Resin and bisphenol A chemical raw materials fell collectively!

Since December, the domestic silicone DMC market has shown a weakening trend. On December 23, the average price of silicone DMC was referenced at 29,000 CNY/ton. Compared with the price of 33333.33 CNY/ton at the beginning of the month, the average price was reduced by 4,333.33 CNY/ton. , A drop of 13%. Some companies closed the market again without quoting.

Chemical raw materials have taken a sharp turn, with a reduction of up to 5,000 CNY/ton

Near the end of the year, many companies are sprinting performance, and strive to draw a successful conclusion to the ups and downs of 2020. After many chemical products hit a new high for more than ten years in November, the price of December went down sharply. In less than a month, the price fell by more than 1,000 CNY/ton.

Isopropanol fell by 22.51%, and many orders were closed without reporting

Isopropanol was quoted at RMB 8033.33/ton on the 23rd, a decrease of RMB 2333.34/ton from RMB 10,366.67/ton at the beginning of the month, or 22.51%. Affected by overseas demand, many factories have closed orders without reporting. Jiangsu Zhonghu Chemical's latest offer is 8,000 CNY/ton, and the actual order will be discussed in detail. Affected by the fall in acetone, the price of isopropanol also followed the downward adjustment, the market was weak and the atmosphere in the market was relatively empty.

Phthalic anhydride fell 21.31%, close to the cost line

Phthalic anhydride was quoted at RMB 5862.5/ton on the 23rd. Compared with the 7450 CNY/ton at the beginning of the month, it decreased by 1587.5 CNY/ton, or 21.31%. Entering December, the phthalic anhydride market has continued to decline. In the past half month, the declines of o-methan and naphthalene phthalic anhydride have reached 20%, and o-phthalic anhydride is close to the cost line. Its direct negative factors come from the reduction of downstream demand and the accumulation of its own inventory.

Styrene fell by 21.07%, and the uncertainty of the epidemic brought bad news

Styrene was quoted at RMB 6,670/ton on the 23rd, down by RMB 1780/ton from RMB 8,450/ton at the beginning of the month, a decrease of 21.07%. After the mutation of the British new crown virus, the whole of Europe is "isolating" the UK. In the next two weeks, there will be great uncertainty in the macro wind direction in Europe and even the world. For most industrial products including styrene and crude oil, as well as the global major asset market, the negatives will be huge. On the whole, the short-term resonance between styrene and major assets has increased again.

Acetone fell 18.78%, cost support weakened

On the 23rd, acetone was quoted at 7675 CNY/ton, a decrease of 1775 CNY/ton from the 9450 CNY/ton quotation at the beginning of the month, a decrease of 18.78%. The restart of Ningbo Taihua's plant has resulted in an increase in the supply of phenol and ketone; the raw materials propylene and pure benzene have been adjusted down within a narrow range, and cost support has weakened; the terminal industry is affected by environmental protection, and the operating load has decreased and demand has been weak.

Bisphenol A plummeted 2640 CNY/ton, a drop of 14%

On the 23rd, bisphenol A was quoted at RMB 16,220/ton, a decrease of RMB 2,640/ton from RMB 18,860/ton at the beginning of the month, a 14% decrease. Nantong Xingchen BPA has been suspended for 3 consecutive days, mainly for contract users. At present, the market in East China continues to decline. BPA is mainly supplied by contract users in limited quantities, and export sales are limited. At present, prices in the East China market continue to fall broadly, and low-priced goods are constantly appearing in the market, and even an ultra-low price of 14,000 CNY/ton has been exposed.

Epoxy resin is lowered by 3,500 CNY/ton, with fewer stocks and orders mainly

On the 23rd, the liquid quotation was 26,250 CNY/ton, down by 3500 CNY/ton from 29,750 CNY/ton at the beginning of the month, a decrease of 11.76%. The current epoxy resin market demand is weak, and some importers sell goods. The price is messy and there is no mainstream reference. Liquid epoxy resin A single talk is the main focus, and there are also lower prices in the market. Some companies offer 24,500 CNY/ton for delivery in barrels. In terms of solid epoxy resin, it has fallen below 20,000 CNY/ton. Poor demand and weakening of favorable policies have caused the product to fall. The market for bisphenol A, a superimposed raw material, has plummeted, causing the cost of epoxy resin to lose support.

Butadiene fell 13%, export sales are limited, quotations suspended

On the 23rd, butadiene was quoted at 8635.56 CNY/ton, which was a decrease of 1,290.69 CNY/ton from 9,926.25 CNY/ton at the beginning of the month, a decrease of 13%. Many companies have installed parking, limited export sales, mainly for their own use, and even suspended quotations.

TDI is reduced by up to 5,000 CNY/ton, weak operation

Wanhua Chemical’s TDI listed price in December was 14,500 CNY/ton, and the November settlement price was 13,000 CNY/ton, down 3800 CNY/ton from the previous month. Shanghai BASF’s listing price in December 2020 was 15,000 CNY/ton, down 5,000 CNY/ton month-on-month, settlement in November was 13,000 CNY/ton, down 3900 CNY/ton month-on-month, and 160,000 tons of equipment would be shut down within a week, which is expected to last about 3 weeks. Subsequent supply is tight. At present, the TDI market is operating weakly, the atmosphere in the market is deserted, the enthusiasm for downstream inquiries is not high, and the market outlook is weak.

Neopentyl glycol is lowered by 600 CNY/ton, consumption of raw material inventory is a top priority

On the 24th, Wanhua Chemical’s neopentyl glycol (NPG) price was 14,800 CNY/ton in Shandong, 14,900 CNY/ton in East China, and 15,000 CNY/ton in South China, down 600 CNY/ton from the beginning of the month. The upstream price of isobutyraldehyde has fallen, and the neopentyl glycol manufacturers have less pressure on the market, and the overall market transaction center has fallen. The signal of neopentyl glycol peaking is more obvious. Some neopentyl glycol factories have begun to consume isobutyraldehyde inventory to reduce the cost pressure and risk caused by high-cost sources of production in the later period. In January, the domestic terminal coating companies reached the off-season, and most downstream companies did not plan to stock up before the year. The supply is expected to be greater than the market demand, and there is the possibility of inventory accumulation. Therefore, it is expected that the market may have a reasonable correction.

Demand weakened, operation was hindered, and the oil market was negative, pushing the chemical market back

At the end of the year, some raw materials will be adjusted downwards, bisphenol A, isopropanol, polysilicon, polymeric MDI, etc. will be reduced by about 2,000 CNY/ton, styrene, acetone, butadiene and other raw materials will be reduced by more than 1,000 CNY/ton, and some The price of raw materials is lowered at around RMB 100/ton. Although these declines are a far cry from the “skysurge” of the previous period, they are also reasonable for the special circumstances at the end of the year.

Some companies said that the most important thing at the end of the year is to pay back. After all, there are too many "black swans" this year, and with constant twists and turns, they are already unable to toss and just want to secure the new year. Even if the price drops a little, we must go to inventory to keep the capital chain. Another part of the companies said that the current price cuts have exceeded their expectations. The price cuts of up to 4,000 CNY/ton are "heartbreaking". For every ton sold, they lose more. We weigh the pros and cons. In the end, I chose to close the market and stop selling this kind of "insurance" measure, and want to wait until the market picks up before reopening. Some companies have even issued notices that the Spring Festival and New Year's Day will be combined early to close work and leave, and wait until after the Spring Festival to update prices on the market.