Acetone: a 25% drop and "U" ended

In the first half of the year, the domestic acetone market fluctuated sharply, with a drop of about 25%, showing an overall inverted "U" trend
.

Among them, the highest price appeared at 9,250 yuan in late February (ton price, the same below), and the lowest price appeared at 4850 yuan in late June

Inverted "U" trend

Inverted "U" trend Inverted "U" trend

In the first half of the year, the acetone market was ups and downs
.

According to Jinlianchuang analyst Bian Chenhui, the acetone market continued its previous inertial decline in early January
.

With the port's inventory of less than 10,000 tons, coupled with the power failure of the Shanghai Industrial Park, all Cisa Chemical and Mitsui Chemical's phenol ketone plants were temporarily shut down, triggering market enthusiasm

From March to April, the acetone market weakened slowly, but not much, mainly due to the brewing market
.

Port inventories continued to increase, and domestic phenolic ketone plants continued to operate at a high level, while downstream purchasing sentiment was weak.

Since May, the acetone market has fallen sharply
.

Acetone port inventory remained high, coupled with the lack of replenishment sentiment in downstream factories after the holiday, the mentality of merchants has obviously turned empty.

Profits keep narrowing

Profits keep narrowing Profits keep narrowing

He Junsong, a salesperson of Jilin Petrochemical, introduced that phenol and acetone have a co-production relationship, so the market trends of the two influence each other
.

Under normal circumstances, the start of phenol and ketone plants is dominated by phenol.

　　Before April this year, the market price of acetone had been higher than that of phenol.
Especially on January 29, the price of acetone in East China was 2100 yuan higher than that of phenol
.

From mid-February to April, the price difference between the two is not large, basically fluctuating between plus and minus 500 yuan

　　In addition, due to the sluggish acetone market and the impact of higher upstream pure benzene prices, the profit margin of phenol ketone has continued to narrow, reaching a high of more than 2,000 yuan in March, but has now reversed to a loss of about 400 yuan, which is at the low point in the first half of the year.

.

　　The market outlook fluctuates at a low level

The market outlook is low and the market outlook is low and the market is volatile

　　Based on the expected weakening of raw materials and the launch of new production capacity, Liu Yaohua, an analyst at Zhongyu Information, believes that the acetone market will mainly fluctuate at a low level in the later period
.

　　From the perspective of raw materials, the pure benzene market in the first half of the year continued to set new highs during the year, and the price was mostly at a high level of 8,800 to 8,900 yuan, which severely squeezed the profit margin of the downstream
.

Looking at the market outlook, although the new supply of pure benzene is not as good as the new demand, due to the mismatch of supply and demand in the production schedule, especially the second phase of the Zhejiang Petrochemical plant is put into production, and the supply in East China is expected to increase, which will have a greater impact on the market in the short term

　　From the perspective of supply and demand, a set of 270,000 tons/year acetone plant of Zhejiang Petrochemical Phase II is planned to be put into operation, and 120,000 tons/year acetone plant of Liaocheng Luxi is planned to be put into operation.
Both enterprises are equipped with downstream bisphenol A plants and new bisphenol A plants.
The production capacity is 230,000 tons/year and 240,000 tons/year respectively
.

Zhejiang Petrochemical plans to put into production a set of 90,000 tons/year MMA device by the end of the year, and Lihuayi puts into production a set of 100,000 tons/year MMA device by the end of the year

　　"The short-term raw material pure benzene is expected to weaken, coupled with the increase in supply, the acetone market will continue to be weak
.
However, in the later period, considering the peak season of downstream demand for the'Golden Nine Silver Ten', coupled with the launch of new downstream production capacity, the acetone market may rise
.
Overall, The acetone market will fluctuate at a low level in the second half of the year, and the direction will not be strong
.
" Liu Yaohua analyzed
.