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SunSirs: Fundamental Positive Factors Gather and CPL Gains Strong Momentum

February 10 2021 09:51:39     SunSirs (John)

Price trend

According to data from SunSirs’ bulk list, the domestic CPL market rose in early February, and the spot price generally rose. As of February 9th, the average price of CPL sample companies offered by SunSirs was 11,466.67 RMB/ton, an increase of 7.71% from the average price level at the beginning of the month.

Analysis review

Domestic CPL prices are rising rapidly, and the market is positive. At present, Shandong Luxi Chemical's CPL liquid price is 12,000 RMB/ton, and the factory has a production capacity of 300,000 tons. The actual transaction can be discussed. The price of Nanjing Oriental CPL liquid is 12,400 RMB/ton, and the operating rate of the 400,000-ton/year plant is about 80%. Baling Hengyi's CPL liquid price is 12,100 RMB/ton, and the 450,000-ton/year device is currently back to normal operation. Baling Petrochemical’s CPL liquid price is 12,100 RMB/ton, and the 300,000-ton/year plant starts up normally.

The upstream pure benzene price is different from the stepwise decline in the previous month. In February, the pure benzene market rose rapidly. According to data from SunSirs's bulk list, the average domestic spot price rose by 18.49% in the first week alone. As the Spring Festival is approaching, the downstream is intensively stocking up. The high-level inventory of pure benzene companies in the early stage is quickly emptying, and the inventory of pure benzene at East China ports continues to decline. Coupled with the unplanned shutdown and delayed restart of some installations in East China, supply has decreased and prices have risen rapidly. In addition, in the early stage, the downstream was bearish on the pure benzene market and focused on purchasing on demand. In addition, the decrease in transportation before the holiday and the increase in freight rates have also promoted the increase in the price of pure benzene. It is expected that the pure benzene market will mainly consolidate during the Spring Festival.

Market outlook

The CPL analyst of SunSirs believes that the current upstream pure benzene market is strong, and it supports the cost of CPL strongly. The improvement in the supply of CPL seems to be very limited. At the beginning of last month, shipments have just recovered, and Haili Chemical has reported that the equipment load has been reduced. In addition, the operating rate of Baling Hengyi also fluctuates, and the pattern of tight supply on the market has not changed substantially. In the downstream PA6, the level of pre-holiday start-up is relatively high, and rigid demand raises the price of CPL, and there are more high-priced small orders in trading. At present, the three sides of domestic CPL cost, supply and demand are gathering together, and the market direction is clear. It is expected that the CPL market after the holiday may continue to run at a high level.

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

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