Under the impact of negative oil prices, chemical market retreated early gains

In April, with the continuous promotion of various policies for stabilizing the recovery of work and demand, various industries of the downstream terminal of petrochemicals have significantly improved compared with the previous period, and the start-up load and operation are in the improvement stage. Consumption rebounded and market confidence gradually returned. On April 20, the history of US crude oil futures fell to a negative value for the first time, and the intraday decline was once over 300%, with a minimum of -40.32 dollars per barrel. The collapse of crude oil has inhibited the purchase intention of domestic terminal companies. Petrochemical products are also in line with the trend of crude oil. Under the impact of negative oil prices, domestic bulk commodity futures and chemical products have suffered a severe setback, making the already prosperous chemical product market boom Back to the down track again.

This week, there were 12 rising products and 18 falling products. The top three products were acetone, acetic acid, and glycerin, the increases were 16.1%, 11.63%, and 9.09%; the top three products were isobutanol and n-butanol , DBP, the declines were -13.04%, -12.93%, -12.86%.

Acetone: The acetone market continued to push up this week, with a weekly increase of about 1,000 yuan. Due to the lack of recent arrivals at the port during the week, inventories quickly digested to low levels. The market was reluctant to sell, and the offer was pushed up one after another. The factory also took the opportunity to make up the offer.

Acetic acid: The acetic acid market continued to increase this week. At present, the inventory of the acetic acid plant has dropped to a low level, and the number of maintenance companies has increased. Jiangsu Thorpe and Celanese have stopped for maintenance, and later Hebei Jiantao, Shaanxi Yanchang and Shanghai Huayi have longer parking plans, and are also approaching by the May Day holiday. The market needs to replenish stocks in advance, and the fundamentals of supply and demand are clearly supporting, and prices continue to rise.

N-butanol / isobutanol: The domestic market of n-butanol and isobutanol continued to plunge once this week, polypropylene futures plunged, propylene plunged continuously, the market speculation cooled down, and this week crude oil fell to a historic negative level, the market was negative The pressure continued to rise, and the decline once again expanded.

DBP: The domestic DBP market has poor terminal demand, poor market inquiries and purchases, large shipping resistance, propylene fell sharply at the beginning of the week, raw material market prices have fallen, DBP market costs have fallen, and new factory spot prices have greatly facilitated shipments The cost-side transmission weakened and prices fell.