The primary task is to resolve inflationary pressures
Because this increase in prices is driven by cost-driven price increases, rather than increased market demand and higher value-added products, the petroleum and chemical industries are facing huge inflationary pressures.
First of all, raw material prices have risen sharply. For example, in the first quarter, due to the sharp rise in crude oil prices, in addition to the year-on-year growth in the profits of the oil and gas exploration industry, the profits of the petroleum processing industry have started to suffer losses. The Ministry of Finance's tax rebate policy for PetroChina and Sinopec is proof. For another example, this year, as a raw material for fertilizer production, the coal has broken through the 1,000 yuan mark per ton; another important raw material for fertilizer production, sulfur, has risen from 2,800 yuan per ton at the end of last year to 4,760 yuan in March this year. . Coupled with the tight supply of coal and the strained rail transport, the production costs of most fertilizer companies have surpassed the nationally stipulated prices.
Second, labor costs are also rising dramatically. Some companies revealed that the average salary of their employees has doubled, and companies are still planning to increase wages. The increase in labor costs will certainly drive the rise in corporate commodity prices.
Again, for chemical foreign trade, we are still facing the pressure of RMB appreciation. Since the beginning of this year, the renminbi has already broken 7 against the U.S. dollar. Many export products do not suffer losses at the time of production.
The rising cost will inevitably squeeze the profit space of the company, and the rising price will inevitably affect the competitiveness of the product. Therefore, petroleum and chemical companies must pay enough attention to the rise in product prices, and should focus on structural adjustment, technological innovation, and management innovation in order to resolve inflationary pressures. (Yuhua)
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