The macro-level is gradually showing positive results, and local structural rebound

The macro-level is gradually showing positive results, and local structural rebound

Gain list:

Butadiene: In this cycle, the domestic butadiene market rose first and then fell, and the supply price of Sinopec increased. During the week, some Northeast goods continued to be exported, and the transactions were acceptable, boosting the mentality of the industry, and during the week, it was heard that some East China installations were expected to be stored and repaired in December, and the long-term supply side was positive. The increase in Sinopec's supply price also has some support for the market. Businessmen have a positive attitude and tentatively push up the offers, but terminal inquiries are cautious, and the purchases are mainly for rigid needs, and the market trading is slightly deadlocked. As the weekend approached, the transaction of some high-priced goods was sluggish, and the supply side was abundant, which suppressed the market to a certain extent, and the pressure on spot offers weakened. Recently, shipments have arrived in Hong Kong one after another, and the supply of goods from Northeast China continues to be exported, showing sufficient supply. However, the follow-up of downstream demand is limited, and the demand is slightly dragged. It is expected that the domestic butadiene market will maintain a market trend of range adjustment in the next cycle.

Styrene: This week, the domestic styrene market rose first and then fell. The macro economy is fermenting. The U.S. inflation index is lower than expected. The optimization of management and control is conducive to the recovery of the domestic economy and boosts market confidence. However, with the continuous rebound of prices, the intention to take profits has increased, and there are concerns about the supply side, and the market is under pressure. Subsequent supply is still on the high side. At the end of the year, there will be a new production capacity of 600,000 tons, and the port inventory will increase month-on-month. The macroeconomic benefits will continue to rise or gradually come under pressure as the price rebounds. Be cautious in chasing the increase. Follow-up attention will be paid to the terminal demand for styrene Follow up and the supply of new domestic production capacity.

Diethylene glycol: The focus of the diethylene glycol market is higher this week. The spot supply in South China is tight, and the quotations from the holders are scarce. International crude oil fluctuated at a high level, and the cost side of diethylene glycol was relatively strong. This week, the port shipments were in good condition, with few cargoes arriving at the port, and the inventory fluctuations were not large. As of Thursday, the inventories of the two warehouses were around 24,100 tons, an increase of 0.445 from the previous month. 10,000 tons, the supply side supports the bottom of the market. However, the downstream demand is flat, and the start-up of unsaturated resin factories continues to be low, maintaining rigid demand purchases. At the same time, the epidemic situation in some parts of the country is severe, and logistics and transportation are restricted to a certain extent, which inhibits demand. On the whole, the low level of inventory has given the bottom support to the market, while the high price of raw materials has a strong upward drive, but the demand side has dragged down the market sentiment. It is expected that the market will maintain a strong volatile operation in the short term, and continue to pay attention to changes in port inventory in the later period.

drop list

Aniline: In the last cycle, the price of domestic aniline market fell sharply. During the cycle, domestic pure benzene fluctuated. The support for aniline was average. The load on the demand side decreased, and the wait-and-see mood of buyers increased. , the inventory rose, and the quotations were lowered continuously, and the aniline market weakened. From the perspective of the supply side, Jilin Cornell continued to stop, Shanxi Tianji increased the load, Dongying Jinling was reduced to 70% by equipment maintenance of the power plant, and Jiangsu Fuqiang planned to stop within a week. On the demand side, the market continued to fall, downstream and traders waited and watched cautiously, and purchase intentions were weak. Looking at the market outlook, the price of pure benzene is weak and volatile, which is negative for the aniline market. The supply in the market is increasing, the downstream terminal shipments are not good, the consumption of aniline is decreasing, and the cost and supply and demand are weak. The aniline market continues to be under pressure. The domestic aniline market may continue to run weakly this week.

BDO: This week, the domestic BDO market is strong and then weak. Recently, some maintenance devices have been restarted one after another. The demand continues to be sluggish, the downstream industries start to work at a low level, the purchase intention of raw materials is not strong, the shipping mentality of the holders is strong, and the negotiation of profit sharing, the overall market fluctuates at a low level. The terminal support is not strong, the terminal wait-and-see mood is strong, the shipping mentality of the holder is dominant, the downstream spandex price is rising, the spot purchase is cautious and the price is negotiated, and the actual order is negotiated according to the market. The overall focus is weak. The support on the supply side is not strong, the overall center of gravity is weak, and the downstream industry is slow to follow up. It is expected that the BDO market will be weak and volatile. Pay attention to the bidding news and equipment maintenance.

Propylene Glycol: This week, the domestic propylene glycol market’s overall market center of gravity fluctuated slightly compared with last week. New orders for cyclopropane, a raw material, will be sold in a large volume. Or gradually increase, the overall performance is stalemate, and the cost-side support is temporarily weak. On the other hand, the domestic demand for propylene glycol is weak, mostly supported by export orders. weak propulsion. The overall market supply is sufficient and the trading atmosphere is expected to be under pressure. The downstream just-needed purchases are mainly, and the demand is relatively sluggish. It is expected that the market still has weak downward space.

View:

The Federal Reserve’s pace of concern has been suspended, and the latest adjustments to the national epidemic prevention and control policy have boosted market confidence. The bulk commodity market rebounded collectively, and some petrochemical products rebounded following the correction. From the current point of view, crude oil is expected to remain at a high level and fluctuate. The supporting force exists. On the terminal side, the macro release will be beneficial to the subsequent infrastructure construction and the real estate industry. However, short-term terminal demand may hardly turn around significantly, but with the progress of gradual recovery, the economy is expected to recover steadily.