Petrochemical Industry Association: The recovery of the industry is positive but it is still unstable
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According to the latest report released by the Petrochemical Industry Association, currently the Chinese petrochemical industry is facing a sustained downturn in the market. The utilization rate of some industries is still low and idle. The investment in some overcapacity industries has grown too fast, and the protectionism of international trade has risen. The industry export situation is grim. And other issues.
According to the report, although the output of major petrochemical products increased in August, demand continued to rise, and prices of some products continued to rise, but the overall downturn in the petrochemical market did not change significantly. The decline in the overall level of prices continued to expand, and the effective market demand remained relatively stable. insufficient.
According to figures released by the National Bureau of Statistics, the price for the same month in the previous year was 100, and the total price index for more than 1,000 major petrochemical products was 81.33, a decrease of 1.2 percentage points from the previous month. The price index of chemical products was 83.5, a decrease of 0.7 percentage points from the previous month and continued to fall.
The utilization rate of some industries is still low. In August, the operating rate of ethylene plants was approximately 88%, the operating rate of polyvinyl chloride units was approximately 59.6%, the operating rate of methanol plants was approximately 47.1%, and the operating rate of the refining industry was approximately 87.8%.
In addition, although the output of some industries is increasing, the inventory also increases. As of the end of July, the nitrogenous fertilizer industry's production enterprises had 1838,000 tons of urea inventories, an increase of 143.8% year-on-year; the inventory of diammonium phosphates in the phosphate fertilizer industry reached a record high of 1.81 million tons, an increase of 116.8% year-on-year; The inventory of other products, such as two alkalis, is also high.
In the first 8 months, the investment in phosphate fertilizer and compound fertilizer industry increased by 85.4% and 65% respectively year-on-year; the investment in the paint industry rose by 39%; the pesticide industry increased by 30.1%; the rubber product industry increased by 31.2%. In addition, it is understood that the pace of energy expansion in the coal chemical, soda ash, chlor-alkali and other industries is still accelerating.
The report believes that the excessive growth of investment in some overcapacity industries will undoubtedly bring serious pressure on the industrial restructuring of the industry and will also slow the recovery of the industry.