From January to August, China's petrochemical industry showed steady and rapid development

Business Club September 26th, from January to August this year, affected by the situation in Libya and other factors, the international crude oil prices fluctuated at high levels, the market demand for petrochemical products is strong, the growth rate of industrial output value is obviously higher than the output growth rate, and the overall economic performance is good. Foreign trade Zooming in step by step, the overall development has shown steady and rapid development.

First, the rapid growth of industrial output value In January-August, the petrochemical industry realized a production value of RMB 63.8 trillion, a year-on-year increase of 34.9%, and a year-on-year increase of RMB 1.8%. Among them, the refining industry was 2011.7 billion yuan, an increase of 30.6% year-on-year, 7.4 percentage points lower than the growth rate of the previous year; the chemical industry was 4198.7 billion yuan, an increase of 37.1% year-on-year, an increase of 4.5 percentage points from last year's growth rate. In the first eight months, the average growth rate of the petrochemical industry's industrial added value was about 13.2%, which was 0.5 percentage points lower than the growth rate of last year.

2. Steady increase in product output In the first eight months, the output of major petrochemical products maintained a steady growth momentum, with a crude oil processing volume of 297.44 million tons, refined oil 176.56 million tons, and ethylene 10.34 million tons, an increase of 6.6%, 7%, and 14.6% year-on-year respectively. Compared with last year, the growth rate of crude oil processing volume dropped by 6.8 percentage points, the growth rate of refined oil production dropped by 3 percentage points, and the growth rate of ethylene production dropped by 17.1 percentage points.

3. Significant improvement in economic benefits From January to July, the petrochemical industry realized a profit of 231.1 billion yuan, a year-on-year increase of 24.7%. The chemical industry achieved a profit of 221.8 billion yuan, an increase of 54.9% year-on-year. In addition, due to the rapid rise in crude oil prices, the increase in sales costs was higher than the increase in revenue, the refining industry realized a profit of 2.4 billion yuan, a year-on-year decrease of 93.5%. In July, the monthly loss was 4.8 billion yuan; the loss of loss-making enterprises reached 34.6 billion yuan, a year-on-year increase. 7 times.

Fourth, the gradual expansion of foreign trade This year, the petrochemical industry's import and export trade continued to maintain rapid growth. From January to July, total imports and exports were US$226.3 billion, a year-on-year increase of 27.5%. Among them, total imports reached US$130.1 billion, a year-on-year increase of 24.4%, and total exports reached US$96.2 billion, a year-on-year increase of 32%.

V. International oil prices oscillated lower In August, the outlook for world economic recovery weakened, the European debt and US debt crisis intensified, the exchange rate of the US dollar rebounded, and the international crude oil price fluctuated lower. The average price of WTI crude oil stood at 88.93 US dollars/barrel, 13.58% higher than the same period of last year, and decreased month-on-month. 2.74%. The average spot price of Brent crude oil was 111.23 U.S. dollars per barrel, which was a year-on-year increase of 41.93% and a decrease of 2.64% from the previous quarter.

VI. Product price fluctuations In August, affected by the decline in international crude oil prices, the overall domestic oil product price rebounded. Overall, in August, the market differentiation of domestic bulk chemicals products intensified, the price fluctuated greatly, and the prices of inorganic chemical raw materials fell as a whole. The price of organic chemical raw materials rose as a whole. Fertilizer prices rose a lot and tire prices went down. Rubber prices were mixed, and synthetic rubber rose. Natural rubber fell. The sales rate of industrial products in August was 98.27%, which was a year-on-year decrease of 0.1%. The balance between production and sales was basically balanced. Of the petrochemical products that were tracked, the prices of products that were flat and rising year-on-year were more than 90%.