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The regional situation is volatile, resulting in a surge in chemical raw materials!

Author: admin

Release time: 2019-10-15

Number of visits: 458

In the early morning of September 14, Saudi Aramco's "world's largest oil processing facility" and an oil field were attacked by unmanned aerial vehicles, resulting in a fire at a "processing facility critical to global energy supply". Saudi officials said at the time that the attack reduced Saudi crude oil supply by 5.7 million barrels per day, accounting for about 50% of Saudi oil production.
On October 11, an oil tanker of the Iranian National Oil Company exploded and caught fire near the Saudi port city of Jeddah, causing serious damage to the ship. After the explosion, the oil leaked into the Red Sea. Technical experts believed that this was a terrorist attack. The official website of Iran's Ministry of Oil reported that the explosion of the oil tanker may be caused by missiles.
With the successive attacks by Saudi Arabia and Iran, the tension in the Middle East continues to rise, especially the relationship between Iran and Saudi Arabia. This undoubtedly has a huge impact on the international oil market, not only endangering the global oil supply, but also triggering the rise of the international crude oil price.
At 13:30 Beijing time on October 11, US WTI crude oil and Brent crude oil rose by more than 1%. WTI crude oil stood at $54/barrel, and Brent hit the $60/barrel mark, breaking the new high since October 1.
As a downstream industry of oil, the price of some chemical raw materials has also been greatly affected. After the Iranian oil tanker accident, the price of some products began to rise.
List of price increase of chemical raw materials (unit: yuan/ton) Data source: paint purchasing website, for reference only.

From the above table data, we can see that the prices of 33 kinds of raw materials have risen recently, accounting for 42% of the statistics. Among them, epichlorohydrin rose the most, with a price increase of 25.64%, which was very active in 2019. Nitric acid and ammonium nitrate followed closely, up 20.69% and 15.97% respectively.
In addition to BASF and Wanhua Chemical, many enterprises and regions have raised the price of chemical raw materials. According to insiders, the recent turmoil of the international political situation has a great impact on the domestic market, and the price rise of raw materials of some chemical enterprises will also lead to the price rise of other raw materials
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