Fundamental support Liquid argon out of the year's new highs


Release time:

2022-12-20

Recent liquid argon performance is good, since late October Hubei Military Games, southern liquid argon rose one after another, driving the northern market turnover atmosphere. At present, the military games have ended, but by the enterprise overhaul increased support, the southern liquid argon supply is tight, the market mentality is still good. Liquid oxygen, liquid nitrogen is oscillating downward, the atmosphere has turned weak.

[Introduction] Recent liquid argon performance is good, since late October since the Hubei Military Games, the southern liquid argon rose one after another, driving the northern market turnover atmosphere. At present, the military games have ended, but by the enterprise maintenance increased support, the southern liquid argon supply is tight, the market mentality is still good. Liquid oxygen, liquid nitrogen is oscillating downward, the atmosphere turned weak.

Recent industrial gases market differentiation is obvious. Among them, the overall performance of liquid argon, supported by the tightening of supply in the South, the North increased resources to the South, prices rose steadily. Liquid oxygen, liquid nitrogen is first up and then down, driven by demand in late October, the South rose significantly. Into November, the downstream support weakened, liquid oxygen, liquid nitrogen back to the downtrend.

Zhuochuang data monitoring, as of this Thursday, China's air separation work rate at 66.86%, compared with the previous period decreased by 2.48 percentage points. Influenced by the weak demand, the enterprise shutdown maintenance, reduce the negative increase, resulting in the decline of China's air fraction utilization rate is obvious.

Zhuochuang sampling data show that the current air separation operating rate in the low and low level of enterprises accounted for 29%, an increase of 7%; air separation operating rate of high loaders accounted for 26%, flat. Air separation operating rate in the high load accounted for 45%, a decrease of 7%.

Zhuochuang sampling data show that at present, liquid oxygen inventory maintained in the low and low level accounted for 38%, a decrease of 11%; medium inventory accounted for 53%, an increase of 6%. The ratio of medium-high and high inventory is 9%, increased by 5%.

Demand for liquid oxygen in the north was weak, and prices slowly went down. South first rose and then fell, mainly in the East China market, the trend in late October is still good, by the tightening of supply, demand increased support, prices rose one after another. Into November the atmosphere turned weak, prices downward, reducing the surrounding mentality. According to Zhuochuang data monitoring, as of now Hebei liquid oxygen mainstream factory at 400-500 yuan / ton, flat compared with the previous period. Shandong mainstream factory in 650-750 yuan / ton, up 50-100 yuan / ton compared with the previous period. Henan mainstream factory at 500-550 yuan / ton, flat compared with the previous period.

Zhuochuang sampling data show that the current in the high and high level accounted for 4%, a decrease of 2%; low and low level accounted for 54%, flat; medium inventory accounted for 42%, an increase of 2%.

Liquid nitrogen in the north lacked momentum, with prices slowly moving downwards. The south rose first and then fell, and in late October, with the increase in downstream demand, many places in East China rose, boosting the enthusiasm of the surrounding market. But the good times did not last long, the atmosphere began to weaken at the beginning of November, and prices in East China and Central China went down steadily. According to Zhuochuang data monitoring, as of now the mainstream factory in Shandong in 650-750 yuan / ton, up 50 yuan / ton compared with the previous period; Hebei mainstream factory in 450-600 yuan / ton, the low price of 50 yuan / ton compared with the previous period; Henan mainstream factory in 450-550 yuan / ton, down 100 yuan / ton compared with the previous period; Hubei mainstream factory in 550-600 yuan / ton, the low price of 50 yuan / ton compared with the previous period; Guangdong mainstream factory in 700-600 yuan / ton, the low price of 50 yuan / ton; Guangdong mainstream factory in 700-600 yuan / ton, the low price of 50 yuan / ton compared with the previous period The mainstream factory in Hubei is at 550-600 yuan/ton, with the low price up 50 yuan/ton compared with the last period; the mainstream factory in Guangdong is at 700-850 yuan/ton, with the high price up 50 yuan/ton compared with the last period.

Zhuochuang sampling data show that the current liquid argon inventory 22% in the medium level, 8% less than the previous period; low as well as low inventory accounted for 77%, an increase of 9%; high as well as high inventory accounted for 1%, a decrease of 1%.

Toward the end of October, Hubei Wuhan Military Games ended, but the slow growth rate of production of the main enterprises, coupled with the parking of an enterprise in Jingmen, resulting in a slow rise in supply in Hubei. At the same time, Hunan, Jiangxi, Guangxi and the area of sales without pressure. Driven by this, the southern liquid argon prices rose one after another, pushing the northern market atmosphere improved, prices rose slightly. According to Zhuochuang data monitoring, as of now the mainstream receiving price in Guangdong region in 2000-2300 yuan / ton, up 400-600 yuan / ton compared with the previous period; Hubei 1700-1800 yuan / ton, up 600 yuan / ton compared with the previous period; Henan mainstream factory in 1200-1400 yuan / ton, up 450 yuan / ton compared with the previous period; Shandong mainstream factory in 1150-1300 yuan / ton, up 500 yuan / ton compared with the previous period The mainstream factory in Hebei is in the range of 900-1200 yuan/ton, up 300-500 yuan/ton compared with the previous period.

3 Research Summary

Through the research, we know that with the falling temperature and the escalation of atmospheric control, the downstream demand for liquid oxygen and liquid nitrogen continues to be limited, and it is expected that liquid oxygen and liquid nitrogen will continue to oscillate downward in the short term. Liquid argon rose one after another, and now as the arbitrage expands, although the northern resources to the south increased, but at the same time the main enterprise overhaul is also more concentrated. Supported by this, Zhuochuang is expected to short-term liquid argon local still have room to rise.