According to the news on October 7, international chemical giants Shin-Etsu, Henkel, Tokuyama, Cabot and others issued a statement announcing the increase in prices of various chemical products from October 1.
Shin-Etsu announced that it will raise the price of vinyl chloride resin (PVC) products by 12 yen per kilogram from October 1. BASF announced on October 1 that due to strong demand, market tension and rising costs, Asia Pacific will Increase the price of all PA66 products as permitted by the contract. PA66 enhanced grades increase by $500 per ton, equivalent to RMB 3,432; PA66 non-reinforced grade products increase by $700 per ton, equivalent to RMB 4,810. Meanwhile, international adhesive giant Henkel It also announced that it will increase the price of adhesive products from October 1st. This is the increase since 2009 when Henkel adjusted the supply price of civilian and artisan construction adhesive products (average increase rate is around 16%). Price. Global carbon black giant Cabot recently announced that it will raise its price of PLASMAK series masterbatch and CABELEC® conductive compounds and concentrates up to 7% globally. In addition, DuPont, 3M, Japan Deshan Chemical also recently announced the price increase of some of its products.
Insiders analyzed that the second round of US sanctions against Iran is approaching, and the supply of crude oil is worried. At the same time, the trade agreement between the United States and Canada has also greatly improved the market risk sentiment and supported the risk assets such as crude oil. On October 3, British Brent crude oil futures once rose to about 87 US dollars / barrel, while the US WTI crude oil futures also rose to near 77 US dollars / barrel. Aroused by this news, many chemical giants have increased the price of their products.
'The rise in international oil prices is the reason for the price increase of chemical companies. The cost of most chemical products is mainly based on crude oil. At the same time, the tight supply in the market has intensified the rise in raw material prices. ' Domestic oil central enterprises believe that with oil prices And the price of chemical products has risen, or it has driven global prices to rise. While the Chinese market is superimposed on factors such as the Sino-US trade war, the driving force for price increases may be stronger.