This year chemicals are really high, the first 12 weeks in a row!

With the easing of the global epidemic, increasing demand, the cold wave in the United States leading to supply disruptions in major factories, and rising inflation expectations, the price of chemical raw materials has risen one wave after another.

Last week (from March 5th to March 12th), 34 of the 64 chemical raw materials monitored by GCGE increased in price, among which ethylene acetate (+12.38%), isobutanol (+9.80%), aniline (+7.41%), dimethyl ether (+6.68%), butadiene (+6.68%) and glycerol (+5.56%) increased by more than 5% per week.

In addition, vinyl acetate, isobutanol, bisphenol A, aniline, P0, hard foam polyether, propylene glycol and other raw materials increased by more than 500 yuan per week.

In addition, this week, the overall differentiation of the chemical market price is more obvious, the number of products significantly increased, the previous wild rise of raw materials trend is more volatile, chemical friends recently to pay special attention to the latest market direction.

After more than two years of downturn, the plastics market recovered in April 2020.Surging commodity prices have stoked the plastics market at the start of the year, sending it soaring to near a 10-year high.

And at this point, the giants are also “embellishing” it.

On March 8th, plastic head Toray released the latest price increase letter, saying that due to the rising price of PA raw materials and the shortage of supply, we will adjust the price of related products:
Nylon 6 (non-filled level) +4.8 yuan /kg (up to 4800 yuan/ton);

Nylon 6 (filling grade) +3.2 yuan /kg (up to 3200 yuan/ton);

Nylon 66 (non-filled grade) +13.7 yuan /kg (increased by 13700 yuan/ton);

Nylon 66 (filled grade) +9.7 yuan /kg (increased by 9700 yuan/ton).

The above RMB adjustment includes 13%VAT (EU VAT);

The price change will take effect on March 10, 2021.

I believe I believe a week increase of 6000 yuan!This ingredient is on fire!

Benefiting from favorable policies, new energy manufacturers have greatly increased their output, and the demand for related products has exploded, stimulating the rising prices of major raw materials.According to CCTV Finance, as of March 12, the average domestic market price of battery-grade lithium carbonate was 83,500 yuan per ton, up 6,000 yuan per ton in a week’s time, and the four-month spot price has doubled.

Other raw materials related to the new energy vehicle industry are also continuing to rise.Since January, the price of lithium carbonate has risen by nearly 60%, lithium hydroxide by 35% and lithium iron phosphate by nearly 20%.

This round of global chemical prices skyrocketing, the main reason is the imbalance between supply and demand.The global flood is more like a fuel booster, fueling the chemical boom.

In addition, affected by the cold snap, the giant collective shut down to extend the delivery time, some enterprises even announced the extension of delivery time as long as 84 days.Due to the particularity of chemical production, it still takes a long time to completely eliminate the impact of freezing on each equipment after recovery. Therefore, in the medium and long term, the supply of chemical products will still be in a relatively tight state.

Although many soaring chemicals in recent days, but in the long term, volatile price rise is still this year’s chemical market keynote.