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China Polyurethane Monthly Report 201311
December 06, 2013    [Source:PUdaily]

 Market Overview:

China TDI
market veers up firstly driven by limited availability on transportation restriction during CPC conference from Nov. 9 to 12 and traders’ speculation amid reserve price at the month end, but it dips during middle month because of ample supply and weak buying. Spot offers are largely heard at RMB19700-19800/ton for BMS and BASF stocks and RMB19500/ton for other homemade cargoes at the month end.

TDI Market in Southeast Asia: The TDI market in Southeast Asia countries, mainly referring to Indonesia, Malaysia, Vietnam and Thailand is under subdued status in November and demand is dulled by either low activity in terminal market or politic unrest or heavy rain and storms...

Toluene: China toluene market is pushed up by rising Asian USD prices amid centralized maintenance at Japan and Korea producers, but market stabilizes at high price level till the month end. Prompt cargoes are sold at RMB8450-8700/ton at home...

Import and Export Data: China TDI imports in this October under the HS code 29291010 were 5529 tons, falling by 26.93% comparing with 7567 tons in last year and 50.97% over 11277 tons in last month.

Exports in October were 3427 tons, also dropping 58.17% over last year which stayed at 8192 tons but the drop rate was smaller at 17.96% over 4177 tons in last month...

China polymeric MDI market climbs all the way since the second week of this month on the back of NPU’s and BMS’ price hikes and Wanhua Chemical’s and Huntsman’s supply cut.
Spot trading improves as many end users carry out stocking up ahead of New Year in advance but buying enquires gradually dwindle down because of seasonal weakness...

Polymeric MDI Market in Southeast Asia: Polymeric MDI market in Southeast Asia keeps reasonable to soft this month on rather steady supply and demand basis. It is slack season for this region and market buying activities also become lower in line with declining raw material consumption in downstream sectors appliance...

China pure MDI market dips on lower buying enquires and edginess to sell stocks among cargo holders in anticipation of bearish outlook. Downstream sectors polyester resin...

Benzene: China benzene market rises slightly to RMB9150-9200/ton as downstream buying interests warm up and spot sellers secure sell stocks at high prices. There is still range to increase after Sinopec price hike...

Aniline: The aniline market at home is largely stable on steady fundamentals. Prompt cargoes are sold at around RMB10400-11100 without DEL (bank draft)...

Asian MDI Facility Dynamics

Plant Location
Production Note
Wanhua Chemical Group Co., Ltd.
Yantai, China
90% loads
Ningbo Wanhua Polyurethane Co., Ltd.
Ningbo, China
80% loads now; Both MDI plants to shut down on Dec. 2; maintenance at first phase lasts for 25 days while second phase for 400 days with 200 kt expected to be added
Bayer MaterialScience (China) Co., Ltd.
Shanghai, China
90% loads
Shanghai Lianheng Isocyanate Co., Ltd.
Shanghai, China
100% loads
Shanghai BASF Polyurethane Co., Ltd.
Shanghai, China
100% loads
Huntsman (Shanghai) Polyurethane Co., Ltd.
Shanghai, China
90% loads now; scheduled turnaround starting on Dec. 14 for two weeks
Nippon Polyurethane (Ruian) Co., Ltd.
Zhejiang, China
80% loads
Nippon Polyurethane Industry Co., Ltd.
Nanyo, Japan
Mitsui Chemicals Inc.
Omuta, Japan
Kumho Mitsui Chemicals Inc.
Yosu, South Korea
Regularly; annual maintenance in next April to May
BASF Urethane Co., Ltd.
Yosu, South Korea


China imports of propylene oxide under the HS code of 29102000 were 26723 tons in October with a total value amount at $46.98 million, posting a decrease of 36.21% compared with the same period in 2012 and an increase of 2.77% from 26004 tons in September, according to PUdaily im&export data
China exports of propylene oxide were 157.7 tons in October, posting an increase of 199.23% compared with last month...

Flexible Polyols: Flexible polyols market buying atmosphere remains gloomy with only a little improvement in mid-November stimulated by unexpected shutting down of ZRCC’s PO...

POP: As major feedstocks of POP, PO prices stay firmly at high level, which offers great cost support despite styrene and acrylonitrile prices’ continuous downward trend...

Polyols Market in Southeast Asia: Polyols market in SE Asia is under relatively hard situation in November. Demands in Vietnam finally pick up a little after rainy season, unfortunately Malaysia steps into rainy season with weaker demands. Meanwhile, in Thailand the market activities are quite dull effected by its unsettle politic situation with continuous protest. However, with relatively high dependence on China market, polyols prices in SE Asia slightly go up instead of coming down due to high cost...

Market Overview: PTMEG market this month is generally insipid and supply is ample to over. Spandex demand is shrinking while non-spandex demand for PTMEG retains stable. Most clients purchase stocks on a needed basis amid wait attitude.

BDO: In November, domestic BDO market trends to fall down amid shrinking orders from terminal downstream factories. Domestic BDO units operate normally and supply is adequate despite some BDO units’ temporary shutdown...

THF: Spot supply is still sufficient although PBT units at home are either still off-line or operate with not high loads. Demand remains stable and most users purchase on a needed...

Downstream Industry:

China produced 3895000 pieces of upholstered furniture (including mattress and sofa) in October, increasing 2.19% compared with September. The overall outputs from January to October were about 33,880,000 pieces...

China Regional Furniture Outputs Percentage in Oct., 2013

Household refrigerator: China household refrigerator outputs in Oct. grew 15.18% comparing with 6068 thousand sets to 6989 thousand sets but dropped 10.81% over last month which was 7837 sets.
This was the five consecutive drops since this June in China and surprisingly in booming season September and October when manufacturers pick up operating in preparation for demand boom at the end of the year as many people move into new houses or get married this time...

Household freezer: ...

Water heater: ...

Automobile:Automobiles’ production and sale volumes in October slightly decreased over September but posted a great improvement compared with the same period of last year...

Coatings:Coatings outputs were 1,176,500 tons in October, decreasing about 100,000 tons compared with 1,287,800 tons in September and increasing around 10,000 tons compared with 1,162,800tons at the same period of 2012. The accumulated outputs were 10,592,300 tons from January to October, posting an increase of 3.36% compared with 10,218,200 tons at the same period of 2012...

PU Resin:According to latest statistics, from January to October in 2013, outputs of plastic artificial leather and synthetic leather were 2,801,500tons, up 310,400 tons compared with that of October with 2,491,100 tons.Market Overview: China TDI market veers up firstly driven by limited availability on transportation restriction during CPC conference from Nov. 9 to 12 and traders’ speculation amid reserve price at the month end, but it dips during middle month because of ample supply and weak buying... 

Spandex: According to latest statistics, from January to October in 2013, outputs of plastic artificial leather and synthetic leather were 2,801,500 tons, up 310,400 tons compared with that of October with 2,491,100 tons. Regarding the outputs from different provinces...

Building Energy Efficiency: China Polyurethane Industry Association and its promotion team will hold, undertook by Suntower Consulting Business, the third China PU Exterior Wall Insulation Promotion Meeting at the end of this year in Urumqi, Xinjiang Uygur Autonomous Regional, aiming to facilitate building energy efficiency in China and popularize PU insulation material and its feature among government, developers, designers, construction units and people. The previous two meetings were held in Jilin, Jilin province and Luoyang, Henan province with participators over 300.


Cold Chain: ...

Containers: Container outputs in October were 7089 thousand cubic meters, dropping by a range of 19.83% over last month while the total outputs from January to October were 87454 thousand cubic meters...

China exports in this October were 200 thousand units, declining by 4.76% over 210 thousand units in last month, but rising by 33.33% comparing with 150 thousand in last October. Export value in October was 598 million dollars, growing by 12.19%...

News Spotlight in November

Polyurethane News Focus...

Company Dynamics...

 Industry Glance...

Global PU Market...


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