5Month polyether market review
5The domestic polyether market fluctuated in a range in the first half of the month, with small rises and rapid declines in the first ten days, and stalemate in the second ten days. During May Day, due to the hydrogen peroxide explosion incident of Luxi Chemical Industry Co., Ltd., the raw material cyclopropane, the restart of some HPPO process cyclopropane units was delayed, and Wanhua Chemical’s 30/650,000 tons of annual production capacity of PO/SM was successively shut down for maintenance, and the supply of cyclopropane was tightened. , to support the price rise, and the cost of polyether factories is under pressure to chase up. However, with Jincheng Petrochemical’s 300,000-ton/year propylene oxide and supporting 900,000-ton/year hydrogen peroxide device being sold abroad, the overhaul device has resumed, and the supply of cyclopropane has increased significantly, while the downstream demand momentum is still weak, and the effective demand has not yet completely released. Coupled with the US Covestro’s polyether bidding in Hong Kong and the continuous wide decline of related foam raw material TDI in the second half of the month, the polyether market has fallen significantly in line with the negative attitude of the industry.
6monthly polyether market forecast
Cost: Qixiang Tengda announced on May 30 that it will build a 300,000-ton/year propylene oxide project in four years The production line of the project has been completed, the installation process has been fully connected and qualified products have been successfully produced, achieving a successful start-up. After the project is put into operation, the production capacity of Qixiang Tengda’s propylene oxide products will reach 300,000 tons per year, and the load will be gradually increased in June; Jiahong New Materials will be put into production on June 10, and it is expected to produce products on June 15; Wanhua PO/ The SM (30/650,000 tons/year) unit will be shut down for maintenance on May 8 (for about 45 days) and is expected to be restarted; the Zhenhai Phase 1 unit is expected to restart around June 17; Zhejiang Petrochemical PO/SM (27 /600,000 tons/year) The new device is put into production in the middle of the month. The supply of cyclopropane has increased significantly compared with May, and the shrinkage is only in Jiangsu Yida, or it will be shut down for about 7-10 days. The demand support is limited, and the price is expected to continue to decline. .
Supply side: Hangjin Technology and Binhua have restarted and lifted their burdens one after another; Zhejiang Petrochemical’s 5000 and 6000 molecular weight high resilience is for sale; the United States Covestro’s soft foam polyether will be supplemented in Hong Kong, with a relatively large price advantage and mainly supply increase.
Demand side: The activity of the national real estate market has declined, and the market is still facing downward pressure. Downstream demand for polyurethane is recovering slowly and weakly: sponges continue their off-season in hot weather; the auto market is recovering moderately, with significant export contributions; the minimum quantity of waterproof runway is limited; The demand is average, and it is shifted to stocking up in the early stage of consumption, and as the temperature rises, the subsequent construction will be affected. On the whole, the demand for soft and hard foam downstream industries is stable and slow.
Comprehensive: It is expected that domestic polyether bidding will be fierce in June, and the market may fall further.
微信扫一扫打赏
