SunSirs: The Price of Neopentyl Glycol in China Dropped Significantly by 8.95% in June

https://www.chemnet.com   Jun 29,2023 SunSirs

According to the commodity analysis system of SunSirs, the domestic neopentyl glycol market price fell sharply in June, and the average price of the domestic neopentyl glycol mainstream market fell from 10,433.33 RMB/ton at the beginning of the month to 9,500.00 RMB/ton at the end of the month, a decline of 8.95%. The price at the end of the month was decreased by 32.94% year-on-year.

On June 28, the neopentyl glycol commodity index was 45.78 points, unchanged from the previous day, down 55.82% from the cycle's highest point of 103.61 (2021-09-22), and up 6.34% from the lowest point of 43.05 on November 28, 2022. (Note: The cycle refers to the period from September 1st, 2021 to present)

Analysis review

From the supply side, the quotation of neopentyl glycol mainstream manufacturers dropped slightly this month: the distribution price of neopentyl glycol of Jinan Jinhao Jihua was 10,000 RMB/ton at the end of the month, which was 300 RMB/ton lower than that at the beginning of the month; Jinan Aochen Wanhua neopentyl glycol sales price at the end of the month was 10,000 RMB/ton, compared with the beginning of the month, the quotation fell by 300 RMB/ton; At the end of the month, the distribution price of neopentyl glycol of Zibo Deshengfeng was 8,500 RMB/ton, which was 2,000 RMB/ton lower than that at the beginning of the month.

From the cost side, the market price of isobutyraldehyde fell sharply in June. The market price of isobutyraldehyde fell from 7,533.33 RMB/ton at the beginning of the month to 6,833.33 RMB/ton at the end of the month, a decrease of 9.29%. The price at the end of the month was decreased by 11.64% year-on-year. The factory price of formaldehyde in China slightly decreased in June. The factory price of formaldehyde dropped from 1,103.33 RMB/ton at the beginning of the month to 1,070.00 RMB/ton at the end of the month, a decrease of 3.02%. On the whole, the price of upstream raw material market fell slightly, which was affected by the supply and demand, and the support for the price of neopentyl glycol was insufficient.

Market outlook

The overall trend of neopentyl glycol market in early July maybe mainly fluctuate and decline slightly. The upstream isobutyraldehyde and formaldehyde markets had slightly declined, with insufficient cost support. The downstream paint market was average, and the enthusiasm of downstream procurement weakened. The neopentyl glycol analysts of SunSirs believe that in the short term, the neopentyl glycol market is subject to small fluctuations and falls in the market under the influence of supply and demand, raw materials and other aspects.

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