The Raw Materials of Neopentyl Glycol Are Lowered!

The price of isobutyraldehyde dropped rapidly. After breaking through the support level of 15,000 CNY/ton that has been maintained in the second half of the year, the decline continued to decline with a large decline. The cost support quickly weakened, and the downstream demand was very sluggish in the off-season. The neopentyl glycol market entered The stage of bottoming.

The delivery of neopentyl glycol orders is over, and the new orders are not enough to be placed in the storage class library. Expectation:

Since the beginning of this year, the downstream demand of neopentyl glycol has been improving, and the factory has been maintaining the status of delivery orders due to cost stimulation, and the spot is very tight. Entering November, the neopentyl glycol plant was supported by contract orders at the beginning of the month, and most of the plant orders were scheduled to mid-November. According to market understanding, the company’s order delivery has reached the end, and there is no news about the signing of new orders. The neopentyl glycol plant has entered November and has been operating at a high level. According to the current downstream level assessment, new orders have been signed. Support is very limited, and the accumulation of inventory on the supply side may become inevitable. Entering the fourth quarter, the demand has been declining month by month. According to the current supply and demand side, the inventory on the supply side will also become higher and higher. In the short term, although the new orders on the supply side are very bleak, the neopentyl glycol plant still has a stable market mentality under the current tight spot situation. In the long run, the supply side support is expected to be very weak.

The social inventory of isobutyraldehyde is slowly digested, and the supply and demand side is reappearing:

In September, due to the double restrictions, the dodecyl alcohol ester industry shut down the entire line, while the isobutyraldehyde factory was less affected by the policy. The market "decreased but not increased" caused the isobutyraldehyde to accumulate a large amount of social inventory. In October, The downstream factories of isobutyraldehyde have gradually recovered, and isobutyraldehyde has entered the stage of digesting social inventories. According to the data, the rate of digestion of social inventories is relatively slow. According to calculations, it will take at least one month to ease, and it will enter mid to early November. Due to the continuous downward exploration of butanol, the profit of octanol has shrunk sharply. Shandong Jianlan adjusted the production ratio of isobutyraldehyde, and the output of isobutyraldehyde increased significantly. Jilin Petrochemical’s isobutyraldehyde increased some additional external sales, and downstream neopentyl glycol The plant Fufeng Perstorp’s neopentyl glycol plant was shut down for maintenance on November 13 and is expected to restart in early December. The supply and demand of isobutyraldehyde has changed again, and the social inventory of isobutyraldehyde has changed from a digested state to a stored-up state. The downstream neopentyl glycol and dodecyl alcohol ester industry demand for isobutyraldehyde is facing a bleak situation at the same time. The market starts from the terminal to the upstream. Under the current situation of high social inventory, every factory is not short of isobutyraldehyde, and the market is showing In a difficult situation, the center of gravity of isobutyraldehyde continued to fall.

Orders for powders are sluggish, orders for polyester resins are flat, and the mentality of killing falls continues:

In November, the quarterly report of listed coating companies was released. Most companies are losing money. It can be seen that the small and medium-sized enterprises in the market are even more miserable. Affected by the upward adjustment of raw materials, thunderstorms in housing enterprises and the downturn in the terminal industry, the powder industry has entered a wave of concentrated bankruptcy. tide. Polyester resin enters the off-season in the fourth quarter, and powder orders are very weak. At present, most companies have a strong attitude of being bearish. They usually purchase raw materials according to the powder order situation. Some terminal industries plan early holidays this year. According to the market in November The decline in demand is very obvious, and most of the industry's current expectations for December are not as good as November.

Recently, the market is paying more attention to the expectation that the downstream just needs to cover up positions in mid-November. According to market understanding, a small number of companies feel that after breaking the position, neopentyl glycol can appropriately cover up positions after the downward adjustment. Most companies believe that the current issue of raw materials is not considered. Terminal orders are particularly sluggish. Regardless of how much raw materials fall, you still need to buy as you use them according to your own order situation.