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Rising costs "heavy" European petrochemical producers

 Last Update: 2021-11-02
 Source: Internet
 Author: User

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Recently, the price of natural gas in Europe has been rising all the way, and it has promoted the continuous rise of downstream power prices

European electricity prices soar

The soaring price of natural gas in Europe has become a hot topic in Europe and even the world

Accompanying the surge in natural gas prices is the general rise in electricity prices in Europe

Fertilizer giants are severely impacted

As the electricity supply in Europe is still stable, the price increase of natural gas and electricity this time will affect the fertilizer industry most seriously

At present, fertilizer giants such as Yara, Borealis and OCI of the Netherlands have announced production cuts

IHS Markit predicts that Europe’s current closure of synthetic ammonia production capacity totals 4.

Petrochemical producers intend to pass on costs

Unlike the fertilizer industry, electricity prices have risen but there is no shortage, and non-fertilizer petrochemical companies have no plans to reduce production

In fact, European petrochemical producers have already started to pass on costs this year, but the situation is now more difficult

Insiders in the petrochemical industry have mixed feelings about the prospects of the petrochemical market

A trader in the Spanish caustic soda market said that its negotiations with customers are still in progress, and it is expected that producers are unlikely to reduce production unless they are unwilling to accept higher prices from customers

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