Market demand for chemical industry entered the end of the year

Drying equipment

China Drying Network Co., Ltd. entered the end of the year when the demand was off-season, and the domestic chemical market fell more than it did. According to the price monitoring of business clubs, of the 68 chemical products monitored in November, there were a total of 34 products with a quarter-on-quarter decrease in price, of which 9 products fell by more than 5%, accounting for 13.2% of the number of products monitored; the price rose year-on-year. There are a total of 30 kinds of products, of which there are 3 kinds of products with a price increase of more than 5%, accounting for 4.4% of the monitored products.

The transmission of raw material costs became the most important driving force for growth in the chemical market in November. With the price of pure benzene rising from 9,966.67 yuan/ton at the beginning of the month to 10,358.33 yuan/ton, the downstream phenol, acetone, aniline, etc. are more obviously transmitted, and crude benzene, coking benzene and other products are also favorably supported. Crude benzene prices rose 6.16% this month, and coking benzene rose 5.26%, both of which were the top gainers in this month's "Chemical 68 weathervane".

Demand suppression became the biggest negative factor this month. As the polyurethane products industry entered the traditional off-season, its main raw materials, such as toluene diisocyanate and butylene glycol, ended the uptrend of the "Yinshi" period and opened the prelude to adjustment in the fourth quarter.

According to business club data, the drop in toluene diisocyanate reached 11.74% this month, which is the most drop in monitoring products. In addition, the prices of benzene diisocyanate and ethylene glycol arriving in Hong Kong this month were all much lower than those in China, causing some impact on the market, resulting in the transaction price being lowered.

Business community analysts said that overall, the sentiment in the domestic chemical market in November was muted, and the price fluctuation range was significantly tightened. The largest rise in dry process aluminum fluoride monthly rate rose only 7.3%, and far higher than the 40% rise in the championship acrylic acid rose in October, the largest decline in toluene diisocyanate is not as low as October championship polysilicon. Zhang Ming expects that the domestic chemical market will adjust slightly in December.

According to the chief analyst of the business agency, the performance of the chemical market in November was close to that in October because the performance of gold and crude oil, which are the most sensitive to macro conditions, was relatively stable. Both prices at the end of the month were very small, and other commodities were not affected directly. At the same time, from the perspective of industry fundamentals, the relative supply of some excess demand is still the leader of the market downturn, and the industry's winter storage, represented by steel and fertilizers, has failed to improve the situation. The social inventory of commodities represented by copper is still relatively high.

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