After the Spring Festival, the pressure of phenol ketone industry loss eased, and even turned a profit in the middle and late February. However, in March, the price of phenol ketone recovered slightly, while the cost pushed up, and the industry fell into the red again. In the afternoon, the supply of phenol ketone is stable and small, although the industry is willing to support the price is strong, but the demand is not sufficient or limit the market rise, the industry loss situation is difficult to change.
Device restart hit the market
Jin Lianchuang analyst Bian Chenhui introduced, before the Spring Festival holiday, domestic phenol ketone and phenol markets have been lukewarm, gradually closed state. Later, due to the influence of factors such as a small amount of supplement in import contracts and the increase of market inquiry from exporters, the market gradually recovered, and the price of phenol rose from more than 7000 yuan (ton price, the same below) before the Spring Festival to more than 8000 yuan, and then fell to around 7950 yuan. Acetone price from 5000 yuan pushed up to 6150 yuan.
Previously, the replenishment of imported phenol cargo in China in February was insufficient, and the replenishment of stocked goods in Jiangyin was mainly domestic cargo, which had little impact on spot supply in the market. In addition, considering the expectation of export shipment operation, the shipment pressure of the supply side is not much, which pushes up the sentiment. However, the contradiction between supply and demand in the market has not been effectively alleviated, and the upward momentum of the phenolic ketone market is seriously insufficient.
At present, Yangzhou Shiyou 320,000 tons/annual phenolone device has resumed restoration; Shenghong refining has a negative operation, and the operating rate is raised near 84%. As the price of phenolone fluctuated at a high level, the space for manufacturers continued to narrow, and in late February, it turned losses to profit, which was close to 150 yuan. At present, as the price has fallen, and raw materials are up, the loss of phenolone products is nearly 300 yuan per ton.
From the perspective of the market, the benefits brought about by the installation of parking and maintenance gradually dissipate. The Jiangsu Ruiheng Phenol device will soon be restarted will have a impact on the market. The phenolone market may continue to operate pressure and turn losses into difficulty.
The price of raw materials is high
From the perspective of upstream raw materials, the price of pure benzene has continued to rise. At present, the spot transaction price is 250-350 yuan compared to the end of February, which is one of the important factors that cause losses in the phenolone industry.
Zhang Wei, an analyst of Longzhong Information, introduced that this upsurge is mainly caused by the shrinkage of imported goods. The pure benzene inventory of East China Port is currently about 265,000 tons, a decrease of 1.3%month -on -month. Recently, the shipping period to Hong Kong has decreased compared with the early stage. In addition, the listed price of the main unit has been raised, Shandong’s inventory inventory is low, and some industry players actively purchase the supply.
From the perspective of the market market, the recent international crude oil fluctuates, and the pure benzene outer disk continues to closing down, but the price of downstream colomorne is up after the fall, which is superimposed with the price of Sinopec’s pure benzene.
After entering March, another raw material came out of the “V” shape, but the fundamental favorable support was limited, and the market rising space was not large. The factors that support the market rebound are mainly parking on the Liaoning blonde device. Overlaying individual propine dehydrogenation (PDH) device is reduced, and the effective external volume of acryline has decreased. In addition, the profit of chlorol oxide (PO) has improved significantly, some traditional chlorol enterprises have increased load, and the Jishen PO device also has a resuscitation plan. The comprehensive effect of these factors has boosted the enthusiasm of propely procurement.
Jilin Petrochemical Salesman He Junsong introduced that as the price of acrylic continues to rise, the downstream has no intention of continuing to chase high, and the market transaction is deadlocked. However, considering the reduction of subsequent acrylic inflowing resources and the existence of new demand points, the downlink risks of acrylonitris are not large, and the market is expected to fluctuate a narrow range.
Weak demand does little to lift it
The main downstream bisphenol A market has fallen weakly. After returning from the year, the terminal demand is not as good as expected. The downstream disadvantaged shocks, consumption of bisphenol A slowly, and suppressing the industry’s mentality.
Wang Chunming, general manager of Shandong Ruiyang Chemical Co., Ltd., said that as the price of bisphenol A fell to low, there were a small number of small orders in the market inquiring, but the intention of handing the disk was low, and the market for the market was insufficient. The operating rate of some bisphenol A devices has dropped slightly, but the supply of spot markets is still relatively sufficient. In addition, the new device of the Guangxi Huayi bisphenol A is successfully put into production, the domestic production capacity increases, which exacerbates the cautious and empty mentality of the industry.
From the perspective of the market market, the demand for bisphenol A is not large, and the market is mainly based on small single -needed procurement. In addition, under the pressure of losses, the operating rate of bisphenol A may be further reduced. At that time, the purchase of raw material procurement is difficult to support the upper rise of the phenolone market.
Post time: Mar-23-2023