BEIJING, March 9 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports on the price situation for chemical products in 2010.
Throughout February, the market prices for items on the chemical products list have shown a steady increase. Of 45 chemical products tracked, 32 types, or 71.1%, showed a trend of price increases. Six in February had flat prices, accounting for 13.3% of the total number of products, while just 7 products, 15.6%, showed any decline. Of those products with price drops, the declines were small. Cyclohexanone prices fell 9.23%, while no other products dropped more than 5%.
With only 15.6% of products tracked showing any price drops, overall the February chemical product market was very good. Furthermore, there are indications of industry recovery. This can be seen in two ways: First, through the increase in downstream industry chain demand; and second, through the positive development of the industry chain as a whole. For these reasons, the chemical industry should be given high priority.
The main trends of chemical products have the following characteristics:
First, obvious rising trend, but varied reasons
The 32 products that had price increases in February did so for three main rising reasons: First, raw materials costs are rising seriously. Supplies of source products and raw materials such as DOP, DOP, octanol have tightened causing prices to rise; octanol from 12.2 thousand yuan/ton at the beginning of the month has soared 14.6 thousand yuan/ton at the end of the month -- an increase of nearly 20%. Raw materials prices pushed up causing serious downstream DOP to rise sharply; DOP price have risen 11.54% this month, firmly installed in the table or the top spot. Sulfur, for example, rose 8.7% this month because international sulfur prices continued to rise. Second, good policy support has caused tight product supplies. The most prominent representative of products in this category is phenol, which increased 6.79% this month.
Second, the low demand
In February seven products that showed a declining trend, accounting for 15.6% of the total products monitored. Overall, the decline was mainly due to weak demand of the products around the Spring Festival, or Lunar New Year holiday, which led to companies operating at lower productivity rates. As a result, the market for these products was weak, showing a small decrease. Representative products cyclohexanone and crude benzene, cyclohexanone declined 9.23%, which also was largely due to Chinese New Year holiday period. Downstream companies stopped purchasing cyclohexanone so demand was not strong, resulting in market weakness, so prices fell slightly.
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