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soft bubble polyether polyol: The latest data released by the National Bureau of Statistics show that from January to July, the national real estate development investment fell by 6.4% year-on-year; among them, residential investment fell by 5.8%. From January to July, the sales area of commercial housing decreased by 23.1% year on year. Sales of commercial housing fell by 28.8% percent.
Photo Real Estate Development Prosperity Index (Source: National Bureau of Statistics)
The current real estate downturn also has a significant impact on software furniture, home appliances, and automobiles. The current real estate downturn also has a significant impact on software furniture, home appliances, and automobiles. "Jinjiu" traditional peak season is approaching, polyether manufacturers said that orders are much lower than the same period last year, limited to market demand, downstream factory inventory digestion is slow. Although polyether rebounded and rose in August, most downstream manufacturers sold and ordered, and only needed to follow up, replenish stocks at low prices, and the pursuit was not enthusiastic. This year's Ching Ming Festival, Dragon Boat Festival, Mid-Autumn Festival and other small and long holidays focus on purchasing "one-day tours" and "three-day tours". The market accounts for the majority, and the overall trend is shortened, and the rise and fall of poly-soft foam polyether has achieved mediocre results.
hard foam polyol: refrigerator and freezer production decreased year-on-year, the decline narrowed, in which domestic sales recovered month-on-month, but exports remained sluggish. In August, under the extreme high temperature weather in many parts of China, under the power rationing policy in parts of southern and eastern China, local household appliances and automobile factories took high temperature holidays or reduced production time. Insulation board, pipeline, foam glue and other construction industries by the macroeconomic slowdown, real estate pressure, project capital allocation and other factors, the overall demand remains depressed, hard foam polyether orders are much lower than the same period.
export performance: the General Administration of Customs released data, in U.S. dollars, August exports 314.92 billion U.S. dollars, a year-on-year increase of 0.7 billion U.S. dollars. 1%, down 10%.9 percentage points from the previous month, imports 235.53 billion U.S. dollars, a year-on-year increase of 00.3%, down 2 percentage points from the previous month, import and export growth rates are lower than market expectations.
Turkey, Vietnam and India are still the top three export destinations for polyether polyol exports, accounting for 23% of total exports.
From January to July 2020, the proportion of polyether polyols exported to top10 countries (source: Tiantian Chemical Network)
is Turkey first. In July, China's exports of polyether polyols to Turkey fell 13%.0% month on month. The serious problem facing Turkey is that the inflation level in August even exceeded 80%. In Istanbul, Turkey's largest city, the price of materials has almost doubled compared with the same period last year, and some people have almost doubled because of the price of materials. About 1/3 of people in Turkey live on minimum wage. In order to ensure the basic livelihood of the working class, Turkey adjusted the minimum wage for the second time, raising it by 30% to 5500 lire (about 2103 yuan), but the rate of price increase and wage increase are still difficult to match. People's purchasing power is generally declining, and non-rigid consumption such as software furniture, automobiles and household appliances will be greatly reduced.
followed by Vietnam. In July, China's export volume of polyether polyols to Vietnam decreased by 24%.5% month on month. The Preventive Health Bureau of the Ministry of Health of Vietnam said that the number of confirmed cases of new coronary pneumonia in Vietnam is on the rise. At the same time, the purchasing power of major markets such as Europe and the United States has recently dropped sharply, leading to a drop in factory orders in Vietnam. Order shortages, strikes and layoffs have emerged one after another. The production and operation of enterprises in electronics, textiles, shoes and clothing, wood, steel and other industries are facing difficulties. Some factories have no orders, forcing them to reformulate appropriate employment plans. The head of the factory in Vietnam said that although the factory is still operating normally, orders will be difficult to maintain from September to October. Under the plan, businesses will arrange for workers to take simultaneous vacations. Combined with the National Day holiday, the factory will stop production for 8 days. Subsequently, enterprises arrange workers to take Saturday holidays according to the situation and reduce overtime. It is expected that workers' income will be reduced by 10%-20%. In general, both demand and purchasing power are weakening.
In addition, India's domestic consumption growth is insufficient. In July, China's export volume of polyether polyols to India decreased by 12%.1% month on month. First look at a set of data:
At present, India has diagnosed more than 428 million new cases, second only to the United States, and is the world's second largest epidemic area.
According to the Indian Economic Monitoring Center recently released data, in June, India's rural unemployment rate began in May and June. 62% rose to August and May, the urban unemployment rate was 703%.12% rose to 7.30%.
According to the data released by India's Central Bureau of Statistics on August 31, India's manufacturing industry increased by. 8% year-on-year from April to June, compared with 49% in the same period last year. The mining industry increased by 6% year-on-year.. 5%, 18% in the same period last year; The construction industry increased by 16% year on year.. 8%, the data increased by 71%.3% last year. High inflation and consequent cost increases continue to affect India's manufacturing industry.
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