The monkeypox epidemic is unprecedented, and the prices of imported chemical raw materials have increased collectively!

May 29, 2024, 11:58 AM

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Highlights at a glance

The monkeypox epidemic in Europe is unprecedented, with over 90 confirmed cases across multiple countries including the UK, Spain, and Portugal. WHO experts link the outbreak to large gatherings in Spain and Belgium. The virus, typically confined to Africa, is spreading through close contact. Concerns rise regarding health and economic implications, including potential impacts on oil prices and chemical product costs.

The monkeypox epidemic has spread in many European countries. According to the Associated Press report on the 23rd, WHO infectious disease expert David Heyman said in an interview with the media that the rare monkeypox outbreak in Europe was unprecedented or related to two large-scale parties in Spain and Belgium.

The official also said that monkeypox outbreaks have never been widespread outside of Africa before, meaning the situation in Europe is very different from previous outbreaks. In Africa, human infection with monkeypox virus is mainly transmitted by animals.

To date, WHO has recorded more than 90 cases of monkeypox from more than a dozen countries including the UK, Spain, Israel, France, Switzerland, the US and Australia.

[Third suspected monkeypox case found in the United States]

On May 22, local time, the U.S. health department said that a third case of monkeypox may have been detected in the country, and a patient in Florida was being tested to confirm whether he was infected.

According to a statement from the Centers for Disease Control and Prevention and the Florida Department of Health on the 22nd, the suspected case in Broward County, Florida, is "related to international travel" and the suspected patient remains in isolation.

[Germany confirms 4 cases of monkeypox]

According to the German "Berlin Morning Post" on the 23rd, a spokesman for the German Ministry of Health said at a press conference on the same day that four cases of monkeypox infection have been confirmed in Germany, and more cases are predicted to appear in the future. Based on available information, the spread of monkeypox virus is only possible through close contact.

[France has found 3 confirmed cases of monkeypox]

On the 23rd local time, the French Ministry of Public Health said that on the same day, two new cases of monkeypox were confirmed in France, bringing the total number of confirmed cases to three. On the 19th local time, the first confirmed case of monkeypox in the country was found in the Ile-de-France region

[Portugal has confirmed 37 cases of monkeypox]

Portugal's National Health Administration reported on the 23rd that 14 new cases of monkeypox have been confirmed in the country. So far, 37 cases of monkeypox have been confirmed in the country, of which 35 are located in Lisbon and Tagus Valley Region, Northern Region and Algar Victoria has one confirmed case each, with more suspected cases of monkeypox still awaiting test results in the country. Portugal's National Health Service said in a statement that cases of monkeypox infection in the country are currently in stable condition, and authorities are conducting an epidemiological investigation of the monkeypox outbreak to confirm the chain of transmission of the monkeypox virus.

The monkeypox epidemic in Europe is unprecedented in history, and the increase in confirmed cases in many countries may lead to concerns about the demand for oil prices in the short term. In addition, the restart of the Iran nuclear negotiation, the deadlock of the EU on the Russian crude oil embargo and many other negative effects may limit the increase in oil prices.

The prices of imported chemical raw materials have increased collectively, and the prices of more than 20 kinds of imported chemical products have jumped up.

Recently, overseas titanium dioxide giant Tenor issued a price adjustment letter, saying that starting from July 1, 2022, the price of all titanium dioxide sold to the Asia-Pacific region except Japan will increase by $300/ton. In addition, due to the tight supply of raw materials, a 90-day lead time for seaborne shipments has been stipulated, and everyone is reminded that all order confirmations are subject to product availability and compliance with the required lead time.

Industry insiders said that the rise in titanium dioxide prices is on the one hand the rise of upstream raw materials, and another important factor is that the demand in major downstream fields such as automobiles and real estate has gradually recovered, and the industry as a whole is improving. In addition, the recent RMB exchange rate has repeatedly broken new lows and even the increase in the cost of various chemical products brought about by the sprint 7.0 is also one of the factors for its price increase.

The devaluation of the RMB means that the cost of imports will rise, which will cause huge disadvantages for industries that rely on overseas imports and borrow a lot of foreign currency, especially for the petroleum, chemical, mining and other industries, which can be described as huge pressure. Now this impact is spreading rapidly, resulting in a sharp increase in the price of many imported chemicals and tight supply, which has brought a haze to the operation and cost of domestic chemical and downstream enterprises.

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