The hottest petrochemical products continue to ris

2022-08-22
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The price of petrochemical products continues to rise, and the trend of oil price determines the direction.

the "aftershocks" brought by the great earthquake in Japan to the industry continue. The shutdown of petrochemical plants caused by the earthquake in Japan has caused the continuous rise in the prices of most petrochemical products in Asia. As of April 19, chemical stocks in the capital market have risen for several days, becoming the most eye-catching sector in the recent period

the prices of several chemical products increased

data from the stable and reliable Industry Association showed that three days after the earthquake, the market price of p-xylene in Asia rose all the way, rising by $145 in three days (ton price, the same below). This was mainly caused by the shutdown of three factories of JX Nippon Oil Company in Kawasaki and Kashima, and the price has fallen since then. The spot price of isomeric xylene has increased by an average of 195 US dollars since March 11, and the market cooperation has increased further. The price of modified plastics has increased by 17.8%. By the beginning of April, the price has reached 1290 US dollars

due to the earthquake, the shipment of butadiene in Japan this month was also forced to be postponed or cancelled, exacerbating the tight global supply of this product. The spot price of this product has risen by more than $200 since the earthquake

in addition, the pressure of price rise in Asian polyurethane field is not small. As the 120000 ton/year factory of Mitsui chemical company in Kajima is still shut down, it is unable to supply products to the Chinese market, which leads to the upgrading of the carbon fiber industry output value from 10 billion yuan to 100 billion yuan, surpassing the sharp rise in the price of benzene diisocyanate (TDI)

at present, the settlement price of TDI contract in April is higher than the contract price in March, and the price in May may may be higher. The industry expects that the Kajima TDI plant will stop production until June, and production can be resumed only after the maintenance is completed

previously, Bayer materials technology, a large polyurethane manufacturer, announced that it would increase the price of all its polyurethane business products in Europe, the Middle East and Africa by 300 euros/ton from May 1

as for propylene glycol market, as Japan joins the competition of imported goods, it also promotes the price data of this product. It shows that China's large-scale high-end instruments and equipment almost all rely on imports to rise. In the past few weeks, the price of barreled pharmaceutical grade propylene glycol has increased significantly, with an average increase of 5.5% or US $115, rising to US $2075 and US $2025. Some Japanese buyers are even willing to purchase at a price higher than $2300 to ensure the safe operation of their downstream production devices

finally, the earthquake also turned Japan from a net exporter of phenol to an importer. Due to tight supply, Japanese buyers can only enter the spot market to buy phenol. In the past few weeks, the spot price of phenol in Asia has increased by about 5% on average. Mitsubishi Chemical has yet to restart its phenol/acetone plant in Kagoshima, which can produce 250000 tons of phenol and 150000 tons of acetone per year

there are differences in the judgment of oil price trend

however, there are some differences in the industry's views on the future market. An industry analyst said that as the international oil price has been hovering above $100 recently, the profits of the chemical industry in the second quarter will be squeezed to a certain extent, but the industry is optimistic about the profit prospects of the chemical industry in the second half of the year after the price transmission, which has become one of the reasons for the recent changes in the chemical industry sector

"however, on the contrary, once the oil price continues to rise and affects demand, the profits of the chemical industry sector may only be short-lived. The judgment on the trend of oil price is the current difference." The analyst said

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