The international oil price breaks through $40 and the cost of chemical raw materials rises continuously

2020-06-05

In June, the international crude oil market rebounded unabated. The Brent crude oil main contract stood at $40 again in the intraday. This round of rebound exceeded 70%. The US WTI crude oil has more than doubled since the April low point, which is the strongest rebound in history!
According to foreign media reports, this round of oil price increase is mainly supported by the signs of recovery in demand, the decline in US inventories and the expectation that OPEC will continue to reduce production, which is the first time since March.
According to the latest news, OPEC+member countries are close to reaching an agreement to advance the date of the next conference from June 9-10 to June 4. Some analysts pointed out that Saudi Arabia and Russia have actually reached a preliminary agreement to extend the current record production reduction agreement by one month, but the extension time of one month is also shorter than previously expected. Many market participants previously believed that the current scale of production reduction is likely to be further extended to September.
On the one hand, it benefits from the reduction of production of "OPEC+" and other oil-producing countries; On the other hand, the demand of some economies, including China, has rebounded significantly. In addition, the trend of oil prices affects the nerves of the entire financial market. Recently, the bulk commodity market has become stronger as a whole, and the share prices of cyclical companies represented by the petrochemical sector also show signs of recovery. In addition, there is a very important point. If the international oil price continues to rise, the domestic product oil price may also rise!
Recently, a variety of chemicals have been rising, and even more so that they are outrageous and suffocating! For example, two days ago, there was a sensational article: "Out of stock to be auctioned! Northeast ethylene oxide auctioned at a high price of 8700! Crazy! Crazy!"
Because this year is a big year for the overhaul of phenol ketone and bisphenol A devices, since May, the manufacturers have been continuously overhauling, which directly drives the price of the entire industrial chain to rise, and the market of acetone has exceeded 10000 yuan/ton in only three trading days in June!!! At this time, I can't help saying "OMG!"
Take epichlorohydrin again. It is also because of maintenance. At present, the overall operating rate of the industry is about 51%, and the price of some manufacturers has been reported to 11000 yuan/ton!
There is more ruthless! DMC price has increased by nearly 1000 yuan! Tangshan Sanyou stopped the car and closed the car without reporting; Shandong Jinling rose to 16500 yuan/ton! Shandong Dongyue planned to stop for maintenance for ten days on June 5; Inner Mongolia Hengyecheng is in the process of parking and maintenance; This led to the price increase of raw rubber and mixed rubber. The mainstream price of raw rubber was 17000-17500 yuan/ton, with an increase of 500-800 yuan/ton.

Wuhan Nengmeike Industrial Co., Ltd. is specialized in the production and supply of cinnamic acid, cinnamaldehyde and other chemical raw materials. As a local enterprise in Wuhan, the company makes every effort to reduce the impact of epidemic situation and raw material price fluctuation on production and operation, and tries its best to ensure the supply of cinnamic acid, cinnamaldehyde and other products. Get the latest price information, welcome to call!
reference material:
China Chemical News - OPEC's production reduction and demand recovery: oil price exceeds $40: Sinopec News

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