Rising rapidly, crude oil started its 4th consecutive rise!
Recently, under the influence of OPEC’s unexpected production cuts, international crude oil prices have continued to rise. I believe everyone has noticed it, because at 24:00 on April 17, the country ushered in a new round of oil price adjustments. Domestic gasoline and diesel prices The prices (standard products, the same below) will increase by 550 yuan and 525 yuan per ton respectively.
Production cuts have boosted crude oil prices. Since the news that OPEC and its allies planned to cut more than 1 million barrels per day, international crude oil has risen rapidly due to the tightening of the global market. It has now risen for four consecutive weeks, and international crude oil has both exceeded the US$80 mark. !
Brent crude oil
WTI crude oil
Source: Sina Finance
In addition to tight supply stimulating rising oil prices, the International Energy Agency (IEA) previously stated that as China’s consumption rebounds, oil demand is expected to grow to a record high this year.
The rise in crude oil not only stimulates the rise in oil prices, but also increases in many commodities. The international crude oil market is operating strongly, and cost support is further consolidated. The domestic chemical market will also continue to rise. Coupled with the introduction of national economic promotion and other policies, the downstream chemical commodity market Welcome the good news!
A sudden increase of 1,500 yuan/ton! The giants issued price increase letters in succession, and 37 kinds of raw materials started to increase!
The “Silver Four” has passed halfway, are you business owners doing well?
It is said that if crude oil rises, everything will rise. According to monitoring data, the commodity market has recovered significantly in April compared with March. From the end of March to the 17th, 37 of the 67 products monitored by Guanghuajun Raw material prices increased, with MMA, polyvinyl alcohol (1799), and TDI rising by more than 1,000 yuan/ton.
April bulk price increase list
Source: Guangzhou Chemical Trading Center
▶▶Methanol: Stops falling and rebounds!
International crude oil is operating strongly, market sentiment is improving, and some manufacturers have shut down for maintenance. In addition, some manufacturers have delayed resumption of work, and supply has tightened slightly. Therefore, these are all conducive to the rebound of the methanol market. In addition, before May Day, downstream stocking needs started, manufacturers shipped smoothly, and inventory pressure was not great. Moreover, due to quality problems with foreign ship cargoes, there were not many available spot resources in coastal areas, and the bullish mentality in the market increased, which further boosted the market. trend.
Source: Business Society
▶▶TDI: Soaring by 1,500 yuan/ton!
TDI prices have risen rapidly in the past month. Data from Business News shows that since the end of March, TDI prices have risen by more than 1,500 yuan/ton.
Source: Business Society
▶▶Caustic soda: continues to rise!
The domestic liquid alkali market continues to rise. During the week, downstream procurement prices in major regions resumed their upward trend. In addition, supply continued to shrink due to load reductions and planned maintenance by chlor-alkali manufacturers, thus boosting the market trend. According to data from Business News, the price of 32% liquid alkali in Shandong has increased by nearly 13% since late March. However, the slow recovery of demand in the downstream market has dragged down the market growth.
Source: Business Society
▶▶Acrylic: Prices have increased in many places!
The ex-factory price of propylene of Liaoyang Petrochemical was raised by 130 yuan/ton over the weekend, and then raised again by 50 yuan/ton to 6,900 yuan/ton.
Jinxi Petrochemical’s propylene ex-factory price was raised by 100 yuan/ton over the weekend, and then raised again by 50 yuan/ton to 7,000 yuan/ton.
The ex-factory price of Jingbo Petrochemical’s polymer grade propylene was raised by 50 yuan/ton to 7,550 yuan/ton.
The production of the propylene unit of Jiangsu Xinhai Petrochemical Co., Ltd. is stable, and the propylene quotation has been raised by 50 yuan/ton to 7,150 yuan/ton.
At the same time, some giants sent two price increase letters one after another!
On April 13, Japan’s Asahi Kasei announced that the company’s PA66 price would increase by 30 yen/kg (approximately RMB 1,550/ton) starting from April 15.
On the same day, it was announced that the price of adipic acid, the upstream raw material of PA66, has begun to increase since April 15, with an increase of 20 yen/kg (approximately 1,033 yuan/ton).
Optimistic about the market outlook, but downside risks still exist
At present, the rise in crude oil is good for the chemical market and stimulates the rise in prices of various raw materials. The supply of crude oil is tight and it is expected that crude oil will still have room to rise in the short term. However, industry insiders also pointed out that future international oil price trends will be affected by many factors, including market demand, production fluctuations, and geopolitical risks.
Since the conflict between Russia and Ukraine, international oil prices have fluctuated sharply. Geopolitics in 2023 may remain complicated and will continue to affect oil price trends in the future. Bosses need to be alert to downside risks and trade cautiously.
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