Category Archives: Uncategorized

The price of formic acid remains stable at the beginning of 2025

According to the Commodity Market Analysis System of Shengyi Society, the price of formic acid remained stable at the beginning of 2025 compared to the end of 2024. As of January 6th, 85% of industrial formic acid in China was priced at 2950 yuan/ton, a decrease of 6.35% compared to the same period last year when it was priced at 3150 yuan/ton.

 

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The main reason for the stabilization of raw material methanol prices is that traditional downstream industries are resistant to high prices. In the short term, port inventory has entered the channel of destocking, and the market has a strong willingness to hold goods, resulting in firm prices.

 

The demand for upstream sulfuric acid has slowed down compared to the previous period, and the supply remains tight, with prices still showing upward momentum; The high cost of raw materials still provides strong support for sulfuric acid.

 

The downstream pesticide, rubber, leather, and pharmaceutical industries purchase goods on a per order basis based on market demand, with rigid demand being the main focus. The focus of negotiations in the formic acid market remains stable.

 

According to analysts of Business Society’s formic acid data, the current cost support for formic acid is average, and market trading is mainly driven by demand. It is expected that 85% of domestic industrial formic acid prices will remain stable in the short term, and specific changes in market conditions still need to be monitored.

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The average price of ethylene glycol increased by 2.11% in December

Ethylene glycol prices rise in December

 

The price of ethylene glycol rose in December. According to data from Shengyi Society, as of December 31st, the average price of domestic oil to ethylene glycol was 4688.33 yuan/ton, an increase of 2.11% from the average price of 4591.67 yuan/ton on December 1st.

 

In the morning session, spot contract traders had weak trading. After the market rose, there was an increase in spot contract shippers, and receiving traders were cautious and afraid of high prices. They did not receive many orders, resulting in weak market trading.

 

On December 31st, the price of coal to ethylene glycol remained stable, with prices in the northwest region ranging from 4320 to 4360 yuan/ton, including taxes.

 

On December 30, 2024, the external price of ethylene glycol was as follows: the landed price in China was 554 US dollars/ton, and the landed price in Southeast Asia was 546 US dollars/ton.

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Domestic asphalt market shows mixed ups and downs

The spot market for asphalt showed mixed ups and downs. Considering the low contract volume of some brands at the end of the month and limited inventory pressure of refineries, some brands’ offers were relatively firm. Two sets of equipment in Xinhai, Hebei produced asphalt, and some refineries in Shandong and Henan regions will switch to asphalt production today, resulting in a slight increase in supply pressure; From the perspective of the southern region, the main refineries are maintaining intermittent production, and the market demand is gradually coming to an end. In the short term, the spot market will mainly maintain a situation of low price strength and high price pressure.

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The MTBE market fluctuated significantly in December

According to the Commodity Market Analysis System of Shengyi Society, the domestic MTBE market is fluctuating and consolidating. From December 1st to 30th, the MTBE price first rose from 5445 yuan/ton and then fell to 5492 yuan/ton, with a price increase of 0.87% during the period and a year-on-year decrease of 15.66%.

 

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At the beginning of the month, the domestic MTBE market remained stable and consolidated. After entering December, there were some pending delivery orders for gasoline, which increased the enthusiasm for purchasing gasoline raw materials. At the same time, there were also many new gasoline vehicle and ship orders, which provided positive support for the relevant gasoline raw material market and maintained a strong consolidation.

 

In mid month, the domestic MTBE market experienced significant fluctuations, with price increases being particularly evident. The core driving factors for the broad upward trend in prices were the large number of gasoline shipments and the strong support of new vehicle and shipping orders. Industry players showed high enthusiasm for purchasing relevant gasoline raw materials, and MTBE manufacturers actively pushed up prices. However, near the end of the week, manufacturers’ shipments weakened.

 

At the end of the month, the domestic MTBE market trend gradually weakened. As the phased replenishment of inventory by terminal operators came to an end, the enthusiasm for purchasing related gasoline raw materials slowed down. At the same time, due to the rise of various gasoline components to a phase high point, the mixed profit of operators was compressed, resulting in an increasing resistance to high prices. The MTBE market remained stable but slightly weak.

 

On the cost side, the international crude oil market in December was mainly volatile, with the main positive factors being: the market believes that the Asian economy is expected to improve, coupled with the risk of new sanctions faced by some oil producing countries, and the decline in US commercial crude oil inventories. As of December 27th, the settlement price of the main Brent crude oil futures contract was $74.17 per barrel, an increase of $0.91 or 1.20%.

 

From the perspective of demand and downstream gasoline terminal demand, the finished oil market has stopped rising and fallen, and refineries have lowered prices to promote sales. However, the poor performance of terminal demand has suppressed the digestion of social units’ inventory, and the pace of mid to downstream merchants entering the market for procurement has slowed down. Market transactions are mainly small orders. Short term MTBE demand is influenced by bearish factors.

 

On the supply side, the operating rate of the equipment has increased. Short term domestic MTBE supply is affected by bearish factors.

 

As of the close on December 27th, the closing price of the Asian MTBE market has decreased by $4/ton compared to the previous trading day, with FOB Singapore closing at $706.99-708.99/ton. The closing price of the European MTBE market has increased by $5/ton compared to the previous trading day, with FOB ARA closing at $850.99-851.49/ton. The closing price of the MTBE market in the United States increased by $4.92/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $815.81-816.16/ton (230.35-230.45 cents/gallon).

 

The future forecast shows weak supply and demand. MTBE analysts from Shengyi Society believe that the domestic MTBE market will experience a narrow consolidation in the short term.

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The market is weak, and the price of epichlorohydrin has fallen

This week, the focus of the epichlorohydrin market is relatively weak, and prices have declined. As of December 27th, the benchmark price of epichlorohydrin in Shengyi Society was 9125.00 yuan/ton, a decrease of -1.08% compared to the beginning of this week (9225.00 yuan/ton).

 

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Price influencing factors:

 

Raw material side: propylene is mainly sorted in a narrow range, while glycerol market prices are consolidating at a high level. The cost side of epichlorohydrin is still under pressure. According to the market analysis system of Shengyi Society, as of December 27th, the benchmark price of propylene in Shengyi Society was 6823.25 yuan/ton, a decrease of -0.33% compared to the beginning of this month (6845.75 yuan/ton).

 

Supply side: The increase in new production capacity of epichlorohydrin has eased the previous supply tension. This week, the overall operating rate of the epichlorohydrin industry reached 50-60%. It is expected that after the restart and load increase of some facilities in Zhejiang, Shandong and other areas next week, the market supply will increase.

 

Downstream demand side: Downstream mainly consumes inventory and purchases small amounts of replenishment as needed. The trading atmosphere for new orders is cold. Traders should maintain a mentality of buying up and not buying down, and be cautious and wait.

 

Market forecast: Analysts from Shengyi Society believe that cost side prices are under pressure, and downstream inventory consumption is the main factor. They should purchase according to demand and purchase raw materials cautiously. In addition, some enterprises are expected to restart their facilities and increase their burdens. It is expected that the supply of epichlorohydrin will increase next week, and there will be a slight fluctuation adjustment in market prices. More attention still needs to be paid to changes in market prices.

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Adequate supply: Isooctanol prices have fluctuated and fallen this week

According to the Commodity Market Analysis System of Shengyi Society, as of December 23, the price of isooctanol was 7833.33 yuan/ton, a fluctuating decrease of 4.47% compared to the price of 8200 yuan/ton on December 16. This week, the equipment production of isooctanol enterprises remained stable at a high level. The supply of isooctanol was sufficient, but the demand was average, resulting in oversupply and fluctuating prices of isooctanol.

 

Adequate supply of isooctanol this week

 

This week, isooctanol enterprises started production at a high level and remained stable. In addition, new production capacity of isooctanol was gradually put into operation in December, resulting in a significant increase in isooctanol supply in December. The downstream demand increment is not as significant as the increment of octanol, and there is an oversupply of isooctanol, which increases the downward pressure on isooctanol and causes its price to fluctuate and fall.

 

Downstream plasticizer DOP prices fluctuated and fell this week

 

According to the Commodity Market Analysis System of Shengyi Society, as of December 23, the DOP price was 8326.25 yuan/ton, a fluctuating decrease of 2.92% compared to the DOP price of 8576.25 yuan/ton on December 16. The price of isooctanol has fluctuated and fallen, the cost of plasticizers has decreased, the profit margin of plasticizer DOP is high, and the enthusiasm of plasticizer enterprises to start production is high. The operating rate of downstream plasticizer enterprises is high, and plasticizers have certain positive support for the demand for isooctanol. However, downstream inventory replenishment at low prices has limited support for the demand for isooctanol.

 

Future expectations

 

According to the data analyst of Business Society’s octanol product, this week’s high equipment start-up of isooctanol enterprises, coupled with the production of new capacity, has led to an oversupply of isooctanol and increased downward pressure on isooctanol; This week, downstream plasticizer manufacturers have seen an increase in production, but many of them are restocking at low prices, resulting in average demand for isooctanol and limited support for its upward trend. In the future, there will be an oversupply of isooctanol with average demand, and it is expected that the price of isooctanol will weakly decline.

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The domestic phosphoric acid market fluctuates narrowly (12.13-12.20)

1、 Price trend

 

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According to the Commodity Market Analysis System of Shengyi Society, as of December 20th, the reference average price of 85% thermal phosphoric acid in China was 6660 yuan/ton, which is 0.30% lower than the reference average price of 6680 yuan/ton on December 13th.

 

According to the Commodity Market Analysis System of Shengyi Society, as of December 20th, the reference average price of 85% wet process phosphoric acid in China is 7000 yuan/ton, which is an increase of 0.24% compared to the reference average of 6983 yuan/ton on December 13th.

 

2、 Market analysis

 

Market aspect

 

This week, the domestic price of hot process phosphoric acid has slightly decreased, while the price of wet process phosphoric acid has slightly increased. As of December 20th, the ex factory price of 85% thermal phosphoric acid in Hubei region is around 6600-6800 yuan/ton, and the ex factory price of 85% thermal phosphoric acid in Sichuan region is around 6400-6600 yuan/ton. The domestic market price for 85% wet process phosphoric acid is around 6650-7150 yuan/ton.

 

In terms of cost

 

In terms of raw material yellow phosphorus. This week, the price of yellow phosphorus in the market has weakened and fallen. Downstream procurement is cautious, with a decrease in new orders in the market, and business owners mainly issuing preliminary orders. This week, the operating rate of yellow phosphorus has declined and the market supply has decreased. It is expected that domestic yellow phosphorus prices will stabilize in the short term.

 

Raw material phosphate rock market. The phosphate ore market has remained stable this week, maintaining a high and steady operation. At present, the market supply is still tight, downstream demand is stable, and market trading is good. It is expected that domestic phosphate rock prices will continue to operate steadily in the short term.

 

Supply and demand side

 

This week, the supply and demand balance in the phosphoric acid market has not experienced significant fluctuations. Downstream on-demand procurement, market trading atmosphere is light. At present, the market supply is stable, and there is no significant change in the supply and demand side.

 

3、 Future forecast

 

Business Society’s phosphate analyst believes that there has been a slight adjustment in the phosphate market recently. The raw material yellow phosphorus market has weakened, cost support has weakened, and the price of thermal phosphoric acid has been lowered. Due to downstream demand support, the wet process phosphoric acid market remains strong. It is expected that the short-term acid market will mainly experience a narrow consolidation.

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The isopropanol market has slightly decreased this week (12.9-12.13)

1、 Price trend

 

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According to the monitoring of the commodity market analysis system of Shengyi Society, the isopropanol market has slightly decreased this week. The average price of isopropanol in China was 6690 yuan/ton on Monday and 6670 yuan/ton on Friday, with a price reduction of 0.3%.

 

The isopropanol market has slightly decreased this week. The market for acetone on the raw material side has declined, with average cost support. The attitude of the cargo holder is still acceptable, the quotation remains at the previous level, and there is a strong wait-and-see sentiment in the downstream market. They are cautious when picking up goods due to urgent needs and are cautious when placing actual orders. The majority of isopropanol market prices in Shandong region are around 6600-6700 yuan/ton; The majority of isopropanol market prices in the Jiangsu and Zhejiang regions are around 6650-6700 yuan/ton, while prices in the South China region are around 7050-7100 yuan/ton.

 

In terms of raw material acetone, the market price of acetone has fallen this week. The average price of acetone on Monday was 5890 yuan/ton, and on Friday it was 5857.5 yuan/ton, with a price increase of 0.55%. Market participants are mainly cautious and observing, with quotes maintaining range fluctuations and actual orders being cautious.

 

In terms of raw material propylene, the propylene market has been fluctuating this week. On Monday, the average domestic propylene price was 6843.25 yuan/ton, and on Friday, the average price was 6843.25 yuan/ton, unchanged. At present, inventory is low, downstream demand is good, the focus of propylene offers has increased, and market trading is still acceptable.

 

3、 Future forecast

 

The isopropanol analyst from Business Society Chemical Branch believes that the isopropanol market has slightly decreased this week. The market for acetone on the raw material side has declined, while propylene has fluctuated within the range, with average cost support. Downstream procurement is based on demand, and actual orders are handled with caution. It is expected that the isopropanol market will experience slight fluctuations within the short-term range.

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The price of aniline is under pressure and rising due to high costs

According to the Commodity Market Analysis System of Shengyi Society, the price of aniline has been raised twice recently, with a 100 yuan/ton increase on Thursday and a 100 yuan/ton increase on Friday. As of this Friday, the spot price of aniline in East China has risen to 9450 yuan/ton, with acceptance of 9550 yuan/ton. It is reported that due to the continuous rise in the price of raw material pure benzene, aniline enterprises have reduced their profits and faced losses. Factories have rationally pushed up prices, and downstream market entry enthusiasm is still acceptable. It is expected that there will be limited room for aniline to continue to rise in the short term, and the main focus will be on digesting the increase.

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The domestic BDO market rose first and then fell in November

According to the Commodity Market Analysis System of Shengyi Society, the domestic BDO market first rose and then fell. From November 1st to 29th, the MTBE price first rose from 8664 yuan/ton and then fell to 8624 yuan/ton, with a price drop of 0.25% during the period and a year-on-year price drop of 10.24%.

 

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In the first half of the month, there were frequent fluctuations in the operation and maintenance of the equipment, with a mainly wait-and-see attitude. The industry continues to suffer losses, and suppliers actively support the market, limiting the room for market price fluctuations. The overall downstream demand is average, and there is a game between supply and demand, resulting in a stalemate in the focus of the domestic BDO market.

 

In mid month, the domestic BDO market remained on the sidelines, with orders in urgent need being delivered. At present, it is in a period of transition between the old and new cycles, lacking clear news guidance. Industry players are mostly holding steady and observing, while spot negotiations are light, and the overall market situation is temporarily stable.

 

At the end of the month, although the existing equipment was replaced, the temporary faulty equipment was restarted and some equipment was put into negative operation, resulting in an increase in industry capacity utilization and a weakening of supply side support. Downstream industry contracts are following up, spot trading is light, holders are cautious, and the market focus is stable with a downward trend.

 

Supply side: In terms of equipment, the industry’s capacity utilization rate has significantly improved, the market supply has increased, and the expected increase in market supply of goods has weakened supply side support.

 

On the cost side, raw material calcium carbide: The power restrictions in Inner Mongolia have eased, and the market supply capacity has increased. With the rise in prices in the early stage, trade inversion has led to a trading environment list. In terms of methanol, the domestic methanol market was relatively strong in September, and the cost of BDO was influenced by favorable factors.

 

On the demand side, most downstream industries such as PTMEG, PBAT, and polyurethane have reduced production loads due to equipment load reduction or maintenance, resulting in a decrease in raw material digestion. The demand side of BDO is negatively affected.

 

In the future market forecast, the supply of goods in the market will increase, while the pace of downstream demand will follow suit. Spot trading volume will be light, and the supply-demand contradiction will intensify. The BDO analyst from Shengyi Society predicts that the domestic BDO market is weak and consolidating.

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