Although the international crude oil price has declined, it is still operating at a high level. The profit pressure of some chemical sub-sectors has increased significantly.
The price of coal, electricity, oil, and transportation has risen sharply, resulting in a significant weakening of the profitability of the oil and chemical industries. In the first half of the year, the oil and chemical industries accounted for a significant drop in the proportion of profits of the industrial sector in the country, from 25.05% in the first half of last year to 20.71% in the same period of this year.
The sharp rise in coal prices has caused the production costs of the polyurethane industry to increase substantially. The rise in coal prices directly led to the rise in coal-to-methanol prices, which is one of the main raw materials for isocyanate, and the raw material costs have risen sharply. The downstream demand has slowed down, so the profitability of the polyurethane industry has been greatly squeezed.
The average price of electricity in the chlor-alkali industry has been raised by 0.03 yuan/kWh. The rise in electricity prices will cause the chlor-alkali industry to lose a profit of 400 million yuan a year. The rise in the prices of electricity and refined oil has also further reduced the profitability of the high-energy-consuming calcium carbide industry. The electricity price increase resulted in an average increase of about 90 yuan per ton of calcium carbide production costs. The increase in refined oil prices also increased the transportation cost per ton of calcium carbide by 20 yuan.
Due to the excessive increase in the price of coal, many fertilizer companies have lost profits or even lost money. In June of this year, the average coal-to-plant price of fertilizer companies nationwide was 1,067 yuan/ton, compared with 703 yuan for the same period last year, up 51.78% year-on-year. At the same time, limiting the prices of chemical fertilizers and adding special export tariffs have also led to the unsustainable production and operation of fertilizer companies. Under the squeeze of high coal price and low chemical fertilizer price limit policy, the comprehensive cost of synthetic ammonia for the chemical fertilizer enterprises with bituminous coal as raw materials is lower by more than 400 yuan per ton for chemical fertilizer enterprises using anthracite as raw materials, and the comprehensive cost of urea is 230 yuan less per ton. However, under the pressure of high coal price and low fertilizer price limit policies, such companies are also facing huge pressure for profitability.
The price of coal, electricity, oil, and transportation has risen sharply, resulting in a significant weakening of the profitability of the oil and chemical industries. In the first half of the year, the oil and chemical industries accounted for a significant drop in the proportion of profits of the industrial sector in the country, from 25.05% in the first half of last year to 20.71% in the same period of this year.
The sharp rise in coal prices has caused the production costs of the polyurethane industry to increase substantially. The rise in coal prices directly led to the rise in coal-to-methanol prices, which is one of the main raw materials for isocyanate, and the raw material costs have risen sharply. The downstream demand has slowed down, so the profitability of the polyurethane industry has been greatly squeezed.
The average price of electricity in the chlor-alkali industry has been raised by 0.03 yuan/kWh. The rise in electricity prices will cause the chlor-alkali industry to lose a profit of 400 million yuan a year. The rise in the prices of electricity and refined oil has also further reduced the profitability of the high-energy-consuming calcium carbide industry. The electricity price increase resulted in an average increase of about 90 yuan per ton of calcium carbide production costs. The increase in refined oil prices also increased the transportation cost per ton of calcium carbide by 20 yuan.
Due to the excessive increase in the price of coal, many fertilizer companies have lost profits or even lost money. In June of this year, the average coal-to-plant price of fertilizer companies nationwide was 1,067 yuan/ton, compared with 703 yuan for the same period last year, up 51.78% year-on-year. At the same time, limiting the prices of chemical fertilizers and adding special export tariffs have also led to the unsustainable production and operation of fertilizer companies. Under the squeeze of high coal price and low chemical fertilizer price limit policy, the comprehensive cost of synthetic ammonia for the chemical fertilizer enterprises with bituminous coal as raw materials is lower by more than 400 yuan per ton for chemical fertilizer enterprises using anthracite as raw materials, and the comprehensive cost of urea is 230 yuan less per ton. However, under the pressure of high coal price and low fertilizer price limit policies, such companies are also facing huge pressure for profitability.