[Industry Focus]：In the first three quarters of 2021, China's acetone imports fell by 14.5%; Domestic phenol a spot goods fell by 1200 daily, and the bidding price fell sharply.

China's acetone imports fell 14.5% in the first three quarters of 2021
China's acetone imports 457,400 tons in January-September 2021, down 14.5% from January-September 2020. The decline in imports is obvious, the first is due to the concentration of domestic phenolic ketone plant maintenance in 2020, superimposed downstream isopropanol affected by public health events, demand soared, the domestic acetone market supply is limited, the dependence on imports increased. In 2021, domestic new production capacity, such as Lihuayi Phase II, Zhejiang Petrochemical and other production capacity concentrated release, domestic self-sufficiency rate increased, the demand for imports slightly shrank. The second is the increase in domestic self-sufficiency rate, foreign European and American markets in the second quarter arbitrage window opened, some exporters are more willing to export the source of goods to the higher arbitrage space in Europe and the United States. In addition, this year's hard-to-find ships and soaring shipping costs have also brought some resistance to the import market. Among

import trading partners, Saudi Arabia's imports increased significantly.

From the analysis of trading partners, Saudi Arabia, Thailand, South Korea and Taiwan Province of China have been major import trading partners in recent years, accounting for more than 90% of total imports. From January to September 2021, the import volume of acetone from Saudi Arabia was 136,800 tons, accounting for 30%; Thailand's import volume increased by 3 percentage points from last year. The proportion of acetone imports from South Korea and Taiwan decreased significantly. The planned shutdown and force majeure of the phenolic ketone plant led to a decrease in the start-up load, resulting in a significant decrease in supply. In the

import trade mode, the proportion of inbound and outbound goods in bonded supervision places increased significantly.

from the analysis of trade mode, general trade is still the main trade mode of China's acetone import. From January to September 2021, China's acetone imports from general trade were 301,500 tons, accounting for the 66% of total imports. The import volume of acetone from outbound goods from bonded supervision places is 30,100 tons, accounting for 7% of the total import volume. Chongqing's share of

imports increased to 5%.

, from the point of receiving and sending acetone imported goods, the top three provinces are all from East China, namely Jiangsu Province, Zhejiang Province and Shanghai. Jiangsu, Zhejiang and Shanghai account for more than 70% of imports. East China has convenient transportation conditions and is the main distribution center for bulk products. In 2021, Shandong Province and Chongqing City acetone imports increased significantly, mainly due to the local downstream factories increased the procurement of imported sources, such as the MMA industry.

domestic bisphenol A spot day down 1200, bidding price plunge

recently PC manufacturers SABIC, Covestron and other big factories have increased their polycarbonate (PC) European prices.

According to GC reports, SABIC has recently announced that it will raise the selling price of PC from November 15 by 330-650 euros/ton (about 2426-4778 yuan/ton). The company said the reason for the increase was not only rising logistics costs, tight supply markets and high raw material costs, but also Europe's increasingly severe energy problems.

while another major European PC manufacturer Costco (Covestro) also announced that it would raise the price of PC from December 1 by 350-450 euros/ton (about 2572-3308 yuan/ton). The reasons for the price increase also mentioned logistics, raw materials and energy issues.

foreign PC with the energy problem intensified, the current market has risen to nearly 3000 euros/ton, while the domestic PC with raw material bisphenol A up and down dilemma. On the 11th of the

, the bisphenol market plummeted by 1200 yuan/ton. The East China Petrochemical Plant bid closed at 15500 yuan/ton, which was 1600 yuan/ton lower than the 17100 yuan/ton auction closing on the 9th. The market report plummeted. The closing price of 16500 yuan/ton may be lower, with a larger decline.

, Zhejiang canceled the power rationing. The 150,000-ton/year bisphenol A plant in Ningbo, South Asia Plastic, was restarted on the 10th. The repair period of other bisphenol A plants in China was basically over. Then the operating rate of domestic plants returned to a high level. In terms of the Asia-Pacific region, except for some plants in Kumho, South Korea, which are still in the repair period, other mainstream plants have basically recovered. In addition, new units will still be started at the end of the year, and the short-term supply pressure in the bisphenol A market will increase.
the
downstream operating rate with the gradual release of profit margins on bisphenol A procurement or will increase, in addition to the national power rationing basically ended, the industry operating rate has increased, but the current chemical industry challenges are still in the downward channel, it is expected that, the field participation is more and more cautious, short-term bisphenol A or will continue to adjust downward, looking for a reasonable range.

2021 Domestic PC Market Price Trend Chart

raw materials continued to fall, PC factory offer lower, only this week has been reduced by more than 1000 yuan/ton, coupled with Zhejiang factory auction decline in the market overall bearish atmosphere is strong, PC decline significantly expanded. In the mid-to-late of the

, imported materials will arrive in Hong Kong in batches. Under the expectation of bearish expectations, the operators have a strong willingness to actively ship goods, and the internal and external markets are seriously upside down. On Wednesday, the latest low-price offer from Taiwan is expected to ignite the downward price atmosphere in the market. On Thursday, with the sharp drop of bisphenol A again, the bearish atmosphere in the future market of PC continues to become stronger. Under the situation of falling prices during the week, the downstream buyers mostly held a wait-and-see attitude, and. It is expected that the short-term PC decline will not change.

Source: Zhuochuang Chemical, Eighth Element Plastic Edition, Business Club, Longzhong Information, Flush

* Disclaimer: The content contained in the content comes from public channels such as the Internet and WeChat public numbers. We maintain a neutral attitude towards the views in the text. This article is for reference only. The copyright of the reprinted manuscript belongs to the original author and the organization. In case of infringement, please contact the customer service of Huayi Tianxia to delete the raw materials. The PC factory's offer continued to decline. Only this week has been lowered by more than 1000 yuan/ton. In addition, the overall bearish atmosphere in Zhejiang factory's auction decline is strong, and the PC decline has obviously expanded.

, imported materials will arrive in Hong Kong in batches. Under the expectation of bearish expectations, the operators have a strong willingness to actively ship goods, and the internal and external markets are seriously upside down. On Wednesday, the latest low-price offer from Taiwan is expected to ignite the downward price atmosphere in the market. On Thursday, with the sharp drop of bisphenol A again, the bearish atmosphere in the future market of PC continues to become stronger. Under the situation of falling prices during the week, the downstream buyers mostly held a wait-and-see attitude, and. It is expected that the short-term PC decline will not change.

Source: Zhuochuang Chemical, Eighth Element Plastic Edition, Business News, Longzhong Information, Flush of
* Disclaimer: The content contained in the content comes from the Internet, WeChat public number and other public channels, we maintain a neutral attitude towards the views in the article. This article is for reference only. The copyright of the reprinted manuscript belongs to the original author and organization. If there is infringement, please contact Huayi Tianxia customer service to delete it.