Market at the end of October: PO has not moved, PPG first

PO—Open high and go low

Cyproterene market went up strongly in early October. After the National Day, the downstream of cyclopropane just needed replenishment, and the order follow-up was good, and the market began to bottom out and rebound, rising steadily. However, Hongbaoli and Wanhua are still parked. The No. 14 hydrogen peroxide device of Fuqiang New Materials exploded unexpectedly. The total operating rate of cyclopropane in the market remains at about 70% (including the impact of power cuts), and most of the imported goods stay in the Yangtze River. port, the arrival time was later than expected, and they will arrive in Hong Kong at the end of October.

The overall supply shortage in the market has continued until the middle of the month. On the one hand, due to power cuts, on the other hand, Wanhua’s plant has not restarted smoothly, maintaining 10%-20% low-load operation; Hongbaoli’s plant is still running Parking status; the third line of Jishen is overhauled; the washing tower of the 40,000-ton cyclopropane plant of Hangjin Technology is temporarily shut down for one day. The price of raw material liquid chlorine continued to rise to 3,000-4,200 yuan/ton, once soaring to a record high, and the cost of the chlorohydrin process rose accordingly. Coupled with the support of good supply and inventory, cyclopropane continued to rise without pressure. As the price continues to advance, the downward resistance is strong, and the upward resistance is gradually becoming apparent. The pace of shipments of cyclopropane factories has begun to slow down, and the upward adjustment has been narrowed.

The high price at the end of the month continued to suppress demand. On the supply side, Wanhua’s load increased to about 50%, Hongbaoli and Fuqiang New Materials continued to be parked, and the third line of Jishen was recovering. Meizhou Bay The cyclopropane plant in the chlor-alkali industry was shut down, and the overall market supply has increased. However, the downstream continued to reduce purchases, and the positive support gradually weakened. To 17000-17100 yuan / ton. Stocking up near the end of the month, orders from polyether factories increased significantly, increasing the demand for cyclopropane, and the market activity became more active. The supply of cyclopropane is relatively stable, and manufacturers continue to report stable prices instead.

PPG—”N”-shaped trend

The polyether market was strong in early October. Most of the middle and lower reaches of the National Day are closed, and the market is quite deserted. The cyclopropane factory has poor shipments, and the cliff diving has started, with a cumulative drop of 1,400 yuan/ton. The purchase of polyether factories has decreased, and some offers have fallen. Returning after the festival, cyclopropane bottomed out and rebounded, supporting polyether to stop falling. Downstream inventories are exhausted and replenishments are being made one after another, and the market is highly active. Raw materials are limited and run at a low level, supply is slightly tight, and continues to rise. The actual market demand is average. Polyether continues to struggle to keep up with the rise, and the number of inquiries from polyether factories continues to decline.

The polyether market continued to be high in the middle of the month, and the downstream resistance was concentrated. It was difficult to follow up the orders of polyether factories. Standing on the sidelines, basically showing that there is a price but no market. The supply of polyether continued to narrow. On the 20th, the first-phase polyether unit of China Sea Shell was overhauled; Wanhua’s cyclopropane unit was not running smoothly, and the Hongbaoli unit had not yet restarted, resulting in a shortage of regional polyether supply; on the 21st, Hangjin Technology’s pop unit was affected Environmentally friendly parking.

Demand weakens next month, cyclopropane shipments are not smooth, and offers are lowered for shipments. The market is in a wait-and-see mood, and there is little reaction to the price drop of cyclopropane. The feedback of polyether orders is not good, the market guides downward, and the offer continues to fall. Afterwards, cyclopropane fell to a certain level, inquiries from polyether factories improved, the overall trading activity was not high, and the actual orders were not concentrated. Near the end of the month, there was a wave of demand for stocking downstream. The orders of polyether factories improved significantly, and the pressure on inventory was successfully transferred. With the stable report of cyclopropane, the market took the lead in boosting the market, and the quotations of various factories rose. Some polyether factories have closed orders or received orders under controlled quantity, and the downstream will continue to demand replenishment in the short term.