According to statistics, the price trend of domestic ammonium nitrate in this week is temporarily stable. As of the end of the week, the market price of domestic ammonium nitrate is 2300 yuan / ton, which is equal to 2300 yuan / ton at the beginning of the week, up 13.11% year on year. On April 24, the ammonium nitrate commodity index was 121.05, unchanged from yesterday, 3.36% lower than the highest point in the cycle, 125.26 (2020-03-15), and 56.46% higher than the lowest point, 77.37, on October 31, 2016. (Note: cycle refers to 2013-02-01 to now).

This week, the price trend of ammonium nitrate Market in China is temporarily stable. The operation of domestic ammonium nitrate plants is normal. The on-site supply of ammonium nitrate is normal. The price trend of manufacturers is temporarily stable. In the near future, the on-site supply of goods is normal. Transportation has been alleviated to a certain extent. The market price trend of ammonium nitrate is stable. In recent years, the market of ammonium nitrate manufacturers is not good, the downstream purchase is on demand, the domestic ammonium nitrate manufacturers have limited start-up, and the market price trend of ammonium nitrate is stable. Up to now, the mainstream of negotiation in Shaanxi is 2100-2300 yuan / ton, that in Shandong is 2000-2300 yuan / ton, and that in Hebei is 2200-2600 yuan / ton.

The price trend of concentrated nitric acid in China fell this week, with the weekend price of 1500 yuan / ton, and this week’s price trend fell by 1.09%. Jiangsu Hongze Yinzhu Chemical Co., Ltd. offers 1400 yuan / ton; Anhui Jinhe offers 1400 yuan / ton; Shandong helitai offers 1700 yuan / ton. Anhui Aodeli offers 1450 yuan / ton; Wenshui County synthetic chemical offers 1630 yuan / ton. In the near future, the operation of domestic maintenance devices is normal, the supply of concentrated nitric acid market is normal, and the on-site delivery situation is poor. The price trend of nitric acid market has declined by about 50 yuan / ton. The decline of nitric acid price is the negative impact of ammonium nitrate Market, and the price trend of ammonium nitrate Market has been temporarily stable.

The price trend of upstream liquid ammonia fell this week. Affected by the inventory pressure, some manufacturers lowered their prices slightly. In the middle of the week, there was a downward movement with the range of 50-100 yuan / ton. At present, most regions show a trend of high-level decline. On the one hand, the high start-up rate of early manufacturers has accumulated a large amount of inventory. At present, the manufacturers are willing to de stock. On the other hand, the peak season of spring ploughing has passed, and the downstream demand has stabilized, unable to continue to drive the rise of liquid ammonia Market. The procurement strength of downstream nitrogen fertilizer manufacturers is significantly slower than that in March, and most of them are on-demand procurement oriented. At present, the market’s The overall supply and demand is in the balance stage, the upstream raw material price trend falls, and the market price trend of ammonium nitrate is stable.

In the near future, the downstream demand is limited, but the market price of raw materials is slightly lower. For the ammonium nitrate Market, it has lost certain cost support. The ammonium nitrate analyst of the business association thinks that the market price of ammonium nitrate may be slightly lower in the later stage.

1、 Price trend

According to the data monitored by the business club, today’s comprehensive market price is 12100.00 yuan / ton, the PC market is low, the downstream demand is poor, and the transaction atmosphere is flat.

2、 Cause analysis

Products: PC cost is stronger and higher, the market is supported to a certain extent, some manufacturers’ quotations have rebounded slightly, traders are willing to hold prices strongly, they are actively shipping, and the supply of goods is sufficient, but the transaction atmosphere is flat, the demand is weak, and the actual single is discussed.

Industry chain: the upstream bisphenol a market has a high trading volume, strong cost support, and at the end of the month, the traders have a small amount of spot stocks, with the firm price as the main factor.

Industry: on April 26, the rubber and plastic index was 549, the same as yesterday, 48.21% lower than 1060 (2012-03-14), the highest point in the cycle, and 3.98% higher than 528, the lowest point on April 6, 2020. (Note: cycle refers to 2011-12-01 to now)

3、 Future forecast

PC analysts of business club believe that: it is expected that the domestic PC market will fluctuate upward. (the above prices are provided by major PC manufacturers all over the country and analyzed by business PC analysts for reference only. For more details, please contact relevant manufacturers for consultation)

1、 Price trend

According to the data monitoring of business agency, the price of plasticizer DOP fell this week, and the DOP market fell in shock. As of April 26, the price of DOP in East China was 6233.33 yuan / ton, down 2.60% from 6400.00 yuan / ton at the end of last week, down 21.59% from the same period last year.

2、 Industrial chain Market

From the trend chart of plasticizer DOP raw materials, it can be seen that the price of phthalic anhydride and octanol of DOP raw materials fell this week. Influenced by the expectation of crude oil production reduction, the price of phthalic anhydride and octanol rose sharply last week, but the subsequent production reduction agreement was not as expected, the price rise lost support, the downstream demand recovery was limited, the price of phthalic anhydride and octanol fell, the cost of DOP fell this week, the downward pressure of DOP increased, and the DOP market was bearish.

Both PVC and DOP prices fell this week. Crude oil prices fell sharply, PVC costs fell, PVC prices fell, negative for DOP market. The overall DOP demand has picked up, but the overall good is limited and the bad is large.

3、 Future forecast

Bai Jiaxin, data analyst at DOP, a business agency, believes that the sharp drop in crude oil prices this week has led to a decline in the prices of downstream industrial chain products. Phthalic anhydride and octanol prices fell, DOP costs fell, downstream, PVC prices fell, negative for DOP market. On the whole, DOP market bears a lot of negative pressure and lacks the power to rise.

1、 Price trend of epichlorohydrin:

(Figure: P value curve of epichlorohydrin product)

2、 Market analysis:

Product: according to the data of the business club’s large scale list, the market price of epichlorohydrin has risen and fallen as of April 20, with a strong wait-and-see atmosphere. At present, the prices of traders vary. On the 20th, the mainstream prices of epichlorohydrin market were 9200-10300 yuan / ton, up 8.49% compared with April 1 and down 18.33% compared with the same period last year. At present, under the influence of the overall market environment, downstream end enterprises are more afraid of falling and risk averse, and the operators are cautious in participating in, mainly consuming inventory raw materials. The new single high-end negotiation in the epichlorohydrin market is a little weak, and the majority of stable offers are made.

On April 20, the epichlorohydrin commodity index was 69.21, up 0.24 points from yesterday, down 48.24% from 133.71 (2019-10-29), the highest point in the cycle, and up 47.73% from 46.85, the lowest point on September 7, 2016. (Note: cycle refers to 2011-09-01 to now)

Industrial chain: on April 20, the market price of the upstream propylene in Shandong picked up slightly. Last month, the price of propylene in Shandong Province fell in shock. At the end of the month, it fell sharply again, with a monthly decline of more than 15%. On the first day, the price continued to decline by 100-200 yuan / ton, and on the second day, it still declined by 50 yuan / ton. On the third day, the price of some enterprises slightly increased by 50-100 yuan / ton. After the Qing Dynasty, the price of propylene increased steadily. On the seventh day, the price began to rise by 100 yuan / ton, and on the tenth day, it rose by 200-300 yuan / ton, while on the 11th day of Saturday, it rose by more than 1000 yuan / ton. On the 12th day of Sunday, it continued to soar by 1000-5000 yuan / ton, Monday After the sharp rise on weekends, the market may need to digest, the price remained unchanged on the 13th. On the 14th, most of the enterprises’ prices dropped by 1000 yuan / ton, and some of them recovered to the price before the sharp rise. On the 15th, the price dropped by 500-1000 yuan / ton. On the 16th, the price continued to drop by 200 yuan / ton. On the 17th, the price still fell by 400 yuan / ton. On the 18th, Saturday, the price fell again. On the 19th, Sunday, the price remained stable Mainly, today’s price slightly increased by about 50 yuan / ton. Now, the market turnover is between 5850-6100 yuan / ton, and the mainstream price is between 5850-6000 yuan / ton. On the 20th, the cost of downstream epoxy resin weakened, and the downstream mostly purchased on demand, mainly consumed inventory raw materials, and discussed the space of saving and transferring profits through single negotiation.

Industry: according to the price monitoring of the business agency, there are 9 kinds of commodities in the list of rise and fall of bulk commodity prices on April 20, 2020, among which the top three commodities are n-propanol (3.97%), yellow phosphorus (2.82%) and sulfuric acid (2.63%). There are 23 kinds of commodities falling on a month on month basis, with 2 kinds of commodities falling by more than 5%, accounting for 2.2% of the number of commodities monitored in the sector; the top 3 products falling are propane (- 7.64%), ethylene (- 6.42%) and dichloromethane (- 4.52%). The average price of this day was – 0.36%.

3、 Future forecast:

According to epichlorohydrin analysts of business club, it is expected that epichlorohydrin market will wait for consolidation operation in the short term, and more attention should be paid to upstream and downstream information guidance.

1、 Price trend

According to the data of the business club’s bulk list, last week, April 13-17, the domestic adipic acid market did not change much and the market performance was weak. Compared with last week, the market did not improve. Some dealers’ prices kept rising or falling within 100 yuan. Most manufacturers still looked down on the future market and light inventory operation was the main thing. According to the business club’s monitoring, the current quotation range of adipic acid market is 6500-6800 yuan / ton.

2、 Market analysis

In terms of supply and demand, at present, the contradiction between supply and demand in the market is becoming increasingly prominent, and the supply pressure is gradually emerging, mainly because the manufacturers still maintain a high rate of start-up. Although dealers have generally resumed shipment, they still haven’t reached the normal level of shipment, resulting in the gradual increase of inventory pressure of manufacturers. In terms of cost, although pure benzene has rebounded significantly from the beginning of April to now, it has not brought fundamental benefits to adipic acid. On the one hand, the delay of cost transfer, on the other hand, the early stage of pure benzene fell sharply, and the strength of adipic acid falling was limited, so there is still profit space for adipic acid without rebounding at present.

From the perspective of terminal demand, the operating rate of downstream factories has not been significantly improved, plastic products are still in the off-season of consumption, which is difficult to boost the market, polyurethane and PA66 and other downstream products have not come out of the dilemma, and the price is still in the low position. As a result, the shipment of adipic acid is not ideal, the inventory is difficult to digest, the manufacturers have a lot of inventory pressure, and dealers generally go with the market and purchase on demand. In addition, in addition to the weak domestic demand, the external demand has also worsened, especially affected by the overseas epidemic, the external demand has decreased, and the pressure on adipic acid export has continued to increase, which does not rule out the possibility that the inventory will continue to rise in the later period.

3、 Future forecast

In the later stage, the business community predicted that the current chemical cost end crude oil price continued to operate at a very low level, although the price of pure benzene rebounded, it was still at a relatively low level in history, and the upstream bad news was still an important factor restricting the adipic acid market, more importantly, it was affected by the weak market demand, especially the overseas epidemic situation was not effectively controlled, foreign orders were sharply shrinking, and the adipic acid export was ready Hit, comprehensive consideration, adipic acid should maintain a downturn in the near future.

1、 Price trend

Titanium dioxide prices fell this week, according to commodity data monitoring. At the beginning of the week, the average price of domestic titanium dioxide was 15733.33 yuan / ton, and at the end of the week, the average price was 15433.33 yuan / ton.

2、 Market analysis

Products: since April, the main force of titanium dioxide in China has been stable, and the factory price of some manufacturers has fallen. Affected by the foreign epidemic situation, the domestic titanium dioxide price entered a weak consolidation stage this week. The price of domestic rutile titanium dioxide is 14000-16300 yuan / ton, that of anatase titanium dioxide is 12500-13000 yuan / ton, and that of chlorination titanium dioxide is 18500-21000 yuan / ton. Affected by the domestic and foreign epidemic situation, the domestic downstream recovery is not as expected, and foreign export orders are seriously hindered. Titanium dioxide market as a whole is weak. The price of raw material titanium ore is high, and the cost pressure of titanium dioxide enterprises is high. The enterprises will reduce the operating rate through adjustment, so as to reduce the comprehensive market supply, reduce the social inventory, and relieve the double pressure of sales and inventory.

Industry chain: prices of some titanium concentrates in Panxi fell this week. Due to the substantial increase in the early operating rate, the market supply is relatively sufficient, and the actual single price of some medium and concentrate suppliers is reduced. In the near future, the demand of the downstream market is poor and the wait-and-see mood is strong. The market operating rate may be lowered. At present, the price of 38 titanium ore is 850-870 yuan / ton, 46, 10 titanium ore is 1400-1470 yuan / ton, 47, 20 titanium ore is 1500-1550 yuan / ton. According to analysts of titanium concentrate of business association, with the reduction of operation rate and the impact of the epidemic, the import supply is tight, and the actual price of the miner is more flexible. In the short term, titanium concentrate is mainly in high-level operation.

3、 Future forecast

Titanium dioxide analyst of business association thinks: affected by the epidemic, titanium dioxide industry exports are blocked, domestic market demand is not as expected, and the current demand market is not optimistic. The price of raw titanium ore is high, and the cost pressure of titanium dioxide enterprises is high. In the short term, the price of titanium dioxide has stabilized, with some manufacturers and brands slightly declining, and the actual operation is dominated by a single negotiation.

1、 Price trend

According to the price monitoring of the business agency, the selling price of sulfuric acid in Shandong fell slightly this week, with the quotation dropping from 330.00 yuan / ton at the beginning of the week to 313.33 yuan / ton at the end of the week, down 5.05%, 11.11% year-on-year. Overall, the sulfuric acid market fell slightly this week, with the sulfuric acid commodity index at 48.77 on April 10.

2、 Market analysis

（1） Products:

This week, the price of the mainstream sulfuric acid manufacturers in Shandong Province fell slightly, the inventory of manufacturers was small, and the downstream demand was general. The weekend quotation of Heze Jiangyuan is 300 yuan / ton, which is 50 yuan / ton lower than that at the beginning of the week; the weekend quotation of Zouping Tianlu is 190 yuan / ton, which is temporarily stable compared with that at the beginning of the week; the weekend quotation of Jinan Yuanfei is 450 yuan / ton, which is temporarily stable.

（2） Industrial chain:

In recent years, the domestic sulfur and diammonium market has been highly consolidated, which has brought certain benefits to sulfuric acid, but the downstream monoammonium market has gradually declined, which has a negative impact on sulfuric acid. This week, the sulfuric acid plant operated smoothly, the enterprise started normal operation in a short period, and the supply was slightly tight.

3、 Future forecast

In the middle of April, the sulfuric acid Market in Shandong Province mainly fluctuated. The sulfur price in the upstream is high and consolidated, showing signs of decline. The demand in the downstream is general, and the product trend is downward under the contradiction between supply and demand. According to analysts of business association sulfuric acid, under the influence of supply and demand and raw materials in Shandong market in the short term, sulfuric acid market may decline slightly.

1、 Price trend

The domestic methanol market is mainly strong. According to the price monitoring of the business agency, the average price of the domestic methanol market on April 1 was 1600 yuan / ton, and the price of the domestic methanol market on April 14 was 1790 yuan / ton, up 11.80%. The price fell 2.85% month on month, 27.00% year-on-year.

2、 Market analysis

Product: methanol market is higher, while port operation is weaker. At the beginning of the week, the northwest main production area operated at a high price, and some enterprises around the Bohai Sea had little inventory pressure, some enterprises around the Bohai Sea actively pushed up, and the overall trading atmosphere of the market was OK. However, at present, the downstream receiving sentiment in some regions is general, the demand side support is limited, and the operators are cautious in their operation attitude. In addition, today’s futures are falling, and the wait-and-see sentiment in some markets dominates. On the port side, the futures are weak and volatile, the spot price of the port is weak, the regional buying is light, there is occasional demand for short covering, and the trading is slightly deadlocked.

Industry chain: formaldehyde: domestic formaldehyde market is rising steadily. Shandong Province is in stable operation; Hebei Province is up 10 yuan / ton and the market is on the lookout; South China is up 50 yuan / ton and the transaction is light. Although the market quotation has increased to varying degrees, it is mostly driven by the upstream methanol price, and the formaldehyde on-site trading atmosphere still continues the previous weak market. The downstream demand is limited, and some enterprises are affected by safety inspection and operate at low load.

Acetic acid: the domestic acetic acid market is still rising, and the low-end supply in Shandong and Henan is up by offer, but at present, the domestic acetic acid supply is sufficient. The downstream acetic acid purchase enters the digestion stage, and the middlemen purchase rationally, and the new orders in the market are generally closed. The maintenance of Jiangsu Thorpe acetic acid plant is likely to be delayed, the inventory of each manufacturer is not low, and the acetic acid market has no obvious favorable support, so we will wait and see whether the downstream receiving situation can continue to provide support.

Dimethyl ether: the domestic market for dimethyl ether has a fair trading atmosphere, but the price changes little, and the market is more stable. At present, the transaction reference of Henan main production area is 2600-2750 yuan / ton, the quotation of mainstream enterprises is stable, and other enterprises are mainly flexible to adjust.

3、 Future forecast

View of Business Club: the methanol analysts of business club predict that the short-term domestic methanol market may be dominated by narrow range shocks. In the later stage, we still need to pay attention to the external macro factors, the market entry mentality, the futures market trend, the upstream and downstream inventory and freight level.

On April 9, the OPEC + special meeting came to an end. Its production reduction was lower than the market expectation. Oil prices fell again. WTI settlement in the United States was 22.76 yuan / barrel, down $2.33. Brent crude settled at $31.48 a barrel, down $1.36. Crude oil jumped up and down in the market, first rising and then falling. During the meeting, WTI rose to $28.36/barrel, or 12%. Later, OPEC + announced the details of production reduction, and market participants turned to bearish, doubting whether the production reduction could be large enough to cope with the decline in demand caused by coronavirus. Crude oil reversed its previous gains and fell more than 9%.

The details of the novel coronavirus pneumonia agreement are as follows: OPEC, a OPEC and its allies, agreed to cut production by 10 million barrels per day in May 2020 and June to help support oil prices hit by the new crown pneumonia epidemic. It is also confirmed that the production will be reduced by 8 million barrels / day from July 2020 to December, and 6 million barrels / day from January 2021 to April 2022. OPEC also said it would hold its next video conference on June 10 to assess market conditions.

The market generally does not buy this result, and was earlier boosted by the news of production reduction, and the market has digested the benefit in advance. On the eve of the meeting, the market has been concerned about whether the meeting can reach an agreement to reduce production by 10-15 million barrels / day. There is also general confidence in the intensity of OPEC + production reduction. The U.S. energy secretary also publicly said that OPEC + may achieve a record production reduction this time, but in terms of the details of the announced production reduction, it is obviously not up to market expectations. During the meeting, OPEC + paid special attention to whether non OPEC countries such as the United States, Canada and Norway would take production reduction actions, but there is no public conclusion in this regard. This is a hidden danger to the implementation of OPEC + production reduction in the later stage.

From the perspective of demand, at present, the global epidemic is still in the stage of rapid spread. Market experts generally believe that it may last for a long time in the later period. Some institutions predict that the decline of crude oil demand in April will exceed 20 million barrels / day, or even 30 million barrels. The reduction of demand is used to measure the output reduction of OPEC +, and this agreement obviously does not have a turning force on the market. In addition, at present, we need to consider the issue of inventory. At present, the global crude oil inventory has risen to a record high. In the next few days, the global crude oil storage capacity may be exhausted, which is very unfavorable to the oil price. The business community expects that the oil price will remain low in the near future. In the medium and long term, it depends on the development of the epidemic situation. In the context of the contraction of economic activities in Europe and the United States, it is difficult for the oil market to be fundamentally good.

1、 Price trend

According to the data of the bulk list of business agencies, PA66 market continued to move in the first half of April, and the prices were mostly reduced. As of April 10, the average price of the mainstream offer of PA66 is about 21000.00 yuan / ton, which is 3.89% lower than the average price at the beginning of the month.

Analysis of influencing factors:

The adipic acid Market in the upper reaches of PA66 is flat at present. Last month, the adipic acid market plunged, and the spot price mostly adjusted downward. Influenced by the sharp reduction of settlement price and the listing price in April, adipic acid prices have been lower through sales. At present, the market is still generally affected by public health events, supply and demand are not strong, and transaction is frozen. Inventory overstock and weak demand are the main negative factors of adipic acid price weakness. On the cost side, the price of pure benzene recovered under the influence of recent international crude oil rebound, but it is still at a low level, with limited support for adipic acid market. The downstream construction load still needs to be further improved, and it is difficult to expand the demand side. In terms of inventory, the social inventory pressure increases, and the resistance of adipic acid export is also large. It is predicted that the price of adipic acid will not improve in the short term;

The upstream adipic acid has poor support for PA66 cost side, and the market price of PA66 continued to weaken in early April, with a relatively negative market side. In terms of supply, the spot performance of PA66 is sufficient, and the starting load of downstream plants is low. In the background of the market, the imbalance between supply and demand has been maintained. The on-site trading is dominated by rigid demand, with few trading information and no large-scale stock.

Future forecast:

Business analysts believe: in early April, the domestic PA66 market continued to adjust its weakness. The spot price of adipic acid in the upstream is stable at a low level, which has poor support for PA66 cost side. The return rate of downstream factories needs to be improved. The replenishment operation is rigid and the demand is very limited. The market atmosphere is oversupplied, and the industry has insufficient confidence in the future market. It is expected that PA66 market will not improve in the short term.