WTI June crude oil futures settled down $2.76, or 2.62%, at $102.41 per barrel. Brent July crude oil futures settled down $2.61, or 2.42%, at $104.97 per barrel.

International crude oil led the decline, more than 60 chemical raw materials fell

As the most upstream basic raw materials for bulk products, the movement of crude oil prices plays a crucial role in the chemical market. Recently, chemical companies have smelled a hint of uneasiness, and the prices of some chemicals have continued to fall. The price of lithium carbonate, which has been booming since the beginning of the year, has fallen by 17,400 yuan per ton, and other “lithium” products have also seen a price drop of 1,000 yuan per ton, which has caused continued concern among chemical companies.

Propylene glycol is currently quoted at 11,300 yuan/ton, down 2,833.33 yuan/ton, or 20.05%, compared with the beginning of last month.

Acetic acid is currently quoted at 4,260 yuan/ton, down 960 yuan/ton or 18.39% from the beginning of last month on a ringgit basis.

Glycine is currently quoted at RMB22,333.33/mt, down RMB4,500/mt, or 16.77%, from the beginning of last month.

Aniline is currently quoted at 10,666.67 yuan/ton, down 2,033.33 yuan/ton, or 16.01%, from the beginning of last month.

Melamine is currently quoted at RMB 10,166.67/ton, down RMB 1,766.66/ton, or 14.80%, from the beginning of last month.

DMF is currently quoted at 12,800 yuan/ton, down 1,750 yuan/ton, or 12.03%, from the beginning of last month.

Dimethyl carbonate is currently quoted at RMB 4,900/mt, down RMB 666.67/mt or 11.98% from the beginning of last month.

1,4-Butanediol is currently quoted at 24,460 yuan/mt, down 2,780 yuan/mt or 10.21% from the beginning of last month.

Calcium carbide is currently quoted at RMB 3,983.33/mt, down RMB 450/mt or 10.15% from the beginning of last month.

Acetic anhydride is currently quoted at RMB 7437.5/mt, down RMB 837.5/mt, or 10.12%, from the beginning of last month.

OX is currently quoted at RMB 8,200/mt, down RMB 800/mt or 8.89% from the beginning of last month.

TDI is currently quoted at RMB17,775/mt, down RMB1,675/mt or 8.61% from the beginning of last month.

Butadiene is currently quoted at RMB 9,816/mt, down RMB 906.5/mt, or 8.45%, from the beginning of last month.

Butanone is currently quoted at RMB13,800/mt, down RMB1,133.33/mt, or 7.59%, from the beginning of last month.

Maleic anhydride is currently quoted at 11,500 yuan/ton, down 933.33 yuan/ton, or 7.51%, from the beginning of last month.

MIBK is currently quoted at 13,066.67 yuan/ton, down 900 yuan/ton, or 6.44%, from the beginning of last month.

Acrylic acid is currently quoted at 14433.33 yuan/ton, down 866.67 yuan/ton, or 5.66%, from the beginning of last month.

Lithium carbonate is currently quoted at 464,000 yuan/ton, down 17,400 yuan/ton, or 3.61%, compared with the beginning of last month.

R134a is currently quoted at 24166.67 yuan / ton, down 833.33 yuan / ton compared with the beginning of last month, a drop of 3.33%.

Lithium iron phosphate is currently quoted at 155,000 yuan/ton, down 5,000 yuan/ton, or 3.13%, from the beginning of last month.

Lithium hydroxide is currently quoted at 470000 yuan / ton, down 8666.66 yuan / ton compared with the beginning of last month, down 1.81%.

The impact of the mystery kerong continues to work, the supply and demand downturn sings the “main battlefield”

In addition to the chemical products market offer down, as the industry leader of the leading enterprises also began to announce product price declines one after another. Wanhua Chemical announced that, starting from May, the listing price of polymeric MDI in China is RMB21,800/ton (down RMB1,000/ton compared to April price), and the listing price of pure MDI is RMB24,800/ton (down RMB1,000/ton compared to April price).

Shanghai BASF’s TDI list price for May 2022 is RMB 20,000/ton, down RMB 4,000/ton from April; TDI settlement price for April 2022 is RMB 18,000/ton, down RMB 1,500/ton from April.

Affected by the epidemic, dozens of provinces and cities in Shanghai, Guangdong, Fujian, Jiangsu, Zhejiang, Shandong and other areas have started closure and control policies, and transportation is subject to many restrictions. Regional closure and traffic control caused the chemical industry chain to stop production and some chemical producers to take the initiative to stop and overhaul, etc., making the supply of chemical raw materials in a rapid decline, coatings, chemical plants, the supply side of the trend weakened.

On the other hand, the escalating traffic control policy has further impact on logistics and transportation. The regional logistics cycle is lengthening and the downstream demand is falling. Industries such as automotive, aluminum, real estate, furniture and home appliances have pressed the pause button, leading to a sharp drop in demand for chemicals. May Day traditional stocking period downstream no large number of stocking plans, coupled with no signs of rebound in foreign trade, manufacturers of the market after the weaker mentality.

Although the “white list” of resumption of work has been released, thousands of enterprises are struggling to move forward on the road of slow resumption of work, but for the whole chemical industry chain, it is far from a normalized start-up rate. The “golden three silver four” sales season disappeared, and the upcoming mid-year period is not a hot season for many industries such as electrical appliances and furniture, which means that the demand for these industries is also weak. Under the game of market supply and demand, chemical products spot tension for the market is becoming less and less, the bottom of the high price has disappeared, the market situation or will continue to fall.