Maleic anhydride
The domestic maleic anhydride market is mainly weak. As of February 26, the average market price of n-butane oxidation maleic anhydride fell by 0.28% compared with the price on February 18.
On the supply side: Affected by rain and snow after the holiday, logistics was blocked, and trading in the maleic anhydride market was limited. In addition, downstream production resumption was limited, and the market had a strong wait-and-see sentiment.
Upstream: The market for hydrogenated benzene increased after the holiday. In the early stage, the market rose sharply driven by pure benzene. At the weekend, the price fell back within a narrow range due to the pressure from the news about the maintenance of downstream equipment. In terms of supply, the operating rate of equipment increased significantly during the week, and the supply of hydrogenated benzene was looser than before the holiday. On the demand side, there is also bad news, and it is expected that the hydrogenated benzene market will have some room to fall in the future.
After the holiday, the international crude oil market fluctuated and declined, with upstream naphtha prices mainly consolidating at high levels, and n-butane prices rising slightly recently.
Downstream: At present, the resumption of work in the unsaturated resin market is limited, downstream demand is gradually recovering, and early inventory is mainly consumed, and market transactions are generally average.
The current fluctuation of international crude oil has increased the market’s wait-and-see mood. In addition, the downstream production of maleic anhydride is limited, market operations are cautious, and transactions are mainly due to rigid demand. It is expected that the maleic anhydride market may be weak in the near future.
Butyl acrylate
The butyl acrylate market has maintained a consolidation trend this month, with an overall slight increase compared to last month. After the post-holiday butyl acrylate has reached a higher level, it is currently choosing to consolidate horizontally. Considering the support from the cost side, the downside space will not be too large. The market is still dominated by the long-short game.
In terms of cost:
The market price of raw material acrylic acid remains stable, the n-butanol market is stable and consolidated, the downstream market is in urgent need of bargain hunting, the market spot supply is stable, and the overall inquiry and transaction performance is average. The cost side has formed a solid support for the butyl acrylate market, the price of acrylic acid has increased slightly, and the improvement in profits has provided certain positive support for the market.
Supply and demand:
The acrylic emulsion market is operating in a consolidated manner. The raw material market is strong and the cost support is strong. North China is affected by the weather and there is insufficient construction. Purchases are maintained for rigid demand and transaction volume is limited. Although the price of tape mother rolls has increased slightly, the increase has never been as high as that of raw materials. The profit of tape master rolls has been below the cost line for a long time, and demand has been slow to follow.
Recently, the installation load of butyl acrylate enterprises has increased to normal levels, the supply on the market has been stable, and the quotations have been pushed up. Downstream factories have successively countered the market, and the purchasing mentality is cautious. The wait-and-see atmosphere on the market is strong, and more people are waiting for further clarity on the market. Although favorable factors have increased, butyl ester downstream manufacturers maintain a rigid demand for raw materials, and the demand side is dragging down the market atmosphere to a certain extent.
in summary:
The cost side of butyl acrylate has solid support, and demand is expected to improve after the Lantern Festival. At the same time, there may be expectations for the restart of some equipment on the supply side. The industry’s mentality is mainly wait-and-see, and terminal follow-up efforts are weak. Positive factors such as supply and inventory reduction have improved. However, the market’s subsequent upward potential is limited, and both parties to subsequent transactions will pay more attention to device changes and demand recovery.
polyacrylamide
Commodity market: After the holiday, the domestic market trend of polyacrylamide (CPAM, cationic, molecular weight 12 million, 10-30 ion degree) rose slightly, with prices rising by 0.15%. The raw material acrylonitrile remains stable, the price of acrylic acid rises, the cost of polyacrylamide is supported, the start-up of enterprises in main production areas gradually resumes, the market supply is abundant, and the mainstream situation of the polyacrylamide market is mainly consolidated.
Raw material acrylonitrile: The acrylonitrile market remained stable after the holidays. The price of raw material propylene fluctuated within a narrow range, and the cost support of acrylonitrile was weak. Downstream construction continued to be low around the Spring Festival, and demand for acrylonitrile was weakly supported; the acrylonitrile industry chain lacked strong guidance, and prices were mainly weak and consolidating.
Raw material acrylic acid: According to the commodity market analysis system of Business Society, the market price of acrylic acid increased after the holiday. After the holiday, some acrylic acid plants are shut down. Companies mostly execute pre-advance orders. The spot supply is relatively small. The supply side has no pressure to support prices. Downstream demand is gradually recovering. Inquiries and purchases are mainly for rigid needs. The market mentality is cautious and wait-and-see.
Liquefied natural gas for production. After the holiday, domestic liquefied natural gas continued the weak market before the holiday, and prices continued to fall. Cooling rain and snow are coming in some areas of the country, causing resource circulation to be sluggish. Downstream companies have resumed work one after another, but the release of terminal demand is slow and the trading atmosphere is not good. The price of imported gas has fallen, which is negative for the domestic market, and the market has a strong willingness to ship. In terms of sea and gas, prices at some receiving stations have dropped intensively.
Market outlook: Raw material prices have increased slightly recently, fuel prices have fallen, and the cost of polyacrylamide has varied. On the supply side, the production of enterprises in main production areas gradually returned to normal after the holiday; on the demand side, downstream procurement and supply continued to be flat, and market transactions changed little. It is expected that domestic polyacrylamide finishing will be the main focus in the near future.
Post time: Feb-27-2024