1. On October 13, the Maleic Anhydride industry chain index was 77.75. This is a decrease of 0.69 points from the previous day and a decrease of 45.92% from the highest point in the cycle, which was 143.77 points on October 26, 2021. However, it has increased by 65.50% compared to the lowest point of 46.98 points on April 4, 2020. (Note: The cycle refers to the present time.)
The industry chain index is a base index created to reflect the overall economic conditions of the entire industry chain based on the commodity industry chain and its various node commodity indices.
1. On October 13, HSBC Petrochemical Maleic Anhydride prices slightly decreased. Shandong HSBC Petrochemical Co., Ltd.'s 50,000-ton/year Maleic Anhydride plant using butane method suspended production. The external quotation for liquid anhydride was 7,550 yuan/ton, and negotiations for transactions were conducted.
2. OPEC maintains global crude oil growth forecast for 2023 and 2024. On Thursday, OPEC released its monthly report, maintaining its forecast for relatively strong global crude oil demand growth in 2023 and 2024. OPEC expects global crude oil demand to increase by 2.25 million barrels per day in 2024, while it will increase by 2.44 million barrels per day in 2023, which remains the same as the forecast made a month ago. The report shows that the global economy will grow steadily in 2024, and with continued improvement in the Chinese economy, it will further boost crude oil consumption. However, demand in certain regions of the world in the remaining time of 2023 and in the first quarter of 2024 may be impacted, so the current quarter and global demand forecast for the first quarter of 2024 have been revised downward. Despite the production cuts committed by the OPEC alliance, OPEC's crude oil production increased in September due to higher production in Nigeria and Kuwait.
3. Due to weakening demand, liquefied gas prices have reversed their gains. Looking ahead, although the current market supply is sufficient, the continued upward potential is limited due to restrained demand. On the contrary, influenced by lower-priced related products, it is expected that the liquefied gas market will mainly experience slight adjustments in the short term.
4. With a weak industry chain, the hydrogenated benzene market is declining (from October 6 to October 13). According to the commodity market analysis system, the ex-factory price of hydrogenated benzene in North China decreased during the week from October 6 to October 13, from 8,133.33 yuan/ton to 7,833.33 yuan/ton, a decrease of 3.69%. This week, the hydrogenated benzene market followed the trend of pure benzene and experienced a downward fluctuation. The downstream demand turned weak, and there was a strong downward pressure on prices. Although there is some restocking demand after the holiday, the overall situation is mainly focused on essential restocking. Hydrogenated benzene companies actively shipped goods after the holiday, and the market's overall negotiations remain favorable. In terms of future market outlook, crude oil is fluctuating downward, which has created a bearish atmosphere in the market. The expectation for downstream demand has turned weak, and there are prominent bearish factors in the market. It is predicted that the hydrogenated benzene market will mainly have a weak operation next week.
5. On October 13, the Blue Mountain Tunhehe BDO in Xinjiang announced the listing price for October. The settlement price for September 2023 was 11,410 yuan/ton in East China and 11,610 yuan/ton in South China. The listed price for October 2023 was 11,300 yuan/ton in East China and 11,500 yuan/ton in South China. The two sets of 204,000-ton units in Blue Mountain Tunhehe operated stably, and the prices were not quoted for spot sales, as they were for internal use and for supplying contracted orders.
6. On October 13, some domestic BDO companies announced the latest bidding prices. Wu Heng Chemical held a bidding sale of 100 tons of BDO on the Henan Energy Trading Platform on the afternoon of October 12, with a starting price of 10,600 yuan/ton and full transactions at the original price.
7. On October 13, the domestic BDO market had a weak and sluggish performance. In the market, the BDO market in South China showed a weak trend. The market news was quiet, and suppliers actively maintained stability in the market, while traders' offers remained stable. The downstream demand was weak, and there were few negotiations for actual orders, resulting in a weak market performance. In East China, the BDO market showed a weak and cautious attitude. As the settlement period approached, suppliers held a price-maintenance mentality. Concerns about contractual cost pressures led to mostly stable offers in the trade market. The downstream demand was average, and there were few actual transactions.