According to monitoring data from Business Society, starting from November, bearish factors dominated the market, resulting in poor terminal demand and a significant decline in the market. On November 1st, the average market price of hydrogen peroxide was 1150 yuan/ton. On November 24th, the average market price of hydrogen peroxide was 900 yuan/ton, with a price drop of 21.74%.

Poor terminal demand, continuous decline in hydrogen peroxide market

Since November, the stock market in the terminal paper and printing industries has ended, with a decline in hydrogen peroxide orders and average market transactions. Hydrogen peroxide manufacturers have lowered their factory prices one after another, resulting in a significant drop in hydrogen peroxide prices. The market average price has dropped to 950 yuan/ton, with a daily drop of 200-300 yuan/ton, a drop of nearly 18%. As the end of the month approaches, the hydrogen peroxide market continues to decline, with the average market price dropping to 900 yuan/ton, a decrease of over 21%.

Li Bing, a chemical analyst at Business Society, believes that terminal demand is flat, and the market for hydrogen peroxide will continue to decline in the future.

1、 Price trend

According to data monitored by Business Society, as of November 23, the average price of domestic industrial grade premium cyclohexane was 7433.33 yuan/ton. Recently, the price of cyclohexane has been operating in a narrow and weak range, with a slight decrease in price. Compared to the beginning of this week, the price has decreased by 0.45%, with a decrease of about 50 yuan/ton. Compared to the same period last month, the price has decreased by 1.76%, with a decrease of about 100 yuan/ton. Currently, the mainstream price of cyclohexane is maintained at around 7500 yuan/ton.

2、 Market analysis

The focus of negotiations in the domestic cyclohexane market has shifted downwards. Currently, the inventory of cyclohexane is high, and the situation of oversupply is evident. Downstream follow-up is slow, and procurement lacks enthusiasm. It is mainly based on purchasing and using, and the willingness to hoard goods is not strong. The overall market transaction atmosphere is cold, and the overall cyclohexane market is operating under pressure. Currently, the mainstream transaction price is concentrated at around 7500 yuan/ton. This week, cyclohexane is in weak consolidation and operation, with weak cost support, The listing price of upstream pure benzene has been lowered by Sinopec. Currently, the manufacturer’s quotation range is around 7493-7750 yuan/ton. The overall trend of pure benzene is stable, medium to weak, and the overall market trading is light. Downstream solvent customers have a cautious wait-and-see attitude, mainly focusing on small orders.

In terms of supply: The operating rate of cyclohexane has been stable this week, and the company’s maintenance plan has not been announced. The supply of goods is sufficient, and downstream demand is weak. Currently, inventory is high and there is some pressure on inventory. Downstream procurement is mainly focused on small order contract customers. Overall, the cyclohexane market has sufficient production this week, but downstream demand is weak, and shipments are slow. The overall device is operating steadily, and inventory consumption is slow.

In terms of cost: Currently, the international crude oil futures prices are declining. As of November 22, the settlement price of the main WTI crude oil futures contract in the United States was at 77.10 US dollars/barrel, a decrease of 0.67 US dollars or 0.9%, while the settlement price of the main Brent crude oil futures contract was at 81.96 US dollars/barrel, a decrease of 0.49 US dollars or 0.6%. The overall market is showing a downward trend, and the domestic pure benzene market prices are mainly subject to narrow and weak fluctuations as of November 23, The domestic price of pure benzene ranges from 7493 to 7750 yuan/ton, and some companies have lowered their prices. Currently, the cost support for raw materials in the cyclohexane market is limited, and factory prices have declined narrowly.

3、 Future Market Forecast

Cyclohexane analysts from Business Society believe that there is limited support for cyclohexane raw materials, weak downward trend in crude oil futures prices, and limited room for price increase in pure benzene. Currently, downstream demand for cyclohexane is insufficient, mainly with a small number of orders. The overall market shipments are slow, coupled with high inventory levels, high unit operating rates, and a clear oversupply situation. It is expected that in the short term, the market price of cyclohexane will be narrow and weak, and it will be sorted and operated, The fluctuation range is around 50-100 yuan/ton.

According to the analysis system of the commodity market of the Business Society, as of November 22, the average price of high-quality rubber grade white carbon black in China was 6000 yuan/ton. This week, the market price of white carbon black remained stable, with the current mainstream price around 6000 yuan/ton.

This week, the market price of white carbon black remained stable, with a mainstream price of around 6000 yuan/ton. The negotiation atmosphere was decent, with downstream procurement being the main demand and average demand. The enthusiasm for stocking up was not strong, and manufacturers were mainly willing to offer discounts and take orders. The number of new orders was limited.

Chemical Index: On November 21, the chemical index stood at 868 points, an increase of 1 point compared to yesterday, a decrease of 38.00% from the cycle’s highest point of 1400 points (2021-10-23), and a 45.15% increase from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

Business Society’s white carbon black analyst believes that in the short term, the white carbon black market is stable and weak.

1、 Price trend

According to the Commodity Analysis System of Business Society, the domestic market for imported potassium chloride has temporarily stabilized this week, with the price of potassium chloride at 3062.50 yuan/ton, a year-on-year decrease of 16.86%. On November 20th, the potassium chloride (imported) commodity index was 97.22, unchanged from yesterday, a decrease of 44.32% from the cycle’s highest point of 174.60 points (2022-06-21), and an increase of 66.90% from the lowest point of 58.25 points on August 6th, 2020. (Note: The cycle refers to the period from March 1st, 2012 to present)

2、 Market analysis

The prices of mainstream domestic potassium chloride distributors are temporarily stable this week. The arrival price of 60% white potassium in Qinghai is around 2800-2850 yuan/ton, and the self raised price of 62% white potassium in ports is around 2950-3000 yuan/ton. The self raised price of 60% Dahong granules at the port is around 3000-3150 yuan/ton. Border trade accounts for 62% of Russian white potassium at around 2800-2900 yuan/ton.

From the downstream market situation of potassium chloride, the price of potassium carbonate in the market has slightly increased this week, from 7500.00 yuan/ton at the beginning of the week to 7520.00 yuan/ton at the weekend, an increase of 0.27%, and the weekend price has decreased by 18.04% year-on-year. The market price of potassium nitrate slightly increased this week, rising from 5425.00 yuan/ton at the beginning of the week to 5437.50 yuan/ton at the weekend, an increase of 0.23%. The weekend price fell by 7.05% year-on-year. Overall, the downstream market for potassium chloride has slightly increased, and downstream customers’ demand for potassium chloride has increased.

3、 Future Market Forecast

In late November, the overall trend of potassium chloride market may fluctuate and rise in a narrow range, with consolidation being the main trend. The prices of potassium chloride in salt lakes and Zangge are temporarily stable. The downstream market of potassium chloride has slightly increased, and downstream demand has increased, with primary demand for procurement. The circulation of potassium chloride is tight, and the supply of goods at the port has slightly increased. Analysts from the Business Society believe that domestic potassium chloride import prices may slightly increase in the short term.

This week (11.13-17), the domestic polycrystalline silicon market stopped falling and stabilized. According to the Commodity Market Analysis System of the Business Society, the fluctuation range of polycrystalline silicon is 0. At present, the mainstream range of single crystal dense materials with a model of first grade solar energy has dropped to 60-70000 yuan/ton.

On the supply side, silicon material manufacturers maintain a reasonable level of operation, and new production capacity is gradually released, achieving mass production. Domestic supply is stable, and the market is in a process of destocking. The overall production of silicon materials this month has slightly increased compared to last month, and the supply pressure has slightly eased. Moreover, silicon material manufacturers are slowing down their shipping speed, making it difficult for their prices to improve and maintain a low operating level.

From the perspective of downstream silicon wafers, the operating load of silicon wafer enterprises remains low, mainly due to the inventory backlog of manufacturers in the early stage and the slowdown in downstream procurement. The inventory level of silicon wafers continues to operate at a high level to continue digesting inventory. Currently, the inventory level is gradually returning to a reasonable level, and the procurement intensity may rebound in the later stage. The quotation for silicon wafers remained unchanged this week and remained unchanged from last week. The mainstream transaction price of the M10 single crystal silicon chip is 2.40 yuan per chip; The mainstream transaction price for G12 single crystal silicon wafers is 3.40 yuan per chip.

From the perspective of terminal demand, the prices of battery cells and components continue to hang upside down, with battery cell prices mainly stabilizing this week. The average price of single crystal M10 battery cells is 0.46 yuan, while the average price of G12 battery cells is 0.52 yuan. Although the domestic installation rate is basically stable, external orders have decreased and overall terminal demand has slowed down.

Future forecast: Polycrystalline silicon analysts from Business Society believe that the silicon material market will continue to maintain a destocking mode in the short term, but the inventory pressure of manufacturers will gradually be eased, and the decline in the future will further narrow. Due to insufficient demand increment, weak operation may continue to dominate in the later stage.