22-JAN-22, There was no change in the price of Pentane, Hexane and Heptane series products today. It’s just a kind reminder that the Chinese New Year holiday is coming. Customers who need to confirm orders please make arrangements in advance.
Spring Festival (Chinese New Year)
The State Council released the official China public holiday 2022 schedule through its Circular of the General Office of the State Council on the Arrangement of Public Holidays in 2022. In 2022, Spring Festival falls between January 31 and February 6. Saturday, January 29 and Sunday, January 30, are designated as official workdays to partially offset the seven days off for Spring Festival.

• January 31 to February 6, 2022 (seven days in total; Monday to Sunday)
• Adjusted working days: January 29, 2022 (Saturday) and January 30, 2022 (Sunday)

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