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Crude oil peaks after Spring Festival! The prices of dozens of chemical raw materials, such as bisphenol A, n-butanol, neopentylene glycol and isobutyraldehyde, soared by up to 1,000 yuan per ton, or even more than 50%, marking A "good start" for the resumption of production in 2021. Raw materials from petrochemical products, including polyethylene film, non-woven cloth, acrylic acid, polypropylene, synthetic rubber and other more than 10 kinds, ushered in a new round of "rising tide"!Multiple refineries shut down! Crude oil surged to a new 13-month high.According to an S&P Global Platts report late on Tuesday, the outage caused several Texas refineries to shut down or reduce operations, with at least 2.6 million barrels confirmed to be completely shut down, for a total of about 5.9 million barrels of refining capacity. The report also says cold temperatures have reduced U.S. oil and natural gas production.Crude oil futures continued to climb as extreme cold in the south shut down millions of barrels of refining capacity, pushing crude above $60, the highest level since Jan. 8 last year.Oil prices have surged to their highest level in about 13 months. By the end of the day, WTI light crude for March delivery was up 1.09 percent at $60.12 a barrel. Brent crude for April delivery rose 1.41 percent to $63.31 a barrel. It is understood that after the ups and downs of 2020, the international crude oil market began to stabilize and pick up from this year, if calculated from earlier last November, WTI and Brent crude oil futures prices increased by more than 60%.Wall Street analysts are more optimistic that oil prices could reach $70 a barrel by the end of the year as "faster than expected inventory depletion" in the oil market suggests that last year's stockpiles may soon be depleted.
Crisis hits supply chain! Chemical raw materials frequency new high
Gas prices continue to skyrocket! Up to 4000%!
The huge imbalance between supply and demand has pushed up prices for natural gas, the main fuel used by Texas power plants, and for electricity. The state's grid operator expects electricity demand to surge to record levels this year as people turn up their heaters. According to data compiled by foreign media, the average spot electricity price in Texas on Saturday morning jumped more than 2,400 percent to more than $4,200 per megawatt hour. Prices have exceeded $5,000 per megawatt hour in some areas, with the West Texas hub averaging $5,475.95 per megawatt hour, the highest since 2010.
Other states have also been hit, with gas prices in Oklahoma rising more than 4,000% over the weekend, according to foreign media reports. It closed Friday at $377.13, but opened last week at less than $4.
Propylene, ethylene industry chain crazy pull up
On Feb. 19, widespread plant shutdowns drove prices of propylene and ethylene to record highs, with multiple cracker units and three propane dehydrogenation units shut down. Derivative polymer prices have not been significantly affected. But sources expect polyethylene, polypropylene and polyvinyl chloride prices, which are already high, to rise further as plant shutdowns result in a sharp tightening of supplies already tight before the frost.
"Rising sound" difficult to stop, there is still a possibility of exploration
Affected by the price of upstream raw materials, at present, SAP, non-woven fabric, hot melt adhesive, breathable film, spandex silk and other raw materials have a certain range of price rises!From today, the product is no longer priced, orders and inquiries; Since February 25th, all products are increased by 1000 yuan/ton...
In the letters of many enterprises announcing the price rise, it is also clear that the main reason for the price rise is the shortage of upstream raw materials or continuous price increases. In order to continue to provide products and services, enterprises have no choice but to raise prices.
A number of research institutions believe that the rise in crude oil prices has become the main reason to support the rise in chemical prices, and the two show a positive correlation trend. Brent crude futures are up 19.7% this year, according to the data. New York light crude futures are up 20% this year. In 2020, the prices of most chemical products in China will drop to a historical low, and the industrial utilization rate will be low, which will lead to passive destocking. From the current domestic market, the terminal demand recovery, the downstream inventory cycle. However, overseas epidemics have repeatedly led to the suspension of some overseas chemical plants, and the demand for overseas orders of domestic chemical products has been further increased. The outbreak of downstream orders has boosted the demand for chemical raw materials, and the prices of many chemical products have increased significantly.
Downstream procurement is basically at a standstill during the Spring Festival holiday. It is expected that after the Spring Festival holiday, the demand for the increase in the market opening rate will be relatively concentrated, and the price is still possible to explore. In addition, some of the recent domestic equipment maintenance, spot supply slightly tight. Industry insiders said that benefited from the recovery of the domestic economy and export market, the chemical industry boom is in a better period in history. The continued scarcity of raw materials means that the rise in the price of chemicals is not going to stop any time soon, and prices may rise even more sharply after the end of the year.
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