A New Round of Collective Price Increases For Chemical Giants Has Begun!

Recently, the international titanium dioxide giant Tenor issued an announcement saying that due to force majeure factors, the production of titanium dioxide is temporarily suspended, and the production time is expected to be about two weeks. Prior to this, many foreign titanium dioxide enterprises represented by Tenor had issued a price increase letter, announcing that the product price would be increased from April 1. The arrival of this force majeure notice undoubtedly caught everyone off guard, and before they started to stock up, they ushered in "out of stock".

Force majeure occurs frequently, and the chemical market is "out of stock"

In addition to the titanium dioxide leader Tenor, more than a dozen chemical companies have also recently stated that they have encountered force majeure or accident problems, and the supply of goods is in short supply, and some even said that they will be interrupted for several weeks.

Trinseo Switzerland suspends the quotation of some PC, PS, ABS, SAN products for one week.

A fire broke out at the Butadiene Rubber Plant (LUSR) of Lotte Ube Synthetic Rubber Company;
Five employees were injured in a violent explosion at the Marathon Oil Company plant, one of the largest oil refineries in North America.
An explosion at the factory of India's largest PTA manufacturer (MCCI, a subsidiary of Mitsubishi Chemical Indonesia) caused some chemical substances to spill out and 6 people were injured in the accident;
Line 1 of South Korea's YNCC cracking plant was struck by lightning and stopped;
Vietnam's NSRP shut down the plant's 370,000-ton/year PP unit due to a fire caused by a steam turbine generator failure;
ICCChemical encounters force majeure that will affect all Doverphos® series products, including all liquid organic phosphites, triphenyl phosphite (TPP), liquid green phosphite (LGP), trinonylphenyl phosphite (TNPP) and all solid phosphites, including S-9228, etc.;
Covestro announced that due to unforeseen emergencies in Leverkusen's hydrochloric acid logistics, the supply of HDI and IPDI encountered force majeure;
Total Energy has declared force majeure at its Polypropylene Copolymer (PP-C) plant in Gonfreville, Paris, France, and the supply of the product may be disrupted for several weeks.

More than a dozen overseas leading companies have made frequent moves to start a new round of price increases

The force majeure of these large energy, petroleum and chemical plants has undoubtedly had a great impact on the market supply, and invisibly increased the anxiety of the majority of chemical workers. The imbalance between supply and demand has made matters worse, and leading chemical companies, mainly foreign-funded enterprises, have started a new round of price increases.

Toyo Styrene Co., Ltd.: From April 1st, the price of PS resin and flame-retardant reinforced PS products has been raised, with a maximum increase of more than 15 yen/kg (about 821 CNY/ton).
BASF: From April 1st, the prices of polyoxymethylene resins (POM) and composite resins in the Asia-Pacific region will be increased by US$350/ton (approximately RMB 2,500/ton including tax).
Japan DIC Co., Ltd.: From April 1st, the increase of polystyrene (PS) products and styrene series products. The products that have been raised include styrene, GPPS, HIPS and elastic ethylene, rising above 17 yen/KG.
Japan PS Co., Ltd.: All polystyrene (PS) prices will be raised from April 1, above 12 yen/KG.
Toyo PS Co., Ltd.: The price of polystyrene (PS) will be increased from April 1. The increased products include GPPS, HIPS and special grade PS and flame retardant grade PS, all rising by more than 15 yen/KG.
Dow: The prices of polyolefin elastomers and other products in the Asia-Pacific region have been raised by $300/ton, or about RMB 1,896/ton.
SKGC Company: A comprehensive price increase for PRIMACOR™ series EAA products, a direct increase of US$250/ton (about 1,577 CNY/ton).
DSM Engineering Plastics: Greater China further increased the price of Xytron™ (PPS) by RMB 7,400/ton (excluding tax).
Mitsubishi Chemical: Increase the transaction price of polyvinyl alcohol (PVA) products in Japan and exports. Specifically: the PVA products of the Gosenol, Gosenex and NichigoGPolymer series, as well as the prices of some products, will increase by up to $700/ton, or about 4,425 CNY/ton.
Trinseo: The European subsidiary will increase the prices of all polystyrene (PS), polycarbonate (PC), ABS and SAN grades, up to RMB 1,116/ton. The European subsidiary increased the price of MMA monomer by up to 550 euros / ton (about 3835 CNY/ton).