According to the Commodity Market Analysis System of the Business Society, the recent PP market has been mainly volatile, with prices of various wire drawing brands falling within a narrow range. As of November 21st, the mainstream quoted price of T30S (wire drawing) by domestic producers and traders is around 7757.14 yuan/ton, with an increase or decrease of+0.09% compared to the average price level at the beginning of the month.

Cause analysis

Industry chain: In terms of PP raw materials, international crude oil has recently weakened due to Russia’s tariff adjustment and demand, while the domestic propylene market has been affected by the decline in crude oil prices. In terms of PDH, prices have increased due to the increase in transportation costs of natural gas and propane. The methanol market is relatively stable. Upstream raw materials fluctuate, and overall support for PP is average.

The flow of raw materials varies in all directions, and the cost side lacks strong support for PP. In terms of industry load, although there have been new production units in the polypropylene industry recently, some enterprises have had unplanned maintenance, with an average load of around 76%, a narrow decrease compared to the previous ten days. The overall supply of goods is abundant, and it is expected that there will be a steady increase in construction in the future, but the magnitude is not significant, and the pressure on on-site supply will remain. In terms of demand, downstream plastic weaving production has remained at around 46%, while the production rate of film and injection molding enterprises has remained above 60%, and the overall position has remained stable. Terminal enterprises maintain cautious operations when picking up goods, with average trading activity on the market, and the overall fluctuation of the wire drawing material market.

In terms of fiber materials, according to the commodity market analysis system of the Business Society, as of November 21, the spot price of domestic fiber PP has stabilized and operated. The mainstream quoted price of domestic producers and traders for Z30S (fiber) is around 7675 yuan/ton, with a 0% increase or decrease compared to the average price at the beginning of the month, and a 4.60% decrease compared to the same period last year. Recently, the load of downstream non-woven fabric enterprises, the main force of PP fiber materials, has remained the same as in the previous period, with an operating rate of over 38%. The demand for fiber materials in the market is step-by-step, and the prices of non-woven fabrics are in line with the market. The digestion speed of end products is average. It is expected that in the short term, fiber materials may continue to operate in a narrow range due to the game market trend.

In terms of melt blown materials, the recent melt blown PP market has experienced narrow fluctuations. As of November 21st, the average quotation of domestic melt blown material sample enterprises monitored by the Commodity Market Analysis System of the Business Society is about 8262.50 yuan/ton, which is a -1.05% increase or decrease compared to the average price level at the beginning of the month, and a 8.53% decrease compared to the same period last year. At present, the demand for facial protection in China has returned to normal, and the impact of seasonal changes has also driven the consumption of medical meltblown fabric materials generally. There is also no significant boost in domestic and foreign demand. It is expected that the melt blown material market may maintain a narrow consolidation market.

Future Market Forecast

PP analysts from Business Society believe that the recent consolidation and operation of the polypropylene market is the main trend. The trend of upstream raw materials is mixed, and the cost side provides general support for the market. Terminal enterprises maintain their initial level of construction, and their procurement operations are biased towards just needs. In the short term, the new production and temporary inspection of PP devices will remain unchanged, and it is expected that the PP market will maintain consolidation and operation in the short term. It is recommended to closely monitor international crude oil related news.

Recent price trends of hydrochloric acid

According to the Commodity Analysis System of the Business Society, the domestic hydrochloric acid market price has temporarily stabilized this week, with an average market price of 152.50 yuan/ton. Over the weekend, the price decreased by 6.63% year-on-year. On November 19th, the hydrochloric acid commodity index was 40.13, unchanged from yesterday, a decrease of 70.90% from the cycle’s highest point of 137.89 points (2021-10-26), and an increase of 123.19% from the lowest point of 17.98 points on September 5th, 2012. (Note: The cycle refers to the period from September 1st, 2011 to the present)

Upstream support is average, while downstream demand increases

From the supply side perspective, the domestic hydrochloric acid market prices have temporarily stabilized this week, and manufacturers’ inventory is average.

From the perspective of the upstream and downstream industrial chain of hydrochloric acid, the upstream liquid chlorine market has recently seen a slight increase, with good cost support. The downstream market price of polyaluminum chloride slightly decreased, with the market price dropping from 1763.75 yuan/ton at the beginning of the week to 1760.00 yuan/ton at the weekend, a decrease of 0.21%. The weekend price fell by 12.93% year-on-year. The downstream ammonium chloride market is consolidating at a low level. The market price is 695.00 yuan/ton, with a year-on-year decrease of 27.42% over the weekend.

Future Market Forecast

In late November, the market price of hydrochloric acid may fluctuate and rise mainly. The upstream liquid chlorine market has slightly increased over the weekend, with increased cost support. The downstream ammonium chloride and polyaluminum chloride markets have stabilized at low levels, and downstream purchasing willingness is average. Analysts from Business Society believe that the recent slight fluctuations and gains in the hydrochloric acid market are the main trend.

According to the commodity market analysis system of the Business Society, the industrial grade first class potassium nitrate in Shanxi was reported at 5425 yuan/ton at the beginning of the week, and the industrial grade first class potassium nitrate in Shanxi was reported at 5437.50 yuan/ton at the weekend, an increase of 0.23%, a month on month decrease of 0.23%, and the current price has decreased by 7.05% year-on-year.

potassium nitrate

The domestic potassium nitrate market has risen this week. From the above chart, it can be seen that the recent potassium nitrate market has been rising for three consecutive weeks, and the market continues to rise this week. Recently, the domestic potassium fertilizer market has seen a slight increase in prices, with acceptable cost support and a positive trading atmosphere, resulting in an upward trend in the market. According to statistics from Business News Agency, mainstream domestic manufacturers of potassium nitrate quoted 5100-5300 yuan/ton this week (for reference only), and the prices vary depending on the procurement situation.

Recently, the prices of mainstream domestic potassium chloride manufacturers have fluctuated and consolidated: the prices of salt lakes and Zangge potassium chloride have temporarily stabilized. The circulation of potassium chloride is tight, and the supply of goods at the port has slightly increased. Analysts from the Business Society believe that domestic potassium chloride import prices may slightly increase in the short term.

Recently, the domestic potassium fertilizer market has been on the rise, with limited supply of goods in the market. The port price of imported 62% white potassium is basically 2950-2980 yuan/ton. It is expected that the price of potassium nitrate will mainly increase in the short term, and the long-term market still needs to wait and see.

1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the average price of domestic ammonium sulfate market was 980 yuan/ton on November 10th, and 950 yuan/ton on November 16th. This week, the domestic ammonium sulfate market price fell by 3.06%.

2、 Market analysis

The domestic ammonium sulfate market price continued to decline this week. At present, market demand is weak and transactions are weak. Downstream and dealer inquiries are relatively few, resulting in an increase in the operating rate of downstream composite fertilizers and a demand for procurement of ammonium sulfate. The low prices in the international market have a bearish impact on the domestic market. As of November 16th, the mainstream factory quotation for coking grade ammonium sulfate in Shandong is around 900-930 yuan/ton. The mainstream factory quotation for domestic ammonium sulfate in Shandong is around 940-980 yuan/ton.

3、 Future Market Forecast

Analysts from Business Society’s ammonium sulfate market believe that the bidding price for ammonium sulfate has been continuously lowered recently, and the market situation has remained sluggish. The trading volume on the market is relatively low, and the bearish sentiment in the market remains. It is expected that the short-term market price of ammonium sulfate will be mainly weak and declining.

Acetic anhydride prices fluctuated and rose this week

According to the Commodity Market Analysis System of the Business Society, as of November 15th, the price of acetic anhydride was 5762.50 yuan/ton, an increase of 1.54% compared to the fluctuating price of 5675 yuan/ton on November 7th. The price of raw materials has increased, and acetic anhydride enterprises are operating under capacity. This week, the price of acetic anhydride has fluctuated and increased.

The operating load of domestic acetic anhydride manufacturers has decreased. Last week, some of Yankuang’s acetic anhydride equipment briefly shut down. Overall, the inventory of acetic anhydride manufacturers is insufficient, and the supply of acetic anhydride in the spot market has decreased, increasing support for the rise of acetic anhydride.

Acetic acid prices have risen this week

According to the market analysis system of acetic acid products in the Business Society, as of November 15th, the price of acetic acid was 3150 yuan/ton, an increase of 1.61% compared to the price of 3100 yuan/ton on November 7th. Some acetic acid enterprises have lowered their equipment parking load, combined with low inventory levels from manufacturers, resulting in a decrease in acetic acid supply. However, downstream demand for acetic acid is flat, and customer procurement enthusiasm is poor. Acetic acid manufacturers have limited willingness to support prices, but the price of acetic acid has stabilized after rising. There is some support for the cost of acetic anhydride, and there is still momentum for the rise of acetic anhydride.

Future prospects

Analysts from Business Society’s acetic anhydride data believe that the support for the rise of acetic acid is limited, but there is currently no downward trend for acetic acid, and the cost support for acetic anhydride still exists; The operating load of acetic anhydride manufacturers has decreased, the supply of acetic anhydride has decreased, and the upward momentum of acetic anhydride has increased, leading to an increase in the price of acetic anhydride. Overall, cost support still exists, and the supply of acetic anhydride has decreased. It is expected that the price of acetic anhydride will fluctuate slightly in the future.