According to statistics released by the National Bureau of Statistics, from January to February of this year, due to two squeezes, the growth rate of profits in the chemical industry fell more, and the profits of the chemical raw materials and chemical manufacturing industries fell by 28.8%.
Recently, due to the high inventory level in the downstream textile market, the price of PTA (pure terephthalic acid) dropped sharply to 8,600 yuan/ton, and the price of ethylene glycol jumped from 7,900 yuan/ton in early March to 7,250 yuan/ton.
In the agrochemical market, due to the impact of spring planting, the operating rate of the urea industry has stabilized. However, demand in the Northeast and North China is flat and prices are weak. In addition, the rising price of crude oil has reduced the support for the back end of the industry chain. The direct downstream products of crude oil, such as pure benzene and toluene, are subject to high costs and adverse downstream transmission, and have been caught in a stalemate in price consolidation.
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