High oil prices prompted a month-on-month rise in chemical prices 2022-2

High oil prices prompted a month-on-month rise in chemical prices

It was reported that up to 80 percent of major chemical products saw their prices rise month-on-month in February, with both the number of products and the price increase expanding compared with January. The analysis shows that the transmission effect of rising international oil price has appeared, and the change of oil price is still an important factor influencing the chemical prices trend.

Of the 150 or so chemicals monitored by the agency, the varieties with month-on-month price increases accounted for up to 80% in February, with both the number and the range of increases expanding compared with January.

Of course, there are also some chemical products prices fell month-on-month, these varieties on the one hand, ample supply, on the other hand, upstream raw materials are also falling. There are also some chemical products affected by demand factors and price cuts.

For the next price trend of chemical products, analysts believe that the main demand and crude oil prices change.

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