1、 Price trend

Taking sulfuric acid based rutile titanium dioxide, which has a large volume of sales in the domestic market, as an example, according to data monitoring by Business News, the average price of domestic titanium dioxide last Monday was 17300 yuan/ton, while this Monday’s average price was 17266.67 yuan/ton. The daily price decreased slightly within 7 days, with a magnitude of 0.19%.

2、 Market analysis

The domestic titanium dioxide market has slightly declined. Overall, the situation is still dominated by foreign trade orders, while the domestic terminal market situation is relatively light. At present, the transaction situation of new orders is not good, and there is a strong wait-and-see sentiment in the market, resulting in reduced demand. Major manufacturers often observe the pricing policies of leading manufacturers, and currently the main focus is on stability in various markets. As of now, most domestic quotations for rutile titanium dioxide are between 16700-18600 yuan/ton; The quotation for anatase titanium dioxide is around 15000-15500 yuan/ton; The quotation for chlorinated titanium dioxide is around 19600 yuan/ton. The actual transaction price is negotiated separately.

In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region has slightly decreased. Downstream titanium dioxide enterprises have average market conditions and poor market demand, so they are more cautious in purchasing. As of now, the tax-free quotation for grade 38-42 titanium ore is around 1460-1480 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2100-2200 yuan/ton, and the quotation for grade 47 20 titanium concentrate is around 2350-2480 yuan/ton. In the short term, the market price of titanium concentrate is weak and stable, and the actual transaction price is negotiable.

In terms of sulfuric acid, the domestic sulfuric acid market price has increased. According to data monitoring from Business Society, the average price of sulfuric acid was 262 yuan/ton last Monday, and 267 yuan/ton this Monday, with a price increase of 3.05%. The upstream sulfur market has recently slightly increased, with increased cost support. The downstream hydrofluoric acid market has stabilized at a high level, while the titanium dioxide market has slightly decreased. Downstream customers have average enthusiasm for purchasing sulfuric acid.

3、 Future Market Forecast

Business Society Titanium Dioxide Analyst believes that currently, the price of titanium concentrate in the Panxi region has slightly decreased, and upstream raw material support is limited. The downstream market situation is light, and market confidence is insufficient. Buying up or not buying down implies a stronger trend, and most enterprises are watching the latest price policies of major manufacturers. It is expected that the titanium dioxide market will operate weakly and steadily in the short term, and the actual transaction price will be negotiated separately.

Wide consolidation of plasticizer DOTP prices in November

According to the Commodity Market Analysis System of the Business Society, as of November 10th, the price of DOTP was 11450 yuan/ton, an increase of 1.78% compared to the fluctuating price of 11250 yuan/ton on November 1st. In November, the price of isooctanol rose and fell sharply, and PTA prices fluctuated and consolidated. Under the influence of cost factors, the price of DOTP in November adjusted widely.

PTA prices fluctuated and consolidated in November

According to the Commodity Market Analysis System of the Business Society, on November 10th, the PTA price was 5888 yuan/ton, a fluctuating decrease of 0.83% compared to the price of 5937 yuan/ton on November 1st. The chemical fiber market is operating in a weak state, with a general trading atmosphere and poor demand for PTA. Crude oil prices have fluctuated and decreased significantly, resulting in a decrease in PTA costs. PTA prices have been volatile and consolidated in November.

The price of isooctanol skyrocketed and plummeted

According to the quotations from major isooctanol manufacturers, it can be seen that in November, the price of isooctanol continued its downward trend in October, and the quotations from major isooctanol manufacturers plummeted by 400 to 600 yuan/ton. This week, the prices of isooctanol manufacturers rebounded significantly; On November 10th, the price of isooctanol decreased by 200 to 300 yuan/ton. In November, the price of propylene first fell and then surged, with a wide adjustment in the cost of isooctanol. Downstream plasticizer companies started at a low level, resulting in poor demand for isooctanol and a wide adjustment in the price of isooctanol.

Future expectations

Analysts from Business Society’s plasticizer product data believe that in November, PTA prices first fell and then rose, while the prices of isooctanol and plasticizer DOTP were broadly consolidated; The plastic market is weak, and downstream customers have poor purchasing enthusiasm. The demand for plasticizer DOTP remains weak. Overall, raw materials have surged and fallen sharply, while demand remains weak. It is expected that the price of plasticizer DOTP will consolidate broadly in the future.

According to the Commodity Market Analysis System of the Business Society, the domestic aggregated MDI market has risen in a narrow range. From November 2nd to 9th, the domestic aggregated MDI market price increased from 15783 yuan/ton to 16250 yuan/ton, with a price increase of 2.96% during the cycle, a month on month increase of 1.04%, and a year-on-year increase of 12.46%. The domestic aggregated MDI market is relatively strong and follows suit, but the overall fluctuation is limited. Supply side production enterprises are reducing their supply, and there is stage price support. However, the overall consumption capacity of the demand side is weak, and the demand in some industries is significantly lower than in the early stage, limiting the growth of aggregated MDI.

On the supply side, maintenance of the 600000 ton/year unit at Shanghai MDI factory began on November 16th, with distillation shutdown for about two weeks and synthesis maintenance until mid December. The 400000 ton/year device at Chongqing MDI factory is scheduled for maintenance in early December. In addition, there are rumors in the market that the Ningbo factory has maintenance plans. The supply side is shrinking, but there is still room for improvement. The supply side is influenced by favorable factors.

On the cost side, the raw material of pure benzene is rising and falling in the domestic pure benzene market. East China ports have slightly accumulated inventory, and crude oil futures have fluctuated and declined, resulting in insufficient support for pure benzene. As of November 9th, the benchmark price of pure benzene for Shangshang Society is 7850.50 yuan/ton. Raw material aniline: The domestic aniline market has rebounded and reorganized, with smooth shipments from aniline factories and some factories undergoing maintenance. The spot sales of aniline have decreased, resulting in a tight supply. As of November 9th, the benchmark price of aniline in Shangshang Society is 12300.00 yuan/ton. The cost of aggregating MDI is mixed.

On the demand side, the follow-up of demand orders is relatively weak. As the temperature in the north gradually cools down, the overall demand for insulation materials such as spraying, plates, and pipelines has weakened, and the on-site consumption capacity has weakened. However, with the arrival of the Double Eleven and Double Twelve E-commerce Festivals, there is still some support for the follow-up atmosphere in the refrigerator and freezer industry. Overall, downstream demand follow-up is relatively limited, and the market is slow to follow up. The short-term aggregate MDI demand side is influenced by favorable factors.

In the future market forecast, after the price increase, traders’ willingness to ship will increase, and the market atmosphere will be good. Business Society MDI analysts predict that the domestic aggregated MDI market is mainly slow to follow up.

According to the Commodity Market Analysis System of the Business Society, the formaldehyde market in Shandong has recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1193.33 yuan/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1196.67 yuan/ton, a decrease of 0.28%. The current price has decreased by 13.49% compared to last year.

formaldehyde

Recently, the price of formaldehyde in the Shandong region has fluctuated and declined. From the above chart, it can be seen that the formaldehyde market has mainly fluctuated slightly in the past two months, with a decline this week. As of November 8th, the mainstream market price in Shandong region is 1100-1260 yuan/ton. This week, the price of raw material methanol fluctuated and consolidated, with average cost support. The formaldehyde market has light trading volume, manufacturers are facing difficulties in shipping, inventory pressure is high, and the market has slightly declined.

Upstream methanol situation: narrow range consolidation and operation in the domestic methanol market. Last night, the Shanxi coking plant was shut down for maintenance, and the coal price fluctuated weakly, with no cost support for the market. Domestic supply is gradually recovering, and downstream demand may change or be limited. Methanol analysts from Business Society predict that the domestic methanol market may be in a weak position to consolidate and operate.

Recently, the methanol market has been weak and consolidating, with poor cost support. Downstream panel factories have weak demand and weak procurement. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the price of formaldehyde in Shandong will mainly decline in the near future.

1、 Price trend

According to the Commodity Analysis System of Business Society, the domestic market price of isobutyraldehyde slightly decreased this week. This week, the average price of isobutyraldehyde in the mainstream domestic market dropped from 8300.00 yuan/ton at the beginning of the week to 7933.33 yuan/ton at the weekend, a decrease of 4.42%, and the weekend price decreased by 16.10% year-on-year. On November 7th, the isobutyraldehyde commodity index was 39.26, a decrease of 0.33 points from yesterday, a decrease of 62.81% from the cycle’s highest point of 105.58 points (2021-09-16), and an increase of 30.35% from the lowest point of 30.12 points on October 7th, 2022. (Note: The cycle refers to the period from September 1st, 2021 to present)

2、 Market analysis

From the supply side perspective, the prices of mainstream manufacturers of isobutyraldehyde have slightly decreased this week, resulting in low inventory.

From the perspective of the upstream and downstream industrial chains, the propylene market in the upstream raw material market of isobutyraldehyde has slightly declined this week, with prices dropping from 7100.75 yuan/ton at the beginning of the week to 6958.25 yuan/ton at the weekend, a decrease of 2.01%, and a year-on-year decrease of 0.60% at the weekend. The upstream raw material market prices have slightly declined, with insufficient cost support. Affected by the supply and demand side, it has a negative impact on the price of isobutyraldehyde.

From the perspective of the downstream industry chain, the market price of neopentyl glycol has slightly declined, dropping from 10600.00 yuan/ton at the beginning of the week to 10525.00 yuan/ton at the weekend, a decrease of 0.71%, and the weekend price has increased by 8.88% year-on-year. The market situation of neopentyl glycol has slightly declined, and downstream demand has weakened, which has a negative impact on isobutyraldehyde.

3、 Future prospects

In mid November, the trend of isobutyraldehyde market may fluctuate and decline. The downstream market for neopentyl glycol has slightly declined, and downstream procurement enthusiasm has weakened. The upstream propylene market has slightly declined, with insufficient cost support. Yishang Society’s isobutyraldehyde analysts believe that in the short term, the isobutyraldehyde market may experience a slight fluctuation and decline due to various factors such as supply and demand and raw materials.