Wanhua, Covestro, BASF Announce Price Cuts

Recently, Wanhua Chemical released a product quotation, and the prices of more than ten products dropped sharply. Among them, the price of PVC-WH800F in South China dropped by 500 CNY/ton to 9,500 CNY/ton; the quotation of n-butanol in North China was lowered by 400 CNY/ton to 9,100 CNY/ton; the price of neopentyl glycol in North China was lowered by 300 CNY/ton to 16,600 yuan /Ton; Propylene quotation is lowered by 150 CNY/ton to 7,700 CNY/ton, butadiene quotation is lowered by 150 CNY/ton to 6000 CNY/ton; MTBE Shandong regional quotation is lowered by 150 CNY/ton to 6,500 CNY/ton ; The quotation of tert-butanol fell 100 CNY/ton to 7,700 CNY/ton.

In addition, Wanhua Chemical recently issued an announcement announcing that the price of MDI has fallen by RMB 1,500/ton, which has also officially stepped on the brakes for MDI products, which had been violently rising. Prices are gradually falling.

According to data released by the National Bureau of Statistics, the purchase price index and ex-factory price index of major raw materials were 52.9% and 48.9%, down 19.2pcts and 12.2pcts, respectively, setting new lows this year. This shows that under the promotion of policies such as “guaranteed supply and stable prices”, the supply of bulk commodities, especially those related to people’s livelihood, has steadily rebounded, driving prices down; in addition, affected by factors such as the US's oil reserves and the outbreak of the epidemic overseas, overseas crude oil The market fluctuated downward, and ICE oil distribution dropped by about 15% in November, and domestic oil prices also fell accordingly.

The price has fallen by 2,000 CNY/ton! Leading companies such as Sinopec, Covestro, Yangzi BASF and others take collective action!

This conclusion has also been well confirmed in the chemical industry. Recently, the prices of more than 100 chemical products have fallen by nearly 50%, with a maximum drop of 15,000 CNY/ton (related reading: complete "crash"! More than 100 chemical raw materials are miserable. Down!), leading companies in the chemical industry, such as Sinopec, Baling Petrochemical, and Covestro, have also started to take action, sending letters or announcements of price reduction notices, and the highest single price reduction is 2,000 CNY/ton. The industry is really rare.

Isooctyl alcohol:
Hualu Hengsheng's quotation fell 200 CNY/ton to 11,500 CNY/ton.
Jianlan Chemical's quotation fell 300 CNY/ton to 11,500 CNY/ton.
Lihuayi’s quotation fell 300 CNY/ton to 11,700 CNY/ton.

Paraxylene:
Sinopec South China's paraxylene price fell by 600 CNY/ton to 6,700 CNY/ton.
Sinopec East China's para-xylene price fell by 600 CNY/ton, and the current price is 6,700 CNY/ton. Yangzi Petrochemical and Zhenhai Refining & Chemical are simultaneously executing.

Butadiene:
Sinopec East China Sales Company lowered the butadiene prices of Shanghai Petrochemical, Zhenhai Refining & Chemical and Yangzi Petrochemical by 300 CNY/ton to 5,900 CNY/ton.

The butadiene price of Sinopec South China Sales Company is lowered by 300 CNY/ton: Guangzhou Petrochemical implements 5900 CNY/ton, Maoming Petrochemical implements 5850 CNY/ton, and Zhongke Refinery implements 5800 CNY/ton.

Isobutyraldehyde:
Lihuayi’s quotation fell by RMB 400/ton to RMB 8,400/ton.
The quotation of Liaocheng Fenze Chemical fell 400 CNY/ton to 8,400 CNY/ton.

Butyl Acetate:
Jiangsu Baichuan Chemical’s quotation dropped by RMB 100/ton and is now at RMB 10,400/ton.
Jiangmen Qianxin’s quotation has been lowered by RMB 100/ton, and it is now quoted at RMB 10,700/ton.
Dongying Yisheng’s quotation has been lowered by RMB 400/ton, and the current price is RMB 10,400/ton.

Phthalic anhydride:
Changzhou Xinyang's price fell 100 CNY/ton to 6,900 CNY/ton.
Shandong Hongxin Chemical's price fell 100 CNY/ton to 7,300 CNY/ton.
The price of Tongling Chemical fell 100 CNY/ton to 7000 CNY/ton.

acetic acid:
Shandong Hualu Hengsheng’s quotation has been lowered by RMB 100/ton to around RMB 6,450/ton.
Shandong Yankuang Cathay Pacific’s offer was lowered by RMB 100/ton to around RMB 6,450/ton.

PA6:
Yueyang Petrochemical’s YH800 (small package) general-purpose grade price fell by 300 CNY/ton to 15,000 CNY/ton.
Baling Petrochemical’s BL3280 general-purpose grade price fell 100 CNY/ton to 15,100 CNY/ton.
The price of Ruimeifu MF800 general-purpose grade fell by 200 CNY/ton to 17,000 CNY/ton.
The price of Ruimeifu M1013B general-purpose grade fell 300 CNY/ton to 17,200 CNY/ton.
The price of Xinhui Meida M2500I injection molding grade fell 300 CNY/ton to 18,000 CNY/ton.
The price of Hunan Yuehua YH800 in Yuyao area fell 300 CNY/ton to 15,550 CNY/ton.

PA66:
The price of Cixi Jieda MTR670 general-purpose grade dropped by 2,000 CNY/ton to 37,000 CNY/ton.
The price of INVISTA U4820L (large package) injection molding grade fell by RMB 500/ton to RMB 43,500/ton.
The price of Liaoning Xingjia P137N fell 200 CNY/ton to 37,000 CNY/ton.
The price of Youxian GR27 dropped by RMB 200/ton to RMB 37,000/ton.
The price of EPR27 from Shenma Industry dropped by RMB 250/ton to RMB 40,500/ton.
Japan's Asahi Kasei 1300S East China region prices fell 500 CNY/ton to 50,500 CNY/ton.
The price of Henan Shenma EPR27 East China dropped by RMB 800/ton to RMB 39,700/ton.
The price of Pingdingshan Shenma EPR27 in South China dropped by RMB 500/ton to RMB 40,200/ton.

PC:
The price of SABIC Middle East 1000R fell 130 CNY/ton to 22,000 CNY/ton.
The price of Lotte Chemical's 1100 model dropped by 300 CNY/ton to 19,400 CNY/ton.
The price of Lihuayi WY-111BR dropped by RMB 200/ton to RMB 20,200/ton.
The price of Taiwan Chemical Idemitsu IR2200 fell by 200 CNY/ton to 20,800 CNY/ton.
The price of Luxi Chemical LXTY1609T-11 fell 200 CNY/ton to 19,800 CNY/ton.
Covestro's 2805 price fell by RMB 200/ton to RMB 19,800/ton.
The price of Zhejiang Railway Gale 02-10R fell 100 CNY/ton to 21,900 CNY/ton.
The price of Taiwan's Chi Mei 110 fell 200 CNY/ton to 20,400 CNY/ton.
The price of Jiaxing Teijin L-1250Y fell 100 CNY/ton to 21,400 CNY/ton.
Thailand's Mitsubishi 2000VR price fell 400 CNY/ton to 23,300 CNY/ton.

PET:
The price of Yizheng chemical fiber water bottle grade dropped by RMB 50/ton to RMB 7,750/ton.
The water bottle price of Zhuhai China Resources dropped 200 CNY/ton to 7,350 CNY/ton.

GPRS:
The price of Ningbo Taihua 525 dropped by 110 CNY/ton to 9970 CNY/ton.
The price of Zhenjiang Chimei PG-33 fell 110 CNY/ton to 10,040 CNY/ton.

EVA:
The price of Yangzi BASF 6110M dropped by RMB 500/ton to RMB 25,500/ton.
BASF's 5110J price fell 600 CNY/ton to 22,200 CNY/ton.

PVC:
The price of Xinjiang Zhongtai SG-5 fell 150 CNY/ton to 9,000 CNY/ton.
Sichuan Jinlu prices fell 150 CNY/ton to 9,300 CNY/ton.

ABS:
The price of Ningbo LG Yongxing 121H fell 400 CNY/ton to 14,800 CNY/ton.
The price of Jilin Petrochemical 0215A fell 130 CNY/ton to 14,620 CNY/ton.
South Korea's BASF GP-22 price fell 120 CNY/ton to 14,730 CNY/ton.

TDI:
Zhejiang Mantangjin Supply Chain Management Co., Ltd. cut its TDI quotation by 200 CNY/ton, domestically produced goods at 14,000 CNY/ton, and Shanghai goods at 14,300 CNY/ton.

Caprolactam:
Sinopec's (liquid acceptance self-pickup) caprolactam listed price premium grade price dropped by 400 CNY/ton to 14,300 CNY/ton.

It is not difficult to see that most chemical products in the domestic market are generally showing a downward trend. Many chemical giants such as Sinopec, BASF, Ningbo LG, Jilin Petrochemical, Hualu Hengsheng, Yangzi BASF, Shenma Group, Asahi Kasei, Wanhua and so on are among them. Prior to this, leading chemical companies led by Wanhua and BASF had set off several waves of price increases, but it didn't take long before they changed to collective price reductions. Although the price drop is not large, generally around 300-800 CNY/ton, 1,000 CNY/ton and 2,000 CNY/ton are not many, but for the chemical industry where “price increases are vigorous, and prices fall silently”, it can The collective public price cuts are already very telling.