A good start!
After the Spring Festival, the crude oil-chemical industry chain has reached its peak!
The first shot of post-holiday “price increase”!
Multiple refineries closed! Crude oil soars to a new high in nearly 13 months!
As the cold weather extends to southern Texas, the entire state can only implement rolling blackouts to reduce electricity demand and avoid more lasting “catastrophic blackouts.” . Widespread power outages and toppled trees led to widespread shutdowns of oil production and refineries.
Motiva Enterprises, the largest refinery in North America, said it will close Port Arthur in Texas, USA due to severe cold weather Refinery.
Chevron Phillips Chemical Company reported that it will prepare to shut down equipment due to severe cold weather at its Pasadena, Texas, plant.
Enbridge said the Line 59 crude oil pipeline was closed after the power outage.
Saudi Aramco’s Motiva Enterprises LLC will also cease operations at its Port Arthur, Texas, refinery.
Marathon Petroleum Corp.’s Galveston Bay refinery south of Houston was also temporarily closed due to weather problems.
Power outages caused several Texas refineries to shut down or reduce operations, with at least 2.6 million barrels confirmed to be fully shut, according to a report late Tuesday from S&P Global Platts. , with a total refining capacity of approximately 5.9 million barrels. At the same time, the report said that cold temperatures also reduced U.S. crude oil and natural gas production.
As the extreme cold in the south led to the shutdown of millions of barrels of refining capacity, crude oil futures prices continued to rise, with crude oil exceeding $60, setting a new high since January 8 last year.
“Completely” became popular! The chemical market is rising strongly!
The chemical market also took advantage of the excitement of the Spring Festival and saw strong price increases. According to monitoring, from February 9th to February 20th, among the 64 types of chemical raw materials monitored, only 3 types of raw materials saw price reductions, 7 types of raw materials remained stable, and the prices of all other raw materials increased! Among them, DBP, octanol, n-butanol, DOP, butyl acetate, DOTP, BDO, isobutanol, butyl acrylate, phthalic anhydride and other raw materials increased by more than 20%.
The crisis hits the supply chain! Chemical raw materials hit new highs!
Polymerized MDI increased by 2,270 yuan/ton!
Tosoh Specialty Chemicals (USA) Company issued a notice to increase the price of Millionate brand MDI in North America, saying that starting from March 1, 2021, or according to the terms of the contract, Tosoh Specialty Chemicals Chemical (USA) Company will increase the price of this brand of MDI by US$0.35/kg (approximately RMB 2,270/ton).
Affected by the cold wave weather in the United States, the domestic polymeric MDI market consolidated at a high level before the holiday, and the increase is expected to be sufficient after the holiday. Domestic heavy-duty bus MDI equipment will be overhauled at the end of February, and overseas European Huntsman MDI equipment will be overhauled in March. In addition, the United States was affected by a sudden cold wave, BASF’s MDI equipment was frozen and damaged, and Covestro’s MDI equipment was reduced. There are too many reports of device failures and maintenance abroad. Europe and the United States are in the post-epidemic economic recovery period. Urban to suburban areas support the demand for polyurethane applications in construction, automobiles, home appliances, furniture and bedding industries, supporting the demand for isocyanates. Domestic raw material exports will There is a good trend, and the domestic polymer MDI market price is likely to be rising steadily.
Natural gas prices continue to skyrocket! The highest increase is 4000%!
A severe imbalance between supply and demand has pushed up prices for natural gas and electricity, the main fuel used by Texas power plants. The state’s grid operator expects electricity demand to surge to record levels this year as people increase their use of furnaces. According to data compiled by foreign media, the average spot electricity price in Texas rose by more than 2,400% on Saturday morning, reaching more than $4,200 per megawatt hour; in some areas, electricity prices have exceeded $5,000 per megawatt hour. For example, the average price of electricity supplied to the West Texas hub is $5,475.95 per megawatt hour, which is the highest since 2010.
Other states have also been affected. According to foreign media reports, gas prices in Oklahoma fell sharply over the weekend. It rose more than 4,000% in two days. It closed at $377.13 on Friday, but opened at less than $4 early last week.
The propylene and ethylene industry chains have surged wildly
On February 19, a large-scale shutdown of equipment caused the propylene and ethylene prices hit new highs, and multiple cracking units and three propane dehydrogenation units were shut down. The price of derived polymers has not yet been significantly affected. But sources expect prices for polyethylene, polypropylene and polyvinyl chloride, which are already at high levels, to fall further as unit shutdowns sharply tighten supplies that were already tight before the frost.�Rise.
The strong trend of the chemical market is expected to continue!
Affected by the continued improvement of the economy, the gradual popularization of vaccines, and the shutdown of many types of chemical plants due to cold weather in the United States, the chemical market has seen strong price increases due to the imbalance between supply and demand. It is expected to continue.
Are you ready for this wave of price increases? </p
