The stocking has started! Many chemical giants are now in supply crisis!

Recently, LyondellBasell, the world’s third-largest acetic acid producer, caused 2 deaths and 6 injured in an acetic acid leakage accident. Then LyondellBasell sent three letters to inform customers that due to the impact of the leak, vinyl acetate, tert-butyl acetate and The force majeure of acetic acid-related products such as propylene glycol methyl ether acetate takes effect immediately.

Recently, many leading overseas chemical companies have encountered force majeure, equipment and facilities cannot operate normally, resulting in extended delivery or unable to deliver. Some chemical companies have not lifted the force majeure at the beginning of the year, and the market supply was once interrupted, causing many chemical workers to worry.

SABIC, Dow, Covestro and other chemical industry leaders are now in supply crisis

SABIC: Flooding in Europe damaged naphtha pipelines in Europe, thereby affecting the local HDPE/LDPE/LLDPE ethylene supply. SABIC has previously announced the force majeure upgrade of LDPE in the Netherlands. At present, the company has expanded the upgrade stage and announced that its entire PE production in Europe has encountered force majeure.

Dow: The supply of the 340,000-ton/year MDI device in Texas, USA was interrupted due to unexpected mechanical failures by the raw material supplier. The MDI force majeure announced by Dow in February this year still exists.

DuPont: "Zytel" brand PA6 PA66 and HTN material (PPA), Minlon (PA6.6GF) and "Rynite" brand PET are currently under force majeure.

Yanbu National Petrochemical Company: Its PP and LLDPE plant unexpectedly shut down. The plant is located in Saudi Arabia and has polypropylene (PP) and LLDPE (LLDPE) plants. It has not yet given a clear recovery plan.

Covestro: The 320,000-ton/year MDI device in Texas, USA, and the 420,000-ton/year MDI device in Brunsbitt, Germany are both in the force majeure stage.

Gazprom: The company's low-density polyethylene (LDPE) and high-density polyethylene (HDPE) equipment will be repaired. The shutdown period will last 30 days (approximately until late August).

Vinnolit: The supply of raw materials to the factory near Cologne has problems, and the rail connection and some of the infrastructure for the production of PVC and VCM (vinyl chloride) have been affected accordingly.

AnQore: The acrylonitrile plant in Geleen, the Netherlands suffered force majeure, and its output was reduced by about half.

Leading companies such as Eastman, Dow, and Mitsubishi have increased their prices wildly due to shortage of supply

Many leading chemical companies have encountered force majeure, which has undoubtedly pushed up the anxiety of the chemical market. The superimposed cost of panic buying continues to soar and freight rates have continued to rise. Overseas chemical leaders have announced price increases, which has led the industry to start a new round of price increases.

Sigo Petroleum Corporation of the United States: Starting from August 7th, Toluene will rise by US$0.01/lb (approximately RMB 142/ton), and Xylene (delivered from Texas and Chicago), rubber solvents, fuels and other products will rise by US$0.04/lb. (Approximately RMB 567/ton).

WACKER: Starting from August 9, the price of dispersions and dispersible powders in North America will increase by 10%.

J-PLUS Co., Ltd.: Starting from August 10, adipic acid plasticizers will rise by more than 30 yen/kg (about RMB 1,770/ton), and polyester plasticizers will rise by more than 50 yen/kg ( Approximately RMB 2950/ton).

Dow: The price of EA and glycol ether series products in North America that will be shipped from August 15th will increase by up to 0.15 USD/lb (approximately RMB 2128/ton).

Eastman: Starting from August 15th, the price of acetic acid series products will be increased, with a maximum increase of 1,418 CNY/ton.

Nippon Denka: Starting from August 16th, the global price of neoprene products will rise, and foreign countries will increase by 500 US dollars/ton or 450 euros/ton (about RMB 3,200-3500/ton).

Idemitsu Fine Chemicals Co., Ltd.: Starting from August 20, olefin-based synthetic resin composite materials will rise by more than 10 yen/kg (approximately RMB 589/ton).

Mitsubishi Chemical: Starting from August 20, the price of bisphenol A will increase by more than 20 yen/kg (approximately RMB 1176/ton).

Mitsubishi Chemical: Starting from August 20, Acetone will be increased by more than 19 yen/kg (approximately RMB 1,117/ton), and MIBK and DAA will be increased by more than 24 yen/kg (approximately RMB 1,411/ton).

Suzuka Fine Co., Ltd.: Starting from September 1, paints and thinners will increase by 5%-20%, aerosol products will increase by 10-20%, and shipping costs will increase by 10-20%.

Tosoh (TOSOH): Starting from September 1, the price of industrial-grade thenardite products will increase by 10 yen/kg (approximately RMB 588/ton).

Osaka Rubber: Starting from September 1, rubber sheets and rubber products will rise by 10%-20%.

Nippon Paint: Starting from September 21, thinners will increase by 15-20%, solvent-based paints will increase by 10-15%, water-based paints and surface treatment agents will increase by 8-12%, and freight costs will increase by 10-30%.

Irumagawa Rubber: Starting October 1, the prices of all products will increase by 10-20%.

According to incomplete statistics, more than a dozen overseas chemical giants have announced price increases, and all of them have notified the price increase in advance. Some leading companies have even arranged the price increase in September and October. At present, my country still relies on overseas imports for many high-end raw materials, and the tight supply in overseas markets will undoubtedly drive up the price of domestic chemical products.