believe that in general, crude oil prices will fluctuate broadly this week, or continue to fluctuate next week, and be alert to the risk of a sharp fall after a breakthrough. In the second quarter, there will be more centralized maintenance at home and abroad. The supply of xylene is expected to decrease, and the market is expected to be optimistic. With the late start-up of downstream PX plant, xylene will face the advantages of reduced supply and increased demand, and the price is expected to stop rising.

PVA 1788 (PVA BP17)

First, the price trend: The price of acetic anhydride fell this week, according to business data monitoring.

As of May 10, acetic anhydride enterprises quoted an average price of 5233.33 yuan/ton, compared with the earlier this week acetic anhydride quote 5366.67 yuan/ton, the price fell 2.48%, compared with the last weekend quoted 5533.33 Yuan/ton fell, a decrease of 5.42%; the price is 33.81% lower than the price of acetic anhydride in the same period last year.

PVA 1788 (PVA BP17)

Second, the market analysis:

Product Analysis: This week the domestic acetic anhydride factory offer fell, the market transaction price fell. As of May 10, most of the factory prices in 5000-5300 yuan/ton, the actual transaction price fell, the actual transaction price in Shandong region in 5100 yuan/ton, the price fell, the market quotation for the reference price, the actual transaction price to the actual consultation prevail.

Acetic anhydride factory repair end, equipment start rate to maintain a high, but the downstream sales of acetic anhydride cold, acetic anhydride market in general, after the fall of acetic anhydride pressure is greater.

PVA 1799 (PVA BF17)

Analysis of industrial chain factors:

Product Name

Specifications

Quotation area

5.6

5.7

5.8

5.9

5.10

Change

Year%

Unit

Acetic anhydride

Premium Products

Shandong

5366.67

5333.33

5300.00

5300.00

5233.33

-133.34

-2.48

RMB/ton

Acetate

Premium Products

East

2633.33

2616.67

2616.67

2616.67

2616.67

-16.66

-0.63

RMB/ton

Methanol

Premium Products

Shandong

2178.00

2200.00

2250.00

2250.00

2248.00

70.00

3.21

RMB/ton This week acetic anhydride raw materials acetic acid price shock fell, methanol price shock rose. As of May 10, acetic acid quoted 2616.67 yuan/ton, the price of acetic acid decreased by 16.66 yuan/ton earlier this week, a decrease of 0.63%.

This week methanol price shock rose, as of May 10, methanol quote 2248.00 yuan/ton, this week methanol prices rose 3.21%, acetic anhydride cost rise, acetic anhydride market has a positive impact, after the after-effects of acetic anhydride has a certain upward momentum.

Third, the forecast of the aftermarket: Business Society acetic anhydride data analyst Baijia believes that this week acetic anhydride raw materials acetic acid prices fell, methanol price shock rose, acetic anhydride cost rise, acetic anhydride price has a certain upward momentum. Recently, acetic anhydride manufacturers started high rate, adequate supply, demand, the recent downstream procurement in general, acetic anhydride sales pressure, acetic anhydride market negative impact is greater. Overall, acetic anhydride market is mixed, the cost of acetic anhydride increased, acetic anhydride decline space is limited, acetic anhydride supply is sufficient, downstream demand in general, overall oversupply, acetic anhydride market is more than good, but acetic anhydride drop space is limited, the overall shock stability is expected after the price of acetic anhydride.

PVA 1788 (PVA BP17)

India stopped importing crude oil from Iran this month after the United States ended sanctions exemptions, followed by pressure from higher import prices.

PVA FIBER

A senior U.S. official said on the May 6 that the United States could not guarantee that crude oil would be exported to India at a sufficiently favorable price to fill the gap left by the cessation of imports of cheap Iranian oil, the Indian Press Trust reported on 6th. U.S. Commerce Secretary Wilbur Ross reportedly referred to the issue in an interview during a trade forum in India 6th. “Oil is privately owned, so the U.S. government can’t force people to lower oil prices,” he said.

” India is reported to be the world’s third-largest oil consumer, importing to meet more than 80% per cent of its oil needs. Oil imports from Iran have made Indian refiners lucrative, as Iran offers 60 days to buy credit, a preferential condition that other oil suppliers (Saudi Arabia, Kuwait, Iraq, Nigeria, and the United States) cannot offer. In addition, Iran will arrange for oil to be shipped to India, including transportation insurance. If oil is to be purchased from other oil suppliers, including the United States, Indian buyers have to arrange their own transportation and pay for insurance.

PVA 1799 (PVA BF17)

As India has stopped importing crude oil from Iran, it is arranging to import crude oil from Saudi Arabia, Kuwait, the United Arab Emirates, Mexico and other countries to make up for the shortfall in Iran’s oil market. India is the second largest buyer of Iranian crude oil.

As of March 31, India had imported about 24 million tons of crude oil from Iran, while Iran had supplied India with more than 1/10 of its oil demand. Last year, US president Trump withdrew from the Iran nuclear deal signed in 2015 and restarted a series of sanctions against the country, but the United States also granted some countries a six-month exemption from sanctions, provided they needed to reduce their purchases of Iranian oil. The duration of this sanctions exemption is as at May 2, 2019.

PVA 1788 (PVA BP17)