Sinochem New Network News Chlorinated benzene market set a low price of 6,600 yuan (t price, the same below) in January this year began to rise modestly, after the Spring Festival in the tight resources, supply gap, the downstream start, etc., driven by positive A new round of rising prices. As of the end of February, the domestic mainstream transaction price exceeded 8,100 yuan, up 22% from the previous quarter. In March, the high-end transaction price even reached 8,400 yuan. Under the current tight domestic resources, it has affected the general market of a series of products in the downstream industry chain, and the market continues to heat up. The market outlook is expected to hit a new high this year.
There are three main reasons:
First, resources are tight and raw materials continue to rise. Since January, the operating rate of domestic coking companies has remained at a relatively low level. The combined operating rate is less than 60%, and production has declined significantly. The supply of chlorinated benzene raw materials was insufficient, and the operating rate could not be improved. The domestic three chlorinated benzene production enterprises, Tianhua, Jining Electron, and Wuhan Xianglong were subject to raw material factors, the average operating rate was only about 55%, prompting the market to heat up. After the Spring Festival, the international crude oil rose sharply, **Inside and outside the disk continued to invert the impact of domestic petroleum benzene several times price increases, oil benzene and coking benzene spread from the original 700 yuan to 1200 yuan, coking benzene market with rising positive, As the cost of chlorinated benzene, which is mainly based on coking benzene, continues to increase, coupled with market speculation factors, passive price increases have shifted toward active upward adjustment and the uptrend channel has been opened.
Second, there is an increase in demand and supply gaps. From late January to the Spring Festival, social stocks (including production companies, downstream companies, traders) have been reduced to a minimum, and some companies even have zero stocks. After the Spring Festival, the raw material market continued to rise, downstream companies appeared to make up the stock market, and chlorinated benzene supply and demand imbalanced. For example, Zhejiang Jiaxing China Chemical Industry Equipment Co., Ltd. needs to be purchased when it is driven, and its overall demand will increase by more than 30% compared with January, while the chlorobenzene plant in Jining is facing maintenance and parking in early March. ** There is a large gap in the source, which has created a situation of tighter prices.
Third, the downstream start, the potential growth momentum is good. Since the beginning of March, the dyes, pharmaceuticals, and perfumery industries have started to pick up after the low prices in the early stage of the market, and production and sales volumes have been simultaneously magnified, showing a good momentum of growth. Domestic dye-producing provinces such as Zhejiang and Guangdong have experienced rapid growth in production and sales. The average monthly growth rate is expected to exceed 6%. Demand for paracetamol, vanillin and other products also began to rise, positive factors upstream conduction, pulling chlorinated benzene prices to go further. At the same time, some enterprises of dichlorobenzene and 2,4-dinitrochlorobenzene started to drive one after another. Due to the low inventory or zero inventories of the previous year, small and medium-sized orders began to increase, prompting higher transaction prices. March was a traditional peak season for demand and it also created a positive atmosphere for the market.
According to the dynamic analysis of the upstream and downstream, the subsequent market is cautiously bullish. Under the background of the general rise in resource products, the entire industry chain has risen. For example, in February, coking benzene, petroleum benzene, p-nitrochlorobenzene, and o-nitrochlorobenzene increased by 20%, 21%, and 20% respectively. 23%, the market linkage effect is obvious. However, recently, the downstream nitrochlorobenzene companies will experience a start-up and upgrading phase. While increasing the demand for raw materials, the price of nitrochlorobenzene will also have a negative effect on the trend of chlorinated benzene. It does not rule out that once the market enters a high position, it will again Shock adjustments.
There are three main reasons:
First, resources are tight and raw materials continue to rise. Since January, the operating rate of domestic coking companies has remained at a relatively low level. The combined operating rate is less than 60%, and production has declined significantly. The supply of chlorinated benzene raw materials was insufficient, and the operating rate could not be improved. The domestic three chlorinated benzene production enterprises, Tianhua, Jining Electron, and Wuhan Xianglong were subject to raw material factors, the average operating rate was only about 55%, prompting the market to heat up. After the Spring Festival, the international crude oil rose sharply, **Inside and outside the disk continued to invert the impact of domestic petroleum benzene several times price increases, oil benzene and coking benzene spread from the original 700 yuan to 1200 yuan, coking benzene market with rising positive, As the cost of chlorinated benzene, which is mainly based on coking benzene, continues to increase, coupled with market speculation factors, passive price increases have shifted toward active upward adjustment and the uptrend channel has been opened.
Second, there is an increase in demand and supply gaps. From late January to the Spring Festival, social stocks (including production companies, downstream companies, traders) have been reduced to a minimum, and some companies even have zero stocks. After the Spring Festival, the raw material market continued to rise, downstream companies appeared to make up the stock market, and chlorinated benzene supply and demand imbalanced. For example, Zhejiang Jiaxing China Chemical Industry Equipment Co., Ltd. needs to be purchased when it is driven, and its overall demand will increase by more than 30% compared with January, while the chlorobenzene plant in Jining is facing maintenance and parking in early March. ** There is a large gap in the source, which has created a situation of tighter prices.
Third, the downstream start, the potential growth momentum is good. Since the beginning of March, the dyes, pharmaceuticals, and perfumery industries have started to pick up after the low prices in the early stage of the market, and production and sales volumes have been simultaneously magnified, showing a good momentum of growth. Domestic dye-producing provinces such as Zhejiang and Guangdong have experienced rapid growth in production and sales. The average monthly growth rate is expected to exceed 6%. Demand for paracetamol, vanillin and other products also began to rise, positive factors upstream conduction, pulling chlorinated benzene prices to go further. At the same time, some enterprises of dichlorobenzene and 2,4-dinitrochlorobenzene started to drive one after another. Due to the low inventory or zero inventories of the previous year, small and medium-sized orders began to increase, prompting higher transaction prices. March was a traditional peak season for demand and it also created a positive atmosphere for the market.
According to the dynamic analysis of the upstream and downstream, the subsequent market is cautiously bullish. Under the background of the general rise in resource products, the entire industry chain has risen. For example, in February, coking benzene, petroleum benzene, p-nitrochlorobenzene, and o-nitrochlorobenzene increased by 20%, 21%, and 20% respectively. 23%, the market linkage effect is obvious. However, recently, the downstream nitrochlorobenzene companies will experience a start-up and upgrading phase. While increasing the demand for raw materials, the price of nitrochlorobenzene will also have a negative effect on the trend of chlorinated benzene. It does not rule out that once the market enters a high position, it will again Shock adjustments.
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