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Home | News |Weekly Polyurethane Market Review (May 12, 2014- May 16, 2014)
Weekly Polyurethane Market Review (May 12, 2014- May 16, 2014)
Updated: 2014-05-19 15:39 Source: PUWORLD share:

Market Review

Isocyante market remained stable at weak stance while polyol market reflected both ups and downs, for lacking supports from end sectors. Trends in detail:


Pure MDI: This week pure MDI market kept stable. At the opening, market continued showing soft performance although NPU had upward adjusted quotations. In the mid week, downstream demand was restrained and deals were mostly made for low-priced materials. Approaching weekend, negotiation sentiment maintained insipid and supply was heard as steady.

Negotiations were heard at Rmb 19500-20000/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 softened further this week. Demand seemed flat early this week, while in mid week Bayer cut down list price by Rmb 400/ton to Rmb 15400/ton, and then suppliers made adjustments based on market condition.

Till now, PM200 was quoted at Rmb 15400/ton in east China and north China, while Rmb 15500/ton in south China. Materials from Shanghai were priced at Rmb 14900-15000/ton in east China, Rmb 14900-15000/ton in north China and Rmb 15500/ton in south China. Feedstock from South Korea and Japan pegged at Rmb 14800-14900/ton in east China and north China, while Rmb 14800-15000/ton in south China.

Liquefied MDI: Liquefied MDI market eyed no significant increase of supply and middlemen were active in shipment. However, due to soft macro environment and weak end sectors, downstream players seemed prudent on procurement.

BASF MM103C was quoted at Rmb 21800/ton this month with limited goods supplied to the market. Wanhua announced its May list price at Rmb 23900/ton, up by Rmb 200/ton compared to previous month. Bayer CD-C was mainly negotiated at Rmb 21500/ton. Negotiations of Kumho LL and NPU were respectively pegged at Rmb 21500/ton and $2750/ton.

TDI: Weak performance was eyed in domestic TDI market since downstream foaming industry had entered slack season thus slowed down consumption. Supply was heard of ample and market was expected to roll over.

In Shandong and north China, prices for Shanghai goods (with tax) were heard at Rmb 18,300-18,400/ton while homemade goods (with tax) were reported at Rmb 17,400-17,500/ton. In east China, homemade feedstock was heard at Rmb 17,300-17,400/ton while price for Shanghai goods settled at Rmb 18,000-18,300/ton. In south China, price for homemade materials (without tax) was said at Rmb 16,600-16700/ton while Shanghai goods (without tax) were heard at Rmb 17,500-17600/ton.


AA (Adipic Acid): Adipic acid market was quite strong this week. Haili lifted list price to Rmb 11000/ton early in the week. Traders were inspired by firm quotations and chose to withhold offer for a time. Several days later, market insiders up adjust quotations successively but downstream buyers presented rather cautious. There was no significant improvement in terms of trading volume. Xinjiang manufacturer stopped production again at week end and plans to restart next week, which will probably result in tight availability in that region.

Till now, goods from Shandong Haili were negotiated at Rmb 10500-10700/ton in east China, Rmb 10600-10800/ton in south China and Rmb 10550-10800/ton in north China. Feedstock from Liaoyang Petrochemical was mainly negotiated at Rmb 11800-12000/ton in east China, Rmb 12400-12600/ton in south China while Rmb 11900-12100/ton in north China. Availability of Xinjiang goods was rather tight in east China, in south China, Xinjiang cargoes were traded at Rmb 10800-11000/ton.

BDO: BDO price dropped further by Rmb 200-300/ton this week. Large increases in supplies were witnessed as Yunnan Yunwei restarted last week, phase two unit of Shaanxi Shaanhua supplied goods to the market successively and goods from Sichuan Tianhua arrived in east China. In addition, Henan Kaixiang PBT unit has been stopped, which means more BDO needs to be consumed by other downstream buyers. Dealers were active in promoting sales, which dragged market price down. Downstream demands presented rather weak in May with only spandex market keeping stable consumptions.

In east China, spot materials were heard at Rmb 12200-12400/ton (small order, by acceptance). In south China, bulk goods were heard at Rmb 12250-12500/ton (by acceptance) while drummed goods at Rmb 13500-14000/ton. For import goods, most suppliers were dealing with contract orders. Quotations from Japan Mitsubishi were heard at $ 2500/ton, negotiation room remained.

PO (propylene oxide): PO market was quite rosy. Supplies were tight as units of ZRCC and Wudi Xinyue were stopped while Shidashenghua unit stopped at the beginning of this month and plans to restart in recent days. Raw materials markets were supportive as well. Liquid chlorine, propylene and PO prices headed to upswing. However, demands from end-user sponge factories were flat and most buyers place orders on a hand-to-mouth basis. With restart of Xinyue and Shidashenghua units and up-adjusting operating rate of Jilin Shenhua, tight supply condition may be eased later on. But market price will probably keep firmed within a short period.

Currently PO prices were heard at Rmb 12700-12900/ton (delivered, by cash) in east China; price in Shandong and north China was reported at Rmb 12900-13100/ton (by cash) and Rmb 13000-13200/ton (by acceptance, ex-works).

PPG: Goods prices were pushed up this week. Flexible PPG factories lifted quotations under cost pressure. However, end-use sponge factories were in offseason and they offered limited demands for raw materials.

Till now, goods were priced at Rmb 13400-13600/ton (bulk, by cash, ex-works) in Shandong and north China, Rmb 13400-13700/ton (by cash, bulk, delivered) in east China while Rmb 13500-13600/ton in south China.

Rigid polyether polyol price kept firmed after small adjustment. Market gained supports from strong raw material PO, but demands were flat with white household and construction industries grow faintly. Sales condition was quite reasonable and market price was especially affected by raw materials.

In east China, low-end 4110 was reported at Rmb 11500/ton (ex-works, barreled goods), middle-level goods were heard at Rmb 12500-12800/ton (by acceptance). In Shandong and north China, middle-end goods kept at Rmb 12200-12400/ton (ex-works by acceptance), while low-end at Rmb 11500/ton. In south China, high end product of 4110 was heard at Rmb 12600-12800/ton and middle-end at Rmb 12400-12500/ton, low-end goods were heard at Rmb 11500/ton.


DMF: Market is stable as before. Manufacturers maintained normal operation and there was still heavy inventory pressure. Downstream buyers organize procurement only to meet rigid needs.

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 market presented stable-to-firmed this week. Early in the week, traders lifted quotations and other players followed the upward trend. Then maintenance of Fushun Petrochemical helped market price firming at a high level. Downstream buyers were now willing to place orders viewing current high raw material price.

Mainstream negotiation numbers were heard at Rmb 10000-10100/ton in east China while Rmb 10400-10650/ton in south China.


PU Coating Systems: Operations in coatings market slowed down due to seasonal reason. 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. Heavy denier yarn was soft in previous days but with downstream sectors warming up, operations lifted. Currently demand for 40D turned better, but overall demand seemed insipid and certain plants were reported of tight capital chain. 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 few improvements. Shoe manufacturing industry was meeting with shuffle of labor, which also meant shortage of labor. 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 steady deals and prices this week. 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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