1、 Price trend

According to the commodity analysis system of the business agency, the domestic isobutyraldehyde market price rose sharply this week. This week, the average price of domestic isobutyraldehyde mainstream market rose from 7433.33 yuan/ton at the beginning of the week to 9516.67 yuan/ton at the end of the week, up 28.03%. Weekend prices fell by 37.25% year-on-year. On May 8th, the isobutyraldehyde commodity index was 52.79, an increase of 4.48 points from yesterday, a decrease of 50.00% from the cycle’s highest point of 105.58 points (2021-09-16), and an increase of 75.27% 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, mainstream manufacturers of isobutyraldehyde have seen a significant increase in their quotations this week, resulting in low inventory. Some manufacturers have shut down for maintenance, resulting in tight supply.

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 7052.60 yuan/ton at the beginning of the week to 6962.60 yuan/ton at the weekend, a decrease of 1.28%. Weekend prices fell by 20.89% year-on-year. The price of upstream raw material market fell slightly, and the cost support was insufficient. Affected by the supply and demand side, the price of isobutyraldehyde was negatively affected. From the perspective of the downstream industry chain, the market price of neopentyl glycol fell slightly, and the market price rose from 10266.67 yuan/ton at the beginning of the week to 10766.67 yuan/ton at the end of the week, up 4.87%. The market situation of neopentyl glycol has slightly increased, and downstream demand has increased, which has a positive impact on isobutyraldehyde.

3、 Future prospects

The market trend of isobutyraldehyde in mid to early May may be mainly fluctuating and rising. The upstream propylene market has slightly declined, with insufficient cost support. The downstream market for neopentyl glycol has slightly increased, and downstream procurement enthusiasm has increased. Some manufacturers have shut down for maintenance, resulting in a tight circulation of isobutyraldehyde. Business Society isobutyraldehyde analysts believe that in the short term, the isobutyraldehyde market may experience slight fluctuations and gains due to various factors such as supply and demand and raw materials.

According to the Commodity Market Analysis System of the Business Society, the industrial grade first class potassium nitrate in Shanxi was reported at 5475 yuan/ton at the beginning of the week, while the industrial grade first class potassium nitrate in Shanxi was reported at 5425 yuan/ton at the end of the week, a decrease of 0.91%, a month on month decrease of 3.98%, and the current price has decreased by 24.48% compared to last year.

potassium nitrate

This week, the domestic potassium nitrate market fluctuated and fell. From the above chart, it can be seen that the recent potassium nitrate market has fluctuated slightly, and the market has continued to decline this week. Domestic potassium manufacturers have sufficient supply, with a slight increase in border trade sources. The arrival of goods is mainly concentrated in Lianyun Port, resulting in a decrease in prices. The potassium nitrate market has been trading coldly and the market has continued to decline. According to statistics from Business Society, mainstream domestic manufacturers of potassium nitrate quoted 5200-5700 yuan/ton this week (for reference only), and the prices vary depending on the procurement situation.

Recently, the prices of mainstream domestic potassium chloride manufacturers have fluctuated and fallen: on May 6th, the distribution price of potassium chloride by Anhui Badou Chemical Co., Ltd. was around 3300 yuan/ton, and the prices have remained stable temporarily. The actual transaction price is mainly negotiated. During the May Day holiday, the potassium fertilizer market did not have strong transactions. After the holiday, the market is currently dominated by bearish conditions, with low demand and abundant supply of potassium fertilizer, resulting in oversupply.

Recently, the domestic potassium fertilizer market has entered a low season with high inventory, and downstream purchases remain in demand. It is expected that the price of potassium carbonate will mainly decline in the short term, while the long-term market still needs to wait and see.

In mid to early April, the epoxy resin market continued to be sluggish, and towards the end of the month, due to the impact of rising raw materials, the epoxy resin market broke through and rose. At the end of the month, the mainstream negotiated price in East China was 14200-14500 yuan/ton of purified water for delivery, and the negotiated price in Mount Huangshan solid epoxy resin market was 13600-14000 yuan/ton. The final week will see an increase of around 500 yuan/ton.

In April, the dual raw materials increased in temperature, with strong cost support. The market for raw material bisphenol A has shown a significant upward trend. Prior to the holiday, due to tight supply and tight spot resources, the market quotation quickly exceeded 10000 yuan. At the end of the month, the negotiated price of bisphenol A in the market was 10050 yuan/ton, ranking among the top in the chemical industry’s rise and fall list. Holders have little intention of selling without pressure, but the downstream procurement pace has slowed down after the price rose to 10000 yuan. With the approaching holiday, the main demand for follow-up on actual orders on the market is limited, with fewer large orders. However, the upward trend of the bisphenol A market has a strong support for downstream epoxy resins.

The raw material epichlorohydrin also showed a significant increase in late April. On April 20th, the market negotiated a price of 8825 yuan/ton, and at the end of the month, the market negotiated a price of 8975 yuan/ton. Although the pre holiday trading was slightly weak, it still has a supportive effect on the downstream epoxy resin market from a cost perspective.

In the future, the epoxy resin market maintained a strong upward trend in early May. From a cost perspective, the main raw materials of epoxy resin, bisphenol A and epichlorohydrin, are still operating at high levels in the short term, and there is still some support from the cost perspective. From the perspective of supply and demand, the overall inventory pressure in the market is not significant, and factories and traders still have a mentality of sustained price increases; On the demand side, resin manufacturers have seen an increase in orders before the holiday and deliveries after the holiday, indicating a sustained and stable demand. At the end of May, there was a downward risk in the market. The supply side of Dongying Hebang’s 80000 ton/year liquid epoxy resin market was continuously negative, with an increase in market input. Zhejiang Zhihe’s 100000 ton/year epoxy resin new device was put into trial operation, and Jiangsu Ruiheng’s 180000 ton/year device was restarted. The supply side continued to increase, making it difficult for the demand side to make significant changes.

In summary, the domestic epoxy resin market may show a trend of first growth and then decline in May. The negotiated price for liquid epoxy resin in the market is between 14000 to 14700 yuan/ton for water purification, while the negotiated price for solid epoxy resin in the market is between 13600 to 14200 yuan/ton for delivery.

According to the Commodity Market Analysis System of Business Society, the price trend of acetic acid in April was fluctuating, with an average price of 3283.33 yuan/ton at the beginning of the month and 3233.33 yuan/ton at the end of the month. The overall decline during the month was 1.52%, and the price decreased by 24.10% year-on-year.

As of the end of the month, the details of acetic acid market prices in various regions of China in April are as follows:

Region/ April 3rd/ April 17th/ April 28th

South China region/ 3175 yuan/ton/ 3125 yuan/ton/ 3125 yuan/ton

North China region/ 3225 yuan/ton/ 3050 yuan/ton/ 3025 yuan/ton

Shandong region/ 3125 yuan/ton/ 3075 yuan/ton/ 3025 yuan/ton

Jiangsu region/ 3025 yuan/ton/ 3000 yuan/ton/ 3000 yuan/ton

Zhejiang region/ 3125 yuan/ton/ 3100 yuan/ton/ 3100 yuan/ton

At the beginning of the month, the maintenance equipment of acetic acid enterprises resumed production, and the supply of acetic acid increased. Downstream demand was sluggish, and manufacturers promoted a reduction in shipping prices, causing the focus of market transactions to shift downwards; In the middle of the year, the price of raw material methanol increased, and cost support was positive. Downstream follow-up was active, and acetic acid manufacturers’ shipments were smooth, and the price trend continued to rise; At the end of the month, downstream purchasing enthusiasm weakened, market transactions were light, and the acetic acid market consolidation declined.

The raw material methanol market has fluctuated and fallen, with an average domestic market price of 2423.33 yuan/ton at the end of the month, which is 5.27% lower than the price of 2561.67 yuan/ton on April 1st. The price of raw coal is relatively low, and there is a lack of favorable support on the cost side. The methanol market is abundant in terms of supply, and downstream purchasing follow-up is insufficient. The demand side is bearish, and the methanol price market is weak.

The downstream acetic anhydride market was relatively weak in April, with a price of 5450.00 yuan/ton at the end of the month, a decrease of 0.23% compared to the price of 5462.50 yuan/ton at the beginning of the month. The price of raw material acetic acid has fluctuated and decreased, cost support has weakened, acetic anhydride manufacturers are operating at a low level, market supply is insufficient, and the business attitude is wait-and-see. Enterprise quotations are mainly stabilizing, and the acetic anhydride market fluctuates in a narrow range.

Analysts from the Business Society believe that some acetic acid companies are operating at low levels due to cost pressures, with no inventory pressure from manufacturers, poor enthusiasm for downstream procurement on the demand side, insufficient transactions on the market, weak rise in the acetic acid market, and supply and demand stalemate. It is expected that the acetic acid market will mainly consolidate in the future, and specific attention will be paid to downstream follow-up changes.

1、 Price trend

Taking the sulfuric acid rutile titanium dioxide with a large volume of goods in the domestic market as an example, according to the monitoring of bulk commodity data, the average price of domestic titanium dioxide was 17116.67 yuan/ton on April 1, 16950 yuan/ton on April 27, and the monthly price decline was 0.97%.

2、 Market analysis

In April, the price of domestic titanium dioxide market was lowered. In early April, the market of titanium dioxide was relatively light, with more inquiries for new orders and fewer actual transactions. As companies gradually deliver preliminary orders, the inventory of titanium backup companies is under pressure, and some high-end model prices have slightly decreased. Later, Longqi took the lead in raising the price, and other enterprises gradually followed up to boost the current market confidence, and the titanium dioxide market operated steadily. Up to now, most domestic rutile titanium dioxide quotations are between 16000-17500 yuan/ton; The quotation of anatase titanium dioxide is about 14500-15000 yuan/ton.

In terms of titanium concentrate, the price of titanium concentrate in the Panxi region increased first and then decreased this month. At present, the titanium concentrate market is affected by upstream titanium powder enterprises, and market transactions are light. Be cautious and wait, as prices on the market shift from rising to falling. As of now, the tax-free quotation for grade 38 42 titanium ore is around 1550-1600 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2250-2280 yuan/ton, and the quotation for grade 47 20 titanium concentrate is around 2350-2400 yuan/ton. In the short term, the price of titanium concentrate will temporarily stabilize and operate, and the actual transaction price will be negotiated separately.

In terms of sulfuric acid, according to the commodity analysis system of the business community, the price of domestic sulfuric acid market rose first and then fell in April. The market price of sulfuric acid was 240 yuan/ton on April 1, and the average price was 218.33 yuan/ton on April 27. The price decreased by 9.03% within the month. Looking at the future market: In mid to early May, the domestic sulfuric acid market may experience a slight fluctuation and decline, with consolidation being the main trend. Although the downstream hydrofluoric acid market has slightly increased, downstream procurement enthusiasm for sulfuric acid is good. However, the upstream sulfur price has significantly decreased, and cost support is severely insufficient. Business Society sulfuric acid analysts believe that in the short term, the sulfuric acid market may experience slight fluctuations and declines due to various factors such as supply and demand and raw materials, with consolidation being the main focus.

3、 Future Market Forecast

Analysts from titanium dioxide business agency believe that the price of titanium concentrate in Panzhihua Xichang region rose first and then fell this month, and the price of sulfuric acid market rose first and then fell in April. The cost support of titanium dioxide is acceptable. At present, the domestic titanium dioxide market turnover is light, and the export order performance is acceptable. It is expected that titanium dioxide will operate stably in the short term, and the actual transaction price will be discussed separately.