According to the monitoring data of business agency, the average price of domestic methanol market was 2650 yuan / ton on May 25, down 0.19% from the previous trading day and 1.03% year-on-year. On May 25, methanol futures in Zhengzhou Commodity Exchange rebounded after a weak decline. The main contract ma2209 closed at 2737 yuan / ton at the end of the trading day, up 11 yuan / ton compared with the closing of the previous trading day. As of the closing, the position of ma2209 contract was 949300 hands, an increase of 5400 hands compared with the previous trading day. The price of raw coal and oil price are strong, and the MTO of Tianjin Bohai Chemical downstream is expected to be put into operation. At present, the supply side is relatively abundant. Under the current situation, the game between supply and demand. Fan Tinglu, methanol analyst of business society, predicts that the domestic methanol market will be dominated by shock consolidation in the short term.

Price rise and fall chart of methanol industry chain of business society:

Summary of methanol market prices in various regions as of May 25:

Region, Price

Qinghai region, No quotation

Shanxi region ., 2480-2490 yuan / ton factory withdrawal cash exchange

Liaoning Province, 2740 yuan / ton to cash exchange

Fujian Province, RMB 2780-2820 yuan / ton, ex warehouse cash exchange nearby

Lianghu area ., Negotiation reference: 2850-2870 yuan / ton, delivered to cash exchange

Anhui region ., About 2780 yuan / ton

Henan region ., Factory reference 2630 yuan / ton factory withdrawal cash exchange

Comparison chart of price trend of coal / steam coal (upstream raw material) – methanol in shanghaishe:

Comparison chart of natural gas (upstream raw material) – methanol price trend of business community:

In terms of external market, as of the closing on May 24, CFR Southeast Asia methanol market closed at US $408.50-409.5/ton. US Gulf methanol market closed at 97.50-98.00 cents / gallon, up 1 cent / gallon; The closing price of FOB Rotterdam methanol market was 364.00-364.50 euros / ton, up 2 euros / ton.

region ., country., Closing price, Rise and fall

Asia, CFR Southeast Asia, 408.50-409.5 USD / ton, USD 0 / ton

Europe and America, The Gulf of the United States, 97.50-98.00 cents / gallon ., 0 cents / gallon

Europe, FOB Rotterdam, 364.00-364.50 euros / ton, 2 euros / ton

According to the analysis of CITIC futures, the marginal supply and demand of methanol has weakened, the support at the valuation end is strong, and the core logic of methanol interval fluctuation (weekly view) is as follows:

The overall upstream shipment this week was general. The upstream inventory is low, the source of goods available for sale is limited, most of the main factories in Northwest China are loaded in limited quantities, the driving force of profit making shipment is not strong, the downstream receives goods at a lower price, and just needs to purchase. Under the negotiation stalemate, the overall transaction is light. The low price transaction in the port is good, the high price transaction is poor, and the basis is strong first and then weak.

From the perspective of valuation, we believe that the near end valuation of methanol is low and there is support in the medium and long term. The price of coal from the near origin has risen to a high level, the price of coal from the northwest methanol plant has been close to 1100, and the price of coal from Henan, Shandong and other places has reached 1400-1500. Some enterprises have serious losses, the profit of downstream olefins is OK, and the valuation of methanol is low. In the medium and long term, the oil price may fluctuate at a high level, the peak of coal and electricity consumption is approaching, and the role of coal in supporting the bottom of methanol after double track is enhanced, which supports the valuation of methanol.

From the perspective of supply and demand drive, the maintenance capacity of more than 4 million tons of methanol in the northwest of the near end is concentrated and resumed production, the commencement of downstream MTO is reduced, and the supply and demand is weakened periodically. In the medium and long term, the supply is expected to increase with the return of maintenance units at home and abroad, the recovery of output and the new production; The domestic epidemic situation continues to improve, and there will be expectation of replenishment of traditional and energy demand or storage. However, the downstream of formaldehyde and other products will gradually enter the seasonal off-season, and the incremental space is limited. Therefore, under the double increase of supply and demand in the later stage, the elasticity of demand increase may be less than that of supply increase, and the expectation of supply and demand is loose. However, it is necessary to pay attention to the disturbance of coal price trend on methanol supply side and the production progress of Bohua MTO.

On the whole, the near end methanol overhaul capacity is concentrated and resumed production, the downstream MTO operation decreases, and the supply and demand weakens periodically. In terms of valuation, coal prices rose to a high level, some enterprises suffered serious losses, the downstream olefin profits were acceptable, the valuation of methanol was low, and the downward space of methanol was limited under the support of short-term costs. In the medium and long term, the trend of methanol will still be affected by energy prices and the epidemic. The high level of crude oil is expected to fluctuate, the peak of coal and electricity consumption is approaching, and the price constraint is weakened after the dual track operation of coal, which will enhance the bottom supporting effect on methanol and support the valuation end of methanol. From the perspective of supply and demand, under the double increase pattern of methanol supply and demand in the medium term, the elasticity of supply increase may be higher than that of demand increase. It is expected that the weakening of the margin of supply and demand may inhibit the space above methanol, but attention should be paid to the supply side under cost pressure and the production progress of Bohai Chemical MTO.

Cobalt prices stabilized after falling this week

According to the monitoring data of business society, the cobalt Market stabilized after falling this week, and the cobalt price was weak and stabilized. As of May 23, the average price of cobalt was 495900 yuan / ton, down 2.86% from 510500 yuan / ton on May 16 at the beginning of last week; Compared with the cobalt price of 540000 yuan / ton on May 1, it fell by 8.17%. The supply and demand of cobalt market were both weak, and the cobalt price stabilized after falling this week.

The output of ternary battery decreased

In April, China’s ternary battery output was 12.6gwh, with a month on month decrease of 27% and a year-on-year increase of 55%; In April, China recovered 19421 tons of used lithium batteries, with a month on month increase of 1.2% and a year-on-year increase of 31%. In April, the output of negative electrode materials in China was 101500 tons, with a month on month increase of 15% and a year-on-year increase of 69%. Recently, the market demand for cobalt salt, ternary and lithium cobaltate has been sluggish, mainly for procurement, the inventory of downstream enterprises is low, the demand of cobalt market is sluggish, the rising power of cobalt market is insufficient, and the downward pressure is great.

International cobalt prices fell

Time, Category and specification, minimum price., Up and down, The highest price, Up and down, Company

May 16, Standard grade cobalt, 39.75., 0 ., forty point two five ., 0 USD / lb

May 16, Alloy grade cobalt, 39.75., 0 forty point five ., 0 USD / lb

May 17, Standard grade cobalt, 39.75., 0 ., forty point two five ., 0 USD / lb

May 17, Alloy grade cobalt, 39.75., 0 ., forty point five ., 0 USD / lb

May 18, Standard grade cobalt, thirty-nine point seven .,- zero point zero five ., forty point two five ., 0 USD / lb

May 18th ., Alloy grade cobalt, 39.75., 0 ., forty point five ., 0 USD / lb

May 19th ., Standard grade cobalt, 39.7., 0 ., forty point two five ., 0 ., USD / lb

May 19th ., Alloy grade cobalt, thirty-nine point seven five ., 0 ., forty point five ., 0 USD / lb

May 20, Standard grade cobalt, 39.4., – 0.3., forty point one five .,- zero point one ., USD / lb

May 20, Alloy grade cobalt, 39.4., – zero point three five ., forty point three .,- zero point two ., USD / lb

May 23rd ., Standard grade cobalt, 39.4., three ., forty point one five ., 0 ., USD / lb

May 23, Alloy grade cobalt ., thirty-nine point four ., 0 ., forty point three ., 0 ., USD / lb

As can be seen from the price list of MB cobalt, the price of MB cobalt fell slightly this week, the international price of cobalt fell, and the cobalt market fell. The negative impact on the domestic cobalt market has increased, and the downward pressure on the domestic cobalt price has increased.

Market Overview

Bai Jiaxin, a data analyst at business news agency, believes that the international cobalt price has fallen, the price of cobalt salt has fallen sharply, the output of ternary batteries has declined, and the demand for cobalt has declined; The supply side is relatively stable, and the downward pressure on cobalt prices is increasing. In the future, the demand of cobalt market is weak, the demand of cobalt market is expected to grow slowly, and the space for cobalt price decline is limited. It is expected that the future cobalt price will fluctuate and adjust at about 500000 yuan / ton.

1、 Price trend

According to commodity data monitoring, titanium dioxide prices fell during the week. The average price of titanium dioxide in China was 20950 yuan / ton on May 13 and 20666.67 yuan / ton on May 20. The price decreased slightly within the week, with a range of 1.35%.

2、 Market analysis

The market price of titanium dioxide decreased during the week. The domestic titanium dioxide market is relatively light, the market maintains rigid demand, traders are more cautious in taking goods, and the downstream mainly purchases on demand. Internationally, the market situation is good and export orders are good. On the whole, the titanium dioxide market is dominated by the delivery of early orders. The actual transaction price is subject to single negotiation. Up to now, the factory quotation of domestic rutile titanium dioxide with tax is 19600-22000 yuan / ton; The ex factory quotation of anatase titanium dioxide including tax is between 18000-19500 yuan / ton.

In terms of titanium concentrate, the price of titanium concentrate in Panxi continued to decline this week. The market price of titanium concentrate in Panxi fell. The titanium ore market is cold, there are few inquiries, and the new order is not good. The downstream demand is general, mainly rigid demand, which is relatively wait-and-see. Up to now, the tax free quotation of 38 grade titanium ore is about 1550 yuan / ton, that of 46 grade 10 titanium ore is about 2220-2260 yuan / ton, and that of 47 grade 20 ore is about 2450-2550 yuan / ton. In the short term, the titanium concentrate market is more wait-and-see, dominated by weak and stable operation, and the actual transaction price is discussed.

In terms of sulfuric acid, the prices of mainstream domestic sulfuric acid manufacturers fell slightly during the week. The price of sulfuric acid fell from 1092.00 yuan / ton on May 14 to 1072.00 yuan / ton on May 20, down 1.83%. The manufacturer’s inventory is general, and the downstream demand is weakened. In late May, the domestic sulfuric acid market may fluctuate and fall slightly. The upstream sulfur market has gradually risen recently, and the cost support is good. The downstream hydrofluoric acid market was consolidated at a high level, the downstream titanium dioxide market fell slightly, the downstream customers’ enthusiasm for purchasing sulfuric acid weakened, and the product trend declined under the contradiction between supply and demand. Sulfuric acid analysts of business society believe that under the influence of supply and demand and raw materials in the domestic sulfuric acid Market in the short term, the market price of sulfuric acid may fluctuate and fall slightly.

3、 Future forecast

Titanium dioxide analysts of business society believe that: at present, the market price of titanium dioxide has fallen, the domestic market is still cold, the transaction is poor, and the downstream demand is general. The price of raw titanium concentrate decreased slightly, the price of sulfuric acid decreased slightly, and the cost support was weak. It is expected that in the short term, the titanium dioxide market will mainly maintain stable operation, and the actual transaction price will mainly be negotiated.

Recent price trend of isooctanol

As can be seen from the above figure, the ex factory price of isooctanol in Shandong fell first and then rose this week. This week, the average ex factory price of mainstream isooctanol manufacturers in Shandong fell from 12700.00 yuan / ton on May 14 to 12500.00 yuan / ton on May 17, down 1.57% Then it rose to 12666.67 yuan / ton on May 20, an increase of 1.33%, a year-on-year decrease of 12.64% compared with the same period last year. On May 20, the isooctanol commodity index was 93.14, unchanged from yesterday, down 32.26% from the highest point 137.50 in the cycle (2021-08-08), and up 164.98% from the lowest point 35.15 on February 1, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The upstream support is weakened and the downstream demand is better

From the perspective of manufacturer’s quotation, the ex factory quotation of mainstream manufacturers of isooctanol in Shandong decreased slightly this week: the octanol unit of Jianlan chemical is under maintenance; The quotation of lihuayi isooctanol this weekend is 12600 yuan / ton, which is temporarily stable compared with last weekend; Hualu Hengsheng offered 12800 yuan / ton of isooctanol this weekend, down 100 yuan / ton compared with last weekend.

From the upstream raw material market of isooctanol, the propylene market fell slightly this week. The quotation fell from 8576.60 yuan / ton last weekend to 8330.60 yuan / ton on May 20, down 2.87%, up 2.88% year-on-year over the same period last year. The market price of upstream raw materials fell slightly and the cost support was insufficient. Affected by the supply and demand side, it had a negative impact on the price of isooctanol.

From the downstream market of isooctanol, the ex factory price of DOP rose slightly this week. The DOP price rose from 11862.50 yuan / ton last weekend to 12000.00 yuan / ton this weekend, an increase of 1.16%, down 9.43% year-on-year compared with the same period last year. Downstream DOP prices rose slightly, and downstream customers were more enthusiastic about purchasing isooctanol.

The upstream support is weakened, the downstream demand is good, and isooctanol is bullish in the future

In late May, the market trend of Shandong isooctanol may fluctuate slightly and rise mainly. The upstream propylene market fell slightly, the cost support weakened, the downstream DOP market rose slightly, and the downstream demand was better. Analysts believe that the domestic market will be mainly affected by the short-term fluctuation of raw materials and octanol market.

The price of acetic anhydride stabilized after rising this week

According to the data monitoring of business society, the price of acetic anhydride stabilized after rising this week, and the market of acetic anhydride stabilized. As of May 16, the price of acetic anhydride was 8525.00 yuan / ton, stabilizing from 8525 yuan / ton on May 9 at the beginning of the week; The price of acetic anhydride increased by 14.62% from 7437.50 yuan / ton on May 1 at the beginning of the month. The price of acetic anhydride manufacturers was stable, and the price of acetic anhydride increased by nearly 1500 yuan / ton after the festival.

The price of raw material acetic acid fluctuated and rose

It can be seen from the correlation statistics of business society that the correlation coefficient between acetic anhydride and acetic acid from May 2021 to April 2022 is 0.958, and acetic anhydride and acetic acid are highly positively correlated. As can be seen from the price trend chart of acetic acid in business society, the price of acetic acid stabilized after a sharp rise this week, with an increase of 7.19%. Some acetic acid enterprises stopped production and maintenance, the operating rate of acetic acid enterprises decreased, the supply of acetic acid decreased, the driving force for the rise of acetic acid increased, the cost of acetic anhydride increased, and the driving force for the rise of acetic anhydride was large.

The price of raw material methanol stopped falling and stabilized

As can be seen from the methanol price trend chart of business club, the methanol price stopped falling and stabilized this week, and the overall methanol price stabilized. As of May 16, the methanol price was 2642.50 yuan / ton, down 3.91% from 2750 yuan / ton on May 9; Compared with the price of 2745 yuan / ton on May 1 at the beginning of the month, the price of methanol decreased by 3.73%. After the fluctuation and decline of methanol price this week, the methanol market stabilized. This week, the price of methanol stabilized, the cost of acetic anhydride decreased, the downward pressure of acetic anhydride remained, and the upward momentum weakened.

Outlook

Analysts of acetic anhydride data of business society believe that the raw material methanol stabilizes after falling, the price of acetic acid stabilizes after rising sharply, and the cost of acetic anhydride stabilizes after rising; This week, acetic acid enterprises stopped production for more maintenance, the supply of acetic acid decreased, and the driving force of acetic acid rise was large; The price of acetic anhydride raw materials is relatively high, the cost of acetic anhydride rises, and the driving force of acetic anhydride rise is relatively large. Generally speaking, the price of acetic anhydride raw materials will stabilize in the future, and it is expected that the price of acetic anhydride will stabilize in the future.

In mid May, the domestic propane market price rebounded, and the Shandong market price fluctuated higher. According to the data monitoring of business agency, the average price of propane in Shandong market was 6540.75 yuan / ton on May 10 and 6668.25 yuan / ton on May 17, with an increase of 1.95% and 52.13% compared with the same period last year.

As of May 17, the mainstream prices of propane in different regions in China are as follows:

Region, May 17th

South China, 6450-6550 yuan / ton

North China, 6550-6700 yuan / ton

Shandong Province, 6500-6700 yuan / ton

Northeast China, 6450-6650 yuan / ton

In the middle of May, the overall price of domestic propane market rose, and the price of propane Market in Shandong showed a continuous upward trend. The rising market is mainly favorable for international crude oil. Since the 11th, international crude oil prices have risen four times in a row, which has significantly boosted the propane Market. The downstream fear of rising has been more active in entering the market. The overall supply of Shandong market is low, and the increase is relatively conspicuous. Prices in the southern market have also moved up. However, the overall weak terminal demand has brought some restraint to the rising market.

Saudi Aramco announced in May 2022 that both propylene and butane fell. Propane was 850 USD / T, down 90 USD / T from the previous month; Butane is 860 US dollars / ton, down 100 US dollars / ton compared with the previous month.

At present, the international crude oil has ended its four consecutive rises, and the price has fallen. The news is negative. The market price of propane in Shandong has fallen. The overall terminal demand is weak and difficult to improve in the short term. The low supply in some parts of the market has brought some support. It is expected that the propane market price may continue to be weak and be reduced by a narrow margin.

Crude oil futures strengthened for four consecutive trading days. According to the statistics of business agency, WTI rose from below $100 to nearly $114 in the past four trading days, up more than 14%. The market has gradually got rid of demand concerns, and the focus has gradually returned to the expectation of supply tightening.

Last Monday, the oil price once fell by more than 6%, continued to fall on Tuesday, and WTI crude oil fell below $100. On the one hand, at the macro level, the US dollar continued to strengthen, the valuation of bulk commodities denominated in US dollars was reshaped, and the oil price was under pressure; In addition, the continuous sharp decline in the stock market has affected the market mentality. On the other hand, the negative demand side dominated the market, and the epidemic prevention restrictions in Asia exacerbated the market’s concern about the demand prospect; In addition, the oil giant Saudi Arabia lowered the official price of crude oil in Asia and Europe in June, putting short-term pressure on oil prices.

After Wednesday, oil prices rebounded sharply for four consecutive trading days, fully recovering their previous losses. Oil prices rose again to $110 last Friday. According to the monitoring of business news agency, on May 16, the settlement price of the main contract of WTI crude oil futures in the United States was reported as US $114.20/barrel, an increase of US $3.71 or 3.4%; The settlement price of the main contract of Brent crude oil futures was US $114.24/barrel, up US $2.69 or 2.4%. US gasoline prices soared to an all-time high, while North American demand remained strong; Superimposed on the improvement of the epidemic situation in Asia, demand expectations and concerns eased. More importantly, the market remained cautious about the EU’s oil embargo against Russia, the expectation of supply tightening continued to ferment, and the oil price continued to rise.

Supply and demand analysis: the marginal of global energy supply and demand has weakened, and low inventory support remains

CITIC futures analysis mainly has the following views on the current crude oil market: the geographical situation is in trouble, and there is no actual impact on Russia’s energy export

EU sanctions are temporarily limited to coal and have only been implemented since August, but there is no consensus on oil and gas, and many countries have compromised to pay rubles to buy natural gas, and the impact of geopolitical sentiment has slowed down; As of April, Russian oil exports rose instead of falling, up 3.25% from before the conflict in February.

Increased differentiation between energy sources:

Crude oil and refined oil are facing regional differentiation and variety differentiation: the United States and Europe are divided, the U.S. economy is expanding without stagnation, the superimposed energy export is strong, and the performance of U.S. oil products is the strongest; Europe has increased energy imports, the economy has fallen into stagflation, and European oil products have weakened marginally; China’s economy is sluggish but not inflated. Under the background of marginal improvement of the epidemic situation, domestic oil products are nearly weak and far stronger; With the differentiation of gasoline and diesel, the weakening of economy and the rise of temperature, the margin of diesel fell, but gasoline is still strong under the improvement of epidemic situation and the expectation of peak travel season.

Outlook: according to the analysis of CITIC futures, the global fossil energy inventory is still at a low level, and there is limited room for prices to fall sharply under low supply elasticity:

1) At present, the global fossil energy inventory is at a low level, mainly due to the low capital expenditure of fossil energy under the long-term energy transformation, the impact of the mid-term epidemic on the recovery of the supply chain, and the short-term geographical conflict.

2) The reduction of global energy dependence on Russia is difficult to achieve overnight, and Russia’s supply shortage is difficult to make up, which will exacerbate the shortage of energy supply.

3) As the impact of geopolitical conflict changes from short-term to medium and long-term, the importance of energy security increases, and the energy transformation may accelerate. It is expected that the global fossil energy supply elasticity will remain low, the space for the sharp decline of energy prices is limited, and the volatility is intensified.

Business news agency believes that the tightening of medium and long-term supply is expected to continue to support high oil prices

First, the organization of Petroleum Exporting Countries and its allies (OPEC +) have been negative about increasing production. The latest OPEC + ministerial meeting was held on May 6 to maintain the linear production increase plan in June without additional production increase commitments. On the one hand, out of financial dependence on high oil prices; On the other hand, its members also have their own difficulties in increasing production. According to the latest OPEC + monthly report, the implementation rate of OPEC + internal production control continued to differentiate. The average implementation rate of Saudi Arabia, Iraq, the United Arab Emirates and Kuwait remained at about 100% in April 2022, basically maintaining full production. However, other oil producing countries have been unable to meet the production capacity due to domestic turmoil, investment costs and other factors. In the medium term, it is expected that the additional capacity released by OPEC + through production increase will still be very limited, which will continue to help maintain oil prices at a high level.

In addition, the future uncertainty of Russian crude oil supply is still the biggest risk point in the market. The market focus is generally focused on the EU oil embargo against Russia. So far, the EU’s oil sanctions against Russia have not been finally implemented, mainly because a small number of countries such as Hungary do not support the embargo. Some EU countries also tend to postpone the ban on Russian oil. However, there are still voices in the market: the EU plans to approve a new package of sanctions against Russia and has no intention of delaying the implementation of the oil embargo. It is expected that before the implementation of the policy, the risk appetite of the market will be affected by the expectation of supply tightening.

Demand remains uncertain during the Fed’s interest rate hike

The US inflation level has remained high continuously, which poses challenges to the rhythm and intensity of the Fed’s interest rate hike. On May 11 local time, the U.S. Department of labor released a report showing that the U.S. consumer price index (CPI) in April increased by 8.3% year-on-year, higher than the previously expected 8.1%. At a recent meeting, US Federal Reserve Chairman Powell said that allowing high inflation means a more severe economic recession, and reiterated that it is reasonable to raise interest rates by 50 basis points at the next two meetings; If the situation gets worse, be prepared to take more measures. From Powell’s hawkish speech, in the short term, the capital market still performs poorly due to the expected interest rate increase, especially in the fields of stock market, crude oil and so on. In the long run, interest rate hikes may depress demand. Judging from the last round of interest rate increase process of the Federal Reserve, the Federal Reserve raised interest rates four times in 2018, and the oil price fell from about $85 / barrel to $55 / barrel. Especially at present, the epidemic still plays a role, and future demand may become the biggest constraint on oil prices. Of course, under the background of the Russian Ukrainian war, Russia’s oil supply is affected by intensive Western sanctions. The current situation is more complex. The impact of oil prices from the supply side will play a role in the long term to further offset the negative impact of the demand side.

Generally speaking, the crude oil analysts of business agency believe that the short-term oil price will still run at a high level under the influence of the implementation of the EU oil ban on Russia. In the medium and long term, oil prices will seek to rebalance supply and demand under the background of the Fed’s interest rate hike.

1、 Price trend

According to commodity data monitoring, the price of yellow phosphorus in Yunnan and Guizhou increased this week. The average price of yellow phosphorus was 37333.33 yuan / ton on Monday and 38000 yuan / ton on Friday. The price increased by 1.79% within the week.

2、 Market analysis

The market price of yellow phosphorus rose this week. The overall market price is close to the high-end, and the manufacturer mainly sends early orders. The spot is tight, and an appropriate amount of goods are prepared in the downstream, focusing on the rigid demand. Up to now, the mainstream quotation of yellow phosphorus in Yunnan is about 38000 yuan / ton; The mainstream quotation of yellow phosphorus in Sichuan is about 39000 yuan / ton.

In terms of phosphate rock, this week, mining enterprises in some parts of China raised the price of medium and high-end phosphate rock again by about 20-30 yuan / ton, of which the adjusted market price of 30% grade phosphate rock in Guizhou is about 780-830 yuan / ton. Some Guizhou mining enterprises are short of supply, so they will not receive orders and quotations for the time being. The adjusted market price of 30% grade phosphorus ore in Guangxi is around 790-840 yuan / ton. As of May 12, the market price of 30% phosphorus ore in China was around 800 yuan / ton, with an increase of nearly 5% in the first ten days of May. At present, the domestic phosphate ore market as a whole continues to operate at a high level, the downstream demand is normal, and the trading atmosphere on the site is good.

In terms of coke, coking coal prices fell this week. The average market price at the beginning of the week was about 3255 yuan / ton, and the average market price at the weekend was 3171.67 yuan / ton. The price fell by 2.56%, and the price increased by 98.64% compared with the same period last year. The coking coal market operates weakly. In terms of origin, most coal mines maintain normal production, but the downstream wait-and-see mood is strong, the purchase enthusiasm is reduced, and the new orders of coal mines are reduced; In terms of downstream coke, the second round of increase and decrease has been fully implemented, profits have become more and more tight, and the market is mainly on the sidelines.

In terms of phosphoric acid, the price of phosphoric acid increased this week. The average price of phosphoric acid was 10710 yuan / ton on Monday and 10840 yuan / ton on Friday. The price increased by 1.21% within the week. Due to the rising price of raw yellow phosphorus and the strengthening of cost support, the offer of phosphoric acid enterprises increased, but the downstream demand followed up generally, and there is little room for rise. It is expected that the phosphoric acid market will rise steadily in the short term.

3、 Future forecast

The yellow phosphorus analyst of the chemical branch of the business agency believes that on the whole, the focus of yellow phosphorus is upward this week. Enterprises have sufficient orders, the price of upstream phosphate rock has increased, and the coke market has declined. The market price of downstream phosphoric acid increased. The upstream and downstream support is acceptable. At present, the spot of yellow phosphorus is tight, and the price of yellow phosphorus is expected to be strong in the short term.

Price trend of domestic sodium pyrosulfite

According to the monitoring of business agency, the price of domestic sodium pyrosulfite continued to rise this week. The average price of industrial grade sodium pyrosulfite was 3100.00 yuan / ton at the beginning of the week and 3133.33 yuan / ton at the end of the week, up 1.08% during the week.

The overall market performance of sodium pyrosulfite this week is general. The market price range of industrial grade sodium pyrosulfite is 2800-3400 yuan / ton, and most prices are concentrated near 3100-3200 yuan / ton. The overall production of the enterprise is stable, the inventory is maintained at about 30%, and the enterprise mainly completes the orders of old customers. (the above prices refer to the external quotations of domestic mainstream enterprises, and some unreported enterprises are not within their scope temporarily. The prices are for reference only and have nothing to do with the final pricing of manufacturers. Please contact manufacturers for details).

Since the beginning of May, the price of upstream soda ash has increased by 1.4%, the price of sulfur has increased by 7.43%, and the price of upstream raw materials has continued to rise. The cost will further support the market price of sodium pyrosulfite in the future.

Future forecast

Business analysts believe that under the dual support of cost and demand, the domestic market price of sodium metabisulfite will continue to operate stably, moderately and strongly in the short term.

According to the bulk commodity list data of business society, the market price of formaldehyde in Shandong fell this week. At the beginning of the week, the average price of formaldehyde in Shandong was 1376.67 yuan / ton. At the weekend, the average price of formaldehyde in Shandong was 1333.33 yuan / ton, down 3.15%. The current price fell 5.44% month on month and 4.76% year-on-year.

formaldehyde

The market price of formaldehyde in Shandong fell this week. It can be seen from the above figure that formaldehyde has mainly fallen in recent months, and the market continues to fluctuate and fall this week. As of May 12, the mainstream market price in Shandong is 1270-1370 yuan / ton. Recently, due to domestic public health events, the downstream demand has not improved continuously, the manufacturers in Linyi have difficulty in shipping, the market transaction is light, and the market has fallen more than once.

Summary of formaldehyde market prices in various regions as of May 12:

Region, Price

East China, 1420 yuan / ton

Central China, 1270 yuan / ton

South China, 1420 yuan / ton

Northwest China, 1330 yuan / ton

Upstream methanol: the domestic methanol market fell slightly this week. The reference price negotiated in the methanol market in Dongying, Shandong Province was 2640-2660 yuan / ton, which was sent to cash exchange, and the transaction was poor. The negotiated transaction of methanol market in Zibo, Shandong Province was 2660-2680 yuan / ton delivered to cash exchange, and the ex factory cash exchange of local factories fell to 2800 yuan / ton. The transaction was general. The negotiated reference price of Jining methanol is around 2650-2670 yuan / ton, and the factory provides cash exchange. Linyi receives local goods to negotiate, and the negotiated reference price is around 2730-2750 yuan / ton. The trading atmosphere is temporarily. Transportation is still limited in some areas. Methanol market may continue to decline weakly.

This week, the methanol market fluctuated and fell, the cost support was weak, the operation of the downstream plate factory did not improve, the demand for formaldehyde in the field was limited, the market transaction was cold, and the formaldehyde manufacturers had difficulty in shipping. In order to ship, they took the initiative to lower the quotation, and the formaldehyde market continued to fall.

Recently, the domestic methanol market has continued to decline, and the demand of downstream wood panel plants is weak. Under the dual pressure, the formaldehyde analyst of the chemical branch of business society predicts that the recent decline in the price of formaldehyde in Shandong is mainly below.