May China's petrochemical industry is booming

According to data from the China Petroleum and Chemical Industry Association, in May, the output value of China's petroleum and chemical industries grew steadily, realizing a current industrial output value of 443.42 billion yuan, a year-on-year increase of 19.5%, of which crude oil and natural gas extraction industry realized a current value of 69.78 billion yuan, up The decrease of 0.9% was mainly due to the fact that the oil price was lower than that of the same period of last year; the oil refining industry achieved a production value of 127.77 billion yuan, a year-on-year increase of 14.4%; the chemical industry output value grew rapidly, achieving a production value of 238.57 billion yuan, a year-on-year increase of 29.6%. In the chemical industry, the output value of the synthetic materials and specialty chemicals industry grew fastest, which was 36.8% and 36.1% higher than the same period of last year. Fertilizers and pesticides industry, due to stable prices, a relatively small increase in output value, an increase of 24% and 23.4%, respectively, for the lowest growth in the chemical sub-sector.

In May, the domestic petroleum and chemical markets experienced strong demand and sales were active. The current sales value achieved a total sales value of 437.57 billion yuan, a year-on-year increase of 20.5%; the industry-wide product sales rate reached 98.7%, an increase of 0.8 percentage points year-on-year. Among them, the production and sales ratio of crude oil and natural gas extraction was 98.6%, which was a 0.4% increase year-on-year; the production and sales ratio of the oil refining industry was 99.8%, an increase of 1 percentage point year-on-year; the production and sales ratio of the chemical industry was 98.1%, an increase of 0.7 percentage points year-on-year. The sales situation of agrochemicals was still good, with the production and sales ratio of chemical fertilizers 98.8%, which was a year-on-year increase of 1 percentage point; the production and sales rate of pesticides was 95.4%, an increase of 0.6% year-on-year. The production and sales ratio of coatings, inks and similar products and basic chemical raw materials decreased slightly year-on-year.

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