In March, BCI value and coating purchasing cost index both decreased
Hits: 3892218
2020-04-07
According to the coating procurement cost index of the Institute of chemical and plastic research, the index in March 2020 was 85%, down 9% on a month on month basis. Due to the spread of the epidemic and the collapse of crude oil, the price of most raw materials such as toluene and resin dropped sharply, which dragged down the coating procurement cost index. Compared with the same period of last year, the procurement cost index of coatings fell by 13 percentage points year on year, and the price of raw materials for coatings fell to a low level in nearly 20 years. At present, the bulk chemical products market presents a weak pattern. The global epidemic has exploded, and the oil demand caused by the economic recession has been sharply reduced, which makes the crude oil price center fall. The strong production increase plans of Saudi Arabia and other countries have led the global oil market into a serious oversupply. Meanwhile, the emergency monetary policy and excessive intervention of central banks have also catalysed the fear. Under the double pressure of price war and epidemic situation, the price of international crude oil futures has been cut back. In March, the global market fell in a blood avalanche, the multi-national stock market triggered a circuit breaker, the chemicals market fell under pressure, and some product prices hit a record low. In the first quarter, BCI fell sharply to -0.88. From the historical data, the BCI value in January was still above the baseline. According to the previous start-up of enterprises and factories after the Spring Festival, the chemical market faced a peak of procurement. However, affected by the epidemic this year, February did not usher in the traditional peak of procurement. Especially in March, the international crude oil slump dragged down the global chemical market, and in March, the BCI index fell to the lowest in history. According to the data of representative bulk chemicals monitored by the Research Institute of chemical and plastics, in March, only three varieties rose this month, and 47 products fell. The isopropanol with the highest increase was affected by the spread of the European epidemic, the explosion of disinfection demand, and the biggest price increase in March. Due to the restriction measures adopted by most foreign countries to reduce the supply of crude and Refined Glycerin, and the low price of crude oil also makes the competitiveness of biodiesel greatly reduced. The output of crude glycerin, a byproduct of crude and Refined Glycerin, is greatly reduced. Due to the tight supply of crude and Refined Glycerin and the continuous increase of price, the price of domestic imported glycerin is greatly increased, and the price of domestic glycerin is correspondingly higher. At present, the global epidemic prevention and control situation is still severe, and the impact on the real economy is also continuing. Affected by the global epidemic, some energy agencies have sharply reduced the global oil demand expectations of the short and medium-term, and more seriously, the global oil storage space is being exhausted. With the further spread of the global epidemic, the oversupply of the oil market will continue. The short-term global monetary and fiscal policy's boost to the risk market is difficult to benefit the crude oil market. The panic mentality caused by the fluctuation of crude oil price continues to pressure the bulk market, but at present, chemicals are generally at a low level. In the later stage, with the promotion of domestic resumption of production, some chemical markets may have a narrow correction recovery. How to quickly resume sales and improve sales in the "post epidemic era"? How to achieve accurate advertising and effective customer touch? The marketing and promotion solutions for the "contactless" products of purchasing plastics are sufficient / no / out / home / business / machine / from / to