After the Spring Festival, factories around the country gradually resumed work, and news of the price increase of propylene oxide from the chemical market attracted attention. According to Baichuan Information, after the long holiday, the propylene oxide manufacturers successively raised the quotation. After the general quotation of Shandong, South China, East China and other major producing areas last week, on February 26, Wanhua Chemical, Tianjin Daxie and other manufacturers continued to raise the quotation.
Long Yao Petrochemical analyst Cheng Yao told the "Daily Economic News" reporter that the price increase of propylene oxide is related to the imbalance between supply and demand in the market. Last year, affected by environmental protection policies, the overall operating rate of the industry was only about 75%, and the reduction in phased supply was added. Market speculation has caused ethylene oxide prices to continue to rise.
The reporter learned that the downstream products of propylene oxide are mainly polyether polyols, which are the raw materials for white materials in refrigerator foaming materials. The price increase of propylene oxide also drove up the cost of white materials. On the other hand, the black material in the foaming material of refrigerators also surged in price last year. As a result, the pressure on cost control has increased for domestic refrigerator manufacturers. Propylene oxide annual price adjustment
Propylene oxide is an important basic chemical raw material, mainly used in the production of polyether polyols, propylene glycol, etc. Among them, polyether polyols are important raw materials for the production of polyurethane foams.
According to Baichuan Information, on February 26, the domestic propylene oxide main manufacturer Wanhua Chemical raised the price of 12,900 yuan / ton, Tianjin Daxie reported 12,400 yuan / ton ~ 12,500 yuan / ton.
According to the latest data provided by Longzhong Petrochemical to the "Daily Economic News" reporter, the mainstream price of propylene oxide in Shandong and South China on February 26 was 12,400 yuan / ton ~ 12,500 yuan / ton; the mainstream quotation in East China is 12,700 yuan / ton ~ 12,800 yuan / ton. Cheng Yao told reporters that the price increase of this propylene oxide started from February 22nd after the holiday, and rose by 100 yuan/ton every day on February 22nd and 23rd.
In her view, the price increase of propylene oxide is mainly due to the imbalance between market supply and demand. "The main production mode of propylene oxide is the chlorohydrin method, which is relatively polluting. In the context of stricter environmental protection policies, the start of industrial installations was also affected last year, resulting in a reduction in phased supply. In addition, propylene oxide The profit of chemical products has been very high, and some people in the market are speculating." Cheng Yao explained to reporters.
In fact, the price of propylene oxide has risen a lot in 2017. Binhua shares (601678) (601678, SH) announced that from January to December 2016, the average selling price of the company's propylene oxide products was 7710.95 yuan / ton, but the average selling price of the products increased from January to December 2017. 9080.61 yuan / ton, an increase of 17.76%.
When talking about the expectations of the market outlook, Cheng Yao believes that in the short-term, the price of propylene oxide still has room to rise in early March. Because with the start of the terminal enterprises, the demand for propylene oxide will increase, and now the inventory of manufacturers is relatively low; in the medium and long term, some mainstream propylene oxide manufacturers have stopped production and maintenance in March and April, when the market The supply will also decrease.
Refrigerator manufacturers under pressure
The reporter learned that the price increase of propylene oxide also affects the downstream industry. The foaming materials in refrigerators and freezers are classified into black materials and white materials, white materials refer to polyethers, and black materials are commonly known as polymeric MDIs. The foaming material is mainly filled between the inner liner of the refrigerator and the outer layer, and is used for heat insulation of the refrigerator. Propylene oxide is a raw material for the production of white materials, and its price increase has also been transmitted to refrigerator manufacturers.
In the 2017 performance forecast released by Meiling Electric, the company expects its net profit for 2017 to fall by 77.30%~97.73% year-on-year, which is mainly due to the substantial increase in the prices of bulk commodities such as steel, isocyanate and combined polyether. Raw materials rose by more than 60% last year, which puts tremendous pressure on the company's product cost control."
Zhu Wenjie, a securities affairs representative at Meiling Electric, told reporters that isocyanate and combined polyether refer to black and white materials.
During the interview, the reporter found that compared with the price increase of white materials, the price increase of black materials last year made the refrigerator industry once "talk about black change". In August and September 2017, Wanhua Chemical announced the price adjustment announcement for the aggregated MDI (black material) for two consecutive months, and raised the listing price of its distribution market.
Yao Youjun, deputy general manager of Oma Electric Refrigerator Division, told the Daily Economic News reporter earlier this year that the price of foaming materials in refrigerators was very obvious last year. At the beginning of 2016, the price of foamed materials was about 10,000 yuan / ton, but throughout 2017, when the price rose to the highest peak, the price of foamed materials once reached 40,000 yuan / ton, up nearly three times. According to him, a refrigerator needs about 4 to 5 kg of foaming material.
The reporter learned that due to the price increase of black and white materials and other bulk raw materials, manufacturers including Meiling and Omar have raised prices for their refrigerator products last year.
According to the monitoring data of Aowei Cloud (AVC), the industry price increase of refrigerator products in the offline market in 2017 is about 15%, and the online price is increasing by about 10%. The overall price of the refrigerator industry has increased by 4% to 5%.
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