1、 Price trend

Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market remained stable with small fluctuations in August. On August 1st, the average price of titanium dioxide was 15783.33 yuan/ton, and on August 29th, it was 15750 yuan/ton, with a price reduction of 0.21%.

2、 Market analysis

In August, the domestic titanium dioxide market was mainly stable, with little upward fluctuation in market prices. In the first half of the year, the price of raw material titanium concentrate continued to rise, and the price of sulfuric acid remained high and firm. Longqi had more orders on hand, and the new order quotation was slightly increased. Most manufacturers’ quotations were mainly stable. The production cost pressure of titanium dioxide is still significant due to the influence of raw materials. Mid month manufacturer quotations are mainly stable, while on-site quotations are relatively flexible. In the latter half of the year, terminal demand continued to be poor, with stable quotes from manufacturers and flexible quotes from traders. The market had a strong wait-and-see attitude, and trading conditions were light. As of now, the domestic quotation for sulfuric acid method pyrite type titanium dioxide is mostly between 14800-16300 yuan/ton; The quotation for rutile titanium dioxide is mostly around 14200 yuan/ton; The quotation for chlorinated titanium dioxide is mostly around 18000 yuan/ton. The actual transaction price is negotiable.

According to customs data, the import volume of titanium dioxide in China in July 2024 was 9089.08 tons, a year-on-year increase of 13.36% and a month on month increase of 20.42%; Among them, the import of sulfuric acid titanium dioxide in July was 3055.21 tons, an increase of 3.18% compared to the previous month; In July, the import of titanium dioxide by chlorination method was 6033.87 tons, a month on month increase of 31.56%. From January to July 2024, China imported a total of approximately 56800 tons of titanium dioxide, a year-on-year increase of 41.09% compared to last year, with an increase of approximately 16500 tons in import volume; From January to July, a total of 17100 tons of sulfuric acid titanium dioxide were imported; From January to July, a total of 39700 tons of chlorinated titanium dioxide were imported.

According to customs data, China’s titanium dioxide exports in July 2024 were 159600 tons, a decrease of 49% compared to the previous month and an increase of 17.50% compared to the same period last year; In July, the export of sulfuric acid titanium dioxide was 134200 tons, a decrease of 8.66% compared to the previous month; In July, the export of chlorinated titanium dioxide was 25500 tons, a decrease of 13.67% compared to the previous month. From January to July 2024, China’s cumulative export of titanium dioxide was about 1.1322 million tons, an increase of 16.47% year-on-year, and the export volume increased by about 160100 tons; From January to July, the cumulative export of sulfuric acid titanium dioxide was 924000 tons; From January to July, the cumulative export of chlorinated titanium dioxide was 208300 tons.

According to customs data, China imported 463900 tons of titanium ore in July 2024, a year-on-year increase of 18.34% and a month on month increase of 53.82%, with a monthly average price of 299.31 US dollars per ton; From January to July 2024, China imported a total of approximately 269.09 tons of titanium ore, a year-on-year increase of 4.61%, with an increase of approximately 118700 tons in import volume.

In July 2024, China exported 1888.97 tons of titanium ore, a year-on-year increase of 86.84% and a month on month decrease of 79.32%; From January to July 2024, China’s cumulative export of titanium ore was about 46200 tons, an increase of 159.10% year-on-year, and the export volume increased by about 28300 tons.

3、 Future forecast

The titanium dioxide analyst from Shengyi Society believes that the price of titanium concentrate has remained firm this month, while the price of sulfuric acid has risen, putting pressure on costs. Downstream market demand remains weak. It is expected that the titanium dioxide market will continue to remain stagnant in the short term, depending on downstream market demand, and the actual transaction price will be negotiated on a case by case basis.

Price trend

According to the Commodity Market Analysis System of Shengyi Society, the market price of formic acid first rose and then fell this month. As of August 27th, 80% of domestic manufacturers and traders’ mainstream offer prices for formic acid are around 2628 yuan/ton, a decrease of 4.22% from the beginning of the month. The highest price point appeared in the middle of this month at 2722 yuan/ton, and the lowest point appeared at the end of the month at about 2628 yuan/ton.

On the demand side: There is no positive news in the downstream product market, and the overall market is dominated by replenishment of essential needs. The support for pharmaceuticals and pesticides has weakened, and the demand in the leather industry is poor. Overall demand support is stable.

In terms of cost: With the continuous increase in operating rate and import volume, the supply of raw material methanol is sufficient. As of around August 27th, the domestic methanol production is 2500 yuan/ton.

Market forecast: The supply of formic acid in the market is not satisfactory, and the actual situation of downstream procurement is average. It is expected that the price will fluctuate slightly to maintain stability.

According to the monitoring of the commodity market analysis system of Shengyi Society, lithium carbonate continued to decline at the end of August. On August 23rd, the average domestic mixed price of industrial grade lithium carbonate was 81600 yuan/ton, a decrease of 8.93% compared to the average price of 89600 yuan/ton on August 1st. On August 23rd, the average domestic mixed price of battery grade lithium carbonate was 84400 yuan/ton, a decrease of 8.16% compared to the average price of 92200 yuan/ton on August 1st.

It is worth noting that although the spot market continues to decline, lithium carbonate futures rebounded strongly this week (08.19-08.23), rising strongly for three consecutive trading days, and the spot trading atmosphere has also improved accordingly.

Supply side: Mines have no plans to reduce production, and the rebound in futures prices will stimulate smelters’ enthusiasm for hedging production. Recently, some low-grade lithium mines from Africa have arrived at ports one after another, and the pattern of oversupply is difficult to reverse.

On the demand side: According to data from the China Association of Automobile Manufacturers, from August 1st to 11th, the retail sales of new energy passenger vehicles reached 274000 units, a significant increase of 57% year-on-year and a month on month growth rate of 25%. Since 2024, the retail sales of new energy passenger vehicles have reached 5.263 million units, a year-on-year increase of 35%. With the increase in sales of new energy vehicles, the demand for lithium carbonate will also rise.

The lithium carbonate analyst from Shengyi Society believes that the current excess pressure in the lithium carbonate market is obvious, but the futures market is rising and demand is increasing. It is expected that the short-term lithium carbonate price will remain in a wait-and-see situation and maintain a low consolidation.

According to the Commodity Market Analysis System of Shengyi Society, the price trend of acetic acid remained stable this week. As of August 18th, the average market price of acetic acid was 3375 yuan/ton, which was the same as the beginning of the week price of 3375 yuan/ton, with a month on month increase of 0.75%.

This week, the acetic acid market remained stable with small fluctuations, with stable enterprise quotations being the main factor. On the supply side, the utilization rate of acetic acid production capacity has declined, but due to poor demand performance, downstream inventory consumption is the main factor, and on-site trading is limited, offsetting the benefits brought by equipment maintenance. Only some areas have slightly increased, and the acetic acid market as a whole is stabilizing.

As of August 18th, the market prices of acetic acid in various regions are as follows:

Region/ August 12th/ August 18th/ Rise and fall

South China region/ 3225 yuan/ton/ 3275 yuan/ton/ 50

North China region/ 3275 yuan/ton/ 3300 yuan/ton/ 25

Shandong region/ 3325 yuan/ton/ 3325 yuan/ton/ 0

Jiangsu region/ 3200 yuan/ton/ 3200 yuan/ton/ 0

Zhejiang region/ 3300 yuan/ton/ 3300 yuan/ton/ 0

The upstream raw material methanol market first rose and then fell. As of August 18th, the average price in the domestic market was 2411.67 yuan/ton, a decrease of 0.38% compared to the price of 2420.83 yuan/ton on August 12th. The downstream production of methanol has not changed much, and demand remains weak. The recovery of supply side exceeds the loss, and the utilization rate of production capacity has increased. The methanol supply side is negatively affected, and the overall spot price of methanol is weak.

Downstream acetic anhydride prices remain stable and under observation. On August 18th, the average ex factory price of acetic anhydride was 5602.50 yuan/ton, unchanged from the price of 5602.50 yuan/ton on August 12th. The upstream acetic acid market is mainly stable, with average cost support for acetic anhydride. Downstream acetic anhydride follows up as needed, and the market news is quiet. The acetic anhydride market is operating on a wait-and-see basis.

Market forecast: The acetic acid analyst from Shengyi Society believes that the utilization rate of supply capacity is not high, and there is no pressure on manufacturers’ inventory. Manufacturers have a tendency to explore price increases. Currently, downstream companies are adopting a wait-and-see attitude and following up on market demand. There is a supply-demand stalemate in the market. It is expected that the acetic acid market will consolidate and operate in the short term, and downstream follow-up will be closely monitored in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the overall price of sulfur in East China continued to rise in August. On August 16th, the average ex factory price of sulfur in the East China region was 1370 yuan/ton, an increase of 7.45% compared to the average ex factory price of 1275 yuan/ton at the beginning of the month.

The sulfur market continued to rise this week. The load rate of the sulfur industry this week is around 6.5 levels, which has decreased compared to last week. The market supply is low, some refineries are shipping smoothly, inventory is decreasing, sulfur prices continue to rise, and the overall sulfur market situation is mainly stable.

2、 Market analysis

Downstream market trends in the industrial chain:

The downstream sulfuric acid prices have risen. On August 16th, the average domestic sulfuric acid price was 400.00 yuan/ton, an increase of 50 yuan/ton compared to the beginning of the month price of 350.00 yuan/ton, an increase of 14.29%. The manufacturer’s quotation has risen significantly, downstream terminal procurement is active, and the market trading atmosphere is improving. With the dual benefits of supply and demand, the price of sulfuric acid has once again increased.

3、 Future forecast

The sulfur analyst from Shengyi Society believes that sulfur manufacturers have no inventory pressure, and the favorable factors on the demand side have become the key force supporting the sustained improvement of the sulfur market. However, with the continuous rise in sulfur prices, the market has also begun to pay attention to the downstream industry’s acceptance of high priced sulfur. For the prediction of the future sulfur market, we need to closely monitor the reactions of downstream industries.

1、 Price trend

According to data monitored by Business Society, as of August 16th, the average price of industrial grade high-quality cyclohexane in China this week was 7966.67 yuan/ton. The price of cyclohexane remained stable this week, but downstream demand is weak, and overall market shipments are slow. Downstream purchases are mainly for essential needs, and many businesses are adopting a cautious and wait-and-see attitude.

2、 Market analysis

In terms of cost, the upstream pure benzene market is mainly characterized by fluctuating prices, with a stagnant buying trend and a focus on small orders for essential needs. Currently, the upward trend in crude oil prices is driving downstream prices, and the inventory of pure benzene ports is running at a low level. It is expected that the pure benzene market will mainly operate strongly in the short term.

3、 Future forecast

The cyclohexane analyst from Shengyi Society believes that the short-term market price of cyclohexane is expected to remain stable. Currently, the upstream cost side support is average, downstream demand is weak, and the driving force for price increases is limited.

This week, the phthalic anhydride market is weak and temporarily stable

According to the Commodity Market Analysis System of Shengyi Society, the price trend of phthalic anhydride in the domestic phthalic anhydride market is weak and temporarily stable this week. As of August 12th, the price of phthalic anhydride in the phthalic anhydride market was 7875 yuan/ton, a slight decrease of 0.16% from the price of 7887.50 yuan/ton on August 1st. Domestic neighboring phthalic anhydride is priced at 7700-7900 yuan/ton before leaving the factory, while domestic naphthalene phthalic anhydride is priced at 7300-7400 yuan/ton before leaving the factory.

Supply side: tight supply of goods

The operation of domestic phthalic anhydride plants is temporarily stable, with a production rate of about 60%. The spot supply of phthalic anhydride is stable, and the sales situation of phthalic anhydride manufacturers is average. This week, the price of industrial naphthalene fluctuated and stabilized, and the naphthalene phthalic anhydride market stabilized. The ortho benzene market fell, and cost support decreased. The ortho benzene phthalic anhydride market fell.

The cost of phthalic anhydride raw material ortho benzene decreased in August

According to the Commodity Market Analysis System of Shengyi Society, the price of phthalic anhydride raw material ortho benzene fell in August, and the price of phthalic anhydride slightly decreased in August. As of August 12th, the price of ortho benzene was 8100 yuan/ton, a decrease of 4.71% from the initial price of 8500 yuan/ton at the beginning of the month. The price of ortho benzene has dropped significantly, the cost of phthalic anhydride raw materials has decreased, and the downward pressure on phthalic anhydride has increased.

Demand side: DOP market trend declines

According to the Commodity Market Analysis System of Shengyi Society, as of August 12th, the price of plasticizer DOP was 9111 yuan/ton, a fluctuating decrease of 4.09% compared to the DOP price of 9500 yuan/ton on August 1st at the beginning of the month. The price of plasticizer DOP fluctuated and fell. With the arrival of the hot and rainy season, PVC has entered a seasonal off-season in the industry, and the demand for plasticizers in China is off-season, coupled with a reduction in exports. Downstream manufacturers are in the off-season, with low production levels and weak follow-up on actual transactions. The demand for plasticizers is poor, and there is significant downward pressure on plasticizers.

Future forecast

According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the continuous decline in o-xylene prices in August has led to a decrease in phthalic anhydride costs; In terms of demand, the downstream DOP market has fluctuated and fallen, resulting in poor demand for plasticizers. In the future, with the decrease in costs and weak demand, the downward pressure on phthalic anhydride will increase; It is expected that the market for phthalic anhydride will decline in the future.

According to the Commodity Market Analysis System of Shengyi Society, the price of styrene in Shandong was 9404.00 yuan/ton on August 1st and 9414.00 yuan/ton on August 9th, an increase of 0.411%. The current price has increased by 10.64% compared to last year.

styrene

This week, the styrene market prices fluctuated and consolidated. From the above chart, it can be seen that the price of styrene has mainly fluctuated in the past three months, with little recent market volatility. The pure benzene market has been consolidating at a low level, with poor cost support, while the styrene market has been weak in recent gains. Spot demand is mainly driven by rigid demand, and styrene inventories at Jiangsu ports have decreased, causing the styrene market to fluctuate and consolidate. At present, the transaction price of styrene in Jiangsu region is 9460 yuan/ton.

Cost aspect

Recently, the overall trend of pure benzene has continued to decline. At present, the inventory of pure benzene ports is declining. The inventory of pure benzene ports in Jiangsu Province is 35000 tons, a decrease of 4800 tons or 12.06% compared to the previous inventory of 39800 tons. As of August 9th, the mainstream spot price of pure benzene in Shandong market is 8500 yuan/ton. At present, the rebound of the pure benzene market is not significant, and it is expected that the price of pure benzene will rise slightly in mid to late August.

Supply side

There were many maintenance visits to the styrene plant in August. The overall production of styrene factories in China was 296300 tons, a decrease of 400 tons compared to the previous period. Styrene inventory has slightly decreased, with limited positive impact.

Demand side

Recently, the three major downstream producers of styrene have experienced mixed fluctuations. The EPS market is stable, with Jiangsu ordinary materials priced at 10400-10550 yuan/ton. The market has a strong wait-and-see atmosphere, but actual transactions are average. The overall weakness of the upstream three materials has weakened the cost support for ABS. The decrease in load but no decrease in output of the ABS polymerization plant is due to the impact of the new equipment being put into operation. In addition, the weak demand on the demand side and the obvious off-season market situation have led to a slight increase in social inventory, and there is still supply pressure on the market. The current market spot trading momentum is low, and the pre-sale contract situation is not good. Overall, it is expected that the ABS market will be weak and difficult to change in mid August. The PS market fluctuated and fell. Downstream purchasing power is insufficient, and the mainstream of the East China PS market is stable, with occasional slight price reductions, resulting in weak market negotiations.

According to the styrene data analyst from Shengyi Society, the current pure benzene market remains low, with weak cost support, frequent maintenance of styrene plants, and low inventory pressure. However, downstream demand has not shown significant improvement, and procurement is weak. Shengyi Society analysts predict that the styrene market will mainly decline slightly.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price trend of anhydrous hydrofluoric acid in China declined in July. As of July 31, the average price of anhydrous hydrofluoric acid in China was 11333.33 yuan/ton, a decrease of 1.59% compared to the beginning of the month price of 11516.67 yuan/ton.

Raw material side: Recently, due to the continuous rise in raw material sulfuric acid prices, the production costs of enterprises have been under pressure, and the hydrogen fluoride market has weakened and declined. According to the monitoring system of Shengyi Society, as of July 31st, the benchmark price of sulfuric acid in Shengyi Society was 340.00 yuan/ton, an increase of 30.77% compared to the beginning of this month (260.00 yuan/ton).

The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, the national department will carry out renovation of fluorite mines in the near future, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. In addition, the high temperature and rainy weather in the southern region have increased the difficulty of operating fluorite mines, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite sources is still tight, and the decline in fluorite prices is somewhat restricted. Some domestic enterprises’ facilities for hydrofluoric acid are still shut down and waiting for the market, resulting in limited release of hydrofluoric acid production, low industry profits, and increased losses.

Demand side: The bidding price for hydrogen fluoride from downstream refrigerant manufacturers is gradually being introduced, and the market is generally falling by 300 yuan/ton. In the off-season of demand, the production demand for refrigerants in the market has weakened, and air conditioning companies have entered the annual maintenance season. In addition, with the recent continuous rainy weather, refrigerant companies have poor stocking conditions and are not actively purchasing upstream products.

Market forecast: In the near future, upstream sulfuric acid prices will continue to rise, and there will be significant pressure on the production cost of hydrofluoric acid. The downstream refrigerant industry has entered the off-season with weak demand, which has weakened the enthusiasm for purchasing hydrofluoric acid. It is expected that the price of hydrofluoric acid will remain weak and stable in the later period.