The domestic epoxy resin market continued to rise in March. According to the monitoring data of business society, the offer of East China liquid resin in early March was 31500 yuan / ton, and rose to 34000 yuan / T at the end of the month. The current liquid resin price has reached the peak in nearly three years. In the factory, the factory also rose in March, and the factory orders are full. Among them, Yangnong Jinhu offer reached 34600 yuan / T, Nantong Xingchen offer reached 33500 yuan / T, and Baling Petrochemical increased 1000 yuan / T to 34000 yuan / ton again at the end of the month. Solid resin around Huangshan was also greatly improved, and the offer entered into the “three” state. The offer around Huangshan was 28000-29500 yuan / ton, which increased greatly.

Epoxy resin has been crazy upward. On the one hand, the downstream market orders are constantly, and the factory delivery is under no pressure. On the other hand, under the stimulation of mutual benefit, the upstream raw material bisphenol A has reached “sky price”, and the cost support is strong, and the other important raw material epichlorohydrin is also catching up, further stimulating the epoxy resin to continue to catch up.

Up to now, with the increase of export orders, the overall low level of epoxy social inventory, the price has been increased every day. Many downstream in the early stage are short-term bearish. With the completion of inventory consumption, they have to accept high prices. It is heard that orders of a large enterprise have been completed in April, and downstream procurement is to be arranged to collect goods. According to statistics, half of the enterprises order to the late April, short-term liquid resin supply is tight It is difficult to alleviate the situation.

In terms of cost, the bisphenol a market, one of the raw materials, has gradually intensified the contradiction between supply and demand, and the downstream epoxy resin industry has been greatly up. In March, the market of BPA rose 8.75%. In the early months, it made a short-term correction under the rapid rise in the early period. At that time, in the high market, the downstream had obvious conflict with high prices, and there was continuous profit plate shipping, and the market entered a short-term small reduction The state of the system. After about a week, the contradiction between supply and demand of BPA intensified. Although BPA was high, it entered the price rising state again under the pressure of market supply. Then, with the end of the month approaching, the contract volume was completed, the market supply tension was difficult to alleviate, and the carrier was positive in mentality, and the price could not be pushed up again. According to the monitoring of business agency, bisphenol a rose from 24366 yuan / ton to 26500 yuan / ton at the end of the month from the beginning of the month. The business agency expects that BPA will continue to be high in April, and the BPA plant is currently at a high level. However, the next overhaul will begin in the middle of April. The overhaul period is one month. Sinopec Mitsui also has a short-term overhaul plan in April. At present, the imported goods source is high. Under the condition that the supply side tension is difficult to alleviate, the downstream liquid resin will continue to be well supported, and the dual phenol a plant will be under the condition of difficult relief of supply side tension Phenol A is still high in short term.

The market of epichlorohydrin, another important raw material, also showed a positive upward trend. In March, upstream propylene was supported, and the upstream upward power was insufficient at the beginning of the month. In the later period, under the influence of the high level of bisphenol A, the market center of gravity increased. According to the epichlorohydrin analyst of business agency, the cost side of propylene epoxypropane is generally supported in the near future, the glycerine method cost support is relatively strong, the firm has strong willingness to store a strong price, coupled with the increase of export orders, which will boost the market mentality, and the low price supply in the site is reduced. The downstream small orders need to be replenished first. It is expected that in the short term, the epichlorohydrin market will be on the rise, and more attention should be paid to the market information guidance .

In terms of the unit, the liquid epoxy resin plant is in normal operation, with the overall operating rate at a high level. Most of the plants have delivered the orders in the early stage. Some of the products in some factories can be supplied in the spot market. In March, the overall commencement rate is 80%, and the delivery order in March has increased significantly, so the supply tension is difficult to alleviate.

From the perspective of business agencies, the shortage of epoxy resin market is difficult to alleviate in a short time. Before, due to the demand of wind power industry, the downstream electronic appliances, coatings and materials have been improved. The demand is still high. The business agency expects the short-term epoxy resin market to continue to rise, but the high cost transfer also needs time digestion, and the downstream order situation will continue to be concerned.

According to the data monitored by the business agency, as of March 29, the average price of domestic rubber grade high-grade silica was 4733.33 yuan / ton. The market of silica was mainly stable, the downstream just needed to purchase, the traders were active in shipping, the negotiation atmosphere was flat, and the mainstream price range was 4000-5000 yuan / ton.

The domestic rubber grade silica market has a stable overall trend with stable price. The main contract orders are the main ones, and the downstream just needs to purchase. The purchasing atmosphere is flat. The number of new orders is limited. Most of the new orders are mainly discussed. The merchants have a stable mentality and general negotiation atmosphere. The merchants are cautious in taking the goods and slow in shipping. The overall market supply and demand is balanced, the shipping is normal, and the inventory is general.

Chemical industry index: on March 28, the chemical industry index was 1012 points, unchanged from yesterday, down 3.53% from 1049 points (2021-03-10), the highest point in the cycle, and up 69.23% from 598 points, the lowest point on April 8, 2020. (Note: period refers to the period from December 1, 2011 to now)

Hydrochloric acid index: on March 28, the hydrochloric acid commodity index was 52.63, which was the same as yesterday, decreased by 47.37% compared with the highest point of 100.00 (2011-09-12), and increased by 192.71% compared with the lowest point of 17.98 on September 5, 2012. (Note: period refers to 2011-09-01 to now).

Business community silica analysts believe that: in the short term, the silica market runs smoothly, and the price fluctuation range is limited. (to know more about the industry chain market trends, welcome to pay attention to the official account of the business community, obtain commodity information, and grasp the commodity price).

From March 22 to March 26, 2021, the crude benzene market price decreased. The domestic ex factory price was 4695 yuan / ton at the beginning of the week and 4271 yuan / ton at the end of the week, with a weekly drop of 9.03%.

In March 2021, Sinopec’s listed price of pure benzene was lowered three times. At present, it has implemented 6350 yuan / ton, of which Qilu Petrochemical has implemented 6150 yuan / ton. This week, it has been lowered twice in a row, with a total reduction of 300 yuan / ton.

This week, the bidding price of crude benzene dropped sharply. The bidding price in Shandong fell to 4150 yuan / ton, 530 yuan / ton lower than last week. The operation rate of downstream hydrobenzene is about 60%, which is lower than that of last week. The demand for crude benzene has decreased to a certain extent. Under the rhythm of slowing demand, it is expected that the bidding price of crude benzene will decrease this week.

In the future, the business community believes that although the overall start-up of hydrogenated benzene plants has declined due to various factors, most of the plants have gradually returned to normal, and the price difference between hydrogenated benzene and crude benzene is large, the profits of hydrogenated benzene enterprises have improved to a certain extent, and the operating rate is still expected to gradually rise in the future. The price of crude benzene and crude benzene fluctuated in the near future, but the price of crude benzene and crude benzene fluctuated in the future.

Magnesium market trend

On March 26, 2021, the price range of magnesium ingots (99.9%, non pickling, simple packaging) in the main production areas in China was 15250-15600 yuan / ton, mainly through negotiation.

The specific price range of each region is as follows:

In fugu area, the ex factory spot exchange including tax is 15250-15400 yuan / ton; in Taiyuan area, it is 15400-15500 yuan / ton; in Wenxi area, it is 15500-15600 yuan / ton; in Ningxia area, it is 15300-15400 yuan / ton.

Magnesium ingot is original magnesium ingot according to national standard (GB / t3499-2011); non pickling, no wooden pallet and non payment acceptance price, mainly based on single negotiation.

According to the data of the business association, the quotation of the main production areas is about 15400 yuan / ton at present, and the quotation is weak and stable on the 26th.

The recent failure of magnesium ingot Market to continue the previous strong market is mainly based on the following factors:

1. overseas affected by COVID-19, the demand for magnesium ingot weakened and the export of magnesium ingot decreased.

2. The domestic demand for magnesium ingots is relatively strong, and the downstream operation rate is relatively high, but the inventory of downstream magnesium alloy plants and magnesium powder plants is relatively sufficient;

3. After the price rises in the early stage, the market mainly digests the increase in recent years. At present, the purchase volume in the market is reduced, and the purchase on demand is the main, and the overall trading is not prosperous;

4. The mainstream manufacturers have the periodical operation demand of withdrawing funds.

According to the price monitoring of the business society, the domestic spandex market price fell slightly in the past week. As of March 25, the average ex factory price of the domestic spandex market was 67600 yuan / ton, down 1.46% from the previous week and up 113.92% year on year. The start-up of the industry was maintained at around 90%. The supply of manufacturers was basically stable except that some of them were tight. The downstream customers bought on demand. The overall market outlook was strong.

Current mainstream price statistics of spandex market (unit: yuan / ton)

20D 30D 40D

Zhejiang: 82000-85000 73000-75000 65000-68000

Shandong: 83000-86000 74000-76000 65000-68000

Fujian 83000-86000 74000-76000 65000-68000

Jiangsu Province: 82000-85000 73000-75000 65000-67000

In recent years, PTMEG in raw material market has been in consolidation operation, and BDO in cost side has a limited decline range, which is still at a high level as a whole. In terms of price, 1800 molecular weight is still available, and the mainstream factory offers around 40000 yuan / ton, and 35000-42000 yuan / ton is referred for actual negotiation. In April, the number of unit maintenance increased, including 135000 tons in Jiaxing Xiaoxing, 60000 tons in Hangzhou Sanlong and 50000 tons in Xinjiang Meike. At present, the 60000 ton unit in Panjin Changchun has low operating load, and the rest of the units are in stable operation, with 80% of the whole industry in operation. The pure MDI market is temporarily stable, and the market negotiation is between 24500-25500 yuan / ton by telegraphic transfer and self delivery in barrels. In March, the listing price of pure MDI barrels of Wanhua chemical was RMB 28000 / ton, with a month on month increase of RMB 4000 / ton. In February 2021, the settlement price was 22500 yuan / ton, with a month on month increase of 900 yuan / ton.

Recently, all textile factories have resumed normal production, and the output has increased significantly. However, the end customers are not in a high mood to take the goods. 60% of the round machine industry started, and 70-75% of the warp knitting industry started, so we should wait and see. The number of fabrics in the market has decreased significantly compared with that in the past few years, especially the grey cloth produced with high price raw materials. The downstream market has a strong wait-and-see mentality, and the sales volume is shrinking. At present, the operating rate in Shengze is about 80%. Because the market has slowed down, the overall grey cloth inventory is now stable at about 38 days.

Business analysts believe that the cost support is not strong, the terminal market is not high mood to take goods, enterprises mainly to return funds to inventory, trading atmosphere is flat. It is expected that in the short term, the price of spandex is stable and weak.

Since the middle of March, the dimethyl ether Market has been falling one after another, and the market transaction atmosphere is weak. On March 14, the average price of DME was 0.31340 yuan / ton, down from March 14 in Henan. As of March 23, the domestic market prices of dimethyl ether are as follows:

Region specification Date Quotation

Mass fraction of dimethyl ether in Shandong area: ≥ 99.0% March 223250 yuan / ton

The mass fraction of dimethyl ether in Hebei area: ≥ 99.0% March 223200 yuan / ton

Mass fraction of dimethyl ether in Henan Province: ≥ 99.0% March 223050-3110 yuan / ton

According to the trend chart of dimethyl ether, it is obvious that the overall trend of dimethyl ether Market is weak from the middle of the year, and the price has been reduced one after another. First of all, in terms of cost, the upstream methanol market began to decline from March 12, with a relatively obvious range. As of March 22, the methanol market had declined by 5.37%, and the current market had not improved significantly. The weakening cost has brought a certain blow to the dimethyl ether Market. The second is the liquefied gas market of related products. In late March, the civil gas market was also weak. It was not until the 22nd that the market improved, but the upward range was relatively limited. At present, the price difference between gas and ether was maintained at about 500-600 yuan / ton, which brought very Limited benefits to the dimethyl ether Market. At present, the market supply of dimethyl ether has weakened, and Jiujiang xinlianxin dimethyl ether plant has started, but Shengxin, Yongmei and other manufacturers’ plants have not been restarted. The lower reaches are cautious, not active in entering the market, and the market trading atmosphere is weak. The pressure of delivery is great, but the inventory is basically controllable.

Other impacts: on March 15, the Beijing News published an investigation report “adulterated liquefied gas: many local gas stations make profits by mixing a large amount of dimethyl ether, which experts say is easy to cause accidents”, exposing the phenomenon of selling liquefied gas mixed with dimethyl ether in individual LPG stations in Henan and Anhui. On the 18th, the market supervision bureau of Henan Province and the market supervision bureau of Anhui Province respectively responded to the adulteration of LPG.

In response, the Henan provincial market supervision bureau said that it had sent relevant department staff to Shangqiu to participate in the field investigation, and conducted a thorough investigation on the causes of the confusion of LPG adulteration. In addition, special actions will be carried out throughout Henan Province to crack down on illegal activities such as adulteration of liquefied gas in combination with the investigation.

Anhui Provincial Bureau of market supervision responded that it has urged Suzhou Municipal Bureau of market supervision to intensify its work and conduct rapid investigation and disposal. Next, we will focus on LPG, bottled LPG pressure regulator and hose for gas appliance connection, and take product quality supervision and random inspection and law enforcement inspection in circulation field as the main content to organize and carry out a three-month investigation of product quality and safety risks.

On the whole, the continuous decline of methanol cost has brought bad news to the market, and the civil aspect of LPG is also weak. Although there is a small rise in a narrow range, the good news to the market is limited. Downstream mentality cautious, market enthusiasm is not high, the market atmosphere is weak. At present, the manufacturers are under great pressure to ship, and the inventory is temporarily controllable. In terms of demand, terminal demand is expected to weaken, and dimethyl ether Market is expected to be easy to fall but difficult to rise in the future.

1、 Price trend

This week, the distribution price of sulfuric acid in Shandong Province was temporarily stable, with the quoted price of 402.50 yuan / ton. Overall, this week’s sulfuric acid market was temporarily stable, with the sulfuric acid commodity index at 62.65 on March 19.

2、 Market analysis

From the quotation of manufacturers, the price of mainstream sulfuric acid manufacturers in Shandong Province was temporarily stable this week, with large inventory and general downstream demand. At the end of the week, Heze Jiangyuan quoted 560 yuan / ton, which was temporarily stable compared with the beginning of the week; Zouping Tianlu quoted 490 yuan / ton, which was temporarily stable compared with the beginning of the week; Jinan Yuanfei quoted 400 yuan / ton, which was temporarily stable compared with the beginning of the week; Taiyuan kunshengda quoted 120 yuan / ton, which was temporarily stable compared with the beginning of the week.

From the perspective of the upstream and downstream industry chain, the sulfur market in the upstream has been rising step by step recently, and the cost support is good. Moreover, the market prices of monoammonium phosphate, diammonium phosphate and bromine in the downstream are also rising, which has a positive impact on sulfuric acid.

3、 Future forecast

In late March, the sulfuric acid Market in Shandong may rise slightly. The price of sulfur in the upper reaches has been rising step by step recently, while the market in the lower reaches is better. The purchasing enthusiasm of sulfuric acid in the lower reaches is normal, and the trend of products rises under the contradiction between supply and demand. Business community sulfuric acid analysts believe that the short-term Shandong market in the supply and demand and raw materials and other aspects of the impact of sulfuric acid market or small shock rise.

According to the data monitoring of business news agency, the domestic cis-1,4-polybutadiene rubber market rose during the week (3.15-3.19), with the price at 13960.00 yuan / ton at the beginning of the week and 13280.00 yuan / ton at the weekend, up 2.47% overall.

This week (3.15-3.19), the domestic cis-1,4-polybutadiene rubber market rose, and the ex factory price of cis-1,4-polybutadiene rubber increased by 300 yuan / ton. According to the monitoring of business agency, as of March 19, the ex warehouse price of Daqing cis-1,4-polybutadiene rubber of PetroChina Northeast sales company was 13800 yuan / ton; Qilu cis-1,4-polybutadiene rubber of Sinopec North China sales company was 13700 yuan / ton, and North China warehouse was raising the price; Yanshan cis-1,4-polybutadiene rubber was 13620 yuan / ton, and North China warehouse was raising the price.

On Monday, a fire broke out in Maoming Petrochemical’s cis-1,4-polybutadiene rubber plant, and the plant was shut down. The overall supply side of the market was tight, and the supply price and market price of cis-1,4-polybutadiene rubber both went up.

Raw material prices have softened slightly this week, and the cost side is weak. According to the monitoring of business news agency, as of March 19, the price of butadiene was 8441 yuan / ton, down slightly by 0.07% compared with 8446 yuan / ton at the beginning of the week.

On the demand side, after the Spring Festival, the downstream market started to recover gradually, and the downstream stock increased, but recently there was a conflict with high price rubber, and the stock decreased slightly.

Future forecast: business community analysts believe that at present, although the supply side is still tight, the price of raw material butadiene is weak, the international crude oil adjusted sharply on the 18th, the peak of downstream phased procurement has passed, and the overall support for cis-1,4-polybutadiene rubber is weak. It is expected that cis-1,4-polybutadiene rubber will face a slight decline and adjustment in the short term.

According to the monitoring data of the business news agency, the external price of ethylene has dropped recently. On March 16, the price was US $1196.25/ton, and on March 17, the average price of ethylene was US $1161.25/ton, down 2.93%. The current price has increased by 19.44% month on month, and the current price has increased by 69.59% year on year.

In the near future, the overall external ethylene market showed a downward trend. Asian ethylene market prices fell sharply. As of the 17th, CFR Northeast Asia closed at 1198-1204 US dollars / ton, CFR Southeast Asia closed at 1143-1150 US dollars / ton. The price of ethylene market in Europe fluctuated and consolidated. As of the 17th, FD closed at US $1219-1231 / T in northwest Europe and CIF closed at US $1208-1219 / T in northwest Europe. The price of ethylene in the United States is relatively stable. As of the 17th, the price is US $1288-1300 / ton. Recently, the market of ethylene in Europe, America and Asia shows a slight downward trend. Generally speaking, the external market of ethylene is cold and the market tends to go down.

International: on March 16, the price of WTI crude oil futures market in the United States closed lower, with the settlement price of the main contract at US $64.80/barrel, down US $0.59. Brent crude oil futures market prices fell slightly, the settlement price of the main contract was 68.39 US dollars / barrel, down 0.49 US dollars. Crude oil futures closed lower, mainly due to the slow recovery of US refineries after extreme weather, and the market expects us crude oil inventories to continue to rise.

Recently, the Styrene Market in Shandong continued to fall. Crude oil fell in a weak position, pure benzene price fell slightly, ethylene price was firm, and styrene cost was well supported. Due to the strong price of raw materials, the price of styrene has been greatly reduced, and the profit of styrene has been rapidly compressed to the theoretical cost, so there is limited room for further decline. On the supply side, new units are about to be put into production, of which the 450000 ton unit of Sinochem Quanzhou is planned to produce products from March 15 to 20, other pre maintenance units will also be restarted one after another, and the 600000 + 600000 ton unit of Zhejiang Petrochemical, which was reduced to 50-60% last week, has been in full production at the weekend. Although the increase of styrene export leads to the realization of terminal destocking and the continuous strength of external market, the demand for styrene is weak due to sufficient spot supply, high price and strong wait-and-see sentiment at downstream and terminal. It is expected that styrene will continue to fluctuate weakly in the short term.

Ethylene analysts of business society chemical branch think: at present, in terms of crude oil, the uncertainty of crude oil demand has hit the market enthusiasm, crude oil is on a downward trend, and it is difficult to support the ethylene market in terms of cost. Therefore, data analysts of business society expect that the external price of ethylene will mainly fall next.

1、 Price trend

According to the data monitored by the business society (the average price of SG5 manufactured by calcium carbide method), on March 15, the mainstream average price of PVC in China was 8725 yuan / ton, up 1.31% over the previous trading day, 18.71% over the same period of last year, and 39.88% over the same period of last year.

2、 Market analysis

Last week, the PVC market was relatively volatile, with mixed ups and downs. The whole week showed a slight upward trend. Due to the rising futures prices and the strong support of the cost side, the rising sentiment of PVC market continued to this week. On Monday, there was a large-scale rise. The price increase in most regions was about 200-350 yuan / ton, and the price exceeded 9000 yuan / ton. Some enterprises also stayed on the sidelines. Recently, the futures price has been in a strong shock, which has driven the focus of the spot market upward. Under the mentality of buying up but not buying down, the downstream has increased the heat of inquiry. However, it still takes time for high price PVC to transmit to the downstream. At present, the downstream start-up load is not high, and only just need to purchase, but the social inventory has decreased year-on-year, which shows that the demand support is still in progress, and the market transaction has gradually improved; the PVC export orders are good, and the external market is strong, which is good for PVC upward; under the policy of double control of energy consumption in Inner Mongolia, the raw calcium carbide has increased by more than 30%, and there is no sign of callback, so the cost support is strong; moreover, the cost support is strong Some PVC enterprises have maintenance plans, and the market supply side is favorable, which supports the upward movement of PVC. On the whole, PVC is positive, the rising wind is not easy to change, and the market is strong.

In terms of spot price, the price has increased in a large area, and the mainstream quotation range of pvc5 calcium carbide in China is around 8500-9100 yuan / ton. The main stream of pvc5 calcium carbide in East China is RMB 9000-9150 yuan / ton, the main stream of pvc5 calcium carbide in North China is RMB 8900-9000 yuan / ton, the main stream of pvc5 calcium carbide in South China is RMB 9000-9050 yuan / ton, the main stream of pvc5 calcium carbide in Central China is RMB 8850-9000 yuan / ton, and the price of PVC calcium carbide in Southwest China is RMB 8900-9000 yuan / ton.

In terms of futures, futures fluctuated at a high level, reaching a new high in nearly 10 years, driving the spot trend. On the 15th, v2105 contract opened at 8840, with the highest price of 9190 and the lowest price of 8770, closing at 9150, up 390, or 4.45%. The turnover was 930000, an increase of 380000. The position was 402000, an increase of 65538.

15 March 2005

Changzhou PVC calcium carbide process: 9000-9200 yuan / ton

Guangzhou ﹣ PVC ﹣ calcium carbide method ﹣ 8930-9050 yuan / ton

Hebei PVC calcium carbide process: 8950-8980 yuan / ton

Hangzhou ﹣ PVC ﹣ calcium carbide method ﹣ 8960-9150 yuan / ton

Shandong PVC calcium carbide method 8800-8950 yuan / ton

For upstream crude oil, on March 12, the price of WTI crude oil futures market in the United States fell slightly, with the settlement price of the main contract at US $65.61/barrel, down US $0.41. Brent crude oil futures market prices fell slightly, the settlement price of the main contract was 69.22 US dollars / barrel, down 0.41 US dollars. Oil prices fell slightly due to profit taking by bulls, but the current price is still relatively strong and volatile. On the one hand, the expectation of economic recovery is enhanced, and on the other hand, OPEC + production reduction policy supports oil prices.

On March 15, the reference price of ethylene was 1194.50, up 8.12% from March 1 (1104.75). Next, the world’s gasoline prices will rise sharply, so foreign analysts are optimistic about the current situation of ethylene prices.

On March 15, the reference price of calcium carbide was 4716.67, up 32.24% compared with that on March 1 (3566.67). On March 15, the ex factory quotation of calcium carbide in Northwest China rose, up 383.34 yuan / ton, or 8.85% compared with that on March 12. The price of raw material blue carbon was high and the cost of calcium carbide was well supported. The downstream PVC market has risen slightly recently, with higher prices compared with the same period last year. The downstream customers have a good enthusiasm for purchasing calcium carbide, and the market demand exceeds supply. The main reason for the rise of calcium carbide in Inner Mongolia is the double control of energy consumption, power limitation and furnace shutdown.

3、 Future forecast

PVC analysts of business news agency believe that at present, the PVC futures are relatively strong and volatile, and have been surging up for many times, driving the focus of the spot market to move up. Under the mentality of buying up but not buying down, the downstream has increased the heat of inquiry, and the market trading atmosphere has improved. In addition, the price of raw material calcium carbide has risen sharply, the external offer is strong, and the maintenance is good. Under the superposition of many factors, the PVC market has been pushed up again, and the price may continue to rise in the short term.