Japan's chemical plant is second only to the United States in the world. In order to maintain the status of the world's chemical power, many chemical companies are among the world's top companies. Data shows that China imported a total of 176.707 billion U.S. dollars from Japan in 2010, and the chemical industry and related industrial products accounted for 14.829 billion U.S. dollars, accounting for 8.4%.
However, due to the earthquake, factories of many large chemical companies in Japan have stopped production. Global ethylene and its related plastic raw material prices are bullish. According to sources, Mitsubishi Chemical, Shin-Etsu Chemical, and other world-renowned chemical companies have at least two or three factories shut down. This may bring opportunities to companies in the same industry in the country.
On March 11th, at 17 o'clock local time in Japan, an explosion occurred at the Cosmo Oil Company Chiba refinery in Shihara, Chiba Prefecture, Japan. According to sources, the oil refineries in Kanagawa and Ibaraki were discontinued due to the earthquake. Maruzen Oil and Mitsui Chemicals also stopped work immediately after the explosion.
According to industry insiders, the suspension of production of refineries and chemical companies in Japan may cause major changes in the supply and demand relations of the global chemical industry, and the price of some products may rise accordingly. Hong Yuan Securities analyst Chai Haohu said that in the coming days, propylene, ethylene and other olefin products will rise due to the suspension of Japanese refineries.
“The damage caused by the earthquake in Japan was as high as tens of billions of U.S. dollars. As the earthquake approached Japan’s heavy industrial zone, it caused a serious impact on the automobile and chemical industries. In particular, the loss of the chemical industry was significant, and the domestic fine chemical industry leader will gain rapid development. Opportunity.†Oriental Securities analyst told reporters.
Mitsubishi Chemical Holdings said that its Kashima plant was shut down due to an electrical disruption caused by the earthquake, and another chemical manufacturer, Mitsui Chemical’s Kashima Plant and Mobara Plant, suspended production for the same reason. Japan’s ethylene production accounts for approximately 5.5% of global production capacity and exports account for 8.5% of the global market. Ethylene is a major component of plastics such as polyethylene; at the same time, the price of petroleum brains used to produce 90% of ethylene products in the Japanese market is bearish and drags down. Global crude oil prices fell slightly.
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