Main points:
Low cost investment and systematic expansion of chemical industry. The next industrial pattern of chemical industry depends on talent competition. The chemical industry has changed from a simple capital intensive industry to a talent and capital intensive industry. The latecomers can't surpass the capital and can only stare at the latecomers. Therefore, the periodicity of the chemical industry becomes weaker. With effective incentives, excellent management and continuous innovation, excellent companies have created unshakable advantages in technology iteration, low cost and efficient service, and have conquered cities and occupied land in the global market.
Carbon neutralization may bring disruptive changes and opportunities to the chemical industry
Carbon neutralization has a far-reaching impact on the chemical industry. According to npcpi statistics, the carbon emissions of China Petroleum & Chemical Corporation(600028) and basic chemical industry rank first among all industries, accounting for about 18% of the total national carbon emissions, of which "process carbon emission" accounts for about 6% and "engineering carbon emission" accounts for about 12%, which is greatly affected by the 3060 carbon neutralization target. From the perspective of industry evolution, we believe that the chemical industry is expected to go through three stages in the context of carbon neutrality in the next 40 years:
The first stage is to reach the peak step by step. There are many chemical products. The energy consumption and carbon emission of each product are different, and its carbon peak requirements may be different. We understand that high energy consuming products or industries do not mean that there is no development, but will give priority to reaching the peak, and low energy consuming products or industries are expected to obtain a longer growth window;
In the second stage, the future competition will be downstream and overseas. With the carbon peak, the upstream bulk raw materials of China's chemical industry hit the ceiling due to relatively high energy consumption, but without a large amount of new production capacity, the profit center has increased significantly. The huge cash flow obtained by large chemical enterprises may be invested in the field of downstream fine chemicals and new materials, or continue to expand the production capacity of similar products, Just transfer the new capacity to countries or regions with greater carbon capacity. In the second stage, chemical enterprises may face large-scale technological transformation of public works, and use green energy alternatives to reduce energy consumption, so as to reduce the tax costs related to carbon neutralization;
The third stage is the era of bio based materials and energy. Chemical products are closely related to people's lives, and the demand will not disappear because of policies. However, under the goal of carbon neutralization, fossil based materials may face disruptive impact locally. Bio based materials are a possible alternative / supplement. With the decline of the cost of bio based materials, the rise of the cost of fossil based materials (the increase of carbon emission taxes), and the breakthrough of bio based materials of "non grain" raw materials, bio based materials are expected to become a new bottom material for global industry.
It is worth emphasizing that the above is the idea of industry evolution for 40 years. 3060 mainly affects the ceiling of long-term high energy consuming products or industrial development, and has little impact on the approved planning projects. In addition, a series of operable policies will evolve under the 3060 goal. With the implementation of specific policies and the breakthrough of new technologies (including synthetic biology, new energy storage technology, new nuclear power technology, new recycling technology, etc.), the three stages we understand may also be staggered.
Industry maintenance:
[petrochemical sector]
Pure benzene: the production capacity under maintenance this week was 658400 tons, 35000 tons less than last week.
Toluene: the production capacity in the maintenance state this week was 641000 tons, 30000 tons less than last week.
Propylene: the production capacity under maintenance this week was 7.81 million tons, an increase of Shanghai Pudong Development Bank Co.Ltd(600000) tons over last week.
Butadiene: the total capacity under maintenance this week is 330000 tons, 160000 tons less than last week.
Isobutylene: there is no production capacity under maintenance this week, which is the same as last week.
Bisphenol A: the production capacity under maintenance this week was 480000 tons, the same as last week.
PX: the production capacity under maintenance this week was 3.045 million tons, Shanghai Pudong Development Bank Co.Ltd(600000) tons less than last week.
PTA: the production capacity under maintenance this week was 22.97 million tons, an increase of 2.5 million tons over last week.
Acrylic acid: the production capacity under maintenance this week was 240000 tons, the same as last week.
Butyl acrylate: it is under maintenance this week, with a total capacity of 400000 tons, the same as last week.
Propylene oxide: the production capacity under maintenance this week was 1.795 million tons, an increase of 285000 tons over last week.
[coal chemical sector]
Ethylene glycol: the production capacity under maintenance this week was 9.378 million tons, 900000 tons less than last week.
Acetic acid: the production capacity under maintenance this week was 6.31 million tons, the same as last week.
Acetic anhydride: the production capacity under maintenance this week was 310000 tons, the same as last week.
Adipic acid: the production capacity under maintenance this week was 915000 tons, the same as last week.
DMF: the production capacity under maintenance this week is 70000 tons, the same as last week.
[polyurethane sector]
MDI: the production capacity under maintenance this week was 1.67 million tons, the same as last week.
TDI: the total production capacity under maintenance this week was 2.237 million tons, the same as last week.
[chemical fiber sector]
Polyester chip: the production capacity under maintenance this week was 100000 tons, the same as last week.
Polyester bottle chip: the production capacity under maintenance this week is 3.35 million tons, 200000 tons less than last week.
Polyester staple fiber: the production capacity under maintenance this week was 2.57 million tons, an increase of 400000 tons over last week.
Polyester filament: the production capacity under maintenance this week was 139182 million tons, an increase of 100000 tons over last week.
Nylon slicing: there are 2 companies in maintenance this week, the same as last week.
[pesticide and fertilizer sector]
Synthetic ammonia: a total of 66 companies were under maintenance this week, one less than last week.
Multi dimensional tracking of key companies
\u3000\u30 Shanxi Huhua Group Co.Ltd(003002) 85
Industry information:
According to the State Patent Office, Shandong Sinocera Functional Material Co.Ltd(300285) 0 new patents were published this week.
Company information:
On March 10, the company issued an announcement on adjusting the organizational structure of the company Shandong Sinocera Functional Material Co.Ltd(300285) held the 24th Meeting of the 4th board of directors on March 8, 2022, deliberated and adopted the proposal on adjusting the organizational structure of the company. According to the needs of the company's strategic layout and business development, while further improving the corporate governance structure and improving the company's management level and operation efficiency, the board of directors agreed to adjust the overall organizational structure of the company and establish a new energy division and a precision ceramics division.
On March 10, the notice on convening the 2021 annual general meeting of shareholders was issued. According to the resolution of the 24th Meeting of the 4th board of directors held on March 8, 2022, the company decided to hold the 2021 annual general meeting of shareholders on Monday, April 11, 2022. This general meeting of shareholders adopts the combination of on-site voting and online voting. The company will provide all shareholders with a voting platform in the form of network through the trading system of Shenzhen Stock Exchange and the Internet voting system, and the shareholders of the company can exercise their voting rights within the above online voting time.
On March 10, an announcement was issued on the use of some idle raised funds for cash management Shandong Sinocera Functional Material Co.Ltd(300285) held the 24th Meeting of the 4th board of directors and the 23rd Meeting of the 4th board of supervisors on March 8, 2022, deliberated and adopted the proposal on using some idle raised funds for cash management respectively, and agreed that the company would use no more than 200 million yuan of temporarily idle raised funds for cash management without affecting the normal progress of investment projects of raised funds, The investment products with high safety and good liquidity are planned to be purchased, and the service life is within 12 months from the date of deliberation and approval by the board of directors.
On March 10, an announcement was issued on carrying out foreign exchange derivatives trading business. The amount of foreign exchange derivatives trading business to be carried out by the company is US $100 million or other equivalent foreign currencies, and the use period of the amount is within 12 months from the date when the matter is deliberated and approved at the 24th Meeting of the Fourth Board of directors. The above quota can be used circularly and rolling within the term, but the cumulative balance at any time point within the term shall not exceed US $100 million or other equivalent foreign currencies.
On March 10, the announcement on providing bank credit guarantee for wholly-owned subsidiaries and holding subsidiaries was issued Shandong Sinocera Functional Material Co.Ltd(300285) the 24th Meeting of the 4th board of directors and the 23rd Meeting of the 4th board of supervisors deliberated and approved the proposal on providing bank credit guarantee for wholly-owned subsidiaries and holding subsidiaries in order to meet the capital needs of production, operation and development of wholly-owned subsidiary Prince ceramics and holding subsidiary guoci kanglitai The holding subsidiary provides bank credit guarantee, with the total amount of guarantee not exceeding 150 million yuan.
On March 10, an announcement on changing the purpose of the raised funds was issued Shandong Sinocera Functional Material Co.Ltd(300285) held the 24th Meeting of the 4th board of directors and the 23rd Meeting of the 4th board of supervisors on March 8, 2022, deliberated and adopted the proposal on changing the purpose of raised funds, It is agreed to use RMB 200 million raised from the "industrialization project of high-performance rare earth functional materials with an annual output of 3000 tons" for the first phase of the "industrialization project of boehmite high-end materials for lithium battery diaphragm with an annual output of 100000 tons".
On March 10, the announcement on the proposed renewal of the accounting firm was issued Shandong Sinocera Functional Material Co.Ltd(300285) held the 24th Meeting of the 4th board of directors on March 8, 2022, deliberated and approved the proposal on the proposed renewal of Lixin Certified Public Accountants (special general partnership) as the company's audit institution in 2022, and it is proposed to continue to employ Lixin Certified Public Accountants (special general partnership) as the company's audit institution in 2022. Price information:
The average price of titanium dioxide (rutile, China) this week was 19720 yuan / ton, up 0.10% month on month, with a historical quantile of 72%; The price difference of rutile titanium dioxide this week was 17720 yuan / ton, with a month on month increase of 0.11% and a historical quantile of 84%.
\u3000\u3 Jointo Energy Investment Co.Ltd.Hebei(000600) 309
Company information:
On March 9, the company released its 2021 annual performance express. In 2021, it is expected to achieve an operating revenue of 145.54 billion yuan, a year-on-year increase of 98.2%, and a net profit attributable to the parent company of 24.65 billion yuan, a year-on-year increase of 145.5%. Among them, 2021q4 company is expected to achieve a revenue of 38.22 billion yuan, a year-on-year increase of 57.9% and a month on month decrease of 3.6%; The net profit attributable to the parent company was 5.11 billion yuan, a year-on-year increase of 8.9% and a month on month decrease of 15.0%.
Industry information:
According to Baichuan Yingfu, the situation of MDI device has not changed this week and continues the situation of last week: Wanhua baoside, which is in shutdown due to force majeure, has resumed the operation of its 350000 T / a MDI device. In addition, the 400000 T / a MDI unit of Ningbo Wanhua phase I started shutdown and maintenance on November 27, and gradually recovered in the near future; Phase II 800000 T / a equipment will be shut down for maintenance on December 11, and the maintenance is expected to take 45 days.
MDI: the production capacity under maintenance this week was 1.67 million tons, the same as last week. According to Baichuan Yingfu, all manufacturers have no new maintenance plan this week.
According to the State Patent Office, Wanhua Chemical Group Co.Ltd(600309) this week, 22 new patents were published. A preparation method 2? Method for preparing ethyl hexanal; The invention relates to a preparation method, reverse osmosis membrane and application of high-performance polyolefin base reverse osmosis membrane; The invention relates to a method for preparing citronellol by hydrogenating citral; A preparation method of low odor polymer latex; A method for preparing isocyanate; A preparation method of unsaturated ketone; The invention relates to an acrylic ester and acrylamide grafted polytetrafluoroethylene and a high gloss mirror wear-resistant and flame-retardant polycarbonate material; A preparation method of polybutadiene latex; A quick drying waterborne acrylic polymer emulsion and its preparation method and application; An energy-saving process for preparing aniline by liquid phase hydrogenation of nitrobenzene; The invention relates to a high-throughput reverse osmosis membrane and a preparation method and application thereof; The invention relates to a polyurethane lubricant and a preparation method and application thereof; A preparation process of epoxy modified reverse osmosis membrane, reverse osmosis membrane and its application; A 4? Preparation method of hydroxybutyraldehyde; An amine chain extender and its preparation method and polyurethane foam; A high pressure hydrogen drainage device; The invention relates to a silane modified polyacrylate sealant and a preparation method thereof; The invention relates to a precursor of high nickel ternary cathode material and a method for controllable growth of its crystal surface, ternary cathode material and lithium ion battery; A preparation method of naphthoquinone epoxy compound; A gas distributor and its application in HCl oxidation fluidized bed; The invention relates to a silicon bromine synergistic flame retardant and a preparation method thereof, a thermoplastic polyurethane elastomer and a preparation method thereof; The invention relates to a special material for pressure pipe, high-density polyethylene resin and a preparation method thereof;
Price information:
The average price of polymerized MDI (East China) this week was 19114 yuan / ton, down 2.19% month on month, with a historical quantile of 32%; The average price of pure MDI (East China) this week was 24529 yuan / ton, down 1.18% month on month, with a historical quantile of 48%; The average price of soft foam polyether (East China) this week was 13314 yuan / ton, with a month on month increase of 8.12% and a historical quantile of 43%; The average price of hard foam polyether (East China) this week was 11779 yuan / ton, up 4.10% month on month, with a historical quantile of 51%; The average price of propylene oxide (East China) this week was 12393 yuan / ton, up 4.58% month on month, with a historical quantile of 44%; The average price of butyl acrylate (East China) this week was 15800 yuan / ton, with a month on month increase of 4.08% and a historical quantile of 73%; The average price of MTBE (98%, China) this week was 5745 yuan / ton, down 1.63% month on month, with a historical quantile of 40%; The average price of PC (General Motors, China) this week was 22640 yuan / ton, up 1.62% month on month, with a historical quantile of 40%.
The price difference of East China polymerized MDI this week was 13413 yuan / ton, down 5.39% month on month, with a historical quantile of 28%; The price difference of pure MDI in East China this week was 18828 yuan / ton, down 3.23% month on month, with a historical quantile of 45%; The price difference of propylene oxide this week was 3233 yuan / ton, with a month on month increase of 2.31% and a historical quantile of 21%; The price difference of PC this week was 7169 yuan / ton, up 1.53% month on month, with a historical quantile of 33%; The price difference of hard foam polyether this week was 1864 yuan / ton, down 1.64% month on month, with a historical quantile of 52%. Overseas competition
BASF
March 7 - Ludwigshafen, Germany, Quebec, Canada, March 4, 2022 - as part of its commitment to support North American manufacturers in their transition to electric transport, BASF signed a land purchase agreement to prepare for the future construction of a cathode active material and recycling base in becankul, Quebec, Canada. Regional supply chain is very important to ensure the reliable and flexible supply of battery materials.
[kostron]
March 8 - costron, Huafeng Textile Technology Company and cyclone, a green fiber technology company from China, jointly developed a solution to produce high-quality running and sports shoes in a more sustainable way than ever before: by cyclone ® The recycled fabric made of recycled polyester (RPET) yarn is used as upper and uses Huafeng haptic ® Technology for selective coating. In this process, Huafeng used keschuang insqin ® Half of the carbon content of polyurethane (PU) dispersion in the product portfolio comes from bio based raw materials. The greenhouse gas emissions per pair of shoes produced in this way are about 230 grams of carbon dioxide equivalent less than those using traditional fossil based PU dispersion and original PET fabric.
\u3000\u3 China Vanke Co.Ltd(000002) 597
Price information:
In February, Anhui Jinhe Industrial Co.Ltd(002597) sucralose was quoted at 45
