Soaring 37,000 Yuan / ton! More Than 50 Kinds of Chemical Products Set Off 'Price Increase'!

Recently, international oil prices ushered in a "good start" and rose to a new high since 2014. On the 19th, U.S. WTI crude oil futures rose $1.06, or 1.25%, to $85.89 a barrel, after hitting a seven-year high of $86.41 earlier. Brent crude futures were up $1.02, or 1.17%, at $88.53 a barrel, having earlier hit a seven-year high of $89.04.

The price soared by 37,000 CNY/ton, and crude oil "levied" the price of more than 50 chemical products

In 2022, the international crude oil market is off to a hot start, and has risen by more than 10% since the beginning of the year. Under the circumstance that crude oil inventories are constantly decreasing, buying frenzy and demand are improving day by day, oil prices are expected to continue to soar. As the source-end bulk product of the chemical industry, the surge in oil has undoubtedly moved the fulcrum of the chemical market. The quotations of more than 50 kinds of chemicals such as butadiene, epichlorohydrin, epoxy resin, and silicone have risen significantly compared with last week, with a maximum increase of 37,000 CNY/ton.

Butadiene was quoted at RMB 5,796.25/ton this week, an increase of RMB 1,651.25/ton or 39.84% from last week's price.

Isooctanol was quoted at 12,166.67 CNY/ton this week, an increase of 1,600 CNY/ton or 15.14% from last week's price.

Aniline was quoted at RMB 11,800/ton this week, an increase of RMB 1,533.33/ton or 14.94% from last week's price.

DOP quoted 11,375 CNY/ton this week, up 1,325 CNY/ton or 13.18% from last week's price.

The price of lithium carbonate this week was 332,600 CNY/ton, an increase of 37,000 CNY/ton compared with last week's price, an increase of 12.52%.

The price of DOTP this week was 11,300 CNY/ton, an increase of 1,225 CNY/ton or 12.16% from last week's price.

DBP's quotation this week was 10,900 CNY/ton, an increase of 1166.67 CNY/ton compared with last week's price, an increase of 11.99%.

Ammonium nitrate was quoted at 4,420 CNY/ton, an increase of 460 CNY/ton or 11.62% from last week's price.
The price of silicone this week was 32,340 CNY/ton, an increase of 3,040 CNY/ton or 10.38% from last week's price.

The price of epichlorohydrin this week was 18233.33 CNY/ton, an increase of 1666.66 CNY/ton compared with last week's price, an increase of 10.06%.

Bromine was quoted at 57,000 CNY/ton this week, up 2,857.14 CNY/ton or 5.28% from last week's price.

The price of epoxy resin this week was 28,400 CNY/ton, an increase of 1,275 CNY/ton or 4.70% from last week's price.

The price of lithium iron phosphate this week was 114,000 CNY/ton, an increase of 4,000 CNY/ton or 3.64% from last week's price.

The price of polysilicon this week was 179,333.33 CNY/ton, an increase of 5,333.33 CNY/ton, or 3.07%, compared with last week's price.

The price of lithium hydroxide this week was 270,000 CNY/ton, an increase of 5,000 CNY/ton or 1.89% from last week's price.

According to industry insiders, the rise in the price of chemicals is caused by the straight-line rise of international crude oil at the source. While the cost is supported, anxiety is also heating up. On the other hand, domestic gasoline and diesel prices have recently increased by 345 yuan and 330 yuan per ton, respectively. Factors such as rising freight rates brought about by the shortage of LNG supply have also brought pressure to chemical companies. Seeing that the Spring Festival holiday is coming soon, the production suspension and early holiday brought about by high-pressure policies such as environmental protection and energy consumption, as well as the reduction in the operating rate brought about by the ultra-long holiday, will reduce the overall inventory of the chemical market, which means that the future may There is a phenomenon of "stock shortage" and "price increase" going hand in hand.