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Home | News |Weekly Polyurethane Market Review (April 14, 2014- April 18, 2014)
Weekly Polyurethane Market Review (April 14, 2014- April 18, 2014)
Updated: 2014-04-21 17:02 Source: PUWORLD share:

Market Review

Market remained at weak stance although in peak season due to soft demand. Trends in detail:


Pure MDI: This week pure MDI market rolled over slightly. Early this week market was supported by increases occurred in last week, but with negotiation sentiment softened, and downstream players had limited interest in purchasing raw materials, traders adjusted quotations based on market conditions. Then, with facilities restarted successively, supply was getting stable, and market remained mediocre.

Negotiations were heard at Rmb 19500-20300/ton in east China, Rmb 19700-20600/ton in south China and Rmb 19600-20500/ton in north China. Feedstock from NPU and Wanhua was quoted at Rmb 20300/ton in east China, Rmb 20400-20600/ton in south China and Rmb 20500/ton in north China.

Polymeric MDI: PMDI market weakened this week. Upstream benzene kept firm since CNPC upward adjusted quotations by Rmb 200/ton and benzene inventory kept at low, aniline also increased under support. However, demand remained insipid while supply was heard ample. PMDI market was expected to stabilize at weak stance.

Till now, PM200 was quoted at Rmb 16000/ton in east China and north China, while Rmb 16200-16300/ton in south China. Materials from Shanghai were priced at Rmb 15600-15800/ton in east China, Rmb 15600-15700/ton in north China and Rmb 15800-16000/ton in south China. Feedstock from South Korea and Japan pegged at Rmb 15800-16000/ton in east China and south China, while Rmb 15800-15900/ton in north China.

Liquefied MDI: Liquefied MDI market kept stable but prospect was not bright due to insipid demand. Approaching month end, insiders kept prudent, production suspension in previous days resulted in tight availability of certain brands, but restart of BASF MDI facility made supply condition back to normal state.

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 stopped dropping and rebounded up. Suppliers increased quotations in the mid week and inquiries from downstream also expanded, but actual deals were limitedly. Market was expected to remain stable.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 18,400-18,600/ton while homemade goods (with tax) were reported at Rmb 17,600-17,800/ton. In east China, homemade feedstock (with tax) was heard at Rmb 17,500-17,800/ton while price for Shanghai goods (with tax) settled at Rmb 18,500-18,800/ton. In south China, price for homemade materials (without tax) was said at Rmb 16,800/ton while Shanghai goods (without tax) were heard at Rmb 17,800/ton.


AA (Adipic Acid): Adipic acid market was still tepid this week. Market was mainly supported by rigid downstream demand. There was no improvement in terms of operating rate. As it has already entered middle stage of peak season, insiders were expecting demands to turn weak and they were very cautious when offering quotations. Strong trend in raw material benzene and hydrogenised benzene markets limited downward range.

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 10200-10500/ton in north China. Feedstock from Liaoyang Petrochemical was mainly negotiated at Rmb 12000-12200/ton in east China, Rmb 12600/ton in south China while Rmb 12100-12300/ton in north China. Cargoes from Xinjiang sources were heard at Rmb 10400-10600/ton in east China, Rmb 10600-10800/ton in south China.

BDO: Trading sentiment in BDO market was soft this week. Phase 2 facility of Shaanxi BDO was still under adjustment and hasn’t supplied good to the market. PBT unit of Fujian Meizhouwan officially offered quotations at weekend. The 3rd 60 ktpa PBT production line of Changchun Chemical has been put into operation recently.

In east China, spot materials were heard at Rmb 13150-13300/ton (small order, by acceptance). In south China, bulk goods were heard at Rmb 13200-13350/ton (by acceptance) while drummed goods at Rmb 14000-14500/ton. For import goods, most suppliers were dealing with contract orders. Quotations from Japan Mitsubishi were heard at $ 2600/ton, negotiation room remained.

PO (propylene oxide): PO price stopped dropping. For costs, propylene prices keep increasing and PO manufacturers intend to firm market price. In mid week, there were a small amount of factories lifted quotations. PPG producers were mainly working hard to promote sales. Market will probably keep stable with upward possibility exists.

Currently PO prices were heard at Rmb 11900-12000/ton (delivered, by cash) in east China; price in Shandong and north China was reported at Rmb 11500-11700/ton (by cash) and Rmb 12000/ton (by acceptance, ex-works). Cargoes in northeast China were traded at Rmb 11800/ton (by cash, delivered).

PPG: Flexible PPG market was more stable now. There were a small amount of PO factories lifted quotations in north China, which supported PPG market. In the meantime, demands from end-user factories increases and low-price sources vanished gradually. Under inventory pressure, PPG manufacturers were mainly promoting sales.

Till now, goods were priced at Rmb 12400-12500/ton (bulk, by cash, ex-works) in Shandong and north China, Rmb 12700-12900/ton (by cash, bulk, delivered) in east China while Rmb 12700-12900/ton in south China.

Rigid PPG price dropped in a small range. For raw materials, propylene presented firmly upward while PO stayed stable. In terms of demand, enquiries increased. Negotiation price kept at a stable level.

In east China, high-end 4110 was reported at Rmb 13500/ton (ex-works, barreled goods), middle-level goods were heard at Rmb 12300-12600/ton (by acceptance) and Rmb 12000-12400/ton (by cash) while low-end goods were heard at Rmb 11000/ton. In Shandong and north China, middle-end goods kept at Rmb 11800-12000/ton (ex-works by acceptance), while low-end at Rmb 11000/ton. In south China, high end product of 4110 was heard at Rmb 12600/ton and middle-end at Rmb 12000-12200/ton, low-end goods were heard at Rmb 11000/ton.


DMF: Generally speaking, DMF market was stable this week. Luxi chemical started planned maintenance. Downstream buyers placed order to meet rigid demand. Traders were active in promoting sales. Operating rates were high in mid month but deals were closed at lower end. Trading sentiment was really mediocre at the end of the month due to imbalance between supply and demand.

Till now, mainstream trading values were heard at Rmb 5300-5500/ton in east China while Rmb 5450-5550/ton in south China.

MEK: MEK market presented stable-to-firmed this week. Early in the week, traders lifted quotations supported by restocking needs and tight supply in east China. Low-end deals increased through mid week. Negotiations level was close to high end in Ningbo at week end. Prices in south China were firmed as well.

Mainstream negotiation numbers were heard at Rmb 9400-9500/ton in east China while Rmb 9700-9750/ton in south China.


PU Coating Systems: Coatings market eyed stable orders from end sectors. The leather manufacturing plants faced great pressure from environment protection. 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: Spandex market reflected stable in terms of trading sentiment. Weaving mills ran stably but were heard of no improvement, since downstream plants of cotton bale and circular knitting demanded limitedly for spandex. Market quotations maintained firm but certain plants still surrendered part of profit in huge order. 40D was mainly pegged at Rmb 48000-52000/ton, while 20D and 30D respectively hit at Rmb 59000-65500/ton and Rmb 55000-58000/ton.

Sole Resin: Sole resin market eyed stable performance this week. The shoe makers are meeting with bearish market surroundings. Goods are quoted at Rmb 17000-18000/ton in Jiangsu and Zhejiang while Rmb 17500-18000/ton in Guangzhou and Fujian.

TPU: TPU producers were reported of various performances this week as large plants operated at high capacity with good profit, while SMEs ran at 40%-50% capacity. Sales warmed up early this year, but since lacking support from cost, makers met with squeezed profit.

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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