According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the month was 11533 yuan/ton, and at the end of the month it was 11683 yuan/ton, a decrease of 1.30% in price.

 

Domestic manufacturers’ quotations for activated carbon have risen this month, with the ex factory price of activated carbon for coconut shell water purification in East China ranging from 9500 to 12500 yuan/ton. Market inquiries are active, and industry insiders are mostly pushing for prices, with a focus on market transactions.

 

Coconut shell charcoal has a certain amount of sales in applications such as gold extraction, water purification, and filter cartridges, especially for gold charcoal, which receives a lot of inquiries from the African market; Fruit shell charcoal can be shipped smoothly from low to medium index sources. There is a recent rebound trend in imported carbide materials, and the industry should pay more attention to it.

 

Prediction: The transaction volume in the activated carbon market is accelerating, and it is expected that the price of activated carbon will mainly fluctuate with a strong trend in the short term.

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According to the Commodity Market Analysis System of Shengyi Society, on November 27th, the domestic cyclohexanone market price reference was 8912 yuan/ton. On November 1st, the domestic cyclohexanone market price reference was 8837 yuan/ton, with a price increase of 75 yuan/ton, an increase of 0.85%.

 

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From the Commodity Market Analysis System of Shengyi Society, it can be seen that since November, the domestic cyclohexanone market has shown an overall trend of “first falling and then rising”. In the first ten days, the cyclohexanone market showed a downward trend, with a light trading atmosphere in the cyclohexanone market and poor downstream demand performance. There was insufficient positive support in the market, and the focus of cyclohexanone continued to move towards a lower level. On November 8th, cyclohexanone fell to the lowest point of the month, with a price reference of 8400 yuan/ton, a decrease of 4.95% in the first half of the month.

 

In the mid stage, as the cost situation rises, the support from the cost side for cyclohexanone gradually increases. However, the overall transmission of demand is still average, and the cyclohexanone market has stopped falling and stabilized, operating in a consolidation.

 

In the later stage, the cost side market continued to provide support for cyclohexanone, and the spot supply of cyclohexanone in the market was tight. The low-priced supply in the market gradually decreased, and the market situation rose at a low level. The market started to recover and the market center continued to rise. On November 27th, the domestic cyclohexanone market reference was around 8800-9100 yuan/ton.

 

Upstream: Since October 1st, the market for pure benzene in the upstream of cyclohexanone has shown an overall upward trend. As of November 26th, the reference price for pure benzene was 7371.33 yuan/ton, an increase of 3.68% compared to November 1st (7109.67 yuan/ton).

 

Market analysis in the future

 

At present, the cost side market plays a certain supporting role in the cyclohexanone market price, and the downstream market maintains a strong demand for essential goods. Some cyclohexanone factories have little inventory pressure. The cyclohexanone data analyst from Shengyi Society believes that the short-term cyclohexanone market will mainly rise in price, and the specific trend still needs to pay more attention to changes in supply and demand news.

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Recently, in response to the narrow downward trend of the acrylic acid market, the strong downstream wait-and-see atmosphere, and the significant reduction in acrylic acid imports and the expected increase in exports in 2024, the following is an analysis of the market situation:

 

1、 Current situation of acrylic acid market

 

Price and demand

 

The current market price of acrylic acid is showing a narrow downward trend, which may lead downstream enterprises to adopt a wait-and-see attitude towards the market prospects, thereby forming a strong wait-and-see atmosphere. As of November 26th, the benchmark price of acrylic acid in Shengyi Society was 6850.00 yuan/ton, a decrease of 0.17% compared to the beginning of this month (6862.00 yuan/ton).

 

The sluggish demand in downstream industries has also exacerbated market volatility, resulting in a weak overall performance of the acrylic acid market.

 

Raw material prices

 

The main raw material for acrylic acid is propylene, and its price fluctuates due to the supply and demand relationship in the crude oil market and petrochemical industry. The rise in raw material prices will increase the production cost of acrylic acid, thereby affecting the production enthusiasm and supply capacity of enterprises. As of November 25th, the benchmark price of propylene in Shengyi Society was 6773.25 yuan/ton, a decrease of -0.18% compared to the beginning of this month (6785.75 yuan/ton).

 

Capacity and Supply

 

In the first half of 2024, the supply of acrylic acid in China showed an increasing trend. In June 2024, the monthly production of acrylic acid in China was 266500 tons, with a monthly operating rate of 72.51%, indicating a high production level. With the increase of production capacity, the market supply capacity continues to strengthen, which may also exert some downward pressure on market prices.

 

However, due to fluctuations in market demand and the impact of the global economic situation, the supply of acrylic acid has not been fully converted into market demand, resulting in some production capacity not being fully utilized.

 

2、 Analysis of Import and Export Situation

 

Significant reduction in imports

 

In 2024, there will be a significant decrease in the import volume of acrylic acid, which may be related to various factors such as price differences between domestic and foreign markets, trade policy adjustments, and increased domestic production capacity.

 

The reduction of imports can help alleviate the supply pressure in the domestic market, but it may also have an impact on downstream enterprises that rely on imported raw materials.

 

Expected increase in exports

 

Despite the challenges posed by the global economic slowdown and uncertain trade environment, there are still expectations of incremental growth in China’s acrylic acid exports. This is mainly due to the increase in China’s acrylic acid production capacity, improvement in product quality, and increased recognition of Chinese products in the international market.

 

3、 Market Outlook and Suggestions

 

Market outlook

 

The future acrylic acid market will still face certain challenges and uncertainties, but the overall trend is expected to maintain stable growth. With the acceleration of industrialization and the development of emerging fields, the market demand for acrylic acid and its related products is expected to continue to increase.

 

proposal

 

For acrylic acid production enterprises, they should closely monitor market dynamics and changes in customer demand, strengthen technological innovation and product upgrades, and improve product quality and competitiveness.

 

At the same time, actively exploring international markets, expanding export share, and reducing the risk of dependence on a single market. For downstream enterprises, they should strengthen cooperation and communication with upstream enterprises to jointly respond to the challenges and opportunities brought by market changes.

 

In summary, the acrylic acid market has experienced a period of upward trend, but due to market trends, supply and demand relationships, cost support, and other factors, it has shown an overall downward trend this week.

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According to the Commodity Market Analysis System of Shengyi Society, the mixed xylene market trend slightly rebounded from November 18 to 25, 2024. On November 18th, the benchmark price of mixed xylene was 5830 yuan/ton, an increase of 0.68% from 5860 yuan/ton on November 25th. This week, the xylene market experienced a narrow range of fluctuations, with downstream companies releasing some demand for replenishment of essential stocks, driving an improvement in the atmosphere of spot market negotiations. The overall market rebounded slightly this week, but the magnitude was limited.

 

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Cost wise: As of November 21st, the settlement price of the main contract for WTI crude oil futures in the United States was $70.10 per barrel. The settlement price of the main Brent crude oil futures contract is $74.23 per barrel. This week, international oil prices fluctuated and rose. As of the 19th, the settlement price of the main contract for WTI crude oil futures in the United States was $69.39 per barrel, and the settlement price of the main contract for Brent crude oil futures was $73.31 per barrel. During this cycle, crude oil prices have fluctuated widely, with little overall change. On the one hand, OPEC’s production reduction plan of 2.2 million barrels per day has been extended until the end of December, which is good news for international oil prices. On the other hand, weak demand in China, India, and other regions has led to continued concerns in the market about demand, which is bearish for the oil market. The recent geopolitical situation remains one of the important factors affecting the crude oil market.

 

Supply side: During this cycle, Sinopec’s xylene quotation has been partially raised. Currently, the company is operating normally, with stable production and sales. The company’s quotation remains unchanged from the previous day. As of November 25th, East China Company quoted 5850 yuan/ton, North China Company quoted 6000 yuan/ton, South China Company quoted 5950-6050 yuan/ton, and Central China Company quoted 5900 yuan/ton.

 

Demand side: The external market for xylene continues to decline, and demand support is weak

 

On November 25th, Sinopec Sales Company temporarily stabilized the price of xylene, with the current execution price of 7300 yuan/ton. This price is being implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other facilities are operating stably, with normal sales, and the price is unchanged from November 18th. The PX price continued to decline both inside and outside the cycle. As of the closing of the Asian xylene market on November 22, the closing prices were 786-788 US dollars/ton FOB Korea and 811-813 US dollars/ton CFR China, a decrease of 16 US dollars/ton compared to the same period last week.

 

Market forecast: The crude oil market trend is volatile, with limited guidance for the spot market. In terms of supply, the inventory of refineries in Shandong region has been low recently, and port inventory has also been operating at a low level, resulting in less supply pressure. On the demand side, downstream procurement intentions are biased towards rigid demand. Overall, there are still favorable supply and demand conditions, and it is expected that the market will rebound slightly in the short term.

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According to the data from the Commodity Market Analysis System of Shengyi Society, since November 11th, the bearish trend has led to a decline in the hydrogen peroxide market. On November 18th, the average market price of hydrogen peroxide was 726 yuan/ton, and on November 22nd, the average market price of hydrogen peroxide was 720 yuan/ton, a decrease of 0.92% in price.

 

Negative factors combined with a decline in the hydrogen peroxide market

 

Since November 11th, terminal demand has been weak, and manufacturers’ purchases of hydrogen peroxide are average. Multiple negative factors have suppressed the market, and the hydrogen peroxide market has continued to operate weakly, with an overall quotation of 700-720 yuan/ton. On November 11th, the average price of hydrogen peroxide in the Shandong region was around 700 yuan/ton, which remained stable, while the average price of hydrogen peroxide in the Hebei region was 700 yuan/ton, which remained unchanged; The average price of hydrogen peroxide in the Anhui region is around 760 yuan/ton, and the price remains stable; The average price of hydrogen peroxide in the Hangzhou area is 950 yuan/ton, and the market remains stable.

 

Business Society Chemical Analysts believe that at the end of November, the demand for hydrogen peroxide terminals was poor, and the future hydrogen peroxide market will continue to operate weakly.

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According to the Commodity Market Analysis System of Shengyi Society, the PET market price is running weakly. As of November 18th, its average market price has been adjusted to 6190 yuan per ton.

 

The domestic macro atmosphere did not meet expectations, with a decline in crude oil and raw materials, limited support on the PET cost side, and poor downstream willingness to take over, resulting in a downward trend in the PET market price center. In terms of supply and demand, some factories are selling at low prices, while downstream suppliers are maintaining essential purchases. Terminal performance is weak, overall demand is weak, and delivery pressure is increasing. Holders of goods are expected to sell at low prices, and the PET market continues to operate weakly.

 

Overall, it is expected that the PET market will continue to experience weak adjustments in the short term, and the actual trend will depend on the trend of the raw material side and the subsequent actual supply and demand situation, while paying attention to changes in crude oil.

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According to the Commodity Market Analysis System of Shengyi Society, from November 11th to 18th, the domestic ethanol price fell from 5570 yuan/ton to 5520 yuan/ton, with a price drop of 0.90% during the cycle and a year-on-year decline of 18.82%. The domestic ethanol market is operating steadily, with major factories accompanying shipments. The trading atmosphere is still acceptable, and shipments are average. Downstream shipments are mainly accompanied by fixed procurement.

 

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In terms of cost, domestic corn prices have remained weak and stable, with some areas experiencing a continuous increase in new grain production. Due to weather conditions, it is difficult to store grain, and farmers have increased their enthusiasm for selling grain. Deep processing enterprises have further lowered their prices to purchase corn. The cost of ethanol lacks favorable support.

 

On the supply side, the supply in various regions remains stable, with some factories experiencing short-term shutdowns and plans to restart. Coal quality factories are expected to operate normally, and production on the Fukang Fourth Line is expected to resume. There may be some increase in spot supply in some areas. There are hardly any favorable factors in the supply of ethanol.

 

On the demand side, the consumption of Baijiu on the demand side has not changed much, and the overall production and sales are slightly flat; The downstream production rate of ethyl acetate remains stable, mainly due to the stable consumption of raw material ethanol. The impact of short-term ethanol demand is mostly stable.

 

In the future forecast, the cost is mainly stable with weak operation, and there are unlikely to be any positive factors in the supply and demand side in the short term. Ethanol analysts from Shengyi Society predict that the domestic ethanol market may not have a breakthrough in the short term.

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1、 Price trend

 

Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market price has remained stable this week, with an average price of 15166.67 yuan/ton.

 

2、 Market analysis

 

The domestic titanium dioxide market has remained stable this week. The price of titanium concentrate on raw materials is weakly stable, while the price of sulfuric acid has slightly increased. Internationally, there is significant pressure on enterprises to export. Domestically, the titanium dioxide market is sluggish, with a strong wait-and-see sentiment downstream. Actual orders are cautious, and new orders are priced according to market trends, making the market more flexible. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 14000-15900 yuan/ton; The quotation for rutile titanium dioxide is around 13500 yuan/ton. The actual transaction price is negotiable.

 

In terms of titanium concentrate, the price of titanium concentrate in the Panxi region is weakly stable. The supply of titanium ore in the Panxi region has decreased, and the spot market is tight. Downstream cost pressure is high, on-site inquiries are still acceptable, and actual orders are being cautiously observed, with a focus on first-time purchases. The upstream and downstream markets are mainly wait-and-see, and it is expected that the titanium ore market will continue to weaken and consolidate in the short term.

 

3、 Future forecast

 

The titanium dioxide analyst from Shengyi Society believes that the domestic titanium dioxide prices have remained stable this week, and downstream demand continues to be weak. Market procurement is cautious and cautious. It is expected that the market will maintain stable operation in the short term, and the actual transaction price will be negotiated one by one.

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According to the Commodity Market Analysis System of Shengyi Society, the TDI market has been consolidating and operating this week, with some quotations slightly rising. The price of TDI domestic goods is around 13000-13100 yuan/ton, and the price of Shanghai goods is around 13100-13300 yuan/ton. The willingness of suppliers to raise prices during the week is obvious, and the output of some devices is unstable. Traders are reluctant to sell, but downstream entry into the market is cautious and lacks actual order support. It is expected that the TDI market will remain stable in the short term.

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According to the Commodity Market Analysis System of Shengyi Society, the price trend of acetic acid has continued to decline this week. On October 31st, the average price of acetic acid was 2850 yuan/ton, and on October 28th, it was 2950 yuan/ton. The price decreased by 100 yuan/ton during the week, a decrease of 3.39%.

 

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This week, the acetic acid market continued to decline, and enterprise quotations continued to decline. On the supply side, there is little change in the acetic acid plant on site, and the market supply is sufficient. The enterprise inventory has accumulated, and the shipping sentiment is gradually increasing; On the downstream side, the enthusiasm for entering the market to acquire goods is not high, with a focus on a small amount of demand. Market trading is average, and companies continuously lower their quotations to promote shipments.

 

As of October 31st, the market prices of acetic acid in various regions are as follows:

Region/ On October 28th/ On October 31st/ Rise and fall

South China region/ 2825 yuan/ton/ 2775 yuan/ton/ -50

North China region/ 2875 yuan/ton/ 2725 yuan/ton/ -150

Shandong region/ 2850 yuan/ton/ 2775 yuan/ton/ -75

Jiangsu region/ 2700 yuan/ton/ 2650 yuan/ton/ -50

Zhejiang region/ 2800 yuan/ton/ 2750 yuan/ton/ -50

The upstream methanol market first fell and then rose. From October 28th to 31st, the average price in the domestic market decreased from 2490 yuan/ton to 2485 yuan/ton, with an overall decline of 0.20%. At the beginning of the week, downstream demand was poor, market buying momentum was weak, and coupled with the downward trend in the futures market, methanol spot prices fell synchronously; Afterwards, the buying of gas improved, boosting the methanol market. In addition, with the recent increase in shipping costs, methanol prices have rebounded and risen accordingly.

 

The downstream acetic anhydride market is operating weakly. On October 31st, the average ex factory price of acetic anhydride was 5115.00 yuan/ton, a decrease of 0.15% compared to the price of 5122.50 yuan/ton on October 28th. The upstream acetic acid market continues to decline, and the cost of acetic anhydride is bearish. Downstream market entry follows up as needed, and actual market transactions are limited. Industry players are adopting a wait-and-see attitude, and acetic anhydride prices are consolidating downward.

 

Market forecast: Business Society’s acetic acid analyst believes that the acetic acid plant is operating normally, the market supply is stable, and the company’s sales are under pressure; Downstream and trading demand is limited, the market trading atmosphere is average, and there is strong supply and weak demand in the market. It is expected that the short-term acetic acid market will continue to operate weakly, and attention will be paid to downstream follow-up in the future.

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