The domestic propane market fluctuated and rose in November. According to data monitoring by Business Society, the average price of propane in Shandong’s market was 5490 yuan/ton on November 1st, and 5688 yuan/ton on November 28th, with a monthly increase of 3.6%, an increase of 0.28% compared to the same period last year.

As of November 28th, the mainstream prices of propane in different regions of China are as follows:

Region/ November 28th

East China region/ 5400-5550 yuan/ton

North China region/ 5600-5750 yuan/ton

Shandong region/ 5550-5650 yuan/ton

Northeast region/ 5500-5700 yuan/ton

In November, the domestic propane market first rose and then fell, with an overall increase. In early November, the on-site inventory of Shandong propane market was low, and the sales were smooth. With a sudden drop in temperature, downstream markets actively entered the market, while upstream prices rose. With the rise of propane prices to a high level, downstream resistance is evident, and there is a rebound in the increase. Entering mid November, the northern region experienced a surge in civilian demand due to the winter season, which steadily increased and supported the propane market. At the same time, chemical demand remains at a normal level, market supply and demand remain at a good level, downstream actively enters the market, and market prices remain stable. In late November, propane prices began to slightly decline, with downstream investors seeking dips and upstream investors adjusting flexibly, with a slight downward adjustment being the main focus.

Saudi Aramco announced its CP in November 2023, with propane at $610 per ton, an increase of $10 per ton compared to the previous month; Butane costs $620 per ton, an increase of $5 per ton compared to the previous month.

Overall, with the upcoming release of the CP in December, there will be a concentration of imported propane arriving at the port in the future. Due to weak demand and weak price increases, we will closely monitor the dynamics of the external market. It is expected that the propane market will experience a narrow consolidation and operation in the short term.

Commodity Market: According to the Commodity Market Analysis System of Business Society, the mainstream market trend of polyacrylamide (CPAM, cationic, molecular weight 12 million, 10-30 ionic degree) in China this week was mainly weak. On the 27th, the market reported around 13340 yuan/ton, and on the 20th, it reported around 13400 yuan/ton, with a price drop of 0.45%. The price of raw material acrylonitrile has risen, while the price of acrylic acid has remained stable overall. The cost of polyacrylamide has also increased overall. Enterprises in the main production areas are operating normally, and the market supply is abundant. Downstream demand is weak, and commodity circulation is slow. The mainstream market trend of polyacrylamide is mainly weak and consolidating.

Raw material acrylonitrile: According to the commodity market analysis system of Business Society, the acrylonitrile market has risen this week. According to the commodity market analysis system of Shengyishe, as of November 27th, the bulk water price of acrylonitrile in the market was 10175 yuan/ton. At present, the mainstream price for self pickup of acrylonitrile in the market is between 10000 to 10300 yuan/ton. The prices of raw materials have fluctuated slightly, and the support of costs for acrylonitrile has weakened slightly; The main downstream ABS production is basically stable; The production of acrylonitrile units has slightly decreased, and there is basically no pressure on the supply and demand side. The acrylonitrile market is in urgent need of inquiry support.

Raw Material Acrylic Acid: According to the Commodity Market Analysis System of Business Society, the acrylic acid market has fluctuated and stabilized in a narrow range this week. As of November 27th, the average price of acrylic acid in the East China region is 6125 yuan/ton. At present, cost pressure still exists, and the supply side has some support for the market. However, downstream purchases are only in demand, and the market atmosphere is average. It is expected that the acrylic acid market will remain stagnant and consolidate in the short term.

Liquefied natural gas for production. According to the Commodity Market Analysis System of Business Society, the domestic liquefied natural gas prices have continued to rise this week. At present, the domestic cold air is coming, and the demand for downstream replenishment is increasing. Under the policy of adding upper limit gas supply, the market supply is shrinking, driving the continuous rise of liquid prices. In terms of sea and gas, prices at some receiving stations have slightly increased. It is expected that the domestic liquefied natural gas prices will be strong in the short term.

Market forecast: This week, raw material prices will slightly increase, fuel prices will rise, and the overall cost of polyacrylamide will rise. On the supply side, enterprises in the main production areas have normal production and sufficient market supply; On the demand side, downstream procurement and supply remain flat, with little change in market transactions. The weak trend of polyacrylamide market is mainly consolidation. It is expected that domestic polyacrylamide sorting will be the main focus in the near future.

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.