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Epoxy resin is rising by RMB 6,700/ton! The domestic and international market may fall into the "two heavens of ice and fire"?

Echemi 2021-06-08

Judging from the list of commodity price rises and falls last week, there were only 4 products in the plasticization sector that rose month-on-month. The top 3 products were nitrile rubber (1.28%), PP fiber (0.77%), and PA6 (0.68%). .

The month-on-month decline in products reached 12, and the top 3 products were EVA (-3.91%), HIPS (-3.71%), and styrene-butadiene rubber (-3.34%).

It can be seen that the country's regulation has been quite effective, and the domestic chemical raw materials are still mainly falling, but in contrast, overseas, the voices of price increases are still one after another! Sending out four or five price increase letters at a time is commonplace! The domestic and international market may fall into the "two heavens of ice and fire"?

Centralized suspension of production for 15 days,
Epoxy resin is rising by RMB 6,700/ton!

Recently, news came from the Huangshan area of Anhui that the Shexian Circular Economy Park will stop steam supply for annual maintenance at 10 am on June 7, 2021, and the furnace is expected to be shut down for about 15 days. Local epoxy resin companies remind customers that if they need to stock up, they can stock up in time.

The epoxy resin industry has been ups and downs since the beginning of this year. The supply of epoxy resins has been very unstable due to multiple factors such as environmental protection suspension and production restrictions, steam suspension, and annual maintenance. For 10 days, the furnace has been shut down for nearly half a month, which is expected to have an impact on the supply of products, or a reversal signal of the market since the epoxy resin peaked and plummeted in late April.

In foreign countries, epoxy resin has been the first to increase. Mitsubishi Chemical announced that it will increase the prices of epoxy resins and epoxy curing agents from June 1, including:
The increase of bisphenol A type/F type epoxy resin is 100 yen/kg (about 5822 yuan/ton),
The epoxy resin thinner series is 47~93 yen/kg (about 2736-5414 yuan/ton),
Special epoxy resin is 18-19 yen/kg (about 1048-1106 yuan/ton),
The epoxy resin hardener is 73-115 yen/kg (approximately 4249-6695 yuan/ton).

Collective price increase of overseas chemical raw materials!
The highest increase is 4700!

In addition to the epoxy resin industry, chemical giants such as BASF, Toray, and Shin-Etsu Chemical have recently increased their prices several times in a row. It seems to be trying to catch the tail of this price increase, but it is more like a negotiation. The prelude to the price increase in June!

▶ BASF Japan: On May 21, it was announced that the price of plastic additives in BASF's Japan branch will increase by up to 20% from now on due to the increase in plastic additives at the BASF headquarters.

▶ Venator Venator: Since July 1, the global price of all its titanium dioxide (titanium dioxide) pigments used in coatings, plastics, inks and paper has risen. The increase is as follows:
EMEA (Europe, Middle East and Africa): 180 Euro/ton or 200 USD/ton;
Asia Pacific/Latin America: US$200/ton;
North America: US$0.08 per pound (about 1300 yuan/ton);

▶ Pigment resin giant DIC: On July 1st, it will increase polystyrene (PS) products and styrene series products. The up-regulated products include styrene, GPPS, HIPS, and elastic ethylene, all with an increase of 27 yen/KG (approximately 1,572 yuan/ton) or more.

▶ Toray Co., Ltd.: Starting from June 1st, the company's PPS resin price will be increased by the following increase:
PPS base resin is increased by 80 yen/KG (approximately 4658 yuan/ton);
PPS polymer resin increased by 50 yen/KG (approximately 2,911 yuan/ton).

▶ Global silicone giant Shin-Etsu Chemical: Starting from July 1st, it will increase the price of polyvinyl chloride (PVC) resin by 10 yen/kg (about 582 yuan/ton).

▶ Japan's Kakabuchi Chemical: On May 20, it announced that the company's polyvinyl chloride (PVC) resin prices would increase on June 15 by 10 yen/kg (about 582 yuan/ton).

▶ DENKA (Nippon Denka Co., Ltd.): Announced that from June 15th, 9 products including ABS, AS, ABS/PC alloy, etc. will all be raised by 25 yen/kg (approximately 1455 yuan/ton).

▶ Japan Daiichi Vinyl Chloride Co., Ltd.: announced that it will increase the prices of PVC general-purpose resins and PVC paste resins starting on June 25, with an increase of more than 12 yen/ton (about 701 yuan/ton).

▶ PS Japan Co., Ltd.: announced that the price increase of the company's polystyrene (PS) will be 27 yen/kg (approximately 1,572 yuan/ton) from July 1st.

▶ Toyo Styrene Co., Ltd.: Announced an increase in polystyrene (PS) products on July 1. The up-regulated products include GPPS, HIPS, special PS and flame-retardant PS.
Flame-retardant PS increased by 42 yen/KG (approximately 2453 yuan/ton),
The other products have risen above 27 yen/KG (approximately 1,572 yuan/ton).

▶ COIM USA: Subject to the contract terms, it will increase the price of its Isoexter® aromatic polyester polyol products in the United States and Canada from July 1st. Such products are used in the board field. The price increase is 0.13 US dollars/lb, mainly due to the continuous increase in raw materials and transportation costs.

▶ Aike Resin: Starting from July 21st, the price of some resin products will be adjusted, and the increase will be between 10-15%.

Judging from the price increase letter, the newly added price increase raw materials are mainly resin-related overseas chemical raw materials products. This wave of price increases is to drive up the price of domestic chemical raw materials?

CCTV roll call!
Is it "hard to find a box" with a price increase of nearly 10 times?

At present, the freight rate has soared 10 times and the situation that a box is hard to find has once again attracted the attention of the CCTV media!

Since the third quarter of last year, the phenomenon of shortage of containers and containers has spread in major ports. Some routes may not be able to grab a container if they increase the price by US$3,000!

There are also a large number of manufacturers who are bothered by the lack of boxes. The warehouse of a handicraft manufacturer in Ningbo is full of products that have not had time to be transported away, totaling 1,000 cubic meters.

And the price of containers is still soaring. In the first half of 2020, the price of a 20-foot box was US$1,600, and now it has risen to US$3,600. The price of the popular 40-foot box has risen to US$5,950. The price has all doubled and hit a record high.

In addition, a home appliance company in Guangzhou has already placed its export orders for two months, and the workshop is rushing to produce TV sets to be sent to Europe and the United States. However, the person in charge of enterprise logistics was unhappy, saying that the current container (container) resources are very tight, and booking space is also very difficult.
Coupled with the deterioration of the overseas epidemic, chaotic shipping schedules and port congestion are happening all over the world. Currently, at least 7 of the 10 busiest ports in the United States often face congestion. In major ports in Southeast Asia and Europe, the waiting time for ships to berth has reached more than one week.

Maersk, the world's largest container shipping company, said that the second outbreak of the new crown epidemic in India has caused a huge impact on the company's business. If the ban on crews extends from a few weeks to a few months, it will bring challenges to our industry.

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