1、 Price trend

According to the data in the business club’s bulk list, the price of domestic isomeric xylene market fell sharply this week, down 5.61% on last week as of Friday.

2、 Analysis and comment

1. Products: Due to the collapse of OPEC + production reduction agreement between OPEC and Russia, coupled with the continuous spread of overseas epidemics, and the fear of shrinking crude oil demand, the international crude oil price fell sharply this week, as well as the price of xylene in South Korea market. Although domestic enterprises gradually entered the resumption period and the market demand gradually improved, the price of domestic isomeric xylene still followed the decline. At present, in East China The main price is about 4900 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, the international oil price rebounded at the beginning of this week and fluctuated steadily. As of Friday, Brent futures rose 2.01%, Brent futures rose 2.94%, WTI futures rose 2.49% and Dubai futures rose 3.65%.

Downstream, in PX market, this week, the price of domestic Sinopec’s enterprises is about 6200 yuan / ton, and the latest price on the outside market is about 665 US dollars / ton for FOB South Korea and 683 US dollars / ton for CFR China. It is expected that PX market price will stabilize after the bottom is reached next week. In terms of PTA market, the spot market price of PTA in China is about 4250 yuan / ton, and the external market price is about 552 US dollars / ton CFR China. It is expected that PTA price will stabilize after the bottom is reached next week. In the ox market, Sinopec’s price of o-benzene fell, with the price between 5600-5800 yuan / ton. The external price of o-benzene is about 720 US dollars / ton FOB South Korea. It is expected that o-benzene will stabilize after bottoming out next week.

3、 Future forecast

According to xylene analyst of business and chemical branch, we will continue to focus on the news of OPEC + production reduction agreement next week, worries about the global economy due to the continuous spread of overseas epidemic, the trend of international crude oil and the progress of downstream enterprises’ resumption of work. On the whole, it is expected that the price of isomeric xylene in the international crude oil market and South Korean market will rebound in the next week, adding that domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. It is expected that the price of isomeric xylene in the domestic market will stabilize in the next week.

1、 Price data

According to the price monitoring of the business agency, the price of gasoline and diesel fell this week. The price of domestic gasoline was 5962 yuan / ton, 2.56% lower than that of last week. The price of domestic diesel was 5960 yuan / ton, 1.36% lower than that of last week.

2、 Analysis of influencing factors

Products: OPEC + cooperation collapsed, oil prices plummeted by more than 20%, which was bad for the refined oil market, and offset the good demand brought by the resumption of domestic enterprises. The price of the refined oil market continued to fall.

Industry chain: OPEC held a ministerial meeting on the 5th, and decided to recommend OPEC and non OPEC oil producing countries to implement an additional production reduction of 1.5 million barrels per day until the end of this year. However, Saudi Arabia lowered the OSP price of all markets in April, and the collapse of OPEC + cooperation triggered a punitive drop in oil prices. On March 6, WTI crude oil futures market in the United States plummeted, with major contracts at US $41.28/barrel. As of 11:00 on September 9, the market price of China’s WTI crude oil futures fell to $30 / barrel.

Market: with the increasing number of Chinese enterprises returning to work this week, the demand of refined oil market is developing well. However, with the collapse of OPEC + cooperation, the crude oil market is bearish in the future, and the resistance of customers in the middle and lower reaches appears. The market is mostly in a wait-and-see attitude, and the refinery’s shipment volume is less than the output, so the refinery’s shipment is blocked, so the oil price began to be lowered to stimulate the downstream delivery. The sharp drop of international oil price offsets all the positive effects, and the decline of refined oil market is dominant.

3、 Future forecast

Lu Xingjun, an oil product analyst with business club, believes that: the price of the international crude oil market has plummeted, and the domestic oil product market is bound to make up for the drop. It is expected that the price of the oil product market will mainly fall in the near future.

1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market has shown a downward trend in recent days. The average price of ethylene on the 6th was 749.75 US dollars / ton, 2.79% lower than the price of 771.25 US dollars / ton on the 2nd, and the current price is 27.98% lower than that of last year.

2、 Market analysis:

Product: ethylene has declined in recent days. Asian ethylene market prices fell, as of the 6th, CFR Northeast Asia closed at $693-699 per ton, and CFR Southeast Asia closed at $687-695 per ton. The price of European ethylene market fell slightly. As of the 6th, the price of European ethylene market was FD, northwest Europe closed at US $853-863 / T, and CIF northwest Europe closed at US $752-760 / T. The price of ethylene in the U.S. picked up slightly. As of the 6th, the price was US $306-324 / ton. Overall, the market of ethylene in Europe and the United States has been declining in recent years. Only after the U.S. ethylene market fell to the lowest point, it picked up, but it is still at a low level. The demand of the whole ethylene market is weak and falling. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on March 5, New York Mercantile futures exchange, West Texas light oil futures settlement price in April 2020 was $45.90 per barrel, down $0.88 or 1.9% compared with the previous trading day, while Brent crude oil futures settlement price in May 2020, London Intercontinental Exchange, was $49.99 per barrel, down $1.14 or 2.2% compared with the previous trading day, and crude oil continued to fall sharply, with respect to ethylene Prices can not play a supporting role, the ethylene market fell. The lower price of styrene and the sharp decline of ethanol market in the downstream cannot support the price of ethylene, and there is a possibility of further decline.

3、 Future forecast:

According to ethylene analyst of business and chemical branch, oil futures closed lower on Thursday recently, among which Brent crude oil, as the international crude oil price benchmark, fell below the $50 threshold to the lowest level since 2017. Unable to support the price of ethylene, so business analysts expect the price of ethylene to keep a narrow decline in the future.

Polysilicon price trend

1、 Price trend

This week (2.24-27), the domestic polysilicon market is still weak, affected by the epidemic, the orders of manufacturers further shrink, but the market price changes little this week, and the market mostly implements the early order price. Polysilicon rose or fell by 0 this week, according to the business news agency.

2、 Market analysis

From the perspective of demand, the market atmosphere is relatively low, and the downstream operating rate is not high. In terms of market supply, at present, some polysilicon manufacturers are shut down, and the overall domestic operation rate remains at 70-80%. There are 7 domestic enterprises maintaining full load operation, 4 enterprises reducing load operation and 1 normal maintenance enterprise. At present, the manufacturers mainly execute the early orders, and the orders are signed in February, some of them are signed until March. In addition, the market is limited by the transportation, and the transportation cost has increased, so the delivery speed of the manufacturers has decreased. The market demand is not active, and the downstream construction has not yet recovered to the pre Festival level. In the case that the market supply and demand do not fluctuate significantly and the early mainstream price has been set, the replenishment price is mostly determined by the mainstream order. In addition, the new order has been compressed. According to the monitoring of the business society, the domestic mainstream transaction price of polysilicon with the model of primary solar material is currently 51000-53000 yuan / ton.

3、 Future prospects

In the future, the business community believes that the supply and demand of polysilicon are not strong at present. On the one hand, it is affected by the epidemic situation, and on the other hand, the export of downstream components of polysilicon is affected to some extent. Overseas anti-dumping policies are emerging in an endless stream, and both domestic and foreign demand are not optimistic. However, with the resumption of more and more enterprises, the demand for polysilicon raw materials is expected to increase. It is expected that the polysilicon market will pick up in the medium term, and the price is expected to rebound slightly.

1、 Trend analysis

China’s domestic copper price fell slightly this week. The average price of domestic spot copper at the beginning of the week was 45548.33 yuan / ton, compared with 44746.67 yuan / ton at the weekend, down 1.76%, down 10.39% year-on-year.

2、 Market analysis

Copper and copper price: this week, Shanghai copper index rebounded and suffered a setback. The price fell sharply from the high level to 44450 yuan, down 1580 yuan, or 3.43%. This week, LME’s March copper unilateral decline approached the low point at the beginning of the month, closing at $5547.5, down 3.77% on a weekly basis.

In the week, the global copper market inventory increased significantly, the domestic social inventory exceeded 400000 tons, and the Lun copper inventory exceeded 220000 tons, and the high inventory suppressed the copper price. In addition, the operating rate of non-ferrous enterprises is rising, and the capacity utilization rate of copper production enterprises returning to work is gradually rising, but there is high storage pressure, and the weak demand continues. Although smelters are expected to reduce production, there are more concerns about the short-term contraction of copper market demand, or prices will be suppressed.

3、 Future prospects

According to the above situation, copper analysts of nonferrous branch of business society think: the recovery of downstream consumption is slow, but traders are optimistic about the downstream resumption of work and logistics, and the overall transaction is average. At present, the pressure of high inventory is still outstanding, overseas demand is affected by the epidemic, and domestic terminal consumption is still recovering. Copper prices are expected to remain weak in the short term.

1、 Price trend

According to commodity data monitoring, the price of Yungui yellow phosphorus rose this week. The average price of yellow phosphorus at the beginning of the week was 17533.33 yuan / ton, and the average price at the end of the week was 17700 yuan / ton. The price rose within the week by 0.95%.

2、 Market analysis

Product: yellow phosphorus market price increased this week. At present, the main quotation of yellow phosphorus in Yunnan is about 17600 yuan / ton. The main quotation in Sichuan is about 17500 yuan / ton. The main quotation of yellow phosphorus in Guizhou is about 18000 yuan / ton. This week, yellow phosphorus enterprises are still at a low starting point, the spot market is still in short supply, the downstream enthusiasm to take goods has increased, and the market quotation has increased.

Industrial chain: the upstream phosphorus ore market started slowly, most of the on-site enterprises have not resumed production, and the overall start-up remains low. At present, in Guizhou Province, the price of phosphate rock in Fuquan Huifa Mining Co., Ltd. is stable. The price of 30% grade phosphate rock car board is 350 yuan / ton; the price of 28% grade phosphate rock car board is 310 yuan / ton; the reference price of 30% grade phosphate ore train platform in Kaiyang Guanglong Mining Co., Ltd. is 350 yuan / ton. Hubei Province: the reference price of 28% grade phosphorus ore in Liushugou is 380-390 yuan / ton, and the reference price of 30% grade phosphorus ore is 430-440 yuan / ton. According to the data monitoring of the business association, the start-up of coke enterprises continued to increase, and the mainstream price of secondary metallurgical coke in Panzhihua coke market in Sichuan Province was 2080 yuan / ton; the mainstream price of secondary metallurgical coke in Liupanshui coke market in Guizhou Province was 2170 yuan / ton, with slight increase. The number of start-up enterprises in the downstream phosphoric acid market has increased gradually, and the trading situation in the phosphoric acid market has improved significantly. The phosphate Market has improved, and the number of start-up enterprises has increased.

3、 Future forecast

According to the yellow phosphorus analysts from the chemical branch of business society, the market price of yellow phosphorus continued to rise this week, the pace of downstream enterprises returning to work accelerated, the enthusiasm for taking goods increased, and the on-site yellow phosphorus trading improved significantly. On the whole, the current yellow phosphorus trading atmosphere is good. In the case of tight supply, there is no lack of high price in the downstream. It is expected that the yellow phosphorus price will continue to rise slightly next week.

1、 Price trend

According to the price monitoring of the business agency, the comprehensive price of hydrochloric acid in North China this week was temporarily stable, with an offer of 243.33 yuan / ton, a year-on-year increase of 143.33%. Overall, this week’s hydrochloric acid market is temporarily stable, February 28 hydrochloric acid commodity index is 64.03.

2、 Market analysis

（1） Products:

This week, the quotation of hydrochloric acid market manufacturers is stable temporarily, and the overall market is average. Dezhou Shihua hydrochloric acid quotation is 300 yuan / ton, which is temporarily stable; Wenshui synthetic hydrochloric acid weekend quotation is 230 yuan / ton, which is temporarily stable compared with the beginning of the week; Jinan Yuanfei hydrochloric acid weekend quotation is 450 yuan / ton, which is temporarily stable compared with the beginning of the week; Dezhou Maihua hydrochloric acid weekend quotation is 50 yuan / ton, which is temporarily stable compared with the beginning of the week.

（2） Industrial chain:

The upstream liquid chlorine market is generally weak in support of hydrochloric acid, while the downstream dyes, calcium chloride and chloroethane are still mainly purchased according to early demand. Hydrochloric acid market as a whole seems to be declining, and by-product acid is still hitting the market. The pressure of hydrochloric acid delivery is relatively high, and the quality of by-product hydrochloric acid produced by TDI, chloropropene, propylene oxide and methane chloride is relatively good. On the whole, the difficulty of hydrochloric acid delivery is still a big problem.

3、 Future forecast

After the adjustment in February, the capital return of each plant is in good condition, the equipment maintenance is completed, and the production capacity is increased. Business analysts believe that: upstream liquid chlorine Market in the near future is general, downstream rare earth, fuel demand is weak. Business analysts believe that the recent low consolidation of hydrochloric acid.