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Home | News |Weekly Polyurethane Market Review (April 8, 2014- April 11, 2014)
Weekly Polyurethane Market Review (April 8, 2014- April 11, 2014)
Updated: 2014-04-14 16:55 Source: PUWORLD share:

Market Review

All other PU products market presented stable-to-soft except pure MDI, which showed upward supported by several maintenance announcements. Trends in detail:

Isocyanate

Pure MDI: Pure MDI market was very strong at the beginning of this week as Kumho and BASF shut down facility due to air compressor issue. Although NPU facility was started, it didn’t supply goods to the market. Traders worked together with manufacturers to push price up. Offtake in downstream industries was flat with producers delivering goods according to contracts. Lianheng mother liquor unit restarted towards to the end of the week and rectification device of Shanghai BASF is planned to restart on next Monday.

In east China, mainstream quotation was heard at Rmb 19700-20300/ton. NPU and Wanhua quoted at Rmb 20300-20600/ton. In south China, mainstream quotation was heard at Rmb 19800-20600/ton while NPU and Wanhua quoted at Rmb 20800/ton. In north China, mainstream quotation was settled at Rmb 19750-20500/ton while NPU and Wanhua quoted at Rmb 20800/ton.

Polymeric MDI: PMDI market hovered at previous low level. For raw materials, there were limited benzene availabilities and manufacturers firmed quotations. Aniline price was also supported by strong benzene. In terms of demands, negotiation sentiment was rather weak with large factories running at a higher level while small ones presented flat. Conditions failed to reach previous expectations for the busy season and there were large gaps between list price and spot price. Most insiders were keeping on the fence.

In east China, PM200 from Wanhua was heard at Rmb 16300/ton, goods from BASF were heard at Rmb 15800-15900/ton, goods from Japan and south Korea were heard at Rmb 15700-16000/ton; In north China, PM200 from Wanhua were reported at Rmb 16300/ton, goods from Shanghai sources were reported at Rmb 15800-15900/ton, goods from Japan and south Korea were reported at Rmb 157000-16000/ton; in south China, PM200 from Wanhua kept at Rmb 16300-16500/ton, goods from BASF were heard at Rmb 16000-16200/ton while goods from Japan and south Korea were settled at Rmb 16000/ton.

Liquefied MDI: Liquefied MDI market was stable. Negotiation sentiment presented flat in spot market. Facing increasing quotations, buyers presented very cautious and placed orders according to demands. Availabilities were quite tight. Insiders were waiting for demands to turn better.

BASF MM103C was quoted at Rmb 21800/ton this month with limited goods supplied to the market. Wanhua announced its April list price at Rmb 23700/ton, up by Rmb 500/ton compared to previous month. Bayer CD-C was mainly negotiated at Rmb 20900/ton. Negotiations of Kumho LL and NPU were respectively pegged at Rmb 21000/ton and $2750/ton.

TDI: TDI market headed to downswing this week. It was difficult for goods-holders to promote sales restricted by ample supply and soft demand. As TDI price has already been very low, market will probably fluctuate within a small range in near term.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 18500-18800/ton while homemade goods (with tax) were reported at Rmb 18000-18100/ton. In east China, homemade feedstock (with tax) was heard at Rmb 17600-17700/ton while price for Shanghai goods (with tax) settled at Rmb 18400-18700/ton. In south China, price for homemade materials (without tax) was said at Rmb 16500-16800/ton while Shanghai goods (without tax) were heard at Rmb 17500-17700/ton.

Polyol

AA (Adipic Acid): Adipic acid this week headed to downside. Earlier Shandong Haili cut down list price by Rmb 200/ton to Rmb 10500/ton, and meanwhile, materials of Shanxi Yangquan Coal Industry were about to enter market, which arouse increasing supply. Downstream players kept insipid interests in procurement and mainly maintained wait-and-see stance. In the mid week, upstream benzene warmed up a bit, giving market small support.

Till now, goods from Shandong Haili were negotiated at Rmb 10100-10400/ton in east China, Rmb 10400-10700/ton in south China and Rmb 10200-10600/ton in north China. Feedstock from Liaoyang Petrochemical was mainly negotiated at Rmb 12000-12200/ton in east China, Rmb 12500-12600/ton in south China while Rmb 12000-12200/ton in north China. Cargoes from Xinjiang sources were heard at Rmb 10600-10700/ton in east China, Rmb 10600-10800/ton in south China.

BDO: BDO market continued small downturn with availability remained ampel and stable. Spot market softened further in terms of trading sentiment, amd suppliers were active in shipments. Makret was also heard of bargains from downstream sectors, and was expected to remain sliding down in the following week.

Bulk spot BDO was negotiated at Rmb 13200-13300/ton in east China, Rmb 13300-13350/ton in south China. Contract formulate drum was at Rmb 14000-14500/ton. As to imports, Mitsubishi quoted in April at $2600/ton, down by $50/ton compared with last month.

PO (propylene oxide): Propylene oxide market this week eyed drops since downstream inventory remained at high place thus demand weakened. Upstream propylene and liquefied chlorine went up.

Till now, propylene oxide in Shandong and north China was quoted at Rmb 12000/ton (ex-works by acceptance) and Rmb 11600/ton by cash. Negotiations in east China pegged at Rmb 12000-12100/ton (delivered by cash), while mainstream negotiations in northeast hovered at Rmb 11800/ton by cash.

PPG: Flexible PPG market headed towards downside as upstream PO weakened and downstream plants were reported of high raw material inventory. Market was expected to remain weak still in the near term. Flexible PPG was quoted at Rmb 12700-12900/ton (ex-works by cash) in Shandong and north China, Rmb 13000-13300/ton (delivered by cash) in east China and Rmb 13000-13300/ton delivered in south China.

Rigid PPG market also exhibited weak performance under impacts of dropping upstream market and insipid demand. In east China, high-end 4110 was heard at Rmb 13500/ton, middle-end at Rmb 12600-12800/ton by acceptance while low-end goods were heard at Rmb 11000/ton. In Shandong and north China, middle-end goods kept at Rmb 12000/ton, while low-end at Rmb 11100/ton. In south China, high end product of 4110 was heard at Rmb 12900/ton and middle-end at Rmb 12000/ton.

Solvent

DMF: DMF market kept stable this week. Earlier major plants firmed quotations, but with materials of Luxi Chemical and Shaanxi Xinghua successively entering market, availability in east China increased, but demand from downstream showed no improvements. Approaching mid week, market negotiations began sliding down, and traders faced with great pressure and had to destock inventory. As far as now, mainstream trading values pegged at Rmb 5300-5500/ton in Jiangsu and Zhejiang, while Rmb 5450-5500/ton in south China.

MEK: MEK market moved down with purchasing sentiment presented softer and softer. Downstream plants were mainly consuming inventory. Approaching weekend, market prices got complex and some traders upward adjusted their quotations.

Till now, mainstream negotiation numbers were heard at Rmb 9300-9450/ton in east China and Rmb 9550-9600/ton in south China.

Downstream

PU Coating Systems: Coatings market remained stable. The government carried out regulation scheme in synthetic leather industry and plans to cut down production line in Longwan and Economic and Technological Development Zone by 30% before end of June.

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: Offtake in spandex market was stable this week. Demands from weaving industry were mediocre. Some small spandex companies operated low. Downstream weak demand resulted high inventory in spandex market and manufacturers tried hard to promote sales. 40D were traded at Rmb 48000-52800/ton, 20D were negotiated at Rmb 59000-65500/ton and 30D were dealt at Rmb 55000-58000/ton.

Sole Resin: Sole resin market was still stagnant. As manufacturing center of its end-user application footwear industry is moving from China to Vietnam, India and Pakistan where labor cost is even lower.

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 was quite healthy this week with most factories running at 60-70% while smaller ones keeping at 50-60%. Although there were no improvements in demands and competitions turned fiercer, manufacturers kept offering stable quotations.

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 40000-60000/ton in south China.

 

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