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Home | News |Weekly Polyurethane Market Review (January 6, 2014- January 10, 2014)
Weekly Polyurethane Market Review (January 6, 2014- January 10, 2014)
Updated: 2014-01-13 15:38 Source: PUWORLD share:

Market Review

Small decline spread to all PU products markets this week. Downstream applications all presented lackluster. Some factories have already shut down facilities or reduced production to prepare for coming Spring Festival. Consumption for raw materials will turn less and less from now on. Trends in detail:

Isocyanate

Pure MDI: There were very limited deals closed in pure MDI market this week restricted by soft downstream demands. Market will probably keep presenting stable-to-soft for the rest of this month.

In east China, mainstream quotation was heard at Rmb 18900-19200/ton. NPU quoted at Rmb 19300-19400/ton. In south China, mainstream quotation was heard at Rmb 19300-19400/ton while NPU quoted at Rmb 19600-19700/ton. In north China, mainstream quotation was settled at Rmb 19300-19500/ton while NPU quoted at Rmb 19600-19700/ton.

Polymeric MDI: Facing slack demand from downstream markets, goods dealers surrendered profits to promote sales. Polymeric MDI turned even softer. Most polymeric MDI buyers were keeping on the fence and placed orders on hand-to-mouth basis as they were expecting price to drop further.

In east China, PM200 from Wanhua dropped to Rmb 16100-16300/ton, goods from BASF were heard at Rmb 15800-16000/ton, goods from Japan and south Korea were heard at Rmb 15400-15500/ton; In north China, PM200 from Wanhua were reported at Rmb 16200-16300/ton, goods from Shanghai sources were reported at Rmb 16000-16100/ton, goods from Japan and south Korea were reported at Rmb 15500-15600/ton; in south China, PM200 from Wanhua kept at Rmb 16500-16600/ton, goods from BASF were heard at Rmb 16200-16400/ton while goods from Japan and south Korea were settled at Rmb 16000-16100/ton.

Liquefied MDI: Supply-demand contradiction still exists in liquefied MDI market. Insiders are expecting market to turn even weaker. They chose to ride on the fence now.

BASF MM103C was quoted at Rmb 20800/ton this month. Wanhua announced its January 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: Fujian southeast electrochemical finished test run and will probably start production after Spring Festival. Supplies presented stable for the moment. Dealers tried hard to promote sales while downstream placed orders according to demands.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 19600/ton while homemade goods (with tax) were reported at Rmb 19300-19400/ton. In east China, homemade feedstock (with tax) was heard at Rmb 19100/ton while price for Shanghai goods (with tax) settled at Rmb 19500/ton. In south China, price for homemade materials (without tax) was said at Rmb 18800-18900/ton while Shanghai goods (without tax) were heard at Rmb 19100-19200/ton.

Polyol

AA (Adipic Acid):  This week adipic acid market rolled over. Upstream raw materials continued firming, thus AA plants had low interest in stock-up. Downstream sectors were affected the approaching Spring Festival, focused on production reduction and facility closure.

 Till now, in east China, goods from Shandong Haili were heard at Rmb 10500-10800/ton while materials from Liaoyang Petrochemical were quoted at Rmb 12000-12300/ton. In south China, quotations from Shandong Haili were settled at Rmb 10600-11000/ton while goods from Liaoyang Petrochemical were quoted at Rmb 12800-13000/ton. In north China, materials from Shandong Haili were reported at Rmb 10600-10800/ton while goods from Liaoyang Petrochemical were priced at Rmb 12000-12200/ton.

BDO: This week BDO market remained stable with mediocre purchasing enthusiasm reflected in downstream sectors. Suppliers kept prudent on quotations.

In east China, spot materials were heard at Rmb 13200-13400/ton by acceptance and Rmb 13000-13200/ton by cash. In south China, bulk goods were heard at Rmb 13300-13550/ton (by acceptance) while drummed goods at Rmb 14000-15000/ton. For import goods, restricted by weak demands, most importers were busy with contract orders and there were no quotations heard in spot market. Downstream buyers mainly purchase homemade goods.

PO (propylene oxide): Propylene oxide quotations from manufacturers were in line with last week. Negotiation sentiment weakened further and downstream players purchased materials at a hand-to-mouth basis. Market was expected to keep firm in near future.

Currently PO prices were heard at Rmb 14800-15000/ton (delivered, by cash) in east China; price in Shandong and north China was reported at Rmb 14600-14700/ton (ex-works, by acceptance, 20%-30% cash requested).

PPG: Flexible PPG firmed at high, but these high quotations were not accepted by downstream players. Market is likely to still keep at high. Common flexible PPG was heard at Rmb 15200-15300/ton (ex-works, by cash) in Shandong and north China, Rmb 15500-15600/ton in south China and Rmb 15500-15600/ton (delivered, by cash) in east China.

Rigid PPG market rolled over this week and producers mainly stabilized their quotations when meeting with cost pressure. In east China, high-end 4110 was stabilized at Rmb 13300-13500/ton (ex-works, barreled goods) while low-end goods were heard at Rmb 12700/ton. In Shandong and north China, middle-end goods kept at Rmb 12800/ton (ex-works by acceptance), while high-end at Rmb 13100-13300/ton. In south China, high end product of 4110 was heard at Rmb 13600-13700/ton and middle-end at Rmb 13000-13200/ton.

Solvent

DMF: DMF downstream operations were affected by approaching Spring Festival and at 30%-40% now. Therefore, DMF market lacked strong supports. Till now, goods were quoted around Rmb 5400-5600/ton in south China, and Rmb 5300-5500/ton in Jiangsu and Zhejiang.

MEK: MEK fluctuated limitedly this week, coupled with insipid negotiation sentiment. Traders mainly kept on the fence as downstream players now had no intention for stock-up. Market is likely to soften further since mid January. Mainstream negotiation price was heard at Rmb 9650-9750/ton in south China and Rmb 9450-9550/ton in east.

Downstream

PU Coating Systems: PU coating systems market was much weaker this year compared to previous years, which resulted in early shutdown or output reduction before Spring Festival. Viewing current soft demand, market will probably turn more sluggish. Operation rate has fallen to 30-40% now.

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: Spandex market was stable this week. Factories maintained a stable operating rate and purchase raw materials according to needs. 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: Operating rate in sole resin market was affected by approaching Spring Festival. Demands for raw materials shrank. Goods are quoted at Rmb 17000-18000/ton in Jiangsu and Zhejiang while Rmb 17500-18000/ton in Guangzhou and Fujian.

TPU: As Spring Festival approaches, Chinese local factories down adjusted operating rate to 40%. Operating condition in foreign companies also presented lower compared to previous days but most of them maintained a stable level. Players previously expected increasing orders in New Year, but it didn’t happen.

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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