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Strong rise in oil prices International crude oil and refined oil prices continue to rise, but the momentum has slowed. The average spot price of US crude oil for the US West Texas Intermediate Crude Oil (WTI) was US$93.13 per barrel, a year-on-year increase of 58.86%, and a slight decrease of US$1.37/barrel. North Sea Brent light crude oil reached 93.14 US dollars / barrel, basically the same as last month, up 63.24%.
In addition, the spot price of Daqing crude oil in China was US$92.08/barrel, up 63.15% year-on-year, and US$0.7 per barrel lower than the previous month. The Shengli Oilfield was US$77.45/barrel, up 62.06% year-on-year and down by US$0.84 per barrel from the previous month.
Fertilizer prices rise sharply In response to rising production costs and growth in demand for spring plowing, domestic fertilizer prices continue to rise sharply. The prices of the 13 chemical fertilizers tracked by them have increased by an average of 34% year-on-year, with an increase of 11.3 percentage points year-on-year and an average price increase of 6.6% from the previous quarter, indicating an acceleration of the upward trend. Among them, monoammonium phosphate prices rose the most, up 78.9% year-on-year, reaching 3,500 yuan (ton price, the same below), a record high, up 7.7%; DAP prices reached 3,150 yuan, up 23.5% year-on-year, a month-on-month increase of 7.5 %, the price is also the highest in history; general calcium price is 600 yuan, up 16.5% year-on-year, up 5.3%. The price of urea was 1920 yuan, a year-on-year increase of 7.6%, which was a 3.2% increase from the previous month; ammonium nitrate was up 50.3% year-on-year to 2,420 yuan, up 3.4% from the previous month; ammonium sulfate price was 1,010 yuan, an increase of 48.5% year-on-year and a 13.5% increase from the previous month; The price of potassium chloride was 2,370 yuan, up 20% year-on-year and up 3.9% month-on-month; the price of 45% chlorine-based compound fertilizer was 2,750 yuan, up 51.1% year-on-year and up 10.9% month-on-month. At present, the increase in fertilizer prices is too large and it may have an adverse effect on the spring plowing.
The general upward trend in the prices of chemical products was still strong for the prices of basic inorganic chemical products, and prices of organic products fell across the board.
Market monitoring showed that in February, the price of sulfuric acid continued to rise at a high level, which was 905 yuan, up 126.3% year-on-year, but decreased by 3.7% from the previous month, and the gains were hindered; sulfur prices were still up, reaching 4240 yuan, up 220% year-on-year, and up 32.5 times month-on-month. %;Soda ash price was 1,950 yuan, up 20.3% year-on-year, 4.3% month-on-month, and a record high; caustic soda prices reached 2,945 yuan, up 18.8% year-on-year, a slight drop of 0.5% from the previous quarter; calcium carbide prices broke the historical record, reaching 3,150 yuan , up 26% year-on-year, up 1.0% qoq; yellow phosphorus price was 17,080 yuan, up 4.1% year-on-year, and up 3.2% qoq.
The price of propylene was 13,090 yuan, a year-on-year increase of 20.9%, a slight decrease of 0.1% from the previous month; the price of pure benzene was 8,990 yuan, a year-on-year decrease of 7.1%, and the price was 2.6%, and the price continued to decline; the price of methanol was 3,370 yuan, a year-on-year decrease of 0.9% and a month-on-month decrease of 0.3%. %; The price of ethylene glycol was 11,160 yuan, up 29% year-on-year, down 12.7% from the previous month, and the rate of decline was 6.1 percentage points higher. The price of refined terephthalic acid continued to slump, but it turned to be 7450 yuan, down by 19% year-on-year. 3.8%.
Increased market pressure and resistance At present, the pressure and resistance in the chemical market are increasing. On the one hand, rigid increases in the prices of energy and raw materials have created pressure on the rise in prices of chemical products. At present, the international crude oil price has already exceeded US$100 per barrel. The domestic raw materials for coal, electricity, gas, and environmental protection, and the price of labor have been accelerating. This has led to an increase in the production cost of enterprises, a shrinking profit margin for chemical products, and an increase in price pressure. On the other hand, after the increase in chemical production costs, the resistance to downstream conduction has also increased. According to the statistics of January industrial products released by the National Bureau of Statistics, the ex-factory price of industrial products rose by 6.1% year-on-year, and the purchase price of raw materials, fuel, and power rose by 8.9%. Among the purchase prices of raw materials, fuels, and power, chemical raw materials saw the smallest increase of 3.8%.
In addition, it is worth noting that the current inorganic chemical products, such as sulfur, sulfuric acid, calcium carbide, yellow phosphorus and other products, the downstream users are basically in the chemical industry; and related to the textile, light industry and other organic chemical products, such as B Glycol, PTA, methanol, pure benzene, etc., prices have shown a downward trend. The above situation shows that the digestion capacity of the downstream companies is limited, and the chemical industry is facing a severe situation in which cost pressures are increasing sharply and the cost of downward transfer is huge.
To this end, companies should turn their attention to internal issues, through structural adjustment, technological advancement, and management innovation, and strive to reduce raw materials, power consumption, reduce production costs, and increase their own competitiveness.
Increased amount of devaluation shows significant macro-control effect
- Analysis of the economic operation of the oil and chemical industry in February According to the analysis report released last week by the China Petroleum and Chemical Industry Association, the overall demand for oil and chemical markets in February was robust, and production and sales were well connected with a production and sales rate of 97.3%. Although the growth rate of production has declined somewhat, it has shown a trend of “decrease in value by volumeâ€, indicating that the effect of the national macro-control policies has become more apparent. Among them, the price growth of major basic inorganic chemical raw materials remained strong, the prices of organic chemical products generally declined, and the increase in fertilizer prices accelerated. Of the 174 chemical products that were tracked, there were 118 types of 67% increase in price year-on-year, accounting for 67.82%; there were 3 types, which accounted for 1.72% of the year-on-year prices, and 53 types, which accounted for 30.46%, of the year-on-year prices.