Petrochemical market prices steadily decline
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According to statistics, in July, the industry’s current production value was 436.55 billion yuan, an increase of 17.2% year-on-year; sales were 432.23 billion yuan, a year-on-year increase of 18.5%. The sales of petroleum and natural gas totaled 68 billion yuan, which was basically the same as last year. The sales volume of petroleum processing was 128.35 billion yuan, a year-on-year increase of 12.9%; the chemical industry sales was 228.3 billion yuan, a year-on-year increase of 28.2%. The sales rate of the entire industry was 99.01%, an increase of 1.11 percentage points over the same period of the previous year. The oil and gas production and sales rate was 97.68%, a year-on-year decrease of 0.77 percentage points; the oil processing production and sales rate was 101.5%, an increase of 3 percentage points year-on-year; the chemical industry production and sales rate was 98.14%, an increase of 0.87 percentage points year-on-year. The export value of the whole industry was 30.59 billion yuan, a year-on-year increase of 22.8%. The output of key products increased by more than 80%. Of the 65 products tracked, the monthly production increased by 56 species, accounting for 86.2%, and 41 species increased by more than 10%, accounting for 63.1%. Natural gas, synthetic rubber and rubber products Such as production growth faster.
In July, the domestic chemical market tended to decline steadily, and the 151 chemical products that were tracked were 39.7% and 45.7%, respectively, with prices rising and falling month-on-month. Although the export tax rebate adjustment policy has begun to take effect, but because many foreign trade orders are generally signed several months in advance, while the current international chemical market prices are still running at a high level, so the impact on exports is not too great, and domestic energy, resources, environmental protection, etc. High costs remain strong support for prices. Some products also saw strong growth due to rising raw material prices.
Caustic soda was affected by the complete cancellation of export tax rebates. The export of downstream caustic soda processing industry was restricted. Heavy rains in many regions in the south, weak downstream demand, and transportation were also blocked, resulting in continued decline in caustic soda prices. In July, caustic soda fell to 560 yuan, a decrease of 8.2% from the previous month. %. Soda ash was canceled despite the export tax rebate. However, due to the tight supply in the international market, export prices rose by 18-23 U.S. dollars, and the pattern of domestic demand in short supply also kept prices running at a high level. In July, the average price of domestic soda ash reached 1,630 yuan, up by 1.2% from the previous month. %. The strengthening price of calcium carbide continued to soar as a result of national governance efforts. It reached 2,800 yuan in July, a 4.5% increase from the previous quarter and an increase of 18.1% year-on-year. Affected by changes in international supply and demand, international sulfur supply has tightened and prices have soared. From the end of June of 160 to 170 US dollars to 180 to 200 US dollars, domestic sulphur prices have also risen, driving the price of sulfuric acid to rise. In July, the average sulfuric acid market price in China reached 550 yuan, up 3.8% from the previous month and up 10% year-on-year.
The overall trend of organic chemical raw materials is weak. As the export tax rebates for chemical products are lowered, most traders are bearish on the market and their purchasing enthusiasm is not strong, while the supply is stable and relatively fast growing, and the market is relatively weak. The prices of 71 products tracked have fallen by 62% from the previous month. Prices of benzene-based products such as toluene, xylene, benzene, and styrene rebounded, while prices of alcohols such as methanol, ethanol, isopropanol, and n-butanol declined. In July, domestic methanol prices continued to decline, and the average price was 2,500 yuan (t price, the same below), a decrease of 2.7% from the previous month. On the one hand, international methanol prices have been at a low level since the fall in the second quarter; on the other hand, with the decline in international prices, the strong export momentum in the early period began to slow down, the export volume has decreased significantly, and imports have increased, plus domestic production. Sustained rapid growth has caused excessive supply of resources, and downstream formaldehyde has been in an off-season and demand is slim.
The overall fertilizer market remained stable. The urea market exceeded supply and prices continued to decline. The average price in July was 1,770 yuan, a decrease of 1.1% from the previous month and a decrease of 3.8% from the same period of last year. Due to the large domestic sales pressure, despite the high export tariffs of 30%, the enterprises still had to expand exports, and the export volume had a substantial increase over the same period of last year. However, despite this, the domestic market is still not optimistic. Diammonium phosphate and monoammonium phosphate were subject to high international prices, a sharp increase in domestic enterprises’ exports, and an increase in production costs due to sour sulphur prices. The prices rose slightly. Prices in July were 2,585 yuan and 1,990 yuan, respectively. Rose 0.1% and 0.3%. The price of domestically produced potassium chloride was RMB 1995, a slight decrease of 0.3% from the previous month; import of potassium chloride was RMB 2,210, a month-on-month increase of 0.5%.
The natural rubber market continued to fall due to the listing of new plastics and increased supply of natural resources. Natural rubber SCR5 price was 18,400 yuan, a decrease of 1.3% from the previous month and a decrease of 25.1% year-on-year. The price of synthetic rubber rebounded and prices of styrene butadiene rubber, butadiene rubber, and nitrile rubber all increased.