According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid has remained stable this week. As of September 14th, the average market price of acetic acid was 3200 yuan/ton, which is the same as the price of 3200 yuan/ton on September 9th and a 5.19% decrease compared to last week.

This week, the acetic acid market remained stable with small fluctuations, with enterprise quotations mainly stabilizing. On the supply side, there is currently no pressure on the manufacturer’s inventory, and the Tianjin alkali plant is undergoing maintenance, resulting in a reduction in market supply; On the demand side, the operating rate of downstream industries has decreased, and the demand for acetic acid is limited. Purchasing in the market is mostly followed up according to demand. The trading atmosphere in some areas is not good, and the price of acetic acid has decreased. The atmosphere in the market is deadlocked, and the acetic acid market fluctuates slightly.

As of September 14th, the market prices of acetic acid in various regions are as follows:

Region/ September 9th/ On September 14th/ Rise and fall

South China region/ 3100 yuan/ton/ 3100 yuan/ton/ 0

North China region/ 3150 yuan/ton/ 3150 yuan/ton/ 0

Shandong region/ 3100 yuan/ton/ 3100 yuan/ton/ 0

Jiangsu region/ 2915 yuan/ton/ 2875 yuan/ton/ -40

Zhejiang region/ 3015 yuan/ton/ 2975 yuan/ton/ -40

The upstream raw material methanol market first fell and then rose. As of September 14th, the average price in the domestic market was 2401.67 yuan/ton, an overall increase of 0.91% compared to the price of 2380.00 yuan/ton on September 9th. The increase in domestic methanol production and supply, the month on month increase in unloading of foreign ships, the overall supply has increased, and the price at the beginning of the week has continued to decline; Afterwards, favorable demand was released, port pick-up volume increased, port inventory stopped accumulating and rebounded, and methanol prices stopped falling; But with the holiday approaching, downstream stocking is cautious, and methanol prices will be lowered in the later stage.

The downstream acetic anhydride market is running smoothly. On September 14th, the average ex factory price of acetic anhydride was 5472.50 yuan/ton, which is the same as the price of 5472.50 yuan/ton on September 9th. The upstream acetic acid market is stabilizing and running, with limited cost support for acetic anhydride. Downstream acetic anhydride entering the market is following up as needed, and the market trading atmosphere is still good. Acetic anhydride prices remained stable during the week.

Market forecast: The acetic acid analyst from Shengyi Society believes that there is an expectation for the recovery of acetic acid maintenance equipment on the supply side, and the market supply of goods will increase. Although there is currently no pressure on manufacturers’ inventory, downstream and traders’ demand support is insufficient, and there is a clear trend of oversupply in the market. The market transaction center is relatively low, and it is expected that the acetic acid market will be weakly consolidated in the short term. The market will pay attention to downstream follow-up in the future.

1、 Price trend

According to data monitored by Shengyi Society, as of September 12th, the average quotation price of domestic high-quality DMF enterprises was 4080 yuan/ton. This week, the DMF market price remained stable, with prices remaining stable compared to the same period last week. Currently, the overall market center of gravity is running low and inventory is running high. The mainstream market price is around 4000 yuan/ton, and downstream markets are not actively stocking up, with rigid procurement being the main focus.

2、 Market analysis

The overall market price of DMF is stable with a weak focus on transportation, with prices maintained at around 4000 yuan per ton. Currently, downstream demand is poor, and essential purchases are the main focus. The mainstream price range is 4000 yuan per ton, and manufacturers are offering discounts and taking orders with a cautious wait-and-see attitude. Downstream essential purchases are the main focus. Currently, DMF cost support is insufficient, and inventory is running at a high level.

3、 Future forecast

DMF analysts from Shengyi Society believe that DMF is expected to maintain its current trend in the short term, with stable prices and weak operations as the main trend. The mainstream price is around 4000 yuan/ton.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of September 10th, the reference average price of 85% industrial grade phosphoric acid in China was 6770 yuan/ton, which is 1.96% higher than the reference average price of 6640 yuan/ton on September 1st.

According to the Commodity Market Analysis System of Shengyi Society, as of September 10th, the reference average price of 85% wet process phosphoric acid in China was 6983 yuan/ton, which is 1.95% higher than the reference average price of 6850 yuan/ton on September 1st.

2、 Market analysis

The domestic phosphoric acid market rose in early September. As of September 10th, the delivery price of 85% industrial phosphoric acid in Hubei region is around 6850-7000 yuan/ton, and the ex factory quotation of 85% thermal phosphoric acid in Sichuan region is around 6850 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6983 yuan/ton.

Cost end

In terms of raw material yellow phosphorus. This week, the price of yellow phosphorus in the market has risen, and market sentiment is high. Manufacturers’ quotes are firm, and specific transaction negotiations are the main focus. It is expected that the short-term yellow phosphorus market will continue to consolidate and operate at a high level.

Raw material phosphate rock market. This week, the market price of phosphate ore has been operating at a high level, with tight supply in some areas. The main focus is on issuing preliminary orders. It is expected that domestic phosphate rock prices will remain stable in the short term.

Supply and demand side

This week, the spot supply of phosphoric acid in the market remains tight, and some wet process phosphoric acid units have been shut down for maintenance and have not been restored. The market supply has decreased, and there is positive support from the supply side. Pre holiday downstream stocking is active, and currently the supply and demand of the phosphoric acid market are balanced.

3、 Future forecast

The phosphate analyst from Shengyi Society believes that the phosphate market has stabilized after the recent rise in prices. At present, the raw material market is strong at a high level, with strong cost support, and the spot market is still tight. It is expected that the short-term phosphoric acid market will mainly operate with strong prices.

According to the Commodity Market Analysis System of Shengyi Society, the PP market was weak in early September, with prices of various brand products experiencing a narrow decline. As of the afternoon of September 10th, the mainstream offer price for wire drawing by domestic producers and traders was around 7678.57 yuan/ton, with a decrease of -1.38% compared to the beginning of the month.

Price trend

In terms of raw materials:

In terms of international crude oil, the current market continues to follow the end of the peak oil season in the United States at the end of August, and the decline in oil prices has affected the loosening of the upstream of PP in the far end. However, due to the expectation of interest rate cuts by the Federal Reserve and the postponement of OPEC+’s production plans, there are still opportunities for a rebound in the future. There is significant pressure on propylene shipments in the early stages, with limited improvement in market momentum, and there is still a recent decline. The price of propane is consolidating weakly, while the domestic supply of methanol has recovered, leading to a decline in the first half of the year. The cost support for PDH and methanol to PP production has weakened. Overall, in early September, the support of various raw materials for PP has cooled down.

Supply side:

In the first ten days, the load level of domestic PP enterprises continued the pattern of large stability and small fluctuations in the early stage, and the industry load remained stable at around 75% within ten days. The maintenance of enterprise equipment and resumption of work are intertwined, and the supply is trending towards a flat trend. At present, the commercial inventory of PP in China is stable at around 720000 tons, and the supply is generally abundant. Some enterprises in the southern and central regions of China have maintenance plans in the future, and there is an expectation of narrow supply contraction. Overall, the supply side provides sufficient support for PP spot prices.

In terms of demand:

The heating rate of PP demand side in early September was relatively slow. The load on terminal enterprises has increased, and the consumption of woven bags such as fertilizers and cement has initially increased. The willingness of plastic weaving enterprises to build warehouses has also increased. At the same time, the follow-up range of film companies and injection molding orders also followed suit. However, the weak market trading economy and intense macro bearish news may affect the confidence of downstream enterprises in the future. The demand side has limited support for PP spot goods.

Future forecast

In early September, the domestic PP market prices were relatively weak. From a fundamental perspective, the comprehensive support of upstream raw materials for PP has weakened, and the rise in consumption at the beginning of the peak season has not yet provided sufficient support for PP spot prices. The current market guidance is not yet clear, and under the influence of macroeconomic and upstream weakness, whether the demand for “Golden September” can further expand is the key to revitalizing the market sentiment in the future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on September 9th was 911 yuan/ton, a decrease of 1.62% compared to the average price of 926 yuan/ton on September 1st.

2、 Market analysis

Since September, the overall price of ammonium sulfate in the domestic market has been weak and declining. The operating rate of coking enterprises remains stable, while the operating rate of internal level enterprises has decreased. Downstream demand has weakened, inquiries have decreased, and there is a resistance to high prices. The recent export market has not met expectations, coupled with the decline in urea prices, which has a negative impact on ammonium sulfate. As of September 9th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 900 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 905-935 yuan/ton.

3、 Future forecast

An ammonium sulfate analyst from Shengyi Society believes that the ammonium sulfate market has recently experienced narrow fluctuations and consolidation. At present, the downstream purchasing intention is not strong, and the export market is flat. It is expected that the domestic ammonium sulfate market price will experience a slight consolidation in the short term.