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Home | News |Weekly Polyurethane Market Review (December 23, 2013- December 27, 2013)
Weekly Polyurethane Market Review (December 23, 2013- December 27, 2013)
Updated: 2013-12-30 17:21 Source: PUWORLD share:

Market Review

PU market ran stably in fourth week of December. Flexible PPG manufacturers lifted quotations in accordance with increasing raw material PO. Trends in detail:

Isocyanate

Pure MDI: Pure MDI market presented quiet this week as insiders were acting cautiously at the end of the year. So far, mainstream factories haven’t announced settlement prices yet. Downstream industries were neither interested in manufacturing nor purchasing raw materials at this moment. It is heard that phase one unit of Wanhua (Ninbo) and facility of Huntsman will restart soon. Negative expectation dominated the market.

In east China, mainstream quotation was heard at Rmb 19000-19300/ton. NPU quoted at Rmb 19400-19500/ton. In south China, mainstream quotation was heard at Rmb 19300-19500/ton while NPU quoted at Rmb 19800/ton. In north China, mainstream quotation was settled at Rmb 19300-19500/ton while NPU quoted at Rmb 19600-19700/ton.

Polymeric MDI: Soft atmosphere extended from last week to this week in polymeric MDI market as negotiation prices were heading to downswing and buyers only placed orders to meet rigid demand.

In east China, PM200 from Wanhua kept at Rmb 16700-16800/ton, goods from BASF were heard at Rmb 16000-16200/ton, goods from Japan and south Korea were heard at Rmb 15800-15900/ton; In north China, PM200 from Wanhua were reported at Rmb 16800-16900/ton, goods from Shanghai sources were reported at Rmb 16100-16300/ton, goods from Japan and south Korea were reported at Rmb 15800-15900/ton; in south China, PM200 from Wanhua kept at Rmb 16800-17000/ton, goods from BASF were heard at Rmb 16300-16500/ton while goods from Japan and south Korea were settled at Rmb 16300/ton.

Liquefied MDI: The majority of deals were closed at the lower-end of negotiation range dragged down by insipid demand. In addition, there were some downstream buyers demanding a lower price, which made market condition even worse.

BASF MM103C was quoted at Rmb 20800/ton this month. Wanhua announced its December list price at Rmb 21800/ton, same as last month. Bayer CD-C was mainly negotiated at Rmb 20200-20400/ton. Negotiations of Kumho LL and NPU were respectively pegged at Rmb 20300-20500/ton and $2600/ton.

TDI: Under inventory pressure, cargo-holders tried hard to promote sales. However, as one 50 ktpa unit of Fujian Southeast Electrochemical is about to be put into operation next month, insiders were expecting market to turn even weaker. As PPG price hit a high level, downstream buyers organized procurement on a hand-to-mouth basis. Supported by cost, TDI price will probably be kept at current level within a short period.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 19800/ton while homemade goods (with tax) were reported at Rmb 19400-19500/ton. In east China, homemade feedstock (with tax) was heard at Rmb 19300-19400/ton while price for Shanghai goods (with tax) settled at Rmb 19600-19700/ton. In south China, price for homemade materials (without tax) was said at Rmb 19000/ton while Shanghai goods (without tax) were heard at Rmb 19300-19400/ton.

Polyol

AA (Adipic Acid):  This week adipic acid market rolled over again. Liaoyang Petrochemical announced its settlement prices at Rmb 12400/ton in east China while Rmb 12300/ton in north China, Xinjiang Dushanzi announced at Rmb 10800/ton, and Shandong Haili was expected to settle around Rmb 10600/ton. Downstream sectors had limited demand for stock-up.

Shandong Haili materials were negotiated at Rmb 10500-10800/ton in east China and north China, while Rmb 10600-10900/ton in south China. Liaoyang Petrochemical quoted its feedstock at Rmb 12000-12300/ton in east China, Rmb 12800-13000/ton in south China and Rmb 12000-12100/ton in north China.

BDO: BDO market softened to touch cost line. Insipid inquiry and limited dealings were eyed this week.

Spot materials were negotiated at Rmb 13300-13550/ton by acceptance while Rmb 13150-13300/ton by cash in east China. In south China, bulk goods were negotiated at Rmb 13300-13550/ton while drum materials at Rmb 14000-15000/ton. Few quotations about imports were heard. Downstream players prefer homemade goods.

PO (propylene oxide): PO prices firmed after increase. Since last weekend, Shandong and north China producers had successively upward adjusted quotations. Plants remained stable operations and downstream players started to reject to buy at high cost. PO market was expected to remain stable or move up.

PO prices moved from Rmb 14300-14500/ton to Rmb 14600-14800/ton ex-works by acceptance in Shandong and north China, while numbers climbed from Rmb 14300-14500/ton to Rmb 14600-14800/ton delivered by cash in east China.

PPG:  Flexible PPG market followed PO trend which stabilized after rise. Flexible PPG was heard at Rmb 15200-15300/ton in Shandong and north China, Rmb 15300-15400/ton in south China while Rmb 15300-15400/ton delivered by cash in east China.

Rigid PPG market also remained stable after increase and was expected to keep the stance in the near term. In east China, high-end 4110 stabilized at Rmb 13,200-13,400/ton while low-end goods were heard at Rmb 12,500/ton. In Shandong and north China, middle-end goods kept at Rmb 12,800/ton, while high-end at Rmb 13,000-13,100/ton. In south China, high end product of 4110 was heard at Rmb 13,000-13,200/ton and middle-end at Rmb 12,600-12,800/ton.

Solvent

DMF: DMF market rolled down this week and demand continued to be sluggish. Prices in Jiangsu province had dropped back to previous level. Till now, quotations were heard at Rmb 5450-5500/ton in east China while Rmb 5550-5700/ton in south China.

MEK: MEK suppliers were narrowing their profit margin and active in shipment, which made market prices slide down. However, downstream had limited demand for materials, and dealings were made limitedly. Till now, mainstream quotations pegged at Rmb 9900-10000/ton in east China and Rmb 10000-10050/ton in south China.

Downstream

PU Coating Systems: There were no improvements heard in PU coatings market. With the approach with Spring Festival, some small factories may start holiday in advance.

Wet PU coatings were negotiated at Rmb 9500-10200/ton while traded at Rmb 9200-9700/ton and dry goods were heard at Rmb 10200-10900/ton in Jiangsu and Zhejiang. Nominations of wet goods were Rmb 9800-10600/ton and Rmb 10400-11200/ton for dry goods in north China and Shandong areas. Guangzhou and Fujian market quoted at Rmb 9800-10600/ton for wet goods and Rmb 10400-11200/ton for dry goods.

Spandex: As recouping funds appeared to be more difficult this year than precious years, downstream factories put more energy to get money back, which resulted in increasing low-price offers in spandex market this week. Prices for 40D were heard at Rmb 49000-54500/ton while 20D were heard at Rmb 59000-66000/ton. For spot trades, shipments were mainly propped by rigid demands.

Sole Resin: Foreign orders turned less this week as many countries were having Christmas. Till now market quotations were heard at Rmb 17000-18000/ton in Jiangsu and Zhejiang while Rmb 17500-18500/ton in Guangzhou and Fujian with negotiation room remained.

TPU: Although some end-user buyers started placing orders for coming New Year, total amount failed to meet players’ expectation. Dragged down by several negative factors like blocked delivery, high inventory and annual settlements, some TPU holders had no choice but to sell goods at low price. Manufacturers had different expectations for various downstream applications. However, supported by good policies, insiders have confidence for market prospect in the coming year.

Pure polyester (80A-95A) BG TPU was quoted at Rmb 22,500-24,500/ton while pure EG TPU was quoted at Rmb 17800-18500/ton. 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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