Analysis of profit of styrene industry

At present, there are 21 styrene production enterprises in China, and the domestic styrene industry has formed a state-owned, private, joint venture and wholly foreign-owned company. State-owned enterprises are mainly affiliated companies of PetroChina and Sinopec. Foreign-funded enterprises include Sinopec Shell, Shanghai Secco, Yangzi BASF, and Changzhou Dongcun. Private enterprises include Liszt and are invested by Shuangliang. The percentage statistics of various types of enterprises are as follows:

The production scale of China's styrene industry was only 3.1 million tons in 2008. In 2009-2010, several new styrene units were put into operation in China, and the total domestic production capacity grew rapidly. At the end of 2010, it reached more than 5 million tons. With the continuous progress and innovation of the production process, the process of new installations has shown a trend of diversification, and the traditional process of production of pure benzene and ethylene as raw materials is no longer dominated by the world. Daqing Zhonglan Petrochemical Co., Ltd. put into operation the 80,000-ton-class ethylbenzene/styrene combined plant and became the largest dry gas process styrene plant in China. Shandong Heze Yuhuang Chemical Co., Ltd. successfully put into operation the first large-scale ethanol direct styrene production plant in China. In 2010, Ningbo Zhenhai Refining Liande Chemical Co., Ltd. put into operation the styrene plant, which is currently the world's largest PO/SM technology to produce styrene units with a styrene capacity of 600,000 tons per year. The following is a comparison of the current production process of China's styrene plant:

The production method mainly represents the enterprise

Pure styrene styrene styrene Dongzhou, Jiangsu Li Shide

Ethyl styrene Shandong Yuhuang

Dry gas process styrene Jinzhou Petrochemical, Jinxi Petrochemical, Huabei Petrochemical, Daqing Zhonglan

The difference in production process will inevitably cause some gaps in the cost of styrene, which will affect the profit margin in the near future. Styrene is the bulk raw material of China's chemical products. The monthly consumption of the East China market is between 0.25 and 300,000 tons. There is also a large amount of imports per month into the market. For the monthly use of such chemicals, The advantages of cost and price are particularly important.

It is understood that in these several production methods, the pure styrene method is a relatively common method of producing styrene, and the main production plants in China are still the most common ones. The main raw materials for preparing styrene by this method are ethylene and pure benzene, which play a large part in the cost of styrene. Both of these raw materials are ultimately linked to the crude oil market, and are affected by the fluctuations of their changes. In recent years, the crude oil market fluctuates frequently. The market price fluctuations of ethylene and pure benzene have a direct impact on the production costs of styrene-producing companies. Frequent fluctuations in raw material prices affect the profitability of styrene-producing companies. The main raw material for styrene in recent years is pure benzene. The rapid price rise after the Spring Festival has increased the purchasing costs of styrene production companies and reduced the profitability of styrene producers.

Looking at the recent styrene production situation, the market price of styrene in the domestic market has been declining due to the low consumption of the downstream market from December last year to the present, especially before the Spring Festival. Some styrene production costs of domestic manufacturers Both are higher than the market price. Some companies have to reduce their operating rate or simply stop production due to the shrinking profit margin. This situation has lasted for nearly two months. The current cost of styrene renminbi is about RMB 10,700/tonne, and East China The market's mainstream talks range from RMB 10,700 to RMB 10,750/ton. Even if transactions occur near this level, it is just enough cost.

In fact, there are many major factors affecting the profitability of the styrene industry. In view of the current situation, it is mainly the sales price of styrene and the purchase prices of ethylene and benzene, which are the main raw materials. The original raw material of pure benzene is petroleum, and domestic dependence on the international crude oil market is very large. The fluctuation of the international crude oil market has great uncertainty, and in the next few years, the profitability of the styrene industry may also have destabilizing factors. . However, judging from the current economic situation at home and abroad, the styrene industry in various countries is heating up. With the coming of the spring and summer season, it is expected that in the next few weeks, the styrene market will not suffer large-scale losses. Two weeks or so, the market price has risen to 12,000 yuan/ton, which is ideal.

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