1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average price of ammonium sulfate in the domestic market on June 18th was 1033 yuan/ton, which is 961 yuan/ton higher than the average price on June 10th. The price of ammonium sulfate in the domestic market has increased by 7.45%.

2、 Market analysis

In mid June, the price of ammonium sulfate in China has significantly increased. The enterprise has stable production and sufficient market supply. Downstream procurement enthusiasm has increased, and market inquiries have increased. The rise in international market prices is beneficial for the domestic ammonium sulfate market. As the price of ammonium sulfate continues to rise, downstream customers are beginning to cautiously accept goods, and the upward trend of ammonium sulfate is slowing down. As of June 18th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 1045 yuan/ton. The mainstream ex factory quotation for ammonium sulfate in Shandong region is around 1030-1070 yuan/ton.

3、 Future Market Forecast

According to analysts from Business Society, the upward momentum of the ammonium sulfate market has slowed down recently, and the price of ammonium sulfate has adjusted narrowly. At present, there are still positive factors, but downstream caution has increased. It is expected that the domestic ammonium sulfate price will mainly fluctuate, consolidate and operate in the short term.

The price of isooctanol fluctuated and fell this week

According to the Commodity Market Analysis System of Business Society, as of June 14th, the price of isooctanol was quoted at 10040 yuan/ton, a fluctuation of 1.18% compared to the price of isooctanol on June 7th at 10160 yuan/ton. This week, the price of isooctanol has fluctuated and fallen, and downstream factories are facing difficulties in sales. Enterprises have average enthusiasm for raw material procurement. Shandong’s large factories have average shipments, while the price of isooctanol has declined narrowly, with downstream purchases mainly focused on small orders.

This week, the price of raw material propylene rose first and then fell

According to the propylene commodity market analysis system of Shengyishe, as of June 14th, the propylene price was quoted at 6993.25 yuan/ton, an increase of 1.14% compared to the fluctuating price of 6914.6 yuan/ton on June 7th; The price of propylene decreased by 0.21% compared to 7008.25 yuan/ton on June 12th. Crude oil prices fluctuate and consolidate, while propylene cost support still exists. This week, propylene prices first rose and then fell; Downstream production of propylene has decreased, downstream customers have just needed to purchase, propylene manufacturers have average shipments, the supply and demand of propylene market are weak, and propylene prices are fluctuating and consolidating.

Downstream plasticizer prices have fluctuated and fallen this week

According to the Commodity Market Analysis System of Shengyishe, as of June 14th, the price of plasticizer DOP was 10250 yuan/ton, a fluctuation decrease of 1.44% compared to the DOP price of 10400 yuan/ton on June 7th. The market for plasticizer raw material phthalic anhydride has declined, the price of isooctanol has fluctuated and fallen, the cost of plasticizers has decreased, plasticizer DOP enterprises are operating steadily, and the supply of plasticizer DOP is sufficient. Downstream construction is expected to rise, while demand is expected to rebound. The support for the rise of plasticizers still exists.

Future expectations

According to analysts from Business Society’s octanol product data, in terms of cost, the price of propylene first rose and then fell, while the cost support for isooctanol still exists; On the supply side, iso octanol manufacturers have low inventory and average shipments; In terms of demand, downstream plasticizer product prices of isooctanol have fluctuated and fallen, and downstream demand is expected to rebound in the future. Overall, the tight supply and demand for isooctanol are expected to rebound, while cost support remains. It is expected that the price of isooctanol will consolidate strongly in the future.

According to the commodity market analysis system of Business Society, the price of styrene in Shandong was 9558.33 yuan/ton on June 7th, and 9591.67 yuan/ton on June 13th, an increase of 0.35%. The current price has increased by 27.75% compared to last year.

styrene

The market price of styrene has slightly increased this week. From the above chart, it can be seen that the price of styrene has mainly fluctuated and increased in the past three months, with a slight increase in the recent market trend. The main reason for the increase is the continuous rise in international oil prices, which has driven the upward trend of pure benzene market and provided strong cost support. However, the losses in the styrene industry continue to expand, and downstream industries are more resistant to high prices, suppressing the increase in the styrene market.

Cost side

Recently, pure benzene has continued to rise overall. At present, the pure benzene port warehouse is at a low level, and the demand side in the East China market is actively stocking up, with spot traders buying up and entering the market. Most refineries in Shandong continue to raise their prices. After the price increase, market buying continued and transactions were better. As of June 13th, the mainstream spot price of pure benzene in the Shandong market is 9442 yuan/ton. Compared to the beginning of the year, currently pure benzene is still in the high range, which can provide some cost support for styrene.

Supply side

In June, there were many inspections of the styrene unit. On the 12th, the 600000 ton/year styrene unit of Zhejiang Petrochemical was shut down for two weeks for maintenance. On the 14th, the 80000 ton/year styrene unit of Huaxing Petrochemical was shut down for maintenance, and the restart time is uncertain. The 500000 ton/year styrene plant of Gulf Chemical is scheduled to be shut down for maintenance for 45 days in July. Zibo Junchen, Satellite Petrochemical, Xinpu Chemical, and Anhui Jiaxi Styrene Units have reduced their load to 70% of operation. The inventory of styrene remains low, and domestic supply remains at a relatively low level, which is beneficial for the styrene market. Under the current profit situation, the enthusiasm of production enterprises to start production is limited, and it is expected that there will be little supply pressure in June.

Demand side

Recently, the three major downstream markets of styrene have experienced two levels and one decline. Among them, domestic ABS prices have fallen. ABS downstream has no centralized procurement plan, and supply pressure is gradually increasing. The transaction volume in the East China market is weak, and the terminal has entered a low demand season. Overall, it is expected that the ABS market will continue to decline in the short term. The PS and EPS market is fluctuating and consolidating. The mainstream price of GPPS (polyphenylene sulfide) in the East China market is 10250-11400 yuan/ton, and the mainstream price of HIPS (polystyrene) is 11050-12200 yuan/ton. EPS cost support is average, coupled with downstream high price resistance, production and digestion of early finished product inventory are the main factors, and the market has a clear wait-and-see atmosphere, resulting in weak new order transactions.

According to the styrene data analyst from Business Society, the shutdown of styrene units in June resulted in a significant reduction in demand, leading to a decrease in supply expectations. The cost side pure benzene market is strongly supported, and downstream demand is expected to continue to increase. Business Society analysts predict that the styrene market will mainly rise.

Market Overview: According to the bulk list data of Business Society, as of June 7, 2024, the reference price of diethylene glycol in the domestic market was 5485 yuan/ton, an increase of about 10 yuan/ton or 0.18% compared to May 31, 2024 (reference price of diethylene glycol was 5475 yuan/ton).

Market situation: This week, the domestic diethylene glycol market fluctuated within a certain range. The number of arrivals within the week is around 10000 tons, and there has been a certain increase in inventory at the main port. Some devices have plans to restart, and supply support is weak. Downstream unsaturated resin production is weak and stable, polyester load is declining, overall demand remains weak, industry participation is limited, and there is a lack of favorable news to boost. The market trend is somewhat stagnant, and prices fluctuate within a narrow range. As of June 7th, the closing price in East China was between 5490-5500 yuan/ton, while the closing price in South China was between 5620-5640 yuan/ton.

Market forecast: Currently, the supply and demand logic dominates the market, with ships unloading and entering the warehouse during the holiday season. A relatively significant increase in inventory can be seen after the holiday. The sustainability of the follow-up of the main downstream unsaturated resin needs to be verified, and the market’s weak expectations remain unchanged. Business Society’s diethylene glycol analyst believes that in the short term, diethylene glycol will fluctuate and continue to monitor downstream follow-up.

According to the data from the Commodity Market Analysis System of Business Society, starting from June, terminal demand has weakened, and the hydrogen peroxide market has declined weakly. On June 1st, the average market price of hydrogen peroxide was 933 yuan/ton. On June 7th, the average market price of hydrogen peroxide was 920 yuan/ton, a decrease of 1.43%.

Terminal demand turns weak and hydrogen peroxide market declines weakly

Starting from June, the terminal caprolactam market has declined weakly, the paper market has declined, manufacturers have decreased their purchases of hydrogen peroxide water, and the hydrogen peroxide market has declined. The overall quotation is 900-950 yuan/ton. Among them, the average price of hydrogen peroxide in the Shandong region is around 950 yuan/ton, with a price drop of 50 yuan/ton; The average market price of hydrogen peroxide in Hebei region is 860 yuan/ton, and the price remains unchanged; The average price of hydrogen peroxide in the Anhui region is around 950 yuan/ton, with a price drop of 20 yuan/ton.

Chemical analysts from Business Society believe that the terminal demand for hydrogen peroxide is declining, and the hydrogen peroxide market will continue to weaken in the future.