According to the Commodity Market Analysis System of Shengyi Society, the domestic market for 85% industrial grade formic acid experienced a slight upward trend before the holiday. As of January 24th, the price of 85% formic acid was 3000 yuan/ton, an increase of 1.69% from 2950 yuan/ton on January 1st; Compared to the same period last year, the price of 3150 yuan/ton decreased by 1.76%.

On the demand side: With the Spring Festival approaching, downstream formic acid suppliers are stocking up before the holiday, driving on-site transactions. Manufacturers are able to ship smoothly, reducing pressure on formic acid inventory and tightening supply, resulting in an upward trend in formic acid prices.

On the raw material side: Prior to the Spring Festival, the Chinese methanol market showed a range oscillation trend, with significant price fluctuations. The rise in international crude oil prices has boosted market confidence, but insufficient market demand at high prices and increased shipping costs have put pressure on the market. Enterprises offer discounts on shipments to maintain low inventory, while the port market remains relatively firm due to low shipment volumes.

The formic acid data analyst from Shengyi Society believes that pre holiday demand is improving, inventory pressure is easing, formic acid prices are rising, and companies are starting production after the holiday. Demand is expected to continue to rise, and the formic acid market is expected to operate strongly.

According to the Commodity Market Analysis System of Shengyi Society, the ex factory price of ethyl acetate in China was 5623.33 yuan/ton on January 23, which was the same as the previous trading day’s price. The cost support is relatively weak, downstream demand follows up, and suppliers have a wait-and-see attitude before the holiday. The price of ethyl acetate is running steadily.

Market analysis: The market for ethyl acetate remains stable. On the raw material side, the price of acetic acid is running weakly, and there is insufficient cost support; On the demand side, downstream domestic demand replenishment has increased, export orders have increased, and the overall market trading atmosphere is still acceptable; The enterprise adopts a wait-and-see attitude and the quotation runs smoothly.

In the future, the market for ethyl acetate raw materials will weaken, with negative news affecting the supply side and manufacturers’ export markets. Sales pressure is not high, and domestic downstream stocking is coming to an end. On site demand is limited, and it is expected that the price of ethyl acetate will continue to operate steadily before the holiday. Specific attention should be paid to changes in the upstream market and downstream follow-up.

According to the Commodity Market Analysis System of Shengyi Society, on January 21st, the reference price of cyclohexanone in the domestic market in Shandong was 8975 yuan/ton. Compared with the reference price of 8800 yuan/ton on January 1st, the price has increased by 175 yuan/ton, an increase of 1.99%.

From the Commodity Market Analysis System of Shengyi Society, it can be seen that from January to present (1.1-1.21), the overall domestic cyclohexanone market has shown a trend of “first falling and then rising”. In the first ten days, the center of gravity of the cyclohexanone market in Shandong continued to decline, with light trading and insufficient market support. The center of gravity of cyclohexanone negotiations in the market fell. On January 10th, the cyclohexanone market price in Shandong was around 8550-8700 yuan/ton, a decrease of 2.56% in the first ten days.

In the mid to late stage, the cyclohexanone market in Shandong began to recover, with the rise in raw material prices providing cost support for cyclohexanone. Downstream stock preparation for cyclohexanone was gradually started before the holiday, and the overall demand side improved. With the help of favorable factors, the cyclohexanone market rebounded from low levels and the low prices gradually disappeared. As of January 21st, the market price of cyclohexanone in Shandong region is around 8950-9100 yuan/ton, with a 4.66% increase in the latter half of the year.

Market analysis in the future

Currently, the raw material side is fluctuating at a high level, providing stable cost support for cyclohexanone. As the Spring Festival approaches, downstream stocking of cyclohexanone is gradually coming to an end, and there is little fluctuation in the market. The cyclohexanone data analyst from Business Society believes that in the short term, the domestic cyclohexanone market will mainly remain stable and operate, and more attention should be paid to changes in supply and demand.

Product Name: Isopropanol

Latest price: The market average price on January 20th was 6660 yuan/ton, unchanged from the previous trading day.

Analysis points: The isopropanol market is currently stable and operating. The upstream acetone market price is high, and the cost support is still acceptable. As the end of the year approaches, downstream market inquiries are average, market trading is cautious, and procurement is on demand. Overall, the market enthusiasm is still acceptable, and the focus of negotiations is mainly on maintaining stability.

It is expected that the isopropanol market will consolidate and operate within a certain range in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic sodium metabisulfite has fallen this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 1860 yuan/ton, and the average price over the weekend was 1856 yuan/ton, with a price drop of 0.18%.

This week, the domestic industrial grade sodium metabisulfite market prices have been weak and declining. The upstream soda ash prices of sodium metabisulfite have remained stable this week, while downstream market transactions have been light and prices lack favorable support. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily 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.).

Future forecast

At present, the transaction volume of sodium metabisulfite market is lower than expected, and it is expected that the domestic market price will mainly fluctuate and weaken in the short term.

According to the analysis system of Business Society, the domestic anhydrous hydrofluoric acid market has been operating weakly and steadily this month. As of January 15th, the benchmark price of hydrofluoric acid in Shengyi Society was 11500 yuan/ton, a decrease of -0.72% from the beginning of this month.

Supply side: In January, the domestic hydrofluoric acid market showed a weak and stable trend, and hydrofluoric acid plants started operating at a low level. As the end of the year approaches, the downstream refrigerant quota for 2024 has been exhausted, and factors such as insufficient demand follow-up have led to low supply of hydrofluoric acid, with an overall operating rate of around 60%. It is expected that new quotas will enter the market after the holiday, and terminal demand will gradually recover, resulting in an increase in operating rates.

Raw material side: This week, the price of raw fluorite remained weak and stable. The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. Although the rectification action is coming to an end, the affected area has not narrowed. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite sources is still tight. According to the analysis system of Shengyi Society, as of January 15th, the benchmark price of Shengyi Society’s fluorite was 3603.75 yuan/ton, a decrease of -0.52% compared to the beginning of this month (3622.50 yuan/ton).

The market price trend of raw sulfuric acid has declined. According to the analysis system of Shengyi Society, as of January 15th, the benchmark price of sulfuric acid in Shengyi Society was 385.00 yuan/ton, a decrease of -12.99% compared to the beginning of this month (442.50 yuan/ton). The upstream sulfur market of sulfuric acid is declining, and the cost price is decreasing. Downstream customers of sulfuric acid are not enthusiastic about purchasing sulfuric acid, and the sulfuric acid price market is falling. The domestic hydrofluoric acid market price trend is weak and stable.

On the demand side: As the end of the year approaches, downstream refrigerant quotas are depleted, factory operating rates have decreased, inventory remains low, but there is still a demand for stocking downstream, and market prices remain strong. According to the analysis system of Shengyi Society, as of January 14th, the benchmark price of Shengyi Society R134a was 37333.33 yuan/ton, an increase of 3.70% compared to the beginning of this month (36000.00 yuan/ton). The current market price for refrigerant R134a is mostly around 44000 yuan/ton. It is expected that after the Spring Festival, with the entry of new refrigerant quotas, downstream refrigerant companies may increase their procurement of hydrofluoric acid.

Market forecast: As the end of the year approaches, downstream refrigerant quotas will be exhausted, factory operating rates will decrease, and market demand will weaken. But with the introduction of new quotas after the holiday, downstream refrigerant companies may increase their procurement of hydrofluoric acid. It is expected that the hydrofluoric acid market will operate steadily with a moderate to strong trend next month, and more attention should be paid to the news of leading enterprises and market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic sodium metabisulfite remained stable this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 1853 yuan/ton, and the average price over the weekend was 1860 yuan/ton, with a price increase of 0.36%.

This week, the domestic market price of industrial grade sodium metabisulfite has slightly increased. The upstream soda ash price of sodium metabisulfite has remained stable this week, and the downstream market transactions have improved, supporting the slight increase in sodium metabisulfite prices. Sodium metabisulfite manufacturers are optimistic about the future market. (The above prices refer to the quotes provided by mainstream domestic enterprises, and some unreported enterprises are temporarily 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.).

Future forecast

At present, the sodium metabisulfite market is actively traded, and it is expected that the domestic market price will mainly fluctuate and strengthen in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price trend of acetic acid in December fluctuated, with a price of 2970 yuan/ton as of December 31. Compared with the acetic acid price of 2950 yuan/ton at the beginning of the month, the price has increased by 20 yuan/ton, with a monthly increase of 0.68%.

As of the end of the month, the market price details of acetic acid in various regions of China in December are as follows:

Region/ December 2nd/ December 16th/ December 31st

South China region/ 2775 yuan/ton/ 2775 yuan/ton/ 2875 yuan/ton

North China region/ 2815 yuan/ton/ 2825 yuan/ton/ 2885 yuan/ton

Shandong region/ 2850 yuan/ton/ 2830 yuan/ton/ 2870 yuan/ton

Jiangsu region/ 2575 yuan/ton/ 2615 yuan/ton/ 2755 yuan/ton

Zhejiang region/ 2675 yuan/ton/ 2710 yuan/ton/ 2875 yuan/ton

In early December, the price of acetic acid fell mainly due to psychological factors. It was heard in the market that Hebei enterprises had expectations of new equipment being put into operation, and the mentality of the industry was bearish. Coupled with weak downstream demand, the transaction center of the acetic acid market shifted downwards. In the second half of the year, positive market news was released, with acetic acid prices rising strongly. Supply side facilities in the southwest region were shut down for maintenance, while facilities in Guangxi were reduced in load. The on-site positive news was compounded, and factory quotations continued to increase. At the end of the month, downstream market demand weakened slightly, and the trading atmosphere in some regions was not good. In order to promote the pricing of shipping enterprises, the prices were slightly lowered.

The methanol market on the raw material side has fluctuated and risen. As of December 31st, the average price in the domestic market was 2758 yuan/ton, an overall increase of 8.42% compared to the beginning of the month price of 2544 yuan/ton. The supply side has shown strong performance this month, with changes in equipment in the main regions of the Middle East and expectations of reduced methanol import volume. Port methanol inventory is gradually entering the channel of destocking, and the market is dominated by a bullish mentality. Traders have a strong willingness to hold goods, and port methanol prices continue to rise; The expected shutdown of the Southwest Gas Head Methanol Plant in the later stage, coupled with favorable market conditions, has led to a synchronous increase in domestic methanol prices.

Market forecast: Business Society analysts believe that the inventory of acetic acid enterprises is currently low, and the sales pressure of manufacturers is not significant. The mentality of rising prices is strong, and downstream enterprises have low inventory. Follow up may increase after entering the market, and the market trading atmosphere is optimistic. It is expected that the acetic acid market will be strong in the future, and specific attention will be paid to downstream replenishment situation.

The market price of epichlorohydrin has fallen this week. As of December 31st, the benchmark price of epichlorohydrin in Shengyi Society is 9050.00 yuan/ton, which is the same as at the beginning of this month (9050.00 yuan/ton).

Price influencing factors:

On the raw material side, narrow range sorting of propylene is the main focus, while the market price of glycerol has risen. The cost side of epichlorohydrin is still under pressure. According to the market analysis system of Shengyi Society, as of December 31st, the benchmark price of propylene in Shengyi Society was 6840.75 yuan/ton, a decrease of -0.07% compared to the beginning of this month (6845.75 yuan/ton).

Supply side: Equipment situation: The overall operating rate of the epichlorohydrin industry is 50-60%. The market supply has increased.

Downstream demand side: Downstream mainly consumes inventory and purchases small amounts of replenishment as needed. The trading atmosphere for new orders is cold. Traders should maintain a mentality of buying up and not buying down, and be cautious and wait.

Market forecast: Analysts from Shengyi Society believe that the cost side prices are under pressure, and downstream inventory consumption is the main factor. They should purchase according to demand and purchase raw materials cautiously. In addition, some enterprises are expected to restart their facilities and increase their burdens. It is expected that there will be a slight fluctuation adjustment in the market price of epichlorohydrin in the short term, and more attention should still be paid to market price changes.