Chemical Market Turmoil: Sulfuric Acid Soars 8%, Urea Plummets 4.4%, Highlighting Market Volatility

On August 4th, the China National Bureau of Statistics officially released detailed information on the changes in market prices of important production materials in the circulation sector in late July this year. Through in-depth monitoring of the market prices of 50 key production materials in 9 major categories across the country's circulation sector, we have drawn the following conclusions:

Compared to mid-July, during the late July period, the market prices of 13 products increased, 36 products saw a decline, and 1 product remained relatively stable. It is worth noting that in the chemical products market, the price change trend is predominantly characterized by a decline, with a smaller upward trend.

Specifically, in the field of chemical products, the ton price of 98% sulfuric acid rose to 447 yuan in late July, an increase of 33 yuan or 8% compared to early July, exhibiting a strong upward momentum. However, at the same time, the ton price of 32% caustic soda (liquid) fell by 11 yuan, a decrease of 1.3%, presenting a market trend that is completely different from that of sulfuric acid. Additionally, the ton price of 99.85% methanol also experienced a decrease of 33.2 yuan, a 1.4% drop; the ton price of grade-1 styrene also declined, with a 1.6% decrease of 154.2 yuan; the ton price of polypropylene (fiber-grade) also fell by 67.7 yuan, a 0.9% decrease; and the ton price of SG5 polyvinyl chloride also decreased by 63.1 yuan, a 1.1% drop.

Furthermore, the ton price of medium and small particle urea also showed a significant decline, dropping 101.7 yuan or 4.4% from the previous level, indicating a sluggish market demand. However, the ton price of 45% NPK compound fertilizer (sulfate of potash compound fertilizer) achieved a slight increase of 0.4% or 11.9 yuan, bringing a glimmer of warmth to the market. Additionally, the ton price of 95% technical grade glyphosate also saw a small increase of 0.2% or 44.6 yuan, although the increase was not substantial, it did inject some vitality into the agricultural chemical market.

The changes in the market prices of important production materials in the circulation sector in late July presented a complex situation, with both increases and decreases, and the performance of the chemical products market was particularly noteworthy.

Note: Last period is mid-July 2024.