London, March 20, 2007 – Zinc prices rose Wednesday as warehouse inventories on the London Metal Exchange (LME) hit a new low since October 2007, but prices of other industrial metals fell due to uncertainty in global demand.

Despite weak economic data from China, a major consumer of metals, low inventories of many metals in warehouses registered on the London Metal Exchange are helping to boost prices, said Ross Strachan, a senior macrocommodity economist at Kaishou.

“Understandably, as the market speculates that a trade agreement will be reached, stock on the exchange is at a very low level, which makes many market participants uneasy about the prospects,” he said.

Some analysts said investors betting that the U.S. Federal Reserve (FED / Federal Reserve) would issue a pigeon statement later Wednesday might also support prices to some extent.

Indicator zinc was the metal with the largest increase in LME, closing up 1.6% at $2,863 per ton.

LME zinc stocks fell 55% this year, reaching their lowest level since October 2007, and LME nickel stocks fell to their lowest level since June 2013, according to data released Wednesday by LME. However, China has more stockpiles.

LME nickel did not close at the end of the day. The final offer was $13,200, up 0.1%.

LME aluminium hit a three-month high of $1,951.50 a tonne, then fell below the level to close 0.5 per cent lower at $1,937.

U.S. President Trump said Wednesday that a trade agreement with Beijing will be reached and U.S. trade negotiators will soon travel to China.

Three-month copper closed down 0.03% at $6,457 a tonne.

Tin rose 0.5% to $21,375.

期铅收高0.3%，报每吨2,044.50美元。

Lead futures rose 0.3% to $2,044.50 per ton.

First, the trend of the market:

According to statistics, the price of phthalic anhydride declined slightly this week. The price of phthalic anhydride this weekend was 6833.33 yuan.ton, down 0.49% from 6866.67 yuan/ton at the beginning of the week and 8.41% from the same period last year. In Shandong province, phthalic anhydride is 6700-6900 yuan per ton self-lifting, while in Jiangsu province, the main stream of phthalic anhydride negotiation is 6900 yuan per ton, with sufficient spot supply in the market. The naphthalene phthalic anhydride plant starts normally, and the current quotation is about 6500 yuan per ton.

2. Market analysis:

Products: In recent years, the price trend of domestic phthalic anhydride market has slightly declined, the market opening rate of phthalic anhydride is around 70%, the market of phthalic anhydride in East China is weak, downstream factories maintain just-in-demand purchasing, the inventory pressure of factories is persistent, high-end transactions are blocked, the mainstream of on-site neighbourhood source negotiation is 6700-6900 yuan/ton, and the mainstream of naphthalene source negotiation is 6500-6600 yuan/ton. Mainstream market quotation is 6650-6900 yuan/ton. The market is weak and shocky. The quotation trend of enterprises is temporarily stable. The downstream construction is not high. Purchase on demand is the main one. The wait-and-see mentality is strong. The domestic phthalic anhydride plant is stable, the spot supply of phthalic anhydride is sufficient, the stock situation is not good, and the price trend of phthalic anhydride is slightly declining.

Industry chain: Recently, the execution price of phthalic anhydride upstream product, Sinopec o-phthalic acid, is 6800 yuan/ton. The actual market transaction price is 7100 yuan/ton. The quotation is stable and the port is out of stock. The price fluctuation of raw materials mixed xylene in the upstream of phthalic acid is stable, the turnover of phthalic acid is general, the stock of phthalic acid in the port is low, the quotation of phthalic acid external market is rising, the cost of imported phthalic acid is rising, the actual transaction price is discussed in detail, the upstream price trend is stable, and the market price of phthalic anhydride is slightly lower. DOP prices downstream slightly declined. Recently, in Zhejiang DOP market, merchants’quotations maintained at 8500-8600 yuan/ton, while downstream prices were at a low level. Demand for upstream phthalic anhydride was limited, and the price trend of phthalic anhydride market slightly declined.

Industry: Recent plasticizer industry trend is general, terminal downstream demand is limited, phthalic anhydride market price trend is declining.

3. Future market forecast:

Recently, the price trend of phthalic anhydride in the upstream has not changed much, and the DOP price in the downstream has been fluctuating. The phthalic anhydride analysts of business associations believe that the market price trend of phthalic anhydride may be slightly lower, with the price around 6,800 yuan/ton.

On March 13, the hydrofluoric acid commodity index was 97.78, down 0.37 points from yesterday, down 30.37% from the peak of 140.43 points in the cycle (2018-02-21), and up 82.46% from the low of 53.59 points on November 30, 2016. (Note: Period refers to 2011-09-01 to date)

According to statistics, the recent domestic hydrofluoric acid market price fluctuation, as of 14 days, the domestic hydrofluoric acid market price is 10775 yuan/ton, the domestic hydrofluoric acid start-up rate is more than 60%. Enterprises reflect that the current on-site hydrofluoric acid spot supply is normal, the recent on-site shopping situation is general, some enterprises have increased hydrofluoric acid inventory, factory prices remain low, due to recent price shocks in the raw material market, Hydrofluoric acid market price trend is temporarily stable. At present, the mainstream of hydrofluoric acid negotiations in the southern region is about 10,000-11,000 yuan/ton, while the price of hydrofluoric acid in the northern market is 10,500-11,000 yuan/ton. Domestic hydrofluoric acid market prices remain low, spot supply is sufficient, due to the recent upward trend in the raw material market, fluorite price trend is temporarily stable, for hydrofluoric acid has some favorable support, the price trend of hydrofluoric acid Market shocks.

Recent downstream refrigerant product units started to rise, upstream fluorite and hydrofluoric acid demand has increased, the recent downstream refrigerant trading market is general, hydrofluoric acid product prices temporarily stable. Recent downstream refrigerant market transactions are cool, R22 refrigerant facility starts at 70%, R22 refrigerant facility start-up rate is temporarily stable, the main production enterprise’s bulk water ex-factory offer price rises to 18500-19000 yuan/ton, but there is no bulk water spot in the production enterprise, mainly a small number of cylinders shipped. In addition, the actual demand side of the market has risen, and the delivery market has risen. The domestic market price of R134a has risen slightly, the start-up rate of production enterprises has remained low, the refrigerant market demand is general, and the manufacturers mainly export their products. However, the on-site transaction price has not changed much. Businessmen purchase on demand. Recently, due to the improvement of the goods, the price trend of hydrofluoric acid market is temporarily stable.

Refrigerant on-site transactions have risen, refrigerant industry equipment start-up rate has increased, for the upstream hydrofluoric acid market demand may increase, coupled with the upstream fluorite price has an upward trend, March is the peak season of air conditioning production, the downstream refrigeration industry is expected to rise, Business Analyst Chen Ling believes that the hydrofluoric acid market may be slightly higher.

On March 12, the Asian acetone market closed at a stable price of US$508-511 per ton, CFR China.

On March 12, Asian Styrene CFR China closed at $1075-1085 per ton, down $2.5 per ton; FOB Korea closed at $1025-1035 per ton, down $2.5 per ton.

Price Trend

According to the data monitored by business associations (average price of SG5 manufactured by calcium carbide method), domestic PVC quoted 6300 yuan/ton on March 4, and domestic PVC quoted 6350 yuan/ton on March 8, with little change in price, fluctuating range of 50-100 yuan/ton. This week, the PVC market shook slightly.

II. Cause Analysis

Products: In March, the weather is warm, the demand for infrastructure is gradually restored, the spot market atmosphere of PVC has been improved, while the start-up rate of PVC manufacturers is around 60%, the supply is sufficient, and the overall market is more stable. Recently, there has been little volatility in PVC futures, which has little impact on the spot market. Up to March 9, the domestic mainstream price range of PVC is 6150-6650 yuan/ton.

Industry: On March 6, the rubber and plastic index was 742 points, up 2 points from yesterday, down 30.00% from the highest point of 1060 points in the cycle (2012-03-14), and up 28.82% from the lowest point of 576 points on December 21, 2015. (Note: Cycle refers to 2011-12-01 to date) This week, commodity market shocks slightly, the overall trend of the rubber and plastic industry shocks upward mainly.

3. Future Market Forecast

PVC business analysts believe that entering March, the PVC market is in a recovery period, supply and demand game, price shocks slightly. It is expected that the demand side of infrastructure construction and real estate industry will gradually recover in the future, and the fluctuation of future market will dominate upward. The mainstream price of PVC 5 is 6150-6700 yuan/ton.

Price Trend

February 2019 Antimony ingot Market declined, the domestic market average price at the beginning of the month was 50,000 yuan/ton, and at the end of the week was 48,750 yuan/ton, a decline of 2.5%.

On February 28, the Sb Commodity Index was 67.87, unchanged from yesterday, down 33.67% from its peak of 102.32 points in the cycle (2012-10-16), and up 44.47% from its low of 46.98 points on December 24, 2015. (Note: Period refers to 2012-09-08 to date).

II. Market Analysis

Upstream and downstream: Antimony trioxide: Affected by the lower price of antimony ingot, antimony trioxide price declined. By the end of the month, 99.5% antimony trioxide was about 4250 yuan/ton and 99.8% antimony trioxide was about 44000 yuan/ton.

Domestic market: before the Spring Festival, the market is relatively cold. Most manufacturers completed stock purchase at the end of January and entered the Spring Festival holiday ahead of schedule. After the opening of the Spring Festival Holiday, there are fragmented just-in-demand transactions in the market. The transaction price of some manufacturers was lower than the mainstream market price of 500 yuan/ton, and then the antimony ingot Market went down. By the end of the month, 2_high bismuth antimony ingot is about 46000 yuan/ton, 2_low bismuth antimony ingot is about 47500 yuan/ton, 1_antimony ingot is about 48000 yuan/ton, and 0_antimony ingot

INTERNATIONAL: This week, the US dollar fell from its high last week, US crude oil showed 4 lianyang, reaching a recent high of US$57.88 per barrel. The latest progress of Sino-US negotiations announced a temporary postponement of the original tariff levy on China on March 1. The market was boosted by positive sentiment. Domestic A-share market was booming, with nearly 3000 points, and the metal market was red.

3. Prospects for the Future Market

There will be a lot of data next week, with the US dollar showing downward signs. As China enters March, downstream construction will gradually resume. With the convening of the “two sessions”, market sentiment maintains a positive trend, and the spot market of antimony slightly rises.

Price Trend

According to the monitoring data of business associations, as of February 28, the average price of domestic cyclohexanone market was 9500 yuan/ton, and the domestic market of cyclohexanone was strong.

II. Market Analysis

Products: The domestic market of cyclohexanone is strong and upward, the manufacturers’spot supply is not much, the quotation is increased, the traders are rising, the market demand of downstream caprolactam is still acceptable, the solvent users are conflicting with the high price, and the high price transaction is limited. The mainstream offer of cyclohexanone in North China market is delivered in cash at 10600-10700, the mainstream offer in East China market is delivered in cash at 10900-11000, and the mainstream offer in South China market is delivered in cash at 11200-11300.

Industry Chain: Pure Benzene: East China Pure Benzene Early Market Price is stable. Caprolactam: The spot market of caprolactam is strong, spot supply is still tight, manufacturers are still selling at low prices, downstream polymerization factories just need to purchase.

3. Future Market Forecast

Cost is stable, downstream chemical fiber market demand follow-up, solvent users just need to purchase, the overall supply shortage. Cyclohexanone analysts expect the market to be strong.

Price Trend

Recently, the domestic butadiene market has a strong wait-and-see atmosphere. As of February 26, the price of butadiene was 9,445 yuan per ton, according to business association monitoring.

II. Analysis of Influencing Factors

Products: The domestic butadiene market has a strong wait-and-see atmosphere and no business has been concluded in Fushun butadiene market. However, Panjin suspended export and supported the mindset of the traders. However, the downstream traders still have a cautious mindset, limited enthusiasm for receiving goods and poor market turnover. Shandong butadiene market has a strong wait-and-see atmosphere, Panjin suspended export, supporting the mindset of the industry, but the downstream cautious mindset is obvious, the transaction is general, and the offer is maintained and tidied up. East China butadiene market has a strong wait-and-see atmosphere, downstream inquiries are still cautious, market turnover is poor, and the offer is maintained. Asian closing price of butadiene, FOB Korea average offer $1110-1118 per ton; CFR China average offer $1130-1138 per ton.

Industry chain: styrene-butadiene rubber: due to rumors of price increases and butadiene external market is slightly stronger, domestic styrene-butadiene rubber market offers show a strong pattern, some of them even show an improvement, while the inquiry atmosphere has also improved, but the actual transaction is general. Cis-butadiene rubber: The domestic cis-butadiene rubber market is stable. The overall market offer price is stable, the overall inquiry atmosphere is not good, and the spot turnover is small. SBS: Oil glue price in domestic SBS market increased slightly, dry rubber duct was narrowed and the atmosphere was light.

3. Future Market Forecast

On the positive side, demand gradually recovered; Panjin suspended export. On the short side, the external price is weak and the supply side is abundant. Business Association butadiene analysts expect that the short-term domestic butadiene market will maintain a consolidation trend, focusing on market turnover.

On the third day of the year, there was not much good news in the fertilizer market. Potassium sulfate continued to cool down the previous year.

The quotation of enterprises is basically the same as that of the previous year. According to the introduction of relevant enterprises, the market turnover after the year is cold, and then depends on the specific situation of the market.

Potassium sulfate is in sufficient stock after one year, so the future market expectation is still not satisfactory. Business analysts believe that the potassium sulfate Market will not fluctuate significantly in the short term, and the market will continue to be stable.