On the 19th), the commodity futures market opened in a large area, with styrene rising among the top. The main contracts of styrene futures rose more than 4%, the main contracts of Shanghai tin and ethylene glycol futures rose more than 3%, and the main contracts of LPG, methanol, Shanghai nickel, stainless steel, No. 20 rubber, PP and Shanghai zinc futures rose more than 2%.
After the Spring Festival, the prices of dozens of chemical raw materials such as bisphenol A, n-butanol, neopentyl glycol, and isobutyraldehyde have soared, with a maximum increase of 1,000 yuan per ton, or even more than 50%. The resumption of work and production was a good start.
DSM increases global prices of Dyneema® and Trosar™
On February 15, Royal DSM announced that it would increase the global prices of its Dyneema® and Trosar™ ÙHMWPE products by an average of 15%. The price increase is applicable to multiple markets and applications, and will take effect as soon as possible from March 1, 2021 or as soon as the contract terms allow.
DSM took this measure in response to extreme fluctuations in raw materials, energy, global transportation and logistics costs, which cannot be completely offset by measures to increase productivity and reduce costs.
BASF raises the price of ecovio® in Europe
On February 16, BASF announced that it will increase the price of its certified biodegradable compound ecovio® in Europe with immediate effect or subject to the contract. The affected grades are as follows:
ecovio® F: +350 Euro/ton (equivalent to approximately RMB 2,725/ton, the same below)
ecovio® M: +350 Euro/ton
ecovio® T:: + 350 Euro/ton
ecovio® is a certified compostable and soil biodegradable bioplastic. Its main application areas are packaging bags for organic waste or fruits and vegetables, cling film and agricultural covering film. Ecovio® can also be used in compostable packaging solutions such as paper coating, shrink film, and thermoforming and injection molding applications.
Asahi Kasei raises the price of nylon 66 [Leona™]
Asahi Kasei issued a document on February 8 that due to the current market conditions, in order to ensure the stability of subsequent supplies, it will increase the price of nylon 66 resin Leona™ by 4,000 yuan per ton.
Changchun Chemical and BASF both raised PBT prices
On February 9, Changchun Chemical issued a PBT price increase letter, and its PBT pure resin price was increased by 3,000 yuan/ton. Changchun Chemical said that the reason for the increase was the continuous rise in the price of BDO, a key upstream raw material.
Recently, BASF issued a price increase letter. Due to the rapid increase in raw material and logistics costs, it will now increase the prices of the following products in the Asia-Pacific region:
The PBT enhanced grade will increase by USD 250 per ton, equivalent to RMB 1,614 per ton;
PBT non-reinforced grade increased by 300 US dollars per ton, equivalent to 1937 yuan / ton;
PA66 non-enhancing agent increased by US$400 per ton, equivalent to RMB 2583/ton; (excluding China)
The price adjustment will take effect on February 4, 2021.
Bisphenol A rose by RMB 6,500/ton, an increase of 50.78%
On the 19th, the bisphenol A market was booming. The East China market was offered at 20,000 yuan/ton, and the North China market was offered at 20,000 yuan/ton. This is an increase of 800-1300 yuan/ton from the beginning of the month, and an increase of 6,500 yuan/ton from the low value of this year. 50.78%, bisphenol A has exceeded 20,000 yuan/ton. Nanya Plastics' bisphenol A plant suspended its offer and the inventory is low. The products are mainly supplied to downstream Kunshan epoxy resin and long-term contract users, with few external sales. Before the holiday, the bisphenol A market rose broadly, and the supply was tight. Traders had a strong attitude of reluctant to sell. After the Spring Festival, the BPA “lived up to expectations” and continued to hit new highs.
Styrene rose by 1805 yuan/ton, an increase of 25.91%
ABS rose by RMB 1,000/ton, or 6.49%
On the 19th, the price of ABS/Jilin Petrochemical/0215A in South China was RMB 16,400/ton (excluding tax), which was an increase of RMB 1,000/ton or 6.49% from the price quoted on the 18th. The price of ABS/Daqing Petrochemical/750A was RMB 15,800/ton (excluding tax). Tax), an increase of RMB 1,000/ton, or 6.75%, compared with the quoted price on the 18th. The domestic ABS market prices in East China and South China have risen sharply, mainly due to the large increase in ex-factory quotations by peripheral styrene, crude oil and petrochemical plants. The market price increase is about 400-1000 yuan/ton, but there is no market. Yesterday’s high-priced transactions were blocked. Styrene and crude oil have risen strongly, but the market is resistant to high-priced sources, and firm transactions are not good. It is expected that prices will remain high in the short term.
PC rose 2,000 yuan/ton, an increase of 8.79%
On the 19th, PC/LOTTE Chemical/PC-1100 in South China was quoted at RMB 19,500/ton (excluding tax), an increase of RMB 500/ton, or 2.63%, from the price quoted on the 18th. PC/Mitsubishi Thailand/2000VR in East China was quoted at RMB 24,750/ Tons (including tax), an increase of 2,000 yuan/ton, or 8.79%, compared with the quoted price on the 18th. The bisphenol A market in East China continued to rise on the 19th. The reference for sporadic negotiations was around 20,000 yuan/ton. Under the expectation of high cost transmission, local PC offers rose sharply. Under the trend of high raw material prices, the cost pressure of PC manufacturers continues to rise, so individual factories continue to increase; some manufacturers have not returned to the market during the week, and the downstream market just needs to be purchased to be restored, the transaction atmosphere in the market is thin, and the focus of high-price negotiations needs to be consolidated.
PVC rose by 200 yuan/ton, an increase of 2.51%
Pure benzene rose by RMB 1,100/ton, an increase of 23.5%
On the 18th, the price of pure benzene was 5780 yuan/ton, an increase of 1100 yuan/ton or 23.5% from the beginning of the month. The quotation in East China has reached 6000 yuan/ton. During the Spring Festival, strong crude oil and unscheduled shutdowns of some installations in the United States triggered a sharp increase in the price of pure benzene on the outside, with FOB Korea rising by US$40/ton to US$776/ton from before the holiday. CFR China rose by US$36.5/ton to US$774.5/ton. With the help of the downstream styrene rise for the same reason, the domestic pure benzene rose actively. The price of pure benzene is expected to continue upward from late February to March.
Butanol rose by 2166.67 yuan/ton, an increase of 22.22%
On the 18th, the quotation of n-butanol was 11916.67 yuan/ton, an increase of 2166.67 yuan/ton or 22.22% from the quotation at the beginning of the month. The quotation of n-butanol in East China by Wanhua Chemical was as high as 12100 yuan/ton. International crude oil prices continue to rise, which has played a cost support role for n-butanol. The operating rate of n-butanol fell by 4% in February, the output continued to be low, the spot market continued to be tight, and domestic factories received limited new orders. Before the Spring Festival, foreign n-butanol was shut down for maintenance due to early installations, and the source of imported goods decreased. Due to the cold wave in the United States, the production of n-butanol and upstream and downstream equipment has been reduced, and foreign supplies have continued to be tight. The main downstream demand for butyl acrylate is strong, and the purchase of raw material n-butanol is relatively stable. In March, the downstream has entered the peak demand season, which will further support the demand for n-butanol.
DOP rose 1,900 yuan/ton, an increase of 18.59%
On the 18th, DOP quoted at RMB 12,040/ton, an increase of RMB 1,900/ton, or 18.59%, from the quotation at the beginning of the month. On the first day of the return to the market after the holiday, the upstream octanol price got off to a good start, pushing up the DOP price. Downstream end users mostly resume work after the 26th. Because the pre-holiday price is higher than in previous years, their inventory is insufficient, and there is a certain concentration of procurement expectations after the holiday, and the DOP price will rise faster after the holiday.
Octanol rose by 1887.5 yuan/ton, an increase of 17.18%
On the 18th, octanol was quoted at RMB 12,875/ton, an increase of RMB 1887.5/ton from the price at the beginning of the month, an increase of 17.18%. Pre-holiday inventory of octanol plants fell to a low level before the holiday, and pre-sales of orders at most factories were good. The downstream plasticizer devices have been restarted one after another, and the raw material reserves of early customers are not sufficient. The increase in rigid demand in the post-holiday market will drive the atmosphere of market activities to increase again. It is expected that the octanol market will continue its upward trend in the near future.
Butyl acrylate rose 1950 yuan/ton, an increase of 16.36%
On the 18th, the price of butyl acrylate was 13866.67 yuan/ton, an increase of 1950 yuan/ton or 16.36% from the quotation at the beginning of the month. After the holiday, the price of the domestic butyl acrylate market ushered in a good start, driven by the sharp rise in the price of raw material n-butanol, and the shortage of the spot market could not be alleviated in the short term. The butanol plant in South China is scheduled to be shut down for maintenance for more than one month in March. It is roughly estimated that n-butanol will affect the supply of more than 8,000 tons, which will cause continued local supply shortage. It is expected that the upstream raw material n-butanol market will still maintain an imbalance between supply and demand after the holiday, and its price will continue to be high. Favorable cost support will promote butyl acrylate to maintain its upward trend.
Toluene rose by 600 yuan/ton, an increase of 14.12%
On the 18th, toluene was quoted at RMB 4,850/ton, an increase of RMB 600/ton from the quotation at the beginning of the month, an increase of 14.12%. Toluene prices in East China, South China, and Central China under Sinopec have been raised. Affected by the extremely cold weather in the United States, energy demand has increased, giving toluene a favorable support. Some downstream companies suspended operations due to force majeure, and the prices of downstream products continued to rise, which drove the rise of toluene. In terms of crude oil, the market is optimistic about vaccines and the new US fiscal stimulus plan, and international crude oil prices continue to rise.
PS market price rose by 650 yuan/ton, an increase of 7.02%
On the 20th, GPPS/Ningbo Taihua/535N quoted a price of 9900 yuan/ton, an increase of 650 RMB/ton or 7.02% from the beginning of the month. HIPS/Ningbo Taihua/8250 quoted a price of 12950 yuan/ton, an increase of 450 yuan/ton from the beginning of the month. , An increase of 3.60%, the PS market price rose, the raw material styrene rose broadly, giving a strong boost to the PS price, and the quotations of holders rose actively.
Polymeric MDI rose by 5.45%, and large factories increased by 2270 yuan/ton
On the 18th, the price of polymeric MDI was 20,000 yuan/ton, an increase of 933.34 yuan/ton or 5.45% from the quotation at the beginning of the month. Tosoh Specialty Chemicals (U.S.) issued a notice to increase the price of MDI for Millionate in North America, stating that from March 1, 2021, or according to the terms of the contract, Tosoh Specialty Chemicals (U.S.) will provide MDI for this brand The price increase is 0.35 USD/kg (approximately RMB 2270/ton).
Affected by the cold wave weather in the United States, the domestic aggregated MDI market is adjusted to the high range before the holiday, and the expected rise after the holiday is relatively sufficient. The domestic heavy-duty truck MDI device was overhauled at the end of February, and the foreign European Huntsman MDI device was overhauled in March. In addition, under the influence of the cold wave in the United States, BASF's MDI device was frozen and Covestro's MDI device was reduced. There are too many news about equipment failures and overhauls abroad. Europe and the United States are in a post-epidemic economic recovery period. The cities and suburbs support the demand for polyurethane applications in the construction, automobile, home appliances, furniture and bedding industries, and support the demand for isocyanates. Domestic raw material exports will There is a good trend, and the domestic aggregate MDI market price is likely to be steadily rising.
Epoxy resin rose 1,000 yuan/ton, an increase of 4%
On the 18th, the quotation of epoxy resin was 26,000 yuan/ton, an increase of 1,000 yuan/ton or 4% from the quotation at the beginning of the month. Some manufacturers have already sealed. Although the price list of some manufacturers has not changed temporarily, the actual order has been raised by more than 1,000 yuan/ton from the base price on the price list. The price of Zhuhai Hongchang liquid epoxy resin is only one step away from 30,000 yuan/ton. During the Spring Festival, epoxy resins were operating steadily. A manufacturing company in Jiangsu, Guodu Chemical, and Hongchang Electronics shut down for a short time. After the suspension of production in Shexian County of Huangshan on January 28, work has not yet fully resumed. Most of them plan to restart around February 21. The orders for liquid epoxy resins were basically filled in February, and demand in downstream wind power, electronics, coatings and other industries is optimistic. The market outlook for liquid epoxy resins is improving, which is a favorable support for epichlorohydrin.
After the holiday, the plastic market will continue to rise
The plastics market under the epidemic in 2020 has made everyone worry about it, and the beginning of 2021 will also continue this unpredictable trend. The extremely cold weather in the United States and other places pushed up international crude oil to a 13-month high. Under force majeure, chemical giants such as Exxon Mobil, Chevron Phillips Chemical Company and Marathon Petroleum Company shut down equipment or even stopped production. The cold wave weather has led to a reduction in US crude oil production, European and American vaccines have been actively promoted, and international oil prices have continued to rise; US commercial crude oil inventories have fallen sharply, vaccines and the US economic stimulus plan continue to boost demand expectations, and the tight supply situation has inevitably pushed up the prices of chemical products. It is expected that the plastics market will maintain an upward trend in the near future, and the prices of raw materials will continue to rise.
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