Price trend

According to the Commodity Market Analysis System of Business Society, the reference average price of 85% hot process phosphoric acid in China was 6640 yuan/ton on March 1st. On March 27th, the reference average price of 85% hot process phosphoric acid in China was 6540 yuan/ton. This month, the domestic price of hot process phosphoric acid decreased by 1.51%.

According to the Commodity Market Analysis System of Business Society, the reference average price of 85% wet process phosphoric acid in China was 6516 yuan/ton on March 1st, and 6866 yuan/ton on March 27th. This month, the domestic wet process phosphoric acid price increased by 5.37%.

quotations analysis

The phosphoric acid market has shown a polarized trend this month. Due to differences in raw material trends and demand, the domestic price of hot process phosphoric acid is weak and falling, while the domestic wet process phosphoric acid market continues to rise.

Thermal phosphoric acid

This month, the price of thermal phosphoric acid fluctuated and fell. In the first half of March, the price of thermal phosphoric acid continued to decline. The price of raw material yellow phosphorus has been lowered, resulting in insufficient cost support. The demand for thermal phosphoric acid in the market is relatively light, and the transaction atmosphere is poor. In the second half of March, the market price of phosphoric acid slightly increased and then fell again. The price of raw material yellow phosphorus has risen and fallen, with limited cost support. Downstream on-demand procurement results in weak market trading. As of March 27th, the factory price of 85 thermal process phosphoric acid in Hubei region is around 6300-6700 yuan/ton, and the factory price of 85 thermal process phosphoric acid in Sichuan region is around 6400 yuan/ton.

Market for raw material yellow phosphorus. The yellow phosphorus market fluctuated and fell in March, and the overall trading situation in the yellow phosphorus market was average. In the first half of the year, the focus of the domestic yellow phosphorus market shifted downwards, and manufacturers mainly placed early orders, while the transaction situation of new orders was average. In the middle of the month, the focus of the yellow phosphorus market continued to decline, and there were many cases of underpricing and procurement. It was mainly a wait-and-see approach, and purchasing was very cautious. The price range of yellow phosphorus market fluctuates in the latter half of the year. The upstream and downstream are relatively deadlocked, while downstream procurement is cautious and mainly wait-and-see. As of now, the market price for yellow phosphorus is around 22500-22800 yuan/ton, and the actual transaction is negotiable.

Wet process phosphoric acid

The price of wet process phosphoric acid has continued to rise this month. The price of raw material phosphate ore has increased, leading to increased cost support. This month, the demand for wet process phosphoric acid in the market has increased, and the trading atmosphere is good. Manufacturers and distributors have continuously raised their prices. Driven by demand, the operating rate of wet process phosphoric acid has increased. At the end of the month, some maintenance equipment for wet acid production resumed production, and the market supply gradually increased. As of March 27th, the domestic market quotation for 85 wet process phosphoric acid is around 6050-7450 yuan/ton.

Market for raw material phosphate rock. This month, the domestic phosphate ore market has improved. At the beginning of the month, some mining companies in certain regions in China raised prices in the mid to high end grade phosphate ore market narrowly, driving the overall focus of negotiations in the phosphate ore market upwards. As of March 27th, the reference price for domestic phosphate ore market is around 1062 yuan/ton.

Future Market Forecast

Business Society’s phosphoric acid analyst believes that the phosphoric acid market has been experiencing significant stability and minor fluctuations recently. The market for raw material yellow phosphorus and phosphate ore is stabilizing, while the phosphoric acid market is mainly wait-and-see. The downstream demand for hot process phosphoric acid is mainly for replenishment, while the demand for wet process phosphoric acid is beginning to slow down. It is expected that the short-term phosphoric acid market will continue to consolidate, and it is recommended to pay attention to changes in the trend of raw materials.

Zinc prices have fluctuated and fallen this week

According to the Commodity Market Analysis System of Shengyishe, as of March 25th, the zinc price was 21100 yuan/ton, a fluctuation decrease of 1.06% compared to the zinc price of 21326 yuan/ton on March 18th. The import volume of zinc concentrate decreased on a month on month basis, with a tight supply of zinc concentrate and a decrease in processing fees. The supply of zinc in the market was poor, and demand was weak, resulting in a volatile decline in zinc prices this week.

Tight supply of zinc concentrate

According to statistics from the General Administration of Customs, the import volume of zinc concentrate in China in January 2024 was 395900 tons, a decrease of 10.4% month on month and 8.18% year-on-year. In February 2024, the import volume of zinc concentrate was 251200 tons, a decrease of 36.56% month on month and 46.69% year-on-year. The cumulative import volume of zinc concentrate from January to February 2024 was 647100 tons, a year-on-year decrease of 28.28%. The import volume of zinc concentrate has decreased, and the supply of zinc concentrate is tight. The processing cost of zinc concentrate decreased in March, and the supply of zinc in the market was tight.

Poor macroeconomic growth

The Swiss central bank announced a 25 basis point rate cut and adjusted the benchmark interest rate from 1.75% to 1.5%. The sudden shift in monetary policy by the Swiss central bank may lead to a series of chain reactions. The US PMI data released by S&P Global and Research shows that the initial value of Markit’s manufacturing PMI in March was 52.5, and the initial value of Markit’s comprehensive PMI in March was 52.2. The US manufacturing business activity in March showed strong performance, setting the fastest growth rate in nearly two years. In the past two weeks since mid March, the US dollar index has continued to rise, with macroeconomic recovery. However, inflationary pressure still exists, and the macroeconomic weakness in the zinc market remains. The demand growth in the zinc market is not satisfactory.

Future Market Forecast

According to data analysts from Business Society, the supply of zinc concentrate is tight, and zinc prices fluctuated and rose in March. However, the macroeconomic recovery is not good, and the demand growth in the zinc market is insufficient. This week, zinc prices fluctuated and fell. In the future, both supply and demand in the zinc market have rebounded, and the support for zinc price increases is limited. It is expected that zinc prices will fluctuate and consolidate in the future.

Domestic sodium metabisulfite price trend chart

According to the Commodity Market Analysis System of Business Society, the price of domestic sodium metabisulfite was weak this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2166.67 yuan/ton, and the average price over the weekend was 2150.00 yuan/ton, a decrease of 0.77% during the week.

Affected by the further decline in upstream raw material prices, some enterprises have lowered the factory price of sodium metabisulfite again this week, driving the domestic market price of sodium metabisulfite to continue to decline weakly. This week, the market price range of industrial grade sodium metabisulfite is 2100-2200 yuan/ton, with most prices concentrated around 2100-2150 yuan/ton. The inventory of the enterprise is about 30%, and the overall supply and demand of sodium metabisulfite market is stable, with the enterprise mainly completing orders from old customers. (The above prices refer to the quotations from mainstream domestic enterprises, and some enterprises that have not been reported are not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturers. For details, please contact each manufacturer for consultation.).

This week, domestic soda ash prices fell by 2.94%, while sulfur prices increased by 0.64%. Overall, the upstream raw material prices of sodium metabisulfite have fluctuated downward, and lower costs will further suppress the market price of sodium metabisulfite in the future.

Future Market Forecast

Analysts from Business Society believe that under the sustained weak cost suppression, the domestic market price of sodium metabisulfite will continue to be under pressure and operate weakly in the short term.

According to the Commodity Market Analysis System of Business Society, as of March 20th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3300.00 yuan/ton, which is basically the same as the reference price of 3300.00 yuan/ton on March 15th.

From the data monitoring chart of Business Society, it can be seen that the formic acid market has stabilized after rising since March. Recently, the domestic industrial grade 85% formic acid market has continued to operate steadily. The mainstream quotation range of enterprises is between 3100-3400 yuan/ton, and the waiting sentiment of holders for the market has not changed significantly compared to the previous period. New orders in the market are mainly in demand.

Cost side: In this cycle, the domestic methanol market prices have fluctuated narrowly, and the narrow consolidation operation may continue in the future, which may have limited impact on the formic acid market. The price of raw material sulfuric acid has slightly increased, and the market atmosphere is active. The future market may remain strong, supporting or continuing the formic acid market.

Supply and demand side: Formic acid is widely used, with a wide variety of downstream products. Terminal factories are in high demand when entering the market, and the demand side is relatively stable. The overall shipment of formic acid in the market is still acceptable.

Business Society formic acid analysts believe that the short-term cost side has little impact, and the market has a strong wait-and-see atmosphere. Holders are actively shipping, and it is expected that the formic acid market will remain stable and slightly volatile in the short term. The specific trend still needs to pay attention to downstream demand.

Price trend

In mid March, the domestic ABS market continued to maintain a strong trend, and spot prices of various brands continued to rise. According to the Commodity Market Analysis System of Business Society, as of March 18th, the average price of ABS sample products was 12162.50 yuan/ton, with a price increase or decrease of+3.18% compared to the beginning of the month.

Cause analysis

In terms of supply: Recently, the domestic ABS industry has taken on the pattern of pre holiday load reduction and adjustment, and the current operating rate is not high. In addition, the Jieyang unit of China National Petroleum Corporation has entered maintenance, further reducing the industry device load to around 60%. The operating rate of ABS aggregation enterprises is not high, and the market supply pattern remains tight. Last week, the inventory of production enterprises flattened, and overall, the supply side’s support for spot goods is still acceptable.

In terms of raw materials: In mid March, the overall trend of ABS upstream three materials was high, with a narrow range of consolidation in the acrylonitrile market. The price of raw material propylene has slightly decreased, and the cost support for acrylonitrile has weakened; Downstream products only maintain essential support for acrylonitrile; The supply side of the acrylonitrile unit is generally loose. Overall, the acrylonitrile market lacks bullish momentum in the short term, and the market may remain stagnant and consolidate.

Recently, the domestic butadiene market has experienced slight fluctuations and consolidation, showing an overall trend of first falling and then rising. The inverted profit situation of the main downstream products has led to poor downstream inquiry intention, and there is certain suppression of demand in the face of the market. However, there is price support for the domestic market in the external market, coupled with the support of downstream hard demand stocking over the weekend, some bidding sources have increased their prices and completed transactions, which has boosted the market slightly. It is expected that the future market will rise weakly and consolidation will be the main trend.

Recently, the market price of styrene has risen at a high level. The price of raw material pure benzene remains unchanged due to the rise of crude oil, while the cost support for styrene remains stable and strong. Downstream enterprises are in urgent need of follow-up, while the supply pattern is gradually tightening, resulting in a decrease in on-site inventory. It is expected that the styrene market will continue to fluctuate and strengthen in the short term.

In terms of demand: As we enter mid March, the stocking enthusiasm of downstream factories of ABS’s main terminals has recovered well, with a particularly significant increase in production scheduling in the home appliance industry. The overall load of factories on the demand side has increased, leading to an increase in demand purchases. Although there is some resistance towards the supply of goods after price increases, the overall consumption of ABS is high. At present, traders are actively trying to report high prices, spot trading has improved, and the demand side can still provide support for the market.

Future Market Forecast

Recently, the overall performance of the upstream three materials of ABS has remained stable, moderate, and strong, maintaining support for the cost side of ABS. Petrochemical plant operations continue to decrease, and supply pressure has significantly eased. On the demand side, due to downstream enterprises resuming work and increasing production schedules, ABS consumption has increased. Merchants are attempting to offer higher prices, resulting in strong market momentum. The current ABS fundamentals are generally bullish, and the ABS market may continue to rise in the short term in the future.

According to the commodity data analysis system of Business Society, since March, the hydrogen peroxide market has been continuously recovering and rising. As of March 18th, the hydrogen peroxide market has surged, with an average market price of 913 yuan/ton, an increase of 16.6% compared to the beginning of the month.

Lido supports the rise of hydrogen peroxide market

The sharp rise in the hydrogen peroxide market this round is mainly due to the improvement in terminal demand, some leading enterprises resuming operation, and the increase in prices. Large factories in Hebei Province have resumed operation, with prices rising to 920 yuan/ton. The prices of major hydrogen peroxide manufacturers in Shandong and Anhui regions have also exceeded 900 yuan/ton, leading to a significant increase in the overall hydrogen peroxide market.

Business Society’s hydrogen peroxide analyst believes that with demand support, it is expected that the hydrogen peroxide market will remain strong in the short term.

1、 Price trend

According to the commodity market analysis system of Business Society, the price of bromine has been weak this week. The average market price at the beginning of the week was 21600 yuan/ton, while the average market price on the weekend was 20960 yuan/ton, a decrease of 2.96% and a year-on-year decrease of 20.61%. On March 14th, the bromine commodity index was 75.09, unchanged from yesterday, a decrease of 69.37% from the highest point in the cycle of 245.18 points (2021-10-27), and an increase of 27.44% from the lowest point of 58.92 points on October 29th, 2014. (Note: The cycle refers to the period from September 1st, 2011 to present)

2、 Market analysis

This week, the price of bromine is in a weak trend, with the mainstream price in the Shandong market being around 20500-21500 yuan/ton, and the market price is consolidating horizontally. Each bromine manufacturer is now resuming production, and the market situation is average. The actual transactions of enterprises are average. The downstream flame retardant and intermediate industries are still mainly purchasing on demand recently, and the transaction situation is average, with a strong wait-and-see attitude.

In terms of raw materials, domestic sulfur prices have been consolidating this week, with an average market price of 1026.67 yuan/ton at the beginning of the week and 1036.67 yuan/ton over the weekend, with a price increase of 0.97% and a year-on-year decrease of 14.56%. This week, the overall price of raw sulfur has stabilized and the market is operating.

It is predicted that the price of bromine will be weak in the near future, while the price of upstream sulfur will be consolidating. The shipment of bromine will be average in the near future, and the downstream flame retardant and intermediate industries of bromine will still mainly purchase according to demand in the near future, with moderate replenishment of inventory. There is no positive support, and it is expected that the price of bromine will be weak in the short term. The specific situation depends on the downstream market demand.

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average market price of chlorinated paraffin 52 in China was 5800 yuan/ton on March 8th, and the average market price of chlorinated paraffin 52 in China was 5800 yuan/ton on March 14th. The price of chlorinated paraffin remained stable this week.

2、 Market analysis

The market price of chlorinated paraffin remained stable this week. This week, the price of raw material liquid chlorine has risen, while the price of raw material liquid wax has fallen, and the cost side has fluctuated. Downstream on-demand procurement, with poor market demand and average transaction atmosphere. Chlorinated paraffin manufacturers maintain stable prices for shipments, distributors adjust flexibly, and discuss actual orders in detail. As of March 14th, the ex factory price of 52 environmentally friendly chlorinated paraffins in Anhui region is about 6300 yuan/ton, and the market price of 52 national standard chlorinated paraffins in Shandong region is about 5500-5900 yuan/ton.

In terms of raw material liquid wax, the price of liquid wax has continued to decline this week. The current market trend is not good, and liquid wax fluctuates with the crude oil market. In terms of raw material liquid chlorine, the price of liquid chlorine has increased this week. The market transaction atmosphere has improved, with downstream on-demand procurement and real order negotiation as the main focus.

3、 Future Market Forecast

Business Society’s chlorinated paraffin analyst believes that the chlorinated paraffin market has been running steadily in recent days. There is still support on the cost side, and there is room for follow-up on the demand side. The market is mainly cautious and wait-and-see. It is expected that the price of chlorinated paraffin will stabilize and operate in the short term.

1、 Price trend

According to the Commodity Analysis System of Business Society, the price of caustic soda has remained stable this week, with an average market price of 781 yuan/ton from the beginning of the week to the weekend, a decrease of 10.84% compared to the same period last year. On March 10th, the chlor alkali index was 998 points, unchanged from yesterday, a decrease of 53.10% from the highest point in the cycle of 2128 points (2021-10-24), and an increase of 40.17% from the lowest point of 712 points on January 5th, 2016. (Note: The cycle refers to 2011-12-01 present)

2、 Market analysis

According to the Commodity Analysis System of Business Society, the domestic caustic soda prices have remained stable this week. The quotation for caustic soda in Shandong region has been consolidated, with 32% of the mainstream market quotation for ion exchange membrane caustic soda being around 730-830 yuan/ton, and the mainstream market price in Jiangsu region being around 820-880 yuan/ton. This week, the overall price of caustic soda has remained stable, with downstream purchases still being made on demand and moderate replenishment being the main focus.

According to the price monitoring of Business Society, in the 10th week of 2024 (3.4-3.8), there were a total of 3 products that rose, 3 products that fell, and 1 product that rose or fell to 0 on the chlor alkali industry price list. The main rising commodities include hydrochloric acid (5.56%), caustic soda (1.48%), and PVC (0.07%); The main commodities falling include: light soda ash (-6.85%), baking soda (-2.37%), and calcium carbide (-0.57%). The average increase and decrease this week is -0.38%.

Analysts from Business Society believe that in the near future, the price of caustic soda has temporarily stabilized this week. Downstream aluminum oxide will purchase according to demand and replenish inventory in an appropriate amount. It is expected that caustic soda may consolidate the operating market in the later stage, depending on downstream market demand.

Domestic sodium metabisulfite price trend chart

According to the Commodity Market Analysis System of Business Society, the domestic price of sodium metabisulfite continued to be weak this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2316.67 yuan/ton, and the average price over the weekend was 2183.33 yuan/ton, a decrease of 5.76% during the week.

Due to the continuous decline in upstream raw material prices, enterprises have lowered the exit price of sodium metabisulfite again this week. The domestic industrial grade sodium metabisulfite market price range is 2150-2300 yuan/ton, with most prices concentrated around 2150-2200 yuan/ton. The inventory of the enterprise is about 30%, and the enterprise mainly completes orders from old customers. (The above prices refer to quotes from mainstream domestic enterprises, and some companies that have not been quoted are temporarily not within their scope. The prices are for reference only and are not related to the final pricing of the manufacturer. For more details, please contact each manufacturer for consultation.).

As of March 8th, the price of upstream soda ash has dropped by 6.85% within the month, while the price of sulfur has dropped by 0.33%. The continued weakness of raw material prices will further suppress the domestic market price of sodium metabisulfite in the future.

Future Market Forecast

Analysts from Business Society believe that costs remain weak, and in the short term, the domestic market price of sodium metabisulfite will continue to operate under pressure.