Super long standby in peak season

category:Finance
 Super long standby in peak season


According to the relevant personnel of Sanyou chemical industry, at present, the four major products of the company, namely, soda ash, viscose staple fiber, chlor alkali and silicone, are running stably with saturated orders. Since the second half of this year, the companys performance has been greatly boosted by the rising market of chemical raw materials. The net profit in the third quarter of this year increased by 119% year on year.

Recently, the reporter of Shanghai Securities News visited and investigated the upstream and downstream of various chemical raw materials industry chain, and found that Sanyou chemical industry is only a microcosm of Chinas chemical industry boom since the third quarter of this year. Driven by various factors, such as the recovery of terminal demand and the increase of overseas orders, the prices of a variety of domestic bulk chemical raw materials rose strongly, the upstream and downstream of the industrial chain ushered in the overall recovery, and the performance of relevant listed companies was positively repaired.

(source: Baichuan Yingfu)

The industry chain of medical gloves is booming

PVC paste resin gloves are chemical raw materials for explosion red this year. With the continuous expansion of medical disposable gloves production enterprises, the whole industry chain is full production and full marketing.

When the paste resin glove material was not so popular before, we visited the customers, not to mention the sales. We were very moved when the customers invited us to dinner. Now of course its different. We can only guarantee the supply of core customers. A salesman of a listed company producing paste resin glove material described his different situations before and after the popularity of this chemical raw material.

He told reporters that since the outbreak of the epidemic, especially in the second half of the year, with the rapid rise of downstream demand, paste resin glove compound, a subsidiary product of chlor alkali chemical industry, suddenly became in short supply. Since July this year, the price of paste resin has soared nearly three times, and the current price has reached more than 24000 yuan per ton. Now the industry sealed single, a single quotation, guarantee core customer supply is a normal phenomenon.

As a downstream enterprise of paste resin glove material, the listed companies producing medical gloves have become the focus of capital market. Take Yingke medical, a leading enterprise of medical gloves, as an example. In the first three quarters of this year, the company achieved 8.945 billion yuan of operating revenue, with a year-on-year increase of 486.44%; the net profit attributable to shareholders of listed companies was 4.372 billion yuan, with a year-on-year increase of more than 33 times.

The company said that since this year, the companys orders have increased significantly, PVC gloves and nitrile gloves products have been in full production and sales status, and at present some customer orders have been scheduled to the second quarter of next year. Due to the serious imbalance between supply and demand, the price is still rising. The follow-up companies will accelerate the expansion of production to meet the rapid growth of disposable gloves market demand.

Organic silicon industry chain rises price

With the strong recovery of construction industry and textile industry, the upstream raw material silicone monomer production enterprises also ushered in a peak season of super long standby.

In the past, the peak season was March, April, September and October of each year. At present, it should have entered the off-season. But this year, due to the impact of the epidemic situation, the return of overseas textile orders and the recovery of construction industry, silicone monomer has ushered in an ultra long peak season since August. A person in charge of Sanyou silicon, a subsidiary of Sanyou chemical, told the reporter, since September, our products have been in a state of short supply, and the demand of customers has increased substantially, and the enterprise has already been zero inventory. For example, one of our customers in East China is a listed company producing textile products. In the past, we normally needed 1000 to 1300 tons of silicone DMC per month, but now the demand has increased to 1500 tons to 1600 tons. In order to enable the main customers to get the goods, the company and each customer can only control the amount of signed orders.

Various building adhesives are important downstream products of silicone monomer. On November 13, as a manufacturer of silicone sealant, Jitai raised the price of silicone related products by 10% to 15%. The relevant person in charge of the company told reporters that the price adjustment was mainly due to the rise of raw materials and the increase of downstream orders. Affected by the epidemic situation this year, the operating rate of doors, windows and curtain walls in the first half of this year is low, and now it is in the rush stage. In addition, due to the shortage of raw materials, the companys silicone sealant orders have increased greatly.

For the time being, the company is in full load production mode, basically in 24-hour production mode. More than 5 days before delivery based on backlog. At present, the company has a shortage of raw materials, which makes it more difficult to purchase, but it can still meet the needs of daily orders and production. Although the price of silicone series products has risen by 10% to 15%, the final sales price may not rise by 10% to 15% due to market competition. The company will adjust the price of products in time according to the rise of raw material price and market reaction The person in charge said.

According to Baichuan information monitoring, as of November 20, the price of silicone DMC was about 29000 yuan / ton, almost double that of August. An industry source told reporters that from the supply side, the current operating rate of the silicone industry has been close to the limit of 95%. Silicone is a capital intensive industry, and its production expansion cycle is about 2-3 years, so it is difficult to build a large number of new production capacity in the short term. Domestic production capacity of 1.1 million tons is expected to be put into operation in 2021, but it is mainly concentrated in the second half of 2021. Only 400000 tons of production capacity of Hesheng silicon will be put into operation in the first half of 2021. This means that there is no room for expansion on the short-term supply side, and the short-term prices are still strong.

Titanium dioxide is still in the rising channel

Since the second half of this year, titanium dioxide has become a hot chemical raw material due to six rounds of price adjustment.

A person in charge of a large domestic titanium dioxide listed company told reporters that titanium dioxide is widely used in construction, automobile, plastic, paper, ink, chemical fiber and other industries. At present, the entire titanium dioxide industry chain is in the rising channel.

Judging from the performance of the third quarter of this year, from Anning shares in the upstream of the industrial chain to annada, CNKI titanium dioxide, etc., the performance of the first three quarters all achieved positive growth year-on-year.

It is understood that in the downstream of titanium dioxide, since the end of October, more than 30 coating enterprises have raised product prices.

Overall recovery of rubber additives industry chain

From the perspective of raw materials, aniline occupies the largest share of all kinds of raw materials, and is directly used to manufacture accelerators and antioxidants. Other raw materials used in the production of antioxidant, such as diphenylamine and aminodiphenylamine, are also produced from aniline. Therefore, the price trend of aniline has a great impact on rubber additives.

Aniline exports have recovered from July, and the order accumulated in the early stage of the enterprise needs digestion period, which has caused the product to a certain extent. The price of aniline in the first two years was low, the production power of the enterprise was insufficient, the inventory of the enterprise was always low, and the change of supply and demand will be reflected in the price soon, said researcher of China Thailand securities and chemical industry to reporters. The demand of MDI and rubber industry is persistent, and the price drop probability of aniline in the year is not very high.

From the perspective of inventory, rubber additives have been in low inventory operation since this year. Most of the listed companies in rubber auxiliaries plate have carried out diversified layout, such as Tongcheng new material, black cat stock, Chenguang new material, etc. In contrast, Yanggu Huatai rubber additives for vertical extension, its business indicators can more directly reflect the industry.

From the downstream point of view, nearly 70% of rubber additives are used in tire production, and its market demand mainly depends on the tire market. Since August, tire enterprises have been moving up the factory price. As the tire industry is facing seasonal demand peak season, the downstream demand of rubber additives is expected to increase steadily.

Extended reading:

Improve the layout of industrial chain

Reporter Liu Li, editor Qiu Jiang

On November 9, the 1 million ton ethylene plant of Wanhua chemical successfully produced qualified ethylene products, marking the successful start-up of the first phase of the companys polyurethane industrial chain integration ethylene project, which enriched the companys petrochemical products. With the commissioning of the first phase of 1 million tons of ethylene project, the company will start to construct the second phase ethylene project, further extend to the upstream of the industrial chain, and realize the diversification of downstream products. It is understood that the construction of ethylene project is conducive to improving the integration of polyurethane industrial chain in Wanhua Yantai Industrial Park, solving the raw materials of ethylene oxide and propylene oxide needed in the production process of polyether polyol in the industrial park, and can consume hydrochloric acid, a by-product of isocyanate industrial chain, and promote the balanced development of the industry.

Since its listing, Hengli Petrochemical has continuously optimized its business structure, continuously expanded its production capacity and highlighted its advantages in the whole industrial chain. A few days ago, the company announced that it would invest 11.495 billion yuan in Huizhou to build 2 u00d7 2.5 million tons / year PTA project. After the project reaches its production capacity and efficiency, it is estimated that the average annual sales revenue will be 21.25 billion yuan and the total profit will be 1.206 billion yuan. Relevant person in charge of the company told reporters that after the completion of the project, the companys overall raw material consumption and comprehensive operation cost will be further reduced, so as to enhance the companys competitive advantages in technology, scale and cost in PTA industry. By then, the PTA capacity of the company will increase to 16.6 million tons / year. It is understood that Hengli Petrochemical is an industry leading enterprise with comprehensive cost operation advantages. Compared with the industry average level, Hengli Petrochemical will have an excess profit range of 200 yuan to 300 yuan / ton.

Recently, the leading enterprises of titanium dioxide in China have made frequent actions, and have successively carried out strategic layout in Hami City and Panzhihua City, which shows that the company is improving the upstream and downstream systems of titanium dioxide industry chain.

Recently, the companys relevant person in charge told reporters that with the expansion of production capacity, the companys demand for titanium concentrate increased sharply. The company has built a 2 million tons titanium rich material production base in Xinjiang and invested in Panzhihua to build a vanadium titanium industrial cluster: first, to form resource guarantee for the company at the supply end of raw materials; second, to use titanium rich materials as raw materials for titanium dioxide production, reduce the production of sulfide waste, reduce the cost of the companys treatment of three wastes, and at the same time meet the green environmental protection economy called for by the state Relying on the resources advantages of Panzhihua area and combining with the industrial advantages of the company, we can realize the new development in the field of vanadium and titanium industry and the high-end new material field of titanium industry chain, comprehensively optimize and upgrade the industrial structure of the company, and effectively enhance the companys competitive strength in the industry. Guoxin Securities said in the latest research report that after the supply side reform, a large number of small, chaotic and poor backward production capacity has been eliminated. The advanced production capacity in the industry represented by the leading listed companies has expanded one after another. Compared with the low point of the previous round, the market concentration has been significantly improved. The industry has ushered in the boom stage again. The biggest beneficiaries are the industry leading enterprises with obvious capacity expansion Industry. Source of this article: Yang Bin, editor in charge of Shanghai Securities News_ NF4368

Recently, the companys relevant person in charge told reporters that with the expansion of production capacity, the companys demand for titanium concentrate increased sharply. The company has built a 2 million tons titanium rich material production base in Xinjiang and invested in Panzhihua to build a vanadium titanium industrial cluster: first, to form resource guarantee for the company at the supply end of raw materials; second, to use titanium rich materials as raw materials for titanium dioxide production, reduce the production of sulfide waste, reduce the cost of the companys treatment of three wastes, and at the same time meet the green environmental protection economy called for by the state Relying on the resources advantages of Panzhihua area and combining with the industrial advantages of the company, we can realize the new development in the field of vanadium and titanium industry and the high-end new material field of titanium industry chain, comprehensively optimize and upgrade the industrial structure of the company, and effectively enhance the companys competitive strength in the industry.