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Home | News |Weekly Polyurethane Market Review (March 10, 2014- March 14, 2014)
Weekly Polyurethane Market Review (March 10, 2014- March 14, 2014)
Updated: 2014-03-17 10:51 Source: PUWORLD share:

Market Review

Although it is approaching traditional peaks season, the long-expected heavy demand didn’t come true. Mainstream PU manufacturers offer stable quotations and traders sell goods according to market price. Trends in detail:


Pure MDI: Pure MDI market remained stable this week. At the beginning of this week, manufacturers firmed their quotations and traders offered stable prices, but there were thin deals closed supported by rigid demand. Weakness stance continued in mid week and traders were worried about sales. Some high-price sources started to lower quotations slightly.

In east China, mainstream quotation was heard at Rmb 19300-19700/ton. NPU and Wanhua quoted at Rmb 19600-19700/ton. In south China, mainstream quotation was heard at Rmb 19400-19800/ton while NPU and Wanhua quoted at Rmb 20000/ton. In north China, mainstream quotation was settled at Rmb 19400-19800/ton while NPU and Wanhua quoted at Rmb 20000/ton.

Polymeric MDI: PMDI market hovered around a low level this week. Early in the week, PMDI manufacturers offered stable quotations, however downstream buying enthusiasm was quite low as recovery this year presented quite slower compared to previous years. Prices tended to turn downward in mid week as traders were eager to deliver goods. The whole market presented bearish in week end as downstream buyers only placed orders to meet rigid demands. PMDI price will probably fluctuate within a certain range in near future. Players are paying attention to recovery in downstream areas.

In east China, PM200 from Wanhua was heard at Rmb 17000/ton, goods from BASF were heard at Rmb 16600-16800/ton, goods from Japan and south Korea were heard at Rmb 16500/ton; In north China, PM200 from Wanhua were reported at Rmb 17000-17200/ton, goods from Shanghai sources were reported at Rmb 16600-16800/ton, goods from Japan and south Korea were reported at Rmb 16500/ton; in south China, PM200 from Wanhua kept at Rmb 17200-17300/ton, goods from BASF were heard at Rmb 16800-17000/ton while goods from Japan and south Korea were settled at Rmb 16700-16800/ton.

Liquefied MDI: Liquefied MDI market was stable. Quotations were lifted in March, but negotiation level didn’t follow up restricted by insipid downstream demand. Although manufacturers have strong will to firm market price, dragged down by thin orders, there were no improvements heard concerning overall negotiation range. Supplies were stable. BASF firmed their quotations supported by tight supply while NPU was still adjusting operating rate. Imbalance between supply and demand still exists.

BASF MM103C was quoted at Rmb 21300/ton this month with limited goods supplied to the market. Wanhua announced its March list price at Rmb 23200/ton, up by Rmb 500/ton compared to previous month. Bayer CD-C was mainly negotiated at Rmb 20500/ton. Negotiations of Kumho LL and NPU were respectively pegged at Rmb 20500/ton and $2750/ton.

TDI: TDI price softened. Although manufacturers announced high list prices, there were sufficient goods available in the market and downstream demands didn’t follow up. Negotiation price headed to downswing slightly. Yantai Juli announced 20-day maintenance in May, BASF has plans to undertake 20-day next month and Fujian Southeast Electrochemical aimed to overhaul in April and May, but all these maintenance plans haven’t shown any impact on current market.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 20000/ton while homemade goods (with tax) were reported at Rmb 19400-19500/ton. In east China, homemade feedstock (with tax) was heard at Rmb 19000-19200/ton while price for Shanghai goods (with tax) settled at Rmb 19600-19800/ton. In south China, price for homemade materials (without tax) was said at Rmb 18500-18600/ton while Shanghai goods (without tax) were heard at Rmb 18900-19000/ton. Goods from Fujian Southeast Electrochemical were negotiated at Rmb 18200-18300/ton.


AA (Adipic Acid): Adipic acid market continued the soft performance. Early this week Liaoyang Petrochemical stopped production, and upstream benzene prices were downward adjusted, negotiations in traders’ side slid down. Although the traditional peak season is approaching, plant operations still kept at 50%.

Till now Haili negotiations were heard at Rmb 10500-10900/ton in east China, Rmb 10800-10900/ton in south China and Rmb 10700-10900/ton in north China. Xinjiang materials were quoted at Rmb 10800-10900/ton in east China while Rmb 10900-11000/ton in south China. Feedstock from Liaoyang Petrochemical was negotiated at Rmb 12000-12300/ton in east China and north China, while Rmb 12800-13000/ton in south China.

BDO: BDO market remained stable as downstream kept on-demand procurement. The new capacity has no distinct impact on spot market, and producers were said as active in firming market. Changlian Chemical (Panjin) was reported of product trials for contact customers, and could be formal supply in the late period. Chongqing Chiyuan BDO facility was still under initial operation and has no output now.

Bulk spot BDO was negotiated at Rmb 13500-13650/ton in east China, Rmb 13500-13700/ton in south China. Drum goods were quoted at Rmb 14200-15500/ton (non-mainstream). As to imports, Mitsubishi quoted in March at $2650/ton, down by $100/ton compared with last month.

PO (propylene oxide): Propylene oxide market this week firstly kept stable and then moved up. Early this week producers kept wait-and-see stance, but due to good condition in supply side, market prices rose in the second half week. It was heard that operations in Shandong district slowed down due to environment issue, as a result that supply would continue being tight. However, PPG plants were resistant to high raw material cost.

Till now, propylene oxide in Shandong and north China was quoted at Rmb 14700-14800/ton (ex-works by acceptance) and Rmb 14300-14400/ton by cash. Negotiations in east China pegged at Rmb 14800-15100/ton (delivered by cash).

PPG: Flexible PPG market was in stalemate suppressed by high raw material cost but slow demand recovery from foaming sector. Flexible PPG was quoted at Rmb 14800/ton (ex-works by cash) in Shandong and north China, Rmb 15000-15200/ton (delivered by cash) and Rmb 15100/ton delivered in south China.

Rigid PPG market this week stood steady. PPG market was supported by firm PO quotations but still met pressure from demand. Rigid PPG market is expected to roll over in the near term. In east China, high-end 4110 stabilized at Rmb 1310-13300/ton while low-end goods were heard at Rmb 12600/ton. In Shandong and north China, middle-end goods kept at Rmb 12600/ton, while high-end at Rmb 12900-13100/ton. In south China, high end product of 4110 was heard at Rmb 1350-1370/ton and middle-end at Rmb 130-1330/ton.


DMF: This week market was reported of limited deals although the traditional peak season is arriving. This week Hualu Hengsheng completed its maintenance. Market availability was ample while demand seemed not good. As far as now, mainstream trading values pegged at Rmb 5300-5500/ton in Jiangsu and Zhejiang, while Rmb 5500-5600/ton in south China.

MEK: MEK producers firmed quotations earlier and then undersold materials in the late week due to insipid demand. Downstream plants were mainly consuming inventory.

Till now, mainstream negotiation numbers were heard at Rmb 9300-9400/ton in east China and Rmb 9500-9600/ton in south China.


PU Coating Systems: Coatings market remained stable with operating rate kept at 50%. Coating manufacturers were having weak intention to purchase raw materials, mainly consuming inventories.

Wet PU coatings were negotiated at Rmb 9300-9700/ton and dry goods were heard at Rmb 9800-10200/ton in Jiangsu and Zhejiang. Nominations of wet goods were Rmb 9500-10100/ton and Rmb 10000-10700/ton for dry goods in north China and Shandong areas. Guangzhou and Fujian market quoted at Rmb 9500-10100/ton for wet goods and Rmb 10000-11000/ton for dry goods.

Spandex: Trading sentiment was flat in spandex market this week with manufacturers mainly delivered goods to contract clients. Some large factories tried to lift price for certain batches supported by low inventory and fair demand, but downstream weaving manufacturers didn’t buy the up adjustment. In addition, the National People's Congress and the Chinese People's Political Consultative Conference are still in progress, manufacturers were waiting for supportive policies. Downstream circular knitting and yarn markets were mediocre. Although operating rates were heard at 70%, there were restrictions from end user industry. 40D manufacturers in Xiaoshan and Shaoxing were still under sales pressure while cotton bale market only operated at 30-40% in Shandong.

Prices for 40D were heard at Rmb 48000-53500/ton while 20D and 30D were heard at Rmb 59000-66000/ton and Rmb 55000-58000/ton respectively.

Sole Resin: There were limited fluctuations heard in shoe sole market and manufacturers didn’t intend to adjust quotations for the moment.

Goods are quoted at Rmb 17000-18000/ton in Jiangsu and Zhejiang while Rmb 17500-18000/ton in Guangzhou and Fujian.

TPU: Domestic TPU market ran stably this week with operating rate in south China kept at 50-70%, but demands still presented thin. Polyester TPU factories ran at 40-50% in east China. Weak raw materials market failed to offer supports to TPU market.

Pure polyester (80A-95A) BG TPU was quoted at Rmb 22,500-24,500/ton while pure EG TPU was quoted at Rmb 18000-18500/ton. 65E pure BG from Baoding Bangtai was negotiated at Rmb 26000/ton while 66 series was heard at Rmb 27000-28000/ton; UT 590 with medium transparency was heard at Rmb 40000/ton while goods with high transparency were reported at Rmb 42000/ton; polyether TPU used in cable was quoted at Rmb 37000-38000/ton. Polyether TPU was quoted at Rmb 40000-6000/ton in south China.


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