On April 16, the phthalic anhydride commodity index was 63.91, unchanged from yesterday, down 46.80% from the peak of 120.13 points in the cycle (2012-02-28), and up 31.99% from the low of 48.42 points on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

Recently, the domestic market price of phthalic anhydride has maintained a low trend, the market of phthalic anhydride and phthalic anhydride in eastern China has weakened, downstream factories have just needed to purchase, factory inventory pressure has continued, high-end transactions have been blocked, the mainstream of on-site neighbouring source negotiations is 6500-6600 yuan/ton, and the mainstream of naphthalene source negotiations is 6300 yuan/ton; the mainstream quotation of phthalic anhydride market in North China is 6400-6600 yuan/ton, and the market weak The price of phthalic anhydride in China is stable, the spot supply of phthalic anhydride is normal, the market is not good, and the price of phthalic anhydride is declining.

Recently, the executive price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6700 yuan/ton. The actual transaction price in the market is 6700 yuan/ton. The quotation is stable and the port market is general. The upstream raw material mixed xylene price is stable, the turnover of phthalic anhydride is general, the stock of phthalic anhydride in port is low, the price of phthalic anhydride is temporarily stable, the cost of imported phthalic anhydride is rising, the actual transaction price is discussed in detail, the upstream price trend is stable, and the market price of phthalic anhydride remains weak. DOP prices in the downstream are lower. Recently, in the DOP market in Zhejiang, merchants’quotations have maintained 8200-8300 yuan/ton, while downstream prices have slightly declined. Demand for upstream phthalic anhydride is limited, and the market price of phthalic anhydride is slightly lower. It is expected that the market price of phthalic anhydride in the later period will be around 6550 yuan/ton.

On April 15, the ammonium nitrate commodity index was 107.02, which was the same as yesterday. It was 9.63% lower than the cyclical peak of 118.42 points (2019-01-15), and 38.32% higher than the lowest point of 77.37 on October 31, 2016. (Note: Period refers to 2013-02-01 to date)

Recently, the price trend of domestic ammonium nitrate Market has maintained a low level. Affected by environmental protection control, domestic ammonium nitrate plants shut down more, and domestic ammonium nitrate plants started less. However, with the warming of the weather recently, the influence of northern air limitation disappeared. In addition, due to the complete shutdown of domestic downstream civil explosion industry, domestic ammonium nitrate manufacturers have more stockpiles and the price trend in the field has declined. As of the 16th, domestic ammonium nitrate market price negotiations in 1900-2100 yuan/ton, affected by environmental protection, so now many manufacturers in many areas are forced to limit production or stop production and maintenance to accept environmental protection inspection, the price trend of ammonium nitrate on the site is weak.

Recently, the domestic nitric acid price trend is temporarily stable, up to 16 days, the market price is 1560 yuan/ton. The stable trend of nitric acid price has little effect on the ammonium nitrate market, and the price trend of ammonium nitrate has slightly declined. The price trend of upstream raw material liquid ammonia has risen slightly, up to 16 days, the market price of liquid ammonia is 3494 yuan/ton. The rising trend of upstream raw material price has brought certain support to the ammonium nitrate market. Ammonium market price trend is temporarily stable. At the end of the peak season of the downstream civil explosion industry recently, the demand for ammonium nitrate has weakened and the stocks of ammonium nitrate manufacturers have increased, but the liquid ammonia market is on the rise again. The ammonium nitrate Market has slightly declined due to the bad market. Ammonium nitrate analysts believe that the recent upstream raw material market price shocks, but the downstream demand is not good, ammonium nitrate market prices are expected to maintain shocks in the later period.

Price trends:

2. Market analysis:

Domestic market: This week, the market price of hydrobenzene rose. As of April 12, Shandong mainstream quotation ranged from 4150 to 4250 yuan/ton; East China mainstream quotation ranged from 4350 to 4450 yuan/ton. Hydrobenzene is depressed by the rising price of crude benzene, the cost pressure increases, the pressure of shipment of hydrobenzene enterprises increases, and the turnover is limited.

Industry chain: pure benzene aspect this week’s oil benzene market as a whole horizontal consolidation. In the domestic market, inventory declines slowly, and some reservoirs are still full of tanks. Since Wednesday, domestic pure benzene prices have been rising, Sinopec Group’s pure benzene price has been raised by about 100 yuan/ton, Sinopec Group’s pure benzene price has been raised by about 150 yuan/ton, and Korea’s pure benzene reference price has risen by about 10 dollars/ton, and the import reference price in East China has been basically stable. Crude Benzene: Domestic crude benzol market prices rose this week, with mainstream quotations ranging from 3200 to 3600 yuan/ton, up about 300 yuan/ton. As of Friday, the ex-factory price of crude benzene in Shandong was around 3500 yuan/ton. Negotiations are general and deals are limited. In terms of market, Shandong Province has 3500-3520 yuan/ton and Shanxi Province 3250-3380 yuan/ton.

3. Trend forecast:

In recent days, the downstream demand has not improved significantly. The short-term forecast of hydrobenzene market is mainly small consolidation.

I. Trend of spot copper price

As shown in the chart above, domestic copper prices rose first and then fell this week. At the beginning of the week, the average domestic spot copper price was 49,335 yuan/ton, while at the end of the week it was 49,071.67 yuan/ton, down 0.53%, down 3.38% year-on-year.

II. Copper Current Statement

As shown in the figure above, this week’s main contract price of copper is similar to the spot price trend, both rising first and then falling, but the main contract price is higher than the spot price, indicating that people expect copper prices to be good in the next two months.

II. Market Analysis

Supply: Codelco, the top copper producer, produced 11500 tons of copper in February, the lowest monthly output since January 2016, down 9.5% annually and 19.3% year-on-year. Among them, due to heavy rains in mines such as Chuquicamata and Radomiro Tomic, production in the North dropped to 50,500 tons. But the largest El Teniente copper mine in Codelco produced 34,600 tons in February, an increase of 4.8% annually. More supply disruptions occurred in the copper industry than in 2018, which may lead to insufficient supply in the market.

Demand: According to CAAC data, the decline in passenger car production and sales in March has narrowed considerably, but it is still not optimistic, which may be a drag on the overall consumption of non-ferrous metals. Entering the second quarter, the peak season is approaching stronger demand, and the decline in copper stocks in the last two weeks seems to indicate the arrival of the peak season.

Inventory: Copper stocks in Lun fell mainly this week, with a cumulative decrease of 5 875 tonnes to 19 425 tonnes, a cumulative decrease of 2.96%.

Macroscopic: The IMF lowered global economic expectations, and the ECB stressed Wednesday that global economic growth was threatened, including Britain’s exit from Europe; the US threatened to impose tariffs on 11 billion US dollars of EU products; Europe threatened retaliation; the U.S. tariff war was on the horizon; trade tensions between the U.S. and the U.S. triggered demand concerns; and pressure on copper prices.

3. Prospects for the Future Market

In summary, copper analysts from the Nonferrous Branch of Business Association believe that copper prices are good in the anticipation of reduced supply and start-up of consumption, but still pressured by the global economic drag, copper prices will rise sharply, and copper prices are expected to remain high volatility in the short term.

On April 9, the phthalic anhydride commodity index was 64.88, unchanged from yesterday, down 45.99% from the cyclical peak of 120.13 points (2012-02-28), and up 33.99% from the lowest point of 48.42 on January 21, 2016. (Note: Period refers to 2011-09-01 to date).

Recently, the domestic market price of phthalic anhydride is weaker, the market of phthalic anhydride and phthalic anhydride in eastern China is weaker, downstream factories are in need of purchasing, factory inventory pressure is continuing, high-end transactions are blocked, the mainstream of on-site neighbouring source negotiation is 6500-6700 yuan/ton, the mainstream of naphthalene source negotiation is 6400 yuan/ton; the mainstream quotation of phthalic anhydride market in North China is 6500-6700 yuan/ton, and the market weakness The price of phthalic anhydride in China is stable, the spot supply of phthalic anhydride is normal, the market is not good, and the price of phthalic anhydride is declining.

Recently, the executive price of the upstream product of phthalic anhydride, Sinopec o-phthalic anhydride, is 6700 yuan/ton. The actual transaction price in the market is 6700 yuan/ton. The quotation is stable and the port market is general. The upstream raw material mixed xylene price is stable, the turnover of phthalic anhydride is general, the stock of phthalic anhydride in port is low, the price of phthalic anhydride is temporarily stable, the cost of imported phthalic anhydride is rising, the actual transaction price is discussed in detail, the upstream price trend is stable, and the market price of phthalic anhydride remains weak. DOP prices in the downstream are lower. Recently, in the DOP market in Zhejiang, the quotation of merchants has dropped to 8300-8400 yuan/ton, and the downstream price has slightly decreased. The demand for phthalic anhydride in the upstream is limited. The market price of phthalic anhydride has slightly decreased. It is expected that the market price of phthalic anhydride in the later period will be around 6600 yuan/ton.