Zinc prices fluctuate and consolidate this week

 
According to the Commodity Market Analysis System of the Business Society, as of November 13th, the zinc price was 21506 yuan/ton, a decrease of 0.07% compared to the zinc price of 21520 yuan/ton on November 3rd last weekend. The PMI data for October in Europe has rebounded, but it is still in a contraction range, with poor macro data. Zinc prices have fluctuated and consolidated this week.

Contraction range at PMI in Europe in October

The final comprehensive PMI of the Eurozone in October was 46.5, expected to be 46.5, and the previous value was 46.5. The initial PMI of France’s manufacturing industry in October was 42.6, with an expected 44.4; The final comprehensive PMI for France in October was 44.6, with an expected 45.3, compared to the previous value of 45.3. Spain’s comprehensive PMI50 for October is expected to be 48.7, with a previous value of 50.1. The UK’s comprehensive PMI for October was 48.7, with a previous value of 48.6. The final comprehensive PMI for Germany in October was 45.9, with an expected 45.8, compared to the previous value of 45.8. The Eurozone’s PMI in October was below 50, France’s PMI was below expectations and below 50, and Spain’s comprehensive PMI was above expectations but still below previous levels; The PMI of the UK and Germany in October was higher than previous values and expectations, while the PMI data for Europe in October rebounded, but the PMI for Europe in October is still in a contraction range. Macro data is poor, with insufficient support for the rise of the zinc market.

Future Market Forecast

According to data analysts from Business Society, zinc prices surged last week due to news of production cuts from overseas mines. However, due to fundamental constraints, European data still contracted, and the sustained rise in zinc prices lacks support. In the future, zinc prices are expected to fluctuate and consolidate.

The epoxy propane market has been operating steadily this week. According to the Commodity Market Analysis System of the Business Society, as of November 10th, the average price of epoxy propane enterprises was 9325.00 yuan/ton, which is unchanged compared to Monday’s price.

Cost side: According to the commodity market analysis system of the Business Society, the recent trend of raw material propylene market is relatively strong. On November 9th, the reference price of propylene was 7353.25, an increase of 4.29% compared to November 1st (7050.75). The price of raw material liquid chlorine increased during the week, and the cost support for the epoxy propane market is strong.

Supply and demand side: Some devices on the supply side fluctuate, and the industry’s capacity utilization rate has decreased compared to the previous period. Downstream wait-and-see just needs to follow up moderately, and the demand side performance is average. The supply and demand side has limited support for the epoxy propane market. On the 10th, the mainstream quotation in the Shandong epoxy propane market was around 9150-9200 yuan/ton.

According to epoxy propane analysts from Business Society, the current price of raw material propylene is high, and the raw material liquid chlorine is relatively strong, with significant cost support. However, factory shipments are average, and downstream companies need to follow up. The market has a strong wait-and-see atmosphere, and it is expected that in the short term, the epoxy propane market may remain stagnant and operate, and more attention should be paid to market news guidance.

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average market price of chlorinated paraffin 52 in China was 5733 yuan/ton on November 3. On November 9, the average market price of chlorinated paraffin 52 in China was 5633 yuan/ton, and the price of chlorinated paraffin 52 fell by 1.74% this week.

2、 Market analysis

The market price of chlorinated paraffin has fallen this week. This week, the price of raw material liquid wax rose first and then fell, while the price of raw material liquid chlorine rose, providing support on the cost side. However, the market demand is weak, and downstream inquiries are relatively few, with a focus on rigid demand. Manufacturers and distributors often adopt a wait-and-see attitude. As of November 9th, the factory price of chlorinated paraffin 52 in Anhui Province is about 5900 yuan/ton, and the national standard market price of chlorinated paraffin 52 in Shandong Province is about 4800-5600 yuan/ton.

In terms of raw material liquid wax, the price of liquid wax rose first and then fell this week, and liquid wax fluctuated with the crude oil market. In terms of raw material liquid chlorine, the price of liquid chlorine has increased this week, and on-site trading is still acceptable, with relatively stable market demand.

3、 Future Market Forecast

Analysts from Business Society’s chlorinated paraffin believe that the recent stable price of chlorinated paraffin has been the main trend, with downstream procurement on demand and relatively light demand. It is expected that the prices of chlorinated paraffins will stabilize and operate in the short term. It is recommended to pay attention to changes in costs and demand.

According to the Commodity Market Analysis System of the Business Society, the asphalt market has experienced a narrow downward trend. From November 1st to 8th, the price of asphalt in Shandong fell from 3806 yuan/ton to 3759 yuan/ton, a decrease of 1.23%, a decrease of 2.42% month on month, and a year-on-year decrease of 11.80%. The asphalt market is slightly flat, with some resource quotations stabilizing and declining, and due to factors such as environmental protection, inspection, and inspection, market demand is relatively average. Some contracts have high enthusiasm for shipment, and enterprise quotations are mostly at a low level.

On the supply side, the main production enterprises have suspended production of asphalt, intermittently suspended production, and driven a decrease in production in the area. The comprehensive operating rate of the asphalt industry has decreased compared to the previous month, with a positive impact on the supply side.

On the cost side, oil prices have fallen to their lowest point in the past three months. The main reason is that the hawkish stance of the Federal Reserve has sparked demand concerns and eased supply tension. As of the close on November 7th, the settlement price of Brent crude oil futures’ main contract was 81.61 yuan/barrel, a decrease of 3.57 US dollars or 4.2%.

On the demand side, the asphalt market mainly focuses on low-end transactions and prioritizes the use of social resources. The demand side of the asphalt market is influenced by bearish factors.

As of the close on November 8th, the petroleum asphalt futures market has declined. The main asphalt contract 2401 opened at 3684 yuan/ton, with a maximum price of 3694 yuan/ton and a minimum price of 3590 yuan/ton. It closed at 3607 yuan/ton in the end, a decrease of 102 yuan/ton compared to the previous trading day, a decrease of 2.75%. The trading volume is 275811 lots, the holding volume is 251452 lots, and the daily increase is -2258.

In the future market forecast, international crude oil is expected to fluctuate and consolidate, with weakened cost support. The market for just demand is slightly flat, and the overall situation is lukewarm, with low end transactions mainly focused on just demand. Business Society asphalt analysts predict that the domestic asphalt market will operate in a weak manner in the short term.

The price of ortho xylene fell in November

According to the Commodity Market Analysis System of the Business Society, as of November 7th, the price of ortho xylene was 8000 yuan/ton, a decrease of 200 yuan/ton or 2.44% compared to the 8200 yuan/ton price of ortho xylene on October 31st. The cost of ortho benzene continues to decrease; Downstream demand remains weak, and the price of ortho xylene fell in November.

Raw material mixed with xylene stopped falling and rebounded

According to the market analysis system of mixed xylene products in the Business Society, as of November 7th, the price of mixed xylene was 7350 yuan/ton, which rebounded from the price of mixed xylene at 7330 yuan/ton as of October 31st last month, with an increase of 0.27%. Crude oil prices fluctuate and consolidate, naphtha prices fluctuate and rise, mixed xylene costs rise, mixed xylene prices stop falling and rise, raw material costs rise, and the upward momentum of orthoxylene increases.

Downstream phthalic anhydride market fluctuates and falls

According to the market analysis system for phthalic anhydride products in the Business Society, as of November 7th, the quotation for neighboring phthalic anhydride was 7612.50 yuan/ton, a decrease of 2.72% compared to the price of 7825 yuan/ton as of October 31st last month. The operating rate of domestic phthalic anhydride remains at 60%, and the supply of phthalic anhydride is sufficient. The price of industrial naphthalene has increased, and the price of naphthalene phthalic anhydride has rebounded. The price difference between ortho phthalic anhydride and nefa phthalic anhydride is approaching, and the market for ortho phthalic anhydride is favorable. The price of phthalic anhydride has stopped falling and stabilized.

Future prospects

Analysts from Business Society’s adjacent xylene data believe that in November, the price of mixed xylene rebounded and the cost of adjacent xylene increased; The price of phthalic anhydride has stabilized, the market for phthalic anhydride has rebounded, and downstream demand for neighboring benzene has stabilized. It is expected that in the future, the price of neighboring benzene will fluctuate and stabilize.