Chemical futures rise limit tide, styrene hit a new high! New energy vehicle orders increased 10 times, plastic city across the line
After the festival, chemical futures set off a limit-up tide! Styrene jumped high and then continued to rise strongly, continuously breaking new highs, and did not see obvious pressure points, PP, PE, PVC, staple fiber, ethylene glycol and other futures continued to rise, and the plastic spot market rose across the board.
chemical futures lift harden tide! Styrene hit a new high on the market!
Since the start of the holiday, China's commodity futures rose in a large area, energy and chemical futures rose the limit tide. On February 18, styrene, staple fiber, ethylene glycol closed up by the limit, and crude oil rose by more than 7%.
On February 22, chemical futures rose, ethylene glycol, staple fiber, styrene futures hit a new high. Data show that as of the close of trading, ethylene glycol, short fiber, styrene futures main contracts rose 8.98%, 5.16%, 6.45%, respectively, to 5,497 yuan/ton, 8,024 yuan/ton, 9,338 yuan/ton, all hit a new high since the listing.
Monday (February 22) the New York Mercantile Exchange West Texas Light oil 2021 March futures settled at $61.49 per barrel, up $2.25 / barrel, or 3.8%, compared with the previous trading day, the trading range of 58.82-61.84 US dollars/barrel; Ice Brent for April 2021 settled at US $65.24 a barrel, up US $2.33 a barrel, or 3.7%, from the previous trading range of US $62.59 to US $65.84 a barrel.
Chinese styrene unit starts remained stable (86.7%), there was no significant change, and no new units came online, so the impact of Chinese styrene unit was limited. China's styrene consumption is growing, so the styrene import volume has remained the first in the world for a long time.
The main cause of price fluctuations is still caused by the sudden maintenance of overseas equipment, especially in Europe and the United States. The European region due to the early start is low, leading to the styrene inventory in the region is at a low level, since the end of January, the spot supply in the region has always been tight, but the Netherlands LyondellBasell sudden stop led to the European market price rose 239 US dollars/ton on the same day, open the styrene dollar price pull up the prolusion. Subsequently, the United States due to the cold weather, resulting in the sudden parking of most factories, so far, the overall operating rate of styrene in the United States is less than 30%. The sudden maintenance of the two major regions in Europe and the United States led to a sudden increase in the global dollar price during the Spring Festival, which affected the rise in the price of styrene in China.
For the future trend of commodities, the current Chinese styrene inventory is less than expected, and there are new equipment delayed production, so that it is expected that the overall supply recovery will be delayed until the end of the first quarter. In the short term, the market is optimistic about the styrene market.
Xingxin Macro pointed out that subsequent commodity prices are still supported by restocking in the short term, but are more sensitive to the marginal inflection point of demand. The short-term overseas supply and demand gap can still support the replenishment of inventory, the follow-up needs to observe the marginal inflection point of demand, from historical experience, in the later period of replenishment of inventory commodity prices may stagflate. The characteristics of the current inventory cycle of "refueling in the air" may also make the end of the replenishment cycle faster once the demand turns a turning point, and it is not ruled out that the price of commodities will quickly turn from "fast rising" to "fast falling".
order increase 10 times! New energy vehicle plastic annual growth of more than 26%!
the year of the ox lunar New Year, new energy vehicles to meet again. Orders for new energy vehicles in China's first-tier cities rose 10 times year-on-year during the Spring Festival, according to JD.com big data. By January 2021, the production and sales of new energy vehicles in China will reach 194,000 and 174,000, up 285.8 percent and 238.5 percent year on year, respectively. The increase in orders during the Spring Festival is expected to make February's new energy vehicle sales hit a new high.
In fact, not only in China, but also in Europe, new-energy vehicle sales are on the rise. According to data from EV-volumes.com, a total of 1,367,138 NEV passenger vehicles were registered and sold in Europe in 2020, a year-on-year increase of 142 percent, even surpassing China's sales record of 1.246 million NEVs in 2020.
The rise in sales of new energy vehicles has attracted many enterprises to invest in the construction of vehicle factories and battery production facilities. However, with the growth of sales and the improvement of products, the market and competition situation have also quietly changed:
With the maturity of products and the improvement of charging facilities, the proportion of private users in China's new energy market has increased to 75%, and the industry has accelerated its transformation from policy-driven to market-driven.
Teijin announced this week that it will invest 10 million euros in the installation of a new fiberglass sheet molded composite (GF-SMC) production line at Benet Auto Parts. The line will begin operations in autumn 2022 to meet the strong demand in Europe for Teijin's composite formulations.
As one of the important raw materials for new energy vehicles, the process and performance requirements of plastics are increasingly becoming the focus of automakers. At the same time, the material supplier's material research and development ability and rapid response ability are also put forward higher requirements.
according to the market and market research report, The automotive plastics market size of new energy vehicles is expected to reach a compound annual growth rate of 26.9 percent, which will grow from $797 million in 2020 to $2.621 billion in 2025. Automotive plastics (ABS, PU, PA, PC, PVB, PP, PVC, PMMA, HDPE, LDPE, PBT) will have a big role to play, whether it is dashboards, seats, interior trim, bumpers, or body, battery and engine, lighting and other components.
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