The price of ortho xylene fluctuated and fell in May

According to the Commodity Market Analysis System of the Business Society, as of May 25th, the price of ortho xylene was 8100 yuan/ton, a decrease of 700 yuan/ton or 7.95% compared to the 8800 yuan/ton price of ortho xylene on May 1st at the beginning of the month. The price of mixed xylene fluctuated and fell, while the downstream phthalic anhydride market fluctuated and fell. The ortho benzene industry chain market was weak, and in May, the ortho xylene price fell, while the ortho benzene market fluctuated and fell.

The raw material mixed xylene market fluctuated and fell in May

According to the market analysis system of mixed xylene products in the Business Society, as of May 25th, the price of mixed xylene was 7430 yuan/ton, a decrease of 400 yuan/ton or 5.11% compared to the price of 7830 yuan/ton on May 1st at the beginning of the month. In May, the price of mixed xylene fluctuated and fell, while in the middle of the month, the price of mixed xylene rebounded and rose. The cost of ortho xylene stopped falling, and the downward pressure on the ortho xylene market weakened.

Downstream phthalic anhydride market fluctuates and falls

According to the market analysis system of phthalic anhydride products in the business society, as of May 25th, the quotation for neighboring phthalic anhydride was 8075 yuan/ton, a decrease of 1.82% compared to the price of 8225 yuan/ton on May 1st. In May, the price of phthalic anhydride fluctuated and fell. In the middle of the month, the price of phthalic anhydride stopped falling and rebounded. Exports increased, while the price of Naifa phthalic anhydride stopped falling and rose. The phthalic anhydride market rebounded and rose, and the upward momentum of adjacent xylene market increased.

Future prospects

Analysts from Business Society’s neighboring xylene data believe that in May, the prices of mixed xylene and phthalic anhydride fluctuated and fell, resulting in a weak neighboring benzene industry chain. In May, the prices of neighboring benzene fluctuated and fell. At the end of the month, the price of mixed xylene stopped falling and rebounded, while downstream phthalic anhydride prices rebounded and rose. The market of the ortho xylene industry chain rebounded, and the downward pressure on the ortho xylene market weakened. In the future, mixed xylene has stopped falling and risen, and the cost support for ortho benzene has increased. Exports have increased, and the price of phthalic anhydride has rebounded and increased. Downstream demand has temporarily stabilized, and the upward momentum for ortho benzene still exists. Overall, the cost support for adjacent xylene in the future is still supported by stable demand, and it is expected that the price of adjacent xylene may stop falling and rise in the future.

According to the Commodity Market Analysis System of the Business Society, from May 15th, bullish factors were digested by the market, resulting in a weakening of terminal demand and a continuous decline in the market. On May 15th, the average market price of hydrogen peroxide was 1033 yuan/ton. On May 23rd, the average market price of hydrogen peroxide was 840 yuan/ton, with a price drop of 18.71%.

Bad news strikes, hydrogen peroxide market continues to decline

In mid May, the favorable factors after the holiday were digested, and the demand for hydrogen peroxide in the market weakened, leading to a decline in the hydrogen peroxide market. As of May 18th, the prices quoted by hydrogen peroxide manufacturers have decreased, with mainstream prices ranging from 900 to 950 yuan/ton, a decrease of 50 to 100 yuan/ton.

On May 23rd, the hydrogen peroxide market continued to decline, with the price of Zhengyuan hydrogen peroxide in Hebei dropping to 770 yuan/ton, Jincheng Petrochemical quoting 730 yuan/ton for hydrogen peroxide, and the average market price of Mingshui hydrogen peroxide was 800 yuan/ton, with an overall decrease of 150-200 yuan/ton.

Li Bing, a chemical analyst at Business Society, believes that the positive factors have been realized, terminal demand is sluggish, and the market for hydrogen peroxide will still weaken in the future.

1、 Price trend

According to the commodity analysis system of the business agency, the domestic isobutyraldehyde market price fell sharply this week. This week, the average price of domestic isobutyraldehyde mainstream market fell from 9200.00 yuan/ton at the beginning of the week to 8533.33 yuan/ton at the end of the week, a decline of 7.25%. Weekend prices fell 47.65% year-on-year. On May 21, the isobutyraldehyde commodity index was 43.32, unchanged from yesterday, a decrease of 58.97% from the cycle’s highest point of 105.58 points (2021-09-16), and an increase of 43.82% from the lowest point of 30.12 points on October 7, 2022. (Note: The cycle refers to the period from September 1st, 2021 to present)

2、 Market analysis

From the supply side perspective, the prices of mainstream manufacturers of isobutyraldehyde have significantly decreased this week, resulting in low inventory.

From the perspective of the upstream and downstream industry chains, the propylene market in the upstream raw material market of isobutyraldehyde has slightly increased this week, with prices rising from 6870.60 yuan/ton at the beginning of the week to 6933.25 yuan/ton at the weekend, an increase of 0.91%. There is a downward trend in prices over the weekend, with a year-on-year decrease of 16.77%. The price of upstream raw material market rose slightly, with general cost support. Affected by the supply and demand side, the price of isobutyraldehyde was positively affected. From the perspective of the downstream industry chain, the market price of neopentyl glycol fell slightly, from 10766.67 yuan/ton at the beginning of the week to 10633.33 yuan/ton at the end of the week, down 1.24%. The market situation of neopentyl glycol has slightly declined, and downstream demand has weakened, which has a negative impact on isobutyraldehyde.

3、 Future prospects

The market trend of isobutyraldehyde in late May may be mainly fluctuating and declining. The upstream propylene market is showing a downward trend, with insufficient cost support. The downstream market for neopentyl glycol has slightly declined, and downstream procurement enthusiasm has weakened. Some manufacturers have resumed production, resulting in an increase in isobutyraldehyde flux. Business Society isobutyraldehyde analysts believe that in the short term, the isobutyraldehyde market may experience slight fluctuations and declines due to various factors such as supply and demand and raw materials.

Chart of nitric acid market price trend

According to the monitoring of the Commodity Market Analysis System of the Business Society, the average price of nitric acid on May 15th this week was 2400 yuan/ton, and on May 19th it was 2233 yuan/ton, a decrease of 6.94% in price.

On May 15th, mainstream enterprises in East China quoted prices ranging from 2000 to 2200 yuan/ton, while those in the North and Central China quoted prices ranging from 1800 to 2000 yuan/ton. At present, the concentrated nitric acid market is mainly dominated by order sales, and the market atmosphere is cold. There is an urgent need for positive support, with a focus on market transactions.

During the period of 5.15-5.19, upstream liquid ammonia increased by 0.83%, downstream aniline prices decreased by 4.23%, TDI prices decreased by 7.5%, and potassium nitrate prices decreased by 1.4%. Although the price of raw material liquid ammonia has increased, the downstream prices of potassium nitrate, aniline, and TDI have all decreased. In addition, the downstream demand for nitric acid is weak, but the demand for pesticides, pickling, and other industries is sluggish. The price of nitric acid continues to decline, and nitric acid analysts at Business Society predict that the price of nitric acid may be mainly volatile and weak.

Price trend

In May, the PA66 market in China underwent a narrow adjustment. According to data monitoring from Business News Agency, the average factory price of PA66 in China on May 16th was 20766.67 yuan/ton, with a price increase or decrease of+2.13% compared to the beginning of the month.

Cause analysis

Last week, the PA66 market underwent a narrow adjustment, and overall, the spot prices of various brands have increased over the past half month. In terms of supply, the overall load of the domestic PA66 industry is currently below 66%, which has decreased compared to the previous period. The contraction of supply has formed a certain support for the spot market, but the overall market supply is still abundant, and the price increase of PA66 is limited. The pricing operation of enterprises is stable, and inventory pressure is average. On the upstream side, the raw material of adipic acid is stable in terms of hexamethylene diamine, while the adipic acid is fluctuating in operation. A large number of overhauled devices will alleviate the weakness of demand. In the future, it may continue to be bearish due to the weakness of crude oil. The PA66 raw material end has average support for spot goods. In terms of demand, the situation is stable with some weaknesses, and terminal enterprises need to follow up on their purchases. Buyers generally have limited acceptance of high priced goods. It is expected that PA66 may continue to consolidate its market in the short term.

Future Market Forecast

Last week, the spot price of PA66 remained stable. The raw material market has remained stable with minor fluctuations, providing general support for the cost side of PA66. The load of PA66 enterprise has decreased, supply has tightened, and the overall inventory position is average. The demand side takes goods to maintain production, and it is expected that in the short term, PA66 may be supported by suppliers and tend to be more organized and operated.