The chemical market is rapidly cooling down by 60%!

Down 4000 yuan! BASF and Wanhua Chemical also announced price cuts!

Wanhua Chemical and BASF, the leading companies in the industry, have also begun to announce product price drops one after another!

Wanhua Chemical announced that starting from May, the listing price of aggregated MDI in China will be 21,800 yuan/ton (down 1,000 yuan/ton from the price in April), and the listing price of pure MDI will be 24,800 yuan/ton (down 1,000 yuan/ton from the price in April).
), this is Wanhua Chemical's lowering of the MDI listing price for two consecutive months
.

In May 2022, Shanghai BASF's TDI listing price was 20,000 yuan/ton, a month-on-month decrease of 4,000 yuan/ton; in April 2022, the TDI settlement price was 18,000 yuan/ton, a month-on-month decrease of 1,500 yuan/ton
.

60% price reduction for half a year! Raw material market demand is sluggish!

After entering the second quarter, the price of dimethyl carbonate (DMC) accelerated to decline
.
Before and after "May 1st", the price of electronic products in the Shandong market dropped to 5,700 yuan (ton price, the same below), and the industrial grade dropped to below 5,000 yuan, down 60% from the high point in October last year
.

Due to the rapid development of the new energy vehicle industry, DMC is favored by a large number of chemical companies.
However, with the rapid expansion of production capacity, the industry has experienced "involution", profits have been greatly reduced, and prices have also fallen
.

The market sentiment turns empty and the signal is exposed!

Saudi Arabia’s slashing of official prices, due to the sudden change in the crude oil market’s direction, seems to be at odds with the Saudi energy minister’s recent attitude towards the market (the world needs to wake up to the reality of running out of energy capacity at all levels)
.

Crude oil futures led the decline in the futures market.
Among them, the main contracts of fuel oil and SC crude oil once fell by more than 8%.
There are many signs that the market's expectations for inflation are rapidly revised downward after the Fed continues to raise interest rates sharply, and the market is opening stagnant trading even deflation risk
.
A series of factors weighed on the international oil market sentiment
.
The overall market sentiment has turned empty, and the short-term oil price is expected to have downside risks.
The price in May is expected to fluctuate in the range of 100-110 US dollars
.