Under the influence of the earthquake, Japan's polyurethane raw materials MDI (polyurethane raw materials used in construction and refrigerators) and methyl ethyl ketone are in a price increase phase due to lack of goods, of which methyl ethyl ketone has risen by at least 10% in one week.

In addition, Bridgestone, a Japanese tire company, is also remedying the current shortage of production capacity by transferring goods from abroad.

Methyl ethyl ketone and MDI prices rose

According to the latest chemical report from CITIC Construction Investment Corporation, the earthquake in Japan had a major impact on the supply of methyl ethyl ketone (MEK). Currently, two Japanese companies, including Maruzen and Idemitsu, have a total of 210,000 tons of Methyl Ethyl Ketones destroyed, accounting for 14% of the world's total production capacity.

Among them, the shutdown of Maruzen's company may take more than three months, and the light is also expected to repair the equipment one to two months. In addition to the damage to the main unit, the storage tanks of the COSMO petrochemical company that supplied Maruzen with raw materials for the production of methyl ethyl ketone also exploded, and the possibility of short-term resumption of production was small.

In China, 40% of methyl ethyl ketone needs to be imported from Japan. Therefore, in the case of difficult shipment of methyl ethyl ketone in Japan, the price of methyl ethyl ketone in China has soared by about 10% in the past week.

At the end of the week, the price of methyl ethyl ketone in North China was 15,500 yuan/ton, up by 1,500 yuan to 2,000 yuan/ton from the previous week, which was a surge of about 90% from 8,000 yuan/ton in March 2010. In addition, the international methyl ethyl ketone price in the same period also increased by 200 US dollars / ton, FOB US Gulf methyl ethyl ketone quoted at 2150 yuan to 2170 yuan / ton, while the current price of pure MDI is about 17,400 yuan.

Guo Jin Securities researcher Liu Bo told reporters that after the earthquake in Japan, MDI prices may rise in the short term.

In 2010, MDI's global total production capacity was approximately 5.66 million tons, of which Japan was between 600,000 and 650,000 tons (manufacturers NPU and Mitsubishi Chemical). At present, the NPU plant is located in Nanyang, Yamagata Prefecture, which is very close to Sendai, and Mitsubishi Chemical also has about 300,000 tons of production capacity, respectively in Ohmata (near Tokyo) and Kashima (near Kashima Port). It is not easy to fully resume production in the short term.

Liu Bo said that Japan’s production capacity accounts for a quarter of the total in Asia. Local manufacturers of MDI in Asia include Yantai Wanhua (26.84, 0.00, 0.00%), BASF, Bayer, etc., all of which may raise prices. “China There will be about 1.3 million tons of demand and 32 million tons of imports this year, while Japan's imports account for about 10% of China's total MDI demand."

BASF has raised the price of MDI on March 15, but Yantai Wanhua has not raised its price yet. Yantai Wanhua executives told reporters that it is still hard to see how the earthquake will affect the supply of MDI to the Asian region. However, due to the rising prices of MDI upstream raw materials and the production of downstream refrigerators during peak season, MDI prices may be Will go higher.

Yu Dahai, president of Germany's Evonik Industrial Group Greater China, a fine chemicals manufacturer, revealed on Thursday that the company’s staff in Tokyo, Japan, has already withdrawn to the south. However, there is no latest data on the impact of the factory. .

Bridgestone Tires Seeks International Branches

In addition to the chemical prices involved in the earthquake, the production of Japanese tire companies was also hindered.

Wu Tianbang, the president of Bridgestone tires China, told the newspaper: “Our affected factories are located in Tokyo, Heiji, and Tochigi, and all of them have been shut down for a few days. The company conducted a comprehensive inspection of all machines. From March On the second shift on the 16th, the factory gradually resumed production."

Takeda Bunto pointed out that Japan is currently planning a power outage, and the company tries to solve part of the electricity through the gas-electric symbiosis system. "But full-load production is still very difficult."

He said that the most power-consuming process in the tire factory is “mixing”, that is, mixing raw materials such as rubber and medicines. “It requires the use of a large amount of heat sources. We consider that it can be used in China, Indonesia, Thailand and other Puli. The Stone Factory supports the smelted products."

More than 70% of tires produced by Bridgestone's Japanese factories are exported, including exports to China. “The company has 48 tire factories in the world. Whether or not this adjustment will be adopted to put some of Japan’s production capacity in other countries, it still needs the Japanese headquarters to make decisions.”

Takeda Bunto also pointed out that despite the supply constraints in the Japanese factory, the company is also investing more resources for expansion of other factories. “There are four factories in China and three in Thailand. Last year we also invested 50 billion yen in India to build new plants. The demand in emerging markets is still increasing.”

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