Price trend:
| Melamine |
According to the data of the business club’s bulk list, the domestic ABS market continued to run strongly in November, and most of the spot prices in the market showed a strong trend. As of November 6, the mainstream offer price of general-purpose ABS was about 18450.00 yuan / ton, which was 5.43% higher than the average price at the beginning of the month.
Factor analysis:
ABS upstream styrene, domestic styrene market last month, the whole month’s upward trend gratifying. Affected by the strong demand, downstream enterprises shortened the shutdown period and scope during the National Day period, and the operating rate remained above 80%. The inventory of styrene production enterprises did not increase but decreased. At the end of October, the total inventory in East China was 237300 tons, showing an overall downward trend. In addition to the tight spot supply in South China, the supply of styrene in other regions was moderate. Supply is still expected to be tight in November, with high and stable demand and strong market mentality. At the same time, the downstream price goes up, pushing up styrene in reverse. Pure benzene inventory high, at the same time the demand is general, the recent price of styrene rose. Outside of the chemical industry, negative news. However, in the later stage, the imported goods were less, and the wharf continued to reduce the warehouse. It is expected that styrene will be strengthened in the near future.
In terms of acrylonitrile upstream of ABS, the raw material propylene weakened in October, and the current situation has recovered. The market sentiment of acrylonitrile is general. As for the far upstream crude oil, the fiscal scale stimulated by the US election may not be as large as expected, and the policy toward Iran may be relaxed, resulting in the recovery of crude oil supply and the fall of international oil price. In addition, overseas markets are worried about the rebound of the epidemic situation to restrain demand, and the cost side support of acrylonitrile is not ideal, and the operating rate of downstream acrylic fiber and other industries remains high. At present, there are enterprises overhauling and starting work, and the overall supply tends to be balanced, which is not good for the spot. It is expected that acrylonitrile will run smoothly in the near future.
| Bacillus thuringiensis |
In November, the domestic butadiene market was slightly weak. According to the sample data monitored by the business agency, the domestic butadiene market price remained at about 9200 yuan / ton at the beginning of this month. In October, affected by the higher profits of natural rubber futures, the price of synthetic rubber downstream of butadiene rose significantly. In the second half of this year, rubber demand recovered, and the downstream tire industry and rubber products industry of synthetic rubber gradually started to recover. The demand for synthetic rubber formed a support, and the whole industrial chain was favorable for linkage. At present, the sentiment of butadiene market is slowly digesting and finishing at a high level. The rise in the external market supports the domestic spot price. The northern spot supply is sufficient, and the downstream takes the goods at a low price, and the prices of some manufacturers are slightly weakened. It is expected that the market in the near future will be mainly organized.
At present, the domestic ABS market price continues in the peak season, and the spot price continues to rise. The prices of the three upstream materials are up and down, and the overall cost support is temporarily stable. In terms of supply, domestic ABS supply is still tight in general, and the rise in East China may slow down due to large arrival volume. The consumption of major domestic appliance enterprises and automobile industry has remained stable, and the market demand has a certain foundation. The resistance of the downstream to high price goods sources has been aggravated, and the recent domestic ABS spot price increase is fair.
Future forecast:
Business agency analysts believe: in early November, ABS market remained positive, prices of various brands continued to rise. Cost side of the upstream three materials overall narrow range of rise, the ABS cost side of the support is more stable. At present, ABS spot supply is still tight, downstream demand is temporarily stable, there is a psychological resistance to high price goods, and some profit margins have slowed down. ABS is expected to slow down in the near future.
| Azodicarbonamide (AC foaming Agent) |