On July 27, the China Petroleum and Chemical Industry Federation released data on the economic operation of the industry in the first half of this year. Report on the operation of the industry in the first half of the year and related data released in the report, Li Yongwu, President of the China Petroleum and Chemical Industry Federation, Zhu Wei, Deputy Director of the Market and Information Department, Qin Zhiqiang, President of the Jiangsu Chemical Industry Association, and Planning of the Xinjiang Petrochemical Industry Management Office In an interview with the reporter, Ren Yongzheng, director of the Development Department, said that both the chemical industry in the country and the chemical industry in provinces, regions, and municipalities have achieved rapid development in the first half of the year, but problems that have not been resolved in the development and new issues that have emerged have been solved. Still restricting the healthy development of the industry.
The "Not Expected" report card, Chairman Li Yongwu, analyzed two aspects of the industry's economic performance in the first half of the year: "The unexpectedly rapid growth in the total output value of the industry was not expected, and the company's performance was so good that it did not anticipate .
The two groups "unexpected" data are as follows:
The first is the growth rate of the industry. From January to June, the total output value of enterprises above designated size in the industry reached 5.32 trillion yuan, an increase of 34.4% year-on-year, which was 5 percentage points faster than the average national industrial growth rate, and accounted for 13.4% of the country's total industrial output value. In particular, in June, the total output value of the industry for the first time exceeded 1 trillion yuan for the first time, reaching 1.02 trillion yuan.
The second is the degree of profitability in the industry. From January to May, the accumulative total profits of enterprises above designated size in the industry totaled 356.303 billion yuan, a year-on-year increase of 32.2%, which was 4.3% faster than the average growth rate of industrial profits nationwide, and accounted for 18.5% of the country's total industrial profits. Among them, the chemical industry realized a profit of 156.23 billion yuan, a year-on-year increase of 55.8%, accounting for 43.88% of the total industry's total profit, and it was even faster than the national average growth rate of industrial profits.
Regarding these two "unexpected" data, Zhu Sheng told reporters that the main benefit was due to the sharp rise in the prices of downstream petrochemical products driven by the rise in international crude oil prices, especially in the second quarter. Therefore, not only the total output value of the entire industry has grown rapidly, but also the profitability of the company has increased significantly. The rise in the prices of major chemical raw materials led by crude oil in this round was caused by the impact of a series of international events such as the political turmoil and war in the Middle East and North Africa, the escalation of the Japan earthquake, the debt crisis in Europe, and the quantitative easing monetary policy of the Federal Reserve. These factors are often unexpected.
The petrochemical federation's market monitoring data showed that in the first half of the year, the prices of major chemical fertilizer varieties generally rose. In June, the average price of diammonium phosphate was 3480 yuan/ton, up by 2.1% from the previous month and up 22.1% year-on-year; the average price of monoammonium phosphate was up by 4% from the previous month, up by 4% from the same period of last year; it was up 38% year-on-year; the average price of domestically produced potassium chloride was 3160 yuan. RMB/ton, which was 6% higher than the previous period and 23.9% year-on-year; the average price of 45% chlorine-based compound fertilizer was 2,530 yuan/ton, which was 5% higher than the previous month and 27.8% year-on-year.
The price of basic chemical raw materials also rose rapidly, especially in the second quarter. In June, the average price of ** (98%, clean water) market was 620 yuan/ton, a record high this year, up 12.7% month-on-month, and up 72.2% year-on-year; average price of caustic soda (carnitine, ≥96%) was 3020 yuan/ Ton, up 1.3% month-on-month, up 46.6% year-on-year, and up 10% month-on-month; the average price of soda ash (heavy ash) was 2,100 yuan/ton, up 6.1% month-on-month and 35.5% year-on-year; the average price of calcium carbide was 4,300 yuan/ton. This year hit a new high, up 0.9% qoq and up 25.7% year-on-year.
Several highlights are worth remembering Although the parties concerned are cautious, this report card does have different highlights from the past.
In this report card, there are phenomena that are most representative of the technological content of the chemical industry, special chemicals and synthetic materials that have been the shortcomings of the industry in the past, which are higher than the average growth rate of the industry. According to statistics, in the first half of the year, the output value of special chemicals manufacturing industry reached 535.04 billion yuan, an increase of 42.3% year-on-year, which was 7.9 percentage points higher than the average growth rate of the industry; the output value of composite materials manufacturing industry reached 508.27 billion yuan, an increase of 36.1% year-on-year. The average growth rate of the industry was 1.7 percentage points higher than the industry average; radial tire production reached 190 million, an increase of 5.9% year-on-year, an average increase of 1.9 percentage points over the tire industry. The performance of high-end chemical products such as specialty chemicals, synthetic materials and radial tires is indeed bright.
The improvement in the structure of export products is another major highlight. For example, in the first five months of export, organic chemicals accounted for 20.8%, up 0.5% over the previous two months; inorganic chemicals accounted for 10%, up 1.2% over the previous two months; special chemicals The proportion of goods is basically stable at 11.2%. Exports of high value-added products, such as organic chemicals and synthetic materials, have been markedly accelerated, imports have decreased, and foreign dependence has declined. The proportion of synthetic resins in exports has historically exceeded 5%, reaching 5.25%. The proportion of rubber products, which have been the main export of low-end products and also the major export of chemical products, has fallen to 22.3% in the volume of export trade, down 2.7 percentage points from the previous two months.
With the increase in the volume of high-end product exports, the trade deficit in chemical products fell by 6.9% year-on-year from January to May. This shows that the chemical industry has been improving its foreign trade structure with low-end product exports and imports of high-end products.
In addition, the surge in industry investment momentum is also one of the bright spots. In the first half of this year, when the industry's main revenue and profit growth exceeded 32%, the investment in the entire industry grew by 19.8%, which was one of the lowest growth rates in the same period of history. Zhu Hao analyzed that this situation shows that in the first half of the 12th Five-Year Plan period, the economic growth mode of the oil and chemical industry has changed, and it is gradually escaping from the previous development mode that relied excessively on investment and increased its endogenous power. The path to healthy development.
The problems that existed in the past during the “protracted†and still precarious industries in the first half of the year have still not been effectively improved.
"For example, the problem of low operating rates in some industries is still serious," Zhu said. According to him, in the first half year, the operating rate of the calcium carbide plant was approximately 66.5%, the operating rate of the polyvinyl chloride plant was approximately 60%, and the operating rate of the urea plant was approximately 77.5%. Although the operating rate of caustic soda and soda ash has rebounded to reach 82% and 85%, it also faces enormous pressure for further release of production capacity.
Zhu Hao believes that the main reason for the low operating rate in these industries is still the overcapacity problem that has always existed throughout the “Eleventh Five-Year Plan†period. According to him, in 2011, caustic soda will add about 4 million tons of new production capacity, and soda ash will add about 3.4 million tons of new production capacity. Several highlights are worth remembering Although the parties concerned are cautious, this report card does have different highlights from the past.
In this report card, there are phenomena that are most representative of the technological content of the chemical industry, special chemicals and synthetic materials that have been the shortcomings of the industry in the past, which are higher than the average growth rate of the industry. According to statistics, in the first half of the year, the output value of special chemicals manufacturing industry reached 535.04 billion yuan, an increase of 42.3% year-on-year, which was 7.9 percentage points higher than the average growth rate of the industry; the output value of composite materials manufacturing industry reached 508.27 billion yuan, an increase of 36.1% year-on-year. The average growth rate of the industry was 1.7 percentage points higher than the industry average; radial tire production reached 190 million, an increase of 5.9% year-on-year, an average increase of 1.9 percentage points over the tire industry. The performance of high-end chemical products such as specialty chemicals, synthetic materials and radial tires is indeed bright.
The improvement in the structure of export products is another major highlight. For example, in the first five months of export, organic chemicals accounted for 20.8%, up 0.5% over the previous two months; inorganic chemicals accounted for 10%, up 1.2% over the previous two months; special chemicals The proportion of goods is basically stable at 11.2%. Exports of high value-added products, such as organic chemicals and synthetic materials, have been markedly accelerated, imports have decreased, and foreign dependence has declined. The proportion of synthetic resins in exports has historically exceeded 5%, reaching 5.25%. The percentage of rubber products that have been the main export of low-end products and also the major export of chemical products has fallen to 22.3% in the export volume, which is 2.7 percentage points lower than the previous two months.
With the increase in the volume of high-end product exports, the trade deficit in chemical products fell by 6.9% year-on-year from January to May. This shows that the chemical industry has been improving its foreign trade structure with low-end product exports and imports of high-end products.
In addition, the surge in industry investment momentum is also one of the bright spots. In the first half of this year, when the industry's main revenue and profit growth exceeded 32%, the investment in the entire industry grew by 19.8%, which was one of the lowest growth rates in the same period of history. Zhu Hao analyzed that this situation shows that in the first half of the 12th Five-Year Plan period, the economic growth mode of the oil and chemical industry has changed, and it is gradually escaping from the previous development mode that relied excessively on investment and increased its endogenous power. The path to healthy development.
The problems that existed in the past during the “protracted†and still precarious industries in the first half of the year have still not been effectively improved.
"For example, the problem of excessively low operating rates in some industries is still serious," Zhu said. According to him, in the first half year, the operating rate of the calcium carbide plant was approximately 66.5%, the operating rate of the polyvinyl chloride plant was approximately 60%, and the operating rate of the urea plant was approximately 77.5%. Although the operating rate of caustic soda and soda ash has rebounded to reach 82% and 85%, it also faces enormous pressure for further release of production capacity.
Zhu Hao believes that the main reason for the low operating rate in these industries is still the overcapacity problem that has always existed throughout the “Eleventh Five-Year Plan†period. According to him, in 2011, caustic soda will add about 4 million tons of new production capacity, and soda ash will add about 3.4 million tons of new production capacity.
The "Not Expected" report card, Chairman Li Yongwu, analyzed two aspects of the industry's economic performance in the first half of the year: "The unexpectedly rapid growth in the total output value of the industry was not expected, and the company's performance was so good that it did not anticipate .
The two groups "unexpected" data are as follows:
The first is the growth rate of the industry. From January to June, the total output value of enterprises above designated size in the industry reached 5.32 trillion yuan, an increase of 34.4% year-on-year, which was 5 percentage points faster than the average national industrial growth rate, and accounted for 13.4% of the country's total industrial output value. In particular, in June, the total output value of the industry for the first time exceeded 1 trillion yuan for the first time, reaching 1.02 trillion yuan.
The second is the degree of profitability in the industry. From January to May, the accumulative total profits of enterprises above designated size in the industry totaled 356.303 billion yuan, a year-on-year increase of 32.2%, which was 4.3% faster than the average growth rate of industrial profits nationwide, and accounted for 18.5% of the country's total industrial profits. Among them, the chemical industry realized a profit of 156.23 billion yuan, a year-on-year increase of 55.8%, accounting for 43.88% of the total industry's total profit, and it was even faster than the national average growth rate of industrial profits.
Regarding these two "unexpected" data, Zhu Sheng told reporters that the main benefit was due to the sharp rise in the prices of downstream petrochemical products driven by the rise in international crude oil prices, especially in the second quarter. Therefore, not only the total output value of the entire industry has grown rapidly, but also the profitability of the company has increased significantly. The rise in the prices of major chemical raw materials led by crude oil in this round was caused by the impact of a series of international events such as the political turmoil and war in the Middle East and North Africa, the escalation of the Japan earthquake, the debt crisis in Europe, and the quantitative easing monetary policy of the Federal Reserve. These factors are often unexpected.
The petrochemical federation's market monitoring data showed that in the first half of the year, the prices of major chemical fertilizer varieties generally rose. In June, the average price of diammonium phosphate was 3480 yuan/ton, up by 2.1% from the previous month and up 22.1% year-on-year; the average price of monoammonium phosphate was up by 4% from the previous month, up by 4% from the same period of last year; it was up 38% year-on-year; the average price of domestically produced potassium chloride was 3160 yuan. RMB/ton, which was 6% higher than the previous period and 23.9% year-on-year; the average price of 45% chlorine-based compound fertilizer was 2,530 yuan/ton, which was 5% higher than the previous month and 27.8% year-on-year.
The price of basic chemical raw materials also rose rapidly, especially in the second quarter. In June, the average price of ** (98%, clean water) market was 620 yuan/ton, a record high this year, up 12.7% month-on-month, and up 72.2% year-on-year; average price of caustic soda (carnitine, ≥96%) was 3020 yuan/ Ton, up 1.3% month-on-month, up 46.6% year-on-year, and up 10% month-on-month; the average price of soda ash (heavy ash) was 2,100 yuan/ton, up 6.1% month-on-month and 35.5% year-on-year; the average price of calcium carbide was 4,300 yuan/ton. This year hit a new high, up 0.9% qoq and up 25.7% year-on-year.
Several highlights are worth remembering Although the parties concerned are cautious, this report card does have different highlights from the past.
In this report card, there are phenomena that are most representative of the technological content of the chemical industry, special chemicals and synthetic materials that have been the shortcomings of the industry in the past, which are higher than the average growth rate of the industry. According to statistics, in the first half of the year, the output value of special chemicals manufacturing industry reached 535.04 billion yuan, an increase of 42.3% year-on-year, which was 7.9 percentage points higher than the average growth rate of the industry; the output value of composite materials manufacturing industry reached 508.27 billion yuan, an increase of 36.1% year-on-year. The average growth rate of the industry was 1.7 percentage points higher than the industry average; radial tire production reached 190 million, an increase of 5.9% year-on-year, an average increase of 1.9 percentage points over the tire industry. The performance of high-end chemical products such as specialty chemicals, synthetic materials and radial tires is indeed bright.
The improvement in the structure of export products is another major highlight. For example, in the first five months of export, organic chemicals accounted for 20.8%, up 0.5% over the previous two months; inorganic chemicals accounted for 10%, up 1.2% over the previous two months; special chemicals The proportion of goods is basically stable at 11.2%. Exports of high value-added products, such as organic chemicals and synthetic materials, have been markedly accelerated, imports have decreased, and foreign dependence has declined. The proportion of synthetic resins in exports has historically exceeded 5%, reaching 5.25%. The proportion of rubber products, which have been the main export of low-end products and also the major export of chemical products, has fallen to 22.3% in the volume of export trade, down 2.7 percentage points from the previous two months.
With the increase in the volume of high-end product exports, the trade deficit in chemical products fell by 6.9% year-on-year from January to May. This shows that the chemical industry has been improving its foreign trade structure with low-end product exports and imports of high-end products.
In addition, the surge in industry investment momentum is also one of the bright spots. In the first half of this year, when the industry's main revenue and profit growth exceeded 32%, the investment in the entire industry grew by 19.8%, which was one of the lowest growth rates in the same period of history. Zhu Hao analyzed that this situation shows that in the first half of the 12th Five-Year Plan period, the economic growth mode of the oil and chemical industry has changed, and it is gradually escaping from the previous development mode that relied excessively on investment and increased its endogenous power. The path to healthy development.
The problems that existed in the past during the “protracted†and still precarious industries in the first half of the year have still not been effectively improved.
"For example, the problem of low operating rates in some industries is still serious," Zhu said. According to him, in the first half year, the operating rate of the calcium carbide plant was approximately 66.5%, the operating rate of the polyvinyl chloride plant was approximately 60%, and the operating rate of the urea plant was approximately 77.5%. Although the operating rate of caustic soda and soda ash has rebounded to reach 82% and 85%, it also faces enormous pressure for further release of production capacity.
Zhu Hao believes that the main reason for the low operating rate in these industries is still the overcapacity problem that has always existed throughout the “Eleventh Five-Year Plan†period. According to him, in 2011, caustic soda will add about 4 million tons of new production capacity, and soda ash will add about 3.4 million tons of new production capacity. Several highlights are worth remembering Although the parties concerned are cautious, this report card does have different highlights from the past.
In this report card, there are phenomena that are most representative of the technological content of the chemical industry, special chemicals and synthetic materials that have been the shortcomings of the industry in the past, which are higher than the average growth rate of the industry. According to statistics, in the first half of the year, the output value of special chemicals manufacturing industry reached 535.04 billion yuan, an increase of 42.3% year-on-year, which was 7.9 percentage points higher than the average growth rate of the industry; the output value of composite materials manufacturing industry reached 508.27 billion yuan, an increase of 36.1% year-on-year. The average growth rate of the industry was 1.7 percentage points higher than the industry average; radial tire production reached 190 million, an increase of 5.9% year-on-year, an average increase of 1.9 percentage points over the tire industry. The performance of high-end chemical products such as specialty chemicals, synthetic materials and radial tires is indeed bright.
The improvement in the structure of export products is another major highlight. For example, in the first five months of export, organic chemicals accounted for 20.8%, up 0.5% over the previous two months; inorganic chemicals accounted for 10%, up 1.2% over the previous two months; special chemicals The proportion of goods is basically stable at 11.2%. Exports of high value-added products, such as organic chemicals and synthetic materials, have been markedly accelerated, imports have decreased, and foreign dependence has declined. The proportion of synthetic resins in exports has historically exceeded 5%, reaching 5.25%. The percentage of rubber products that have been the main export of low-end products and also the major export of chemical products has fallen to 22.3% in the export volume, which is 2.7 percentage points lower than the previous two months.
With the increase in the volume of high-end product exports, the trade deficit in chemical products fell by 6.9% year-on-year from January to May. This shows that the chemical industry has been improving its foreign trade structure with low-end product exports and imports of high-end products.
In addition, the surge in industry investment momentum is also one of the bright spots. In the first half of this year, when the industry's main revenue and profit growth exceeded 32%, the investment in the entire industry grew by 19.8%, which was one of the lowest growth rates in the same period of history. Zhu Hao analyzed that this situation shows that in the first half of the 12th Five-Year Plan period, the economic growth mode of the oil and chemical industry has changed, and it is gradually escaping from the previous development mode that relied excessively on investment and increased its endogenous power. The path to healthy development.
The problems that existed in the past during the “protracted†and still precarious industries in the first half of the year have still not been effectively improved.
"For example, the problem of excessively low operating rates in some industries is still serious," Zhu said. According to him, in the first half year, the operating rate of the calcium carbide plant was approximately 66.5%, the operating rate of the polyvinyl chloride plant was approximately 60%, and the operating rate of the urea plant was approximately 77.5%. Although the operating rate of caustic soda and soda ash has rebounded to reach 82% and 85%, it also faces enormous pressure for further release of production capacity.
Zhu Hao believes that the main reason for the low operating rate in these industries is still the overcapacity problem that has always existed throughout the “Eleventh Five-Year Plan†period. According to him, in 2011, caustic soda will add about 4 million tons of new production capacity, and soda ash will add about 3.4 million tons of new production capacity.
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