At the beginning of January, industrial naphthalene ended up digging the market and began to warm slightly. From the low of 8,000 yuan (ton price, the same below) at the end of last year, the volume of sales rose slightly, and the trading volume also showed a modest increase. In the relatively stable and small rise, the Spring Festival was welcomed. As of the end of January, the domestic mainstream transaction price was stable at 8300 to 8400 yuan, and the monthly increase was about 4%. The status quo of the domestic upstream and downstream enterprises started, and during the Spring Festival, the market was temporarily closed. Based on the expected tightness of raw materials after the Spring Festival, as well as the impact of the downstream short-term digestion of inventory and the reduction of the dual factors of purchase, the market is expected to show a moderate upward trend, and after entering March, it will be affected by the demand amplification factors, and it is not excluded from regaining the previous high point. may.
Upstream and downstream Spring Festival holiday with the cost factors to make coal tar companies start limited. Since January, the high price of coal has caused the cost pressure of the coking industry to be greater and the coking plant operating rate is not high. And during the Spring Festival holidays, the output of coal tar did not appear to be amplified due to price increases. Market transactions were mostly due to the normal execution of the planned contracts. It is understood that the domestic mainstream price of coal tar in the 3300 ~ 3500 yuan, to the deep processing companies caused greater cost pressures, high-end prices were significantly resisted, but also affect the coal tar start up one of the reasons.
Weather factors caused downstream reductions and production cuts. Recently, rain and snow in the southern area caused water-reducing chemicals companies to cut their production and reduce production, which reduced the amount of industrial naphthalene purchases. Although there was a large stock purchase during a period of time, it was only a short-term stocking action during the holiday season. Most purchases were still purchased in previous contracts and did not see too many new orders. Others such as refined naphthalene, 2-naphthol customers have a certain amount of inventory due to low prices in the early period, and it is expected that the downstream purchases will not be significantly enlarged in the short term.
The return of traders’ funds has caused the market to be priceless during the Spring Festival. Market feedback information shows that before the Spring Festival, traders used cash transactions as the main means to return funds. Industrial naphthalene prices have risen after a slight increase. Synthesizing the influence of multiple factors, a short-term multi-party market was formed.
Volume and price rebounded in conjunction with bottom-out adjustments, and output fell in line with the market's rebound. According to incomplete statistics, in January, more than 20 of the 90 domestic coal tar deep-processing enterprises stopped production, more than 10 started less than 50%, and the total capacity of parking and production-restricted enterprises accounted for more than 50% of the total domestic capacity. Less than 60%, the output has decreased significantly, which is one of the main reasons for the slight rebound in prices in January.
The transfer of shipments to inventory has prompted the market to heat up. The reporter learned from the production companies that in the face of the high cost pressure of raw coal tar, deep processed products such as naphthalene and related products such as eucalyptus oil, washing oil and asphalt will not be able to be conducted in the short term, and the signs that terminal products will need to be picked up after the Spring Festival are also taken into consideration. , to make a steady bullish expectations. Therefore, in addition to the continued execution of the original planned contract, the large single and long-term contracts will not be negotiated, the inventory will be appropriately increased, the liquidity in the market will be reduced, the small and medium customers will actively purchase the market, and the low-end price will be repaired at the end of last year. As a result, there is a trend of a steady recovery.
In addition, the current situation of market transactions before the Spring Festival reflects the trend of pricing after the Spring Festival. It has been learned from several buyers that the high-priced deals are mostly retail, and they are mostly small and short. It is not difficult to see from this phenomenon that, in order to pass on high costs, the production enterprises have created a positive atmosphere for post-holiday price rises, with the cooperation of low-volume transactions before the Spring Festival.
The mainstream trend of the market stabilized first and then rose. Manufacturers before the Spring Festival stocks entered the market to form a price pressure. From the point of view of increased inventory by some manufacturers before the Spring Festival, after the Spring Festival, the company must have a process of putting a library into the market, and the market supply will be enlarged in the short term. This will inevitably create a pressure factor on the newly created recovery atmosphere, especially for some traders. In order to supplement the status quo of the low positions before the Spring Festival, they will help boost the short-term shocks of the market.
Downstream consumption of self-owned inventory to curb volume gains. After the Spring Festival, the start-up of companies such as downstream water reducers, refined naphthalene, and 2-naphthol will not suddenly enlarge, and there will be a period of time before the Spring Festival. Therefore, the amount of purchases into the market is not expected to suddenly increase, mainly to self-digested inventory-based, under the premise of volume can not be effectively enlarged, the market price will not continue to rise.
However, the high price of upstream raw materials is still strongly supported by the outlook. The recent high coal prices limit the operating rate of coking companies. The market supply of coal tar cannot be substantially increased in the short term, and prices will not fall. The report is expected to continue to play a positive role in the market.
In addition, with the gradual improvement of the weather in the South, companies such as water-reducing agents will also gradually drive up production, and the market price in the early stages will change from low to high. In the atmosphere of a slight turbulence in the north and a steady recovery in the south, a steady first-round rise followed a rise in prices. In particular, after entering the consumer spending season in March, the market will continue to heat up, and the medium-term market is still expected to hit the previous high.
Upstream and downstream Spring Festival holiday with the cost factors to make coal tar companies start limited. Since January, the high price of coal has caused the cost pressure of the coking industry to be greater and the coking plant operating rate is not high. And during the Spring Festival holidays, the output of coal tar did not appear to be amplified due to price increases. Market transactions were mostly due to the normal execution of the planned contracts. It is understood that the domestic mainstream price of coal tar in the 3300 ~ 3500 yuan, to the deep processing companies caused greater cost pressures, high-end prices were significantly resisted, but also affect the coal tar start up one of the reasons.
Weather factors caused downstream reductions and production cuts. Recently, rain and snow in the southern area caused water-reducing chemicals companies to cut their production and reduce production, which reduced the amount of industrial naphthalene purchases. Although there was a large stock purchase during a period of time, it was only a short-term stocking action during the holiday season. Most purchases were still purchased in previous contracts and did not see too many new orders. Others such as refined naphthalene, 2-naphthol customers have a certain amount of inventory due to low prices in the early period, and it is expected that the downstream purchases will not be significantly enlarged in the short term.
The return of traders’ funds has caused the market to be priceless during the Spring Festival. Market feedback information shows that before the Spring Festival, traders used cash transactions as the main means to return funds. Industrial naphthalene prices have risen after a slight increase. Synthesizing the influence of multiple factors, a short-term multi-party market was formed.
Volume and price rebounded in conjunction with bottom-out adjustments, and output fell in line with the market's rebound. According to incomplete statistics, in January, more than 20 of the 90 domestic coal tar deep-processing enterprises stopped production, more than 10 started less than 50%, and the total capacity of parking and production-restricted enterprises accounted for more than 50% of the total domestic capacity. Less than 60%, the output has decreased significantly, which is one of the main reasons for the slight rebound in prices in January.
The transfer of shipments to inventory has prompted the market to heat up. The reporter learned from the production companies that in the face of the high cost pressure of raw coal tar, deep processed products such as naphthalene and related products such as eucalyptus oil, washing oil and asphalt will not be able to be conducted in the short term, and the signs that terminal products will need to be picked up after the Spring Festival are also taken into consideration. , to make a steady bullish expectations. Therefore, in addition to the continued execution of the original planned contract, the large single and long-term contracts will not be negotiated, the inventory will be appropriately increased, the liquidity in the market will be reduced, the small and medium customers will actively purchase the market, and the low-end price will be repaired at the end of last year. As a result, there is a trend of a steady recovery.
In addition, the current situation of market transactions before the Spring Festival reflects the trend of pricing after the Spring Festival. It has been learned from several buyers that the high-priced deals are mostly retail, and they are mostly small and short. It is not difficult to see from this phenomenon that, in order to pass on high costs, the production enterprises have created a positive atmosphere for post-holiday price rises, with the cooperation of low-volume transactions before the Spring Festival.
The mainstream trend of the market stabilized first and then rose. Manufacturers before the Spring Festival stocks entered the market to form a price pressure. From the point of view of increased inventory by some manufacturers before the Spring Festival, after the Spring Festival, the company must have a process of putting a library into the market, and the market supply will be enlarged in the short term. This will inevitably create a pressure factor on the newly created recovery atmosphere, especially for some traders. In order to supplement the status quo of the low positions before the Spring Festival, they will help boost the short-term shocks of the market.
Downstream consumption of self-owned inventory to curb volume gains. After the Spring Festival, the start-up of companies such as downstream water reducers, refined naphthalene, and 2-naphthol will not suddenly enlarge, and there will be a period of time before the Spring Festival. Therefore, the amount of purchases into the market is not expected to suddenly increase, mainly to self-digested inventory-based, under the premise of volume can not be effectively enlarged, the market price will not continue to rise.
However, the high price of upstream raw materials is still strongly supported by the outlook. The recent high coal prices limit the operating rate of coking companies. The market supply of coal tar cannot be substantially increased in the short term, and prices will not fall. The report is expected to continue to play a positive role in the market.
In addition, with the gradual improvement of the weather in the South, companies such as water-reducing agents will also gradually drive up production, and the market price in the early stages will change from low to high. In the atmosphere of a slight turbulence in the north and a steady recovery in the south, a steady first-round rise followed a rise in prices. In particular, after entering the consumer spending season in March, the market will continue to heat up, and the medium-term market is still expected to hit the previous high.
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