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Home | News |Weekly Polyurethane Market Review (August 26, 2013- August 30, 2013)
Weekly Polyurethane Market Review (August 26, 2013- August 30, 2013)
Updated: 2013-09-02 16:53 Source: PUWORLD share:

Market Review

This week most products exhibited fall-back for lacking demand supports, and some continued upside. Trends in detail:

Isocyanate

Pure MDI: This week pure MDI players intended to raise quotations but demand remained insipid. Raw material benzene was upward adjusted while aniline insiders kept on the fence. Peak season had limited impacts on downstream sectors. Wanhua increased its list price by Rmb 200/ton, but seemed to have no distinct support to market.

Till now pure MDI prices were heard at Rmb 19500-2-100/ton in east China, Shanghai goods were valued at Rmb 19500-20000/ton while materials from Wanhua and NPU pegged at Rmb 20000-20100/ton. In south China, mainstream MMDI prices hovered at Rmb 19600-20300/ton, shanghai feedstock was announced at rmb 19600-20000/ton, while cargoes from Wanhua and NPU were at Rmb 20000-20300/ton.

Polymeric MDI: PMDI rolled over at weak stance this week. Suppliers had strong intention for firming prices under support from raw materials, but downstream sectors demanded limitedly for materials. Market is expected to remain the same in the near term.

PM200 in east China, north China and south China was negotiated at Rmb 17500-17700/ton, shanghai goods moved from Rmb 17400-17600/ton to Rmb 17300-17500/ton, cargoes from Japan and south Korea dropped from Rmb 17200-17400/ton to Rmb 17100-17300/ton. In north China, PM200 was adjusted from Rmb 17600-17800/ton, shanghai goods moved from Rmb 17,500-17,700/ton to Rmb 17,300-17,500/ton, cargoes from Japan and south Korea dropped from Rmb 17,100-17,300/ton to Rmb 17,000-17,200/ton. In south China, PM200 was from Rmb 17,600-17,800/ton to Rmb 17,600-17,700/ton, shanghai goods were heard at Rmb 17,500-17,600/ton, cargoes from Japan and south Korea dropped from Rmb 17,100-17,300/ton to Rmb 17,000-17,200/ton.

TDI: This early week Gansu Baiyin and Shanghai BASF announced contract prices and plants upgraded list prices, however, downstream kept in stalemate. In the mid week, imports supply in south China was ample with negotiation room remained and some distributors had strong intention for shipment.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 22500-23000/ton while homemade goods (with tax) were reported at Rmb 22200-22500/ton. In east China, homemade feedstock (with tax) was heard at Rmb 22500/ton while price for Shanghai goods (with tax) settled at Rmb 22800-23000/ton. In south China, price for homemade materials (without tax) was said at Rmb 22,000-22,100/ton while shanghai goods (without tax) were heard at Rmb 22,300-22,500/ton, imports were heard at 21,700-21,800/ton without tax.

Polyol

AA (Adipic Acid): Adipic acid price tended to go upward this week. However, as downstream demand continued to be weak, negotiation prices kept unimproved. Raw material benzene price was lifted by Rmb 100/ton to Rmb 9250-9400/ton in east China (pick up by clients). Some downstream application showed signs of turning better. Orders in TPU and shoe resin industries were quite good while conditions in PU coatings market were comparatively weaker. Operating rates are kept at 40-50%. Need to pay attention to unit dynamic of Shuyang Chemical.

Till now, Shandong and Xinjiang materials were mainly traded at Rmb 11000-11200/ton (by acceptance), Rmb 10900-11000/ton (spot exchange) in east China and Rmb 11000-11200/ton in south China. Goods from Liaoyang petrochemical were pegged at Rmb 12500-12800/ton in east China and Rmb 12300-12900/ton in south China.

BDO: Transactions in domestic BDO market were mediocre this week. Although insiders had strong willing to lift price up and they held high expectation for approaching golden months, enquiries from downstream buyers failed to be a satisfaction. Most of them place orders according to demands. In addition, new order negotiation in downstream application areas went on slowly. There was no obvious up adjustment of downstream operating rate heard. BDO buyers intended to purchase raw material at a lower price.

As to prices, spot materials were heard at Rmb 13500-13700/ton (small order, by acceptance). Drum goods were heard at Rmb 14400-15500/ton. Imports were hovered at $1900-3000/ton with negotiation room remained, high price for drummed goods while low price for bulk cargoes.

PO (propylene oxide): PO market presented soft-to-firm this week. Early in the week, some manufacturers in Shandong down regulated their quotations and market price dropped in that area. Luckily, prices in east and south China didn’t follow it up. And markets in those two regions presented stable and quiet. But down adjustment appeared again in Shandong in mid week and this time, prices in east and south China dropped slightly as well. Market condition turned better towards the end of the week as raw material propylene and liquid chlorine reached a high level. PO market will keep stable within a short period.

Currently PO prices were heard at Rmb 12500-12700/ton (delivered, by cash) in east China; price in Shandong and north China was reported at Rmb 12500-12600/ton (ex-works, by acceptance).

PPG: Players witnessed small decrease in domestic flexible PPG market this week. Price in Shandong took the lead to drop, which was followed by market in east China. Market in south China was relatively quiet.

Common flexible PPG was heard at Rmb 13100-13300/ton (ex-works, by cash) in Shandong and north China, Rmb 13400-13500/ton in south China and Rmb 13300-13400/ton (delivered, by cash) in east China.

Rigid PPG price presented stable. Players were cautious when offering quotations and we barely see any change in terms of price.

In east China, high-end 4110 was firmed at Rmb 12100/ton (ex-works, barreled goods) while low-end goods were heard at Rmb 11500/ton. In Shandong and north China, high-end kept at Rmb 12000-12200/ton (ex-works by acceptance), while middle-end at Rmb 11800-11900/ton. In south China, high end product of 4110 was heard at Rmb 12100/ton and middle-end at Rmb 11900/ton.

Solvent

DMF: DMF market kept at weak side and manufacturers were under sales pressure. Raw material carbinol price kept ramping up, but downstream demands remained quite weak. Except Anhui Huaihua and Luxi Chemical, which shut down units, all other manufacturers operated around 60-70%. Till now, goods were quoted around Rmb 5,200-5,400/ton (delivered, by acceptance) in Jiangsu and Zhejiang. Quotations and negotiations were reported at Rmb 5000-5200/ton in north China and Shandong. Homemade goods were settled at Rmb 5400-5600/ton (delivered, by acceptance) in Guangzhou and Fujian.

MEK: Downstream demand for MEK showed insipid. Holders were interested in selling goods while buyers, on the contrary, were not active in placing orders. Mainstream negotiation price headed to downswing. Quotation in east China fell to Rmb 8200-8300/ton (bulk, ex-works), low-end price in Jiangsu and high-end price in Ningbo. Price in south China was firmed at Rmb 8700-8900/ton.

Downstream

PU Coating Systems: PU coatings presented insipid and no distinct improvements in downstream orders. However, operation rates would increase gradually in the late period since some leather plants began to stocking up materials.

Wet PU coatings were negotiated at Rmb 9500-10000/ton while traded at Rmb 9200-9700/ton and dry goods were heard at Rmb 10200-10600/ton in Jiangsu and Zhejiang. Nominations of wet goods were Rmb 9700-10000/ton and Rmb 10300-11000/ton for dry goods in north China and Shandong areas. Guangzhou and Fujian market quoted at Rmb 9800-10200/ton for wet goods and Rmb 10600-11200/ton for dry goods.

Spandex: The long tight supply and stable consumptions from downstream contributed to spandex market. This week, most spandex plants gradually increased selling prices by Rmb 1000-2000/ton, but there still remained some impacts from slack season. Till now 40D was heard at Rmb 48000-55000/ton while 20D firmed at Rmb 58000-66000/ton. Downstream some weaving mill maintained high operations thus spandex prices kept rising although in slack season.

Sole Resin: Sole resin market turned better with some large plants operating at 70-80% while most running at 30%-40%.

Till now general resin was quoted at 17000-18000/ton in Jiangsu and Zhejiang, while Rmb 17500-18500/ton in Guangzhou and Fujian.

TPU: TPU this week kept flat with downstream sectors remained in slack season. Operation rates were heard at 50%-70%, and some were higher. As to near future market, some plants now are facing decreasing inventory and rising raw materials cost, but supports were limited.

Pure polyester (80A-95A) BG TPU was quoted at Rmb 23,000-24,500/ton while pure EG TPU was quoted at Rmb 18000-19000/ton. Mainstream price was close to low end. Polyester TPU used in cable was quoted at Rmb 25000-27000/ton while that applied in film was heard at Rmb 25000-26000/ton. Polyether TPU used in cable industry was heard at Rmb 37000-38000/ton. Polyether TPU was quoted at Rmb 40000-60000/ton in south China. Manufacturers offer specific price for each order.

 

 

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