Price trend

According to the data of business club’s block list, the domestic POM market continued to be active in the middle and late April, and the spot prices of various brands increased. As of April 21, the average offer price of the POM injection molding sample enterprises in the business community was about 15033.33 yuan / ton, up 2.50% compared with the average price at the beginning of the month.

Cause analysis

POM upstream formaldehyde, the beginning of this month, the domestic formaldehyde market continued to be weak. At the beginning of this month, the restart of some formaldehyde plants caused the lower reaches to conflict with high price sources, and the market transaction was blocked. Formaldehyde market showed a broad overall trend. The trading atmosphere of raw material methanol is general, the traders operate cautiously, and the support for formaldehyde is limited. At present, on-site purchase and sales have stabilized, and prices have returned to horizontal operation.

There is a callback in the upstream price position, and POM cost side support is general in the middle of the month. The shortage of domestic POM supply has increased, and enterprises are willing to report more. The reference price of Tianye Chemical M90 is about 14500 yuan / ton, which is for negotiation. Yuntianhua M90 ex factory reference price is about 16600 yuan / ton, firm offer for negotiation. The POM unit of Shenhua Ningmei coal works normally. The reference price of mc90 is about 14000 yuan / ton, with cash withdrawal. Compared with the previous period, there were certain increases. In the current maintenance season, enterprises are gradually reducing the burden, the supply is expected to be tight, and traders are reluctant to sell. The downstream operation is biased to just need to take the goods, and the price focus of POM continues to move up without hoarding.

Future forecast

Analysts of business news agency think: in late April, the domestic POM market atmosphere is still strong. Although formaldehyde trend is not good, POM cost support is weakened. However, there is a tight supply of goods on the floor, and the current supply side is favorable and dominates the market. Due to the high price of POM, the downstream resistance gradually accumulated. At present, under the pressure of high cost, the profit space of downstream enterprises is limited, which affects the consumption of POM. It is expected that the POM market will operate under the favorable situation of tight supply in the near future, and there may still be a slight increase.

Zinc price trend

According to the data monitoring of business news agency, the price of zinc fluctuated and adjusted in April, and the market of zinc fluctuated and rose slowly. As of April 20, the average price of zinc was 21926.67 yuan / ton, up 0.89% from 21733.33 yuan / ton on April 1.

Main market of domestic zinc ingot

According to the data in the statistical table, the low level of social inventory of zinc ingots was adjusted in January, the social inventory of zinc city increased sharply in February, the social inventory of zinc city decreased slowly in March and April, the zinc city continued to de inventory, the inventory of zinc city decreased, the supply of zinc city decreased, and the rising power of zinc city in the future increased.

Zinc ingot inventory in Bonded Zone

Statistics from the statistical table show that the high level of zinc ingot bonded zone inventory fell, zinc ingot supply was sufficient and decreased slightly. In the future, zinc ingot has limited downward pressure and insufficient upward momentum.

Inventory of Shanghai Futures Market

It can be seen from the statistical table that the inventory of zinc ingots in Shanghai futures market rose first and then fell in March, and increased slowly in April. Zinc supply is sufficient in the future, but the rise is slowing down.

Port inventory of zinc concentrate

According to the data in the statistical table, the port inventory of zinc concentrate is maintained at about 100000-150000 tons. Affected by the epidemic situation, the port inventory of zinc concentrate has remained at a high level in 20 years, and the port inventory of zinc concentrate has decreased significantly in 21 years, with a trend of breaking through 100000 tons. Zinc concentrate destocking speed up, zinc concentrate import enterprise import enthusiasm reduced, domestic zinc market supply or reduced.

Zinc processing fee

As of April, the domestic zinc concentrate processing fee is about 3700-4000 yuan / ton, which is the lowest level since September 18, and is far lower than the 6500 yuan / ton in 20 years. The lower processing fee has forced the zinc smelters to reduce their enthusiasm to start operation, the output of zinc market has decreased, and the zinc market is short of supply or reversely stimulated the increase of zinc concentrate processing fee. Zinc ingot supply may increase in the future.

Analysis summary and Prospect

Bai Jiaxin, an analyst of business society, believes that: in the near future, the de inventory of zinc market has accelerated, the social inventory of the main market of zinc City, the inventory of zinc ingot bonded zone, and the inventory of zinc concentrate port have decreased to varying degrees, the supply of zinc city has decreased, and the processing fee of zinc concentrate is low, the production enthusiasm of zinc concentrate smelting enterprises is not high, the import number of zinc concentrate is expected to decline, and the supply of zinc city is expected to decrease With the coming of peak season, the demand of zinc market will rise and the supply of zinc market will decrease, which is bound to stimulate the rise of zinc market. It is expected that the price of zinc will fluctuate in the future.

Trade name: CIS butadiene rubber BR9000

Latest price (April 19): 12660 yuan / ton

Analysis points: according to the monitoring of business society, the domestic price of cis-butyl rubber was 12660 yuan / ton on the 19th, down 2.31% from the previous day. On the one hand, the price of butadiene continues to weaken, and the cost side drags the cis-butadiene rubber. According to the business agency, the butadiene price as of April 19 was 6696 yuan / ton, down 9.69% from the beginning of the month; on the other hand, the enthusiasm of downstream procurement in the near future is not high, and some businesses ship at low prices. The factory price of cis-butyl rubber has been greatly reduced. According to the business agency, as of April 19, Daqing Shunding delivery price of CNPC Northeast sales company was 12500 yuan / ton.

Post market forecast: raw material price is low, and demand is weak. It is expected that the price of cis-butyl rubber will continue to be weak in the later period.

1、 Price trend

According to the data of business news agency’s block list, pure benzene first fell and then rose this week, and the price rose compared with last week. On April 11, the price of pure benzene was 6373-6850 yuan / ton (average price was 6664 yuan / ton), and on Sunday (April 18), the price of pure benzene was 6750-6950 yuan / ton (average price was 6820 yuan / ton), with an average price increase of 156 yuan / ton or 2.34% over last week and 103.58% over the same period last year.

2、 Analysis and comment

This week, pure benzene followed the trend of styrene, first fell and then rose. At the beginning of the week, the decline of styrene led to the weakening of pure benzene in East China. In the second half of the week, styrene futures rebounded. The spot supply of styrene in some areas was tight, and the price rose, while pure benzene rose. This week, the port is still in the channel of destocking. Although the speed of picking up goods is slowing down, the number of new arrivals is less. This week, Sinopec’s price of pure benzene was increased by 150 yuan / ton to 6850 yuan / ton, which strengthened the bottom support and boosted the market mentality.

In terms of external market, the price of pure benzene in Asia continued to rise this week, driven by crude oil. On Friday (April 16), the reference price of pure benzene in South Korea market was 937 US dollars / ton, up 75.33 US dollars / ton or 8.74% compared with April 9, and the import reference price of East China was 931 US dollars / ton, up 56 US dollars / ton or 6.4% compared with April 9.

In terms of crude oil, this week’s crude oil news was positive and the price rose. Good news: IEA and OPEC increase global crude oil demand, US commercial crude oil inventory decreases continuously, and refinery operation rate increases; bad news: OPEC + decides to gradually increase crude oil production, and the epidemic situation in Europe and other places is severe. On April 9, Brent rose $3.64/barrel, or 5.85%; WTI rose $3.84/barrel, or 6.47%.

Downstream: styrene: this week, the price of styrene dropped first and then rose, which was higher than that of last week. On April 18, the price of sample enterprises was 9210 yuan / ton, which was 4.26% higher than that of last week, and 78.83% higher than that of the same period last year. Crude oil prices rose, pure benzene and ethylene followed the strong trend, and styrene prices in the external market were firm, providing good support for the domestic market. As of April 14, the inventory in East China was 6.9 tons, down by 6000 tons in the week, and the inventory in ports was 95400 tons, down by 11100 tons in the week. In the downstream, the price of EPS rose, the wait-and-see mood was strong, and the transaction was general; the price of PS and ABS remained stable, and the transaction was just needed.

Aniline: the price of aniline continued to fall this week. Aniline plant operating rate is high, the market supply is sufficient, the enterprise price reduction row inventory. Aniline prices fell, driving the downstream follow-up to positive. In the second half of the week, horizontal arrangement was maintained. On April 18, the price of aniline in Shandong was 10200-10500 yuan / ton, while that in Nanjing was 10500 yuan / ton, down 14.75% from last week and up 87.95% from the same period last year.

3、 Future forecast

In terms of crude oil, there is still upward momentum for crude oil in the later stage. Crude oil trend mainly focuses on OPEC + crude oil production change, US commercial crude oil inventory and refined oil inventory, and global epidemic news

Downstream: styrene, the main downstream product: strong cost support, low inventory, tight spot, pushing up the price. However, as the price of styrene rebounded, the downstream acceptance of styrene declined, some markets began to resist, transaction volume decreased, and terminal demand continued to be weak. Starting next week, domestic overhaul units will be restarted, and new units will be put into operation. It is expected that the short-term spot tension in styrene market will be eased, suppressing the rising space of styrene.

Sinopec’s high price is strong, supporting the pure benzene market. Next week, the downstream styrene plant will be restarted, which will support the demand for pure benzene. Overall, short-term pure benzene prices continue to follow crude oil, styrene price fluctuations, prices firm. Continue to pay attention to the downstream market, domestic and foreign pure benzene plant trends, crude oil, the impact of external market trends on the price of pure benzene.

1、 Trend analysis

 
As shown in the figure above, the copper price rose slightly this week. By the end of the week, the spot copper price was 68531.67 yuan / ton, up 4.27% from 65726.67 yuan / ton at the beginning of the week, up 18.25% from the beginning of the year, and up 64.04% from the same period last year. This week, LME copper rose in March, closing at $9245, up 3.54%; at the beginning of this week, Shanghai copper index rebounded after a correction of 65700 yuan, closing at 68540 yuan, up 2.60%. This week, the international copper index closed at 61060 yuan, up 3.12%.

On the macro side, the US dollar index dropped to a three week low, and the sharp decline in US crude oil inventory showed that US demand recovered and accelerated. US retail sales in March recorded the largest growth in 10 months. The good economic data boosted market sentiment. As of Friday, overnight lungcu continued to be strong, with the latest closing quotation of US $9310 / ton, up US $230, or 2.53%. In terms of fundamentals, the second quarter was the peak season of traditional consumption. In the near future, the marginal demand improved, copper concentrate continued to be tight, and macro optimism supported the price rise. LME copper inventory also declined. It is expected that the copper price will still fluctuate strongly in the short term.