The chemical giants soared all the way! Eastman raised the prices of nearly 40 raw materials at once! Up to 50%!

WTI crude oil once stood at US$74, and Brent crude oil broke through US$76/barrel in intraday trading, the highest price since the end of October 2018. The strong trend of oil prices is self-evident for the support of the domestic energy and chemical products market!

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.

▶ Tosoh raised the price of PE full resin by about 700 yuan

On June 23, Tosoh Corporation announced that it would increase the price of its full range of polyethylene resin products by 12 yen/kg (approximately 700 CNY/ton) from July 15, 2021.

It is worth noting that the price increase notice of Tosoh's PE resin and paste resin has just come into effect on June 20, and the increase is also 700 CNY/ton.

▶ DENKA raises the price of polyvinyl alcohol PVA

On June 23, DENKA announced to increase the price of polyvinyl alcohol (PVA) products from June 28. The price increase is 45 yen/kg (approximately 2,624 CNY/ton).

▶ IGM increases the price of dimming initiators by up to 50%

On June 22, the world’s leading resin manufacturer IGM announced that it will increase the price of its photoinitiator series from July 1, mainly involving Omnirad™, Esacure™ and Omnipol™ photoinitiator products, according to Different product types and market areas will increase prices by about 10% to 50%.

▶ Kansai Paint raises the price and shipping cost of industrial paint

On June 22, Kansai Paint Co., Ltd. issued a product price revision announcement, announcing an increase in the price and freight of paint and thinner products. From August 1, 2021, Industrial Coatings will be increased by 15-25%, curing agent will be increased by 30-40%, and thinner will be increased by 15-20%; general (construction, anti-corrosion, automobile maintenance) coatings will be increased by 10-20%, dilution The agent will increase by 15-20%; the freight will increase by 10%-15%.

▶ Mitsubishi Chemical raised the price of MMA monomer and its derivatives

On June 21, the methacrylate division of Mitsubishi Chemical Corporation of America announced that it would increase the external selling price of MMA monomer and its derivatives from 850 yuan to 1,280 yuan from July 1.

According to the latest news from GC, due to the continuous price increase or force majeure of major MMA suppliers such as Rohm Chemical, Mitsubishi Chemical, Eastman, etc. in Europe and the United States, the slowdown in demand in the construction, automotive, and protective coating industries is not obvious, and the supply-demand relationship is still very tense. PMMA in Europe and America will rise further in the future!

▶ INOVYN raises the price of Methylene Chloride by about 1,700 yuan

On June 21, INOVYN Americas, a subsidiary of Ineos, announced that it would raise the full range of methylene chloride under the company, with an increase of US$0.12/lb (approximately RMB 1,706/ton).

Dichloromethane is widely used in the manufacture of safe motion picture film and polycarbonate (PC), and the rest is used as paint solvent, metal degreaser, aerosol spray, polyurethane foaming agent, mold release agent, paint remover.

▶ Eastman raises the prices of 37 basic raw materials

On June 18, Eastman announced that it would increase the company’s 37 basic raw materials from July 1, including MMA and its derivatives, all brands of plasticizers, all brands of Neopentyl Glycol, and other products. Up to US$0.20/lb (approximately RMB 2844/lb).

▶ Ashland raises the prices of paints and industrial specialty products

On June 16, Ashland issued three price increase letters in succession, respectively announcing that starting from July 1, the prices of industrial coatings and specialty chemicals, medical/nutritional/agricultural products, and personal care products for households will be increased, with the highest increase. Up to 30%.

At present, in the entire chemical market, we can see that most chemical products are queuing up. On the one hand, it is because of the "monopoly" factor, and on the other hand, because of the geographical conflict, the national currency has "released a lot". In addition, the epidemic situation in some overseas areas has not yet 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, which has led to short-term strategic shifts in many international companies, and order backflow in some regions.