1、 Price trend of epichlorohydrin

(Figure: p-value curve of epichlorohydrin product)

2、 Market analysis

Recently, the market price of epichlorohydrin has been stable, but it has dropped. The market is mainly stable, and the quotations of some enterprises have declined slightly. According to the data of business news agency’s block list, as of April 22, the average quoted price of epichlorohydrin enterprises was 16166.67 yuan / ton, down 1.82% compared with the price at the beginning of the week, up 27.63% compared with the price on April 1, and up 34.72% compared with the price on March 22.

Recently, the price of propylene continues to rise, the price of glycerol is relatively strong, and the supply side is relatively tight, which supports the high-level operation of epichlorohydrin market. However, with the increasing resistance of downstream to high price raw materials, the purchasing enthusiasm is weakened, the epoxy resin start-up in some regions is low, the market follow-up persistence is insufficient, the delivery pressure of the carrier is under pressure, and the market negotiation center is stable and weak, At present, the mainstream quotation of epichlorohydrin market in Shandong is around 16000-16300 yuan / ton.

As of April 21, the market price of propylene in Shandong still rose slightly. According to the price chart of the business association, the price of propylene decreased sharply in the second half of March and rose at the end of the month. At the beginning of April, the market price rose slowly, with an average daily increase of about 50 yuan / ton. From the 6th, the price rose steadily, and from the 16th, the price rose steadily at the rate of 50 yuan / ton again. Now, the market transaction is between 8550 yuan / ton and 8650 yuan / ton, and the mainstream price is about 8550 yuan / ton. On April 20, the external market of propylene in the United States dropped significantly again, which may have a certain impact on the domestic market. Propylene prices in Asia have been rising slightly in recent days, which has little impact on the propylene market. Propylene market is now no pressure inventory, part of the device is still in repair. The supply of goods in Shandong is a little tight.

On April 22, East China liquid epoxy resin market was put into operation. The mainstream negotiation price reference was around 39500-40500 yuan / ton. There was a strong wait-and-see atmosphere in the downstream.

3、 Future forecast

Business community epichlorohydrin analysts believe that, on the whole, there is some support from the cost side and the supply side, but the support from the demand side is weak, and the market atmosphere is stalemate. It is expected that in the short term, the epichlorohydrin market will be mainly stable, with a narrow range of shocks. More attention should be paid to market information guidance.

According to the monitoring data of the business news agency, since April, hydrogen peroxide has continued to rise after bottoming out. At the beginning of the month, the market fell by more than 3%, and began to rise in the middle of the month, with an increase of more than 11%. As of April 21, the average market price of hydrogen peroxide was 1110 yuan / ton, up 7.07% from the beginning of April.

According to the weekly rise and fall chart of hydrogen peroxide from January 2021 to April 8, 2021, it can be seen that the hydrogen peroxide market continued to decline in the first quarter of 2021, with a maximum weekly decline of more than 11%. In the first ten days of March, hydrogen peroxide began to rebound, with the highest weekly increase of nearly 5.8%. After the sharp rise, it began to plunge into the market. By the middle of April, hydrogen peroxide hit the bottom and rebounded again, and continued to rise for more than half a month, up as high as 11%.

On April 21, some domestic hydrogen peroxide manufacturers quoted as follows:

Luxi Chemical hydrogen peroxide quoted 1080 yuan / ton, 150 yuan / ton higher than that at the beginning of April; Hebei Zhengyuan fertilizer hydrogen peroxide quoted 1080 yuan / ton, 180 yuan / ton higher; Anhui Quansheng chemical hydrogen peroxide plant shut down, no quotation, Anhui Jinhe hydrogen peroxide quoted 1400 yuan / ton.

Hydrogen peroxide market rises due to tight supply

Since the middle of April, the purchasing demand of terminal paper industry has increased. In addition, the hydrogen peroxide plant of Anhui Quansheng has been shut down for maintenance. Due to the low inventory and tight supply of hydrogen peroxide plant, the factory price has been continuously increased. As of April 21, the price of hydrogen peroxide has been quietly rising for more than a week, up as high as 11%. Although the terminal caprolactam market is weak and stable, the paper industry market also slows down, and the hydrogen peroxide Market is suppressed to a certain extent. Due to the low inventory and the price support of manufacturers, the hydrogen peroxide Market is still strong.

Li Bing, hydrogen peroxide analyst of business news agency, thinks: the May Day holiday is coming, the terminal stock market is over, Quansheng is expected to start at the end of the month, the supply will increase, and the hydrogen peroxide market may weaken in the future.

According to the price monitoring of the business agency, the domestic spandex market has been running at a high level recently, and the overall quotation of the factory has not changed much. The supply of some goods is still tight. At present, the average price of 40d specification is 67600 yuan / ton, up 107.36% year on year. About 90% of the spandex industry started, and the downstream end market continued to meet the demand. The actual transaction can be negotiated.

Current mainstream price statistics of spandex market (unit: yuan / ton)

20D 30D 40D

Zhejiang Province: 83000-85000 73000-75000 63000-65000

Shandong: 83000-86000 74000-76000 63000-66000

Fujian: 83000-86000-74000-76000-64000-68000

Jiangsu Province: 83000-85000 73000-75000 63000-66000

The raw material market of PTMEG is stable, with 760% of the start-up of the industry. There are some equipment overhauls, and the inventory pressure of the factory is not big. The 1800 molecular weight supply is around 43000 yuan / ton offered by the mainstream factory, and the actual order negotiation can refer to 42000-43000 yuan / ton. The pure MDI industry started 80% and remained unchanged. The market situation was sorted out and operated, and the transaction situation was poor. The local market negotiated to pay 21500-22000 yuan / ton by telegraphic transfer in barrels.

Changes of domestic PTMEG manufacturers

Enterprise name: production capacity (10000 tons / year)

Jiaxing Xiaoxing is scheduled to be overhauled in April

Hangzhou Sanlong power plant has been restarted

Yizheng Dalian: long term parking

The operating load of Panjin Changchun is not high at 6

Spandex plant start-up to maintain a high level, part of the coarse denier supply stability, and even some inventory. The raw material market is weak, the supporting role of the cost side is general, downstream customers buy on demand, and the overall market outlook atmosphere remains unchanged. Business community analysts expect that the spandex market will still maintain stable operation in the short term.

Trend analysis

According to the data monitoring of the business association, the domestic cobalt market fluctuated and adjusted in April, and the overall cobalt price continued to fall. As of April 19, the price of cobalt was 345000.00 yuan / ton, down 2.17% from 352666.66 yuan / ton at the beginning of the month (April 1).

New energy vehicle market

According to the data released by China Automobile Association, in March, the production and sales of new energy vehicles in China were 216000 and 226000 respectively, with a year-on-year increase of 2.5 times and 2.4 times respectively. From January to March, the production and sales of new energy vehicles in China were 533000 and 515000 respectively, with a year-on-year increase of 3.2 times and 2.8 times respectively. The production and sales of new energy vehicles have increased greatly, which is good for the future market of cobalt market.

In terms of power battery output: in March 2021, the output of ternary battery was 5.8gwh, accounting for 51.6% of the total output, with a year-on-year growth of 79.6% and a month on month growth of 13.7%; the output of lithium iron phosphate battery was 5.4gwh, accounting for 48.3% of the total output, with a year-on-year growth of 341.3% and a month on month growth of 26.1%. From January to March, the cumulative output of ternary battery was 17.8gwh, accounting for 54.3% of the total output, with a year-on-year cumulative growth of 211.6%; the cumulative output of lithium iron phosphate battery was 15.0gwh, accounting for 45.6% of the total output, with a year-on-year cumulative growth of 487.1%. In terms of sales volume, in March 2021, the sales volume of ternary battery was 4.3gwh, up 141.4% year on year, accounting for 47.9% of the total sales volume; the sales volume of lithium iron phosphate battery was 4.6gwh, up 270.3% year on year, accounting for 52.0% of the total sales volume. From January to March, the cumulative sales of ternary battery was 12.7gwh, with a year-on-year cumulative growth of 170.1%; the cumulative sales of LiFePO4 battery was 11.1gwh, with a year-on-year cumulative growth of 246.4%. Power battery production and sales rose sharply, which was good for the cobalt market, but the growth rate of LiFePO4 battery production and sales was significantly higher than the overall growth level of the industry, and the growth rate of ternary battery fell, which was bad for the future cobalt market.

MB cobalt price

Time ﹣ category ﹣ specification ﹣ lowest price ﹣ rise and fall ﹣ highest price ﹣ rise and fall ﹣ unit

April 1, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb

April 1, 2021 – alloy grade cobalt 22.5 0 23.3 0.3 USD / lb

April 6, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb

April 6, 2021 – alloy grade cobalt 22.5 0 23.3 0 USD / lb

April 7, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb

April 7, 2021 ﹣ alloy grade cobalt ﹣ 22.5 ﹣ 0 ﹣ 23.3 ﹣ 0 ﹣ USD / lb

April 8, 2021 – standard cobalt 22.25 – 0.25 – 23.0 USD / lb

April 8, 2021 – alloy grade cobalt 22.25 – 0.25 – 23 – 0.3 USD / lb

April 9, 2021 ﹣ standard cobalt ﹣ 22 – 0.25 ﹣ 22.6 – 0.4 ﹣ USD / lb

April 9, 2021 – alloy grade cobalt 22 – 0.25 – 22.6 – 0.4 USD / lb

April 12, 2021 ﹣ standard cobalt ﹣ 21.7 – 0.3 ﹣ 22.5 – 0.1 ﹣ USD / lb

April 12, 2021 – alloy grade cobalt 21.7 – 0.3 – 22.5 – 0.1 USD / lb

April 13, 2021 ﹣ standard cobalt ﹣ 21.7 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 13, 2021 ﹣ alloy grade cobalt ﹣ 21.7 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 14, 2021 ﹣ standard cobalt ﹣ 21.5 – 0.2 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 14, 2021 ﹣ alloy grade cobalt ﹣ 21.5 – 0.2 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 15, 2021 ﹣ standard cobalt ﹣ 21.5 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 15, 2021 ﹣ alloy grade cobalt ﹣ 21.5 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb

April 16, 2021 ﹣ standard cobalt ﹣ 21.4 – 0.1 ﹣ 22.4 – 0.1 ﹣ USD / lb

April 16, 2021 – alloy grade cobalt 21.4 – 0.1 – 22 – 0.5 USD / lb

According to the statistical data of MB cobalt price, MB cobalt price fluctuated and fell in April, and the international cobalt market continued to fall, which was bad for domestic cobalt market, and the domestic cobalt market was under great downward pressure.

Market Overview

Bai Jiaxin, data analyst of business news agency, believes that the new energy vehicle market continues to rise, which has a certain positive support for the demand of cobalt market. However, the growth rate of ternary battery has declined, and the demand of cobalt Market in the future may not be as expected. The price of cobalt salt has continued to fall recently, increasing the pressure on the decline of cobalt price; the international cobalt price has continued to fall, and the international cobalt market is weakening. Generally speaking, the cobalt market still has upward support, but the demand of the cobalt market may be less than expected, and the supply and demand of the cobalt market may still maintain oversupply. There is room for the cobalt price to rise in the future, but the rising power is insufficient. It is expected that the cobalt price will fluctuate and stabilize, and the cobalt price may fluctuate and adjust between 320000-350000 yuan / ton.

1、 Price trend

The price of aniline continued to decline this week, according to the data of the business club’s block list. On April 11, the price of aniline in Shandong was 11000-12900 yuan / ton, and that in Nanjing was 11700 yuan / ton. On April 18, the price of aniline in Shandong was 10200-10500 yuan / ton, and that in Nanjing was 10500 yuan / ton.

2、 Analysis and comment

In terms of cost, this week, pure benzene followed the trend of styrene, falling first and then rising. At the beginning of the week, the decline of styrene led to the weakening of pure benzene in East China. In the second half of the week, styrene futures rebounded. The spot supply of styrene in some areas was tight, and the price rose, while pure benzene rose. This week, the port is still in the channel of destocking. Although the speed of picking up goods is slowing down, the number of new arrivals is less. This week, Sinopec’s price of pure benzene was increased by 150 yuan / ton to 6850 yuan / ton, which strengthened the bottom support and boosted the market mentality. On Sunday (April 18), the price of pure benzene was 6750-6950 yuan / ton (the average price was 6820 yuan / ton), which was 156 yuan / ton or 2.34% higher than that of last week, and 103.58% higher than that of the same period last year.

The price of nitric acid this week was flat compared with last week. On Friday (April 16), the production price of nitric acid in East China was 2233.33 yuan / ton, up 8.94% compared with the beginning of the month and 47.25% compared with the same period last year.

The price difference between aniline and cost side is wide, which is less affected by the fluctuation of cost side. Market supply and downstream demand are the main factors affecting the price of aniline. Aniline prices continued to fall this week. Aniline plant operating rate is high, the market supply is sufficient, the enterprise price reduction row inventory. Aniline prices fell, driving the downstream follow-up turned positive, the second half of the week to maintain horizontal consolidation.

3、 Future expectation

In terms of cost, Sinopec’s high price supported the pure benzene market. Next week, the downstream styrene plant will be restarted, which will support the demand for pure benzene. Overall, short-term pure benzene prices continue to follow crude oil, styrene price fluctuations, prices firm. Continue to pay attention to the downstream market, domestic and foreign pure benzene plant trends, crude oil, the impact of external market trends on the price of pure benzene.

Another 100000 t / a aniline plant in Jinling Dongying was restarted, and the market supply of aniline in Shandong is expected to continue to increase; the 30000 T / a aniline plant in Yangnong, Jiangsu was shut down for maintenance at the weekend, and the supply in East China is expected to decrease. Overall, the market is cautious and wait-and-see, aniline may still maintain a weak and stable trend next week. Pay attention to whether there is a purchasing plan in the downstream of the coming May Day holiday. Continue to pay attention to the trend of raw materials, the follow-up of downstream demand and the impact of aniline plant dynamics on aniline price.

This week (4.12-4.16) the market of NBR was slightly weak. According to the monitoring of business community, as of April 16, the price of NBR was 22633 yuan / ton, slightly down 0.29% compared with the price of 22700 yuan / ton at the beginning of the week.

The ex factory price of NBR in China is mainly stable. According to the monitoring of the business agency, as of April 16, the ex factory price of NBR of Lanzhou Petrochemical Co., Ltd. was stable: at present, the price of n41e was 19600 yuan / ton; that of 3305e was 21200 yuan / ton; that of 3308e was 21600 yuan / ton. At present, the mainstream quotation of NBR n41e market is around 18800-19300 yuan / ton, and the quotation of South Korea lg6250 market is around 20500-21000 yuan / ton.

After the sharp drop in raw material prices, there was a slight rise this week, and the cost side may stop falling this week. According to the monitoring of the business association, as of April 16, the butadiene price was 6696 yuan / ton, up 2.90% from 6507 yuan / ton at the beginning of the week, and down 14.80% from March 31.

Future forecast: NBR analysts believe that since the end of March, raw material prices have rebounded sharply, downstream inquiries are light, and NBR offers may fall slightly in the short term.

1、 Price trend

According to the data monitoring of Business News Agency: on April 15, the average price of domestic LNG was 3390 yuan / ton, down 2.68% compared with the previous day, up 1.19% month on month, and up 4.2% compared with the same period last year.

2、 Analysis of influencing factors

On April 15, the domestic liquefied natural gas market was down by 2.68% in a single day. Shaanxi, Shanxi, Inner Mongolia, Ningxia and other places fell collectively, with different declines. The overall downward trend of the market was obvious, with profits plummeting and hovering near the cost line. With the end of the heating period in northern China, the market officially entered the off-season, the support of the demand side gradually declined, the early maintenance and other favorable factors were exhausted, and the weak market became normal. At the same time, recently, the price reduction of imported gas was too large, which suppressed the domestic market. The sales pressure of domestic liquid plants was large, and near the May Day holiday, the traffic of dangerous chemical vehicles on expressways would be restricted, and most of the manufacturers Continue to reduce prices shipping, industry bearish mentality. At present, the market supply is sufficient, the demand continues to be weak, the contradiction between supply and demand may increase, the liquid price is mainly low consolidation, and there is still a downward expectation.

On April 15, the domestic liquefied natural gas market was down, with 3300-3500 yuan / T in Inner Mongolia, 3320-3600 yuan / T in Shaanxi, 3350-3600 yuan / T in Shanxi, 3390-3470 yuan / T in Ningxia, 3550-3660 yuan / T in Henan and 3120-3150 yuan / T in Hebei.

Date of quotation (yuan / ton)

Inner Mongolia LNG 3300-3500 April 15

April 15, 2015

Shanxi ﹣ LNG ﹣ 3350-3600 ﹣ April 15

Ningxia LNG 3390-3470 April 15

Hebei Liquefied Natural Gas Co., Ltd. 3120-3150 April 15

Henan Province ﹣ liquefied natural gas ﹣ 3550-3660 ﹣ April 15

Downstream products are mixed:

Recently, the domestic methanol spot market rose slowly. According to the monitoring of the business society, as of April 14, the average price of domestic methanol manufacturers in Shandong was 2370 yuan / ton, with a month on month decrease of 3.27% and a year-on-year increase of 32.40%. Due to the low inventory and limited supply of goods, the prices of some production enterprises in Northwest China keep rising, while those in inland China keep rising.

Urea: on April 15, the urea market in Shandong Province was temporarily stable. The reference price of urea was 2113.33, which was 2.61% lower than that on April 1 (2170.00). At present, the purchase of agricultural demand is cautious, the industrial demand is used as it is purchased, and the urea supply is acceptable. It is expected that the domestic urea market will fluctuate slightly in the short term.

Dichloromethane. On April 14, the reference price of dichloromethane was 3823.33, up 2.14% compared with that on April 1 (3743.33). At present, there is little pressure on the supply side, supported by cost and demand side. It is expected that the price of dichloromethane will rise slightly in the future.

3、 Future forecast

LNG analysts of business news agency believe that: at present, affected by the off-season consumption, the downstream demand has declined, the market transaction is general, coupled with the low price pressure system of import, the manufacturers have greater sales pressure, and the continuous price reduction and shipment operation has been hovering near the cost line, and near the May Day holiday, the manufacturers have the expectation of price reduction and inventory arrangement, and there are many bad factors, so it is expected that the LNG market will continue to expand in the short term Market may continue to fall, but the decline is limited.

According to the price monitoring of the business community, since April, the domestic spandex market has maintained a high and stable operation, and the factory quotation has not changed. The average price of 40d specification is 67600 yuan / ton, up 107.36% year on year. Spandex industry started around 90%, high level operation, market supply is basically stable, individual batch number is still tight. Downstream terminal market just need to buy, cautious view of the market.

Current mainstream price statistics of spandex market (unit: yuan / ton)

20D 30D 40D

Zhejiang Province: 83000-85000 73000-75000 63000-65000

Shandong: 83000-86000 74000-76000 63000-66000

Fujian: 83000-86000-74000-76000-64000-68000

Jiangsu Province: 83000-85000 73000-75000 63000-66000

The overall focus of the raw material market PTMEG market is upward, 1800 molecular weight goods are supplied by mainstream factories, the offer is around 43000 yuan / ton, the actual order negotiation is about 42000-43000 yuan / ton, the industry starts 76%, and some devices are overhauled. The pure MDI industry started 80% of the time, insisted on sorting out, the market mainstream quotation fell steadily, the traders accompanied the shipment, the downstream small order procurement, the local market negotiation in 21500-22000 yuan / ton wire transfer barreled self pick-up.

Insufficient order follow-up of downstream textile enterprises is a prominent problem. The terminal market just needs to purchase is a little difficult. The round machine field starts 5.5-60%, and the warp knitting field starts 70%. Watch the market carefully.

Business analysts believe that the current spandex market trend changes little. Some spandex manufacturers have accumulated storage, but the overall level is still low, and some manufacturers are slightly tight, tight goods and high prices. The cost pressure of raw material market still exists, the demand follow-up is sluggish, the upstream and downstream continue to play games, in the short term, the price of spandex is temporarily stable and mainly wait-and-see.

1、 Price trend

The price of calcium carbide in the northwest fell this week. This week, the average ex factory quotation price of the mainstream calcium carbide manufacturers in Northwest China dropped from 4200.00 yuan / ton at the beginning of the week to 4000.00 yuan / ton at the end of the week, down 200 yuan / ton, or 4.76%, up 58.10% over the same period last year. Overall, the calcium carbide market fell this week, with the commodity index of 104.80 on April 9.

2、 Trend analysis

From the manufacturer’s quotation, the ex factory price of calcium carbide in Northwest China fell this week: oviganone’s quotation of calcium carbide this weekend was 3900 yuan / ton, down 450 yuan / ton compared with the beginning of the week; Inner Mongolia Zoomlion’s quotation of calcium carbide this weekend was 4000 yuan / ton, down 250 yuan / ton compared with the beginning of the week; Ningxia Xingping’s quotation of calcium carbide this weekend was 4100 yuan / ton, up 100 yuan / ton compared with the beginning of the week .

From the perspective of the upstream and downstream industrial chain of calcium carbide, the price of raw materials in the upstream market was low and consolidated this week. The quotation of small material is 670 yuan / ton this weekend, which is temporarily stable compared with the beginning of the week; that of medium material is 710 yuan / ton this weekend, which is temporarily stable compared with the beginning of the week; that of large material is 720 yuan / ton this weekend, which is temporarily stable compared with the beginning of the week. The price of raw materials in the upstream is low and the cost support is general, which has a negative impact on the price of calcium carbide.

Downstream market, PVC factory prices rose slightly this week. PVC quotation increased by 1.49% from 8750.00 yuan / ton at the beginning of the week to 8880.00 yuan / ton at the end of the week. Compared with the same period last year, it increased by 57.17%. This week, PVC prices rose slightly, the market is good, downstream calcium carbide purchasing enthusiasm increased, overall, this week’s PVC market has a positive impact on calcium carbide prices.

3、 Future forecast

In the middle of April, the market of calcium carbide fluctuated slightly and fell mainly. The price of raw material orchid charcoal was low and the cost of calcium carbide was generally supported. Although the downstream PVC market has risen slightly recently, large foreign PVC factories have resumed work, and domestic PVC construction has declined. In the future, it is predicted that the price of calcium carbide in Northwest China may drop slightly in mid April.

1、 Price trend

According to the data of the business club’s block list, pure benzene rose continuously in the first half of this week, and the price fell slightly in the later period. On April 4, the price of pure benzene was 6450-6650 yuan / ton (average price was 6520 yuan / ton), on Sunday (April 11), the price of pure benzene was 6373-6850 yuan / ton (average price was 6664 yuan / ton), the average price increased 144 yuan / ton or 2.21% compared with last week, and 109.56% compared with the same period last year.

2、 Analysis and comment

This week, pure benzene rose first and then fell with the trend of styrene, and the port inventory of both decreased. This week, the inventory of pure benzene in East China port continued to decline, with only a few new arrivals. The port is still in the channel to the warehouse, and the domestic supply is tight. This week, Sinopec’s price of pure benzene was raised by 200 yuan / ton to 6700 yuan / ton, and the bottom support was stronger.

In terms of external market, this week’s external market rose first and then fell. On Friday (April 9), the reference price of pure benzene in South Korea market was 861.67 US dollars / ton, up 5 US dollars / ton or 0.58% compared with April 2, and the import reference price in East China was 875 US dollars / ton, up 10 US dollars / ton or 1.16% compared with April 2.

Crude oil, this week’s crude oil long short game, price shocks. Good news: US commercial crude oil inventory fell, China and US economic data were strong; bad news: OPEC + decided to gradually increase crude oil production, and the epidemic situation in Europe and other places was severe. On April 1, Brent rose 0.08 USD / barrel, or 0.13%; WTI fell 2.13 USD / barrel, or 3.46%.

Downstream: styrene: this week, the price of styrene rose first and then fell, which was lower than that of last week. On April 11, the price of sample enterprises was 8833.33 yuan / ton, which was 2.03% lower than that of last week; the price was 70.42% higher than that of the same period last year. Crude oil fluctuated strongly, pure benzene and ethylene prices rose, and cost support was good; port inventory was still declining, and new production capacity was offset by device maintenance; domestic supply increment was limited, and spot was tight, which supported the high price of styrene. However, the downstream has a resistance to high price styrene. Although the operating rate rises collectively, the terminal is still in a wait-and-see state, and the purchase is just needed, and the transaction is sluggish.

Aniline: the price of aniline fell this week. The price of downstream polymerization MDI and rubber additives fell, the profit margin narrowed, the resistance to high price aniline was strong, and the demand remained rigid. Jinling Dongying and Huatai aniline plants restart, market supply increases. Under the pressure of long and short market, aniline is in a weak position. On April 11, the price of aniline was 11000-12900 yuan / ton in Shandong and 11700 yuan / ton in Nanjing, down 6.15% from last week and 142.38% from the same period last year.

3、 Future forecast

In terms of crude oil, although OPEC + decided to increase production, the market is still optimistic about the future demand prospect of oil market, and crude oil inventory may gradually enter the process of depolarization in the second quarter. Biden’s Government previously launched a $1.9 trillion stimulus plan, and is currently brewing $2.3 trillion in infrastructure stimulus measures. With the acceleration of vaccination in Europe, the economy will gradually enter the recovery track.

Downstream: styrene, the main downstream product: in terms of cost, crude oil is expected to pick up in the future. On the supply side, in April, there were more maintenance of domestic styrene plants, and the new production capacity will be offset by the reduced production capacity. Domestic supply may increase limited, and the pressure is not big. In addition, the import volume of terminals will maintain the low level of the contract. On the demand side, although the overall operating rate of the downstream has picked up, the terminal is still in a wait-and-see state, and the demand for styrene remains rigid, and the demand side has not recovered. It is expected that styrene will still run with strong vibration in the short term.

In the later stage, the arrival quantity of pure benzene is still limited, but the speed of port delivery is expected to slow down. Sinopec’s inventory is tight and its price is expected to be firm. The price trend of pure benzene is still greatly affected by crude oil and styrene. With the entry of new styrene plants, the demand for pure benzene has a certain support. On the whole, the price of pure benzene will be able to move up next week. Continue to pay attention to the downstream market, domestic and foreign pure benzene plant trends, crude oil, the impact of external market trends on the price of pure benzene.