Is the main consumer of methanol olefin, pre Ningbo flight due to equipment problems short load down to 60%, has been restored, Xing Xing energy load to 80%, Nanjing is expected to maintain normal operation of Wison, these sets of olefin plant December will resume normal operation. According to the law in previous years, into December, the traditional downstream will enter the off-season demand, will gradually reduce the operating load. The Spring Festival this year earlier than in previous years, do not rule out the formaldehyde factory work may advance the Chinese New Year; Nanjing BP50 million tons of acetic acid plant in November 21st to stop, restart the program in early December. At present, the traditional December compared to November has been shrinking downstream demand.

In December, methanol to Hong Kong is still not enough, according to the schedule, there are about 700 thousand tons. In addition, the recent port circulation of goods continued to decline, the latest port circulation supply has plunged to 158 thousand and 300 tons, the port is to inventory status. According to statistics, at present, the coastal areas (Jiangsu, Zhejiang and Southern China) methanol inventory has dropped to 669 thousand and 600 tons from 1 million 151 thousand and 600 tons, almost halved in the low level of history, it will also support methanol prices.

Overall, in port stocks at low, estimated in December to Hong Kong is still not much and northwest shipping pressure weakened in the background, is expected to fall sharply in December the possibility of methanol is not recommended cautiously bearish.

Secondly, now coal prices high, resulting in the high cost of methanol, and the domestic market bullish sentiment, so the crude oil fell to methanol limited impact.

The methanol industry chain structure of supply and demand is expected to improve the positive impact factors and the operating rate of decline was significantly higher than that in downstream, the cost sharply, methanol futures prices are still expected to rise again, investors may be concerned about the 1701 methanol contract in 2300 yuan / ton.

The price of natural rubber and synthetic rubber makes the domestic tire manufacturers together call up. Reporters learned in the interview process, the beginning of last November some tire companies issued a notice of price increases, to February, the tire prices are still up.

Wang Kaifu told reporters, from November 2016 to February this year tire prices increase month increase, total 10%~25%; the 11 at the end of last year the beginning of the December, the tire price increases about 2%~5%, increase in January 2%~8%, February raised about 5%~10%. He said that the reason of tire prices is mainly natural rubber, synthetic rubber, carbon black, steel cord and tire additives such as main raw material prices continued to rise sharply.

“Tire prices rose more due to the rising cost of raw materials, natural rubber, synthetic rubber tire costs accounted for nearly 50% of the cost.” A domestic tire listed company insider told the “daily economic news” interview.

Wang Kaifu told reporters that the domestic tire enterprises basically is full price, but mainly by the higher market share, sales channels and large comprehensive sales good leading tire companies.

The domestic tire company insiders said, “tire prices have nominal and actual. The nominal price may be $45%, but in order to keep the market share, vendors may have some promotion policy.”

At the same time, the insiders said, now obviously feel do not buy or buy up the market demand began to appear, but in the long term, demand or need to product sales promotion from the extensive growth pattern to enhance quality and leading mode to stimulate. “Tire market demand is relatively stable and even began to recover.”

In recent years, with the laws and regulations of the protection of intellectual property rights have been introduced, the national efforts for the protection of intellectual property rights is increasingly strengthened, the ability of independent innovation and intellectual property rights of enterprises in the future rapid development provides a strong guarantee.

Unfavorable factors

The raw material price volatility

The raw materials used in the production of composite polyurethane adhesives are petroleum products, in recent years, the international market of crude oil price volatility, resulting in the price of raw materials of composite polyurethane adhesive also will be changed greatly.

The research is required to improve

Composite polyurethane adhesive industry is a technology intensive industry, product formulation and development ability of enterprises to maintain high profit margins, with the rapid development of fine chemical industry in the world, changing customer demands, and presents the trend of personalized, potentially improving the upstream product development difficulty, enterprises must always pay attention to product formula improvement, improve the performance of, and broaden the application fields, continue to meet the changing demands of the market and consolidate market share.

The localization of multinational corporations competition

With the rapid development of polyurethane adhesive industry, some domestic enterprises have begun to gradually grasp the independent intellectual property rights in some areas has gradually well competitive advantages; however, some multinational companies realize that Chinese market has strong development momentum, is the focus of competition in the implementation of the global strategy. In recent years, multinational companies to increase investment Chinese, making production and research to accelerate the process of localization and reduce its cost.

Ten, industry chain

The downstream industry chain industry

Upstream industry

The upper composite polyurethane adhesive industry as the basic petrochemical raw materials industry, the main raw material is two ethanol, adipic acid, isophthalic acid, two.

At present, the 95% industry raw materials has made domestically, mainly by Sinopec, PetroChina, dance (China) and Yantai Wanhua ear; overall, composite polyurethane adhesive raw materials in the overall balance of supply and demand situation.

Downstream industries

Due to the wide application and downstream industries composite polyurethane adhesive and printing: packing, leather, textiles, footwear, of household appliances, electronic products, furniture, building materials, transportation, energy, security, tobacco etc..

Eleven, industry related laws and policies

The “catalogue for the guidance of industrial structure adjustment (2005)”, “People’s Republic of China economic and social development of the Eleventh Five Year Plan”, the “national long-term science and technology development plan (2006.2020 years)”, “Industrial Catalog for foreign investment (2007)”, “high-tech enterprise management approach” (April 28, 2008), “national key high tech fields” (National Science at No. [2008]172) and other policy documents put forward the positive development of economy at the same time as the new chemical industry, will focus on the development of the adhesive material, and its inclusion in the State encourages the development of the industry.

China petroleum and Chemical Industry Association released the “China petroleum and chemical industry” 11th Five-Year “development plan” clearly pointed out that for the adhesive industry, focus on the development of environmentally friendly and high performance adhesives, such as polyurethane adhesive, silicone adhesive, Low Formaldehyde UF glue, epoxy adhesive, etc..

According to sources, Sinochem Group and China Chemical Group will be merged, then China Chemical Group’s acquisition of Syngenta due to funding problems facing enormous possible default risk, therefore, in the investment group will help purchase, or will become Syngenta’s parent company. According to these sources, the relevant program documents have been submitted to the state council.

Although the Asian financial forum in Changning director Gao Ning in January 16th this year, held in Hongkong, the Chinese group does not plan to purchase the Chinese chemical group, but since the reform of the state-owned enterprises, a Sinochem chemical group and combined the rumor has been circulating in the market.

The pace of reform of state-owned enterprises since 2016 significantly accelerated, just one year, there is grain and cotton, Baosteel and Wuhan in 5 of the 10 central enterprises reorganization, the number of the SASAC supervision of enterprises has been reduced to 102.

The pace of overseas acquisitions in recent years, state-owned enterprises is accelerating, the international agricultural giant Syngenta acquired last year chemical group is becoming more Chinese enterprises overseas mergers and acquisitions amount most, reached $43 billion, but the two sides agreed, because if China makes a contract cannot take place, need to take China chemical reverse breakup fee $3 billion.

At present, the deal has been approved by the Foreign Investment Commission and other regulatory agencies related to the review in August 2016, and is expected to get the EU antitrust regulators approved this year, making the industry this transaction will be carried through all procedures is expected to greatly improve the supervision.

In addition to international supervision, funding is also a successful trading “stumbling block”. According to Caixin, the actual total amount of funds needed to be as high as $50 billion 400 million, so Chinese chemical group to build a multi-level financing framework of high leverage, but still need special $15 billion capital injection to start the first SPV, SPV multilayer financing follow-up.

But Sinochem Group and China Chemical Group restructuring means that an annual revenue of nearly $100 billion, the birth of giant companies across the oil industry, chemical fertilizer and the. According to sources, Sinochem has said it will provide financial support for the acquisition of China chemical group Syngenta issue, but it also means that the technology will replace China chemical group, become Syngenta’s parent company.

However, the two largest chemical means the reorganization of state-owned enterprises, or the acquisition of the main transaction structure change. If the move triggered antitrust authorities to review the trading process of the parent company, is the antitrust review process from scratch.