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Butanone | Isopropanol | Phenolic Ketone | Cyclohexanone

2021 Half Year Summary : Phenol Ketone & Downstream

Butanone: Fluctuations in the first half of the year are still expected in the second half of the year

Butanone : Fluctuations in the first half of the year are still expected in the second half of the year.

In the first half of 2021 , China's methyl ethyl ketone market saw a significant decrease in export volume and a year-on-year increase in supply.
Since the widespread restructuring and consolidation of the maritime industry in 2017, the industry has not suffered further losses, although events such as the covid-19 outbreak led to a significant drop in demand.

More trend of Butanone in China's Market

More trend of Butanone in China's Market

Market prices were volatile under the favorable support of a good bulk environment, an active trading mentality, and an increase in domestic demand.

In the first half of the year, the overall rise time was longer than the fall, and the overall profit level performed well. In the second half of the year, the majorfactories have stored maintenance plans, and after entering the traditional peak season, the methyl ethyl ketone market is still expected. In the first half of 2021 , China's methyl ethyl ketone market has fluctuated as a whole, and the price center is higher than the previous two years. The East China market price operates in the range of 6000-10000 yuan/ton, from a high of 7500 yuan/ton at the beginning of the year to 8,700 yuan/ton at the end of June, an increase of about 16%.

In 2021 China's butanone export volume dropped sharply

In 2021, China's butanone export volume dropped sharply.

In the first half of 2021, the overall profitability of the butanone industry was relatively good, slightly lower than the same period last year. In the first half of the year, the average profit of methyl ethyl ketone in China was 1475 yuan/ton, a year-on-year decrease of 276 yuan/ton, a decrease of 15.8%. Among them, the fluctuation of methyl ethyl ketone increased in the second quarter, and the post-ether C4 price was low, so the profit level of methyl ethyl ketone It reached 1721 yuan/ton, higher than the 1258 yuan/ton level in the first quarter.

Semi-annual summary and forecast in the first half of 2021

Isopropanol

In the first half of 2021, the trend of China's isopropanol market was relatively volatile, with relatively frequent fluctuations in the first quarter, a period of relaxation at the beginning of the second quarter, and continued weakness after May. The following will take you to review the trend of China's isopropanol market in the first half of the next year and simply predict the market trend in the second half of the year.
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the trend of China's isopropanol market in the first half of 2021

In July, the isopropanol market demand continues to be in the off-season, and acetone continues to be in the low range, and the cost is difficult to provide greater support. It does not rule out that the isopropanol market will hit in July The bottom of the situation; the fundamentals on the market were relatively stable in August, and the overall volatility of the isopropanol market may be relatively flat; with the arrival of the peak demand season in September and October, the demand side will appear positive support, and the isopropanol market may appear at this time Upside opportunity; In November and December, market demand will return to light again.

Trends and forecasts of the isopropanol market in the second half of 2021

Phenolic epoxy resin: Cost drag in the first half of the year

In the first half of 2021 , the epoxy resin industry chain has shown an upward trend across the board. Among them, bisphenol A performed well, and the market rose prominently, with an increase of 61.57%.
Cost drag in the first half of the year
More price trend of Phenolic Cpoxy Resin

More price trend of Phenolic Epoxy Resin

In the first half of 2021 , the epoxy resin industry chain has shown an upward trend across the board.

Among them, bisphenol A performed well, and the market rose prominently, with an increase of 61.57%. The market for epichlorohydrin, another raw material, has a relatively limited increase, with an increase of 10.26%. In the downstream epoxy resin market, under the trend of dual raw materials, more raw materials rose. Solid resin increased by 40.23%, and liquid resin increased by 23.17%. In 2021 , crude oil fluctuated and rose. The two oils broke through the 60 USD/barrel and 70 USD/barrel respectively, creating a high point since 2018. Their transmission to the cost of chemical products has significantly increased, and the cost platform of petrochemical products has moved upward, regardless of whether it is raw material.

Phenolic Ketone

Phenolic Ketone
Semi-annual summary and forecast in the first half of 2021
It’s over half of 2021. What kind of changes did China’s phenol ketone industry chain show in the first half of the year? Let’s take you to analyze the market changes of the phenol ketone industry chain in the first half of the year from multiple perspectives.
  • Phenol articles

  • Acetone articles

  • From the chart, we can clearly see from the chart that the phenol market continued to show an upward trend before mid-May 2021, and fell after mid-May, but then rose again after mid-June. In the beginning of 2021, the phenol market continued the downturn at the end of last year.
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    China’s phenol ketone industry
  • From the figure, we can see that in the first half of 2021, it continued to rise at the beginning of the year, then fell briefly and rebounded again, and then showed a long-term downward trend. In the beginning of 2021, the acetone market continued the sluggish atmosphere at the end of last year.
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    China’s  phenol ketone industry

In July, because downstream demand continues to be in the off-season, and under the influence of the 100th anniversary of the founding of the Communist Party of China, downstream terminal factories have reduced production and load due to environmental protection, and there is hardly room for improvement in demand. Supply of phenol ketone factories The start of construction is at a high level, and the port inventory is also in the high range. The supply side has no good performance and there is no cost side. At present, the price of acetone itself is relatively low, and the cost inversion is more serious. Holders continue to lower the price and the mentality is not strong.

Acetone market forecast for the second half of the year

After a long-term downturn, the industry may have plans to look for a push, but due to the lack of good support, the market center of gravity will not fluctuate too much; 9 In October and October, downstream demand will enter the peak season, and the improvement in demand may support the acetone market, and the market's center of gravity may have a certain space to rise.

Read more about the Trend of Phenolic Ketone

Cyclohexanone: Summary of the first half year

In the first half of 2021, the overall price range of China's cyclohexanone moved upwards, and the market performance was acceptable, basically showing an "M"-shaped trend. Let's analyze it in detail below.In the first quarter, the cyclohexanone market fluctuated upwards and then fell slightly, and stopped falling and rebounded at the end of March. Crude oil prices were strong around the Lunar New Year, and China's pure benzene market was driven by the rapid rise. The main listing price climbed to 6,750 yuan/ton. The cost of cyclohexanone rose strongly.

With the drop in cyclohexanone prices, chemical fiber orders have gradually increased, supporting market demand, and the improvement of the pure benzene market has driven the cyclohexanone market to stop falling.

In the second quarter, the cyclohexanone market continued its upward trend, the mid-season high fell, and the market rebounded at the end of the quarter.

In the second quarter, the cyclohexanone market continued its upward trend, the mid-season high fell, and the market rebounded at the end of the quarter.

Looking at the market outlook, the recent surge in the price of pure benzene has caused almost all downstream to lose money, suppressing the enthusiasm of downstream purchases. Therefore, the market price of pure benzene in China may have a short period of decline in the future. Cyclohexanone shipments are not smooth, deposits and profits may be shipped, and all parties are unfavorable. It is expected that the cyclohexanone market may fall in the short term, but the supply of pure benzene market remains tight, so the market decline is limited, accompanied by the rapid downstream development in the later period. Due to the tightening of the upstream goods, the market will return to the upward trend. The cost of cyclohexanone is favorable. However, the preliminary maintenance equipment of cyclohexanone is expected to restart, and the on-site construction may increase. This is bad for the market. Under the empty game, it is expected that the long-term ring The hexanone market may oscillate after it stops falling, and it is still necessary to pay attention to the cost side and the dynamic changes of the device.

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