1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyishe, the market price of isopropanol first rose and then fell in December, and overall, the market price of isopropanol fell. On December 1st, the average price of isopropanol in China was 8100 yuan/ton, while on December 27th, the average price was 7890 yuan/ton. The price dropped by 2.59% during the month.

In December, the market price of isopropanol first rose and then fell, and overall, the market price of isopropanol fell. In the first ten days, the market for isopropanol was good, and downstream enterprises inquired more, so procurement was relatively cautious. Overall, the market trading is acceptable, and the manufacturer’s quotation is relatively firm and upward. In the middle of the month, the market situation was light and trading sentiment was average, while the isopropanol market fluctuated and fell. In the latter half of the year, the market price of isopropanol fell, and the overall trading sentiment in the market was poor. Downstream procurement is cautious, with on-demand orders being the main focus. Many businesses maintain a wait-and-see attitude, with few inquiries and slow shipments. As of now, the majority of isopropanol market quotations in Shandong region are around 7500-7800 yuan/ton; The majority of isopropanol prices in the Jiangsu and Zhejiang regions are around 7900-8200 yuan/ton.

In terms of raw material acetone, overall in December, the domestic acetone market prices fell. On December 1st, the average price of acetone was 7062.5 yuan/ton, and on December 27th, the average price was 6990 yuan/ton. The price for the month decreased by 1.03%. At present, the overall purchasing power of the downstream is limited, and the market focus is downward. It is expected that the domestic acetone market will be weak in the short term.

In terms of propylene, according to the commodity market analysis system of Business Society, the domestic propylene (Shandong) market fluctuated and fell in December. At the beginning of December, the market average was 7105.75 yuan/ton, with an average price of 6965.75 yuan/ton on December 27th, a monthly decrease of 1.97%. Currently, due to the influence of downstream polypropylene, market demand is weak and prices have slightly decreased. The propylene analyst from the Chemical Branch of Shengyishe believes that in the short term, there is an increasing trend in propylene supply, and the demand side is stable first. We closely monitor changes in the news side and anticipate a possible decline in the propylene market in the future.

3、 Future Market Forecast

An isopropanol analyst from the Chemical Branch of Shengyishe believes that the overall decline in raw material acetone in December is mainly due to the fluctuation of propylene, and cost support is slightly weak. As the end of the month approaches, downstream and traders remain cautious, resulting in poor market transactions. It is expected that the isopropanol market will operate weakly in the short term.

According to the Commodity Market Analysis System of Business Society, the spot market price of gold on December 26, 2023 was 480.64 yuan/gram, an increase of 1.30% compared to the spot market price of gold at the beginning of this month (December 1), which was 474.48 yuan/gram.

According to the Commodity Market Analysis System of Business Society, the average price of silver in the market on December 25, 2023 was 6060 yuan/kg, a decrease of 1.83% compared to the average price of 6173 yuan/kg in the silver market at the beginning of this month (December 1).

From November 2022 to early February 2023, precious metal prices significantly increased. From March to the end of April, due to the impact of the US banking crisis, precious metal prices once again entered a period of skyrocketing. Silver prices began to fall in May, while gold remained relatively strong. In June, gold prices hit a high level and silver prices began to rise. After July, gold prices became stronger. In mid to late September, precious metal prices were affected by news from the Federal Reserve, leading to a high level correction. In October, due to geopolitical factors, the risk aversion sentiment rose and continued to rise. In early November, the high range was weak and fluctuated horizontally. At the end of the month, precious metal prices resumed, and silver saw a stronger monthly increase than gold. Silver prices slightly declined in December, while gold prices remained relatively strong

At present, the price of precious metals has been fluctuating in the high range after reaching a new decade high in the early stage. Under the high inflation and high interest rate hikes we anticipated earlier, the pace of overseas economic recession may lead to a relatively strong sense of risk aversion, which is currently reflected in prices. Some central banks around the world have increased their holdings of gold reserves, which has also provided some support for gold prices. It is reported that in the third quarter of 2023, central banks and other institutions of various countries increased their holdings of gold by 337.1 tons, an increase of 93% compared to the previous quarter.

The recent release of US GDP and inflation data in the third quarter has strengthened the possibility of aggressive interest rate cuts when the cooling level is deeper than expected. The Federal Reserve’s expectation of interest rate cuts in 2024 has increased, which is beneficial for precious metal prices. In the short term, it is expected that precious metals will operate stronger.

Cobalt prices have fluctuated and risen this week

According to the cobalt market analysis system of Business Society, as of December 25th, the cobalt price was 217300 yuan/ton, an increase of 1.31% compared to December 18th, when the cobalt price was 214500 yuan/ton. The non-ferrous sector has seen a simultaneous rise in prices, with international cobalt prices stopping their decline and rising. This week, cobalt prices have fluctuated and risen.

The market for the non-ferrous sector is on the rise

According to the commodity market analysis system of Business Society, the basic non-ferrous index fluctuated and rose in December, with a rebound in macroeconomic conditions and a rebound in metal prices, which is beneficial for the cobalt metal market.

International cobalt prices stop falling and rise

According to the trend chart of MB cobalt price, it can be seen that the price of MB cobalt fluctuated and fell in December. However, over the weekend, the price of MB cobalt stopped falling and rebounded slightly, while the international cobalt price stopped falling and rebounded. The international cobalt market has shown a trend of recovery, which is beneficial for the domestic cobalt market.

Overview and Outlook

According to Bai Jiaxin, a data analyst at Business Society, the non-ferrous sector is generally on the rise, macroeconomic conditions are favorable, and the international cobalt market is recovering, which is beneficial for the domestic cobalt market. Expected cobalt prices to fluctuate and consolidate in the future.

According to the commodity market analysis system of Business Society, the benchmark price of titanium tetrachloride was 10825.00 yuan/ton on December 22nd. At present, the market price of bottled titanium tetrachloride in China is around 10000-12800 yuan/ton.

The high titanium slag raw material market is stable, with low operating rates and some manufacturers stopping production for maintenance, resulting in a decline in market supply.

Downstream demand has weakened, and the price of titanium tetrachloride continues to operate weakly and steadily. However, due to the weak domestic gold red market and a slight decline in prices, some titanium tetrachloride manufacturers may increase their purchasing demand.

It is predicted that the titanium tetrachloride market will continue to operate weakly and steadily.

Product name: Neopentanediol

Latest price (December 21st): 9775.00 yuan/ton

On December 21st, the domestic market price of new pentanediol slightly increased, with a price increase of 250 yuan/ton compared to December 20th, an increase of 2.62%, and a year-on-year increase of 6.64%. The market situation for raw material isobutyraldehyde has recently seen a slight increase, with increased cost support. The downstream polyester resin market is average, and downstream customers have average enthusiasm for purchasing neopentyl glycol.

It is expected that the domestic market price of new pentanediol will fluctuate slightly in the future. The average market price is around 9900 yuan/ton.