From yesterday,China traders selling offer in the mainstream market in mainland was pushed up. Till midday today, the market rose as high as 8.2%, the rapid pull up with a wave of late April is very similar to the rebound. So many marketers whispered, but also “short-lived” or “set of the road.” We compare these two bounce to analyze:
Bounce contrast
The factors affecting the acetone market are the supply and demand fundamentals, the rebound late April was determined by the near May holiday and centralized purchase of downstream users, but with the domestic factory inventory pressure, and consider the contractor, the factory down the price, and then The market mentality began to change, the rise lasted only about 3 days.
The rise is part of the domestic factory parking maintenance news, and some market participants to see the port inventory has dropped to 20,000 tons the following, while the external disk prices are high, the market immediately expected follow-up supply indentation, so the intermediary will enter the receipt Purchase period. The current spot concentration of the port, the big family immediately began to pull up the price, the rally is still continuing.
But is it really a rally? We do not think that the market rebound is completely unreasonable. Can only say that demand growth is not much, and short-term supply will not be tightened, I am afraid that this increase is untenable. Looking back at late April, it is thoughtful. Pre-Asian maintenance device has been restarted, and now the external disk prices and the domestic market upside down, the difference is 100 US dollars / ton, is still Asia to Europe arbitrage, profit is still better than China. But in May the port of the normal amount of the contract added in the 1.6-2 million tons. Yangzhou device plans to park about 15 days in the month, the Shanghai Sisa device has been planned to restart, some traders said that the quilt in the waiting set, also said that the market mentality is not entirely good. Downstream terminal industry can not see a complete improvement, especially the pharmaceutical and pesticide industry by environmental pressure.
Acetone market rebound trend is reasonable, but the gains were unexpected, the medium-term information that, although the late supply side tightening there is a certain support, but the time point of supply and demand balance has not yet arrived, is expected to quickly pull up or Short-term behavior, looking for points to digest, waiting for new news guidelines