Recently, OPEC leader Saudi Arabia said it would extend the voluntary production cut of 1 million barrels per day for three months, October, November, December Saudi Arabia's daily production will be about 9 million barrels, and then it will review the voluntary production cut decision every month to consider further production cuts or increases. In addition, Russia also announced an extended cut in oil exports.
This move has aroused great concern in the global crude oil and related industries, and the prices of many raw materials have also been affected by this, and have risen all the way. It's a 10-month high. U.S. oil WTI rose as high as $2.48 or up 2.9%, once rising above $88, international Brent rose as high as $2.14 or up 2.4%, the first time since November last year to break the two marks of $90 and $91, both the highest intraday since November 13 last year.
Stop repair, suspend quotation... Chemical market supply is rapidly declining
In addition to crude oil, artificial production reduction and control sales in the chemical market are also one after another. Wanhua Chemical, Shaanxi Black Cat, Changchun Chemical, etc., have announced parking maintenance, and the decline in the operating rate of the industrial chain has also provided support for the price increase of chemicals.
Ethylene glycol industry, Shaanxi extended 100,000 tons of equipment on August 24 to stop maintenance, is expected to half a month; Xinhang Energy 400,000 tons of equipment maintenance on August 24, is expected to be about 20 days; Chengdu petrochemical 360,000 tons of equipment plans to stop maintenance at the end of August for 3 months.
MTBE industry, Shenyang wax, Lihua, Yantai Wanhua and other devices are still parked, Lu Shenfa feed, no normal shipment.
BDO industry, Shaanxi Black Cat 60,000 tons of BDO device stopped for maintenance on August 28, BDO external offer is not available.
MDI industry, East Caorui 80,000 tons/year equipment began maintenance, for about a month, Chongqing BASF equipment due to front-end supply problems, the device is stopped. Yantai Industrial Park MDI integration, petrochemical integration and related supporting devices will be discontinued for maintenance, and maintenance is expected to take about 40 days.
In the epoxy resin industry, Changchun Chemical temporarily plans to stop and repair the device from September 11 to September 25, and Jiangsu Ruiheng 180,000 tons/year epoxy resin device stops and repairs.
Following the parking and maintenance, the operating rate of some areas has plummeted, and other "bad news" has also come from chemical enterprises that have not stopped production, Luxi Chemical Industry, Baling Petrochemical, Jiangsu Yangnong, Nantong Star and other chemical leaders began to close and stop selling, and the offer has become a single negotiation and real single negotiation, according to the number of orders and the level of customers for deployment and delivery, so that the buyer's situation is very passive.
LG Chem announced that due to the overall increase in the market, the company is facing a lot of cost pressure, and decided to reprice all the company's brands. Existing dealers said that the full range of LG has been sealed, involving PP, PC, ABS and so on.
Titanium dioxide industry, Annada, Guizhou Shengweifu whole chemical a single discussion, Hunan Chuangda Yutu chemical, Fumin Longteng do not offer.
Epoxy resin industry, Huangshan concentric Qitai, Dongying Hebang, Baling Petrochemical, Jiangsu Yangnong, Nantong star temporarily do not offer, the real single negotiation.
PVC paste resin industry, Ningbo Formosa Plastic seal, Mongolia Chenhongli, Xinjiang Zhongtai seal.
PVC industry, Ningbo Hanwha, Inner Mongolia Yili, Inner Mongolia Yi Dongdongxing do not report;
N-butanol industry, Jiangsu Huachang, Luxi chemical n-butanol is not quoted.
Year-on-year is still low, chemical prices still have room to rise
Despite the fierce rise, the current price is still at a low level compared with the same period last year, such as polysilicon current offer down 72% year-on-year last year, industrial grade/battery grade lithium carbonate current offer down 55% year-on-year last year, DMF current offer down 52% year-on-year last year, lithium hydroxide current offer down 48% year-on-year last year. The current price of lithium iron phosphate is 47% lower than last year. The current quotation of potassium chloride, ammonium sulfate, dimethyl carbonate, silicone, potassium sulfate, ammonium chloride, etc. fell by about 30% compared with last year, the current quotation of epoxy resin, trichloromethane, alkali tablets, phosphoric acid, yellow phosphorus, etc. fell by about 20% compared with last year, and the current quotation of bisphenol A, phenol, propylene glycol, etc. fell by about 10% compared with last year. Butadiene, propane, titanium dioxide, styrene, neopentanediol and other current prices fell by less than 10% compared with last year.
According to statistics, the current quotation of a variety of chemicals showed a downward trend compared with last year, even if it is now the traditional peak season, the price has also gone through several rounds of continuous rises, but the current price is not as good as the shutdown and production and business is bleak during the spread of the epidemic in 2022, it can be seen that the price rebound road still has a long way to go, and the price of chemicals still has room to rise.
