Titanium dioxide rose channel officially opened. We on July 7 this year, suggesting that titanium dioxide into the third quarter is expected to return to the rising channel, the main logic is the titanium dioxide industry supply and demand tight throughout the year, the seasonal factors and inventory factors will affect the ups and downs, and off-season foreign titanium White powder prices further prices out of space. Recently, the dragon python Bai Li as the representative of a number of titanium dioxide manufacturers raised the price of 500 yuan / ton, indicating that the rise of titanium dioxide channel officially opened, confirms our early judgment. In the current node, the industry supply and demand pattern has been in a tight state, we believe that titanium dioxide market has been officially launched: (1) tight supply and demand throughout the year: titanium dioxide industry in 2017 domestic demand growth of 6%, net exports increased by 7%, and industry (2) from the current point of view, the dealer inventory after the second quarter decline in product prices and digestion, three, Quarterly demand season, as well as environmental protection to boost the price of raw materials titanium concentrate, rising power superimposed. (3) the long term, sulfuric acid method by the new environmental restrictions, chlorination method has yet to be further technological breakthroughs, expansion of the right to speak in the hands of the dragon python Bai Li, supply and demand structure of the continuous improvement and leading the trend of concentration.

Supply side: long-term capacity growth continues to low, short-term environmental protection serious supply. (1) in the long term, capacity growth continued to low, the industry operating rate will remain 75% level. Mainly due to the titanium dioxide industry has experienced four years of the bottom of the industry, some small production companies to achieve rapid start more difficult, since 2014, the industry operating rate has been maintained at 75% from top to bottom. At the same time, due to the existence of industry access standards and environmental trends become more normal, the future new capacity is mainly concentrated in the chlorination method, and only four domestic manufacturers with chlorination production capacity. According to the latest capacity planning, the next few years new capacity is limited. (2) in the short term, a serious compression of environmental supply, resulting in accelerated arrival of titanium dioxide market. China’s 2017 titanium dioxide production capacity of 3.57 million tons, of which 835,000 tons in Sichuan, Shandong 600,000 tons, accounting for 24%, respectively, 19%. Most of our titanium dioxide is sulfuric acid method, the pollution is relatively serious, environmental protection trend, the supply probability will be affected. With the fourth batch of environmental protection inspection team stationed in Shandong and Sichuan provinces, the two provinces most enterprises operating rate of 50%, the majority of small production can be started at zero. Short-term supply of large contraction is expected to accelerate the price of titanium dioxide up.

Demand side: exports to the bright and clear, domestic demand is expected to be poor repair. (1) export to the bright and clear. Overseas demand to pick up, demand for titanium dioxide to the good, while domestic export prices have a competitive advantage, driven by China’s titanium dioxide exports continue to improve. From January to July, net exports grew by 10.4% year-on-year, especially since June, with net exports increasing by 28.9% and 17.5% respectively in June-July. (2) domestic demand is expected to remain stable. At the beginning of the year, the market for titanium dioxide domestic demand is generally more pessimistic. But in the shed reform monetization resettlement, three or four line residents down payment ratio is low, three or four lines of urban monetary orientation and other factors driven, so that China’s three or four line real estate market is currently maintained a high degree of prosperity, – August commercial housing sales area increased by 12.7%. In the three four-tier cities to inventory the overall tone of the premise is not changed, the stack of housing prices due to financing to speed up sales back to the money, even if the second half of the growth rate has come down, but we expect the annual sales of commercial housing to maintain rapid growth. Real estate sales data better performance led to the rapid growth of paint production. According to the National Bureau of Statistics data, from January to June 2017, the cumulative output of enterprises above designated size of the enterprise was 9,641,000 t, an increase of 10.5% over the same period of last year, thus boosting the demand for titanium dioxide.

Teschu reported on September 15 that US Commerce Secretary Ross announced the start of anti-dumping investigations on sponge titanium producers from Japan and Kazakhstan on the US market. The reason is that the United States Titanium Company proposed the supply of titanium sponge in Japan cheaper price of about 67% -95%, while Kazakhstan supply titanium sponge prices than US products 42.2% lower; In addition, the two countries sponge titanium suppliers enjoy injustice subsidy. Since January 2017, the US Department of Commerce has launched 65 anti-dumping investigations, 48% higher than the number of cases last year.

Recently, Reuters published an article saying that China is about to prohibit the import of certain waste waste, including a large number of plastic waste, which the US economy will undoubtedly have a negative impact, but on the other hand, it is for the polyethylene producers can To the positive effect.

Reuters wrote: As the Chinese government’s waste import regulations will be effective by the end of this year, will reject high-polluting waste plastics, so China’s demand for plastic will further soar. In order to compensate for the lack of recycled plastics, exports to China’s Middle East, South Korea, Thailand and Singapore petrochemical producers, exporters are expected to receive more product orders, including polyethylene.

China ‘s imports of scrap plastic ban or will benefit polyethylene manufacturers

Reuters reported that China has been the world’s largest importer of garbage. 2016 imports a total of about 7.3 million tons of waste plastics, more than half of the world’s total waste plastics. Among them, PE total 2.53 million tons, is expected this year the value will drop to 1.7 million – 1.8 million tons. However, in 2017 – 2018, the demand for PE in the Chinese market will grow by 6.6%. Native PE suppliers will benefit from the gap between supply and demand.

On July 18, China’s Minister of the Environment told the World Trade Organization (WTO) that China’s ban has a dual purpose. One is to revive the domestic material and restore the infrastructure. The second is to reduce pollution. A large number of hazardous waste is mixed into raw materials, which caused serious pollution to the environment, a threat to good health.

The US Waste Recycling Industry Association (ISRI) has expressed support for the Chinese government’s efforts to improve environmental protection and improve domestic recycling standards, but does not agree to prohibit imports.

SAN FRANCISCO (MarketWatch) – Singapore’s petrochemical exports rose 31.9% YoY to S $ 1.53bn in August, according to official data released by Singapore on Monday.

According to the Singapore International Enterprise Development Board, in August Singapore’s exports to China’s petrochemical products rose 35.8% year on year.

In terms of exports, Singapore’s methanol exports in August more than doubled, reaching 2556 tons, while exports of p-xylene (PX) increased by 21.4% to 139524.8 tons.

August benzene exports fell 14.9% year on year to 18,307 tons, while toluene exports increased 4.2% to 37,776 tons.

The New Zealand Environmental Protection Agency has officially approved the application of Trans Tasman Resources for the exploitation of iron ore at the South Taranaki Bight, which means that cross-Tasman Resources will develop in New Zealand’s exclusive economic zone Resources.

According to the application shows that the company plans in 35 years in the seabed digging capacity of 50 million tons / year, each year from the 5 million tons of iron ore. The southern Taranaki Bay mine area and the nearby Kupe block reported 1,698 million tons of iron ore resources in line with the Australian Mineral Reserves Joint Commission (JORC) standard, and the ferric oxide grade was 11.16%. In addition, the second phase of the mine block contains 2.37 billion tons of iron ore resources, ferric oxide grade 3.5%. The mines will be processed on a specially crafted integrated mining vessel of 345 meters in length, and the project is expected to begin exporting iron ore to Asia by 2020.

This controversial submarine mining project has undergone several months of controversy. Some members of the New Zealand Environmental Protection Agency’s decision-making committee still did not agree with the final outcome, on the grounds that the negative impact on the environment. Scientists at the New Zealand National Institute for Water Resources and Atmosphere also expressed concern about the mining operations in New Zealand’s exclusive economic zone. They argue that research shows that if deep sea mining activities are carried out at the bottom of the sea, some submarine biological communities will face the risk of disappearance.

State Council Information Office recently held a conference on the operation of the national economy in August. According to the data released at the meeting, in August, the national industrial added value above the scale of real growth of 6.0% year on year growth rate down 0.4 percentage points last month. Among them, the mining industry added value fell 3.4%; manufacturing growth of 6.9%, faster than last month to accelerate 0.2 percentage points. Manufacturing purchasing managers index was 51.7%, 0.3 percentage points higher than last month, for 13 consecutive months in the boom interval.

Data show that from January to August, the national fixed asset investment (excluding farmers) 3941.5 billion yuan, an increase of 7.8%, growth rate than 1 to 7 months down 0.5 percentage points. Among them, the state-owned investment 14382700000000 yuan, an increase of 11.2%; private investment 23914.8 billion yuan, an increase of 6.4%, accounting for 60.7% of the total investment. According to the industry, the first industry investment of 1270.2 billion yuan, up 12.2%; the second industry investment of 14.8229 trillion yuan, an increase of 3.2%, of which 12168 billion yuan investment in manufacturing, an increase of 4.5%; tertiary industry investment 23322 billion yuan, 10.6%. Infrastructure investment of 8.4748 trillion yuan, an increase of 19.8%. High-tech manufacturing investment increased by 19.5%, faster than the total investment of 11.7 percentage points. High energy-free manufacturing investment fell 1.6% year-on-year. Investment in fixed assets in place of 39620.7 billion yuan, an increase of 2.8%, faster than 1 to 7 months to 1.3 percentage points. The new project total investment of 3301.18 billion yuan, an increase of 2.2%, faster than 1 to 7 months to reach 0.3 percentage points. From the chain, in August the country’s fixed asset investment (excluding farmers) than last month increased by 0.57%.

In view of the fact that industrial production growth slowed down for two consecutive months, the National Bureau of Statistics spokesman Liu Aihua said that although industrial production has slowed, but regardless of year on year, the current growth should be said to be relatively stable growth The At the same time, 7-8 months, high temperature and rainy climate does have a certain negative impact on industrial production and management. In addition, the slowdown in industrial production and structural adjustment have a relatively large relationship. In August, the value added of high energy consumption manufacturing increased by 2.9%, down 0.4 percentage points from last month. And the pace of transformation and upgrading of the industry to maintain a faster growth trend, such as manufacturing added value increased 6.9%, 0.2 percentage points higher than last month; high-tech industry added value increased by 12.9%, 0.8 over the previous month Percentage point; equipment manufacturing industry added value increased by 11.6%, 0.9 percentage points higher than last month.

High-performance paint is a kind of surface used to enhance the physical properties of the varnish, can improve the surface of the object on the water, temperature and other environmental factors.

According to Transparency Market Research, due to the stability needs of many end-use industries, the paint market in the next few years may show steady growth. In 2017, the high global performance coatings market was valued at $ 7.91 billion, and by 2022 the market is expected to rise to more than $ 10.2 billion, up 5.2% year on year.

End-use industry demand is the main driving force

The global high performance paint market has become a key part of the global manufacturing growth. The steady growth of materials science is important for the global high-performance coatings market because it provides a relaxed and innovative channel for the market. Government support for the industry and private investment are likely to ensure a steady growth in the paint market.

The main driver of the global high-performance coatings market is the broad range of applications – such as consumer goods, automotive and aerospace, and is a major contributor to the market. The enhanced functionality provided by high performance coatings is critical in the manufacturing industry and may remain a key driver of the global performance coatings market.

The marine and power industries are likely to be critical to the coatings market in the coming years. The power sector is becoming more solid in the global economy, and it has been one of the preferred users of performance coatings to better protect wires and other electrical instruments. At the same time, the development of the power sector to provide users with more reliable services, but also lead to the global performance of the paint market demand.

Advances in power infrastructure, rising demand for alternative energy sources such as solar energy will also drive demand for high performance coatings. According to BNEF, 2016 global solar demand is about 70,000 megawatts, by the end of 2016 rated capacity of 160,000 megawatts. Least developed countries want solar energy to replace other high-cost energy demand is growing, which has become a key factor in the development of coating industry.

Various types of resins for the preparation of high performance coatings include epoxy resins, polyurethanes, polyesters and acrylic resins. Epoxy resin is the leading resin in the global performance coatings market. The business reached $ 2.92 billion in 2017, accounting for 37% of the global performance coatings market.

Europe will become another strong global market competitors

Geographic location, the global high-performance coatings market is divided into Japan in addition to the Asia-Pacific region, Europe, North America and the Middle East. Among them, the Asia-Pacific region other than Japan may still be a major regional contributor to the global high-performance coatings market, accounting for more than 30% of the global market during the 2017-2022 forecast period. By 2022, APEJ showed that the paint market would reach a valuation of $ 3.48 billion, with a compound growth rate of 6.2%. Japan may also be strong in the global high-performance coatings market to maintain strong competitiveness, by 2022, the region’s valuation will reach 1.12 billion US dollars, 2017-2022 forecast during the compound annual growth rate will reach 5.6%.

As a result of the resumption of manufacturing in Europe, the region has become another leading competitor to the global high performance coatings market. Europe’s high-performance coatings market is expected to reach $ 2.21 billion by 2022 and a compound annual growth rate of 4.5% during the 2017-2022 forecast period. The growth of local manufacturing centers in the United States has also driven the huge demand for high-performance coatings in North America – possibly from $ 1.58 billion to $ 1.98 billion during the 2017-2022 forecast period.

Throughout the world paint giant recent performance

Such as Akzo Nobel NV, Masco, Haihong Elder A / S, Jordan A / S, Valspar Coatings, Ashley Coatings, Nippon, BASF SE, PPG and other leading companies led the global coatings Market performance; and regional cooperation among industry participants may also be the next few years a feature of high-performance coatings market.

PPG: net profit of 835 million US dollars, an increase of 14.13%

July 20, PPG released 2017 mid-year report. Net sales during the reporting period were $ 7.292 billion, an increase of 1.36%; net profit was $ 835 million, an increase of 14.13%. Among them, high-performance coatings sector sales of 43.18 billion US dollars, down 1.35%; segment revenue of 69.8 billion US dollars, down 1.27%. Industrial coatings sector sales of 2.974 billion US dollars, an increase of 5.31%; segment revenue 537 million US dollars, down 3.59%.

Xuanwei: net profit of 558.3 ​​million US dollars, an increase of 2.74%

July 20, Sherwin-Williams released the mid-2017 report. Net sales for the reporting period were $ 6.497 billion, up 10.83% year on year; net profit was $ 558.3 ​​million, up 2.74% year-on-year. Among them, the Americas Group net sales of 43.894 billion US dollars, consumer brand group net sales of 859.8 million US dollars, high-performance coatings group net sales of 1.245 billion US dollars.

Akzo Nobel: net profit of 541 million euros, down 2%

On July 25, Akzo Nobel (AkzoNobel) released 2017 mid-year report. During the reporting period, sales revenue was 74.46 euros, up 4% year-over-year; EBIT was 837 million euros, up 1% year-over-year; net profit was € 541 million, down 2% year-on-year. (Note: net profit includes special chemicals business)

Nippon: net profit of $ 137.9 million, an increase of 19.4%

August 8, Nippon Paint (Nippon Paint) released 2017 mid-year report. During the reporting period, sales revenue was 291.55 billion yen, equivalent to 2.605 billion US dollars, about 17.646 billion yuan, an increase of 14.5%; operating profit of 35.49 billion yen, down 5.4%; net profit of 15.45 billion yen, About $ 137.9 million, an increase of 19.4%.

Ashley: net profit of 47 million US dollars, down 44.77%

August 3, Axal (Axalta) released in mid-2017 mid-year report. Net profit for the reporting period was $ 2,063.6 million, up 3.6% year-on-year; EBITDA was $ 305.1 million, down 17.14% year-over-year; operating income was $ 157.4 million, down 38.13% year-on-year. Net profit of 47 million US dollars, down 44.77%.

BASF: sales revenue of 1.997 billion euros, an increase of 30%

July 27, BASF (BASF) released in mid-2017 mid-year report. During the reporting period, the BASF coatings business sales revenue of 1.997 billion euros, an increase of 30%. Among them, the functional materials and solutions sector operating profit of 948 million euros, down 4%.

Ripa Mai: net profit of 182 million US dollars, down 48.74%

On July 24, Rampa (RPM) released its fiscal year 2017 (as of May 31, 2017), with revenues of $ 4.958 billion, up 3% year-on-year and net profit of $ 182 million US dollar, down 48.74% year on year.

Masco: net profit of $ 323 million, an increase of 20.43%

July 27, Masco (Masco) released in mid-2017 mid-year report. In the report period, sales were $ 3.834 billion, down 2.95% year-on-year; operating profit was $ 610 million, up 6.72% year-on-year; adjusted EBITDA was $ 676 million, up 4.59% year on year; net profit was $ 323 million, 20.43%. Among them, building decoration products (paint) sales of 1.158 billion US dollars, an increase of 4%.

Kansai paint: net profit of 522.6 million US dollars, an increase of 16.2%

On August 9, Kansai announced a 2018 fiscal year Q1 (April 1 – 30, 2017) performance, with sales of 894.16 billion yen, up 11.1% year on year; operating profit To 8.772 billion yen, an increase of 3.2%; operating profit of 10.893 billion yen, an increase of 15.6%; net profit of 5.888 billion yen, or about 526 million US dollars, an increase of 16.2%.

China Petroleum Representative Office Wang Shengzi in the “2017 Beijing – Moscow Silk Road economic and cultural exchanges and cultural dialogue,” the forum said that Russia will double the oil supply to China after one year.

He said: “As of May this year, Russia’s total oil supply to China reached 100 million tons a year after the amount will be doubled.”

“Our partner, Russian oil, is working to improve the infrastructure to increase the capacity of the oil pipeline,” added Wang Shengzi.

It is said that China’s “East Siberian-Pacific” oil pipeline project is underway, the construction period will be completed by the end of 2017.

NEW YORK (MarketWatch) – Asia’s acrylonitrile prices soared to $ 1680 a tonne (CFR Far East Asia), a record three and a half years, due to tight global supply this week. The last Asian acrylonitrile price hit the highest level was on February 3, 2015, was evaluated at $ 1,700 per tonne (CFR Far East Asia).

Extremely tight supply boosted the price of Asian acrylonitrile, and in recent weeks the combination of environmental problems between China and the United States unexpectedly compressed the output of acrylonitrile.

In the United States, the effects of tropical storm Harvey have forced the two major US acrylonitrile producers, Ascend Performance Materials and Inions Acrylonitrile, to announce their resistance to Texas acrylonitrile at the end of August and early September, respectively.

According to a source, Ascend Performance Materials has restarted its production process at its 454,000 t / yne acrylonitrile plant in Alvin, Texas, last week. But the market has said that since last year, the company’s acrylonitrile exports have been very limited, because the company has been in the distribution of acrylonitrile for the US domestic production of adiponitrile.

September 15, the Asian region p-xylene market closing price fell 4.5 US dollars / ton, the closing price of 817.5-819.5 US dollars / ton FOB Korea and 835.5-837.5 US dollars / ton CFR China.