Chemical industry leaders raise prices one after another

Mar 17, 2021

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1. DSM rose global Dyneema and trosar ™ price 

On February 15, Royal DSM announced that its Dyneema and trosar ™ On average, the global price of HMWPE products increased by 15%. This price increase is applicable to multiple markets and applications and will take effect from March 1, 2021 or as soon as the contract terms permit.

DSM adopted this measure to cope with extreme fluctuations in raw materials, energy, global transportation and logistics costs, which cannot be completely offset by measures to increase productivity and reduce costs.

2. BASF increases the price of European ecovio

On February 16, BASF announced that it would increase the price of its certified biodegradable compound ecovio, In Europe from now on or if the contract allows. 

3. Asahi rising nylon 66 [Leona] ™ ]The price 

Asahi chemical said on February 8 that due to the current market situation, in order to ensure the stability of subsequent supply, it will increase the price of nylon 66 resin Leona ™ At the same time, the price of each ton increased by 4000 yuan.

4. Changchun chemical and BASF both raised the price of PBT

On February 9, Changchun chemical issued the price increase letter of PBT, and the price of PBT pure resin increased by 3000 yuan / ton. Changchun chemical said the reason for the rise was the price of upstream key raw material BDO continued to rise.

Recently, BASF issued a price increase letter. Due to the rapid growth of raw materials and logistics costs, it will increase the prices of the following products in the Asia Pacific region:

PBT enhanced level rose 250 US dollars per ton, equivalent to 1614 yuan / ton;

PBT non enhanced grade rose 300 US dollars per ton, equivalent to 1937 yuan / ton;

PA66 non reinforcing agent increased by US $400 per ton, equivalent to RMB 2583 per ton; (excluding China)

02

Since the 18th, prices of more than a dozen materials such as bisphenol A, styrene and ABS have been raised

1. Bisphenol A Rose 6500 yuan / ton, or 50.78%

On the 19th, the market of bisphenol A was hot. The offer of East China market was 20000 yuan / ton, and that of North China market was 20000 yuan / ton, up 800-1300 yuan / ton from the beginning of this month, up 6500 yuan / ton or 50.78% from the low value of this year. Bisphenol A has exceeded 20000 yuan / ton. Bisphenol a plant of South Asia plastics has suspended its offer and its inventory is low. Its products are mainly supplied to downstream Kunshan epoxy resin and long-term contract users, with little export volume. Before the festival, the market of bisphenol a rose in a wide range, the supply was tight, the traders pushed up and were reluctant to sell. Starting after the Spring Festival, bisphenol a “lived up to expectations” and continued to hit a new high.

2. Styrene rose by 1805 yuan / ton, or 25.91%

3. ABS rose 1000 yuan / ton, or 6.49%

4. PC rose 2000 yuan / ton, or 8.79%

On the 19th, PC / Lotte chemical / pc-1100 in South China quoted 19500 yuan / ton (excluding tax), up 500 yuan / ton or 2.63% from the 18th, while PC / Mitsubishi / 2000vr in East China quoted 24750 yuan / ton (including tax), up 2000 yuan / ton or 8.79% from the 18th. On the 19th, the market of bisphenol A in East China continued to rise, and the sporadic negotiation reference was around 20000 yuan / ton. Under the expectation of high cost transmission, the sporadic offer of PC rose sharply. Under the situation of high price of raw materials, the cost pressure of PC manufacturers continues to rise, so individual manufacturers continue to rise; within the week, some manufacturers still have not returned to the market, while the downstream market just needs to be restored, the transaction atmosphere in the market is light, and the focus of high price negotiation needs to be consolidated.

5. PVC rose by 200 yuan / ton, or 2.51%

6. Pure benzene rose by 1100 yuan / ton, or 23.5%

On the 18th, the price of pure benzene was 5780 yuan / ton, up 1100 yuan / ton or 23.5% compared with the price at the beginning of the month. The price in East China has reached 6000 yuan / ton. During the Spring Festival, strong crude oil and unscheduled shutdown of some U.S. plants triggered a sharp rise in the price of pure benzene, with FOB Korea up $40 / T to $776 / T. CFR China rose $36.5 per ton to $774.5 per ton. The price of pure benzene is expected to continue to rise from late February to March.