Introduction: International oil prices closed lower again on Wednesday amid pessimistic economic prospects, driven by rising U.S. fuel inventories and escalating tariff tensions under Trump. However, the market stabilized slightly after President Trump clarified rumors about firing Fed Chair Powell. Influenced by the bull-bear tug-of-war, domestic chemical spot markets remained weak on Wednesday, while futures were mixed on Thursday.
Weak Performance in Domestic Chemical Spot Markets
On July 16, the domestic spot market closed with mixed trends. According to Jinlianchuang’s monitoring of 131 chemical products:
● 10 products rose (7.63%)
● 85 products stabilized
● 36 products declined (27.48%)
Top 5 Gainers:
1.TDI (+1.96%)
2.MTBE (+0.80%)
3.Ethylene Glycol (+0.68%)
4.Octanol (+0.66%)
5.Acetone (+0.53%)
Despite overnight crude oil declines, ethylene glycol prices were supported by bullish supply expectations, with holders maintaining firm pricing. Downstream polyester demand remained stable, but limited growth in textile orders kept market sentiment cautious, capping price gains. Short-term fluctuations are expected.
Octanol prices firmed in Jiangsu amid improved trading, though overall movement remained narrow.
Acetone saw slight volatility with modest demand recovery but tepid overall activity.
Top 5 Losers:
1.Urea (small granules) (-1.94%)
2.PX (-1.76%)
3.Neopentyl Glycol (-1.69%)
4.Acrylic Acid (-1.48%)
5.Epoxy Resin (-1.46%)
Domestic urea prices continued their downtrend, dropping CNY 10-40/ton. While some low-price orders improved, weak demand persisted, limiting rebound potential. High-end urea prices may keep falling, while low-end prices could stabilize pending sentiment shifts. Market fluctuations warrant close watch.
Mixed Trends in Domestic Chemical Futures (July 17)
● Gainers: Natural Rubber and 20# Rubber led gains.
● Losers: Styrene and Caustic Soda led declines.
Post time: Jul-21-2025