1. Saudi oil prices skyrocketed when the oil field was attacked, and a series of chemicals such as pure benzene rose.

 

On September 14, 2019, Saudi Aramco oil field was attacked by UAV, resulting in a sharp reduction of 5.7 million barrels of oil per day, close to 6% of global oil production. Affected by this, WTI surged more than 15% after the opening of the electronic trading system of the New York Mercantile Exchange on Sunday night EDT, and Brent crude oil futures rose nearly 19% after the opening, the largest percentage increase in more than 30 years.

 

The sharp rise in crude oil led to the rise of a series of chemicals, the positive growth of the pure benzene industry chain led to the rapid increase in the negotiation price, breaking through the prediction of the high level of the previous industry.

 

2. In the “321″ water incident, under the pressure of environmental protection, the start-up of the terminal resin and intermediate industry declined sharply, and the raw materials declined significantly.

 

3.21 there was a huge explosion in Xiangshui chemical industry park, 3.25 in Yantai, Shandong Province. 3.29 in Qingzhou, Shandong Province. 3.31 in Kunshan, Jiangsu Province, there was a metal container explosion. Accidents occurred frequently in chemical enterprises. The chemical renovation actions of local governments were launched one after another. On April 4, the Standing Committee of Yancheng Municipal Committee held a meeting and pointed out that Xiangshui chemical industry would be shut down completely Park. Due to the influence of chemical renovation in various regions, the downstream phenolic resin, pesticide intermediates and other enterprises are limited to start work as a whole, and some small and medium-sized enterprises are facing elimination.

 

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3. The final result of phenol antidumping announced that the structure of source country had been adjusted

 

Ministry of Commerce issued announcement No. 29 of 2019 on September 3, announcing the final ruling on the anti-dumping investigation of imported Phenol originating in the United States, EU, South Korea, Japan and Thailand. The final ruling was that there was dumping of imported Phenol originating in the United States, EU, South Korea, Japan and Thailand, the domestic industry suffered substantial damage, and there was a causal relationship between dumping and substantial damage. The decision was made since September 2019 From June 6, the anti-dumping duty on phenol imported from the above countries (regions) will be levied at the rate of 10.6% – 287.2%, with a period of 5 years.

 

Because of the high anti-dumping duty on American goods, American goods basically bid farewell to China’s spot market. In the non investigated countries, imports from Saudi Arabia increased significantly, becoming the main channel of phenol import in China in recent months.

 

4. The anti-dumping duties on bisphenol A imported from Japan, South Korea, Singapore and Taiwan will be continued.

 

On August 29, the Ministry of Commerce issued announcement No. 36 of 2019. Since August 30, 2019, the anti-dumping duty on bisphenol A imported from Japan, South Korea, Singapore and Taiwan will continue to be imposed for 5 years. As the anti-dumping duty rate of bisphenol A is the same as that in the earlier stage, the market response to this delay is flat.

 

5. From November 21, 2019, no anti-dumping duty will be imposed on the import of methyl ethyl ketone originating in Japan and Taiwan.

 

Ministry of Commerce announced on November 20, 2019 that it decided to terminate the anti-dumping final review investigation on the import of MEK originating in Japan and Taiwan. Since November 21, 2019, the anti-dumping duty on the import of MEK originating in Japan and Taiwan will no longer be imposed. After the termination of the anti-dumping policy, it is expected that the market level of butanone in China will be limited.

 

6. Butanone rose 35.64% in the first half of September 2019.

 

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The supply is insufficient. In September, most of the factories are seriously short of inventory, and there is a shortage of spot goods. The prices quoted by factories and dealers are pre-sale prices two weeks later. The shortage of butanone market is serious and is expected to last for some time. The factory mentality is rising, and traders take the opportunity to report higher. According to the data monitoring of business association, as of September 12, according to the comprehensive quotation of several mainstream regions, the overall average price of butanone market is around 9133 yuan / ton, which is 2400 yuan / ton higher than that of September 1, with an increase rate of 35.64%.

 

7. The acetone market rose by 50% in November 2019.

 

In November, the domestic acetone market was crazy. In only one month, the acetone market (East China market as an example) rose by 2000 yuan / ton. According to the monitoring data of the business agency, the East China market rose by 50%. The main reason for the sharp upward trend is the sharp contradiction between supply and demand, low port inventory, and good demand for new downstream devices. However, the upward trend has brought pressure on downstream factories, resulting in a sharp drop in profit value. By the end of the month, some end products were in a loss state.

 

8. VAT reduced to 13%.

 

On March 21, the Ministry of finance, the State Administration of Taxation and the General Administration of Customs jointly issued the announcement on policies related to deepening the reform of value added tax, announcing the unprecedented reduction of value-added tax rate this year, which officially opened on April 1. According to the announcement, from April 1, when general VAT taxpayers conduct VAT taxable sales or import goods, if the original 16% tax rate is applied, the tax rate will be adjusted to 13%; if the original 10% tax rate is applied, the tax rate will be adjusted to 9%. Due to the reduction of value-added tax rate, the cost of commodity price is lower than that of the previous period, among which the ex factory price of industrial products is lower, the cost of customs clearance of imported goods is lower, the cost of receiving goods of downstream enterprises is lower, and the production profit of downstream enterprises is improved.

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