Monthly Archives: September 2017

Aggregate MDI prices soared 43% for 12 consecutive days, leading stocks will break out

Wanhua Chemical recently announced that since September 2017, Wanhua Chemical Group Co., Ltd. China regional MDI distribution market listing price of 28,500 yuan / ton, direct market listing price of 28,500 yuan / ton; pure MDI listing price of 27,700 yuan / ton The According to the current market situation, the company decided since September 12, 2021, the MDI distribution market listing price adjustment to 35,000 yuan / ton; polymerization MDI direct market listing price and pure MDI listing price remains unchanged.

Chitosan oligosaccharide

Affected by this, Wanhua Chemical once again soared 7.28%. Since February last year, Wanhua Chemical as MDI’s leading shares, the stock has risen more than 4 times.

It is understood that access to the traditional season in September, the domestic Wanhua Chemical, three links chemical and so on that supply tight, affected by this, the domestic polymer MDI market continued to rise. The latest price index for MDI September 12 is 2649.23, up 7.81%, which is already rising for 12 consecutive days. Compared with the August 25 price index of 1847.08, the cumulative gain of 12 trading days is as high as 43.43% %.

It is reported that the reasons for the continuous MDI price increases, on the one hand due to the domestic polymerization MDI manufacturers continue to tighten the ship, coupled with the Wanhua listed on the rise, the industry fried up mentality diminished, brokers low prices reluctant to sell the newspaper steadily higher.

On the other hand, Hurricane Harvey has led to 24% of the US oil refining capacity shut down and more than 1/3 of the short-term production capacity of chemical products, resulting in US exports to reduce chemicals.

In addition, the Japanese Dong Cao 200,000 tons / year MDI device will begin on September 10 maintenance, Germany Kesi Chong Brender Billy MDI device has been on September 1 parking maintenance, which have exacerbated the tight supply of the market atmosphere.

Sodium Molybdate

CICC believes that Kesi create 300,000 tons of MDI device due to hurricane production, is expected to support MDI prices remain high. Recommended Wanhua Chemical, the proposed focus on satellite petrochemical (002648, clinics) and so on.

Societe Generale Securities (601377, clinics), said Wanhua Chemical Company raised the listing price of the distribution market to the market price, while the direct market price steady, mainly to limit the dealer hoard goods to sell, to suppress speculation; this August After the company for the second time in the month raised its dealer listing price. And Wanhua also decided to postpone the installation of Ningbo equipment to increase supply to stabilize the market price, maintain the healthy and orderly development of the industry. Maintain “buy” investment rating.

Societe Generale further pointed out that since the third quarter of this year, MDI prices continue to strengthen; the current aggregate MDI prices have been refreshed since 2005, the highest in history, pure MDI prices are close to the first half of this year’s high, MDI products overall profitability. We analyze the downstream peak season to promote the growth of demand, and overseas equipment, more than repair and force majeure, lack of comprehensive domestic product supply, cargo prices Yang Yang situation will continue. Wanhua Chemical, as the world’s largest MDI manufacturer, has a strong advantage and has continued to expand overseas markets in recent years. It is expected that the competitive advantage of its MDI business market will continue and the profit will be at a good level.

New era of securities also believe that Wanhua chemical prices sharply higher than expected, the demand season boost the market. Last week, the company said that in order to ensure the supply of the market and postponed the maintenance plan in November time, this time a substantial increase in September MDI distribution listing price (6500 yuan / ton price adjustment market expectations), the market supply level continued to tight; MDI East China market offer last week from 30,750 yuan / ton rose sharply to 35,750 yuan / ton, the industry stocks low, the market spot shortage. MDI market supply shrinkage significantly, 9,10 month market demand season will continue to maintain a tense situation.

Manganese Sulfate

Venezuelan state oil company default is inevitable

With Venezuela’s economic dilemma, Venezuelan state oil company PDVSA, the country’s largest foreign exchange source is also plunged into a debt default. By October and November 2017, PDVSA had a $ 3.2 billion debt due, but its cash was insufficient, plus the United States increased support for Venezuela, and the default became inevitable.

Gamma-PGA (gamma polyglutamic acid)

Venezuelan oil company (PDVSA) default seems to have been inevitable, which the global crude oil market, is a big heavy event.

For Venezuela, increasing crude oil production is a solution to the crisis. Since 2005, the country has planned to increase its crude oil production to 500 million barrels / day, but this goal has not been achieved. In the first seven months of 2017, the country’s average crude oil production was only 1.7 million barrels per day.

In contrast, the United States, in the past five years dependent on a large number of small-scale private shale oil companies, its crude oil production from 4.3 million barrels / day increased to 950 million barrels / day, Venezuela if the same approach, the output increased to 250 Million barrels / day is entirely possible, but it requires the government’s protection of private enterprises and political stability.

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