'Diarrhea' crude oil plummeted, dozens of chemicals dragged down!

In the Silicon Valley bank collapse storm, oil market oversupply and other factors under the impact of international oil prices have suffered. On March 14, the international oil price fell more than 4%, hit a new low in more than three months, on March 15, WTI crude oil futures fell below $70, hit a new low in 14 months. WTI crude futures for April delivery fell 5.22% after plunging nearly 8% to close at $67.61 a barrel, closing below $70 for the first time since December 2021. Brent crude for May delivery settled down 4.85 percent at $73.69 a barrel, its lowest close since December 2021. The domestic chemical market was affected by the sharp drop in international crude oil, a significant decline.

The prices of more than 30 chemicals fell, and the chemical market remained weak

Energy collective slump, behind the increase of macro systemic risk, which also led to the continued weakening of some chemical prices. Since March, the prices of more than 30 chemical raw materials have fallen.

Tgic quoted a price of 27,000 yuan/ton in mid-March, down 3,000 yuan/ton from the price in early March, down 10.00%;

Soybean oil in the middle of March was 8166 yuan/ton, down 874 yuan/ton from the beginning of March, down 9.67%;

Butyl acrylate in the middle of March 9383 yuan/ton, compared with the early March price down 967 yuan/ton, down 9.34%;

Ethylene glycol in the middle of March 4040 yuan/ton, compared with the early March price down 230 yuan/ton, down 5.39%;

Tdi17766 yuan/ton in mid-March, down 1000 yuan/ton compared with the price in early March, down 5.33%;