Price trend

According to the Commodity Market Analysis System of Business Society, as of April 10th, the average price of industrial grade lithium hydroxide in China was 106000.00 yuan/ton, a decrease of 0.56% compared to the beginning of the month.

Since the beginning of April, the domestic industrial grade lithium hydroxide market has been operating with narrow fluctuations, and the atmosphere is slightly deadlocked. Holders are flexible in their quotations, mostly relying on observation. At the raw material level, the price of spodumene concentrate has slightly increased, and the upstream lithium carbonate market is relatively strong, which has boosted the lithium hydroxide market. Terminal demand has rebounded, and downstream positive electrode enterprises mainly purchase in demand. The overall market inquiry atmosphere is active, and actual transactions are average, with a strong wait-and-see attitude.

Upstream lithium carbonate: According to the monitoring of the commodity market analysis system of Business Society, on April 9th, the reference price of lithium carbonate industrial grade was 109000.00, an increase of 1.87% compared to April 1st (107000.00). Since April, the price of upstream industrial grade lithium carbonate has slightly increased, providing support for the lithium hydroxide market.

Analysts from Shengyishe Lithium Hydroxide believe that short-term cost support still exists, and downstream companies are still cautious in following up on high priced raw materials. The market has a wait-and-see mentality, and it is expected that the lithium hydroxide market may adjust its operation narrowly in the short term. The specific trend still needs to pay attention to market news guidance.

According to the Commodity Market Analysis System of Shengyi Society, after a cliff like decline in n-butanal in March, it fluctuated in early April and remained at a price of 8000-8100 yuan per ton. As of April 8th, the reference price for domestic n-butanal was 8050 yuan/ton, an increase of 25 yuan/ton from 8025 yuan/ton on April 1st.

In terms of raw material propylene, the release of new production capacity has had a slight impact on propylene prices, resulting in a slight decrease in prices.

From the perspective of downstream demand, the n-butanol market is oversupplied, with high inventory levels among manufacturers and a strong willingness to sell at discounted prices, resulting in weak prices.

According to data analysts from Business Society, the weak supply and demand have led to a weak rebound in the price of butyraldehyde, and it is expected that the price center of butyraldehyde will fluctuate in the future.

According to the Commodity Market Analysis System of Business Society, as of April 7th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3300.00 yuan/ton, which is basically unchanged compared to Monday (formic acid reference price of 3300.00 yuan).

From the monitoring chart of Business Society data, it can be seen that since April, the domestic industrial grade 85% formic acid market has been operating steadily, with mainstream enterprise quotations ranging from 3100 to 3400 yuan/ton, and actual orders are mainly negotiated.

Price influencing factors:

From a cost perspective, since April, the domestic methanol market prices have been operating in a narrow range of fluctuations, while the raw material sulfuric acid prices have remained roughly stable, and the cost has been generally supported by the formic acid market. From the perspective of supply and demand, the downstream industry’s procurement demand for formic acid is mostly followed by rigid demand consumption, with orderly market trading and relatively stable supply and demand support. The focus of the quotation is mostly on stability.

Business Society formic acid analysts believe that in the near future, the atmosphere in the formic acid market has remained stable, and the short-term cost impact may be limited. Market transactions may continue to be mainly in demand, and it is expected that the formic acid market will remain stable in the short term. We need to observe market news guidance for specific trends.

The domestic titanium tetrachloride market is temporarily stable this week. According to the testing system of Shengyishe, as of April 2nd, the benchmark price of titanium tetrachloride in Shengyishe was 10675.00 yuan/ton, unchanged from the beginning of this month.

The price increase of terminal raw material titanium ore in the market has led to significant production cost pressure for high titanium slag enterprises. Overall, the high cost of titanium tetrachloride supports the market price to remain stable.

Business Society’s titanium tetrachloride analyst believes that the high cost side of titanium tetrachloride is under pressure, and downstream rigid demand procurement is the main focus. In the short term, market prices will remain stable.

Entering April, the rapid rebound in the price of liquid sodium acetate in the early stage slowed down and was replaced by a volatile trend. Due to the mutual balance between supply and demand, the stalemate in the supply and demand game of sodium acetate market has become prominent, followed by a volatile trend.

According to the commodity market analysis system of Business Society, liquid sodium acetate was priced at 828 yuan/ton on April 2, 2024, an increase of 167 yuan/ton compared to 812 yuan/ton on March 1.

From the perspective of raw materials, the overall price of soda ash in March was weak, and the downstream glass spot market continued to decline. The spot price of glass continues to be under pressure. The supply of glass has reached a historic high. Weakened support for the price of soda ash. Subsequently, it affects the price of sodium acetate.

From the demand side, the recent announcement of the winning bid for the procurement of sodium acetate for the 2024 PPP commissioned operation project of sewage treatment and recycling facilities in the main urban area of Huai’an City indicates that local sewage treatment demand still poses a favorable factor for the sodium acetate market.

Analysts from Shengyishe Sodium Acetate Data believe that based on a comprehensive analysis of supply and demand, sodium acetate raw materials are expected to hit bottom and rebound. Coupled with rising demand, the focus of the sodium acetate market will remain stable in the future, with narrow consolidation as the main trend.

In March, the market for butadiene rubber first rose and then fell, with an overall increase. According to the Commodity Market Analysis System of Business Society, as of March 31, the market price of butadiene rubber in East China was 13610 yuan/ton, an increase of 2.87% from the beginning of the month at 13230 yuan/ton, and a decrease of 2.44% from the high point of 13950 yuan/ton in the cycle.

In March, the market price of butadiene remained high, while the cost center of butadiene rubber remained high; Downstream tire production is at a high level, but there is resistance to high priced sources of goods. The demand for butadiene rubber is supported by the initial rigid demand, but weak in the later stage; Multiple devices have been shut down for maintenance one after another. In March, the overall production of butadiene rubber decreased, and the supply of butadiene rubber tightened compared to the previous period; Driven by comprehensive factors, the factory prices of enterprises first increased and then decreased, and the market situation of butadiene rubber first rose and then fell. As of March 31st, the mainstream price of butadiene rubber market in East China is 13450-13700 yuan/ton.

In March, the domestic production of butadiene rubber gradually decreased from 6.4% at the beginning of the month to around 5.4% at the end of the month, a significant decrease compared to February.

In March, the price of butadiene remained high, and there is still strong support for the cost of butadiene rubber. According to the Commodity Market Analysis System of Shengyishe, as of March 31st, the price of butadiene was 11525 yuan/ton, an increase of 3.88% from 11095 yuan/ton at the beginning of the month.

Demand side: Downstream tire production is temporarily stable, providing certain support for butadiene rubber. It is understood that as of late March, the operating load of semi steel tires in domestic tire enterprises was around 790%; The operating load of all steel tires in tire enterprises in Shandong region is close to 70%; But in the middle of the month, the price of butadiene styrene rubber increased significantly, and downstream consumers resisted the high price, resulting in a slowdown in procurement efforts.

Market forecast: Business Society analysts believe that the price of raw material butadiene is still at a high level, and the cost support for butadiene rubber is strong; While some devices are being shut down and reduced in load, there are still other maintenance plans in the later stage, and the expectation of starting production of butadiene rubber is further reduced; The cost and commencement of production support the market for butadiene rubber. However, the current downstream resistance to the high priced supply of butadiene rubber has slowed down, putting pressure on the butadiene rubber market. Overall, the current butadiene rubber market is expected to maintain a high consolidation level in the short term.

1、 Price trend

According to data monitored by Business Society, as of March 27th, the average price of industrial grade premium cyclohexane in China was 7200 yuan/ton. In March, the price range of cyclohexane was the main trend. In March, the supply side of the cyclohexane market was tight, inventory remained low, production was limited, downstream demand increased, and mainstream cyclohexane factory prices were the main trend.

2、 Market analysis

In March, the domestic cyclohexane market prices were dominated by tight inventory from manufacturers and a positive attitude towards downstream procurement. The overall market transaction atmosphere was still good, with holders holding up prices. In early March, the upstream pure benzene price fluctuated and rose. Due to the continuous increase in crude oil prices, pure benzene prices surged and manufacturers continued to quote higher prices. The negotiation center was operating at a high level, and the increase in upstream raw materials provided positive support for the cost side of cyclohexane. In late March, crude oil prices returned to stability and were weak overall. After digesting the previous gains, upstream raw material prices also fluctuated and decreased. As of March 27th, the domestic pure benzene price was in the stage of consolidation at 8353-8550 yuan/ton.

In terms of supply, the overall market operating rate of cyclohexane remained stable in March, with increasing downstream demand. Due to limited production of cyclohexane, inventory continued to operate at a low level, resulting in tight supply of spot goods and normal consumption of inventory. As a result, the overall market supply was tight.

In terms of cost: In March, upstream pure benzene fluctuated and the overall market showed a downward trend, mainly due to the influence of crude oil prices. In March, pure benzene prices were in a weak consolidation stage. Starting from mid March, crude oil prices rose, and pure benzene had some support on the cost side. Cyclohexane provided strong support on the cost side, and the price continued to rise, showing a strong trend. In late March, crude oil prices returned to stability, and pure benzene prices were in a weak consolidation stage. Cyclohexane prices showed a weak and strong trend.

In terms of demand: Currently, the downstream demand for cyclohexane is relatively optimistic, and downstream chemical fiber enterprises have a positive purchasing atmosphere. The focus of negotiations is on high-level operations, with small orders from contract customers as the main focus, limited new orders, and a stable downstream operating rate. The spot supply is also stable.

3、 Future Market Forecast

Business Society’s cyclohexane analyst believes that the current downstream market procurement atmosphere is positive, with small orders in the solvent market following suit, and upstream cost support being average. The trend is fluctuating and consolidating, and inventory is currently operating at a low level. It is expected that the cyclohexane market will maintain its previous trend in the short term, with mainstream prices ranging from 7200 to 7300 yuan/ton.

Price trend:

According to the Commodity Market Analysis System of Business Society, on March 1st, the domestic price of chloroacetic acid was 3175 yuan/ton. As of March 26th, the price of chloroacetic acid was 3100 yuan/ton, a decrease of 2.36% from the beginning of the month. The market is showing a fluctuating downward trend.

Cost side situation:

The recent decline in the chloroacetic acid market has been affected by the decline in raw material prices, leading to weakened cost support from manufacturers and an increase in low-priced offers.

Regarding acetic acid:

On March 1st, the domestic price of acetic acid was 3100 yuan/ton. As of March 26th, the price of acetic acid was 3002 yuan/ton, a decrease of 3.16% from the beginning of the month. The market is showing a consolidation and downward trend.

The consumption of acetic acid in the terminal market is average, and downstream purchasing enthusiasm is weak. Enterprise shipments are limited, and inventory has increased. In order to stimulate downstream entry into the market, factory quotations have been continuously lowered. However, downstream consumption is slow, and demand support is insufficient, resulting in weak acetic acid prices.

Regarding sulfur:

On March 1st, the domestic sulfur price was 1026 yuan/ton. As of March 26th, the price of acetic acid was 1046 yuan/ton, an increase of 1.9% from the beginning of the month. The market is showing a consolidation and upward trend.

The operation of sulfur refining plants in Shandong region is relatively weak, with manufacturer inventory mainly maintaining at a medium to low level. The market supply of goods has decreased, and downstream procurement follows up on demand. The on-site trading atmosphere is good, and enterprise shipments are smooth. Prices are adjusted upwards due to excessive consolidation.

Demand side situation:

In March, the demand for pesticides was relatively strong, with an overall increase in market inquiries and active market trading. Most product prices and inventory are at historically low levels.

Future Market Forecast:

Business Society Chloroacetic Acid Data Analyst believes that the cost support of chloroacetic acid is supported by both negative and positive factors. In addition, with the increase in downstream demand, the chloroacetic acid market is expected to rebound in the current situation, and specific attention needs to be paid to the actual supply and demand situation.

1、 Price trend

Taking the sulfuric acid method rutile type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market price has increased this week. The average price of titanium dioxide last Friday was 16966.67 yuan/ton, and this Friday it was 17083.33 yuan/ton, with a price increase of 0.69%.

2、 Market analysis

This week, the domestic titanium dioxide market prices have increased. After a rise in February, there was new news about titanium dioxide this week, and multiple companies have once again sent letters raising the price of titanium dioxide. The domestic market price has increased by 500 yuan/ton, while the international market price has increased by 80-125 US dollars/ton. The overall confidence in the on-site market is good, with manufacturers having tight inventory and high market prices. As of now, domestic prices for rutile type titanium dioxide are mostly between 16500 and 18300 yuan/ton; The quotation for rutile titanium dioxide is around 15000 yuan/ton. The actual transaction price is negotiable.

In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region has been at a high level this week. At present, titanium ore spot prices are tight, and there is no pressure on enterprise inventory. The downstream procurement situation is still acceptable. As of now, the tax-free quotation for grade 38-42 titanium ore is around 1580-1620 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2300 yuan/ton, and the tax-free quotation for grade 47 20 titanium concentrate is around 2350-2480 yuan/ton. In the short term, the market price of titanium concentrate is mainly strong, and the actual transaction price is negotiable. It is reported that the price of titanium ore in Panxi Dachang may increase by 150 yuan/ton in the second quarter. The specific implementation situation still needs to pay attention to changes in the message surface.

In terms of sulfuric acid, the domestic sulfuric acid market price continues to rise. According to data monitoring from Business Society, the average price of sulfuric acid was 261.25 yuan/ton last Friday, and 291.25 yuan/ton this Friday, with a price increase of 11.84%. The upstream sulfur market has recently seen a slight increase, with good cost support. The downstream titanium dioxide market is relatively strong, and downstream customers have a good enthusiasm for purchasing sulfuric acid.

3、 Future Market Forecast

Business Society Titanium Dioxide Analyst believes that currently, the price of titanium concentrate in the Panxi region is running at a high level, with an increase in sulfuric acid prices and significant cost pressure on titanium dioxide. The new order quotation is firm and upward. It is expected that the titanium dioxide market will be relatively strong in the short term, and the actual transaction price will remain unchanged.

According to the monitoring of the commodity market analysis system of Business Society, industrial grade lithium carbonate and battery grade lithium carbonate remained stable and upward this week. On March 21, 2024, the average domestic mixed price of industrial grade lithium carbonate was 108800 yuan/ton, an increase of 1.3% compared to the average price of 107400 yuan/ton on March 17. On March 21st, the average domestic mixed price of battery grade lithium carbonate was 118000 yuan/ton, an increase of 1.2% compared to the average price of 116600 yuan/ton on March 17th.

By observing market changes, it can be seen that the price increase of lithium carbonate has slowed down and slightly increased this week. In terms of supply, social inventory has slightly increased compared to the previous month, and smelter inventory still accounts for more than half of the total, which puts significant pressure on market supply. The imported lithium carbonate is expected to arrive at the port by the end of March, and there is an expectation of sufficient spot supply, which may have some price suppression. At present, lithium salt enterprises mainly sell long-term orders, and some lithium salt enterprises have increased their wait-and-see sentiment, so the upward trend of lithium carbonate prices has slightly slowed down.

In terms of demand, downstream positive electrode enterprises such as Changxie and Customer Supply are still their main procurement channels, and some inventory has already been purchased in the early stage, which can basically meet the short-term production and usage level in the future. There is generally feedback that the acquisition and transaction of high priced individual orders are relatively weak, and the overall continuation of the rigid demand procurement strategy.

The lithium hydroxide market is on the rise, driven by the upward trend in upstream spodumene concentrate prices and the stronger trend in lithium carbonate prices. The cost support is obvious, and some enterprises on the supply side have relatively low inventory. The downstream demand for high nickel ternary is still acceptable, and the 3C digital market is mainly following steadily. The downstream inquiry atmosphere has increased, but the purchasing mentality is still cautious, and transactions are still mainly long-term contract orders. The focus of market negotiations is strong.

The downstream price of lithium iron phosphate has maintained a stable, medium to strong trend, with strong support from the upstream cost side and increased downstream demand. Lithium iron phosphate is expected to improve in the short term. Currently, the price of mica remains stable, and enterprises have a strong willingness to raise prices. The price of raw material lithium carbonate has been mainly increased, and downstream procurement willingness is relatively strong. Currently, the demand for energy storage lithium iron phosphate batteries is not decreasing, and with the promotion of policies, the overall market transaction focus has shifted upwards.

In terms of futures, on March 21, 2024, the opening price of the LC2407 main contract was 118000 yuan/ton, the closing price was 117350 yuan/ton, and the highest price was 118850 yuan/ton, with a daily increase of 1.34%. There were 223000 transactions and 208023 positions held.

According to analysts from Shengyishe Lithium Carbonate, the current pressure on the supply side of lithium carbonate is gradually becoming apparent. Although the end market has particularly high expectations for downstream consumption of lithium carbonate, the production of positive electrode factories is high, and the high inventory accumulated in the early stage has not yet been digested. Therefore, the market is gradually shifting towards a direction of strong supply and weak demand. It is expected that the short-term spot price of lithium carbonate will remain stable and wait-and-see.