Domestic and foreign leaders led the rise, chemical raw materials lifted "price surge"!
Release date: [2024/3/11]  Read total of [71] times

Basf announced that due to unforeseen complications affecting its polyamide production operations, it had to declare force majeure on its low-viscosity polyamide products and implement sales distribution measures in North America, effective immediately.

Basf noted that due to the variability of market conditions, sales distribution and delivery schedules are subject to change, and is actively pursuing all reasonable avenues to identify mitigation strategies to address the challenges encountered in the supply chain.

Domestic and foreign leaders led the rise, more than 40 chemicals ignited the rally

Although it is not clear what the "positive and reasonable" approach is, many people speculate that the only way is to raise prices, after all, BASF has also repeatedly raised the price of caprolactam, polyamide polymers and copolyamides in North America by $0.20 / pound, and increase the MDI price in ASEAN and South Asia by $200 / ton. A number of overseas chemical leading companies are also following suit.

Global prices for Ascend polyamide polymers, compounds and monomers increased across the board.

Lanxess has increased the price of adipic acid worldwide by ㈠50 per metric ton.

Panenergy titanium dioxide rose by $200 / ton.

Connors Middle East, Africa, Asia titanium dioxide price increase of $200 / ton.

Chemus announced a $100 / ton increase in titanium dioxide.

More than 20 domestic titanium dioxide enterprises, Yueqiao New materials, World famous technology, Henghe Yongsheng, Wanhua Chemical and other leading enterprises have also set off a wave of price increases, driving more chemical enterprises to open a prelude to price increases. It is not difficult to find that this wave of price increases covers basic chemical raw materials such as titanium dioxide, emulsion, color paste, and TDI, most of which are closely related to the coating industry chain, which also brings greater pressure to the coating industry.

Zhejiang Huafeng: The original price of TPU products increased by 1000-1500 yuan/ton.

Shandong Daen: The price of all TPU materials has been increased by 1000 to 1500 yuan/ton.

Shandong Red New materials: The price of all TPU materials is increased by 1000 yuan/ton.

Baoding Bangtai: The price of TPU products has been increased by 1000 yuan/ton.

Meirui New materials: The price of TPU products is increased by 1000 yuan/ton.

Under this influence, the chemical market set off a new round of price increases, since the Spring Festival, more than 40 kinds of chemical products have risen in price, and the ton price has risen by up to 12,000 yuan/ton, an increase of more than 13%.

Inside and outside the attack, the upstream crisis is enveloping the paint industry

Affected by geographical factors, many international shipping companies have chosen to stop or detour in the Red Sea route, which directly leads to the decline in the distribution efficiency of the international commodity supply chain, and the cost and freight of goods to and from Asia, the Middle East and Europe. Freight rates from the Middle East to Northwest Europe doubled from December last year, and spot freight rates from the Far East to Europe tripled from December last year.

In addition, the prices of crude oil, natural gas and coal in the energy sector continued to rise during the year. The coal sector has risen for five years, and the coal market has continued to rise after the Spring Festival this year. Since February, the spot price of 5,500 thermal coal around the Bohai Sea has risen from 908 yuan/ton to 939 yuan/ton on February 22, and the main contract of coking coal and coke has risen sharply on February 21 and 22, and the intra-day share price of many individual stocks has reached a record high.

International oil prices have risen for two consecutive months since 2024, and as of the close of March 7, the light crude oil futures price on the New York Mercantile Exchange rose to 80.41 dollars per barrel, and the Brent crude oil futures price in London also rose to 83.83 dollars per barrel.

This has also caused the crude oil related industry chain raw material prices rise, high-end imported raw materials face the risk of insufficient supply and price rises, which also makes the raw materials in the paint industry chain continue to rise, resin, pigments, emulsions, solvents and other major raw material industry chains have risen, bringing greater pressure to enterprises.

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