1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of July 14th, the reference average price of domestic urea market was 1838 yuan/ton, which is 0.42% higher than the reference average price of 1834 yuan/ton on July 7th.
2、 Market analysis
market conditions
The domestic urea market continued to rise and then stopped rising and fell. This week, due to higher than expected printing prices, the optimism in the nitrogen fertilizer market has increased, boosting the domestic urea market and causing urea prices to rise. The urea market has seen a rise in trading volume and increased trading volume. Due to the decline in urea futures prices over the weekend, the urea spot market prices have fallen. As of July 14th, the urea market prices in Shandong are around 1780-1835 yuan/ton, Hebei is around 1760-1810 yuan/ton, Henan is around 1780-1840 yuan/ton, Hubei is around 1810 yuan/ton, and Liaoning is around 1870 yuan/ton.
Supply and demand situation
This week, the supply and demand of the domestic urea market remained stable. On the supply side, some companies underwent equipment maintenance this week, resulting in a decrease in daily production, but the supply of urea in the market remains loose. In terms of demand, downstream essential fertilizer preparation is the main focus. At present, compound fertilizer manufacturers are following up on demand and are cautious about raw material procurement.
3、 Future forecast
The urea analyst from Shengyi Society believes that the recent trend of the domestic urea market has stopped rising and fallen. Market inventory remains high, coupled with the weakening of the futures market, downstream purchasing enthusiasm has weakened. It is expected that in the short term, the domestic urea price will be weak and mainly operated through consolidation.

According to the Commodity Market Analysis System of Shengyi Society, in early July, the domestic adipic acid market continued to decline due to negative pressure. On July 1st, the average market price of adipic acid was 7466 yuan/ton. On July 11th, the average market price of adipic acid in China was 7133 yuan/ton, a decrease of 3.17%.
Negative pressure suppresses domestic adipic acid market, causing a decline

At the beginning of July, the prices of pure benzene and cyclohexanone raw materials for adipic acid fell weakly, and the demand for terminal plastics industry was sluggish, resulting in an overall decline in prices for adipic acid manufacturers. The domestic adipic acid market has average transactions and a weak market. As of July 11th, the average market price of adipic acid has fallen to around 7133 yuan/ton, with an overall decline of over 3%.
An analyst from Shengyi Society believes that in mid July, the rigid demand in the terminal industry was weak, and the raw material market was not good. The market for adipic acid will continue to weaken in the future.

This week, the domestic epoxy propane market price has slightly declined. According to the monitoring system of Shengyi Society, as of July 4th, the benchmark price of Shengyi Society’s epoxy propane was 7126.67 yuan/ton, a decrease of 4.68% compared to June 30th.

Price influencing factors:
Raw material side: The market price of raw material propylene fluctuates slightly, and the impact on the cost side is not significant. According to the market analysis system of Shengyi Society, as of July 3rd, the benchmark price of propylene in Shengyi Society was 6743.25 yuan/ton, an increase of 0.33% compared to the beginning of this month (6720.75 yuan/ton).
Supply side: In early July, some enterprise installations were put into operation, and the market supply was slightly loose. The trading focus of the epoxy propane market continued to decline.
On the demand side: downstream demand for epoxy propane replenishment is urgent, and the market trading atmosphere is relatively quiet. Affected by tariff policies, downstream terminal markets have limited procurement of raw materials. Overall, the demand is facing limited support from the epoxy propane market, and the market may mainly operate weakly and steadily in the later stage.
Market forecast:
Business Society’s epoxy propane analyst believes that the supply side of epoxy propane is relatively loose, downstream demand is weak, and there is a need for replenishment, cautious procurement, and a relatively quiet market trading atmosphere. It is expected that the epoxy propane market will mainly operate weakly and steadily in the later stage, and more attention should be paid to changes in raw material prices and downstream supply and demand.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market stabilized at a low level on June 30th, with a slight overall decline. As of June 30th, the average market price of n-butane oxidation maleic anhydride remained at 6250 yuan/ton, a decrease of 0.4% from 6275.00 yuan/ton on June 29th.

On the supply side: On June 30th, the market for maleic anhydride stabilized at a low level, with factory prices slightly falling. Downstream purchases were cautious, and new orders were limited. Recently, downstream unsaturated resin manufacturers of maleic anhydride have maintained a stock of essential goods and are mainly observing the situation. As of June 30th, the factory price of solid anhydride is around 5700 yuan/ton, and the factory price of liquid anhydride is around 5250 yuan/ton.
Upstream: On June 30th, the n-butane market rose slightly by 10 yuan/ton, and as of June 30th, the price in Shandong was around 4600-4650 yuan/ton.
Downstream: On June 30th, the unsaturated resin market was mainly weak and stable. Currently, unsaturated resin is still in the off-season, and downstream transactions are average. The support for unsaturated resin is limited, and the market has a strong wait-and-see sentiment.
The analyst of Shengyi Society’s maleic anhydride products believes that currently, the main downstream unsaturated resin of maleic anhydride maintains a strong demand for maleic anhydride procurement, and the market is mainly wait-and-see; The upstream n-butane market for maleic anhydride remains stable, with limited cost support. It is expected that the maleic anhydride market will mainly consolidate at a low level in the near future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of June 27th, the reference average price of domestic urea market was 1827 yuan/ton, which is 0.16% higher than the reference average price of 1824 yuan/ton on June 23rd.
2、 Market analysis
market conditions
This week, the domestic urea market experienced a decline followed by an increase. At the beginning of this week, the urea market lacked positive support and urea prices fell. On Wednesday, the market reported an increase in urea export quotas, causing the urea futures market to rise and the urea spot market price to begin to rise. As of June 27th, the urea market prices in Shandong are around 1770-1845 yuan/ton, Hebei is around 1800 yuan/ton, Henan is around 1800 yuan/ton, Hubei is around 1780-1820 yuan/ton, and Liaoning is around 1890 yuan/ton.
Supply and demand situation
On the supply side, some companies underwent equipment maintenance this week, resulting in a decrease in daily production, but the supply of urea in the market remains loose. In terms of demand, downstream essential fertilizer preparation is the main focus. This week, the operating rate of compound fertilizer enterprises has decreased, resulting in a decrease in demand for urea. Industrial demand maintains essential replenishment.
3、 Future forecast
Business Society’s urea analyst believes that the domestic urea market has been trending upwards recently. At present, urea manufacturers are mainly raising prices, market inventory remains high, and market demand still needs to be released. It is expected that the short-term consolidation of domestic urea prices will be the main trend.

The butadiene rubber market in June fluctuated within a range. According to the commodity market analysis system of Shengyi Society, as of June 29th, the butadiene rubber market price in East China was 11800 yuan/ton, a decrease of 0.92% from 11910 yuan/ton at the beginning of the month. The highest point during the cycle was 12040 yuan/ton, and the lowest point was 11600 yuan/ton. The price of raw material butadiene has significantly decreased, and the cost center of butadiene rubber has shifted downwards; The production of butadiene rubber has fluctuated slightly, and the pressure on the supply side still exists; The downstream tires start to rise first and then fall, mainly supporting the rigid demand of butadiene rubber. As of June 29th, the mainstream prices for Qilu, Daqing, Sichuan, and Yangtze Shunding in East China were 11750-12100 yuan/ton.

The price of butadiene dropped significantly in June, and the cost support for butadiene rubber weakened significantly. According to the Commodity Market Analysis System of Shengyi Society, as of June 29th, the price of butadiene was 9066 yuan/ton, a decrease of 6.85% from 9733 yuan/ton at the beginning of the month.
In June, there was a slight fluctuation in the domestic butadiene rubber plant. As of the end of June, the domestic butadiene rubber production rate was around 6.85%, and supply pressure still exists.
Demand side: In early June, the downstream tire construction started at a low level during the Loong Boat Festival holiday. After the festival, the tire construction started significantly. In the middle and late days, the tire construction started again slightly lower. On the whole, the downstream tire industry maintained a strong demand for cis-1,4-polybutadiene rubber in June. As of June 27th, the production of semi steel tires by domestic tire companies has slightly decreased to around 7.10%; Around 6.20% of all steel tire production in Shandong tire enterprises has started.
Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the raw material butadiene market will significantly decline, and the cost support for butadiene rubber will weaken; Downstream demand for butadiene rubber is strongly supported, and there is still pressure on the supply side of butadiene rubber. Overall, it is expected that the butadiene rubber market will consolidate weakly in the later stage.

Last week, the asphalt market rose overall due to the impact of crude oil. According to monitoring data from Shengyi Society, on June 16th, the ex factory price of Jingbo Heavy Duty Asphalt # 70 in Shandong was 3710 yuan/ton, and on June 22nd, the ex factory price in Shandong was 3745 yuan/ton.

The escalation of the Iran Israel conflict has resulted in lower than expected actual crude oil production increase for OPEC+in May, and currently crude oil is in the peak consumption season. International oil prices have risen sharply, and due to cost support factors, asphalt prices have rapidly increased.
In terms of refineries, crude oil prices have risen, while asphalt prices have risen due to cost support. However, due to limited demand, the transmission of asphalt prices has decreased, and many factories have suspended quotations today.
From the perspective of Shengyi Society, the main factor driving the upward trend of asphalt prices is still the fluctuation of crude oil prices. With the support of costs, short-term asphalt prices continue to operate strongly. However, there is currently significant supply pressure, relatively weak demand, and limited acceptance of high prices, putting upward pressure on the asphalt market

The market price of anhydrous hydrogen fluoride remained stable this week. The mainstream ex factory price including tax is about 10700-10850 yuan/ton, a decrease of about 650 yuan/ton from last month. The price of raw material fluorite has declined, and the demand for downstream refrigerants is average. The focus of negotiations in the anhydrous hydrogen fluoride market is gradually shifting downwards, and it is expected that the market will mainly operate steadily and weakly in the later stage. According to the analysis system of Shengyi Society, as of June 20th, the benchmark price of hydrofluoric acid in Shengyi Society was 11133.33 yuan/ton, a decrease of -6.31% from the beginning of this month.

On the raw material side, domestic fluorite prices have fallen this week, sulfuric acid prices have risen, and the overall support for the cost side of the anhydrous hydrogen fluoride market is weak. According to the analysis system of Shengyi Society, as of June 19th, the benchmark price of Shengyi Society’s fluorite was 3268.75 yuan/ton, a decrease of 6.44% compared to the beginning of this month (3493.75 yuan/ton).
Demand side: The downstream refrigerant terminal demand is generally average, and upstream products are mainly purchased on demand. Traders tend to adopt a wait-and-see attitude, and the market still has a mentality of buying and lowering prices.
Market forecast: The price of raw material fluorite will decline, and the demand for downstream refrigerants will be average. It is expected that the market for anhydrous hydrogen fluoride will remain stable and weak in the later stage, and more attention should be paid to the news of leading enterprises and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, as of the 13th, the price of ethyl acetate was 5456.67 yuan/ton, an increase of 40 yuan/ton or 0.74% compared to the price of 5416.67 yuan/ton on June 6th. There is no pressure on the supplier’s spot goods, and the enterprise’s mentality is quite high. The downstream is following up on demand, and the market transaction is still acceptable. The quotation for ethyl acetate is consolidating upwards.

The utilization rate of domestic ethyl acetate production capacity is not high, and the inventory pressure of enterprises is not significant. The main reason is that the quotation is firm. At the same time, there are many orders in the export market, and the supply of market goods is tight. The news is positive, and the quotation for ethyl acetate has been adjusted upwards; On the cost side, the weak downward trend of raw material acetic acid and the increase in profit of ethyl ester have a negative impact on the downstream purchasing sentiment of ethyl ester; In terms of demand, downstream entry into the market will follow up on demand, which will definitely suppress the significant increase in ethyl ester prices.
In the future, the operating rate of the ethyl acetate market is not high, and the support of the supply market is good. However, the enthusiasm of downstream market entry is not high, and the pressure on ethyl ester enterprises to ship may increase. At the same time, the raw material market is weak, and the cost is bearish. It is expected that the price of ethyl acetate will be weakly adjusted in the later stage, and specific attention will be paid to changes in the supply side equipment and downstream follow-up.

This week, the phthalic anhydride market rebounded and rose

According to the Commodity Market Analysis System of Shengyi Society, as of June 13th, the price of phthalic anhydride from neighboring countries was 6916.67 yuan/ton, which rebounded and increased by 0.97% compared to the price of phthalic anhydride of 6850 yuan/ton on June 6th; The price of phthalic anhydride fluctuated and fell by 0.48% from 6950 yuan/ton on June 1st. This week, the price of phthalic anhydride remained stable, while the price of industrial naphthalene fluctuated and rose. The cost support for phthalic anhydride increased, and the operating rate of phthalic anhydride enterprises decreased to 6.50%. The supply of phthalic anhydride decreased, and the downstream plasticizer market rose. The demand support for phthalic anhydride still exists. Supply reduction and demand support have led to a rebound in phthalic anhydride prices.
The cost of phthalic anhydride has increased, and the supply has decreased
This week, the price of ortho benzene is temporarily stable. Sinopec’s ortho benzene quotation is 6900 yuan/ton, and the price is temporarily stable. Industrial naphthalene prices have fluctuated and risen, while phthalic anhydride costs have increased. This week, there has been an increase in maintenance of phthalic anhydride equipment, resulting in a decrease in the operating rate of enterprises. The operating rate of the domestic phthalic anhydride industry has dropped to around 6.5%, and the expected supply of phthalic anhydride has decreased. Due to rising costs and reduced supply, the price of phthalic anhydride has increased this week.
Demand side: The DOP market has stopped falling and rebounded
According to the Commodity Market Analysis System of Shengyi Society, as of June 13th, the DOP price was 8250.83 yuan/ton, which rebounded and increased by 0.10% compared to the June 11th DOP price of 8242.50 yuan/ton; Compared to June 6th, the DOP price of 8267.50 yuan/ton first fell and then rose, with a decrease of 0.20%. This week, DOP prices rebounded and rose, plasticizer companies maintained stable operating loads, demand for phthalic anhydride rebounded, and phthalic anhydride price support increased.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the price of raw material ortho benzene is temporarily stable, while the price of industrial naphthalene is rising, resulting in an increase in phthalic anhydride costs; In terms of demand, the plasticizer market is rising, and the demand for phthalic anhydride is supported by increased demand; On the supply side, the production of phthalic anhydride enterprises has decreased, and the expected supply of phthalic anhydride has decreased. Overall, the decrease in supply and the rebound in demand supported by costs have led to a rebound in phthalic anhydride prices.