Domestic market trends of mixed xylene on November 28

1、 Price summary of mixed xylene on November 25:

 

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Qingdao Refining&Chemical Co., Ltd. quoted 7800 yuan/ton, Shijiazhuang Refining&Chemical Co., Ltd. quoted 7100 yuan/ton,

 

Jiujiang Petrochemical quoted 7850 yuan/ton, Yangba (solvent) quoted 7700 yuan/ton,

 

Guangzhou Petrochemical quoted 7850 yuan/ton, Maoming Petrochemical quoted 7800 yuan/ton,

 

Changling Refining&Chemical Co., Ltd. quoted 7850 yuan/ton,

 

Xinhai Petrochemical quoted 7800 yuan/ton.

 

2、 Fluctuation trend:

 

 

3、 Analysis and comments:

 

In terms of crude oil, the market focus is on the issue of the price ceiling of Russian oil in western countries, and no agreement has been reached at present; The oil price continues to be under pressure due to overlapping demand concerns.

 

Today, Sinopec cut 200 yuan/ton for mixed xylene in East China, 150 yuan/ton for mixed xylene in South China, and 200 yuan/ton for mixed xylene in Xinhai Petrochemical.

 

The crude oil fell continuously, the market pessimism increased, and the market atmosphere was strong because of the poor negotiation atmosphere. Sinopec continuously lowered the listing price of mixed xylene, and the spot market followed suit.

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The propane market rose first and then fell in November, which was not optimistic

In November, the domestic propane market rose in shock, while the Shandong propane market rose in difficulty. According to the data monitoring of the business community, the average price of Shandong propane market was 5670 yuan/ton on November 1, and 5795 yuan/ton on November 25. The monthly increase was 2.19%, down 3.594% compared with the same period last year.

 

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As of November 25, the mainstream prices of propane in different regions in China are as follows:

Region/November 25

South China/5650-5750 yuan/ton

North China/5880-9800 yuan/ton

Shandong/5700-5850 yuan/ton

Northeast China/5700-5800 yuan/ton

In November, the domestic propane market rose as a whole. The Shandong propane market rose significantly in the first ten days of the year, and then began to fluctuate and decline to the end of the month. At the beginning of the month, the CP price rose in November, which boosted the confidence of the industry, superimposed the stock position in the market, and promoted the price rise by periodic replenishment in the downstream. As of November 9, the price of propane had risen to 5832 yuan/ton, up 2.85% from the beginning of the month. Subsequently, the price of crude oil fell for many times, which depressed the mentality of the operators. At the same time, affected by poor transportation, high temperature and other negative factors, the enterprises gave up profits and sold goods, and the market fell at the end of the month.

 

Saudi Aramco introduced CP in November 2022, and propane was 610 dollars/ton, up 20 dollars/ton from last month; Butane is 610 dollars/ton, up 50 dollars/ton from last month..

 

In general, the cost side support is weak, and the demand is squeezed due to various influences. It is expected that the propane market price will be weak in December, or it will be dominated by shocks.

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On November 24, the domestic urea price rose by 0.73%

Trade name: urea

 

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Latest price (November 24): 2744 yuan/ton

 

On November 24, the comprehensive price of domestic urea rose slightly, 0.73% higher than that on November 23, and 9.76% higher than that on the same period last year. The price of upstream Yangquan anthracite (washing medium block) is about 1630 yuan/ton, with high price consolidation and good cost support. In terms of demand, winter storage of chemical fertilizers has been fully started, and industrial demand has increased. The operating rate of the compound fertilizer plant has risen, and the enthusiasm for urea procurement is good. The board and melamine enterprises started in general, and just needed to purchase. From the perspective of supply: environmental protection inspection in Shanxi, the resumption of work was delayed, gas enterprises began to stop for maintenance, and daily urea production further decreased. Meanwhile, the delivery of urea is blocked.

 

In the future, the domestic urea market price is expected to rise slightly, with the average market price at about 2760 yuan/ton.

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Weak stalemate in propylene oxide market (11.18-11.23)

According to the monitoring data of the business community, as of November 23, the average price of propylene oxide enterprises was 9700.00 yuan/ton, 1.29% lower than that of last Friday (November 18), and 0.09% higher than that of November 1.

 

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Recently, the propylene oxide market has been stuck in a stalemate, and the high-end prices of some enterprises have been lowered. From the perspective of cost, the market price of raw propylene has risen slightly recently, and the cost support is average. From the perspective of supply and demand, the supply side devices have partially recovered, the northern part has accumulated a little but the pressure is temporarily controllable, the downstream is mainly cautious, the purchasing atmosphere is weak, and the market trading is average. On the 23rd, the mainstream quotation of the propylene oxide market in Shandong was around 9150-9300 yuan/ton.

 

On November 22, the reference price of upstream propylene was 7306.60, up 3.84% compared with November 1 (7036.60).

 

The epoxy propane analysts of the business community believe that the current cost support is limited, the supply side shipment is fair, and the demand side is mainly wait-and-see. It is expected that in the short term, the epoxy propane market will be deadlocked, and more attention should be paid to the market news guidance.

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Weak cyclohexane market (11.15-11.22)

According to the data monitored by the business community, as of November 22, the average price of domestic industrial grade premium cyclohexane was 7466.67 yuan/ton, down 4.27% from the same period last week, or about 400 yuan/ton. At present, the price of cyclohexane is weak, the overall market operating rate is stable, and downstream just needs to purchase.

 

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The average price of domestic industrial grade cyclohexane is 7466.67 yuan/ton. At present, the quotation range of mainstream manufacturers is about 7500 yuan/ton. The overall market of cyclohexane is stable and weak, the purchasing atmosphere is fair, and the supply side is normal. The latest prices of enterprises are: Jinan Hengtong Chemical Co., Ltd. 7200 yuan/ton, Shandong Lincheng Chemical Products Co., Ltd. 7200 yuan/ton, Jinan Jutai Chemical Co., Ltd. 7200 yuan/ton, and Shandong Yushu Chemical Co., Ltd. 7300 yuan/ton.

 

Chemical index: On November 21, the chemical index was 942 points, up 1 point from yesterday, down 32.71% from the cycle’s highest point of 1400 points (2021-10-23), and up 57.53% from the lowest point of 598 points on April 8, 2020. (Note: the cycle refers to the period from December 1, 2011 to the present).

 

Cyclohexane analysts from the business community believe that the cyclohexane market is weak in a narrow range in the short term.

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