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The data shows that the output of key products of the petrochemical industry in the province has increased in the first 7 months. The processing volume of crude oil was 5.87 million tons, up 12.8% year-on-year; the production of chemical fertilizers was 4.927 million tons, an increase of 20.7% over the same period; the production of sulfuric acid was 4.61 million tons, an increase of 34.8%; the production of caustic soda was 427,000 tons, an increase of 35%; the production of soda ash was 816,000. Tons, an increase of 11.8% over the same period last year. The output value of key petrochemical enterprises increased significantly. Wuhan Petrochemical’s net increase in production value was 5.1 billion yuan, and Jingmen Petrochemical’s net increase was 4.2 billion yuan. Some enterprises' export delivery also showed a growth trend. Yihua Group's export delivery value increased by 210 million yuan.
However, the current problems and trends in the petrochemical industry still need to pay attention: First, there is a lack of sustained and rapid upward momentum. The petrochemical industry was affected by the sharp fluctuations in crude oil prices and the adjustment of export tax rebates. Production fluctuations were relatively large. In July, the added value was 4.61 billion yuan, a decrease of 16.2% from the previous quarter. Second, some petrochemical industries have shown signs of twists and turns in the recovery process, and product prices have oscillated. Third, the market is not expected to be optimistic. At present, China’s economy is faced with multiple relationships of maintaining stable and rapid development, adjusting the industrial structure, and managing inflation expectations. The “dilemma†problem of macroeconomic regulation and control increases, and the market situation is more complex.
The Economic Operation Department of the Hubei Provincial Economic and Information Committee recently disclosed that from January to July, the province's petrochemical industry completed an industrial added value of 35.58 billion yuan, an increase of 24.3% year-on-year, 3.3 percentage points higher than the provincial industrial growth rate. Among them, the chemical industry completed an industrial added value of 22.55 billion yuan, an increase of 31.2% year-on-year, 10.2 percentage points higher than the province's industrial growth rate.
May 20, 2021