Domestic chemical products in the second half of September

In the second half of September (9.15-9.28), the chemical market continued to maintain an upward trend, but the momentum for the rise was slightly insufficient, and there was a high level of shock in the later period. As of September 28, the chemical price index released by Chemical Online closed at 3780 points, an increase of 1.0%. Among them, there were 101 rising products, accounting for 63.1% of the total products; 36 falling products, accounting for 22.5% of the total products; 23 stable products, accounting for 14.4% of the total.

Propylene oxide and dimethyl carbonate: In the second half of September, the increase in propylene oxide and downstream was very impressive. During the statistical period, propylene oxide closed at 18,600 yuan (ton price, the same below), an increase of 20.8%. The rebound in PPG exports has led to a significant increase in the demand for propylene oxide. In addition, the supply of propylene oxide on the yard decreased, the Hongbaoli installation was shut down, and the Dagu installation was unstable, and the price continued to rise when the supply exceeded demand, setting a new high in five years. Driven by higher raw materials, downstream dimethyl carbonate and PPG closed up sharply, with increases of 32.4% and 10.9% respectively this month. In addition, the substantial increase in demand from the electrolyte industry also supports the rise of the dimethyl carbonate market.

Acrylic acid and esters: The acrylic acid and esters market continued to rise in the second half of September. Methyl acrylate, butyl acrylate, acrylic acid and ethyl acrylate closed up 10.6%, 9.4%, 9.3% and 8.4% respectively. The raw material propylene is slightly increased by 2.8%, which has a certain cost support for acrylic acid. From the perspective of supply and demand, the overall start of domestic acrylic acid was low, the supply of on-site circulation was reduced, and downstream demand increased slightly, export demand of some enterprises improved, market prices continued to rise, and downstream ester products followed the rise.

Butadiene: The butadiene market continued to improve in the second half of September, closing at 6,600 yuan at the end of the month, an increase of 8.2%. Butadiene's external disk trend was relatively strong, with a half-month increase of 19.4%, supporting domestic prices. At present, domestic low-priced butadiene supplies are limited, terminal tire companies' exports are picking up, and the November holiday is approaching, downstream stocks will be stocked in the market, further supporting butadiene growth. However, as the price of butadiene rises to a relatively high level, downstream purchasing enthusiasm will be suppressed.

Acetone and isopropanol: The acetone and isopropanol markets fell again in the second half of September, closing at 6,650 yuan and 7,650 yuan at the end of the month, a decrease of 11.0% and 8.9% respectively. Affected by the epidemic in the early stage, the surge in isopropanol export orders caused the price to rise sharply. After June, the market has been in a rational correction stage, and it is now close to the level before the surge. Recently, the demand for isopropanol has been weak, and overall transactions have been light. To stimulate shipments, manufacturers continue to lower their quotations. The raw material acetone showed the same trend, dragged down by the dismal demand for isopropanol, the price of acetone pulled back.

Acetonitrile: The acetonitrile market continued to decline in the second half of September, closing at 17,500 yuan at the end of the month, a decrease of 7.9%. Excessive price increases in the previous period have led to continued price corrections. Recently, the by-product method of acetonitrile has been started steadily, the operating rate of the synthetic method has increased, the market supply is very sufficient, and the price has been rationally adjusted. At present, the price of acetonitrile has gradually approached the price before the big increase in May.

Epichlorohydrin: In the second half of September, the epichlorohydrin market returned to a high level and closed at 10,450 yuan at the end of the month, a decline of 6.7%. The epichlorohydrin market in the early stage has risen to a relatively high level, and the cost of downstream epoxy resin is not smoothly passed on, and there is resistance to high-priced raw materials. In September, Shandong Minji's new production capacity started in a relatively stable manner. In the later stage, there is a possibility of trial run of Shandong Xinyue, Ningbo Zhenyang and other devices in October, and market supply will increase, which will continue to drag down prices.

Aromatics: In the second half of September, the aromatics market declined slightly. Solvent grade xylene, isomeric grade xylene, pure benzene and toluene fell 3.4%, 3.3%, 2.1% and 1.4%, respectively. Affected by the U.S. hurricane, international crude oil prices rose during the statistical period, but the inventory of aromatic products such as xylene was high at East China ports, and the recent commissioning of new Zhongke Refining and Chemical projects has increased market supply, resulting in a relatively low market.

Plastic resin: The plastic resin market was mixed in the second half of September. HDPE and LDPE closed down 2.3% and 1.0%, respectively. Wanhua Yantai's LLDPE plant and Sinochem Quanzhou's PE plant were put into production. The market supply has increased, but the downstream demand of the PE market is still acceptable. In addition to the festival approaching, middlemen and downstream replenishment have certain support to the market, which narrowed the overall decline. The PP market also declined slightly. Futures fluctuated downward and superimposed on the impact of new capacity such as Zhongke and Bora on the market trend, and market quotations fell 2.4%.

Polyester raw materials: The trend of polyester raw materials was weak in the second half of September. The PTA market closed at 3330 yuan at the end of the month, a decrease of 3.6%. The overall market performance is oversupply. In September, Fuhaichuang, Reignwood and other installations all resumed to full capacity, but downstream polyester manufacturers partially reduced production under the pressure of losses and high inventory, and the PTA market was under greater pressure. The ethylene glycol market also showed a downward trend, dragged down by the decline in downstream polyester operations, with a half-month decline of 4.4%.

In the second half of September, the chemical market continued to lack momentum, and prices at the end of the month declined slightly. Although international crude oil has risen strongly, the recent installations of Liaoning Baolai, Zhongke Refinery and Sinochem Quanzhou have been put into operation one after another, which has increased the supply of some products and restrained the trend of the chemical market. In the later stage, the new crown epidemic has not yet been effectively controlled, coupled with the increase in crude oil market supply, OPEC Secretary-General stated that crude oil inventories in the third quarter will be much higher than the five-year average, Russia will also increase production in the future, and the crude oil market faces downward risks. From the perspective of the demand for chemical products, October coincides with the long holiday of October. Some traders and manufacturers leave the market for holidays. Market transactions are gradually slack. It is expected that the chemical market will be adjusted mainly in the first half of October.