As of May 23, the average 180CST price of domestic fuel oil was 4687.50 yuan / ton (including tax), up 0.81% from 4600.00 yuan / ton on May 17, according to the data of business news agency.

On May 23, the fuel oil commodity index was 94.94, unchanged from yesterday, down 18.09% from 115.91 (October 17, 2018), the highest point in the cycle, and up 106.03% from 46.08, the lowest point on August 15, 2016（ Note: period refers to the period from September 1, 2011 to now

The decline of domestic marine oil raw materials has limited support for fuel oil 180CST. According to the business news agency, as of May 23, the 180 CST self provided low sulfur price of fuel oil in Zhoushan was 4650 yuan / ton, and the 120 CST self provided low sulfur price of fuel oil was 4750 yuan / ton; The price of 180 CST self provided low sulfur fuel oil in Shanghai is 4700 yuan / ton, and that of 120 CST self provided low sulfur fuel oil is 4800 yuan / ton.

The sharp drop in international oil prices is mainly due to the market’s concern that the surge of new cases in Asia will further depress the demand for crude oil, as well as the expectation that the new progress of the US Iran nuclear agreement will release increased supply; In addition, the probability of US inflation causing the Federal Reserve to raise interest rates increases.

Singapore’s fuel oil inventory decreased, supporting the price of fuel oil. It is understood that Singapore’s enterprise development board (ESG): in the week ending May 19, Singapore’s fuel oil inventory decreased by 1.416 million barrels, to a three week high of 24.96 million barrels.

Future forecast: business community energy analysts believe that the recent price rise of fuel oil 180CST is mainly affected by the addition of consumption tax on some refined oil products, but the market transaction is light, the terminal shipping demand is weak, the downstream purchasing enthusiasm is not high, and the demand for fuel oil 180CST is mainly on demand. Business enthusiasm for raw material procurement is not high, market turnover is low, and fuel oil 180CST market is expected to be stable in the near future.

According to statistics, the domestic ammonium nitrate price rose this week. By the end of the week, the domestic ammonium nitrate market price was 3260 yuan / ton, 0.62% higher than the price of 3240 yuan / ton at the beginning of the week, 39.91% higher than the same period last year. On May 20, the ammonium nitrate commodity index was 171.58, up 1.05 points from yesterday, reaching a record high in the cycle, up 121.77% from the lowest point of 77.37 on October 31, 2016（ Note: period refers to the period from February 1, 2013 to now).

This week, the domestic market price of ammonium nitrate reached a historical high. The start-up of domestic ammonium nitrate plants was generally normal, and the supply of ammonium nitrate in the plant was normal. Some manufacturers reported that the price of upstream raw materials rose, and the factory price reached a record high. Recently, the supply of goods in the plant was tight, and the transportation was normal, so the market price of ammonium nitrate rose. Recently, the shipment market of ammonium nitrate manufacturers is normal, and the downstream is purchased on demand. The domestic ammonium nitrate manufacturers start to work normally, and the price trend of some manufacturers increases greatly. Up to now, the mainstream negotiation in Shaanxi is 3000-3200 yuan / ton, the mainstream negotiation in Shandong is 2500-2800 yuan / ton, and the price in Hebei is 3800-4000 yuan / ton.

This week, the domestic price of concentrated nitric acid was temporarily stable, with the weekend price of 2250 yuan / ton, which was the same as the price of 2250 yuan / ton at the beginning of the week. Jiangsu Hongze Yinzhu chemical quoted 2200 yuan / ton; Anhui Jinhe quoted 2200 yuan / ton; Shandong helitai quoted 2400 yuan / ton. Shaanxi Xinghua quoted 2150 yuan / ton. In recent years, the domestic maintenance units have been running normally, the supply of concentrated nitric acid is normal, the delivery of goods in the yard is general, the price trend of nitric acid in the yard is stable, and the price trend of ammonium nitrate in the market is rising.

The price trend of upstream liquid ammonia rose this week, with 3900 yuan / ton at the weekend, up 1.91% from 3846.67 yuan / ton at the beginning of the week. The start-up of liquid ammonia plant in the yard was normal, the spot supply in the yard was normal, and the price trend of liquid ammonia market rose. In terms of fundamentals, the price of liquid ammonia rose in Shandong. Due to the decline of inventory pressure, the operating rate of manufacturers remained at a reasonable level, and there was a certain price difference with other regions in China, the price of liquid ammonia decreased slightly. The ammonia quantity in Shandong Province is basically in the balance of supply and demand, which still has some support for the price. In the lower reaches, the agricultural fertilizer use has increased, the demand in the lower reaches is general, and the market price trend of ammonium nitrate remains high.

In the near future, the demand of downstream civil explosive industry is normal, and the production and marketing of nitro compound fertilizer is normal, and the price trend of raw material market rises slightly. However, the spot supply of ammonium nitrate in the market is general, and the cost rise has a certain positive effect. The ammonium nitrate analysts of business community believe that the market price of ammonium nitrate may maintain a high and stable level in the future.

According to the data of the business club’s block list, as of May 21, the average quotation price of propylene oxide enterprises was 18133.33 yuan / ton, down 2.51% compared with the price at the beginning of the week, down 0.55% compared with April 21, and up 94.29% compared with the same period last year.

This week, the propylene oxide market fell first and then stabilized. At the beginning of the week, the propylene oxide market was weak, and the purchasing attitude of the middle and lower reaches was cautious. With the sharp reduction of the price, the downstream inquiry enthusiasm increased, and the market delivery improved. With the relief of the inventory pressure of the representative factory, the price stopped falling and became stable. At present, the purchasing enthusiasm of the downstream is general, but there is no big pressure on the factory inventory. The supply and demand game, and the market is temporarily stable, On the 21st, the mainstream price of propylene oxide Market in Shandong was around 17800-17900 yuan / ton, and that in East China was around 18000-18200 yuan / ton.

Upstream propylene, as of May 20, Shandong propylene market prices down again. According to the price chart of the business association, the propylene price in Shandong continued to rise in the first ten days of April, fell sharply in the last ten days, and remained stable at the end of the month. During the May Day period, the first two days continued to be stable. From the 3rd to the 7th, the daily price went up by about 50 yuan / ton. From the 9th, the price was mainly stable. After a small rise on the 13th, the price stabilized again. From the 17th, the daily price began to go down by 50 yuan / ton. From the 19th to the 20th, the daily price fell by about 100 yuan / ton. Now, the market transaction is between 8050 yuan / ton and 8300 yuan / ton, and the mainstream price is about 8050 yuan / ton.

The downstream propylene glycol, according to the monitoring data of the business community, as of May 21, the reference ex factory price of domestic industrial grade propylene glycol was 17200 yuan / ton, compared with the reference price of 18066 yuan / ton on May 14, the average price decreased by 866 yuan / ton, down 4.61% on the seventh day; As for downstream soft foam polyether, as of May 21, the market range of soft foam polyether in Shandong was sorted out, the price of raw material propylene oxide was temporarily stable, the downstream inquiry enthusiasm declined, and the market was mainly cautious and wait-and-see. At present, the mainstream quotation of common soft foam polyether in Shandong is around 17950-18100 yuan / ton.

Business community propylene oxide analysts believe that at present, propylene raw material operation is weak, cost support is weakened, market supply and demand game, industry mentality is cautious, it is expected that in the short term, propylene oxide market may be deadlocked finishing operation, more specific trends still need to pay attention to market information guidance.

According to the data of the business club’s block list, as of May 20, the average quotation price of formic acid enterprises was 2733.33 yuan / ton, up 9.33% compared with last Thursday (May 13), up 10.81% compared with April 20, and up 35.54% compared with the same period last year.

Since May, formic acid market has been rising steadily, and the market price has risen again this week. On the supply side, Shandong ASDE Technology Co., Ltd. recently started the operation of 200000 tons of plant, and Nanjing BASF’s start-up load was maintained at about 90%. Rising costs combined with export demand are the main driving factors for the strong market this week.

According to the data monitoring of the business agency, the price of formic acid of some enterprises is summarized (for reference only, the spot price of the merchants is in line with the market, and the actual transaction price of different brands, different specifications and products is mainly negotiated.)

On May 19, the market of upstream caustic soda in Shandong continued to be weak and stable. Now the mainstream ex factory price of 32% caustic soda is 400-490 yuan / ton. The company’s shipment is tepid, the downstream receiving situation is light and stable, and the wait-and-see atmosphere is strong. It is expected that caustic soda will continue to operate with small fluctuation in the future; On May 20, the market of liquid ammonia in Shandong continued to rise; Upstream sulfuric acid, May 20, Shandong sulfuric acid market temporarily stable; The reference price of upstream methanol was 2725.00 on May 19, up 6.45% compared with 2560.00 on May 1.

Business analysts believe that overall, the current cost side has a certain support, and the demand side performance is fair. It is expected that the formic acid market will mainly run at a high level in the short term, and more attention should be paid to the change of raw material prices.

1、 Price trend

According to the business news agency’s block data list, the average price of domestic hips on May 19 was 13933.33 yuan / ton, down 0.48% from the previous day, up 7.79% from the beginning of the month, and up 9.77% from April 1.

2、 Market analysis

On May 19, the styrene market as a whole weakened slightly, driving the price trend of hips market. However, the price fluctuation was not big. The traders gave up profits to ship, the center of gravity moved down, and there was some pressure on sales. At present, the cost support is still in the market, but the demand side is not so good. Most of the downstream companies just need to purchase, and start from bargain hunting. The market transaction atmosphere is not good, and the short-term market is glued to the whole. Up to now, the mainstream price of hips is about 13650-14100 yuan / ton, Guangzhou Petrochemical 660 reference price is 14000 yuan / ton, Zhanjiang Zhongmei 990 reference price is 13700 yuan / ton, Shanghai Secco 622 reference price is 14100 yuan / ton, CITIC Guoan 688 reference price is 13650 yuan / ton, the overall market is stable.

In the international crude oil market, on May 18, the international oil price closed down. The settlement price of the main contract in the US WTI crude oil futures market was US $65.49/barrel, down by US $0.78 or 1.2%. The settlement price of the main contract in Brent crude oil futures market was at US $68.71/barrel, down US $0.75 or 1.1%. On Tuesday, media reported that the United States and Iran had made progress in restarting the Iran nuclear agreement, and the expected increase in supply made the oil price fall.

In terms of raw materials, on May 19, the styrene market as a whole declined slightly. Crude oil fell, while benzene and ethylene fell. Night market styrene weakness falls, has the suppression to the day opening. Although the supply of domestic styrene has increased, the inventory of the spot terminal is low, and the spot supply is tight. In the downstream, the three downstream prices are temporarily stable, and the demand is still low. However, the profit of the factory turns better, the demand for purchasing just needs increases, and the market is short of gas. To sum up, the cost of styrene is well supported. In the short term, the terminal will continue to go to the warehouse, and the inventory will remain low. The volume of tradable trade will be small, and the downstream demand will be temporarily stable. It is expected that the styrene market will still be in the shock consolidation stage after the rapid rise and fall in the short term.

3、 Future forecast

The business community believes that the current weakness of raw materials, coupled with the limited ability to receive goods downstream, and the lack of high price transaction, the hips market has declined slightly, but the cost support is still in place. Therefore, it is not easy for hips to fall deeply. The short-term market is stuck, and the price may decline steadily.