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Home | News |Weekly Polyurethane Market Review(Sept 13, 2011-Sept 16, 2011)
Weekly Polyurethane Market Review(Sept 13, 2011-Sept 16, 2011)
Updated: 2011-09-19 00:00 Source: share:
Market Review
 
Domestic polyurethane market presented ups and downs this week.BDO price has shot up due to tight supply. How much did pipleline explosion of Secco affect market? Trends in detail:
 
Isocyanate
 
Pure MDI: MMDI market stabilized this week. Downstream orders increased compared to August. However, with majorly short-term orders and sufficient supply, downstream purchase keeps steady. Although Secco facility came across accidents, it didn’t affect MDI facility of SLIC, thus traders keep stable quotations.NPU starts maintenance in mid Sep, due to downstream clients and traders have already booked sources and downstream demands are week, price remains uninfluenced.
 
Prices are settled at Rmb 18300-19000/ton in east China with NPU priced higher and prices are high by acceptance. South China traded at Rmb 18500-19000/ton and Shanghai goods dealt at Rmb 18500-18800/ton.
 
Polymeric MDI: PMDI market dropped slightly this week. Affected by accident of Secco facility, traders tend to lift the price. However, with BASF being uninfluenced, market remains stable. Price of high grade market dropped and low-priced deals can be heard. With no sales pressure, traders stabilized quotation.
 
It is said outer wall insulation and fireproof standard is up to B1, but it has not been confirmed yet. It still needs wait to see if this can stimulate demands in Oct.
 
Mainstream markets traded at Rmb 14300-14700/ton in east China, Rmb 14600-14900 in north and Rmb 14500-14700/ton in south.
 
TDI: Doemstic TDI market perfomed well.Affected by Secco events, TDI market is hot.Some plants even stopped quoting to build a tight astosmphere early this week.Plants lifted their prices later on by Rmb300-500/ton.Gansu Yinguang up-adjusted their quotation too, but the situation didn’t last long.With prices rising all the way, downstream merket reduced their orders.With restart of Yinguang’s 100 kt/y TDI facility, market price fell back.
 
Concerning price, Gansu Yinguang up-adjusted ex-work quotation of northern area by Rmb 200/ton to Rmb 18700/ton; Yantai Juli stopped quoting due to facility maintenance; Taiyuan bulestar undertook overhauling and stopped quoting either. September list price of Bayer is Rmb 18700(ex-factory)-19200(delivered)/ton, Rmb19000(delivered)/ton of BASF and Rmb 19000(delivered)/ton of Cangzhou Dahua.Mainstream prices are at Rmb18700-19300/ton in east China and Rmb 18700-19300 in north China;Domestic goods are traded at Rmb 18300/ton(tax excluded) abd Rmb 18700-18900/ton(tax included);Shanghai goods are quoted at Rmb 18900-19200/ton(delivered) and $2250/ton in Hongkong market.
 
Polylol
 
AA (Adipic Acid): This week AA market didn’t perform well following a slight fall at the beginning of this week and obvious slippage at the mid and end of this week.
 
At the early of this week, Shandong goods were mainly dealt at Rmb 17400/ton is east China while Liaoyang Petrochemical nominated close to Rmb 17800-18000/ton. Shandong low end trading value was also heard at Rmb 17150-17200/ton. In south China market Shandong market mainstream trading value was Rmb 17400-17500/ton while Liaoyang Petrochemical numbers were Rmb 17900-18000/ton. At the mid and end of this week pricing slipped to Rmb 16800/ton. At present, in east China Shandong goods were negotiated at Rmb 16800-17000/ton while Liaoyang Petrochemical was pegged at Rmb 17400/ton. Ukrarine goods were dealt at Rmb 16700/ton while in south China Shandong availabilities were traded at Rmb 17000/ton. Xinjiang goods were agreed at Rmb 17200/ton while Liaoyang petrochemical were Rmb 17400-17500/ton.
 
In downstream, PU coatings preformed well while sole resins market presented insipid. BDO pricing were running at high level with limited availabilities, which in some extent damped AA consumption volume. China Petroleum and Chemical east China sales company lifted pure benzene pricing Rmb 100/ton to Rmb 8500/ton.
 
US dollars quotations for Rhodia and Asahi Kasei goods were $2600/ton which was on a par with that of last month. Settlements were heard lower. High end imported goods offers were Rmb 18200-18500/ton.
 
 
For upstream raw materials, this week domestic maleic anhydride market upturned pushed by rising raw materials numbers and end demand. At present, producers had confidence for the outlook. Domestic calcium carbide presented stable. After adjustment of pricing, all producers maintained the steady sales. While September saw weak deals, whole operation capacities presented steady. There were low calcium carbide stock while healthy business activities. As at present calcium carbide nomination were still rising and availabilities were not sufficient, many downstream plants had cut down its operation rates or were shut down. Worse still, PVC insipid demand pushed calcium carbide pricing. calcium carbide mainstream trading values were Rmb 4350-4450/ton while in east China while butadiene pricing in east China slipped which lessoned BDO production cost. Upstream raw material (maleic anhydride, calcium carbide) saw obvious increase, which propped BDO market.
 
This week homemade BDO market was in chaos. Some producers were not willing to quote due to limited supplies. Bulk goods quotations differed greatly with growth range recorded at Rmb 25000-26000/ton. Some high value reached at Rmb 26000-26500/ton while settlements were Rmb 25000-25500/ton. Downstream users resisted the high end goods and small orders were implemented at a steady manner. Imports this week were heard at Rmb 28000-29000/ton with good sales.
 
PO (propylene oxide): This week PO market presented steady and trended healthy. International oil pricing gave little support and downstream polypropylene market declined, worse still, powders resisted the high value propylene, whole market demand slowed. At the mid of this week, all big refining factories reported low business activities and part of plants resume, which pressurized propylene quotations.  
 
At present Shandong propylene mainstream trading value was reported at Rmb 12100/ton, down Rmb 150/ton versus that of last week; liquefied chlorine market presented low demand. Thanks to good sales of liquid caustic soda, business presented fluctuating, chlorine plants operated at low capacities, which also made liquefied market volatile. At present, Shandong liquefied ex-works were kept at Rmb 300-900/ton. Low end goods were sufficient.
 
This week domestic PO facilities operated at unstable manner, which pushed up market nominations. Fangda Jinhua PO plants restarted with normal capacities. Zhenhai refining chemical 285kt/y PO/SM facilities were shut down for 3-4 days, which would squeeze 800tons daily supplies. Shandong Befar 115kt/y were shut down and Shenyang Jinbilan chemical 40kt/y device was also reported off-line. Limited imports and sharp fall of domestic supplies pushed quotations. Growth range was Rmb 100-400/ton. Downstream took a cautious manner, buying on a hand to mouth manner.
 
Up to now, PO mainstream trading values were mainly negotiated at Rmb 15800-15900/ton in east China while Rmb 15500-15700/ton in north China.
 
PPG: This week rigid PPG market kept steady. PO high quotations pushed mid and high end goods numbers. In terms of feedstock, Zhenhai refining chemical and Shandong Befar plants were all shut down, which damped the market due to limited imports. Thanks to PO devices frequent closures and Shenyang Jinbilan facilities 1 week off-line, producers had confidence for the future market. At the beginning of this week, some producers lifted the nominations while at present some producers adjusted upward the quotations while downstream purchased reasonably. Up to now, PO mainstream trading values were negotiated at Rmb 15800-15900/ton in east China while Rmb 15500-15700/ton in north China. 
 
At present rigid PPG demand was insipid while some producers reported slight increase of quotations while with limited increase range. At the beginning of this week, PO pricing went up, which pushed up rigid PPG quotations. Downstream buying interest presented slow. With PO facility went off-line, low value PO was rarely heard. Rigid PPG producers were forced to lift nominations due to high feedstock values. At the end of this week, PPG reported steady sales. Downstream traders transacted on hand to mouth basis on the back of high feedstock cost and limited capitals. Whole market kept steady with mid and high dealing price run at increasing level.
 
At present rigid PPG high end pricing was mainly negotiated at Rmb 15500-15700/ton while mid end goods were Rmb 14800-15200/ton. Low end was heard at Rmb 13800-14500/ton.
 
This week flexible PPG market was reported steady. Pricing went up pushed by PO trading value upturn. In terms of feedstock, Zhenhai refining chemical and Shandong Befar plants were all shut down, which damped the market due to limited imports. Thanks to PO devices frequent shut-down  and Shenyang Jinbilan facilities 1 week off-line, producers had confidence for the future market. At the beginning of this week, some producers lifted the nominations while at present some producers adjusted upward the quotations while downstream purchased reasonably. Up to now, PO mainstream trading values were negotiated at Rmb 15800-15900/ton in east China while Rmb 15500-15700/ton. 
 
At this week, PO market presented upward trend, which propped PPG market. At the beginning of this week, some PO producers lifted pricing. In east China flexible PPG was quoted at Rmb 200/ton due to high raw materials cost and healthy downstream demand. In north China pricing presented steady with limited cargos and reasonable feedstock cost. At the mid of week, north market was heard Rmb 200/ton growth for PPG pricing. So buying interest for PPG was strong while PO pricing was likely to plunge due to increasing imports. So producers transacted on make-to-order basis. PPG market was only had a minor upturn.  
 
Up to now, east China and south China flexible PPG was mainly traded at Rmb 16000/ton while Rmb 15800-16000/ton in north China.
 
Solvent
 
 
Bulk DMF was priced at Rmb 6200-6300/ton in Jiangsu and Zhejiang Province, Rmb 6100-6200/ton in north China and Shandong, and Rmb 6400-6500/ton in Guangzhou and Fujian.
 
In terms of raw material methyl alcohol market, negotiation sentiment was good. Quotation was settled at Rmb 3200-3250/ton in Jiangsu area; Ningbo methyl alcohol was negotiated around Rmb 3310-3320/ton while materials were traded at Rmb 3100-3120/ton in south China.
 
MEK: Overall MEK market dropped. Materials were squeezed in Fushun and Ningbo, but downstream market resumption depressed traders resulted from slow consumption and previous steep price rising. Some dealers lessened material price to ensure regularly delivery goods.
 
 
Downstream
 
 
Wet PU coatings were offered around Rmb 12500-13000/ton in Jiangsu and Zhejiang provinces, Rmb 12400-12900/ton in north China and Shandong area while Rmb t12600-13100/ton in Guangzhou and Fujian. Dry PU coatings were priced at Rmb 13500-14000/ton in Jiangsu and Zhejiang, Rmb 13400-13900/ton in north China and Shandong and Rmb 13600-14000/ton in Guangzhou and Fujian area
 
Jiangnan Valve Co., Ltd applied to people’s court in Longwan District for Zhejiang Jiangnan Leather Corporation’s bankruptcy liquidation because of its failing in paying off due debt. The court accepted and heard the application on 9th September and assigned Affairs Office of the people’s Government of Zhejiang Province as custodian of Jiangnan Leather Corporation. Debtor would have 2 months to report debt to custodian from 9th September.
 
Spandex: Approaching peak period of textile market, the expected offers from end market failed in emerging and traders kept on the fence because of previous stockpile. Under the circumstance, market turned to drop and dealers rejected to buy at high price. New orders were high priced which stimulated the negotiation price, but most plants felt depressed by the weak operation rates and lift of surplus capacity. 40D was traded around Rmb 43000-47000/ton.
 
Sole Resin: Sole resin market ran stably at 60% rates. Current number of sole resin was settled around Rmb 20800-21000/ton in east China and Rmb 21000-21300/ton in south China.
 
As to raw materials, AA list price was low quoted at Rmb 18700/ton; pure MDI market remained while Yantai Wanhua's feedstock list price settled at Rmb 20200-20600/ton; BDO market performed bullish due to tight availability; DEG market insipidly swung influenced by crude oil market, Zhangjiagang DEG was offered at Rmb 9300-9350/ton while Guangzhou DEG price hovered around Rmb 10000/ton.
 
To promote its shoe manufacturing resuscitation, Mexico government announced to limit imports from China and levy compensatory quota.
 

 

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