On the early morning of June 9th, domestic refined oil prices were lowered by 530 yuan/ton for gasoline and 510 yuan/ton for diesel; Equivalent to a price increase of 0.38 yuan/liter for 93 # gasoline and 0.43 yuan/liter for 0 # diesel.
The flat pattern of domestic refined oil has led to a decline in C5C9 prices, with a cumulative decline of around 1200 yuan/ton from May to June. The terminal market has experienced a significant decline in trading volume due to the continuous decline in raw material prices. According to statistics, currently all companies have inventory, and around 50% of them are in low mood for intermediaries and terminals to receive goods. Moreover, with the confirmation of product oil price adjustments, there is still room for C5C9 prices to decline. Therefore, terminals will not change their on-demand procurement in the short term, and their wait-and-see mentality will continue.
On the one hand, the prices of substitute rosin and rosin resin have declined. At present, although the main product has experienced a decrease in resin production due to cloudy and rainy weather, the accumulated inventory of rosin last year and the gradual launch of new rosin this year have led to doubts about the overall quality of rosin. In addition, with the deepening of the European debt crisis, slow economic recovery in the United States, and a soft landing in the domestic economy, macro factors have also led to weak demand for petroleum resin at the terminal, and foreign trade companies have frequently lowered their prices. So the price of petroleum resin continues to decline, and it is self-evident that the price of petroleum resin is under pressure.
From last year's statistics on the expansion of petroleum resin plants, it can be seen that there has been a growth rate of about 10% this year. However, facing the pressure of national macroeconomic policies and the slowdown of economic growth, there are many new installations and construction delays or suspensions, and ethylene construction is lagging behind. The slowdown in raw material construction has to some extent suppressed the expansion of petroleum resin production capacity. The operation of C9 petroleum resin plants is not stable, and in terms of C9 petroleum resin, The reduction of devices in Weifang and other places is hindered, but the expansion and reduction of devices cannot save the market from downturn.
On the other hand, maintenance plans for various devices are frequent. From this year's petroleum resin maintenance plan, it can be seen that the construction of C9 petroleum resin enterprises is around 70-80%, and C9 petroleum resin is around 50%. However, it has not driven the overall downward trend of the market, and the overall effect is very small.
This situation has seriously affected the development of the downstream market of petroleum resin, and there have been significant fluctuations in the development of the domestic petroleum resin industry. At present, domestic petroleum resin enterprises are experiencing a "cold winter" of raw material shortage and market weakness, and the key to breaking through the industry's development status lies in the research and production of high-end products, which will drive the overall development of the petroleum resin industry. Petroleum resins play an important role in many fields. In the paint industry, the use of petroleum resin can increase the glossiness of paint, improve its film adhesion, hardness, acid resistance, alkali resistance, and water resistance, and effectively reduce production costs; In the coating industry, petroleum resin can improve the UV resistance and weather resistance of coatings, as well as enhance wear resistance and water resistance, thus having a huge market demand for petroleum resin. However, what is not in line with the huge market demand is the serious homogenization of petroleum resin products, and low-level repetitive construction has become an important factor restricting the development of the industry. In this context, the petroleum resin industry urgently needs industrial transformation to produce and develop products with high added value and high technological content. From the current development perspective, this depends on the joint efforts of the entire industry, and at this time, the Internet has become a link that tightly connects enterprises.
There are two common understandings in the industry on how to develop high-end products: firstly, to increase investment in technology research and development; secondly, to strengthen cooperation between industries, and the second point is particularly important. From the perspective of considering the overall situation of the industry, various production enterprises must strengthen cooperation. Real time communication and sharing of development experience through online platforms will help a group of enterprises with strong production and capital strength rise vigorously, thereby driving the development and growth of China's petroleum resin industry in the international market. After the successful development of high-end products, the Internet will also become the best platform for promoting new products. The strong dissemination and publicity effect of the Internet will open up the widest online market for the petroleum resin industry. Wang Zhongmin said that in the current situation of severe homogenization of petroleum resin products, the Internet can also become a powerful tool for digesting homogeneous products. Although the petroleum resin industry is small, the widespread homogenization has led to a trend of overcapacity in the industry. Especially for a group of established petroleum resin enterprises, they are already threatened by domestic and foreign enterprises with new equipment and advanced technology. Opening up new markets has become the most urgent demand, and this should also rely on the Internet.
Nowadays, the Internet has become the most powerful force that changes society. In order for traditional industries such as petroleum resin to catch up with the rapid development, they must actively connect with the internet. This is a trend of the times and an excellent opportunity for traditional industries to achieve industrial transformation.
At present, the domestic economic growth rate is slowing down, and the country has released economic stimulus signals such as lowering interest rates. Some areas of the real estate market have rebounded, which may play a positive role in promoting the petroleum resin market. The country will further loosen its grip on the real estate market, causing prices to rebound or move forward in twists and turns. The demand in the end market may drive some chemical products that can be traced back to the source. The petroleum resin market is still dependent on the national economic engine, and the improvement of the market will dominate the future trend of the petroleum resin market.
