August 21 Asian p-xylene market closing price rose 3 US dollars / ton, the closing price of 807-809 US dollars / ton FOB Korea and 825-827 US dollars / ton CFR China.

LONDON (Reuters) – London Metal Exchange (LME) climbed to its nearly 10-year high on Monday as speculative buying was expected for a serious shortage of supply this year, but technical could limit gains.

London time on August 21 17:00 (Beijing time on August 22 00:00), three-month zinc closed up 0.1 percent at $ 3,125.5 per tonne, once hit the highest since October 2007 the highest price of $ 3,180.5 The

“There is a lot of buoyant buying in the market,” says Eugen Weinberg, an analyst at Commerzbank. “There may be price corrections, because price levels at these levels may mean that the closed capacity will recover.”

“Weak demand and higher supply in the medium term mean that the current price level is difficult to maintain.”

International Lead and Zinc Research Group (ILZSG) said that the first half of this year, zinc market supply shortage of 203,000 tons, as of the end of June the total inventory of 1.16 million tons, lower than the end of March 135.5 million tons.

In a recent survey, analysts on average expected zinc city this year will be in short supply of 412,000 tons.

From a technical point of view, the price of zinc support at 2,900 US dollars, the first on the file resistance for the Fibonacci retracement 3,200 US dollars.

Monday LME zinc stocks were 247,850 tonnes, down more than 40% from the beginning of the year. Cancellation of warehouse receipts close to 50%, also raised the LME market supply shortage concerns.

Concerns about tight supply in the market narrowed the spot zinc contract by more than three months of futures premium, from early April to more than $ 27 per ton narrowed to nearly $ 7.

Other metals, the three-month copper closed up 1.6% at $ 6,586 per tonne.

It is reported that the free port of Indonesia branch Grasberg mine is expected to resume output.

Three-month nickel closed up 3% at $ 11,315 a tonne, up from $ 11,355 in mid-December.

LME data show nickel out of the warehouse receipts rose sharply to 35%, nickel prices rose.

Concerns about nickel supply to the world’s largest nickel ore exporter – nickel prices in support of nickel prices this year. The same time as

Three-month aluminum closed 0.9% higher at $ 2,081 a tonne, and China’s environmental remediation boosted aluminum on the previous period at $ 2,112, the highest in September 2014.

Spot aluminum premiums were $ 9.50 per tonne on Wednesday. A month ago for the premium $ 26.

International Aluminum Association (IAI) data released on Monday, in addition to China, the global average daily production in July 70,100 tons of aluminum, flat in June. Excluding China, global aluminum production in July was 2,373,000 tonnes, up from 210.2 million tonnes in June.

China’s daily production of aluminum in July fell to 86,600 tons, in June to 97,700 tons.

Three-month lead fell 0.6% to $ 2,348.

Three-month tin closed up 1.3% at $ 20,500 a tonne.

August 21 CFR China ethylene glycol offer up, reported 875 US dollars / ton, compared with the previous day raised 10 US dollars / ton.

First, the price trend

Butadiene market this week, the overall market rose broadly. The price of butadiene is 8867 yuan / ton, as of August 18, butadiene price of 9621 yuan / ton, the week rose 8.49%, prices rose 13.47% over the same period last year.

Second, the impact of factors

Products: Butadiene outside the trend continued upward this week, synthetic rubber market offer continued to pull up, strong performance of the rubber industry chain, butadiene market to promote the formation of the market. Week Sinopec sales company price increase this week, 700 yuan / ton to 9800 yuan / ton, northeast manufacturers have raised the price of two nodes, low inventory support industry mentality. Demand surface performance is stable, the real impetus is limited, the downstream mentality gradually return to caution, high-priced transactions have resistance to just want to buy the main.

Industrial chain: rubber industry chain continued upward trend, synthetic rubber market continues to pull up, coupled with the Northeast manufacturers to maintain low inventory, butadiene market is still good support. Shandong Witt Chemical Butadiene plant recently restart, the latter part of the export may be, in late August in early September a large number of cargo arrived in Asia, the spot tension or supplement, there are negative factors.

Macro: July 2017, the business community commodity supply and demand index (BCI) 0.39, were up 2.47%, reflecting the month of the manufacturing economy was expanding last month, the economy running smoothly.

Third, the market outlook forecast

The current downstream to consume pre-inventory-based, high resistance to the price, but by the tight supply and supply side price increase boost, the business community butadiene analysts expect domestic butadiene next week, gains.

First, the price trend

According to the survey data show that the weekend weekend BDO price of 11200 yuan / ton, the price rose 33.86% over the same period last year.

Second, the market analysis

Products: This week, the domestic BDO market narrow order, the market supply support is insufficient, the supply operating rate remained at 6 percent near the week, the East source, integration and long still still stop, but the overall supply of little impact on the market supply performance Adequate, factory insured under the intention of the offer temporarily cautious strong, but the demand for performance in general, some manufacturers higher inventory.

Industrial chain: the demand for downstream polyurethane industry this week has rebounded, but the impact of environmental protection by the environmental impact of the existence of parking correction phenomenon, the market follow-up good general, but the general trend of polyurethane raw materials under the tide, BDO manufacturers expected strong, but supply and demand Saw the game, who is still on the sidelines to wait and see supply and demand changes.

Macro: July 2017, the business community commodity supply and demand index (BCI) 0.39, were up 2.47%, reflecting the month of the manufacturing economy was expanding last month, the economy running smoothly.

Third, the market outlook forecast

On the whole, the market supply and demand saws still exist, the supplier to make the price cautious, but good hard to find, the market can not help but still weak part of the expected. Business community BDO analysts believe that next week BDO market narrow range of weak operation, the main business single bulk offer maintained at 11,000 yuan / ton.

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