Chemical industry rebound
According to statistics, since September, more than 90 kinds of chemical products have risen sharply since the beginning of July, some chemical products have risen by more than 45%, and the price of tons has risen by up to about 4900 yuan/ton. In the first half of this year, the prosperity of the chemical sector is low, and many chemical companies are under pressure from the low performance of product prices, and with the recent rebound in product prices, the operating rate of relevant companies has increased.
Zhuo Chuang Information Research Institute researcher Li Xunjun told reporters that the recent chemical market as a whole shows an upward trend of shock, mainly due to the rise in energy product prices, while supply tightening is also an important factor supporting the rise of the chemical market, the chemical market has formed a relatively stable cost support.
Recently, acetic acid has become one of the star varieties in chemical products. Since August, the market price of acetic acid has risen by more than 1,000 yuan/ton, a monthly increase of more than 30%, and the price has exceeded 4,000 yuan/ton, a new high this year.
Looking back at the previous market, since September 2021, the price of acetic acid has gone down from a high of 9,000 yuan/ton to the first half of this year, and the price of acetic acid has remained at a low level of about 3,000 yuan/ton. Affected by low prices, the performance of relevant enterprises in the first half of the year was under pressure. Jiangsu Thorp in the semi-annual report analysis, in recent years, the acetic acid industry in the domestic new production capacity has been put into production, the industry supply has increased, superimposed downstream demand is insufficient, and the price has declined significantly year-on-year. Huayi Group, vinegar shares and other companies in the first half of the same situation.
It is understood that acetic acid and derivatives are important basic chemical raw materials, widely used in synthetic fibers, printing and dyeing, solvents, pharmaceuticals, pesticides and PTA(refined terephthalic acid), acetate, vinyl acetate, acetic anhydride and other chemical products.
Li Xunjun believes that this round of acetic acid rise can be traced back to the beginning of August, the main reason is that the supply side tightening for the market support. "From mid-June to mid-July, the average start of the industry was about 70%, nearly 8 percentage points lower than the average of the past five years, and the industry continues to be in a state of destocking, so the level of social inventory is not high, which is also the source of price increases."
Zhuo Chuang data show that as of September 7, the domestic acetic acid weekly load rate rose to 83%, but because the industry inventory is low, supply is tight, so the price rise was continued.
As prices reversed, several companies responded to the impact. The relevant person in charge of Hualu Hengsheng told reporters that the price of the company's main products rose, while the price of raw coal fell, and the profit situation improved. In addition, Jiangsu Thorp recently said that the company is currently operating at about 90% and is speeding up production.
It is worth noting that recently, in addition to acetic acid, nitrile rubber, acrylonitrile, soda ash and other chemical raw materials have also increased by more than 1,000 yuan, and the price of soda ash, bisphenol A, epoxy resin, MDI (diphenylmethane diisocyanate) and other important chemical raw materials has also risen sharply.
Chemical products' rising sound '
In the first week of the "Golden nine", a variety of chemical raw material products are happy to get off to a good start.
According to monitoring data, since September, there have been about 50 kinds of raw material prices rose rapidly, more than 90 kinds of chemical products prices rose sharply from the beginning of July, some chemical products rose by more than 45%, and the price of tons rose up to about 4900 yuan/ton.
Specifically, there are several rapidly rising products. The soda ash market fell in the first half of the year, and since late August, it has advanced by leaps and bounds, breaking through the 3,000 yuan/ton mark at the end of the month, creating a high since late November 2021. The pure benzene market fell in the first half of the year, rebounded from July to August, and broke through the 7,800 yuan/ton mark at the end of August, setting a high since late October 2022. In addition, ethylene glycol butyl ether, n-butanol, octanol, DMF (dimethylformamide), acetone and other chemical products have increased by more than 30% since the second half of the year.
Li Xunjun told reporters that the recent chemical market as a whole shows an upward trend of shock, the main reason is from the rise in the price of energy products, crude oil in the case of the continuation of the production reduction strategy of major oil producers rose significantly, since August 23, a new round of rising market, the United States WTI crude oil futures rose by about 10%, the chemical market cost support significantly enhanced. In addition, the tightening of supply is also an important factor supporting the rise of the chemical market.
According to Zhuo Chuang information monitoring data show that the current average load rate of 41 products fell for three consecutive weeks, as of September 7, the data was 68%, down 0.5 percentage points from the previous week, lower than the five-year average of 3.3 percentage points, plus the early industry has been in inventory, so the supply level for some products also supported.
"Although international oil prices have continued to rise in recent days, they will still show strong resilience under the impact of tightening supply, and the bottom support for the chemical market is still relatively stable." In addition, near the Mid-Autumn Festival, National Day holiday in the case of the market or there are stocking moves, the above factors will support the chemical market in the short term to show a strong operation trend." Li Xunjun said.
At the same time, Li Xunjun pointed out that this round of chemical products rose, upstream and downstream there is a certain differentiation, the increase of products near the raw material end is relatively prominent, and the increase of downstream products near the end of consumption is relatively weak, so the cost pressure of the middle and downstream industry increased, resulting in the continuation of losses.
Chemical market
Will continue to feature a slow recovery
The reporter visited chemical enterprises in the first half of this year, the chemical industry into the cycle of the low, due to rising costs, poor demand and other effects, many chemical products price upside down phenomenon, enterprise operating rate continues to fall, many chemical fields continue to parking maintenance and production arrangements, and even the maintenance cycle of nearly 90 days.
Therefore, the current price rise of some chemical products has a certain reason from this. At the same time, chemicals such as soda ash, titanium dioxide, PVC (polyvinyl chloride) and acetic acid are in demand pull, and the market is in short supply.
Guohai Securities believes that the current chemical sector in the context of the overall capacity expansion cycle of the replenishment cycle, the main driving force from the demand side of the peak season demand is about to pick up and the expected enhancement of policy stimulus, the cost of coal crude oil and other raw materials prices bottomed out, the supply side of the profit decline led to an increase in small and medium-sized enterprises shut down, is expected to have a better performance in the third quarter of the chemical industry.
Li Xunjun believes that in the second half of the year, the macro environment has improved, overseas interest rate hikes have come to an end, and numerous economic stimulus policies have been introduced in China, and market expectations have changed. At the same time, in the case of the determination of major oil producing countries to manage production, crude oil supply will continue to be tight, and the price center has moved significantly higher than in the first half of the year, forming a relatively stable cost support for the chemical market.
Li Xunjun said that the domestic chemical market is still in a new round of expansion cycle, the future supply level will still face certain pressure, coupled with the landing of real estate policy remains to be seen, chemical product demand growth is facing certain uncertainties, so the chemical market will continue to slow recovery in the future.
About Us
Lead acetate, also known as lead acetate, is a white, crystalline compound with a sweet taste. Lead acetate can be prepared by reacting lead yellow (lead monoxide) with acetic acid. Like other lead compounds, lead acetate is highly toxic. Lead acetate is soluble in water or glycerin. Form a trihydrate with water, Pb(CH3COO)2·3H2O, which is a colorless or white flowered monoclinic crystal.
Use
The product can be used to produce all kinds of lead salt, anti-fouling paint, water quality protection agent, pigment filler, paint desiccant, fiber dyeing agent, heavy metal cyanide process solvent. It is widely used in medicine, pesticides, dyes, coatings and other industrial production. It is also a reagent for determination of chromium trioxide and molybdenum trioxide in chemical analysis. As an analytical reagent, it is also used in biological dyeing, organic synthesis and pharmaceutical industry.
Analytical reagents, used for the determination of sulfide, chromium trioxide, molybdenum trioxide, biological dyeing and organic synthesis.
Used in biological dyeing, organic synthesis and pharmaceutical industry.
