Domestic Oil and Chemical Prices Experience Fluctuations: Updates on Oil Price Adjustments and Chemical Industry Raw Material Prices

This year, domestic oil prices have been adjusted a total of 16 times, with 8 increases, 6 decreases, and 2 instances of price adjustments remaining unchanged. Gasoline prices have increased by a total of 615 yuan/ton, while diesel prices have increased by 590 yuan/ton, resulting in an equivalent increase of 0.49 yuan/liter to 0.57 yuan/liter. Filling a 50-liter fuel tank now costs 24.5 yuan more compared to January 1, 2023.

The rise in domestic refined oil prices is naturally influenced by the fluctuation of international crude oil prices. Last week, international oil prices continued to rise due to reduced supplies from Saudi Arabia and Russia, as well as low US petroleum inventories. New York crude oil futures increased by 0.45%, and Brent crude oil futures increased by 0.66%, marking the seventh consecutive week of increases.

Compared to early July prices, prices for more than 20 types of direct raw materials and derivative materials in the petrochemical industry have increased. Several of these materials have experienced double-digit price increases, with price hikes exceeding thousands of yuan per ton.

Recent prices for various chemicals in the chemical industry have increased:

- Acetone is currently priced at 6,750 yuan/ton, an increase of 1,575 yuan/ton or 30.43% compared to early July.
- Phenol is currently priced at 8,125 yuan/ton, an increase of 1,575 yuan/ton or 24.05%.
- Styrene is currently priced at 8,655 yuan/ton, an increase of 1,355 yuan/ton or 18.56%.
- Isopropanol is currently priced at 7,600 yuan/ton, an increase of 1,125 yuan/ton or 17.37%.
- Aniline is currently priced at 11,320 yuan/ton, an increase of 1,520 yuan/ton or 15.51%.
- BPA is currently priced at 10,625 yuan/ton, an increase of 1,375 yuan/ton or 14.86%.
- Adipic acid (domestic) is currently priced at 9,775 yuan/ton, an increase of 1,225 yuan/ton or 14.33%.
- Liquid epoxy resin is currently priced at 14,900 yuan/ton, an increase of 1,800 yuan/ton or 13.74%.
- Solid epoxy resin is currently priced at 13,700 yuan/ton, an increase of 1,500 yuan/ton or 12.30%.
- Toluene is currently priced at 7,935 yuan/ton, an increase of 755 yuan/ton or 10.52%.
- Butadiene is currently priced at 7,625 yuan/ton, an increase of 700 yuan/ton or 10.11%.
- MDI is currently priced at 17,100 yuan/ton, an increase of 1,000 yuan/ton or 6.21%.
- TDI is currently priced at 18,650 yuan/ton, an increase of 1,000 yuan/ton or 5.67%.

Some domestic raw material prices have rebounded, with significant increases seen in materials such as propylene glycol, pure benzene, crude benzene, MDI, and epoxy resin. Ammonia and acrylic acid prices have also increased by more than 50% in the past half month. The market is characterized by a tense atmosphere, with epoxy resin and bisphenol A temporarily ceasing quotations and reducing exports.

Prominent updates in the chemical industry's raw material prices!

- Epoxy resin manufacturers have temporarily suspended quotations.
- Zhejiang Haobang Chemical Factory is not providing new quotations and prioritizes negotiation based on actual orders.
- Balin Petrochemical E-51 (CYD-128) is not providing quotations and focuses on individual negotiations for each order.
- Shandong Deyuan's new order for E-51 is not quoted, with emphasis on negotiation based on actual orders.
- Kunshan Nanya's E-51 (NPEL128) for new orders is not quoted, with emphasis on individual negotiations for each order.
- Balin Petrochemical's solid E-12 (CYD-604) for new orders is not quoted, with emphasis on individual negotiations for each order.
- Dongfang Feiyuan's 75,000-ton/year liquid epoxy resin plant is undergoing maintenance, with a focus on self-use and negotiations based on actual orders.
- Dongying Hebang is not providing new quotations.
- Nantong Xingchen's 160,000-ton/year epoxy resin plant will undergo maintenance on August 10. The new E-51 (0164) order does not have a definite quotation, with emphasis on individual negotiations for each order.

This year, there have been a total of 16 adjustments to domestic oil prices in China, with 8 increases, 6 decreases, and 2 instances where the prices remained unchanged. The price of gasoline has increased by a total of 615 yuan per ton, and the price of diesel has increased by 590 yuan per ton, which is equivalent to an increase of 0.49 yuan to 0.57 yuan per liter. Filling a 50-liter fuel tank now costs 24.5 yuan more compared to January 1, 2023.

The increase in domestic refined oil prices is closely related to the international crude oil prices. Last week, international oil prices continued to rise due to reduced supplies from Saudi Arabia and Russia, as well as low US petroleum inventories. Both New York crude oil futures and Brent crude oil futures increased for the seventh consecutive week, with New York crude oil futures rising by 0.45% and Brent crude oil futures rising by 0.66%.

Compared to early July prices, prices for more than 20 types of direct and derivative raw materials in the petrochemical industry have increased. Several materials have experienced double-digit price increases, with some ton prices increasing by over a thousand yuan.

The chemical industry has seen price increases in over 20 types of raw materials:

- Acetone is currently priced at 6,750 yuan per ton, an increase of 1,575 yuan per ton or 30.43% compared to early July.
- Phenol is currently priced at 8,125 yuan per ton, an increase of 1,575 yuan per ton or 24.05%.
- Styrene is currently priced at 8,655 yuan per ton, an increase of 1,355 yuan per ton or 18.56%.
- Isopropanol is currently priced at 7,600 yuan per ton, an increase of 1,125 yuan per ton or 17.37%.
- Aniline is currently priced at 11,320 yuan per ton, an increase of 1,520 yuan per ton or 15.51%.
- BPA is currently priced at 10,625 yuan per ton, an increase of 1,375 yuan per ton or 14.86%.
- Adipic acid (domestic) is currently priced at 9,775 yuan per ton, an increase of 1,225 yuan per ton or 14.33%.
- Liquid epoxy resin is currently priced at 14,900 yuan per ton, an increase of 1,800 yuan per ton or 13.74%.
- Solid epoxy resin is currently priced at 13,700 yuan per ton, an increase of 1,500 yuan per ton or 12.30%.
- Toluene is currently priced at 7,935 yuan per ton, an increase of 755 yuan per ton or 10.52%.
- Butadiene is currently priced at 7,625 yuan per ton, an increase of 700 yuan per ton or 10.11%.
- MDI is currently priced at 17,100 yuan per ton, an increase of 1,000 yuan per ton or 6.21%.
- TDI is currently priced at 18,650 yuan per ton, an increase of 1,000 yuan per ton or 5.67%.

Some domestic raw material prices have rebounded significantly, including propylene glycol, pure benzene, crude benzene, MDI, and epoxy resin. Ammonia and acrylic acid prices have experienced over a 50% increase in the past half month. Epoxy resin and bisphenol A have temporarily suspended quotations and reduced exports, creating a tense market atmosphere.

Epoxy resin manufacturers have temporarily suspended quotations, and some chemical factories are not providing new quotations and focusing on individual negotiations for each order. Maintenance and repairs have been carried out in some epoxy resin plants, affecting production and supply.