The international crude oil price fell. Although the domestic refined oil price adjustment ushered in an upward trend, the demand for gasoline market was not favorable, and the price of MTBE market fell steadily. The price of MTBE on October 23 was 2330 yuan / ton, down 1.67% from the price at the beginning of the week, according to business agency data.

Cushing’s crude oil inventory in the United States increased by 975000 barrels, and the international crude oil price fell due to the poor demand in the international crude oil market. The domestic weather and temperature has dropped, and there are no holidays in the near future. The domestic gasoline market demand returns to the rigid demand, which is lack of positive boost. The price of gasoline is on the low side, and the manufacturers are in a strong bearish mood on the MTBE market. The MTBE manufacturers exchange the quantity with the price to ensure the shipment. The start-up of atmospheric and vacuum distillation units in domestic refineries has declined, and the demand for intermediate materials such as MTBE has decreased. On the whole, the demand for MTBE is not good, and the price of MTBE manufacturers is stable, which guarantees the shipment.

Analysts of MTBE products of energy branch of business agency believe that: the demand of international crude oil market is weak, the prices of international crude oil and gasoline market will still fall under pressure, and refineries are not active in replenishing MTBE and other intermediate materials. Domestic MTBE prices are expected to fall in the short term.

1、 Price trend chart of nitric acid Market

Nitric acid price curve

(photo source: Commodity analysis system of Business Club)

According to the monitoring of the business agency, the average price of nitric acid in East China this week was 1566 yuan / ton at the beginning of the week and 1583 yuan / ton at the weekend, with the quotation rising by 1.06%.

2、 Market analysis

Anhui Jinhe quoted 1550-1600 yuan / ton, which was flat compared with last week; Shandong helitai Chemical Co., Ltd. offered 1800 yuan / T, 50 yuan / T higher than last time; Jiangsu Hongze Yinzhu Chemical Co., Ltd. quoted 1400 yuan / T of concentrated nitric acid, which was 100 yuan / ton higher than last week; Wenshui synthetic chemical products Co., Ltd. offered 1650 yuan / ton concentrated nitric acid, which was 100 yuan / ton higher than last week For Industrial Co., Ltd., the price of concentrated nitric acid was 1530 yuan / ton, and that of dilute nitric acid was 680 yuan / ton. The price of concentrated nitric acid was the same as that of last week. The market of nitric acid was in good condition, and some manufacturers raised their prices.

According to the monitoring of the business agency, the upstream product liquid ammonia was temporarily stable this week, while the downstream aniline was up 1.52% this week.

3、 Future forecast

Nitric acid market demand increases, nitric acid analysts predict that the price or upward.

This week, the price of ethylene oxide was adjusted horizontally, and the factory price of mainstream East China was 7200 yuan / ton.

Northeast Asia ethylene market weak consolidation, as of yesterday (22nd) CFR Northeast Asia closed at 810.00 USD / T, cost support is weak. Downstream monomer market downturn, inventory accumulation and demand prospects are not optimistic, the bearish atmosphere may continue, which has a certain inhibitory effect on the price rise of ethylene oxide. However, due to the tight supply of ethylene oxide, it is still difficult to obtain one commodity. Under the long short game, the possibility of price fluctuation is extremely low. At present, the maintenance of Maoming Petrochemical is delayed, and Sinopec, srbon and Wuhan Petrochemical are in shutdown.

The overall stability is maintained. Market participants pointed out that Jilin Petrochemical plans to raise 50 yuan / ton tomorrow.

Price trend: the focus of domestic acetone market is downward this week. According to the monitoring data of the business agency, the mainstream factories in East China made an offer of 7400-7600 yuan / ton last weekend. So far, the mainstream factories have offered 6700-6800 yuan / ton. In terms of the market, the average offer of acetone market in China was 7525 yuan / ton on October 16, and 6837 yuan / ton on October 22, an overall decline of 9.14%. However, the overall offer in East China fell to 6500 yuan / ton.

Up to now, the main offers of acetone in the national mainstream market are 6500-6600 yuan / ton in East China, 6800-6850 yuan / ton in surrounding areas of Yanshan and Shandong, and 7000 yuan / ton in South China. Most of the factories implement 6700-6800 yuan / ton, of which the price of acetone of Sinopec in North China is 7100 yuan / ton. As of the time of publication, the price plan of Sinopec in North China will be lowered, which is still under approval.

Analysis and comment: from the product itself, as a weathervane of the national market, the market focus in East China has dropped significantly this week, and the negotiated price once fell to 6500 yuan / ton. At present, the trading atmosphere in the market is not enough, and the mentality of the cargo holders is not stable. However, under the pressure of cost, the price continues to fall, and there are many profitable sources of goods to ship actively, which makes the market more prosperous The main reason for the decline of market price is that the purchasing power is insufficient and the quantity of real offer is limited.

From the perspective of the industrial chain, the upstream raw material pure benzene market went up obviously, and the price of pure benzene was also constantly rising under the influence of the sharp rise of styrene. According to the monitoring of the business agency, Qilu Petrochemical offered 3500 yuan / T; In East China, Yangzi Petrochemical quoted 3500 yuan / ton; in South China, Hainan Refining & Chemical Co., Ltd. quoted 3500 yuan / T; Central China: Wuhan ethylene company offered 3500 yuan / T; others: Dongming Petrochemical quoted 3650 yuan / T; HSBC Petrochemical quoted 3550 yuan / T; Jincheng Petrochemical quoted 3530 yuan / T. In terms of propylene, the inventory of propylene manufacturers is increasing, and the crude oil price is relatively stable. In the past few days, the price of propylene has declined slightly in some high-level enterprises in these two days. Most enterprises have stabilized, and the downstream operating rate and profit margin are fair. Therefore, it is expected that the propylene price will continue to stabilize in the near future.

In terms of the downstream market, the bisphenol a market is still confused. In East China, it is still dominated by competitive price, with reference to 12600-12700 yuan / ton. In terms of factories, the price adjustment has been implemented for 13000 yuan / ton in succession this month. Traders have a heavy wait-and-see mood, and low-cost goods rarely appear in the market. Recently, the bisphenol a market is still running strongly.

Market forecast: after the rapid decline of domestic acetone market, the market slightly eased. The Jiangsu market stopped falling and rose again in the morning. After the price fell sharply, the large holders of acetone were forced to hold back the price under the pressure of cost. However, the willingness of terminal inventory is not strong, and the current terminal procurement is insufficient. It is expected that the short-term acetone market will be weak and stable.

Trade name: ammonium chloride

Latest price (October 21): 625.00 yuan / ton

Key points of analysis: the market of ammonium chloride is stable. According to the monitoring of business agency, the price of dry ammonium chloride in China was 625.00 yuan / ton on the 21st, which was the same as the price of the previous day. The start-up of the factory continues to maintain a high level, and the inventory of ammonium chloride is still under pressure. According to the business agency, the overall operating rate of the combined soda is over 70%, and the overall demand is still weak. According to the business agency, the overall industry operating rate of downstream compound fertilizer enterprises is less than 50%. The ex factory price of ammonium chloride is basically stable. According to the monitoring of the business agency, the 600000 T / a ammonium chloride plant of China Salt Kunshan will operate normally on October 21, 2020, with the ex factory price of 610 yuan / ton and the factory price of wet ammonium 540 yuan / ton.

After market forecast, although the demand is off-season, the supply side for maintenance of some units may be eased in the later stage. In addition, the reserve demand in the later stage will make the market of ammonium chloride rise steadily and slightly in the short term.