This month, the domestic industrial grade calcium formate market price fluctuated and declined. As of May 30th, the benchmark price of 98% industrial grade calcium formate in Shengyishe was 3390.00 yuan/ton, a decrease of -10.97% compared to the beginning of this month (3807.50 yuan/ton).

Market analysis:

This month, the supply of industrial grade calcium formate in the market is stable and sufficient, with an increase in inventory and a bearish supply side. Downstream demand is weak, and buying has followed up around rigid demand. Mainstream manufacturers have lowered prices, and the market mentality is not good. The price center of the industrial grade calcium formate market continues to decline.

Supply side:

In May, the market price of industrial grade 85% formic acid in China fell. According to the Commodity Market Analysis System of Shengyishe, as of May 28th, the average price quoted by formic acid companies was 2937.50 yuan/ton, a decrease of 10.65% compared to the price on May 1st (formic acid reference price of 3287.50 yuan/ton). From the monitoring chart of Business Society data, it can be seen that the industrial grade 85% formic acid market experienced an overall decline in May. In the first half of the month, the price of raw material methanol in the market rose and cost support increased, but demand support was weak. Downstream buying was flat, and inquiries and purchases were mainly in demand. Manufacturers accumulated inventory to promote transactions, and the focus of negotiations in the formic acid market declined. In the second half of the month, the raw material methanol market surged and fell, and cost support weakened from strong to weak. The supply side has sufficient supply of goods, but the demand follow-up is limited, resulting in a bearish supply and demand side. Enterprises are actively selling at a profit margin, and the formic acid market has stabilized after a decline.

On the demand side:

The market size of industrial grade calcium formate is mainly driven by downstream application areas such as cement and tile additives, flue gas desulfurizers, and feed additives. And the progress of the construction site. From January to April, the national real estate development investment was 3092.8 billion yuan, a year-on-year decrease of 9.8% (calculated according to comparable standards); Among them, residential investment was 2339.2 billion yuan, a decrease of 10.5%. From January to April, the sales area of newly-built commercial housing was 292.52 million square meters, a year-on-year decrease of 20.2%, with residential sales area decreasing by 23.8%. The sales revenue of newly-built commercial housing reached 2806.7 billion yuan, a decrease of 28.3%, including a 31.1% decrease in residential sales. Recently, the significant relaxation of real estate policies is conducive to industry recovery, and demand for cement is expected to increase. On June 1st, the new national standard for cement was implemented, and the production cost of cement will further increase. Currently, the cement market has hit a bottom, and enterprises have strong upward demand.

Overall:

Recently, the domestic industrial grade 98% calcium formate market price has been affected by various factors, showing downward pressure. The market price fluctuations of upstream raw material formic acid and changes in downstream market demand are the main reasons. The decline in formic acid prices has led to a decrease in the production cost of calcium formate and an increase in market supply. Meanwhile, the lagging recovery of demand for calcium formate in downstream industries has further affected the market price trend. It is predicted that in the future, the market price of industrial grade 98% calcium formate may continue to decline, showing a weak and stable state.

According to the Commodity Market Analysis System of Business Society, the spot price of natural rubber in China has been continuously rising recently. As of May 28th, the spot rubber market in China was around 14500 yuan/ton, up 2.69% from May 21st at around 14120 yuan/ton.

Recently, the natural rubber market has been on the rise, with the Shanghai rubber 09 contract fluctuating from around 14850 yuan/ton to around 15150 yuan/ton. Currently, Thailand imports latex barrels at around 14900-15000 yuan/ton, bulk at around 13200-13600 yuan/ton, Vietnam imports latex bulk at around 12100-12300 yuan/ton, and domestically produced latex bulk at around 12000 yuan/ton.

Cost side: Currently, the raw material production areas in Thailand and Vietnam are affected by weather, resulting in slow rubber cutting progress. As of May 28th, the price of Thai glue is 80.2 Thai baht/kg, with an increase in price; The Yunnan production area in China has been affected by drought, while Hainan has been affected by rainfall, resulting in poor rubber cutting and relatively tight supply of raw materials, leading to an increase in market prices.

On the demand side: Downstream tire maintenance enterprises are gradually recovering their production scheduling, with a focus on rigid demand procurement. As of May 28th, the operating load of semi steel tires for domestic tire enterprises is around 80%; The operating load of all steel tires for tire enterprises in Shandong region is about 6.7%; At present, the inventory in the tire market is relatively sufficient, and overall shipments are average. Tire companies are cautious in purchasing raw materials, with a focus on immediate needs.

Inventory: As of May 26, 2024, the total inventory of Tianjiao Bonded and General Trade in Qingdao was 539100 tons, a decrease of 8900 tons or 1.63% compared to the previous period. The inventory in the bonded zone was 71400 tons, a decrease of 1.38%; The general trade inventory was 467700 tons, a decrease of 1.66%. At present, the port is in a state of destocking.

At present, the price monitoring of natural rubber is at a one-year high, a two-year high, and a three-year high. According to the Commodity Analysis System of Business Society, the average price of natural rubber in the past three years is 12659.47 yuan/ton, with a median value of 12835 yuan/ton, a minimum value of 11170.00 yuan/ton, and a maximum value of 14500.00 yuan/ton. The bottom price difference (lower than the lowest price difference in the past three years) is 3330 yuan/ton, and the top price difference (lower than the highest price difference in the past three years) is 0 yuan/ton.

Market forecast: The supply side is affected by weather, with limited domestic and foreign raw material output and high raw material prices, which will support the cost of natural rubber; At present, downstream tire companies on the demand side are in the off-season with average transactions. Tire companies have limited procurement and are cautious in purchasing high priced rubber raw materials; At present, the inventory of natural rubber in ports continues to decrease. It is expected that the natural rubber spot market will continue to rise in the short term.

According to the monitoring of the commodity market analysis system of Business Society, the price of activated carbon at the beginning of this month was 11600 yuan/ton, and the price at the end of the month was 11833 yuan/ton, with a price increase of 2.01%.

In May, domestic manufacturers offered stable prices for activated carbon, with some prices rising. The market transaction atmosphere was active, with orders being the main source of sales. The ex factory price of activated carbon for coconut shell water purification in East China was between 9500 and 12500 yuan/ton. Downstream markets were actively stocking up, with a focus on post holiday market transactions.

Coconut shell charcoal has a certain amount of sales in areas such as gold extraction, water purification, and filter cartridges, especially gold charcoal, which receives more inquiries from the African market; The supply of fruit shell charcoal with medium to low indicators is smoother. There is a recent rebound in imported carbonized materials, and the industry can pay more attention to it.

Prediction: The transaction volume in the activated carbon market is high, and it is expected that the price of activated carbon will mainly fluctuate within a narrow range in the short term.

According to the Commodity Market Analysis System of Business Society, the domestic price of sodium metabisulfite remained stable and advanced 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 2166.67 yuan/ton, indicating an overall stable and advanced trend.

This week, the overall trading volume of the domestic sodium metabisulfite market has been relatively stable, with slight fluctuations in raw material costs. The overall quoted prices of enterprises have remained stable. The price range of the domestic industrial grade sodium metabisulfite market this week is between 2100 and 2200 yuan/ton, with most prices concentrated around 2100 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.).

This week, domestic soda ash prices slightly increased, rising 1.91% within the week. Sulfur prices remained weak, falling 2.45% within the week. Raw material costs fluctuated and continued to move forward. The slight increase in soda ash prices will provide some support for the bottom of sodium metabisulfite prices in the future.

Future Market Forecast

Analysts from Business Society believe that raw material costs have fluctuated slightly, and downstream demand is relatively stable. In the short term, the domestic market price of sodium metabisulfite will continue to fluctuate slightly at the current level.

According to the commodity market analysis system of Business Society, the mainstream price of styrene in Shandong has fluctuated slightly recently. At the beginning of the week, the average price of styrene in Shandong was 9375.00 yuan/ton, and over the weekend, the average price of styrene in Shandong was 9621.67 yuan/ton, an increase of 2.63%. The price has increased by 24.98% compared to the same period last year.

styrene

Recently, the market price of styrene has fallen. From the above chart, it can be seen that the price of styrene has mainly fluctuated and increased in the past three months, with the increase greater than the decrease. The market has shown a good upward trend this week. The international oil price is at a high level, and the pure benzene market has slightly increased, with good cost support. However, styrene port inventories have continuously decreased, and production enterprises have followed up with price increases. Market replenishment transactions are active, and the styrene market is dominated.

In terms of raw materials, the price of pure benzene has increased this week. On May 20th, the price of pure benzene was 8773 yuan/ton. On Friday (May 24th), the price of pure benzene was 8835 yuan/ton, an increase of 1.06% from last week and 30.4% from the same period last year. The focus of pure benzene in East China continues to shift downwards, and low-end buying is more active. The confidence in the Shandong market is poor, and shipments have been hindered after refineries lowered prices, resulting in a significant reduction in transaction volume.

On the downstream side, the prices of styrene in the three major downstream markets have fluctuated. At the beginning of this week, the average price of PS was 10100 yuan/ton, and over the weekend, the average price of PS was 10083 yuan/ton, a decrease of 0.17% and an increase of 6.89% compared to the same period last year. The PS market transactions are weak, and merchants are offering discounts to sell. It is expected that the short-term PS price will mainly fluctuate weakly.

This week, the EPS market has been volatile and consolidating, with average support on the cost side, coupled with downstream high price resistance. Production has mainly digested the inventory of finished products in the early stage, and the market is in a wait-and-see atmosphere, with weak new order transactions. On the demand side, the recovery of downstream demand in the north is relatively slow, and the demand for home appliance packaging is improving. It is expected that the overall recovery of demand will be relatively slow next week.

Recently, domestic ABS prices have been weak. From a fundamental perspective, The center of gravity of the upstream three materials of ABS is falling, which weakens the support for the cost end of ABS. The construction of ABS polymerization plant has significantly increased, and supply pressure is gradually increasing. On the demand side, the demand for goods is weak, and the support for spot goods is not good. In summary, it is expected that the ABS market may experience a weak downward trend in the short term.

The economic and demand outlook remains a concern for the market, as international oil prices fall and the pure benzene market is likely to follow suit. The Lihua Yi styrene plant is restarting, and there is an expectation of an increase in styrene inventory. Market transaction support is temporarily weak, and it is expected that the styrene market will fluctuate and decline in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyishe, the average price of ammonium sulfate in the domestic market was 830 yuan/ton on May 17th, and 840 yuan/ton on May 23rd. This week, the price of ammonium sulfate in the domestic market increased by 1.20%.

2、 Market analysis

The domestic ammonium sulfate market price has risen this week. At present, the operating rate of enterprises is low, and the market supply is tight. Downstream on-demand procurement, increased inquiries, and stable market trading. The increase in urea prices this week is beneficial for the nitrogen fertilizer market and the ammonium sulfate market. The export market is still weak and has not improved yet. As of May 23rd, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 825 yuan/ton. The mainstream ex factory quotation for ammonium sulfate in Shandong region is around 840-860 yuan/ton.

3、 Future Market Forecast

According to analysts from Shengyishe Ammonium Sulfate, the market price of ammonium sulfate has recently risen, and market trading has increased. Manufacturers are mainly hesitant to sell. It is expected that the domestic ammonium sulfate price will continue to be strong in the short term, with consolidation and operation being the main focus.

1、 Price trend

According to the Commodity Analysis System of Shengyishe, the domestic market for imported potassium chloride remained stable this week (5.13-17), with little change in price compared to the previous weekend. As of the end of this week, the price of potassium chloride was quoted at 2516 yuan/ton, a decrease of 0.

2、 Market analysis

This week, the domestic potassium chloride market continued its previous consolidation trend, with a calm market performance. In terms of imports, the price of 60% potassium chloride is mostly between 2200-2500 yuan/ton. Due to the moderate arrival volume this month and the basic balance between supply and demand in the domestic market, there has been no surplus situation in the market, and the price remains rigid and strong. However, downstream factories generally have a resistance mentality towards high prices, and the current market is in a weak season. Most enterprises have replenished their inventory in the early stage, and the demand for compound fertilizer manufacturers is decreasing.

From the downstream market of potassium chloride, the performance of the downstream potassium fertilizer market is average, with price fluctuations varying and not significant. The market price of potassium carbonate has slightly declined this week, dropping from 7270 yuan/ton last weekend to 7250 yuan/ton this weekend, a decrease of 0.28%. The potassium nitrate market has slightly increased, with an increase of 0.251%. The price has risen from 4950 yuan/ton last weekend to 4975 yuan/ton this weekend. Overall, the downstream market for potassium chloride is sluggish, which may pose a constraint on potassium chloride in the later stage.

3、 Future Market Forecast

According to the data analyst from Business Society, the overall trend of potassium chloride market may continue to be weak in late May. The prices of potassium chloride in salt lakes and Zangge are temporarily stable. The downstream market of potassium chloride has temporarily remained sluggish, but with the weakening of agricultural demand in Northeast China and the weakening of potassium fertilizer demand, potassium chloride procurement may show a downward trend, and compound fertilizer factories mainly produce nitrogen fertilizer. Therefore, the price of potassium chloride remains sluggish.

According to the market analysis system of Business Society, the market for sodium acetate trihydrate has been operating steadily recently, with prices around 2216 yuan/ton.

Raw material end:

Sodium acetate raw material soda ash has been affected by summer maintenance, resulting in a continuous decline in production, but still at a high level. Downstream glass production and sales are favorable.

In terms of raw material acetic acid: The continuous decline in inventory of acetic acid enterprises in the early stage, coupled with factors such as factory equipment failures and load reduction, has pushed up the price of acetic acid. The overall trading atmosphere in the later stage of the market showed a slight decline, with limited follow-up and price stability as the main focus.

Market forecast: There is no positive support for the raw material side, and it is expected that the sodium acetate market will operate in a volatile manner. The specific situation still depends on market supply and demand.

According to the Commodity Market Analysis System of Business Society, the domestic price of sodium metabisulfite remained stable and advanced 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 2166.67 yuan/ton, indicating overall stability.

Affected by the overall stabilization of upstream raw material prices, the domestic market price of sodium metabisulfite remained stable and advanced this week. The market price range for industrial grade sodium metabisulfite is between 2100 and 2200 yuan/ton, with most prices concentrated around 2100 yuan/ton. The inventory of the enterprise is about 30%, and the overall supply of sodium metabisulfite in the market is tight. 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.).

This week, the overall price of domestic soda ash remained stable, with sulfur prices falling by 6.76%. The overall increase in soda ash prices has stabilized, while sulfur prices have slightly decreased. Upstream raw material costs have shown a fluctuating downward trend, and cost fluctuations will exert certain pressure on the future market price of sodium metabisulfite.

Future Market Forecast

Analysts from Business Society believe that the domestic price of soda ash has stopped rising and stabilized, while sulfur prices have slightly decreased. Under the pressure of cost fluctuations, the domestic market price of sodium metabisulfite will continue to fluctuate slightly at the current level in the short term.

Price trend

According to the Commodity Market Analysis System of Shengyishe, as of May 15th, the average market price of methyl acetate was 4462 yuan/ton, which is the same as last week.

In terms of cost

Methanol: Domestic methanol prices have increased this week. On May 15th, the price of methanol was 2828 yuan/ton, and on May 8th, the price of methanol was 2654 yuan/ton, an increase of 6.5% from last week. Part of the methanol units on the supply side were repaired as scheduled, and some units unexpectedly shut down, resulting in overall tight supply. Traders have a strong sentiment of price support, mainly driving the upward movement of the mainland market.

Acetic acid: The domestic price of acetic acid has increased this week. On May 15th, the price of acetic acid was 3400 yuan/ton, and on May 8th, the price of acetic acid was 3300 yuan/ton, an increase of 3% from last week. At present, the operating rate of acetic acid enterprises has returned to a relatively high level, and the supply of goods from suppliers is sufficient. The demand for downstream PTA and EVA, as well as the export volume of acetate, have increased simultaneously. Under the resonance of supply and demand, the price of acetate has risen.

Future Market Forecast

Overall, upstream methanol and acetic acid continue to rise, but the performance of the methyl acetate market is poor. In terms of demand, terminal consumption is slow, downstream purchases are followed up on demand, and the demand side continues to be bearish. It is expected that the methyl acetate market will remain stagnant and consolidate in the short term.