The explosion! Basf and other chemical giants monopoly price rise, freight and ten consecutive rise
2021-07-12
On July 7, BASF announced on its website that it would increase the price of polyurethane products in North America by $0.10 / lb (about 1,418 yuan/ton) for shipments starting July 15, with the possibility of higher price increases for certain polyurethane systems.
Not only BASF, on July 1, another polyurethane giant in North America Stepanannounced that it would raise the price of Stepanpol Polyol (insulation application) and Terate Polyol (insulation application) in North America by 120 euros per ton (about 918 yuan/ton) from July 1. The company also raised the price of phthalic anhydride in North America by $0.03 a pound.
Not only in Europe and the United States, Japanese PU products are also greatly affected by the supply shortage.
On July 8, the company announced on its official website that it will raise the global prices of all grades of Septon, Hybrar Hydrostyrene Elastomers and TU Polymer by $0.33 per pound (about 2138 yuan/ton) from August 1.
In addition, it is worth noting that some manufacturers in Japan said that due to the approach of the Olympic Games, the domestic road control intensified, or extended the delivery date of some products!
Foreign trade season is coming, now the shortage of containers, empty box return slow, freight up to stop!
According to customs statistics, China's exports exceeded 8 trillion yuan in the first half of 2021, up 3 percent year on year! Due to the impact of the epidemic, China's sea freight will continue to increase in 2020-2021, with 95% of the containers at the peak being China's foreign trade cargo.
Due to the Suez Canal congestion, repeated epidemic and other factors, the shipping speed slowed down, the port inventory has been bursting, and a box of difficult to find pushed up the shipping price. Freight rates from Shanghai, China, to Europe have risen for the past 10 weeks, according to the Shanghai Shipping Exchange and the Baltic's two main freight indices.
According to the Drewry Global Freight Index, as of July 1, the average freight rate for a 40-foot container in the world was as high as $8,400, and the listed freight rate for some Chinese to European and American ports was as high as $32,000.
More exports! Chemical market growth in the second half of the year can be expected!
Overseas stocking season starts. Cargoes such as Halloween, Black Friday shopping festival and Christmas will be shipped from August to December. In addition, due to multiple adverse factors such as difficulty in booking space, serious port cancellation and unstable shipping schedule, freight rates in the shipping market will remain high.
In addition, domestic and foreign large factories in July to August into the second half of the maintenance, production of mass production of the device production. Comprehensive estimates, August - October chemical market will usher in a price rise.
