Quotes are crazy! PP PE rose 300, PVC rose 400! The daily increase of raw materials is 5,000 yuan / ton!
The recent market is "crazy"! The "market whirlwind" brought about by the conflict between Russia and Ukraine is still blowing violently, blowing oil prices into the sky.
Two consecutive days of daily limit! Crude Oil Breaks $110!
Affected by the surge in international crude oil and coal, many varieties of energy and chemical products have reached the daily limit. Crude oil and PTA both closed the daily limit, thermal coal rose by 7.9%, ethylene glycol and LPG rose by more than 6%, styrene and PVC rose by more than 4%, methanol and plastic rose by more than 3%, and PP rose by 2.97%!
Perhaps even crazier is more than that. Some institutional investors commented that with reference to the previous two similar sanctions against Iran, global energy prices may be hit again, and crude oil prices may once again break through the $140 mark, aggravating global inflationary pressures.
This will also inevitably affect the domestic refined oil market. According to the review, domestic refined oil prices have shown a "four consecutive rise" trend in 2022. If this round of price adjustments is implemented, domestic refined oil prices may hit another "five-straight rise".
The upstream is "sound", and the downstream is naturally difficult to be immune. In the past two days, the raw material market has also been incited to "sunrise the river and win the fire."
The PE spot market can be said to be booming across the board, with mainstream prices rising at RMB 50-400/ton, strong support on the cost side, and petrochemical ex-factory intentions to keep prices high, and traders' offer prices have risen one after another.
The PVC market is also not far behind. The rise in futures boosted the market trading atmosphere. Influenced by expectations and the external environment, spot traders continued to increase their quotations. There were several price adjustments in the day, and merchants' quotations increased by 300 yuan/ton.
Crude oil rally pushes PP prices up
In just one day, the prices of more than 20 domestic chemicals have risen, and the prices of lithium carbonate, lithium hydroxide, and yellow phosphorus have risen by more than 1,000 yuan per ton.
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