Fertilizer and pesticide output grows in Q1

In Q1, the added value of the chemical industry grew 9.1% year on year, with the growth rate down 2.9 percentage points year on year. Among major products, ethylene output was 4.41 million tons, up 4.5%. Primary-form plastics output was 17.81 million tons, up 11.4%; synthetic rubber output was 1.23 million tons, down 7.3%; synthetic fiber output was 9.91 million tons, up 13.8%. Caustic soda output was 7.56 million tons, down 1.2%; soda ash output was 6.5 million tons, up 2.0%. Fertilizer output was 17.31 million tons, up 5.8%; among this, nitrogen fertilizer, phosphate fertilizer and potash fertilizer output grew 3.0%, 10.3% and 24.4% respectively. Pesticide output was 910,000 tons, up 7.1%. Rubber tire casings output was 215.79 million units, down 3.5%. Calcium carbide output was 5.88 million tons, up 5.2%.

Among the key monitored chemical products, prices of most products rose from the previous month. In March, the average price of caustic soda (solid caustic soda) was 2,050 yuan/ton, up 2.5% from the previous month and down 13.1% year on year; soda ash was 1,550 yuan/ton, down 1.9% from the previous month and down 7.2% year on year. Urea was 1,670 yuan/ton, up 0.6% from the previous month and up 6.4% year on year; domestically produced diammonium phosphate was 2,920 yuan/ton, up 1.7% from the previous month and up 10.6% year on year. Calcium carbide was 2,360 yuan/ton, up 3.5% from the previous month and down 12.9% year on year.

In Q1, the chemical industry realized profits of 86.28 billion yuan, up 3.9% year on year. Among this, the fertilizer manufacturing industry had profits of 5.6 billion yuan, up 13.8%.