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Home | News |Weekly Polyurethane Market Review (April 28, 2014- April 30, 2014)
Weekly Polyurethane Market Review (April 28, 2014- April 30, 2014)
Updated: 2014-05-05 16:44 Source: PUWORLD share:

Market Review

The overall market seemed insipid and eyed no significant movements. Trends in detail:

Isocyanate

Pure MDI: This week pure MDI market rolled over slightly. Wanhua had not announced its list and settlement prices yet, and downstream demand seemed slow.

Negotiations were heard at Rmb 19,500-20,000/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 15,800-15,900/ton in east China and north China, while Rmb 16,000-16,200/ton in south China. Materials from Shanghai were priced at Rmb 15,500-15,600/ton in east China and north China, and Rmb 15800/ton in south China. Feedstock from South Korea and Japan pegged at Rmb 15,500-15,600/ton in east China, Rmb 15500/ton in north China, while Rmb 15700-15800/ton in south China.

Liquefied MDI: Liquefied MDI market eyed stable performance but different prospects under impact of ample supply and rolling demand condition. Since early 2014, Wanhua had announced increases of Rmb 500/ton in terms of pure MDI, and in May quotations were upward adjusted by Rmb 200/ton further, which impacted liquefied MDI market.

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 was reported as stable since players were mainly waiting for announcements of plants’ settlement prices. Approaching Labor Day holiday, buyers slowed down their procurement.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 18,400-18,500/ton while homemade goods (with tax) were reported at Rmb 17,500-17,600/ton. In east China, homemade feedstock (with tax) was heard at Rmb 17,300-17,400/ton while price for Shanghai goods (with tax) settled at Rmb 18,300-18,500/ton. In south China, price for homemade materials (without tax) was said at Rmb 16,700-16800/ton while Shanghai goods (without tax) were heard at Rmb 17,600-17800/ton.  

Polyol

AA (Adipic Acid): Adipic acid market was weak. Trading sentiment was quite light at the beginning of this week. With Labor Day holiday approaching, downstream buying enthusiasm presented low. In addition, announcement of Haili list and settlement prices had no effect on market condition.

Till now, goods from Shandong Haili were negotiated at Rmb 10000-10400/ton in east China, Rmb 10300-10600/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 12500-12600/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, 10600-10800/ton in south China and Rmb 10500/ton in north China.

BDO: Market condition turned worse this week dragged down by great increase in supply and soft demand. Although most PBT producers took part in this year’s ChinaPlas last week, there were limited deals closed, which failed to support raw material BDO.

In east China, spot materials were heard at Rmb 12850-13150/ton (small order, by acceptance). In south China, bulk goods were heard at Rmb 12900-13150/ton (by acceptance) while drummed goods at Rmb 13800-14300/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 firmed at high level this week. With propylene price remained strong and liquid chlorine price climbed high, PO producers lifted quotations twice this week by Rmb 400/ton. PPG price followed the trend, but buyers were not willing to place orders at high price. PO market price is now at previous high price but it will be difficult for it to climb further up.

Currently PO prices were heard at Rmb 12300-12500/ton (delivered, by cash) in east China; price in Shandong and north China was reported at Rmb 12000-12200/ton (by cash) and Rmb 12200-12400/ton (by acceptance, ex-works).

PPG: Flexible PPG market was stable. End-user factories were mainly consuming inventories and it is entering off season now. Demands will be limited and market will probably keep stable in near future.

Till now, goods were priced at Rmb 12600-12800/ton (bulk, by cash, ex-works) in Shandong and north China, Rmb 12900-13200/ton (by cash, bulk, delivered) in east China while Rmb 12900-13100/ton in south China.

Condition in rigid PPG market was similar to that in flexible PPG market. Downstream factories were mainly consuming previous inventories and price kept stable before Labor Day Holiday.

In east China, middle-end 4110 was reported at Rmb 12100-12400/ton (ex-works, barreled goods), low-level 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 12500/ton and middle-end at Rmb 12200-12300/ton, low-end goods were heard at Rmb 11000/ton.

Solvent

DMF: Weak sentiment extended into domestic DMF market this week. Overall market was mediocre.

Till now, mainstream trading values were heard at Rmb 5200-5500/ton in east China while Rmb 5450-5600/ton in south China.

MEK: MEK price firmed at high level supported by tight supply. At the beginning of this week, some producers in east China lifted quotations and traders adjusted prices accordingly then.

Mainstream negotiation numbers were heard at Rmb 9650-9700/ton in east China while Rmb 10000-10100/ton in south China.

Downstream

PU Coating Systems: Coatings market turned to insipid side due to seasonal reason. 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 kept steady after industrial conference. Inventory in large plants was enough for 25-30 days’ operation while that in small plants for over 30 days. Downstream covering yarn remained 70-80% operation, while circular knitting at only 30-40% capacity. 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 reflected flat this week. The shoe makers are meeting with decreasing demand from end industry. Goods are quoted at Rmb 17000-18000/ton in Jiangsu and Zhejiang while Rmb 17500-18000/ton in Guangzhou and Fujian.

TPU: TPU market eyed mediocre negotiation sentiment but insipid deals, as restrained from macro surroundings. Film, sheet and high-end sealing sectors gave TPU market some supports, while footwear and tube sectors seemed stagnant.

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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