On February 27, the United States passed a new round of economic rescue plan of $1.9 trillion. The over issued US dollar has continuously pushed up the prices of bulk commodities and made the world prices soar! In particular, the prices of chemical raw materials, building materials, passive components, agricultural products and so on rose sharply. In terms of chemical raw materials, China’s chemical industry rose by 204% after Chinese new year. In February, a number of chemical products rose more than 100% year on year. Butanediol rose more than 204% year on year! and N-butanol (+ 178.05%), sulfur (+ 153.95%), isooctanol (+ 147.09%), acetic acid (+ 141.06%), bisphenol A (+ 130.35%), polymerized MDI (+ 115.53%), propylene oxide (+ 108.49%), DMF (+ 104.67%), all increased by more than 100% year on year. Adipic acid, in particular, rose by 1000 yuan in two days to an all-time high, breaking through the high point in recent three years. In addition, n-butanol reached the highest daily increase in 10 years, and butyl acrylate kept up with the highest price in 2011! Maleic anhydride reaches a new high in recent 4 years! And the rising degree of MDI may exceed the highest point in 2020!
A number of Chinese chemical enterprises have successively issued price adjustment notices, saying that they have decided to increase the price of their products due to the rising prices of raw materials and sharp increase in costs. Some enterprises even said frankly that the prices of raw materials will rise in the future, and the possibility of their product prices continuing to rise is not ruled out.
2021 belongs to the post epidemic era economy. In the case of destocking, demand surge, and rising inflation expectations, price rise supports stabilization. It is expected that the prices of chemicals will continue to rise gradually after a short correction in the future.
Jiaming He|08 March. 2021
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Post time: Mar-08-2021