1、 Price trend

According to the commodity market analysis system of Shengyishe, as of May 11th, the price of stearic acid was 8875 yuan/ton, a decrease of 75 yuan from the previous working day, a decrease of 0.84%, and an increase of 100 yuan from last week, an increase of 1.14%, with an overall narrow range consolidation. As of May 10th, the mainstream market price of stearic acid (domestically produced, 1840) is around 9200-8500 yuan/ton; The mainstream market price for stearic acid (imported brand, 1801) is around 9900-9000 yuan/ton.

2、 Market analysis

Cost wise: After the May Day holiday, domestic palm oil futures were boosted by the external market and saw a rebound, with the spot market following suit. Due to the lackluster demand for terminal oil consumption, the palm oil futures market experienced a correction after rebounding. This week, the spot price of palm oil fluctuated downward, with the average market price dropping to 7770 yuan/ton, a decrease of nearly 2%.

Demand side: According to the commodity market analysis system of Shengyishe, as of May 11th, the mainstream price of PVC was 5610 yuan/ton, an increase of 54 yuan or 0.97% compared to the previous week. After the holiday, some pre maintenance factories began to resume production, with sufficient inventory and weak downstream.

3、 Future Market Forecast

The upstream palm oil market is oscillating downward, with weak support for stearic acid costs. In addition, downstream demand side confidence is not high, but the terminal mentality is relatively cautious, making it difficult for transactions to improve significantly. There are dual bearish factors, and it is expected that the spot market for stearic acid will experience a slight decline in the short term.

The acrylic acid market is on the rise after the holiday. According to the Commodity Market Analysis System of Shengyishe, as of May 9th, the average quoted price of acrylic acid in East China was 6900.00 yuan/ton, an increase of 0.73% compared to Monday’s price.

Cost side:

According to the commodity market analysis system of Shengyishe, the reference price for propylene on May 8th was 6778.60, a decrease of 0.32% compared to May 1st (6800.60). After the holiday, the price of raw material propylene fluctuated narrowly, and the cost support is still acceptable.

Supply and demand side:

On the supply side, the factory mainly executes early orders in an orderly manner after the holiday, but the supply side is tight, and the factory has no pressure to increase prices. On the demand side, there is currently no significant positive boost in the terminal market. Downstream will follow up on replenishment after the holiday, with acrylic acid procurement mainly focused on rigid demand, and the performance on the demand side is average.

Future Market Forecast:

In recent times, there has been no pressure on the supply side to support the price increase of acrylic acid. Looking ahead, the atmosphere in the raw material acrylic acid market is still good, with short-term or strong operation, which may continue to support the acrylic acid market. The supply side support may still exist in the short term, and the demand side mentality is cautious. Market transactions may continue to be mainly in demand, and it is expected that the acrylic acid market will digest the increase in the short term. More attention should be paid to market news guidance.

Analysis: On May 8th, the domestic hydrochloric acid market remained strong. According to the Commodity Analysis System of Business Society, the overall price of hydrochloric acid increased by 15.38%. The main reason is that some manufacturers have adjusted their factory prices. The upstream liquid chlorine market has been operating at a high level recently, with expectations of an increase, providing good cost support. However, the downstream market for polyaluminum chloride has remained sluggish, with a slight fluctuation and decline since May, with a decline of 0.58%.

Market forecast: Currently, the downstream market for hydrochloric acid is weak and difficult to support high priced quotes. It is expected that the market for hydrochloric acid will rise and may be difficult to sustain, with a focus on volatility in the future.

Price trend

According to the Commodity Market Analysis System of Shengyishe, as of May 7th, the average market price of benzoic acid was 9200 yuan/ton, an increase of 1.1% compared to last week.

In terms of cost

Mixed xylene: The price of mixed xylene in China has slightly decreased this week. On May 7th, the price of mixed xylene was 3250 yuan/ton, and on May 1st, the price of mixed xylene was 7600 yuan/ton, a decrease of 1.04% from last week. The demand for mixed xylene blending is relatively weak, and as of the end of April, the operating capacity of refineries nationwide has slightly decreased to around 6.9. In the later stage, there are still maintenance plans for the toluene mixed xylene unit in May and June, and the supply of mixed xylene is expected to decrease.

Acetic acid: The domestic acetic acid price remained stable this week. On May 7th, the price of acetic acid was 32500 yuan/ton, which remained unchanged from last week. At present, the operating rate of acetic acid enterprises has returned to a relatively high level, and the supply of goods from suppliers is sufficient. Enterprises actively allocate inventory before the holiday, but the market atmosphere is relatively weak after the holiday.

In terms of demand

The operating rate of downstream factories has also increased, the demand side has improved, the focus of negotiations has increased, and the enthusiasm of operators has increased. The polyester factory consumes more inventory and long-term supply, resulting in an increase in terminal pick-up speed after the holiday.

Future Market Forecast

Overall, the recent release of bearish news in the crude oil market has weakened the cost support for isophthalic acid. But the downstream demand center is improving, providing support for prices. It is expected that there is still room for upward movement in the market price of isophthalic acid.

Recently, there has been no positive news to support the overall market atmosphere, with stable price operation as the main focus. Downstream delivery is mostly wait-and-see. As of May 6th, the benchmark price of ethyl acrylate in Shengyishe is 9375.00 yuan/ton, which is unchanged from the beginning of this month.

In terms of market conditions:

The recent weak consolidation of the ethyl acrylate market. The market has a strong bearish mentality, with the cost side continuing to weaken and the market supply being sufficient. In addition, some early parking devices have plans to operate, and downstream and traders are more cautious. The enthusiasm for buying goods is poor, and the market continues to accelerate downward, making it difficult for prices to rise.

The mainstream receiving price in the East China market for this period (4.29-5.6) is around 8900-9100 yuan/ton; The mainstream ex factory price in South China ranges from 9000 to 9200 yuan/ton; The mainstream ex factory price in North China is around 9100-9300 yuan/ton.

In March, the import volume of ethyl acrylate in China was 320.05 tons, a month on month increase of 128.77%, with a total import price of 473892 US dollars. The export volume was 2748.9 tons, a month on month increase of 16.75%, and the total export price was 3259174 US dollars.

Summary and prediction:

The overall trend of ethyl acrylate spot prices is weak. After the holiday, there is good news coming out downstream, and the atmosphere has slightly improved. However, it is necessary to pay attention to the actual landing of each unit, and some of the ethyl acrylate units that have been shut down have plans to start operating, so the overall market is still difficult to rise. Business Society analysts predict that in the near future, the narrow consolidation of the ethyl acrylate market will be mainly on a wait-and-see basis.