The price of n-Heptane continued to rise today. Due to the upward trend of the price of upstream core raw materials, there is still room for n-Heptane to rise in the short term. At present, Junyuan Petroleum Group has implemented the price adjustment of high purity of normal heptane. In the future, the raw materials of each normal heptane are based on the balance of supply and demand.
Today’s n-Hexane price focus, “n-Hexane fractionated from oil and gas is an important #pharmaceutical solvent and has broad potential in the international market. Thanks to the help of Qingdao Customs, we have opened the international market of n-Pentane, Isopentane, Pentane Foaming Agent, n-Hexane and n-Heptane.” David Zhang, sales manager of Junyuan Petroleum Group, introduced: “The export sales of n-Pentane, Isopentane, Pentane Blowing Agent, n-Hexane, n-Heptane and other solvent products continue to increase. Our export volume this year is expected to increase by 12,000 tons in 2022, accounting for more than one fifth of the annual output. Thanks to the strong support of Qingdao Customs, they have worked on site for many times, put themselves in the interests of Junyuan Petroleum Group and benefit enterprises with convenient policies, and gave us many preferential policies, which made us give more profits to our overseas end customers. ” In 2021, the export volume and value of n-Heptane produced by Junyuan petroleum group increased by 70.5% and 78.6% year-on-year.
In order to promote the smooth entry of n-Hexane into the markets of Southeast Asia, Africa and South America and promote the diversified development of China’s chemical industry, Qingdao Customs guided Junyuan Petroleum Group to strengthen the whole chain management of safety production, help it continuously improve the product quality management system and comprehensively improve the management level; Explain the declaration data, customs clearance process and territorial inspection requirements of export hazardous chemicals face to face; Actively help enterprises to contact the port customs and clarify the supervision requirements of dangerous chemicals at the port; Establish a professional chemical personnel assistance team, speed up the connection of various operation links, and implement the “7 × Make an appointment for inspection for 24 hours to achieve “Inspection at the appointed time, inspection and release at the appointed time”, so as to shorten the customs clearance time of enterprises to the greatest extent.
Octanes
The price of high purity heptane rose slightly today, high purity heptane prices rose 1.37%.
n-Heptane is a colorless and volatile liquid. It is mainly used as a standard for the determination of Octane number. It can also be used as anesthetics, solvents, raw materials for organic synthesis and experimental reagents , other applications include #Pharmaceuticals, #Paints & #Coatings, #Electronics, #Adhesives & #Sealants, #Plastic & #Polymers, #Laboratories.
According to the latest price list released by the marketing department, the prices of n-Pentane, Pentane Foaming Agent and n-Heptane products rose today, and the prices of other products remained unchanged.
n-Pentane, 95% (↑+1.52%), Blend Iso/n-Pentane (80 – 20%) (↑+1.48%)
, Blend Iso/n-Pentane (70 – 30%) (↑+1.48%)
, Blend Iso/n-Pentane (60 – 40%) (↑+1.48%,Blend Iso/n-Pentane (20 – 80%) (↑+1.52%)
, Blend Iso/n-Pentane (30 – 70%) (↑+1.52%)
, Blend Iso/n-Pentane (40 – 60%) (↑+1.52%), n-Heptane, 99% (↑+1.39%)
2022/01/11. USD TO CNY TODAY.
Actual USD to CNY exchange rate equal to 6.3735 Chinese Yuans per 1 Dollar. Today’s range: 6.3665-6.3756. Previous day close: 6.3756. Change for today -0.0021, -0.03%. Inverse rate: CNY to USD. DOWN 6.3735 -0.03%
Closing Price (01/11/2022) : WTI 78.23 ↓-0.67 Brent 80.87 ↓-0.88
On January 10, the market price of n-Pentane, Isopentane, Pentane Foaming Agent, n-Hexane, n-Heptane, n-Octane and D series solvents, the upstream raw material naphtha was mainly stable, the market price of hydrocarbons was temporarily stable, the demand for downstream EPS foaming agent and refrigerator refrigerant increased, the operating load of manufacturers increased generally, the supply of Pentane Blowing Agent market was tight, and the market transaction was OK. The profits of Pentane Foaming Agent manufacturers increased. The market price is expected to remain stable. tomorrow.
◎ Chemical Hotspots
The market weighed the tight supply situation, the weaker than expected U.S. employment data and the outlook of the Federal Reserve’s monetary policy, and the international oil price closed down after rising sharply in the session. NYMEX crude oil futures 02 contract fell by US $0.56/barrel or 0.70% at 78.90; Ice oil distribution futures 03 contract 81.75, down $0.24/barrel or 0.29%.
◎ How does the sudden tension in Kazakhstan affect the crude oil market?
Due to the strong resistance of crude oil pipeline transportation to epidemic situation, bad weather and other factors, unless the pipeline is damaged or the input end of the oil field is damaged, the transportation capacity will remain stable. Therefore, the impact of the situation in Kazakhstan on China’s import of crude oil from Kazakhstan may be slight. Previous tensions in Myanmar similar to this incident failed to have a significant impact on the transportation of China Myanmar crude oil pipeline. The tension in Kazakhstan this time, unless the deterioration of the situation affects the facilities related to crude oil production and export, the impact on the international crude oil price may be very limited, and it will not restrict China’s normal crude oil import. Junyuan Petroleum Group will continue to pay attention to the follow-up progress of this event.
2022/1/09 09:55:48
Today, the price of n-Pentane, 95% increased by 1.54%, and the price of foam blowing agent products continued to rise as well. The products with high proportion of Isopentane of the Pentane Blends increased by 1.50%, and the Pentane foam blowing agent products with high proportion of n-Pentane increased by 1.54%.
The prices of n-Pentane and Isopentane foam blowing agents rose by 0.76% and 1.56% respectively today.
Market review from January to June 2021:
From January to June 2021, the domestic pentane foaming agent market showed an “m” trend, and the overall price was higher than that of the same period in previous years. The highest node is one week after May Day, and the price is 5800 yuan / ton. The lowest node is at the beginning of the year, and the price is 4500 yuan / ton, and the difference between high and low prices is 1300 yuan / ton.
The first stage: from January to mid March (price rise stage): the price of pentane foaming agent rises with the support of good cost and demand. On the cost side, the oil market is improving, and the price of raw material mixed C5 rises, which gives a certain rise support to the cost side; On the demand side, the downstream EPS is boosted by the rise of styrene. In addition, the terminal purchase is active, the EPS price rises, and the price receiving capacity of auxiliary materials is strengthened, giving pentane foaming agent some room for rise.
The second stage: from mid March to early April (price downward stage): the price of pentane foaming agent decreased rapidly due to the weakening cost side and the slowdown of downstream demand. On the cost side, crude oil rose in mid March and fell sharply, bulk commodities generally fell sharply, the raw material market fell, and the cost support was insufficient; On the demand side, the price of styrene has weakened significantly, the EPS market has fallen sharply, coupled
with the slow improvement of downstream packaging and insulation demand, the slow delivery speed of merchants, the obvious pressure on the finished product inventory of most EPS factories, the reduction and shutdown of some EPS factories in East and South China, and the overall transaction atmosphere of the market is insufficient.
The third stage: from early April to mid May (price upward stage): pentane foaming agent is supported by cost rebound, coupled with tight supply of some positive high models in the field, and the price is upward. On the cost side, boosted by the rebound in the oil market, the price of raw material mixed C5 rose; On the supply side, due to the slow price increase and pressure on the cost, pentane foaming agent continued to reduce the supply in some factory parking lots, and many companies mainly sold inventory; On the demand side, most downstream EPS demand models are positive high. In addition, the polyurethane industry has a strong demand for n-pentane monomer, the positive high models in the field are tight, and the price rises accordingly.
The third stage: from mid May to the end of June (price downward stage): the price of pentane foaming agent is downward due to the weakening cost, insufficient downstream demand and increased on-site supply. In terms of cost, due to the strict investigation of environmental protection, safety and taxation, the social oil activities are reduced. In addition, the use of mixed C5 decreases as the weather turns hot, the demand of raw material mixed C5 is restricted, the price is at the bottom, and there is no strong support for the cost of pentane foaming agent; On the supply side, the on-site supply increased, and Jiangsu Xinhai, Dongying Runze and zhongtuolihe added pentane supply, increasing the competitive pressure; On the demand side, the price of styrene fell sharply, the EPS market fell, the terminal merchants mainly replenished at different stages, and the overall delivery was cold. In addition, affected by the inspection, some factories were shut down for transformation or decline, the overall operation of EPS was insufficient, and the demand for pentane foaming agent decreased.
According to the statistics of internal chemical data of Junyuan Petroleum Group, the total output of pentane foaming agent in China from January to June 2021 was 139,500 tons, of which the output from April to June was 97,000 tons, a decrease of 11,100 tons compared with 108,100 tons in 2020.
The average profit of the domestic pentane foaming agent industry has declined continuously for nearly three years. The average profit from January to June 2021 was 186.45 yuan / ton, down 131.41 yuan / ton from 317.86 yuan / ton in 2020, and the average profit in 2019 was 550.45 yuan / ton, down 364 yuan / ton. At present, it is at the lowest profit level in recent three years.
The price of pentane foaming agent rose twice in a row today.
The prices of pentane foaming agent products adjusted twice today. The prices of products with larger propotion n-Pentane content in mixed pentanes have increased by 0.83% and 0.82% respectively. The prices of other foaming agents, pentane, hexane, heptane and octane products have not changed. In the last week, there were 10 products with rising prices, accounting for 67%, and 1 product with falling prices, accounting for 7%; 4 flat varieties, accounting for 27%; Among them, the top three products with price increase are Pentane Blowing Agent (↑ 1.67%), n-Pentane, 95% (↑ 1.59%), n-Hexane, 60% (↑ 1.33%), and n-Heptane, 99% (↓ – 6.58%) with the largest price decrease.
During the month, due to the spread of the new crown variant strain “Omicron”, and the effect of the existing vaccine against “Omicron” was not as good as that against the early new crown strain, the global financial and commodity markets fluctuated sharply, and many chemicals fell deeply. However, in the middle of the month, the national development and Reform Commission The Ministry of industry and information technology, together with relevant parties, jointly issued the implementation plan on Invigorating the operation of industrial economy and promoting high-quality industrial development. A series of measures to stabilize prices and ensure supply have gradually achieved results, and the downward trend of bulk commodities has gradually slowed down. In the second half of the month, with the continuous surge of European energy prices, crude oil has rapidly rebounded to a high level, and the rebound of energy and costs has increased the confidence of chemical products, The market of chemicals was strong at the end of the year, but on the whole, most of them still fell during the month.
n-Pentane: under the pressure of product cost, the prices of pentane manufacturers continue to rise; Subsequently, affected by the epidemic in Zhejiang, the delivery of Ningbo Juhua was blocked, and the load of the unit was reduced. Under the expectation that the on-site resources may be reduced, the mentality of the operators is acceptable, the inventory of the production enterprises is not under pressure, and some cargo holders are reluctant to sell, and the focus of negotiation is rising; With the price rising to a high level, the fatigue of the downstream demand side is becoming more and more obvious, and the on-site trading is slightly light. However, under the support of small inventory pressure, the market mostly maintains the trend of horizontal consolidation.
n-Hexane: in early January, the n-Hexane market continued to rise. On the one hand, the naphtha market fluctuated upward, the cost side actively pushed up, and n-Hexane followed up. On the other hand, tight supply and demand supported strong prices. At the beginning of the month, the start of n-Hexane decreased, the downstream market was bargain hunting and replenishment, and the center of gravity of n-hexane moved upward; Although some maintenance devices were restarted in the middle and late ten days, the on-site inventory was low, the export volume of main manufacturers was small, and the spot was tight. Near the Spring Festival and new year’s Day holidays, the downstream market had a tendency to prepare goods, and the procurement enthusiasm was OK. However, with the rise of n-Hexane price, the downstream resistance increased, the procurement slowed down, and the on-site was in a state of submission and investment at the end of the month.
n-Heptane: in December, the domestic market price of n-Heptane continued to fall. At the beginning of the month, the external market of butadiene was more stable than expected, the merchant’s mentality was supported, and the intention was to make an offer. However, the supply of goods in the market is abundant, and the spot transaction is slow, resulting in inventory accumulation. Sinopec’s supply price has been lowered continuously, gradually approaching the market price. The market price of domestic n-Heptane fell due to the superposition of multiple negative factors. In the middle of the month, the delivery of some slightly high price offers was not smooth, and the merchant offers followed the transaction price down. However, as the price of n-Heptane fell to a relatively low level, the downstream bargain hunting boosted the market, the transaction atmosphere improved slightly, and the decline of n-Heptane market slowed down. Some goods in the northern market were sold with a small price increase, and the mentality of merchants was supported to test the price increase shipment, but the downstream demand was limited. After a small rise in the market, it fell back and gradually fell to the lowest point of the year. In terms of supply, the n-Heptane unit is basically in normal operation this month. The manufacturer expects that the maintenance will be completed next month. In addition, the phase II unit will be put into operation soon, and the supply stock increment is expected. During the month, the arrival at the ship port increased, the trade volume in the tank farm circulated slowly, and the overall inventory was relatively high. Downstream procurement enthusiasm is not high, sporadic rigid demand exists, and the contradiction between supply and demand in n-Heptane market deepens. On the whole, the price competition between the internal and external markets intensifies, the self delivery of cans in Qingdao is gradually lower than the price in the external market, and the price difference still tends to expand. Moreover, the external market is affected by the decline of the domestic spot market, and there is still a downward trend under the continuous pressure of trading. Due to insufficient follow-up of downstream demand and continuous decline of inquiry price, it is difficult to find favorable support for n-Heptane market. It is expected that the domestic n-Heptane market price will continue the weak and volatile trend next month. On December 28, the price of n-Heptane decreased the most in the previous month, with a decrease of – 6.58%.
Pure Benzene: this month, the domestic pure benzene market rose and fell. At the beginning of the month, after the price of pure benzene fell, pure benzene rose with the shock due to the rebound of styrene. However, due to the high inventory operation in East China, the market was cautious, the buying was relatively light, the market was short, the price fluctuated and fell, and some of the early gains were put back. In the middle of the month, affected by the news that new downstream devices were about to enter the market for purchase, traders actively bought goods, which promoted the price rise. However, the new devices were not put into operation as scheduled, the market mentality quickly changed to caution, and the market price changed from rise to fall, mainly downward. In late June, the pure benzene market rebounded after falling. The external price of American Mobil unit rose sharply due to the fire, mainly in the domestic market. Its price rose rapidly. The impact of the health incident in the Yangtze River pilot center continued. The subsequent expected shipping schedule was delayed. The market was worried about the future supply, the on-site trading was positive, and the pure benzene market continued to rise. In the future, the external news surface, crude oil and pure benzene external disk support is better. In terms of supply and demand, in January, the demand for pure benzene is expected to increase before the downstream Festival and the new unit is put into operation. Due to the impact of the epidemic, it is difficult to pick up the goods at the port, and the operating rate of hydrogenated benzene may continue to increase. Pure benzene may continue to operate at a high level in the middle and first ten days of January, but the market may fall with the end of pre holiday preparation. It is expected that the overall trend of pure benzene Market in January will be strong first and then weak.
Junyuan Petroleum Group’s view: the global epidemic data continues to grow, there is no sign of slowdown, and the impact is still expanding. However, the domestic economy is currently in the transition stage from stable credit to wide credit, bulk commodities have formed a “policy bottom”, the expectation of the real estate market is gradually improving, the average interest rate of enterprise loans is at a record low, and the comprehensive financing cost of enterprises is steadily decreasing; Overseas, under the pressure of viruses and supply chain problems, US holiday season consumption hit a 17 year high. The increase in consumer confidence in December exceeded expectations, indicating that the economic recovery has a certain toughness. It is expected that chemicals may maintain an upward repair market before the Spring Festival.
Hot spots in chemical industry
February WTI crude oil (CLG22) on Tuesday closed up +0.91 (+1.20%), and February RBOB gasoline (RBG22) closed up +1.98 (+0.88%).
WTI crude oil and RBOB gasoline prices on Tuesday closed moderately higher, with crude climbing to a 5-week high. Crude prices rallied Tuesday on optimism the less severe omicron Covid variant will not derail the global economy and energy demand. Crude prices rose despite the action by OPEC+ on Tuesday to boost its Feb crude output target by 400,000 bpd.
OPEC+ on Tuesday agreed to boost its crude production output by 400,000 bpd in February, as expected. Crude prices gained even after the decision by OPEC+ to hike output since the group’s production increases are likely to be less than what they agreed to. According to Energy Aspects, only 130,000 bpd of additional OPEC+ crude will hit the markets in Jan, and only 250,000 bpd will make it to global markets in Feb as some countries such as Angola and Nigeria struggle to hit their production targets.
Tuesday’s global economic data was mixed for energy demand and crude prices. On the positive side, German Nov retail sales unexpectedly rose +0.6% m/m, stronger than expectations of -0.3% m/m. Also, the German Dec unemployment rate unexpectedly fell -0.1 to a 21-month low of 5.2%, showing a stronger labor market than expectations of unchanged at 5.3%. On the bearish side, the U.S. Dec ISM manufacturing index fell -2.4 to 58.7, weaker than expectations of 60.0 and the slowest pace of expansion in 13 months. Also, the U.S. Nov JOLTS job openings fell -529,000 to a 5-month low of 10.562 million, showing a weaker labor market than expectations of 11.079 million.
Crude prices have carry-over support from Monday when the OPEC+ Joint Technical Committee cut its global crude surplus estimate for Q1 of 2022 to 1.4 million bpd, 25% smaller than the 1.7 million bpd it estimated a month ago. The committee said it saw only a “mild and short-lived” impact from the omicron Covid variant, as “the world becomes better equipped to manage Covid and its related challenges.”
Reduced crude output from Libya is supportive of prices after Libya’s National Oil Corp. said Saturday that Libya crude production will fall by -200,000 bpd to about 700,000 bpd, the lowest in a year, as workers try to repair a damaged pipeline. The outage comes less than two weeks after militia shut down the Sharara oil field, Libya’s biggest oil field.
Concerns about reduced fuel demand in China are bearish for crude prices. Goldman Sachs on Tuesday said that China would stick with its Covid Zero strategy and maintain its tight border restrictions for the rest of this year as it prepares to hold the Winter Olympics and other political events later in 2022.
The rapid spread of the omicron variant has bolstered concern that countries may impose travel restrictions to slow the spread of the virus, which would hurt fuel demand and is bearish for crude prices. New pandemic restrictions are being imposed in parts of Europe. A record 10 million people worldwide became infected with Covid in the week through Sunday. The 7-day average of new U.S. Covid infections rose to a record 485,363 on Monday.
An increase in global crude oil stored on oil tankers worldwide is bearish for crude prices. Vortexa on Monday said that crude oil stored on tankers that have been stationary for at least seven days in the week ended Dec 31 rose +8.6 w/w to 97.32 million bbl.
In a supportive factor for crude oil prices, Iranian crude oil exports are unlikely to come back onto the market anytime soon. A senior U.S. official said that Iran hadn’t shown seriousness in the latest talks to rejoin the 2015 nuclear agreement, and the U.S. is preparing for a scenario where restoring the deal won’t be possible.
Crude prices rose more than +10 cents/bbl above their Tuesday afternoon closing level when the API reported that U.S. crude inventories fell -6.43 million bbl last week. The consensus is for Wednesday’s weekly EIA crude inventories to fall -3.65 million bbl.
Last Wednesday’s weekly EIA report showed that (1) U.S. crude oil inventories as of Dec 24 were -7.7% below the seasonal 5-year average, (2) gasoline inventories were -5.6% below the 5-year average, and (3) distillate inventories were -13.3% below the 5-year average. U.S. crude oil production in the week ended Dec 24 rose +1.7% w/w to a 19-1/2 month high of 11.8 million bpd, which was -1.3 million bpd (-9.9%) below the Feb-2020 record-high of 13.1 million bpd.
Baker Hughes reported last Friday that active U.S. oil rigs in the week ended Dec 31 were unchanged at a 1-3/4 year high of 480 rigs. U.S. active oil rigs have risen sharply from the Aug-2022 15-year low of 172 rigs, signaling an increase in U.S. crude oil production capacity.
In 2022, the price changes of pentane, hexane and heptane during the new year’s Day holiday and the prospect of the trend after the holiday. On the eve of the New Year’s Day holiday, domestic pentane and hexane pushed up all the way, with an increase of nearly 100 yuan per ton. According to the real-time exchange rate of RMB against the US dollar today, it is about US $16 / ton. The price of n-Heptane products fell, with a decrease of up to 500 yuan per ton, about US $78/MT. Supply tightening is the main boost. On the one hand, Junyuan Petroleum Group, a leading manufacturer of Pentane, Hexane and Heptane, took the lead in increasing the quotation while controlling the volume of shipments; On the other hand, the replenishment of domestic trade ships is limited, and the impact on the delayed arrival of imported ships is small. The inventory in Qingdao and Shanghai ports continues to be less than 30,000 tons. The cargo holders have no shipping pressure, have a positive attitude, push up actively, and focus all the way up.
During the New Year’s Day holiday, the market atmosphere was relatively quiet, and most operators withdrew from the market to wait and see, waiting for the market to become clear after the festival.
Changes in main factors affecting price fluctuations
Cost Side
Firstly, based on the analysis of the price trend of main raw materials for pentane, hexane and heptane production, the price of naphtha rose before the new year’s Day holiday. Considering the decrease of imported cargoes from January to February, the new n-Heptane unit is put into operation, and coincides with the extension of the unloading period of n-Heptane import ships on the shore, n-Heptane is expected to be transferred to the warehouse removal stage; However, it should also be noted that after the new n-Heptane production unit is put into operation, the negative pressure of non integrated n-Heptane caused by intensified industry competition will directly pull down the price of n-Heptane. Therefore, it is expected that in the first ten days of January, n-Heptane will mainly fluctuate at a low level, focusing on the shipping situation in Shanghai and Qingdao and the production process of downstream n-Heptane.
Secondly, considering the average contract price, the starting point of the average price of Pentane and Hexane in January is high, and there is little room for contract households to make profit and ship goods, so it needs to be treated with caution.
Supply Side
From the perspective of domestic supply, it is reported that the major pentane, hexane and heptane manufacturers planned to store, shut down and overhaul their units in January, and the contract has corresponding reduction expectations. In addition, considering the immediate demand or stock mood in the first ten days, it is expected that there will be little pressure on domestic goods supply in the first ten days.
2021/12/31. USD TO CNY TODAY.
The price of foaming agent rose slightly today, among which the price of foam blowing agent with high Isopentane content increased by 0.81 percentage points, and the price of foam blowing agent with high n-Pentane content increased by 0.85 percentage points. The price returned to its position on December 24.
The prices of other key products such as n-Pentane, Isopentane, n-Heptane and n-Hexane remain unchanged today.
Chemical Market Focus
U.S. commercial crude oil inventory and refined oil inventory decreased, and international oil prices continued to rise, but the epidemic in Europe and the United States severely restrained the increase again. NYMEX crude oil futures 02 contract 76.56, up $0.58/barrel or 0.76%; Ice oil distribution futures 02 contract 79.23 rose $0.29/barrel, or 0.37%.
Industry News
◎ judging from the US economic data, crude oil prices rose and fell
Recently, the US dollar index has weakened, reaching 96.09 on December 27, down 0.50% from December 17. The decline of the dollar mainly stems from: on December 20, Goldman Sachs Group lowered its forecast for U.S. economic growth because Democratic Senator manqin said he would not support the core content of President Biden’s economic agenda, that is, the $2 trillion tax and expenditure plan. Manchin’s statement actually killed the Democratic Party’s plan to pass the bill called build back better. Economists at Goldman Sachs said that if the bill could not be passed, it would have a negative impact on U.S. economic growth and would make the U.S. economy face the dilemma of slowing down in 2022. The weakening dollar supported the rise of crude oil prices to a certain extent.
◎ domestic LNG price in terms of apparent consumption
Affected by the epidemic situation, the comprehensive statistics of domestic apparent natural gas consumption from January to February 2020 is 52.7 billion cubic meters. Without splitting, the annual apparent natural gas consumption in 2020 is 320.38 billion cubic meters. Except for the epidemic situation at the beginning of the year and the Spring Festival factors, it is relatively stable throughout the year and increases in the heating season. There will be great changes in 2021. Although the overall consumption increases greatly, the consumption growth rate is unstable. As of October 2021, the apparent consumption of domestic natural gas totaled 302.893 billion cubic meters, an increase of 24.51% over the same period last year. And this year, the apparent consumption in October near the heating season decreased by 2.34% compared with September. The reason is that under the demand expectation and supply guarantee requirements of this year’s heating season, the domestic natural gas reserve work is carried out in advance, and the overall reserve is relatively sufficient. With the promotion of carbon peak and carbon neutralization, the strengthening of environmental protection work by local governments greatly limits the industrial demand, so the demand shrinks near the heating season.
◎ needle coke market summary in November
In November 2021, the import volume of needle coke was 20900 tons, an increase of 11% month on month. Among them, oil measures are 8700 tons, accounting for 41.6%, and coal measures are 12200 tons, accounting for 58.4%. From January to November 2021, the cumulative import volume of needle coke is about 205400 tons, and the oil series is 97500 tons, accounting for 47%. Coal measures account for 10.79%, accounting for 52%
◎ liquefied gas: the market rebounded at a low level after ether appeared on the positive support of supply and demand
The supply of some oil producing countries has decreased and the market demand prospect has been better supported. The international crude oil trend is strong, which has obvious positive support for the relevant industrial chains in the region. However, as the end of the year is approaching, there is a certain demand for inventory discharge by enterprises, and the market atmosphere tends to be conservative. It is expected that the market will maintain stability in the short term, and the power for both rise and fall is insufficient. After the year or due to the centralized replenishment of downstream goods, The market has a “good start” again, but under the influence of policy, there is uncertainty. Follow up, pay close attention to the startup and shutdown of upstream and downstream devices.
◎ game between cost and demand, stalemate in polyester filament Market
With strong cost support and weak demand as a foregone conclusion, polyester filament needs to pay more attention to its own fundamental data. As we all know, the load of direct spinning factories in the Spring Festival is higher than that of looms, so the inventory of polyester filament factories from January to February is expected. According to the market understanding, the inventory of some polyester filament factories has been at a high level. Near the Spring Festival, the factory or machine price exchange is not ruled out. At this time, polyester filament is in a shock downward trend in the game of cost and demand, or dragged down by demand.
◎ the supply of polyester bottles and chips is reduced, and the spot in the market is still tight
From the order receiving situation of polyester bottle chip manufacturers, the order receiving amount of the factory has decreased recently. Since mid September, due to the influence of dual control, some production enterprises have limited operation and reduced supply, and the spot circulation of polyester bottles and chips shows signs of tightening. In addition, the increase in foreign trade shipments has exacerbated the tense atmosphere of spot circulation. The large downstream soft drink manufacturers will advance the procurement cycle and the centralized purchase time to November. In the fourth quarter, according to the past performance, the demand is off-season, and the bottle chip factory is overhauled during this period. However, this year is different from previous years. The off-season is “not light”, and the demand side makes collective efforts. As a result, the polyester bottle chip factory has no spot to sell and can only sell far month futures. Last weekend, a 600000 ton unit of a large factory in East China was overhauled as planned, the supply was further reduced, and the price of polyester bottles and chips rose steadily.
◆ industry newsletter
◎ EU economic Commissioner gentiloni said that the EU is considering amending the stability and growth pact to no longer set a unified debt ceiling and allow member states to set a reasonable debt scale according to their national conditions. Since March 2020, EU member states have unanimously decided to suspend the implementation of the EU stability and growth pact until the end of 2022.
◎ the US merchandise trade deficit in November increased to US $97.8 billion, expanding to a record high. Among them, the import volume increased by 4.7% to a record high of US $252.4 billion; Exports fell to $154.7 billion. In addition, US wholesale inventory increased by 1.2% and retail inventory increased by 2% in November, the largest increase since 1992.
◎ the second-hand housing contract volume index of the United States unexpectedly fell by 2.2% in November, while it fell by 2.7% year-on-year. The real estate market, boosted by strong demand and low borrowing costs, began to cool towards the end of the year, and high house prices and limited inventory still put pressure on house purchase activities.
◎ the Ministry of industry and information technology and other six departments jointly issued the implementation plan for the recycling of industrial wastewater, which proposed to strive to achieve the reuse rate of industrial water above Designated Size of about 94% by 2025, and the water consumption of 10000 yuan of industrial added value decreased by 16% compared with 2020. Focus on key industries such as petrochemical and chemical industry, iron and steel, nonferrous metals, papermaking, textile and food, and implement the action to improve the recycling of wastewater.
◎ according to the 14th five year plan for copyright work issued by the national copyright administration, by 2025, the construction of a copyright power will have achieved remarkable results, the number of works registered across the country will exceed 5 million, and the added value of the copyright industry will increase to about 7.5% of GDP.
Thursday (December 30)
06:00 Singapore’s total fuel inventory for the week ended December 29 (10000 barrels)
21:30 US initial jobless claims for the week ended December 25 (10000)
At 21:30, the number of Americans who renewed their claims for unemployment benefits for the week ended December 18 (10000)
22:45 Chicago PMI in December