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SunSirs: Witness History Again! Acetone Broke TenThousand in Three Days in June

June 05 2020 13:16:33     SunSirs (John)

According to the monitoring data of SunSirs, the acetone market in East China was quoted at 9,000 RMB/ton on May 31, and the market was still affected by various positives and negatives on the first day of June. More people were still skeptical about acetone breaking 10,000, and the results have witnessed history again. In three days, acetone rose by 10%, easily breaking 10,000. Looking back on the history of nearly ten years, the market was close to 10,000 yuan in the fourth quarter of 2013, and the market broke 10,000 in 2011. As of June 3, it closed at 10,200 RMB/ton in the East China market, 9,900-10,100 RMB/ton in the South China region, and 10,250-10,500 RMB/ton in the North China region.

On the 3rd, major domestic factories actively adjusted prices, and the market once again pushed upwards to exceed 10,000 yuan. Sinopec North China (Yanshan Petrochemical and Zhongsha Tianjin) offer increased 400 RMB/ton to implement 9,300 RMB/ton, Shanghai Gaoqiao and Sinopec Mitsui increased by 450 RMB/ton to implement 9,200 RMB/ton in two days, Yangzhou Shiyou raised it again 300 RMB/ton to execute 9,600 RMB/ton, Lihuayi Weiyuan raised 400 RMB/ton to execute 9,600 RMB/ton, Huizhou Zhongxin added 1,000 RMB/ton to execute 9,800 RMB/ton. The market has reached a state where it was difficult to find the goods. The negotiated price range was 9,900-10,500 RMB/ton. The holders were reluctant to sell, and it was clear that there were fewer traders for the offer. There were still factories in the downstream that were actively following up inquiries to replenish.

Although the current profit of phenolic ketone enterprises is quite high, it is expected to be 3,500-4,000 RMB/ton, but the continuous increase in cost still has a supporting effect on it. First of all, pure benzene narrowed up by 50 RMB/ton in the market and negotiated at 3,500-3,630 RMB/ton; the price of propylene, another raw material, increased significantly in Shandong. On June 1, the price of propylene continued the upward trend on Sunday, rising slightly by about 50 RMB/ton. On the 2nd, the price rose again by about 100 RMB/ton, and continued to rise by 100 RMB/ton on the 3rd. the current market transaction has reached between 6,800-6,950 RMB/ton, the mainstream price is around 6,800 RMB/ton, the market supply is still without pressure, the price is expected to continue to rise, and the continuous cost increase is strong support for the acetone market.

The downstream bisphenol A market has a clear upward trend. The factory has repeatedly raised the listed price for a cumulative increase of 600-1,000 RMB/ton, and many factories have listed to 12,000 RMB/ton. Some factories have suspended the offer to sell out. Bisphenol A in East China was talked about 11,300-11500 RMB/ton. Due to the cost pressure, the recent increase in bisphenol A was obvious, the downstream resistance was obvious, the purchasing enthusiasm was also reduced, and the transaction situation was not good. Another important downstream isopropyl alcohol factory was mostly contract orders, and the overall production cost was still controllable. Overseas orders are scheduled until mid-to-late June, and the factory mainly produces according to plan.

From the perspective of SunSirs, the acetone market has been positive in the past two months. The downstream bisphenol A and isopropanol continue to have good demand. Other downstream companies also have replenishment in the face of losses. Under the current tight supply in the market, the company overhauls the market. The supply in the market is rare. It is expected that the short-term acetone market is still operating at a high level, with market negotiations above 10,500 RMB/ton.

 

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

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