SunSirs: Cost Reduced, and Neopentyl Glycol Price Dropped This Week
April 17 2024 10:07:44 SunSirs (John)
The price of neopentyl glycol fluctuated and fell this week
According to the Commodity Market Analysis System of SunSirs, as of April 15th, the price of neopentyl glycol was 9,933.33 RMB/ton, a decrease of 0.33% compared to the price of 9,966.67 RMB/ton on April 8th.
This week, the neopentyl glycol factory offered discounts on sales. The inventory of neopentyl glycol manufacturers was high, and downstream demand for neopentyl glycol weakened. The neopentyl glycol market transactions were poor, and there as still downward pressure on neopentyl glycol.
The price of raw material isobutyraldehyde fluctuated and fell
According to the Commodity Market Analysis System of SunSirs, as of April 15th, the domestic isobutyraldehyde quotation was 7,225 RMB/ton, a decrease of 0.86% from the isobutyraldehyde price of 7,287.50 RMB/ton on April 8th. With the continuous rise of crude oil prices, the price of propylene, the raw material of isobutyraldehyde, had fluctuated and risen. Downstream inventories of neopentyl glycol were high, and the demand for isobutyraldehyde was weak due to the rising cost. The downward pressure on isobutyraldehyde prices had weakened, and the upward momentum had increased.
According to the Commodity Market Analysis System of SunSirs, as of April 15th, the domestic formaldehyde quotation was 1,197.50 RMB/ton, a decrease of 0.21% from the formaldehyde price of 1,200 RMB/ton on April 8th. The upstream raw material methanol was short-term bearish, formaldehyde inventory was accumulating, and the pressure of formaldehyde decline was increasing, causing formaldehyde prices to fluctuate and fall.
Market outlook
An analyst at SunSirs believes that in terms of cost, formaldehyde prices had fluctuated and fallen, while isobutyraldehyde prices had fluctuated and fallen. The cost of neopentyl glycol had decreased, and isobutyraldehyde prices had rebounded and stabilized. In terms of raw materials, the downward pressure on neopentyl glycol had weakened, and the upward momentum had increased; In terms of demand, there were many low-priced offers for neopentyl glycol, but actual transactions were relatively poor. On the supply side, the high inventory of neopentyl glycol manufacturers put significant pressure on the decline of neopentyl glycol. In the future, the cost support for neopentyl glycol was increasing, and demand was weak. Neopentyl glycol manufacturers had high inventories, and the supply of neopentyl glycol was sufficient. The price of neopentyl glycol in the future is expected to fluctuate and stabilize.
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