SunSirs: Positive Factors Were Concentrated, and the Price of CPL Increased (September 4-11)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of domestic liquid CPL on September 4th was 12,950 RMB/ton, and on September 11th, the average market price of domestic liquid CPL was 13,375 RMB/ton. The price of CPL was increased by 3.28% this week.

Analysis review

The market price of CPL had risen this week. The price of raw material pure benzene increased, leading to increased cost support. The market trend of downstream PA6 chips was upward, and the enthusiasm for raw material procurement increased. The supply of CPL in the market decreased, and the supply side had performed well. As of September 11th, the delivery price of Shandong Hualu Hengsheng CPL Liquid to East China was 13,500 RMB/ton. Sinopec's high-end liquid premium product, CPL, had a self delivered settlement price of 13,800 RMB/ton.

The price of raw material pure benzene had increased this week. Due to the increase in crude oil prices, the price of pure benzene was mainly upwar. On September 4th, the price of pure benzene was 7,887 RMB/ton, and on September 11th, the price of pure benzene was 8,045 RMB/ton, an increase of 2.00% compared to last week. This week, the price of Sinopec pure benzene was 8,350 RMB/ton.

This week, the domestic market for downstream PA6 fluctuated and rose, with spot prices generally rising. The cost side support of PA6 was relatively strong. The domestic polymerization plant had stable load, stable and abundant production. In terms of demand, the improvement in downstream stocking enthusiasm was limited. As of September 11th, the domestic PA6 mixed benchmark price was 14,375 RMB/ton.

Market outlook

SunSirs’ CPL analysts believe that the CPL market had been relatively strong recently. The market for raw material pure benzene was strengthening, with favorable cost support. In addition, market supply decreased and downstream followed up on demand, the focus of CPL transactions had shifted upwards. It is expected that the price of CPL will continue to be stronger and upward in the short term.

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