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[Industry Focus]：Phenolic ketone industry chain market upward, industry profitability has recovered

Read： 502 Time：17months ago Source：隆众资讯

The phenol and acetone markets have risen recently, with the upward trend dominating, supported by strong cost sides and contraction on the supply side. As of July 28, the negotiation price of phenol in East China rose to about 8200 yuan/ton, up 28.13 percent from the previous month. The negotiated price of acetone in the East China market was close to 6900 yuan/ton, up 33.33 percent from the same period last year. According to Longzhong Information, as of July 28, the profit of Sinopec's East China manufacturer of phenol ketone was 772.75 yuan/ton, an increase of 1233.75 yuan/ton over June 28.

Comparison table of recent domestic phenolic ketone price changes

unit: RMB/ton

近期国内酚酮价格变动对比表.jpg

phenol: the price of raw material pure benzene rose, and the supply of imported ships and domestic trade was limited. Large-scale bidding to participate in replenishment, the factory actively cooperate with the price increase. The in stock supply of phenol is not under pressure, the holders are more enthusiastic about the rise, and the market center of gravity is rising rapidly. Before the end of the month, Lianyungang phenol ketone plant reported a maintenance plan, which had a great impact on the contract in August. The mentality of the operators further improved, driving the market quotation to rise rapidly to about 8200 yuan/ton.

Acetone: the arrival of imported goods in Hong Kong is limited, the port inventory has dropped to about 10000 tons, and the inventory of phenolic ketone manufacturers is low, with limited shipments. Although the Jiangsu Ruiheng plant has resumed restart, the supply is limited, and the maintenance plan of Shenghong Refining and Chemical Plant has been reported, affecting the number of contracts in August. The in stock resources circulating in the market are tight, the mentality of the holders in the market has been strongly pulled, and the quotations have been rising. This promotes petrochemical enterprises to increase unit prices in turn, some traders enter the market to fill the empty, and some sporadic terminal factories bid for replenishment. The market trading atmosphere is active, supporting the market negotiation focus to rise to about 6900 yuan/ton.

Cost side: pure benzene and propylene markets performed strongly. At present, the supply and demand of pure benzene is tight, and the market may be discussed near 7100-7300 yuan/ton in the near future. At present, the propylene market fluctuates and polypropylene powder has a certain profit. Downstream plants only need to fill positions to support the propylene market. In the short term, the price is running well, and the main propylene fluctuation range in Shandong market is maintained at 6350-6650 yuan/ton.

Supply side: in August, Bluestar Harbin phenolic ketone plant was overhauled, and CSPC phenolic ketone plant has no restart plan for the time being. Wanhua Chemical, Jiangsu Ruiheng, Shenghong refining phenol ketone plant have overhaul expectations, insufficient import supply, phenol, acetone short-term in stock supply of tight situation is difficult to alleviate in a short time.

酚酮成本利润走势对比图.jpg

With the rise in the price of phenol and acetone, the phenol ketone plant followed the pace of the market and raised the unit price several times. Driven by this, from July 27 out of the loss of more than six months. Recently, the high cost of phenol ketone support, phenol ketone market supply tight situation pull more obvious. At the same time, the short-term phenol ketone market in stock supply continues to be tight, and the phenol ketone market is still on the rise. Therefore, it is expected that the profit margin of domestic phenolic ketone enterprises will have room for further improvement in the near future.

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