China's Chemical Market Fluctuates Slightly

As of November 17, China's domestic chemical product price index (CCPI) closed at 4752 points, an increase of 0.3%.

Among the important chemical products monitored, a total of 27 products increased, accounting for 43.5%. The products with the highest increase were acetonitrile (7.6%), phenol (6.5%) and soda ash (6.2%). There were also 27 products that decreased, accounting for 43.5%, the products with the highest declines were hydrogen peroxide (4.5%).

The acetonitrile market rose within a narrow range last week. The overall supply support of the acrylonitrile industry continued during the week, and the downstream market purchased on demand. The bidding prices of acetonitrile major manufacturers in East China rose slightly, and the market as a whole mainly followed the increase. It is expected that short-term acetonitrile price changes will be limited.

The phenol market is operating strongly. The release of production capacity of some newly built units during the week did not meet expectations; some shipping schedules were delayed in arriving at the port, and the port's spot supply was tight; the supporting role of the upstream pure benzene cost is still there, traders have a strong intention to support the market, and low prices are difficult to find; resistance emotions increase due to high prices of downstream, and the number of transactions is mainly due to demand. It is expected that the market outlook for phenol will mainly fluctuate within a narrow range.

The soda ash market rose steadily. The overall operating load of manufacturers has further declined during the week. Most manufacturers have sufficient orders this month and the overall inventory has dropped significantly. Downstream demand has not changed much, and the delivery situation of some downstream has improved, with appropriate replenishment in stages. It is expected that the short-term soda ash market will mainly consolidate within a narrow range.

Last week, the hydrogen peroxide market continued to bottom out. The supply and demand side in the north has a bullish and bearish game, and mainstream corporate quotations are stable; Jiangsu and Zhejiang and other places are operating weakly, with serious local oversupply, and market prices continue to decline. It is expected that the market outlook for hydrogen peroxide will be mainly weak.