Third quarter basic organic chemical product market is expected to rebound quickly

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Chinese network Reuters drying the second quarter of this year, the cost of supporting affected by the deteriorating macroeconomic environment and the loss of high oil prices, basic organic chemical products market volume and price down. In the third quarter, the market environment will improve.

In the second quarter of this year, the WTI crude oil price was $103/barrel at the beginning of the season and the quarter-end price was $85/barrel. The average price for the quarter was US$93/barrel, down 9.4% month-on-month and 8.8% year-on-year.

Affected by the slowdown in global economic growth in the second quarter, the demand for basic organic chemical products shrank sharply and market transactions decreased. Driven by the decline in crude oil prices, market trading prices have fallen sharply. In the second quarter, the processing intervals of downstream devices generally narrowed, and the operating rate of upstream and downstream devices decreased significantly. The overall market for organic chemical products showed a downward trend.

In the third quarter, the macroeconomic environment will improve. Europe has passed its assistance to banks and its economic stimulus plan. The negative impact of the European debt crisis on the market has weakened, and China has also introduced steady growth measures. At the same time, the third quarter of the climate, geopolitics, the United States economic stimulus plan and other factors contributed to stronger crude oil prices than the negative factors. This will help the market price of basic organic chemical products out of the current bottom. At the same time, after the rapid decline in the market in May and June, the upstream and downstream plants were all destocking operations. With the restoration of market confidence, the huge demand for market supplementation has created favorable conditions for the rapid rebound of the basic organic chemical product market in the third quarter.

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