Soaring 5678 yuan/ton! The chemical plant is discontinued for maintenance! The price increase is here again!
Recently, equipment maintenance plans in the coatings and chemical industries are more frequent, and it is expected that the parking and maintenance of major chemical plants in the second half of the year will generally be more intensive than that in the first half of the year. This will lead to a sharp drop in chemical production capacity and an imbalance between supply and demand.
Iran's petrochemical industrial park due to the thermal power and industrial gas transformation in the park may cause the enterprises in the park to reduce the burden and stop until September. The park contains 4 sets of 1.65 million tons/year methanol plants that have been completed and are in trial operation. Once shut down, about 8 million tons/year methanol plants will be shut down until September, which will seriously affect the imported methanol before the end of September Supply, the total supply shrinkage is about 2.4 million tons, half of which is for China.
In East China, Shanghai Huayi's 600,000-ton/year methanol plant is scheduled to be overhauled in June.
In Shandong, Mingyue Chemical's 600,000-ton/year methanol plant is scheduled to be overhauled for 30-35 days from June.
In the northwest, Inner Mongolia Shilin’s 300,000-ton/year methanol plant is scheduled to be overhauled in July.
Qilu Petrochemical's 80,000 tons/year butadiene rubber plant is scheduled to be overhauled from August to September.
Qilu Petrochemical's 230,000 tons/year styrene butadiene rubber plant is scheduled to be overhauled from August to September.
Jilin Petrochemical's 140,000 tons/year styrene butadiene rubber plant is scheduled to be overhauled from June to July.
Lanzhou Petrochemical's 150,000-ton/year styrene butadiene rubber plant is scheduled to be overhauled in June.
LG Chem plans to overhaul the 170,000 tons/year PC device from June to July.
Taihua Idemitsu plans to maintain its 200,000-ton/year PC device from September to October.
Wanhua Chemical’s 210,000-ton/year PC device is expected to be overhauled in August.
Jiaxing Teijin's 150,000-ton/year PC device is scheduled to be overhauled in October.
Ningbo Nanya's 150,000-ton/year bisphenol A plant plans to maintain a maintenance plan from July to August.
Paint companies are busy raising prices
Recently, Shanghai Sanyin Coatings Technology Co., Ltd. issued a letter stating that since the second half of 2020, upstream raw materials have continued to skyrocket, and the cost of coating products has continued to increase. According to market conditions, the prices of chemical raw materials will continue to rise and rise. Starting from June 1st, the architectural coatings category will be adjusted upwards by 10%-15%.
Shandong Benteng Paint Industry Co., Ltd. issued the "Price Adjustment Notice", stating that starting from 8:00 am on May 24, the prices of alkyd products will be raised by 5%, and the prices of some epoxy products and self-painting products will be raised by 5%-10 %, please refer to the product price list for the specific price.
Zhengzhou Qibeili Paint Co., Ltd. issued a price adjustment warning notice, saying that all products (prices) will be increased on June 1.
Shandong Yuzhong New Materials Co., Ltd. issued a notification letter stating that the increase in raw materials caused the cost of self-painting to increase by about 20%. After research, it was decided that the new sales price will be implemented from May 26, and the ex-factory price of all series of self-painting will be increased by about 10%.
In addition, a number of coating companies including Fuster, Sankeshu, Asia Paint, Jiangsu Jiunuo Building Materials, etc. have sent letters to increase the price, with a general increase of about 8%-25%. The products involved include imitation stone paint, latex paint, Engineering paint, floor products, Kiev materials, etc. Many chemical professionals have found that more and more chemical giants have sent letters to join the ranks of product price increases, and companies such as Connors, Exxon Mobil, Dow, Formosa Chemicals and other companies have sent letters one after another. Some companies have even adjusted their increases several times, as if they are announcing with much fanfare that they still occupy a leading position in the industry.
Eastman raised five consecutive times, and giants such as Connors and Dow raised up to 5678 yuan/ton!
According to Eastman's official website, Eastman has increased five times so far. The price increase products include plasticizers, emulsions, polyurethanes, and other plastic products.
Titanium dioxide giant Connors announced an increase in the price of titanium dioxide by 250 euros/ton, 220 pounds/ton, and 300 US dollars/ton (approximately RMB 1923/ton), which will be implemented from July 1.
Equistar Chemicals, a subsidiary of Exxon Mobil and Lyondell Basel, announced an increase in the price of PE products in North America. The two companies stated in a letter to their customers that the price adjustment will take effect on June 1. Exxon Mobil stated that the price of all its LDPE and LLDPE products will be raised by 5 cents/lb (about 710 yuan/ton), and the price of HDPE resin will be raised by 7 cents/lb (about 965 yuan/ton). Equistar Chemicals (quantum chemistry) said that all its grades of PE products will be increased by another 7 cents/lb (about 965 yuan/ton) on the basis of the previous price adjustment.
Dow Chemical and Chevron Phillips Chemical respectively announced an increase in the prices of their respective PE products. Chevron Phillips’ increase was 7 cents/lb (about 965 yuan/ton), while Dow Chemical’s increase was 5 cents/lb (about 710 yuan/ton). The price adjustments were made on June 1. Effective date.
Sumitomo Chemical announced that starting from May 26, it will increase the company's MMA monomer prices by 28 yen/kg (approximately 1649 yuan/ton).
Regarding the current continuous price increase in the chemical industry, industry insiders said that the current round of chemical product price increases is no longer simply driven by market demand, but is also related to the short-term supply shock caused by the epidemic's suppression of supply recovery, the substantial monetary easing policy, and the carbon neutral policy. Regarding, as long as any one of the three factors does not improve, the rise in bulk commodities will be difficult to truly contain. As the epidemic counter-attack, the supply of chemical industry is tight, and domestic chemicals are greatly driven, chemical products such as titanium dioxide and pigments have already appeared in queues. In the short term, tight prices in the chemical industry will be an inevitable trend.
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Market Analysis- Weekly Report- July 16 to July 23, 2021- Hot Products
Market Analysis- Weekly Report- July 16 to July 23, 2021- Hot Products
Up to 179%! Another wave of price increases for global "replenishment" of chemical raw materials strikes
BASF's sales in the second quarter of 19.8 billion euros, a 56% increase year-on-year
Guangdong implemented the model of "Notice on the Registration of Cefadroxil Drug Alliance Regional Group with Quantity Procurement
Customs statistics show that China's fertilizer exports increased in volume and prices in the first half of the year