Multiple releases of chemical park governance policies, industry reshuffle or acceleration
In order to fight the tough battle against pollution, Shandong, Zhejiang, Hebei and other places have recently issued chemical park governance policies, involving the prohibition of new chemical parks.
Industry insiders believe that new chemical parks are restricted and immature chemical parks are integrated and cancelled, which will further promote the integration and upgrading of chemical enterprises,and eliminate backward small and medium-sized enterprises, and accelerate the reshuffle of the industry.
Prohibition of new chemical parks.
In the "Three-Year Action Plan for Winning the Blue Sky Defense" (draft for public comments) announced in August, Zhejiang Province proposed to promote the implementation of a batch of chemical and other heavily polluting enterprises relocation projects. It is forbidden to add new chemical parks and strengthen the renovation of existing chemical parks.
Shandong Province stipulated in the "Operation Plan for Winning the Blue Sky Defense War and Air Pollution Prevention and Control Plan Phase III Action Plan (2018-2020)", 7 transmission channel cities (Jinan, Zibo, Jining, Dezhou, Liaocheng, Binzhou, Heze) Prohibit the construction of new chemical parks and intensify the renovation of existing chemical parks.
At the same time, Shandong requires that by the end of September this year basically complete the park certification and determine the list of relocation and transformation companies, and the number of recertified chemical parks and specialized chemical parks will be controlled within 75 and 10 respectively. It is reported that at least 114 chemical parks (concentration areas) in the province cannot be re-identified.
In the "Implementation Opinions on Comprehensively Strengthening Ecological Environment Protection and Resolutely Fighting Pollution Prevention and Control", Hebei Province requires speeding up the relocation and transformation of heavily polluting enterprises and hazardous chemical production enterprises in urban built-up areas and key river basins, and prohibiting new chemical parks in principle. .
In addition, Tianjin, Jiangsu and other places have also issued relevant chemical park rectification policies, which involve the prohibition of new chemical parks in key areas and the rectification and removal of small and medium-sized parks with weak infrastructure and irregular management.
The price increase of chemical products will continue
As environmental protection becomes stricter, in addition to chemical park management, many places have also limited production and rectification measures, which have also affected the prices of chemical products.
Public information shows that under the stimulus of overcapacity reduction and environmental protection resonance, the prices of most chemical products generally rose in 2017. The overall sector achieved rapid growth in 2017. The annual revenue growth rate reached 27.7%, and the net profit growth rate reached 43.1%.
Some chemical products currently continue this trend. Since the end of June, the PTA futures market has begun to rise sharply. After entering August, PTA once again set a new high. The industry believes that in the next three to four months, whether it is polyester or weaving, the equipment load will run at a high level, and the PTA spot price will easily rise but hardly fall in the later period.
The raw material propylene oxide also rebounded sharply recently, and the market price rose strongly. Industrial naphthalene continued to increase last week. Due to environmental restrictions on production, the low operating rates of coal tar and deep processing enterprises in Hebei and Shanxi have led to strong coal tar prices and a shortage of industrial naphthalene supplies.
A researcher at Everbright Securities said that environmental protection is still an important factor restricting the supply side of the chemical industry. With the improvement of environmental protection and safety supervision standards and the strengthening of enforcement, the number of chemical companies will further decrease, and the tendency of production capacity to concentrate on environmental protection and technologically superior companies will become more obvious.
Huaan Securities Researcher believes that from the perspective of local policies, the direction is to accelerate the elimination of backward production capacity, enter the park, protect the ecological environment, and encourage enterprises to develop in the high-end direction. It is expected that the chemical industry will usher in a new round of resource integration, and there will be a situation of constant strength and strength, which is also conducive to the increase of industry concentration and the realization of optimized resource allocation.