Price trends: on November 28, Sinopec North China: Qilu Petrochemical offered 6700 yuan/ton, Shijiazhuang Petrochemical 6750 yuan/ton, and Tianjin Petrochemical 6800 yuan/ton;

East China: Yangzi Petrochemical quoted 6800 yuan/ton;

South China: Hainan Refining&Chemical Co., Ltd. offers 6800 yuan/ton;

Central China: Wuhan Ethylene, 6800 yuan/ton;

Others: Jingbo Petrochemical quoted 6750 yuan/ton, HSBC Petrochemical 6850 yuan/ton, Weilian Chemical 6703 yuan/ton, Xinhai Petrochemical 6700 yuan/ton, and Hongrun Petrochemical 6850 yuan/ton.

 
Analysis and comments: In terms of crude oil, the market focuses on the issue of western countries’ upper limit on Russian oil prices, and no agreement has been reached at present; The oil price continues to be under pressure due to overlapping demand concerns.

Today, Jingbo Petrochemical reduced the price of pure benzene by 50 yuan/ton.

Crude oil and styrene continued to decline, and the expected inventory of pure benzene port continued to increase. In addition, the buying sentiment in the downstream was not good, so the pure benzene market had a strong negative atmosphere, and the price continued to be weak. Today, the price of pure benzene in China is 6700-6850 yuan/ton.

Spot price: spot price of domestic polyester staple fiber continued to fall this week (11.21-11.25). According to the price monitoring of the business community, the average price of domestic polyester staple fiber was about 7462 yuan/ton on November 25, down 1.19% from Monday and up 2.90% from the same period last year.

Futures market: the main force of short fiber futures ended lower in shock this week. On Friday, the staple fiber PF futures contract closed at 6634, down 4.90% from the closing price last week. The settlement price is 6620 yuan. This week, the main domestic staple fiber upstream raw material PTA futures fell 4.64% and closed at 5138, while the main ethylene glycol futures rose 1.32% and closed at 3928.

Concern about the weak prospect of crude oil demand in the future and the continuous interest rate increase in the United States, it is rumored that OPEC+may discuss increasing crude oil production. EIA data shows that the growth of U.S. distillate oil and gasoline inventories last week exceeded expectations, and oil prices were depressed this week. The main force of US oil futures fell 2.29% to close near US $78.4 per barrel (as of 15:15 on the 25th Beijing time). The fall in crude oil price has weakened the support for PTA cost. PTA’s new production capacity is about to be tested, and the accumulated storage is expected to rise. The high inventory of the downstream polyester factories will not be changed, and the large factories may jointly reduce production. The demand is poor, and the PTA price will maintain a downward pattern this week. The falling crude oil price has weakened the support for ethylene glycol cost, and the downstream demand has remained sluggish. However, due to the impact of poor efficiency, the unplanned maintenance of ethylene glycol has increased recently, and the operating rate remains low. In the case of a large decline in the previous period, the price of ethylene glycol was also at a relatively low level. Ethylene glycol futures prices rebounded slightly this week. The stocks of staple fiber manufacturers continued to increase this week, and some large factories reduced production. The orders of downstream yarn mills and weaving mills are not good, the operating rate of Jiangsu and Zhejiang looms is declining, the demand for raw materials continues to be weak, Duowei holds the rigid demand for procurement, the production and sales of staple fibers continue to be sluggish, and the price continues to fall. This week, the prices of pure polyester yarn and polyester cotton yarn remained weak, and the sales were light. The buyers just needed to talk about goods delivery, and the overall inventory was slow.

In the future, the center of the cost of staple fiber raw materials has moved down, the characteristics of the downstream off-season are obvious, and the demand continues to be weak. It is expected that after December, the phenomenon of textile enterprises giving annual leave in advance will further increase, and staple fiber may continue to accumulate. Short term or weak fluctuation trend of staple fiber price. Pay attention to raw material price trend, plant dynamics and downstream orders.

According to the data of the bulk list of business cooperatives, the average price of domestic industrial lithium hydroxide enterprises was 580000.00 yuan/ton as of November 24, which was the same as the price on Monday and increased by 11.90% compared with the price at the beginning of the month.

The domestic lithium hydroxide market was stable at a high level this week. The upstream spodumene price is at a high level. The upstream lithium carbonate has dropped slightly, and the cost support is still available. Spot transactions in the market are just in demand. The atmosphere of cautious wait-and-see is strong, and the focus of domestic lithium hydroxide market negotiation is temporarily stable.

The upstream lithium carbonate and lithium carbonate market declined slightly. According to the data monitoring of the business community, the reference price of lithium carbonate industrial grade was 582,000.00 on November 22 and 581,000.00 on November 23, respectively, with a price drop of 0.17%.

The lithium hydroxide analysts of the business community believe that the current upstream lithium carbonate market has fallen slightly, increasing the cautious wait-and-see atmosphere of the market, and the market spot trading atmosphere is general. It is expected that in the short term, the domestic lithium hydroxide market price will be mainly stable, and more attention should be paid to the market news guidance.

Commodity name: PET Latest price (November 23): 7280.00 yuan/ton

As of November 23, the average price of PET water bottle manufacturers was 7280 yuan/ton. The narrow range of PET market was weak, and the mainstream price was about 7300 yuan/ton. At present, the focus of negotiations is stable, and the purchase of just needed products is the main.

Future forecast: It is expected that the PET market will operate stably in the short term.

According to the data monitored by the business community, as of November 22, the price of lithium iron phosphate, an excellent power product, was 170000 yuan/ton, unchanged compared with the same period last week. The operating rate was stable. The downstream procurement atmosphere was general, and the mainstream price range was about 170000 yuan/ton.

The price of lithium iron phosphate, an excellent power product, is 170000 yuan/ton. The price of lithium iron phosphate is mainly stable, and the mainstream price range is maintained at 170000 yuan/ton. At present, the downstream just needs to purchase mainly, and the operating rate is stable. The overall market of lithium iron phosphate remains stable, medium to strong. The manufacturer only supplies old customers, but the number of new customers is limited. As of November 15, the price of upstream lithium carbonate is mainly stable.

Chemical commodity index: On November 21, the chemical index was 942 points, up 1 point from yesterday, down 32.71% from the cycle’s highest point of 1400 points (2021-10-23), and up 57.53% from the lowest point of 598 points on April 8, 2020. (Note: the cycle refers to the period from December 1, 2011 to the present).

Analysts of LiFePO4 from the business community believe that the market of LiFePO4 is mainly stable.