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[Industry Reports]：Lack of downstream demand, chemical market decline, PP, PE, xylene continued to decline

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from the international market, last week the international crude oil market volatility weakened. During the week, the situation in Russia and Ukraine and Iran had not yet eased, there was no good news for OPEC + production cuts, and the bottom support was slightly inadequate; economic data remained poor, the market was worried about the demand outlook, and international oil prices fell. As of November 11, the settlement price of the main US WTI crude oil futures contract was $88.96/barrel, down $3.65/barrel from last week. Brent crude oil futures market prices fell, the main contract settlement price of $95.99/barrel, down $2.58/barrel from last week.

from the domestic market point of view, last week the crude oil market mainly fluctuated, the domestic epidemic raged in many parts of the country, the overlay market gradually entered the traditional off-season, demand weakened, the chemical market underperformed. The South China Chemical Product Price Index fell last week. The South China Chemical Product Price Index (hereinafter referred to as the "South China Chemical Index") was 1236.50 points, down 17.99 points or 1.43 percent from last week. Toluene in the 20 sub-index, methanol, caustic soda, styrene four index rose, mixed aromatics, sulfuric acid, PP, PE, xylene, formaldehyde. Seven of the TDI's indices fell, while the rest remained stable.

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1. Methanol
Last week, the methanol market fell after rising. Mainland equipment maintenance is concentrated, the overall market supply is reduced, but the downstream olefin equipment operating rate is low, the demand for methanol equipment is still low, some manufacturers inventory pressure increased, the market fell again. The
South China Methanol Price Index closed at 1245.61 points as of the afternoon of Nov. 11, down 2.20 points, or 0.18 percent, from last week.

2. Caustic soda
Last week, the domestic liquid alkali market range finishing. Market supply is stable, export orders are acceptable, but downstream procurement continues to be weak, the overall market wait-and-see finishing.
Last week, the domestic caustic soda market was running steadily. The increase in market supply and circulation led to an improvement in the market trading atmosphere and the overall price stability of the caustic soda market.
as of November 11, the South China Caustic Soda Price Index closed at 1730.77 points, up 0.71 points, or 0.04 percent, from last week.

3. Ethylene glycol
Last week, the domestic ethylene glycol market continued to fluctuate. On-site equipment parking or burden reduction, supply is not large, but the downstream demand is limited, inventory accumulation, the supply side is still under pressure, the domestic ethylene glycol market to maintain a low impact.
as of November 11, the south China ethylene glycol price index closed at 673.47 points, unchanged from last week.

4. Styrene
Last week, the domestic styrene market volatility rose. Individual plant equipment start adjustment, supply narrow reduction, but styrene inventory accumulation, raw materials pure benzene weak drag prices, market prices only slightly rebounded.
as of November 11, the South China Styrene Price Index closed at 965.30 points, up 37.35 points, or 4.02 percent, from last week.

Source: of Guangzhou Chemical Trading Center

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