Oil prices plummeted 30%!

International oil prices fell sharply amid concerns about the collapse of global oil demand

More than 30 countries followed up on raising interest rates, and oil prices fell to the lowest level in half a year

On the 8th, oil prices continued to fall.

Although the spot supply of crude oil continued to be tight, the market's worries about stagflation in developed economies and global economic recession continued to heat up.

The reason for this is the prospect of a global recession, leading to lower expectations for crude oil demand

As countries continue to raise interest rates amid high inflation, increasing the risk of a slowdown in financial activity, a downward revision of current oil price forecasts is increasingly likely

More than 80 kinds of chemical products fell sharply, and the coatings industry chain fell synchronously

According to incomplete statistics, the prices of more than 80 products in the oil industry chain and derivative industry chain have fallen significantly due to this impact.

There are more than 40 kinds of chemical products in the oil industry chain that have been directly affected and their prices have dropped.

1,4-Butanediol is currently quoted at RMB 11,240/ton, down by RMB 19,590/ton or 63.

Propylene glycol is currently quoted at 7366.

The current price of isobutyraldehyde is 7266 yuan/ton, which is 6934 yuan/ton lower than the price at the beginning of the year, a decrease of 48.

The current price of acetic acid is 3400 yuan / ton, which is 2790 yuan / ton lower than the price at the beginning of the year, a decrease of 45.

Methyl acetate is currently quoted at RMB 3,850/ton, down by RMB 3,150/ton or 45.

The current price of neopentyl glycol NPG is 9983 yuan / ton, down 6767 yuan / ton compared with the price at the beginning of the year, a decrease of 40.

The current price of acrylic acid is 8066.

The current quotation of epichlorohydrin is 11,350 yuan/ton, down 7,066 yuan/ton from the quotation at the beginning of the year, a decrease of 38.

The current price of propylene oxide is 6550 yuan / ton, which is 4050 yuan / ton lower than the price at the beginning of the year, a decrease of 38.

Bisphenol A is currently quoted at 11,816 yuan / ton, down 6,634 yuan / ton from the quotation at the beginning of the year, a decrease of 35.
96%;

The current price of butanone is 8266 yuan / ton, down 4594 yuan / ton compared with the price at the beginning of the year, a decrease of 35.
72%;

Liquid epoxy resin is currently quoted at 17,500 yuan/ton, down 9,000 yuan/ton from the beginning of the year, or 33.
96%;

The current price of DMF is 10,600 yuan/ton, down 5,300 yuan/ton compared with the quotation at the beginning of the year, a decrease of 33.
33%;

The current price of solid epoxy resin is 16,000 yuan / ton, which is 7,500 yuan / ton lower than the price at the beginning of the year, a decrease of 31.
91%;

The current price of TGIC is 34,000 yuan / ton, which is 15,000 yuan / ton lower than the price at the beginning of the year, a decrease of 30.
61%
.

In other industrial chains other than the crude oil industry chain, the prices of more than 30 kinds of chemical products also fell, with a maximum drop of nearly 50%
.
Among them are urea and organic silicon in the natural gas chemical industry chain, ethanol and acetic anhydride in the coal chemical industry chain, and yellow phosphorus and titanium dioxide in the downstream such as phosphate rock and titanium ore
.

The current quotation of dichloromethane is 3012.
5 yuan/ton, down 2960 yuan/ton compared with the quotation at the beginning of the year, a decrease of 49.
56%;

Glycine is currently quoted at 18,500 yuan / ton, down 16,500 yuan / ton from the quotation at the beginning of the year, a decrease of 47.
14%;

Sulfur is currently quoted at 1096.
67 yuan/ton, down 930 yuan/ton or 45.
89% from the quotation at the beginning of the year;

The current price of hydrochloric acid is 173.
33 yuan / ton, down 144.
67 yuan / ton compared with the price at the beginning of the year, a decrease of 45.
49%;

The current price of acetic anhydride is 6225 yuan / ton, down 4125 yuan / ton compared with the price at the beginning of the year, a decrease of 39.
86%;

The current price of TMP is 10,450 yuan/ton, down 6,800 yuan/ton compared with the price at the beginning of the year, a decrease of 39.
42%;

Maleic anhydride is currently quoted at 7,520 yuan/ton, down 4,646.
67 yuan/ton, or 38.
19%, compared with the quotation at the beginning of the year;

The current quotation of chloroform is 2750 yuan/ton, down 1625 yuan/ton compared with the quotation at the beginning of the year, a decrease of 37.
14%;

The current price of yellow phosphorus is 26,250 yuan / ton, down 14,416.
67 yuan / ton from the price at the beginning of the year, a decrease of 35.
45%;

Phosphoric acid is currently quoted at RMB 8,190/ton, down by RMB 3,276.
67/ton from the quote at the beginning of the year, or 28.
58%;

Isooctyl acrylate is currently quoted at 10,225 yuan / ton, down 3,875 yuan / ton from the quotation at the beginning of the year, a decrease of 27.
48%;

The current price of silicone is 18,960 yuan / ton, down 6,840 yuan / ton compared with the price at the beginning of the year, a decrease of 26.
51%;

Ammonium sulfate is currently quoted at 1173.
33 yuan / ton, down 416.
67 yuan / ton from the quotation at the beginning of the year, a decrease of 26.
21%;

The current price of melamine is 7233.
33 yuan / ton, down 2433.
34 yuan / ton compared with the price at the beginning of the year, a decrease of 25.
17%;

Aluminum fluoride is currently quoted at 10,950 yuan / ton, down 3,416.
67 yuan / ton from the beginning of the year, or 23.
78%;

The current price of dimethyl carbonate is 7033 yuan/ton, down 2067 yuan/ton compared with the price at the beginning of the year, a decrease of 22.
71%;

The current price of isobutanol is 6883 yuan / ton, which is 1917 yuan / ton lower than the price at the beginning of the year, a decrease of 21.
78%
.

The raw materials upstream of the coating industry chain are also among them
.
Such as titanium dioxide, TGIC additives, liquid/solid epoxy resin, powder user interior/outdoor polyester resin, etc.
, as well as a layer of epichlorohydrin, bisphenol A, isobutyraldehyde, neopentyl glycol, and The bulk chemicals required for emulsions have all declined, and the ton price of epoxy resin and titanium dioxide has fallen by more than 1,000 yuan
.
That is to say, although the price of titanium dioxide has been raised for 2 rounds, and upstream suppliers such as resins and emulsions are also announcing the price increases, the final result is that all the increases have been spit out
.

Many people are suspicious of the current drop in the price of chemical products.
It is understandable that the price of chemical products in the oil industry chain has dropped, but why are the prices of other chemical products in the coal, natural gas and various mineral resource industry chains falling? This is naturally inseparable from the catalysis of the continuous decline in oil prices.
The low inventory of crude oil has also made more and more countries and industries choose coal and natural gas.
The continuous fermentation of the global energy crisis has also caused great damage to various non-renewable resources.
consumption and irreparable losses
.

A recession in the U.
S.
and Europe in the coming year seems inevitable due to the rapid tightening of monetary policy, and the European region faces a similar situation to the
U.
S.
The euro area economy will experience a mild (technical) recession by the first quarter of 2023 at the latest, affected by weakening growth momentum, shrinking real incomes, disruptions to gas supplies and tighter financial conditions
.

Institutional analysis shows that the drop in international oil prices is caused by the superposition of political, economic and financial factors
.
During economic recession, energy consumption demand will weaken
.
As the downward pressure on the global economy further strengthens, the demand outlook of the international crude oil market will face more uncertainties and challenges
.
If the market's concerns about insufficient crude oil demand further increase, international crude oil prices will face greater downward pressure
.

That is to say, there is still room for future international oil prices to fall, and there may also be room for chemical products to fall
.
As inflation in many countries around the world, represented by Europe and the United States, continues to hit new highs, market demand continues to decline
.
Under the mentality of "buying up and not buying down" in the industry, the current situation of sluggish order transactions is difficult to change
.