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Market pressure for chemical products has grown in recent weeks
.
International oil prices rose significantly
International oil prices rose significantlyOn June 1, the price of Brent crude oil futures closed above US$70/barrel for the first time in two years.
Since then, international oil prices have exceeded US$70/barrel and have continued to rise
.
In such a market situation, market participants are more optimistic about the future of international oil prices
.
Trafigura executive chairman Jeremy Weir said there was room for oil prices to rise
.
Transportation costs have risen sharply
Transportation costs have risen sharplyInternational oil prices directly affect the production costs of chemical companies
.
Recently, a number of international shipping companies such as Hapag-Lloyd, MSC, and Shenyuan Steamship announced that they will increase their fees from mid-June
.
For the chemical industry, the cost of shipping is directly related to the profit of the company
.
A variety of chemical products, affected
A variety of chemical products, affectedThe chemical industry market is being affected by the surge in crude oil and international shipping prices
.
Since June, although the price increases of various chemicals around the world have eased for a while, with the recent rise in crude oil and shipping prices, the prices of some products have begun to rise again, and many companies have further raised their product prices
.
On June 14, Lanxess announced a global increase in the price of inorganic pigments, which will increase by at least EUR 150/ton or the equivalent in local currency
.
On June 11, Showa Denko Co.
, Ltd.
said that from July 1, the sales price of polyvinyl chloride will be increased
.
On June 11, Mitsubishi Chemical Corporation announced that it will increase the price of ethylene oxide and derivatives from July 1
.
Roma Chemicals announced that from June 14, the sales price of PMMA in Europe and the Asia-Pacific region will be increased by more than 400 euros / ton
.
In addition to organic chemicals, tire prices are also rising
.
Recently, Kumho Tire announced an average increase of about 3% in tire prices in the Japanese market, which will be implemented from July 1, 2021
.
Previously, Michelin, Pirelli, Bridgestone, Goodyear, Sumitomo Rubber, Hankook, Yokohama and other international tire giants also announced price increases
.
In just two months, many manufacturers have raised prices twice or even three times in a row, with a superimposed increase of more than 10%
.
Most tire manufacturers said the price increases were due to rising raw material prices, as well as logistics and labor costs
.
