According to the analysis of the person in charge of the Information Department of the China Petroleum and Chemical Industry Association, a comprehensive review of the operation of the petrochemical industry in the first three quarters of the year has led to rising costs, some products with excess capacity, and fluctuating oil markets. Some industries have encountered major problems such as export bottlenecks and poor efficiency of the fertilizer industry. According to the expert anatomy of the China Epoxy Resin Industry Association, the cost performance of China's petrochemical industry has gradually increased. The specific performance is mainly the following aspects.
The cost rises. In the process of promoting energy saving and consumption reduction in the entire society, improving energy efficiency, and accelerating the construction of a conservation-minded society, China has also deepened energy resources in addition to extensive energy-saving propaganda and education and strict restrictions on the blind development of high-energy-consumption and high-pollution industries. Price reforms form a price incentive policy that is conducive to energy conservation and energy efficiency, and is one of the specific guidelines that the country has set to achieve energy conservation goals. The implementation of this measure will often promote the price of coal, electricity, oil and other resource products. The petroleum and chemical industry has always been a big consumer of energy in the national economy. The price increase of resource products will have an impact that cannot be ignored.
Some products have excess capacity. As the efficiency of the entire chemical industry has increased in recent years, the whole industry has set off an upsurge in capacity expansion. In particular, there are a number of new projects in regions with abundant energy and resources in the middle and western regions. These regions want to accelerate economic development during the “10th Five-Year Plan†period. , They have used local coal, minerals, and other resources to plan and build large-scale coal chemical bases. The projects they built are similar. These projects will be successively put into production in the past two years, making many products have the situation of excess capacity or there is such a trend, such as two alkali, calcium carbide, pesticides, urea, paint, dyes and so on. At present, this trend continues to spread, there is a lack of unified coordination among various regions, blind construction of the development capacity of the market and the environment, or the phenomenon of disorderly planning in the same area. Many private investment entities lack rational and low-level redundant construction, which also exacerbates the issue of overcapacity. Advancing structural adjustment, strengthening pollution control, and developing circular economy have become a top priority for the current industry development.
The oil market fluctuates. The international oil market which has been showing a bullish atmosphere this year has continued to hit record highs in historical prices in early August. It has quickly risen through the $80/barrel trend, but it has been a sharp turnaround since mid-August, more than a month ago. During the time, it dropped by nearly $20/barrel, which was the fastest since the Gulf War in 1991; domestic crude oil has been adjusted to international standards, and prices have also fallen. Refined oil products are currently not affected by this.
Some industries encounter export bottlenecks. Affected by such factors as the national export levy and tax rebate policy adjustment, some sub-sectors encountered export bottlenecks. From January to August, the total amount of fertilizer (in-kind) exports was 2.97 million tons, a year-on-year decrease of 2.5%; nitrogen fertilizer exports were 1.2 million tons, a year-on-year decrease of 23.2%; and phosphate fertilizer exports were 500,000 tons, a year-on-year decrease of 25.2%. The export situation of pesticides was also unfavorable. The cumulative volume and volume of exports all decreased. The export volume was 290,000 tons, which was a year-on-year decrease of 2.3%; the export value was 740 million US dollars, a year-on-year decrease of 24.0%. The reason for this is that because the five kinds of highly toxic pesticides will be completely banned from production, sales, and use at the end of 2006, the proportion of these products in the total amount of pesticide exports is still relatively high; the second is that the state has eliminated some pesticide products. Export tax rebate. Due to the influence of foreign anti-dumping, special safeguard measures and green barriers in Europe and the United States, the export situation of the chlor-alkali industry is not optimistic.
Fertilizer industry is not effective. Due to the recent increase in new capacity, the production of chemical fertilizer companies is booming, and the market is experiencing a trend of oversupply; the chemical fertilizer light storage system is still not perfect; water and drought disasters have been severe since the spring and summer of this year, affecting sales of fertilizers in some areas; Affected by the adjustment of export taxation policies, exports are sluggish; while natural gas, coal, electricity, and freight rates continue to rise, which together lead to the predicament that fertilizers are mainly falling prices and losses in the nitrogen fertilizer industry. If it is not solved in time, it will not only intensify the loss situation, but also affect the use of spring plowing next year.
The cost rises. In the process of promoting energy saving and consumption reduction in the entire society, improving energy efficiency, and accelerating the construction of a conservation-minded society, China has also deepened energy resources in addition to extensive energy-saving propaganda and education and strict restrictions on the blind development of high-energy-consumption and high-pollution industries. Price reforms form a price incentive policy that is conducive to energy conservation and energy efficiency, and is one of the specific guidelines that the country has set to achieve energy conservation goals. The implementation of this measure will often promote the price of coal, electricity, oil and other resource products. The petroleum and chemical industry has always been a big consumer of energy in the national economy. The price increase of resource products will have an impact that cannot be ignored.
Some products have excess capacity. As the efficiency of the entire chemical industry has increased in recent years, the whole industry has set off an upsurge in capacity expansion. In particular, there are a number of new projects in regions with abundant energy and resources in the middle and western regions. These regions want to accelerate economic development during the “10th Five-Year Plan†period. , They have used local coal, minerals, and other resources to plan and build large-scale coal chemical bases. The projects they built are similar. These projects will be successively put into production in the past two years, making many products have the situation of excess capacity or there is such a trend, such as two alkali, calcium carbide, pesticides, urea, paint, dyes and so on. At present, this trend continues to spread, there is a lack of unified coordination among various regions, blind construction of the development capacity of the market and the environment, or the phenomenon of disorderly planning in the same area. Many private investment entities lack rational and low-level redundant construction, which also exacerbates the issue of overcapacity. Advancing structural adjustment, strengthening pollution control, and developing circular economy have become a top priority for the current industry development.
The oil market fluctuates. The international oil market which has been showing a bullish atmosphere this year has continued to hit record highs in historical prices in early August. It has quickly risen through the $80/barrel trend, but it has been a sharp turnaround since mid-August, more than a month ago. During the time, it dropped by nearly $20/barrel, which was the fastest since the Gulf War in 1991; domestic crude oil has been adjusted to international standards, and prices have also fallen. Refined oil products are currently not affected by this.
Some industries encounter export bottlenecks. Affected by such factors as the national export levy and tax rebate policy adjustment, some sub-sectors encountered export bottlenecks. From January to August, the total amount of fertilizer (in-kind) exports was 2.97 million tons, a year-on-year decrease of 2.5%; nitrogen fertilizer exports were 1.2 million tons, a year-on-year decrease of 23.2%; and phosphate fertilizer exports were 500,000 tons, a year-on-year decrease of 25.2%. The export situation of pesticides was also unfavorable. The cumulative volume and volume of exports all decreased. The export volume was 290,000 tons, which was a year-on-year decrease of 2.3%; the export value was 740 million US dollars, a year-on-year decrease of 24.0%. The reason for this is that because the five kinds of highly toxic pesticides will be completely banned from production, sales, and use at the end of 2006, the proportion of these products in the total amount of pesticide exports is still relatively high; the second is that the state has eliminated some pesticide products. Export tax rebate. Due to the influence of foreign anti-dumping, special safeguard measures and green barriers in Europe and the United States, the export situation of the chlor-alkali industry is not optimistic.
Fertilizer industry is not effective. Due to the recent increase in new capacity, the production of chemical fertilizer companies is booming, and the market is experiencing a trend of oversupply; the chemical fertilizer light storage system is still not perfect; water and drought disasters have been severe since the spring and summer of this year, affecting sales of fertilizers in some areas; Affected by the adjustment of export taxation policies, exports are sluggish; while natural gas, coal, electricity, and freight rates continue to rise, which together lead to the predicament that fertilizers are mainly falling prices and losses in the nitrogen fertilizer industry. If it is not solved in time, it will not only intensify the loss situation, but also affect the use of spring plowing next year.
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