Exceeded $110/barrel! The Collective Surge of Chemical Raw Materials!

Affected by various factors such as the tense situation in Russia and Ukraine, oil prices further rose sharply. Yesterday (2nd), the May futures of Brent crude oil opened above 107 US dollars, and the intraday high price reached 110.54 US dollars / barrel, which continued to hit a new high since 2014, and rose nearly 3% on the day; WTI crude oil stood at 108 US dollars / barrel, It rose more than 5% on the day, the first time since 2013.

Affected by this, the main domestic crude oil futures contract jumped sharply, hitting the daily limit in the morning, with an increase of 7.99%. A-share oil stocks rose collectively. Tongyuan Oil's daily limit, Renzhi shares, Behnken Energy, and Zhunyou shares hit the daily limit during the session, and many other stocks rose by more than 5%, and the "two barrels of oil" also rose to varying degrees.

The domestic energy and chemical futures sector also rose sharply. Shanghai crude oil led the rise by 7.87%, low-sulfur fuel oil rose by 7.12%, asphalt rose by 6.42%, fuel oil and LPG rose by more than 5%, ethylene glycol, PTA, and soda ash rose by more than 4%. %, staple fiber, plastic, PVC, styrene, methanol, and styrene rose by more than 3%, and PP rose by 2.9%.

While the chemical futures have been rising, the spot market has also caused ripples. The chemical products that have been rising for a period of time have risen like a tiger, and there is even a magnificent scene of a ton price rising by a thousand yuan a day, for fear of not keeping up with this. The wave of rising prices.

Lithium carbonate: The quotation is 470,000 CNY/ton, and the daily increase is 5,000 CNY/ton.

Lithium hydroxide: The quotation is 423,333 CNY/ton, a daily increase of 3,333.33 CNY/ton.

Yellow phosphorus: The quotation is 39333.33 CNY/ton, a daily increase of 1666.66 CNY/ton.

PA6: The price of Shijiazhuang Zhuangyuan is 18,100 CNY/ton, and the daily increase is 700 CNY/ton.

DMF: The quotation is 16,550 CNY/ton, a daily increase of 550 CNY/ton.

1,4-Butanediol: The quotation is 28,060 CNY/ton, up 460 CNY/ton daily.

Silicone DMC: The quotation is 36,820 CNY/ton, up 420 CNY/ton daily.

Wanhua Chemical's n-butanol: The quotation in North China is 10,500 CNY/ton, and the daily increase is 400 CNY/ton.

Wanhua Chemical MTBE: The quotation is 7,500 CNY/ton, and the daily increase is 250 CNY/ton.

PX: The quotation is 8200 CNY/ton, and the daily increase is 200 CNY/ton.

Paraxylene: The quotation is 8,200 CNY/ton, and the daily increase is 200 CNY/ton.

Butyl acetate: The quotation is 10,400 CNY/ton, and the daily increase is 200 CNY/ton.

Lihuayi isooctanol: The quotation is 12,400 CNY/ton, and the daily increase is 200 CNY/ton.

Phosphoric acid: The quotation is 10,200 CNY/ton, with a daily increase of 160 CNY/ton.

Sulphur: The quotation is 2400 CNY/ton, up 146.67 CNY/ton daily. The quotation in East China rose by 200 CNY/ton, and the quotation in Shandong area rose by 2350 CNY/ton.

Propane: The quotation is 6595.75 CNY/ton, a daily increase of 142.5 CNY/ton.

n-Butanol: The quotation is 10466.67 CNY/ton. The daily increase was 133.34 CNY/ton.

Polycarboxylate superplasticizer monomer: the quotation is 9700 CNY/ton, and the daily increase is 100 CNY/ton.

Epichlorohydrin: The quotation is 18,800 CNY/ton, and the daily increase is 100 CNY/ton.

Propylene: The quotation is 8450 CNY/ton, and the daily increase is 50 CNY/ton.

In just one day, the prices of more than 20 domestic chemicals have risen, and the ton prices of lithium carbonate, lithium hydroxide, yellow phosphorus, etc. have risen by more than 1,000 yuan, and the ton prices of DMF, butanediol, silicone and other chemicals have risen by more than One hundred yuan is not surprising. The increase in the price of chemical products in these oil industry chains and other derivative industry chains is closely related to multiple factors such as the shortage of oil inventories, skyrocketing natural gas and the epidemic.

WTI crude oil and Brent crude oil both broke through the $100/barrel mark and are still rising. Goldman Sachs raised the price of Brent crude oil to $115/barrel. Morgan Stanley even predicted that the price of Brent crude oil could even jump. to $125/barrel.

In addition, rising crude oil also pushed up domestic refined oil prices. A new round of domestic refined oil price adjustment window will be opened on March 3. Under such a tense situation, the bullish expectation of refined oil is relatively large. Up to now, domestic refined oil has risen for four consecutive times, gasoline has risen by 1,005 CNY/ton, and diesel has risen by 965 CNY/ton. If the price of this round increases, No. 92 gasoline in parts of Southwest and South China is expected to enter the "8 yuan era". 

In addition, oil as a primary energy has fallen into a state of low inventory that has been difficult to see for many years, which has also ignited the anxiety of many chemical companies, and has virtually increased the supply and price of secondary energy such as electricity. The domestic chemical market will continue to be bring impact. The so-called one-shot moves the whole body, the production cost of the enterprise increases, and the operating pressure gradually increases, and the oil that seems to be out of reach at the source end may eventually become the last straw that overwhelms the "camel".