Crude oil skyrocketed! Collective price increase of chemical raw materials!

Recently, international crude oil has continued to skyrocket with new highs. In early trading on the 23rd, the main crude oil rose by about 2%, Brent crude oil rose by about 0.51%, and NYMEX crude oil rose by about 0.43%.

Judging from the main crude oil futures weekly line in the past six months, the rise from 215 yuan/barrel in November 2020 to the current 464 yuan/barrel has completely doubled. The price of Brent crude oil futures has doubled from around US$35.74/barrel in November 2020 to around US$75.30/barrel now.
The continuous rise of crude oil prices is affected by foreign epidemics, geopolitics and other factors. It is understood that the August contract price of WTI crude oil futures reached US$73.47 per barrel on June 22, reaching the highest price in the past 2.5 years. Brent crude oil futures rose by nearly $0.3 in the short-term, and are now quoted at $75.09 per barrel, the first time since April 2019.

Affected by the increase in crude oil prices, many varieties rose during the early trading hours of the domestic futures market on June 23. The main contract for coking coal increased by close to 2.8%, and the main contract for coke and thermal coal increased by about 2%. Styrene rose by more than 3%, and crude oil, thermal coal, methanol, etc. rose by more than 1%. The main contracts of EB, coking coal and Shanghai tin futures all rose more than 2%.

As one of the basic energy products, the price change of petroleum has undoubtedly had a non-negligible impact on the chemical industry. Boosted by the news of rising oil prices, some domestic and foreign chemical companies are also sending letters to announce the increase or privately notify customers of the price increase.

Recently, Primeman announced that starting from July 15th, the price of polyethylene (PE, including HDPE and LLDPE) and polypropylene (PP) products will increase by 10 yen/kg (approximately 586 CNY/ton) or more.

Asahi Kasei announced that polyethylene (PE) and other products will increase by 15 yen/kg (about 882 CNY/ton) from July 1.

On June 23, Boric Acid (industrial grade, high-quality product, content: ≥99.5%) reported 5250 CNY/ton, an increase of 250 CNY/ton from last week's price.
On June 22, the closing price of paraxylene in the Asian region increased by $13/ton.
On June 22, the latest ex-factory price of PROPYLENE oxide was 13,300 CNY/ton, an increase of 100 CNY/ton compared to the previous trading day.
Sinopec Huazhong Sales Company raised the butadiene price of Wuhan Petrochemical by 200 CNY/ton, and implemented it at 9,300 CNY/ton.
Isooctyl alcohol was quoted at RMB 15,133.33/ton, an increase of RMB 1066.66/ton during the month, or 7.58%.
Aniline was quoted at 9,800 CNY/ton, an increase of 666.67 CNY/ton, or 7.30% during the month.
The price of n-Butanol was 14733.33 CNY/ton, an increase of 933.33 CNY/ton within the month, an increase of 6.76%.
Acrylic acid was quoted at 10866.67 CNY/ton, an increase of 666.67 CNY/ton or 6.54% during the month.
Bisphenol A was quoted at 21,880 CNY/ton, an increase of 1080 CNY/ton within the month, an increase of 5.19%.
Dichloromethane was quoted at 4036.67 CNY/ton, an increase of 196.67 CNY/ton during the month. An increase of 5.12%.
DMF quoted at 11033.33 CNY/ton, an increase of 533.33 CNY/ton within the month, an increase of 5.08%.
The price of chloroform was 4462.5 CNY/ton, an increase of 212.5 CNY/ton or 5% during the month.
The price of polymeric MDI was RMB 18,500/ton, an increase of RMB 875/ton during the month, an increase of 4.96%.
Propane was quoted at 4438.25 CNY/ton, an increase of 132.5 CNY/ton or 3.08% during the month.
Pure benzene was quoted at RMB 7,750/ton, an increase of RMB 200/ton during the month, an increase of 2.65%.
Propylene was quoted at 7832.18 CNY/ton, an increase of 117.27 CNY/ton, or 1.52% during the month.
Propylene glycol was quoted at 16066.67 CNY/ton, an increase of 66.67 CNY/ton or 0.42% during the month.
Today, the isooctanoate has risen to 32,000 CNY/ton. According to relevant news, there is still room for growth in the later stage of the drier.

In addition to the crude oil sector, the coal sector has also seen large-scale price increases. Against this background, the industrial chain involved in petroleum and coal chemical industries will be affected to a large extent. The price increase of chemical products in the later period is only time. problem.

At present, in the entire chemical market, the reason why most chemical products are queuing for goods is because of the "monopoly" factor on the one hand, and on the other hand because of geographical conflicts, the national currency is "drafted". In addition, the epidemic situation in some overseas regions has not been effectively controlled. For example, in developing countries such as India and Vietnam, the production capacity of many chemical industries has not been effectively released. This has caused many international companies to have to carry out short-term strategic transfers, resulting in local areas.