In June, the prices of two major raw materials of polyester resin for powder coatings rose again

Recently, under the positive promotion of the centralized maintenance of the butanol plant, the enthusiasm of downstream procurement and stocking has been stimulated. It is expected that with the support of the subsequent maintenance, there is still room for further exploration of isobutyraldehyde.
Overhaul is good for concentration

Isobutyraldehyde starts rebound mode again

In the second week of June, the price of isobutyraldehyde started to increase. As of June 8th, the price of isobutyraldehyde in the East China market rose to 17,300 CNY/ton, which was higher than the price at the beginning of the month (15,900 CNY/ton on June 1). 1400 CNY/ton, an increase of 8.8%.

Strong cost support,
Neopentyl glycol prices rebound

At the same time, after a wide decline in the domestic neopentyl glycol market price at the end of May, the focus of the transaction rose steadily, and the price showed signs of a slight rebound. As of June 8th, as of June 8th, the negotiated price of domestic hydrogenation French goods in East China is 19,500-19,800 CNY/ton, which is 600 CNY/ton higher than that at the beginning of the month (19,000 CNY/ton on June 1). Tons, an increase of 3.15%; domestic disproportionation method prices to 19,000-19,300 CNY/ton.

Since the Spring Festival, with the continuous rise in the price of isobutyraldehyde, the market price of neopentyl glycol has gradually been driven to rise, and the price rose to a peak of 21,000 CNY/ton in May.
In late May, isobutyraldehyde once plunged to 15,000 CNY/ton, but only two weeks later, isobutyraldehyde rebounded again. Since the beginning of this week, the benefits of factory maintenance have been realized one by one, which has once again formed a favorable support for the supply of isobutyraldehyde. However, in the face of the terminal industry entering the summer, the changes in market outlook gradually tend to be flat, thus accepting the sharp fluctuations in raw material prices. More limited.

Looking at neopentyl glycol again, the start-up load of the Daqing trine neopentyl glycol plant has been reduced due to insufficient upstream isobutyraldehyde output. The factory orders have been placed until mid-June. After the substantial adjustment of isobutyraldehyde, 15,000 CNY/ton Isobutyraldehyde has a high intention to deliver neopentyl glycol orders of more than 20,000 CNY/ton, and the additional external procurement of Daqing Trimer has brought more effective bottom support to isobutyraldehyde.

At present, the orders of neopentyl glycol plants have been continuously delayed, and there is no pressure on shipments; the price of raw material isobutyraldehyde has quickly entered the upward channel, and the raw material inventory of downstream polyester resin plants has been deeply digested. Some resin plants have orders for powder coatings that have not yet been delivered. Pentylene glycol just needs to be stable, and the neopentyl plant is not willing to make a substantial profit in the short term due to many positive factors.

Although the market gradually entered the regular off-season in June, although orders from the neopentyl glycol plant were still being delivered, the signing of new orders was weak and the volume was small. From July to August, market demand is likely to be further bearish, and neopentyl glycol has little intention to keep up with the rising price of isobutyraldehyde.