In April, the price of neopentyl glycol first fell and then rose
According to the Commodity Market Analysis System of SunSirs, as of April 28th, the price of neopentyl glycol was quoted at 9,966.67 RMB/ton, which was a decrease followed by an increase of 2.92% compared to the price of 10,266.67 RMB/ton quoted on April 1st; Compared to April 21st, the price of neopentyl glycol increased by 0.34% from 9,933.33 RMB/ton. In April, the price of raw material isobutyraldehyde stopped falling and rose, while the cost of neopentyl glycol increased. The quotation from neopentyl glycol manufacturers also increased.
Analysis review
In early April, the parking and maintenance situation of downstream neopentyl glycol enterprises was relatively concentrated, and the price of neopentyl glycol decreased; In the latter half of the month, the price of isobutyraldehyde rose, supporting costs, and the price of neopentyl glycol factory rebounded and increased. In April, the quotation for Yantai Wanhua New Pentene Glycol first fell and then rose. At the beginning of the month, the quotation was 9,700-9,900 RMB/ton, and at the end of the month, the quotation was 9,900-10,100 RMB/ton. In April, the quotation for Yantai Wanhua New Pentene Glycol increased by 200 RMB/ton; At the end of the month, Luxi Chemical offered a price of 8,550 RMB/ton for its bulk neopentyl glycol, an increase of 400 RMB/ton from the initial price of 8,150 RMB/ton. In April, the prices of neopentyl glycol manufacturers increased, and the market for neopentyl glycol rebounded.
The price of raw material isobutyraldehyde first fell and then rose
According to the Commodity Market Analysis System of SunSirs, as of April 28th, the domestic isobutyraldehyde quotation was 7,650 RMB/ton, which decreased and then increased by 1.10% compared to the isobutyraldehyde price of 7,566.67 RMB/ton on April 1st; Compared to April 11th, the price of isobutyraldehyde increased by 6.07% from 7212.50 RMB/ton. The high price of crude oil had fallen, while the price of raw material propylene had first risen and then fallen. Downstream inventories of neopentyl glycol were slowly being depleted, and the overall production of isobutyraldehyde in April had significantly decreased. However, compared to downstream production, the decline in production was limited. In addition, factories in Ningxia had started exporting isobutyraldehyde, which had sufficient supply but insufficient demand. The upward momentum of isobutyraldehyde prices had weakened.
The price of raw material formaldehyde first fell and then rose
According to the Commodity Market Analysis System of SunSirs, as of April 28th, the domestic formaldehyde quotation was 1,212.50 RMB/ton, an increase of 0.48% from the formaldehyde price of 1,206.67 RMB/ton on April 1st; Compared to April 11th, the price of formaldehyde increased by 1.25% from 1197.50 RMB/ton. In April, the raw material methanol market fluctuated upwards, and the price of formaldehyde basically followed the changes in methanol. However, downstream purchases remained in demand, and the receiving sentiment was poor. Formaldehyde was weak in following the rise, and the market slightly rose. In April, formaldehyde enterprises underwent more maintenance, resulting in a tight supply of formaldehyde and an overall positive formaldehyde market.
Market outlook
According to neopentyl glycol products analysts of SunSirs, in terms of cost, the prices of formaldehyde and isobutyraldehyde first fell and then rose. In April, the cost of neopentyl glycol increased, and in terms of supply and demand, the fundamentals of neopentyl glycol were relatively balanced. Overall, the cost of neopentyl glycol was supporting, and the upward momentum of neopentyl glycol was increasing. However, downstream demand support was limited, and it is expected that the price of neopentyl glycol will stabilize strongly in the future.
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