Major manufacturers have obvious willingness to stand up prices, and it is difficult to have a clear market in the acrylonitrile market
2023/8/11
Looking at the raw material propylene market, the domestic propylene market fluctuates, with a weekly average rise slightly month-on-month. In the early days of the week, the market’s upward momentum was relatively strong, and international crude oil prices rose, driving the spot price of polypropylene futures to rise. The profitability of powder materials was better, the main downstream purchases were active, the propylene market traded smoothly, and the transaction center of gravity went up. The spot price of polypropylene futures has declined, the price difference between powder and propylene has narrowed, the enthusiasm for receiving orders from downstream has weakened, the inventory pressure of manufacturers has increased, and market quotations have loosened and declined. At the end of the cycle, international oil prices and polypropylene futures rose again, market trading picked up, and transaction prices stopped falling and rebounded. As of today's close, the mainstream transaction in Shandong is 6650-6700 yuan/ton, and that in East China is 6550-6600 yuan/ton.
From the perspective of the downstream ABS market, the domestic ABS market remained stalemate and weak this week. Downstream demand is sluggish, intermediaries are not interested in purchasing, and ABS petrochemical manufacturers have slowed down their shipments. However, the strong rise of crude oil and styrene intensified the wait-and-see atmosphere in the market. As the weekend approached, some merchants tried to sell at high prices, but there were few people interested in it, and it was difficult to change the deserted market situation. This week, the average operating rate of domestic ABS devices was 82.80%, a decrease of 1.17% month-on-month and an increase of 3.21% year-on-year. The petrochemical plant in Daqing has restarted, but no qualified products have been produced yet; some production lines of a plant in East China have gradually returned to normal after a short stop; Zhenjiang Chimei has started production at less than 50%; Zhangzhou Chimei has started production at about 80%; Tianjin Dagu has started production at 80-90%; Jieyang) started construction at 8.5-90%; Zhejiang Petrochemical’s fifth-line production; Guangxi Changke’s AS production; Zhangjiagang Trinseo’s construction started at 80%; the rest of the manufacturers maintained stable production.
On the whole, the domestic propylene market may fluctuate after rising next week, and cost pressures still exist. As the contradiction between supply and demand still exists, the spot market shipments are not smooth, and traders are gradually offering preferential shipments. However, major acrylonitrile manufacturers are willing to raise prices, so it is difficult for the acrylonitrile market to have a clear market in the short term.
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