The Chemical Giant Declares Force Majeure! The Highest Increase Is 35,000 CNY/ton!

According to documents submitted to the Texas regulatory agency, polymer producer Braskem said it had closed its C-line polypropylene (PP) production unit in Laporte, Texas on December 8.

It is reported that the company detected a leak in the PDH device while maintaining the propylene raw material filter. Therefore, the company's operators immediately initiated an emergency response. They isolated the feed filter and shut down the device.

At present, Braskem did not say whether the device will be back online. The annual production capacity of this device is approximately 330,000 tons.

Letter of sky-high price increase: up to about 35,000 yuan

The recent market situation is confusing. The domestic raw material market has fallen more and less, and the overall market is in a downturn. On the contrary, the global price increase has been wave after wave.

1. Eastman soared up to about 35,000 yuan!

On December 9, Eastman, the world’s leading specialty chemical manufacturer, announced the January 2022 product price and announced that it would increase xylene and neopentyl glycol (NPG) from January 1, 2022. 72 The price of a variety of important chemical products, except for North America, has increased by US$0.15-1.5/kg (about 1000-10000 CNY/ton), of which individual products such as chlorinated polyolefin (CPO) series have risen by as much as US$5.38/ Kg (about 34236 CNY/ton).

2. Kuraray: The Asia-Pacific region increased by 3,800 yuan

On the morning of December 13th, Japan Kuraray issued another notice about the price increase of polyvinyl alcohol series products. The notice stated that it will increase Kuraray POVAL™, ELVANOL™, EXCEVAL™ and MOWIFLEX™ PVOH from December 14th. (Polyvinyl alcohol) in the global price, the Asia-Pacific region has increased by 0.6 US dollars / kg (about 3817 CNY/ton).

On December 14, Kuraray issued a notice on the price increase of polyester filament yarn and textiles, with the increase ranging from 5% to 15%. The price increase letter will be effective from January 1, 2022.

3. OQ Chemistry: an increase of 1900 yuan

On December 10, OQ Chemical announced that it would increase the prices of all grades of 1,3BG (1,3-butanediol) products worldwide from January 1, 2022, except for Europe and the United States (including China), the increase in other regions is between 300 US dollars / ton (about 1909 CNY/ton).

4. Mitsubishi Engineering Plastics: China rose about 2,600 yuan

On December 10, Mitsubishi Engineering Plastics (a joint venture between Mitsubishi Chemical Corporation and Mitsubishi Gas Chemical Co., Ltd.) issued a letter stating that it would increase the price of IUPITAL™ POM (polyoxymethylene) series products from January 1, 2022, including China The increase is 2.6 yuan/kg (2600 CNY/ton).

5. Longbai Group: Raise the price of titanium dioxide again

On December 14, Longbai Group issued a letter stating that starting from January 1, 2022, the company’s various types of titanium dioxide (including sulfuric acid method titanium dioxide, chloride method titanium dioxide) will increase the sales price of various types of domestic customers on the basis of the original price. RMB 1,000/ton, and an increase of USD 150/ton for various international customers.

6.DIC: increase the price of PPS resin, up to about 4000 CNY/ton

On December 10, Japanese PPS (polyphenylene sulfide) manufacturer DIC announced that it has decided to adjust the price of PPS resin product "DIC.PPS" from December 20, 2021.

Due to the sharp increase in the prices of raw materials and auxiliary materials and logistics costs, the cost of products has further increased. For a long time, DIC has been taking various rationalization measures, but this situation has exceeded the limit that it can absorb. In order to maintain and improve the stable supply and quality in the future, DIC decided to adjust the price. The price adjustment range of each product is as follows:

Increased PPS resin by 40 yen/kg (approximately 2243 CNY/ton);

Non-reinforced grade and PPS pure resin products are raised by 70 yen/kg (approximately 3926 CNY/ton).

Toray’s PPS price increase notice also took effect at the beginning of this month! It is worth noting that DIC and Toray are the world's largest and second largest PPS producers, respectively. In addition, Xinhecheng, the largest domestic PPS producer, has temporarily suspended production due to force majeure in Shaoxing.