MR 28022014 000000 PDF

POLYMERUPDATE - Asian Petrochemical
Monthly Price Watch Report

2014
February

www.polymerupdate.com

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Asian Petrochemical
Monthly Price Watch Report
February 2014

1
HeadOffice:ShalimarInfotechPvt.Ltd.
344,AZIndustrialEstate,G.K.Marg,LowerParel,Mumbai400013,INDIA
Tel:(9122)61772000(25lines)Fax:(9122)61772025Email:[email protected]

Index
NotestoPriceWatchReport 02
ExecutiveSummary 04

CrudeOil 09
Naphtha 15
Polymers
LLDPE 19
LDPE 25
HDPE 32
PP 40
PVC 51
PS 55
ABS 59
Aromatics
Benzene 62
Toluene 66
Xylene 71
Methanol 79
Olefins
Butadiene 82
Ethylene 86
Propylene 91
Feedstock
StyreneMonomer 95
EDC/VCM 101
PTA 105
MEG 109
Intermediates
ACN 114
DOP 117
2EH 120
IndianPolymersMarket
IndianPolymersMarketSummary 123
IndianPolymersPriceMovement 124

Disclaimer&Copyright 127

2

NotestoPriceWatchReport
MarketTerms
FOB FreeOnBoard
CNF/CFR Cost+Freight
CIF Cost+Insurance+Freight
MainstreamOffer MainMarketOffer
Spot
Quotedforsalesoffixedvolumesfordeliveryinasimple
shipmentataspecifiedtime,normallywithinfourweeks
fromthedateofpublication.Thequotescoverprices
agreedinnegotiationsbetweenbuyersandsellersinthe
weekleadinguptothedateofpublication
Local
AlllocalpricesareBasic(exclusiveofexcisedutyand
otherlocaltaxes)
Contract
Quotedforagreementscoveringthesupplyofaproduct
overanextendedperiod.Pricesarenegotiatedbetween
abuyerandselleratregularintervals,oftenmonthlyor
quarterlyandarequotedforthemonthorquarterof
delivery
Exwork ExFactoryPrice
MarketsbyRegions
FarEastAsia NorthEastAsia SouthAsia SouthEastAsia
SouthKorea Taiwan India Singapore
Japan China Pakistan Thailand
SriLanka Indonesia
Bangladesh Malaysia
Philippines
Week1February1toFebruary8

3

ExchangeRate=1USD(Feb.14)
W4 W3 W2 W1
ChineseYuan
(CNY)
6.12344 6.104483 6.099767 6.103238
ThaiBaht
(THB)
32.50318 32.39838 32.6096 32.83889
SouthKorean
Won(KRW)
1070.12 1064.21 1067.87 1078.52
Singapore
Dollar(SGD)
1.2653 1.26165 1.266533 1.2723
JapaneseYen
(JPY)
102.35 102.1117 102.2483 101.8238
IndianRupee
(INR)
61.79318 61.84837 61.92293 62.34331

4

ExecutiveSummary
CrudeoilpricesgainedonFebruary28onthebackofadeclineinBakkenoilshipmentsinthe
US. The price rise was supported by a fall in the value of the US dollar. Nymex crude futures
traded higher at USD 102.59/barrel while Dated Brent spot prices were up at USD
109.07/barrel.WTICushingspotpriceswerehigheratUSD102.59/barrel.
Open spec naphtha bid prices on February 28 for the 2H of April were assessed at the USD
942/mtCFRFarEastlevelswhiletheaskratewasattheUSD944/mtCFRFarEastlevels.The
forward naphtha market price indications for the 2H of April were up at the USD 954.50/mt
levels.
LLDPE prices in Asia were assessed mixed during week 4. CFR South East Asia prices were
assesseddownattheUSD1540/mtmark,aweekonweekdropofUSD15/mt.CFRSouthAsia
priceswereassessedlowerattheUSD1530/mtlevels,asharpfallofUSD20/mtontheweek.
Thepricefallwastriggeredbypoorbuyingsentimentsintheregion.OnFebruary28,CFRFar
East Asia prices of LLDPE were assessed up at the USD 1505/mt mark. Prices climbed in
anticipationofaliftinbuyingtrendsgoingforward.
Despiteaweekonweekriseinfeedstockethylenevalues,LDPEpricesplungedinAsiaduring
week 4. Prices fell as the buying mood continued to remain dull across the Asian region. CFR
Far East Asia prices of LDPE were assessed down at the USD 1560/mt mark, a plunge of USD
70/mt on the week. CFR South East Asia prices of LDPE were assessed lower at the USD
1600/mtmark,atumbleofUSD60/mt.
HDPEpriceswereassessedmixedinAsiaduringweek4.InFarEastAsia,pricesofHDPEfilmon
February 28 were assessed up at the USD 1525/mt levels, a gain of USD 25/mt on the week.
HDPEyarnpriceswerehigherattheUSD1540/mtlevels,aweekonweekriseofUSD10/mt.
HDPE injection moulding prices were assessed down at the USD 1445/mt levels while HDPE
blow moulding prices were assessed lower at the USD 1475/mt CFR levels, both down USD
5/mt. In South East Asia, prices of HDPE film were assessed flat at the USD 1515/mt levels.
HDPE injection and HDPE BM prices were down at the USD 1495/mt levels, a drop of USD
5/mt.HDPEyarnpriceswereassessedsteadyattheUSD1525/mtlevels.InSouthAsia,prices
of HDPE injection and HDPE BM were assessed down at the USD 1525/mt levels, a week on
weekdropofUSD5/mt.HDPEfilmpriceswereassessedlowerattheUSD1530/mtCFRSouth
Asialevels,afallofUSD15/mt.BuyersinChinawhohadretreatedtothesidelinescitedhigh
productinventorylevelsandsubduedbuyingtrendsasreasontojustifytheirdecisiontoavoid
purchases.

5

Polypropylene (PP) prices in Asia declined during week 4. Prices declined on the back of
sluggish regional buying trends. The fall was supported by a slide in feedstock propylene
values.OnFebruary28,CFRFarEastAsiapricesofPPraffiaandPPinjectionwereassessedat
the USD 1470/mt levels. PP raffia and PP injection prices were assessed lower at the USD
1540/mt CFR South East Asia levels, a drop of USD 10/mt on the week. PP block copolymer
prices were assessed flat at the USD 1510/mt CFR Far East Asia levels while CFR South East
AsiapricesofPPblockcopolymerwereassessedstableattheUSD1580/mtlevels.BOPPprices
wereassesseddownattheUSD1495/mtCFRFarEastAsialevels,aweekonweekfallofUSD
10/mt. CFR South East Asia prices of BOPP were assessed unchanged at the USD 1555/mt
levels.CFRFarEastAsia,PPfilmpriceswereassesseddownattheUSD1495/mtlevels,aweek
on week drop of USD 5/mt. CFR South East Asia prices of PP film were at the USD 1555/mt
levels, down USD 10/mt. In South Asia, PP raffia prices were assessed lower at the USD
1530/mt levels, a fall of USD 5/mt. PP injection prices were assessed steady at the USD
1525/mtCFRSouthAsialevels.PPfilmpriceswereassessedstableattheUSD1560/mtlevels.
BOPP prices wereassessed the USD 1565/mt CFR South Asia levels while PP block copolymer
priceswereattheUSD1585/mtlevels.
Despiteariseinfeedstockethylenerates,PVCpricesdeclinedinAsiaduringweek4.Reports
ofsubduedregionalbuyingtrendspressuredthespotPVCpricelower.CFRChinapricesofPVC
were assessed down at the USD 1055/mt levels, a fall of USD 10/mt on the week. CFR South
EastAsiapricesofPVCwereassessedstableattheUSD1060/mtlevels.
PSpricesdroppedinAsiaduringweek4.Thepricefallwaspromptedbyadeclineinupstream
SM costs and sluggish regional buying trends. CFR South East Asia prices of GPPS were
assessedlowerattheUSD1770/mtlevels,aweekonweekfallofUSD5/mt.CFRChinaprices
ofGPPSwereassessedlowerattheUSD1750/mtlevels,adropofUSD20/mtontheweek.In
China, HIPS prices were assessed lower at the USD 1800/mt CFR mark, a drop of USD 20/mt.
CFRSouthEastAsiapricesofHIPSwereassesseddownattheUSD1830/mtlevels,adeclineof
USD 20/mt. EPS prices meanwhile were assessed down at the USD 1790/mt FOB North East
Asiamarkforgeneralpurposegrades.
Prices of ABS tumbled in Asia during week 4. Bearish upstream SM and butadiene values
pushed prices lower in Asia. Reports of weak buying trends in the region further supported
the price fall. CFR China prices of ABS were assessed down at the USD 1900/mt levels, a
tumbleofUSD30/mtontheweek.CFRSouthEastAsiapricesofABSwereassessedlowerat
theUSD1910/mtCFRlevels,aweekonweeksharpfallofUSD25/mt.

6

BenzenepricesinAsiajourneyedsouthduringweek4.Alackofbuyinginterestinkeymarkets
likeChinapressuredpriceslowerintheregion.OnFebruary28,althoughpricesclimbedonthe
day, benzene was assessed at the USD 1275/mt levels, a week on week sharp fall of USD
25/mt.
Soft demand trends pressured spot toluene prices in Asia lower during week 4. On February
28,althoughpricesclimbedontheday,toluenewasassessedattheUSD1070/mtFOBKorea
levels, a fall of USD 25/mt on the week. CFR China prices were assessed lower at the USD
1085/mt levels, a week on week sharp drop of USD 30/mt. CFR South East Asia prices were
assessed down at the USD 1110/mt levels, a decline of USD 25/mt. CFR India prices were
assessedlowerattheUSD1130/mtlevels,downUSD20/mt.
OXpricesinAsiawerehammeredlowerduringweek4.Marketparticipantsblamedtheprice
fallsquarelyonsubdueddemandtrendsthatplaguedtheregion.Supportingthepricedecline
was a drop in downstream prices of PA in Asia coupled with a slide in upstream Isomer MX
values. FOB Korea prices of OX were assessed down at the USD 1230/mt levels, a plunge of
USD 45/mt. CFR China prices were assessed lower at the USD 1250/mt levels, a slide of USD
45/mt. CFR South East Asia prices were assessed down at the USD 1245/mt levels, a drop of
USD20/mt.Paraxylene(PX)pricesalsodriftedlowerinAsia.Pricesfellonaccountofadropin
downstream PTA values. FOB Korea prices of PX were assessed lower at the USD 1210/mt
levels,atumbleofUSD35/mt.CFRChinaandCFRSouthEastAsiapricesofPXwereassessed
down at the USD 1235/mt levels, a sharp fall of USD 35/mt. Prices of Solvent MX in Asia
slipped. FOB Korea prices were assessed down at the USD 1025/mt levels, a tumble of USD
30/mt. CFR Taiwan prices were assessed lower at the USD 1040/mt levels, a week on week
sharp fall of USD 30/mt. CFR China prices of Solvent MX were assessed down at the USD
1055/mtlevels,atumbleofUSD35/mt.CFRSouthEastAsiapriceswereassessedloweratthe
USD1085/mtlevels,downUSD30/mt.IsomerMXpricesalsowitnessedadropinAsia.Aweak
buyingactivitywitnessedintheregionsupportedthepricedecline.OnFebruary28,although
prices climbed on the day, isomer MX was assessed at the USD 1070/mt FOB Korea levels, a
dropofUSD20/mt.CFRTaiwanpricewereassessedlowerattheUSD1085/mtlevels,aweek
on week fall of USD 20/mt. CFR South East Asia prices were assessed down at the USD
1095/mtlevels,adropofUSD20/mt.
Methanol prices in Asia journeyed south during week 4. Prices fell as buying trends turned
sluggish.InAsiaskeymarketofChina,sellerspolledconfirmedthatdemandwasdryandthat
theywerestrugglingtotransact.OnFebruary28,FOBKoreapricesofmethanolwereassessed
down at the USD 490/mt levels, a week on week drop of USD 15/mt. CFR China prices of
methanolwereassessedlowerattheUSD470/mtlevels,asharpfallofUSD20/mt.CFRIndia

7

prices were assessed down at the USD 480/mt levels, a sharp drop of USD 20/mt. CFR South
EastAsiapriceswerelowerattheUSD560/mtlevels,afallofUSD20/mt.
During week 4, butadiene prices in Asia were assessed mixed. CFR China prices of butadiene
were assessed down at the USD 1450/mt levels, a week on week decline of USD 5/mt. CFR
SouthEastAsiapricesofbutadienewereassessedlowerattheUSD1405/mtlevels,adropof
USD 5/mt. The price fall was triggered by weaker downstream product demand trends in the
region.FOB KoreapricesofbutadienewereassessedupattheUSD1450/mtlevels,again of
USD15/mt.
Continued tight product avails in the region pushed prices of ethylene higher in Asia during
week 4. CFR South East Asia prices were assessed up at the USD 1430/mt levels, a week on
weeksharpgainofUSD30/mt.CFRNorthEastAsiapricesofethylenewereassessedhigherat
theUSD1500/mtlevels,ariseofUSD15/mt.FOBKoreapricesofethylenewerealsoassessed
upattheUSD1425/mtlevels,againofUSD15/mt.
Propylene prices in Asia dropped during week 4. The price fall was on the back of sluggish
buying sentiments in the region. FOB Korea prices of propylene were assessed down at the
USD1390/mtlevels,aweekonweekfallofUSD20/mt.CFRChinapriceswereassessedlower
at the USD 1445/mt levels, down USD 15/mt. CFR South East Asia prices of propylene were
assessedflatattheUSD1325/mtlevels.
StyreneMonomer(SM)pricesinAsiaslippedduringweek4.Pricesfellonthebackofsubdued
regional buying trends and a decline in upstream benzene values. On February 28, SM prices
were assessed down at the USD 1560/mt FOB Korea levels, a sharp fall of USD 30/mt. CFR
China prices were assessed lower at the USD 1585/mt levels. CFR India prices were lower at
the USD 1595/mt levels while CFR South East Asia prices were assessed down at the USD
1600/mtlevels.
Firmer upstreamethylene values pushed EDCprices in Asia higher during week 4. Supporting
the price rise was constrained product avails in the region. CFR Far East Asia prices of EDC
wereassessedupattheUSD505/mtlevels,aweekonweekgainofUSD5/mt.CFRSouthEast
Asia prices were assessed higher at the USD 495/mt levels, up USD 5/mt. VCM prices also
inchedhigherinpartsofAsia.CFRFarEastAsiapricesassessedupattheUSD950/mtlevels,a
gain of USD 5/mt on the week. Firmer input costs coupled with tight product availability
pushedpriceshigherintheregion.CFRSouthEastAsiapricesofVCMwereassessedsteadyat
theUSD985/mtlevels.

8

PTApricesinAsiaplungedduringweek4.Thepricefallwasonaccountofanumberofbearish
triggersincludingaslideinPXrates,highPTAinventoryinChinaandsubdueddemandtrends.
CFR China prices of PTA were assessed down at the USD 880/mt levels while CFR South East
AsiapriceswereassessedlowerattheUSD885/mt,aweekonweekplungeofUSD40/mt.CFR
IndiapricesofPTAwerelowerattheUSD910/mtlevels.Whentraderspolledsaid,thereisa
worry about the current subdued demand trends in downstream polyester markets
widespread across Asia. The purchase momentum is just far too sluggish and this is what is
wieldingdownwardpressureonspotPTArates.
MEG prices finished sharply lower in Asia during week 4. The price fall was pressured by
bearish buying trends and weak polyester markets. CFR China price of MEG were assessed
downattheUSD890/mtlevelswhileCFRSouthEastAsiapricesofMEGwerelowerattheUSD
895/mtlevels,atumbleofUSD40/mtontheweek.
ACN prices in Asia were assessed mixed during week 4. CFR South East Asia prices were
assessed down at the USD 2000/mt levels, a week on week fall of USD 10/mt. In South Asia,
prices of ACN were assessed up at the USD 2000/mt CFR levels, a gain of USD 10/mt on the
week.CFRFarEastAsiapricesofACNwereassessedflatattheUSD2060/mtlevels.
Prices of DOP in Asia declined during week 4. The price fall was prompted by a decline in
upstream2EHandPAvalues.Quietdemandtrendssupportedthepriceslide.CFRChinaprices
ofDOPwereassesseddownattheUSD1545/mtlevels,aweekonweekfallofUSD10/mt.CFR
SouthEastAsiapriceswereassessedlowerattheUSD1565/mtlevels,adropofUSD15/mt.
Pricesof2EHslippedinAsiaduringweek4.Thepricefallwasattributedtoweakerupstream
propylene costs on the one hand and subdued buying on the other. CFR China prices of 2EH
wereassessedlowerattheUSD1430/mtlevels,downUSD10/mtontheweek.InSouthEast
Asia,pricesof2EHwereassesseddownattheUSD1455/mtCFRlevels,aweekonweekdrop
ofUSD10/mt.

9

CrudeoilpricesdeclinedonFebruary3onreportsofadropinChinesemanufacturingactivity.
The fall in prices was also a result of a strengthening US dollar as compared to the euro.
Nymex crude futures traded lower at USD 96.43/barrel while Dated Brent spot prices were
downatUSD106.04/barrel.WTICushingspotpriceswereloweratUSD96.43/barrel.
Crude oil prices displayed a mixed undertone on February 4. The cold weather in the US
pushedpricesofNymexcrudehigherwhileconcernsthattheslowingemergingmarketgrowth
may impair global crude oil demand led to a fall in the prices of Brent crude. Nymex crude
futures traded higher at USD 97.19/barrel while Dated Brent prices were down at USD
105.78/barrel.WTICushingpriceswerehigheratUSD97.19/barrel.
CrudeoilpricesgainedonFebruary5onthebackofadeclineinUSdistillateinventories.The
riseinpriceswasalsotheresultofstrongeconomicdataemergingoutoftheUS.Nymexcrude
futures traded higher at USD 97.38/barrel while Dated Brent spot prices were up at USD
CrudeoilpricesgainedonFebruary6onthebackofadeclineinjoblessbenefitapplicationsin
the US. The rise in prices was also a result of a decline in the US dollar. Nymex crude futures
CrudeoilpricesroseonFebruary7onthebackofadeclineintheUSunemploymentrateand
a fall in the value of the US dollar. Nymex crude futures traded higher at USD 99.88/barrel
while Dated Brent spot prices were up at USD 109.57/barrel. WTI Cushing spot prices were
higheratUSD99.88/barrel.
CrudeoilpricesdisplayedamixedundertoneonFebruary10owingtoadeclineinthevalueof
the US dollar on the one hand and a rise in Libyan oil exports on the other. Nymex crude
futures traded higher at USD 100.06/barrel while Dated Brent spot prices were down at USD
Crude oil prices displayed a mixed undertone on February 11 owing to a rise in US crude
stockpiles on the one hand and a decline in the value of the US dollar on the other. Nymex
crudefuturestradedloweratUSD99.94/barrelwhileDatedBrentspotpriceswereupatUSD
108.68/barrel.WTICushingspotpriceswereloweratUSD99.94/barrel.
Crude oil prices gained on February 12 on the back of a decline in US gasoline and distillate
inventories. The rise in prices was also a result of an increased global oil demand forecast by
Crude Oil Summary

10

OPEC.NymexcrudefuturestradedhigheratUSD100.37/barrelwhileDatedBrentspotprices
wereupatUSD108.79/barrel.WTICushingspotpriceswerehigheratUSD100.37/barrel.
Crude oil prices fell on February 13 owing to a rise in US crude oil inventories on one hands
andanincreaseinthenumberofpeopleseekingjoblessbenefitclaimsintheUS.Nymexcrude
futures traded lower at USD 100.35/barrel while Dated Brent spot prices were down at USD
Crude oil prices displayed a mixed undertone on February 14 owing to a fall in retail sales in
theUSontheonehandandadeclineinthevalueoftheUSdollarontheother.Nymexcrude
futures traded lower at USD 100.30/barrel while Dated Brent spot prices were up at USD
Brent crude prices increased on February 17 on the back of a decline in the value of the US
dollar.TherewasnofloortradingontheNewYorkMercantileExchangeduetothePresidents
dayholidayintheUS.BrentspotpriceswereupatUSD109.18/barrel.
Crude oil prices rose on February 18 on the back of a decline in the US dollar. The price rise
was supported by reports of cold weather in the US. Nymex crude futures traded higher at
USD 102.43/barrel while Dated Brent spot prices were up at USD 110.46/barrel. WTI Cushing
spotpriceswerehigheratUSD102.43/barrel.
CrudeoilpricesroseonFebruary19onaccountofreportsofcoldweatheracrosstheUSA.The
rise in prices was also a result of violence in Venezuela, the worlds largest holders of crude
reserves. Nymex crude futures traded higher at USD 103.31/barrel while Dated Brent spot
prices were up at USD 110.47/barrel. WTI Cushing spot prices were higher at USD
103.31/barrel.
CrudeoilpricesfellonFebruary20onthebackofariseinUScrudeandgasolineinventories
and decline in a crucial Chinese manufacturing index. Nymex crude futures traded lower at
USD 102.92/barrel while Dated Brent spot prices were down at USD 110.30/barrel. WTI
CushingspotpriceswereloweratUSD102.92/barrel.
CrudeoilpricesdeclinedonFebruary21onthebackofafallinUSequityindices.Thepricefall
was supported by weak US housing data. Nymex crude futures traded lower at USD
102.20/barrel while Dated Brent spot prices were down at USD 109.85/barrel. WTI Cushing
spotpriceswereloweratUSD102.20/barrel.
CrudeoilpricesgainedonFebruary24onreportsthatthegroupofG20countriespromisedto
supportglobaleconomicgrowth.TheriseinpriceswasalsosupportedbyaclimbinUSequity

11

indices.NymexcrudefuturestradedhigheratUSD102.82/barrelwhileDatedBrentspotprices
wereupatUSD110.64/barrel.WTICushingspotpriceswerehigheratUSD102.82/barrel.
CrudeoilpricesfellonFebruary25onthebackofariseinUScrudeoilinventories.Theprice
fall was supported by a drop in US equity indices. Nymex crude futures traded lower at USD
101.83/barrel while Dated Brent spot prices were down at USD 109.51/barrel. WTI Cushing
spotpriceswereloweratUSD101.83/barrel.
CrudeoilpricesroseonFebruary26onthebackofariseinhomessalesintheUSA.Theprice
rise was also a result of a decline in the value of the US dollar. Nymex crude futures traded
higheratUSD102.59/barrelwhileDatedBrentspotpriceswereupatUSD109.52/barrel.WTI
CushingspotpriceswerehigheratUSD102.59/barrel.
Crude oil prices fell on February 27 on the back of a rise in the value of the US dollar and an
increaseinthenumberofjoblessbenefitclaimsintheUS.Nymexcrudefuturestradedlower
at USD 102.40/barrel while Dated Brent spot prices were down at USD 108.96/barrel. WTI
CushingspotpriceswereloweratUSD102.40/barrel.
CrudeoilpricesgainedonFebruary28onthebackofadeclineinBakkenoilshipmentsinthe
US. The price rise was supported by a fall in the value of the US dollar. Nymex crude futures

12

Crude Oil Graphical Trend

13

PriceMovementCrudeOilduringNovember2013February2014(USD/Barrel)
Grade Feb2014 Last4months(Nov2013Feb2014)
High Low High Low
CrudeOil
NYMEX 103.31 96.43 103.31 91.66
DatedBrent 110.64 105.78 112.62 103.46
WTICushing 103.31 96.43 103.31 91.66
Crude Oil Price Movement

14

NymexCrude DatedBrent WTICushing

Y2014 Y2013 Y2014 Y2013 Y2014 Y2013
1Feb 97.77 116.76 97.77
2Feb
3Feb 96.43 106.04 96.43
4Feb 97.19 96.17 105.78 115.61 97.19 96.17
5Feb 97.38 96.64 106.25 116.54 97.38 96.64
6Feb 97.84 96.62 107.19 116.73 97.84 96.62
7Feb 99.88 95.83 109.57 117.23 99.88 95.84
8Feb 95.72 118.90 95.72
9Feb
10Feb 100.06 108.63 100.06
11Feb 99.94 97.03 108.68 118.13 99.94 97.03
12Feb 100.37 97.51 108.79 118.66 100.37 97.52
13Feb 100.35 97.01 108.52 117.88 100.35 97.01
14Feb 100.30 97.31 109.08 118.00 100.30 97.31
15Feb 95.86 117.66 95.86
16Feb
17Feb 100.30 109.18 100.30
18Feb 102.43 95.86 110.46 117.47 102.43 95.86
19Feb 103.31 96.66 110.47 117.51 103.31 96.66
20Feb 102.92 94.46 110.30 115.60 102.92 94.46
21Feb 102.20 92.84 109.85 113.53 102.20 92.84
22Feb 93.13 114.10 93.13
23Feb
24Feb 102.82 110.64 102.82
25Feb 101.83 93.11 109.51 114.44 101.83 93.11
26Feb 102.59 92.63 109.52 112.71 102.59 92.63
27Feb 102.40 92.76 108.96 111.87 102.40 92.76
28Feb 102.59 92.04 109.07 111.38 102.59 92.04
Crude Oil Price Comparison

15

Open spec naphtha bid prices on February 3 for the 2H of March were assessed lower at the
USD940/mtCFRFarEastlevelswhiletheaskratewasattheUSD942/mtCFRFarEastlevels.
The forward naphtha market price indications for the 2H of March were down at the USD
934.50/mtlevels.
USD932.50/mtCFRFarEastlevelswhiletheaskratewasattheUSD934.50/mtCFRFarEast
levels.Theforwardnaphthamarketpriceindicationsforthe2HofMarchwereupattheUSD
935/mtlevels.
930.50/mtlevels.
932.50/mtlevels.
OpenspecnaphthabidpricesonFebruary7forthe2HofMarchwereassessedhigheratthe
951/mtlevels.
The forward naphtha market price indications for the 2H of March were down at the USD
936.50/mtlevels.
OpenspecnaphthabidpricesonFebruary11forthe2HofMarchwereassessedloweratthe
Theforwardnaphthamarketpriceindicationsforthe2HofMarchwereupattheUSD936/mt
levels.
Open spec naphtha bid prices on February 12 for the 2H of March were assessed at the USD
932.50/mtCFRFarEastlevelswhiletheaskratewasattheUSD934.50/mtCFRFarEastlevels.
Naphtha Summary

16

The forward naphtha market price indications for the 2H of March were up at the USD
934.50/mtlevels.
OpenspecnaphthabidpricesonFebruary13forthe2HofMarchwereassessedloweratthe
Theforwardnaphthamarketpriceindicationsforthe2HofMarchwereupattheUSD929/mt
levels.
The forward naphtha market price indications for the 1H of April were up at the USD
935.50/mtlevels.
Open specnaphtha bid prices on February 17 for the 1H of April wereassessed higher at the
levels. The forward naphtha market price indications for the 1H of April were up at the USD
937.50/mtlevels.
944.50/mtlevels.
942.50/mtlevels.
levels.
Open spec naphtha bid prices on February 21 for the 1H of April were assessed down at the
940.50/mtlevels.

17

948.50/mtlevels.
levels.Theforwardnaphthamarketpriceindicationsforthe1HofAprilweredownattheUSD
946.50/mtlevels.
Open spec naphtha bid prices on February 26 for the 1H of April were assessed lower at the
948/mtlevels.
Open spec naphtha bid prices on February 27 for the 1H of April were assessed lower at the
levels.Theforwardnaphthamarketpriceindicationsforthe1HofAprilweredownattheUSD
939/mtlevels.
levels.

18

Naphtha Graphical Trend

19

LLDPE prices inched lower in parts of Asia during week 1. On February 7, CFR Far East Asia
pricesofLLDPEwereassessedflatattheUSD1550/mtmarkwhileCFRSouthEastAsiaprices
wereassessedsteadyattheUSD1580/mtmark.CFRSouthAsiapriceswereassesseddownat
the USD 1560/mt levels, a week on week fallof USD 5/mt. In the domesticmarkets of China,
LLDPE prices were assessed at the Yuan 11420/mt ex works levels. Buying and selling action
hasbeenmutedonaccountoftheholidaysinkeymarketslikeChina,TaiwanandVietnam.In
India,Sabic,SaudiArabiahasoffereditsLLDPEfilmgradeattheUSD15501560/mtlevels,on
aCIFNhavaShevaportbasis,forendFebruary/earlyMarch2014shipment.
AweekonweekfallinupstreamethyleneratespushedLLDPEpriceslowerinAsiaduringweek
2. Supporting the price fall were dull buying trends in key markets like China post the Lunar
NewYearholidays.OnFebruary14,CFRFarEastAsiapricesofLLDPEwereassessedlowerat
the USD 1500/mt mark, a sharp fall of USD 50/mt on thet week. CFR South East Asia prices
wereassesseddownattheUSD1570/mtmark,aweekonweekdropofUSD10/mt.CFRSouth
Asia prices were assessed lower at the USD 1550/mt levels, a drop of USD 10/mt. In the
domesticmarketsofChina,LLDPEpriceswereassesseddownattheYuan11220/mtexworks
levels.
LLDPE prices in Asia dropped during week 3. Softer buying trends coupled with high product
inventory levels in key markets like China supported the price fall. On February 21, CFR Far
East Asia prices of LLDPE were assessed lower at the USD 1475/mt mark, a sharp fall of USD
25/mtontheweek.CFRSouthEastAsiapriceswereassesseddownattheUSD1555/mtmark,
a week on week drop of USD 15/mt. CFR South Asia prices were assessed stable at the USD
1550/mt levels. In the domestic markets of China, LLDPE prices were assessed down at the
Yuan10680/mtexworkslevels.InChina,SinopechasreduceditsLLDPEpricesbyYuan350/mt
toYuan10850/mtlevels.
LLDPE prices in Asia were assessed mixed during week 4. CFR South East Asia prices were
assesseddownattheUSD1540/mtmark,aweekonweekdropofUSD15/mt.CFRSouthAsia
priceswereassessedlowerattheUSD1530/mtlevels,asharpfallofUSD20/mtontheweek.
Thepricefallwastriggeredbypoorbuyingsentimentsintheregion.OnFebruary28,CFRFar
East Asia prices of LLDPE were assessed up at the USD 1505/mt mark. Prices climbed in
anticipation of a lift in buying trends going forward. In the domestic markets of China, LLDPE
priceswereassessedattheYuan10905/mtexworkslevels.Inplantnews,Qatofinisinplans
A. Polymers
A.1 LLDPE Summary

20

to shut its 450,000 mt/year LLDPE plant, located at Mesaieed, Qatar, in midApril 2014. The
plant is expected to remain shut for maintenance turnaround of about one month. Shanghai
SeccoPetrochemicalislikelytoshutitsLLDPEplantformaintenanceturnaroundonMarch10,
2014.LocatedinShanghai,China,theplanthasaproductioncapacityof300,000mt/yearand
islikelytoremainoffstreamforaroundonemonth.
A1(a)PolymersAverageweeklypriceofLLDPEFilm@CFRIndiaBasis
forFebruary2014(USD/Tonne)
Grade Market W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Film
South
Korea
1590 1590 1590 1570 1585 1546 1522 1520
Singapore 1600 1600 1600 1580 1595 1556 1532 1530
Thailand 1590 1590 1590 1570 1585 1546 1522 1520
Saudi
Arabia
1560 1560 1560 1540 1555 1519 1492 1490
Kuwait 1560 1560 1560 1540 1555 1508 1482 1480

A.1 LLDPE Price Chart & Graphical Trend

21

A1(b)PolymersAverageweeklypriceofLLDPERotoMoulding
@CFRIndiaBasisforFebruary2014(USD/Tonne)
Feb
14
Jan
14
Dec
13
Nov
13
RotoMoulding
South
Korea
1610 1610 1610 1590 1605 1566 1542 1540
Saudi
Arabia
1610 1610 1610 1590 1605 1566 1542 1540

22

A1(c)PolymersAverageweeklypriceofLLDPEInjection
Feb
14
Jan
14
Dec
13
Nov
13
InjectionMoulding
South
Korea
1630 1630 1630 1610 1625 1586 1562 1560
Singapore 1630 1630 1630 1610 1625 1586 1562 1560
Thailand 1620 1620 1620 1600 1615 1576 1552 1550
Saudi
Arabia
1610 1610 1610 1590 1605 1566 1542 1540

23

PriceMovementofLLDPECFRIndiabasisduringNovember2013
toFebruary2014(USD/Tonne)
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Film
South
Korea
1590 1570 1590 1520
Singapore 1600 1580 1600 1530
Thailand 1590 1570 1590 1520
Saudi
Arabia
1560 1540 1560 1490
Kuwait 1560 1540 1560 1480
RotoMoulding
South
Korea
1640 1590 1640 1540
Saudi
Arabia
1610 1590 1610 1540
InjectionMoulding
South
Korea
1630 1610 1630 1560
Singapore 1630 1610 1630 1560
Thailand 1620 1600 1620 1550
Saudi
Arabia
1610 1590 1610 1540
Metallocene
Singapore 1780 1870 1780 1700
A.1 LLDPE Price Movement

24

PlantUpdateofLLDPEforFebruary2014
Company Location Product Capacity Schedule Remarks
LLDPE
Qatofin
Mesaieed,
Qatar
LLDPE
450,000
mt/year
MidApril
2014
Maintenance
Turnaround
(1Month)
ShenhuaBaotou
CoalChemical
Shenhua,
China
LLDPE 300,000
mt/year
Jul14 Maintenance
Turnaround HDPE (1Month)
ShanghaiSecco
Petrochemical
Shanghai,
China
LLDPE
300,000
mt/year
18Feb14
Unplanned
maintenance
A.1 LLDPE Plant Update

25

LDPE prices were assessed stable during week 1. On February 7, CFR Far East Asia prices of
LDPE were assessed flat at the USD 1670/mt mark while CFR South East Asia prices were
assessedunchangedattheUSD1700/mtmark.InChina,domesticratesofLDPEwereassessed
at the Yuan 12720/mt ex works levels. When sellers polled said holidays in key markets like
China,TaiwanandVietnamsawregionalactivitycrippledwithsellersreportingmutedbuying
trends.Inplantnews,QatarPetrochemicalCompanyislikelytoshutits700,000mt/yearLDPE
plant, located at companys Mesaieed petrochemical complex in Qatar, in Q1 2014, for
maintenanceturnaround.Theplantisexpectedtoremainshutforaroundonemonth.
A week on week fall in feedstock ethylene values pushed LDPE prices lower in Asia during
week 2. Supporting the price drop were bearish domestic pricing trends in key markets like
China. On February 14, CFR Far East Asia prices of LDPE were assessed down at the USD
1630/mt mark, a sharp fall of USD 40/mt. CFR South East Asia prices were assessed lower at
theUSD1690/mtmark,downUSD10/mtontheweek.InChina,domesticratesofLDPEwere
assessed lower at the Yuan 12320/mt ex works levels. In China, Sinopec lowered its LDPE
pricesinEastChinabyYuan400/mttoYuan12300/mtlevels.
LDPEpriceswerehammeredlowerinAsiaduringweek3.Thepricefallwastriggeredbyample
product availability and weak demand in the region. Supporting the price drop were bearish
domesticpricingtrendsinkeymarketslikeChina.OnFebruary21,CFRFarEastAsiapricesof
LDPEwereassesseddownattheUSD1600/mtmark,aweekonweeksharpfallofUSD30/mt.
CFR South East Asia prices were assessed lower at the USD 1660/mt mark, a tumble of USD
30/mt on the week. In China, domestic rates of LDPE were assessed lower at the Yuan
11780/mtexworkslevels.InChina,SinopechassharplylowereditsLDPEpricesinEastChina
byYuan500/mttoYuan11800/mtlevels.
Despiteaweekonweekriseinfeedstockethylenevalues,LDPEpricesplungedinAsiaduring
week 4. Prices fell as the buying mood continued to remain dull across the Asian region. CFR
Far East Asia prices of LDPE were assessed down at the USD 1560/mt mark, a plunge of USD
70/mt on the week. CFR South East Asia prices of LDPE were assessed lower at the USD
1600/mtmark,atumbleofUSD60/mt.InChina,domesticratesofLDPEwereassessedatthe
Yuan 11905/mt ex works levels. When traders polled said, the volume of unsold product
inventoriesremainshigh,addingtothebearishpricingundertonethathasgrippedtheregion.
A.2 LDPE Summary

26

A2(a)PolymersAverageweeklypriceofLDPEGeneralPurpose
Feb
14
Jan
14
Dec
13
Nov
13
GeneralPurpose
South
Korea
1660 1660 1660 1660 1660 1630 1587 1570
Singapore 1670 1670 1670 1670 1670 1640 1597 1580
Thailand 1670 1670 1670 1670 1670 1646 1602 1570
Qatar 1640 1640 1640 1640 1640 1610 1567 1550
A.2 LDPE Price Chart & Graphical Trend

27

A2(b)PolymersAverageweeklypriceofLDPEHeavyDuty@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
HeavyDuty
South
Korea
1660 1660 1660 1660 1660 1630 1587 1570
Singapore 1670 1670 1670 1670 1670 1640 1597 1580
Thailand 1670 1670 1670 1670 1670 1646 1602 1570
Qatar 1640 1640 1640 1640 1640 1610 1567 1550

28

A2(c)PolymersAverageweeklypriceofLDPEMilkPouch@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
MilkPouch
South
Korea
1660 1660 1660 1660 1660 1630 1587 1570
Singapore 1670 1670 1670 1670 1670 1640 1597 1580
Thailand 1670 1670 1670 1670 1670 1646 1602 1570
Qatar 1640 1640 1640 1640 1640 1610 1567 1550

29

A2(d)PolymersAverageweeklypriceofLDPEInjectionMoulding@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
InjectionMoulding
South
Korea
1680 1680 1680 1680 1680 1650 1607 1590
Singapore 1690 1690 1690 1690 1690 1660 1617 1600
Thailand 1690 1690 1690 1690 1690 1672 1632 1600

30

PriceMovementofLDPECFRIndiabasisduring
November2013toFebruary2014(USD/Tonne)
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
GeneralPurpose
South
Korea
1660 1660 1660 1570
Singapore 1670 1670 1670 1580
Thailand 1670 1670 1670 1570
Qatar 1640 1640 1640 1550
HeavyDuty
South
Korea
1660 1660 1660 1570
Singapore 1670 1670 1670 1580
Thailand 1670 1670 1670 1570
Qatar 1640 1640 1640 1550
MilkPouch
South
Korea
1660 1660 1660 1570
Singapore 1670 1670 1670 1580
Thailand 1670 1670 1670 1570
Qatar 1640 1640 1640 1550
InjectionMoulding
South
Korea
1680 1680 1680 1590
Singapore 1690 1690 1690 1600
Thailand 1690 1690 1690 1600
Lamination
Qatar 1880 1880 1880 1750
A.2 LDPE Price Movement

31

PlantUpdateofLDPEforFebruary2014
LDPE
SamsungTotal
Daesan,
SouthKorea
EVA/LDPE
240,000
mt/year
MidFeb
2014
Newtubularplant
likelytobe
started.
Hanwha
Chemicals
Ulsan,South
Korea
EVA/LDPE
(3Lines)
40,000
mt/yeareach
Sep14
Maintenance
turnaround (1Months)
A.2 LDPE Plant Update

32

HDPE prices were assessed steady in Asia during week 1. In Far East Asia, prices of HDPE
injection moulding were assessed flat at the USD 1460/mt levels. HDPE blow moulding prices
wereassessedsteadyattheUSD1500/mtCFRlevels.HDPEyarnpriceswereunchangedatthe
USD1565/mtlevelswhileHDPEfilmpriceswereassessedstableattheUSD1545/mtlevels.In
South East Asia, prices of HDPE injection were steady at the USD 1500/mt levels while HDPE
BM prices were flat at the USD 1530/mt. HDPE yarn prices were assessed steady at the USD
1560/mt levels. HDPE film prices were assessed stable at the USD 1555/mt levels. In South
Asia,pricesofHDPEinjectionwereassesseddownattheUSD1530/mtlevels,aweekonweek
fall of USD 10/mt. HDPE BM prices were lower at the USD 1530/mt levels, a drop of USD
10/mt.HDPEfilmpriceswereassessedunchangedattheUSD1550/mtCFRSouthAsialevels.
InChina,localpricesofHDfilmwereattheYuan12120/mtexworkslevels.
HDPE prices drifted lower in Asia during week 2. The price fall was triggered by dull demand
sentiments coupled with weaker feedstock ethylene values. In Far East Asia, prices of HDPE
injection moulding were assessed lower at the USD 1450/mt levels, down USD 10/mt on the
week.HDPEblowmouldingpriceswereassesseddownattheUSD1480/mtCFRlevels,aweek
on week sharp fall of USD 20/mt. HDPE yarn prices were lower at the USD 1550/mt levels,
downUSD15/mt.OnFebruary14,HDPEfilmpriceswereassessedlowerattheUSD1520/mt
levels, down USD 25/mt. In South East Asia, prices of HDPE injection were steady at the USD
1500/mtlevelswhileHDPEBMpriceswerelowerattheUSD1500/mt,atumbleofUSD30/mt.
HDPE yarn prices were assessed down at the USD 1545/mt levels. HDPE film prices were
assessed lower at theUSD 1530/mt levels, asharp drop of USD 25/mt on the week. In South
Asia,pricesofHDPEinjectionandHDPEBMwereassessedupattheUSD1530/mtlevelswhile
HDPEfilmpriceswereassessedunchangedattheUSD1550/mtCFRSouthAsialevels.InChina,
localpricesofHDfilmwereattheYuan12120/mtexworkslevels.
Despiteaweekonweekgaininfeedstockethylenevalues,HDPEpricesfinishedlowerinAsia
duringweek3.Supportingthepricefallwereweakerbuyingtrendswitnessedinkeymarkets
like China. In Far East Asia, HDPE film prices on February 21 were assessed down at the USD
1500/mtlevels,atumbleofUSD20/mtontheweek.HDPEyarnpriceswerelowerattheUSD
1530/mtlevels,asharpfallofUSD20/mt.HDPEinjectionmouldingpriceswereassessedflatat
the USD 1450/mt levels while HDPE blow moulding prices were assessed steady at the USD
1480/mt CFR levels. In South East Asia, prices of HDPE film were assessed lower at the USD
1515/mt levels, a drop of USD 15/mt on the week. HDPE injection and HDPE BM prices were
steadyattheUSD1500/mtlevels.HDPEyarnpriceswereassesseddownattheUSD1525/mt
levels,aweekonweekdeclineofUSD20/mt.InSouthAsia,pricesofHDPEinjectionandHDPE
BM were assessed down at the USD 1530/mt levels while HDPE film prices were assessed
A.3 HDPE Summary

33

lowerattheUSD1545/mtCFRSouthAsialevels,afallofUSD5/mt.InChina,localpricesofHD
filmweredownattheYuan12080/mtexworkslevels.SinopechasslasheditsHDPEpricesby
Yuan100/mttoYuan12100/mtlevels.
HDPEpriceswereassessedmixedinAsiaduringweek4.InFarEastAsia,pricesofHDPEfilmon
February 28 were assessed up at the USD 1525/mt levels, a gain of USD 25/mt on the week.
HDPEyarnpriceswerehigherattheUSD1540/mtlevels,aweekonweekriseofUSD10/mt.
HDPE injection moulding prices were assessed down at the USD 1445/mt levels while HDPE
blow moulding prices were assessed lower at the USD 1475/mt CFR levels, both down USD
5/mt. In South East Asia, prices of HDPE film were assessed flat at the USD 1515/mt levels.
HDPE injection and HDPE BM prices were down at the USD 1495/mt levels, a drop of USD
5/mt.HDPEyarnpriceswereassessedsteadyattheUSD1525/mtlevels.InSouthAsia,prices
of HDPE injection and HDPE BM were assessed down at the USD 1525/mt levels, a week on
weekdropofUSD5/mt.HDPEfilmpriceswereassessedlowerattheUSD1530/mtCFRSouth
Asia levels, a fall of USD 15/mt. In China, local prices of HD film were down at the Yuan
11705/mt ex works levels. Buyers in China who had retreated to the sidelines cited high
productinventorylevelsandsubduedbuyingtrendsasreasontojustifytheirdecisiontoavoid
purchases. In plant news, Shanghai Golden Phillips has restarted its 135,000 mt/year HDPE
plant,locatedinshanghai,China,onFebruary23,2014.TheplantwasshutonFebruary11for
amaintenanceturnaround.

34

A3(a)PolymersAverageweeklypriceofHDPERaffia@CFRIndiaBasisfor
February2014(USD/Tonne)
Feb
14
Jan
14
Dec
13
Nov
13
Raffia
South
Korea
1590 1590 1590 1590 1590 1566 1542 1540
Thailand 1580 1580 1580 1580 1580 1566 1531 1530
A.3 HDPE Price Chart & Graphical Trend

35

A3(b)PolymersAverageweeklypriceofHDPEFilm@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
Film
South
Korea
1570 1570 1570 1570 1570 1546 1522 1520
Singapore 1560 1560 1560 1560 1560 1536 1512 1510
Thailand 1570 1570 1570 1570 1570 1546 1522 1520
Saudi
Arabia
1540 1540 1540 1540 1540 1516 1492 1490
Kuwait 1540 1540 1540 1540 1540 1508 1482 1480

36

A3(c)PolymersAverageweeklypriceofHDPEInjectionMoulding@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
InjectionMoulding
South
Korea
1580 1580 1580 1580 1580 1556 1532 1530
Singapore 1570 1570 1570 1570 1570 1546 1522 1520
Thailand 1590 1590 1590 1590 1590 1566 1542 1540
Saudi
Arabia
1560 1560 1560 1560 1560 1536 1512 1510

37

A3(d)PolymersAverageweeklypriceofHDPEBlowMoulding@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
BlowMoulding
South
Korea
1560 1560 1560 1560 1560 1536 1512 1510
Singapore 1570 1570 1570 1570 1570 1546 1522 1520
Thailand 1570 1570 1570 1570 1570 1546 1522 1520

38

PriceMovementofHDPECFRIndiabasisduring
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Raffia
SouthKorea 1590 1590 1590 1540
Thailand 1580 1580 1580 1530
Film
SouthKorea 1570 1570 1570 1520
Singapore 1560 1560 1560 1510
Thailand 1570 1570 1570 1520
SaudiArabia 1540 1540 1540 1490
Kuwait 1540 1540 1540 1480
InjectionMoulding
SouthKorea 1580 1580 1580 1530
Singapore 1570 1570 1570 1520
Thailand 1590 1590 1590 1540
SaudiArabia 1560 1560 1560 1510
BlowMoulding
SouthKorea 1560 1560 1560 1510
Singapore 1570 1570 1570 1520
Thailand 1570 1570 1570 1520
Pipe
SouthKorea 1590 1590 1590 1540
HMHD
SouthKorea 1620 1620 1620 1570
Singapore 1600 1600 1600 1550

A.3 HDPE Price Movement

39

PlantUpdateofHDPEforFebruary2014
HDPE
Shanghai
GoldenPhillips
Petrochemical
Shanghai,
China
HDPE
135,000
mt/year
20Feb14
Likelytobe
restarted.Itwas
shutowingto
ethylene
shortage.
Sinopec
Shanghai
Petrochemical
Shanghai,
China
HDPE
250,000
mt/year
Restarted
Lastweek
Plantresumed
production
followinga
maintenance
turnaround.
Shanghai
GoldenPhillips
Shanghai,
China
HDPE
135,000
mt/year
23Feb14
Restarted.The
plantwasshutfor
maintenance
turnaround
A.3 HDPE Plant Update

40

Polypropylene(PP)pricesinAsiawereassessedmixedduringweek1.OnFebruary7,CFRFar
EastAsiapricesofPPraffiaandPPinjectionwereassessedflatattheUSD1485/mtlevels.PP
raffia and PP injection prices were assessed stable at the USD 1550/mt CFR South East Asia
levels.PPblockcopolymerpriceswereassessedsteadyattheUSD1530/mtCFRFarEastAsia
levels while CFR South East Asia prices of PP block copolymer were assessed flat at the USD
1590/mt levels. BOPP prices were assessed unchanged at the USD 1505/mt CFR Far East Asia
levels while CFR South East Asia prices of BOPP were assessed stable at the USD 1575/mt
levels. CFR Far East Asia, PP film prices were assessed flat at the USD 1505/mt levels. CFR
South East Asia prices of PP film were unchanged at the USD 1565/mt levels. In South Asia,
pricesPPraffiaandPPinjectionpriceswereassesseddownattheUSD1530/mtlevels,afallof
USD5/mtontheweek.PPfilmpriceswereassessedhigherattheUSD1570/mtlevels,aweek
on week increase of USD 10/mt. BOPP prices were assessed flat the USD 1560/mt CFR South
AsialevelswhilePPblockcopolymerpriceswereunchangedattheUSD1580/mtlevels.Inthe
domesticmarketsofChina,PPpriceswereassessedattheYuan11220/mtexworkslevels.In
India, last week, PetroRabigh has offered its PP raffia grade at the USD 15451555/mt levels
whileOmanPP,OmanisheardtohaveoffereditsPPraffiaandPPinjectiongradesattheUSD
1540/mtlevels.TheseoffersareforFebruary2014shipment,onaCIFNhavaShevaportbasis.
In Pakistan, Natpet, Saudi Arabia, has offered its PP raffia grade at the USD 1550/mt levels.
ThisofferisforendFebruary2014shipment,onaCNFKarachiportbasis.
Polypropylene(PP)pricesinAsiawereassessedmixedduringweek2.OnFebruary14,CFRFar
East Asia prices of PP raffia and PP injection were assessed lower at the USD 1480/mt levels.
PP raffia and PP injection prices were assessed up at the USD 1555/mt CFR South East Asia
levels,aweekonweekriseofUSD5/mt.PPblockcopolymerpriceswereassesseddownatthe
USD1515/mtCFRFarEastAsialevels,adropofUSD15/mtontheweekwhileCFRSouthEast
AsiapricesofPPblockcopolymerwereassessedlowerattheUSD1585/mtlevels.BOPPprices
were assessed up at the USD 1510/mt CFR Far East Asia levels, a week on week gain of USD
5/mt. CFR South East Asia prices of BOPP were assessed lower at the USD 1560/mt levels,
down USD 15/mt. CFR Far East Asia, PP film prices were assessed flat at the USD 1505/mt
levels.CFRSouthEastAsiapricesofPPfilmwereupattheUSD1570/mtlevels,upUSD5/mt.
In South Asia, prices PP raffia were assessed higher at the USD 1540/mt levels, a rise of USD
10/mt on the week. PP injection prices were assessed unchanged at the USD 1530/mt CFR
South Asia levels. PP film prices were assessed down at the USD 1565/mt levels, a week on
weekfallofUSD5/mt.BOPPpriceswereassessedflattheUSD1560/mtCFRSouthAsialevels
whilePPblockcopolymerpriceswereupattheUSD1590/mtlevels.Inthedomesticmarkets
ofChina,PPpriceswereassessedattheYuan11120/mtexworkslevels.WhenbuyersinChina
polledsaidtheyareinnohurrytopurchaseasavailabilityofPPremainedampleintheregion.
A.4 PP Summary

41

Polypropylene(PP)pricesinAsiainchedlowerduringweek3.Pricesfellmainlyonaccountof
weakdemandtrendsacrossAsia.OnFebruary21,CFRFarEastAsiapricesofPPraffiaandPP
injection were assessed down at the USD 1460/mt levels, a week on week fall of USD 20/mt.
PPraffiaandPPinjectionpriceswereassessedlowerattheUSD1550/mtCFRSouthEastAsia
levels,adropofUSD5/mtontheweek.PPblockcopolymerpriceswereassesseddownatthe
USD1510/mtCFRFarEastAsialevels,adropofUSD5/mtwhileCFRSouthEastAsiapricesof
PP block copolymer were assessed lower at the USD 1580/mt levels. BOPP prices were
assesseddownattheUSD1505/mtCFRFarEastAsialevels,afallofUSD5/mt.CFRSouthEast
AsiapricesofBOPPwereassessedlowerattheUSD1555/mtlevels,downUSD5/mt.CFRFar
EastAsia,PPfilmpriceswereassessedattheUSD1500/mtlevels.CFRSouthEastAsiapricesof
PP film were at the USD 1565/mt levels, both down USD 5/mt. In South Asia, prices PP raffia
wereassessed lower atthe USD 1535/mt levels, a fall of USD 5/mt on the week. PP injection
prices were assessed down at the USD 1525/mt CFR South Asia levels. PP film prices were
assesseddownattheUSD1560/mtlevels,afallofUSD5/mt.BOPPpriceswereassessedlower
theUSD1555/mtCFRSouthAsialevelswhilePPblockcopolymerpricesweredownattheUSD
1585/mt levels. In the domestic markets of China, PP prices were assessed lowerat the Yuan
10800/mt ex works levels. In Pakistan, APPC, Saudi Arabia has offered PP raffia and PP
injectiongradesattheUSD1540/mtlevels,forshipmentinMarch2014,onaCNFKarachiport
basis.
Polypropylene (PP) prices in Asia declined during week 4. Prices declined on the back of
sluggish regional buying trends. The fall was supported by a slide in feedstock propylene
values.OnFebruary28,CFRFarEastAsiapricesofPPraffiaandPPinjectionwereassessedat
the USD 1470/mt levels. PP raffia and PP injection prices were assessed lower at the USD
1540/mt CFR South East Asia levels, a drop of USD 10/mt on the week. PP block copolymer
prices were assessed flat at the USD 1510/mt CFR Far East Asia levels while CFR South East
AsiapricesofPPblockcopolymerwereassessedstableattheUSD1580/mtlevels.BOPPprices
wereassesseddownattheUSD1495/mtCFRFarEastAsialevels,aweekonweekfallofUSD
10/mt. CFR South East Asia prices of BOPP were assessed unchanged at the USD 1555/mt
levels.CFRFarEastAsia,PPfilmpriceswereassesseddownattheUSD1495/mtlevels,aweek
on week drop of USD 5/mt. CFR South East Asia prices of PP film were at the USD 1555/mt
levels, down USD 10/mt. In South Asia, PP raffia prices were assessed lower at the USD
1530/mt levels, a fall of USD 5/mt. PP injection prices were assessed steady at the USD
1525/mtCFRSouthAsialevels.PPfilmpriceswereassessedstableattheUSD1560/mtlevels.
BOPP prices wereassessed the USD 1565/mt CFR South Asia levels while PP block copolymer
prices were at the USD 1585/mt levels. In the domestic markets of China, PP prices were
assessed at the Yuan 10820/mt ex works levels. In plant news, an industry source informed
that Borouge has reportedly restarted two polypropylene (PP) lines. The lines are located at
theBorouge1andBorouge2complexesintheUAEandhaveacombinedproductioncapacity
of800,000mt/year.TheywereshutinendDecember2013forannualmaintenanceofaround

42

4050 days. In another plant news, Luoyang Petrochemical has taken offstream its 140,000
mt/year PPplant, located at Henan province, China on February 22, 2014 owing to feedstock
shortage. Yanbu National Petrochemical Co (Yansab) is in plans to shut its 400,000 mt/yer PP
plant for maintenance turnaround in April 2014. The plant is located in Yanbu, Saudi Arabia
andislikelytobeshutinApril2014.Itisexpectedtoremainoffstreamforaroundonemonth.
A4(a)PolymersAverageweeklypriceofPPRaffia@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
Raffia
South
Korea
1545 1545 1545 1541 1544 1525 1505 1505
Singapore 1545 1545 1545 1541 1544 1525 1505 1505
Thailand 1545 1545 1545 1541 1544 1525 1505 1505
Saudi
Arabia
1530 1530 1530 1526 1529 1510 1490 1500
A.4 PP Price Chart & Graphical Trend

43

A4(b)PolymersAverageweeklypriceofPPInjectionMoulding@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
InjectionMoulding
South
Korea
1545 1545 1545 1541 1544 1525 1505 1505
Singapore 1545 1545 1545 1541 1544 1525 1505 1505
Thailand 1545 1545 1545 1541 1544 1525 1505 1505
Saudi
Arabia
1530 1530 1530 1526 1529 1510 1490 1500

44

A4(c)PolymersAverageweeklypriceofPPTQFilm@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
TQFilm
South
Korea
1575 1575 1575 1571 1574 1555 1535 1535
Singapore 1575 1575 1575 1571 1574 1555 1535 1535
Thailand 1575 1575 1575 1571 1574 1555 1535 1535
Saudi
Arabia
1570 1570 1570 1566 1569 1542 1510 1520

45

A4(d)PolymersAverageweeklypriceofPPBlockCopolymer@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
BlockCopolymer
South
Korea
1600 1600 1600 1600 1600 1593 1575 1575
Singapore 1590 1590 159 1590 1590 1575 1535 1535
Thailand 1590 1590 1590 1590 1590 1575 1535 1535

46

A4(e)PolymersAverageweeklypriceofPPRandomCopolymer@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
RandomCopolymer
South
Korea
1665 1665 1665 1665 1665 1665 1665 1665
Singapore 1665 1665 1665 1665 1665 1665 1665 1665
Thailand 1665 1665 1665 1665 1665 1665 1665 1665

47

A4(f)PolymersAverageweeklypriceofPPBOPP@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
BOPPHomopolymer
South
Korea
1560 1560 1560 1556 1559 1540 1520 1520
Singapore 1560 1560 1560 1556 1559 1540 1520 1520
Thailand 1570 1570 1570 1566 1569 1550 1530 1530

48

PriceMovementofPPCFRIndiabasisduring
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Raffia
SouthKorea 1545 1535 1545 1505
Singapore 1545 1535 1545 1505
Thailand 1545 1535 1545 1505
SaudiArabia 1530 1520 1530 1490
InjectionMoulding
SouthKorea 1545 1535 1545 1505
Singapore 1545 1535 1545 1505
Thailand 1545 1535 1545 1505
SaudiArabia 1530 1520 1530 1490
TQFilm
SouthKorea 1575 1565 1575 1535
Singapore 1575 1565 1575 1535
Thailand 1575 1565 1575 1535
SaudiArabia 1570 1560 1570 1510
BlockCopolymer
SouthKorea 1600 1600 1600 1575
Singapore 1590 1590 1590 1535
Thailand 1590 1590 1590 1535
RandomCopolymer
SouthKorea 1665 1665 1665 1665
Singapore 1665 1665 1665 1665
Thailand 1665 1665 1665 1665
BOPP
SouthKorea 1560 1550 1560 1520
Singapore 1560 1550 1560 1520
Thailand 1570 1560 1570 1530
A.4 PP Price Movement A.4 PP Price Movement

49

PlantUpdateofPPforFebruary2014
PP
Dalian
Petrochemical
Liaoning,
China
PP
70,000
mt/year
Q12014
Maintenance
Turnaround
Formosa
Chemical&
FibreCorp
(FCFC)
Mailiao,
Taiwan
PP
460,000
mt/year
20Feb14
Maintenance
Turnaround (1Month)
LotteChemical
Titan
Pasir
Gudang,
Malaysia
PP
200,000
mt/year
6Feb14
Theplantwas
restarted,
followingabrief
outage.
Formosa
Chemical&
FibreCorp
Mailiao,
Taiwan
PP
460,000
mt/year
20Feb14
Maintenance
Turnaround (1month)
DaqingRefining
&Chemical
Heilongjiang,
China
PP
300,000
mt/year
Restarted
Lastweek
Plantresumed
production
followinga
maintenance
turnaround.
LyondellBasell
Carrington,
UK
PP
210,000
mt/year
12Feb14
Theforce
majeure(FM)
wasdeclaredon
accountofa
shortageof
feedstock
propylene
LyondellBasell
subsidiary
Equistar
USA PP
Theforce
majeure(FM)
wasdeclaredon
February16,
2014onaccount
ofashortageof
feedstock
propylene
A.4 PP Plant Update

50

Borouge UAE
PP
800,000
mt/year
LastWeek
Restarted.These
2lineswereshut
inend
December2013
forannual
maintenance.
(2Line)
Luoyang
Petrochemical
Henan,
China
PP
140,000
mt/year
22Feb14
Plantwasshut
owingto
feedstock
shortage.
Sinopec
Changling
Hunan
province,
China
PP
100,000
mt/year
9Mar14
Maintenance
Turnaround (45Days)
Shanghai
Petrochemical
Shanghai,
China
PP
200,000
mt/year
28Feb14
Maintenance
Turnaround
(PlantNo.1
&2)
(1Month)
BinhSon
Refiningand
Petrochemical
Vietnam PP
150,000
mt/year
May14
Maintenance
Turnaround (1Month)
Shenhua
NingxiaCoal
IndustryGroup
NingxiaHui,
China
PPPlant
No.1
200,000
mt/year
24Feb14
Boththeplants
restarted
following
maintenance
turnaround
PPPlant
No.2
300,000
mt/year
FujianRefining
&Petrochemical
(FREP)
Fujian,China PP
220,000
mt/year
24Feb14
Maintenance
turnaround
(1Months)

51

PVCpriceswereassessedsteadyinAsiaduringweek1.CFRChinapricesofPVCwereassessed
flat at the USD 1060/mt levels. Buying sentiments were muted as the market was shut on
account of the lunar New Year holidays from January 31, 2014. CFR South East Asia prices of
PVC were assessed unchanged at the USD 1060/mt levels. In China, domestic prices of
ethylenebasedPVCwereassessedsteadyattheYuan7160/mtlevelswhilecarbidebasedPVC
werestableattheYuan6360/mtlevels.InIndia,amajorSouthKoreanproducerisofferingits
PVCresinsuspensiongradeattheUSD10801090/mtlevels,onaCIFNhavaShevaportbasis,
forshipmentinFebruary2014.
PVCpricesedgedlowerinpartsofAsiaduringweek2.CFRChinapricesofPVCwereassessed
flat at the USD 1060/mt levels. CFR South East Asia prices of PVC were assessed down at the
USD1055/mtlevels,aweekonweekdecreaseofUSD5/mt.Weakerupstreamethylenerates
supportedthepricefall.InChina,domesticpricesofethylenebasedPVCwereassessedsteady
attheYuan7160/mtlevelswhilecarbidebasedPVCwerestableattheYuan6360/mtlevels.
PVC prices inched higher in Asia during week 3. The price rise was attributed to firmer
upstream ethylene values. CFR China prices of PVC were assessed up at the USD 1065/mt
levels, a week on week gain of USD 5/mt. CFR South East Asia prices of PVC were assessed
higherattheUSD1060/mtlevels,ariseofUSD5/mtfromlastweek.InChina,domesticprices
ofethylenebasedPVCwereassessedupattheYuan7210/mtlevelswhilecarbidebasedPVC
werestableattheYuan6360/mtlevels.InIndia,Formosa,Taiwanisheardtohaveconcluded
severaldealsforPVCresinsuspensiongradeattheUSD1090/mtlevels,onaCIFNhavaSheva
portbasis,forshipmentinMarch2014.ASouthKoreanproducerisheardtohaveofferedits
PVC resin suspension grade at theUSD 1100/mt levels, for shipment in March 2014, on a CIF
NhavaShevaportbasis.
Despiteariseinfeedstockethylenerates,PVCpricesdeclinedinAsiaduringweek4.Reports
ofsubduedregionalbuyingtrendspressuredthespotPVCpricelower.CFRChinapricesofPVC
were assessed down at the USD 1055/mt levels, a fall of USD 10/mt on the week. CFR South
East Asia prices of PVC were assessed stable at the USD 1060/mt levels. In China, domestic
prices of ethylene based PVC were assessed down at the Yuan 7210/mt levels while carbide
based PVC were lower at the Yuan 6260/mt levels. In India, Formosa, Taiwan has concluded
severaldealsforPVCresinsuspensiongradeattheUSD1070/mtlevels,onaCIFNhavaSheva
portbasis,forshipmentinMarch2014.ASouthKoreanproducerisheardtohaveofferedits
PVCresinsuspensiongradeattheUSD10701080/mtlevels,forshipmentinMarch2014,ona
CIFNhavaShevaportbasis.
A.5 Polyvinyl Chloride (PVC) Summary

52

A5(a)PolymersAverageweeklypriceofPVCSuspension@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
Suspension
South
Korea
1074 1080 1080 1080 1079 1060 1042 1018
Thailand 1080 1080 1080 1080 1080 1060 1034 1008
Taiwan 1070 1077 1070 1070 1072 1065 1034 1008
A.5 - Polyvinyl Chloride (PVC) Price Chart & Graphical Trend

53

A5(b)PolymersAverageweeklypriceofPVCEmulsion@CFRIndiaBasis
Feb
14
Jan
14
Dec
13
Nov
13
Emulsion
South
Korea
1300 1300 1300 1300 1300 1288 1250 1250
Taiwan 1290 1290 1290 1290 1290 1278 1240 1240
PriceMovementofPVCCFRIndiabasisduring
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Suspension
South
Korea
1080 1070 1080 1010
Thailand 1080 1080 1080 1000
Taiwan 1090 1070 1090 1000
Emulsion
South
Korea
1300 1300 1300 1250
Taiwan 1290 1290 1290 1240

A.5 - Pol yvinyl Chloride (PVC) Price Movement

54

PlantUpdateofPVCforFebruary2014
PVC
Shintech
Freeport,
Texas
PVC
1.4million
mt/yr
Mar14
Maintenance
Turnaround (1Month)
Shandong
EnergyXinwen
Shandong,
China
PVC
100,000
mt/year.
8Feb14
Maintenance
Turnaround (1month)
Tosoh
Guangzhou
Guangzhou,
China
PVC
220,000
mt/year
16Feb14
Maintenance
turnaround (1Week)
ShinEtsu
Kashima,
Japan
PVC
550,000
mt/year
May14
Maintenance
Turnaround (1Month)
A.5 PVC Plant Update

55

PS prices were assessed steady in Asia during week 1. Prices were assessed flat in Asia on
account of the Lunar New Year holidays in China and Taiwan which crippled demand. CFR
China prices of GPPS were assessed flat at the USD 1800/mt levels while CFR South East Asia
pricesofGPPSwereassessedunchangedattheUSD1830/mtlevels.InChina,HIPSpriceswere
assessedflatattheUSD1850/mtCFRmark.CFRSouthEastAsiapricesofHIPSwereassessed
steady at the USD 1880/mt levels. EPS prices meanwhile were assessed stable at the USD
1820/mt FOB North East Asia mark for general purpose grades. In plant news, Total
Petrochemicalislikelytostartupitsnew200,000mt/yearPSplant,locatedatNingbo,China,
inJuly2014.
PSpricestumbledinAsiaduringweek2.AsteepdropinupstreamSMvaluesforcedsellersto
reduce their PS prices sharply. CFR China prices of GPPS were assessed down at the USD
1770/mt levels while CFR South East Asia prices of GPPS were assessed lower at the USD
1800/mtlevels,bothdownUSD30/mtontheweek.InChina,HIPSpriceswereassessedlower
attheUSD1830/mtCFRmark,aweekonweekdropofUSD20/mt.CFRSouthEastAsiaprices
of HIPS were assessed down at the USD 1860/mt levels, a fall of USD 20/mt. EPS prices
meanwhile were assessed lower at the USD 1795/mt FOB North East Asia mark for general
purposegrades.
Despite a week on week rise in feedstock SM rates, PS prices journeyed south in Asia during
week3.Pricesdeclinedasbuyingsentimentsturnedsluggishintheregion.CFRSouthEastAsia
prices of GPPS were assessed lower at the USD 1775/mt levels, a week on week fall of USD
25/mt.CFRChinapricesofGPPSwereassessedflatattheUSD1770/mtlevels.InChina,HIPS
priceswereassessedlowerattheUSD1820/mtCFRmark,aweekonweekdropofUSD10/mt.
CFRSouthEastAsiapricesofHIPSwereassesseddownattheUSD1850/mtlevels,afallofUSD
10/mt. EPS prices meanwhile were assessed steady at the USD 1795/mt FOB North East Asia
markforgeneralpurposegrades.
PSpricesdroppedinAsiaduringweek4.Thepricefallwaspromptedbyadeclineinupstream
SM costs and sluggish regional buying trends. CFR South East Asia prices of GPPS were
assessedlowerattheUSD1770/mtlevels,aweekonweekfallofUSD5/mt.CFRChinaprices
ofGPPSwereassessedlowerattheUSD1750/mtlevels,adropofUSD20/mtontheweek.In
China, HIPS prices were assessed lower at the USD 1800/mt CFR mark, a drop of USD 20/mt.
CFRSouthEastAsiapricesofHIPSwereassesseddownattheUSD1830/mtlevels,adeclineof
USD 20/mt. EPS prices meanwhile were assessed down at the USD 1790/mt FOB North East
Asiamarkforgeneralpurposegrades.
A.6 Polystyrene (PS) Summary

56

A6PolymersAverageweeklyPolystyreneprices
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
PolystyreneGPPS
FarEast 1758 1770 1780 1800 1777 1810 1791 1785
SEAsia 1772 1783 1810 1830 1799 1833 1798 1811
PolystyreneHIPS
FarEast 1808 1823 1837 1850 1830 1848 1836 1832
SEAsia 1838 1853 1867 1880 1860 1877 1841 1855
A.6 Polystyrene (PS) Price Chart & Graphical Trend

57

PriceMovementofPSduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
PolystyreneGPPS
FarEast 1800 1750 1830 1750
SEAsia 1830 1770 1850 1770
PolystyreneHIPS
FarEast 1850 1800 1870 1800
SEAsia 1880 1830 1890 1830
A.6 Polystyrene (PS) Price Movement

58

PlantUpdateofPSforFebruary2014
PS
JiangsuLeasty
Chemical
Jiangsu,China EPS
350,000
mt/year
20Feb14
Plantlikelytobe
restarted.Itwasshut
formaintenance
turnaround.
Vietnam
Polystyrene
Vietnam
Expandable
polystyrene 40,000
mt/year
EndApr
2014
Thecapacityofthe
plantisplannedto
beraisedto50,000
mt/year
(EPS)
HongKong
Petrochemical
YuenLong,
HongKong
PS
70,000
mt/year
Restart
process
commenced
Theoneproduction
lineattheplantwas
operationalat55
60%ofproduction
capacitywhilethe
secondlinewasin
theprocessofbeing
restarted.Theplant
wasshuton
February10,2014
formaintenance
turnaround.
DFEChemical
Manila,
PS
30,000
mt/year
EndFeb
2014
Maintenance
Turnaround ThePhilippines
Styrolution
Indianorchard
PS
330
million
lbs/year
End2014
Theplantisplanned
tobepermanently
shutowingtolarge
capacitybuildingin
theNorthAmerican
market
Massachusetts,
US
A.6 Polystyrene (PS) Plant Update

59

ABS prices were assessed flat in Asia during week 1. Buying action was at a standstill on
accountofthelunarholidaysinChinaandTaiwan.CFRChinapricesofABSwereassessedflat
attheUSD1940/mtlevelswhileCFRSouthEastAsiapricesofABSwereassessedunchangedat
theUSD1940/mtCFRlevels.Inplantnews,LGChemandCNOOCplanstostartupanewjoint
venture ABS plant in China, in Q1 of 2014. The plant is located at Huizhou, Guangdong
province,Chinaandhasaproductioncapacityof150,000mt/year.
A plunge in feedstock SM values pushed ABS prices lower in Asia during week 2. CFR China
pricesofABSwereassesseddownattheUSD1935/mtlevelswhileCFRSouthEastAsiaprices
ofABSwereassessedlowerattheUSD1935/mtCFRlevels,bothdownUSD5/mtontheweek.
In India, a South Korean producer is heard to have offered its ABS resin at the USD 1980
1990/mtlevels,onaCIFNhavaShevaportbasis,forshipmentinendFebruary2014.InChina,
amajorTaiwaneseproducerhasoffereditsABSresinattheUSD1990/mtCFRlevels.
Prices of ABS edged lower in parts of Asia during week 3. CFR China prices of ABS were
assesseddownattheUSD1930/mtlevels,aweekonweekdeclineofUSD5/mt.Thepricefall
was on the back of dull demand sentiments in the region. CFR South East Asia prices of ABS
were assessed steady at the USD 1935/mt CFR levels. In China, a major Taiwanese producer
hasoffereditsABSresinattheUSD1990/mtCFRlevels.Inplantnews,LGYongxingChemical
hasincreasedtheoperationalrateatits700,000mt/yearABSplant,locatedatNingbo,China,
to80%levels.ThecompanyhascurtailedproductionrunsduringtheLunarNewYearholidays
to65%levels.
Prices of ABS tumbled in Asia during week 4. Bearish upstream SM and butadiene values
pushed prices lower in Asia. Reports of weak buying trends in the region further supported
the price fall. CFR China prices of ABS were assessed down at the USD 1900/mt levels, a
tumbleofUSD30/mtontheweek.CFRSouthEastAsiapricesofABSwereassessedlowerat
the USD 1910/mt CFR levels, a week on week sharp fall of USD 25/mt. In China, a major
Taiwanese producer has offered its ABS resin at the USD 1930/mt CFR levels. In plant news,
Styrolution is is likely to shut its 275,000 mt/year ABS plant, located at Ulsan, South Korea,
during the week. The plant is expected to remain shut for around 20 days. In another plant
news, Asahi Kasei will permanently shut its 65,000 mt/year ABS plant, located in Mizushima,
Japan,inDecember2015.
A.7 ABS Summary

60

A7PolymersAverageweeklyABSpricesonCFRIndiabasis
Feb
14
Jan
14
Dec
13
Nov
13
ABS
South
Korea
1940 1940 1960 1960 1950 1949 1914 1934
Thailand 1950 1950 1970 1970 1960 1959 1924 1944
A.7 ABS Price Chart & Graphical Trend

61

PriceMovementofABSonCFRIndiabasisduring
Grade Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
ABS
South
Korea
1960 1940 1980 1910
Thailand 1970 1950 1990 1920
A.7 ABS Price Movement

62

SpotbenzenepricesinAsiafirmedonFebruary4.Thepricegainswerepromptedbyanopen
arbitragewindowtotheUS.Reportsofstrongbuyingsentimentsintheregioncoupledwitha
gainrecordedinupstreamtoluenevalues,togethersupportedthepricerise.FOBKoreaprices
ofbenzenewereassessedhigherattheUSD1325/mtlevels,adayondayriseofUSD15/mt.
BenzenepricesinAsiaedgedloweronFebruary5.Thepricefallwasaresultofweakerbuying
sentimentsintheregion.AsharpdropinbenzenevaluesintheUSfurthersupportedtheprice
fall.FOBKoreapricesofbenzenewereassesseddownattheUSD1320/mtlevels,afallofUSD
5/mtontheday.
Benzene prices finished higher in Asia on February 6. The price gain was attributed to firmer
upstream energy values coupled with strong buying sentiments witnessed in the region.
Firmer benzene values in the US supported the price rise. FOB Korea prices of benzene were
assessedupattheUSD1330/mtlevels,adayondayriseofUSD10/mt.
Benzene prices in Asia firmed during week 1. The price rise was attributed to strong buying
interest witnessed in the region. A week on week rise in downstream SM rates further
supportedthepricegain.FOBKoreapricesofbenzenewereassessedupattheUSD1335/mt
levels,aweekonweekgainofUSD20/mt.
Benzene prices finished higher in Asia on February 10. Prices climbed on the back of a sharp
rise in benzene values in Europe and the US. Reports of strong buying trends in the region
supportedthepricegain.FOBKoreapricesofbenzenewereassessedupattheUSD1345/mt
levels,ariseofUSD10/mtfromFebruary7assessedlevels.
Benzene prices in Asia edged lower on February 11. The price fall was a result of weaker
downstreamSMvaluescoupledwithdullbuyingsentimentsintheregion.FOBKoreapricesof
benzenewereassesseddownattheUSD1340/mtlevels,adayondayfallofUSD5/mt.
Benzene prices in Asia slipped on February 12. The price fall was attributed to a plunge in
downstreamSMvalues.Reportsofdulldemandtrendsintheregionandafallinbenzenerates
intheUSfurthersupportedthepricefall.FOBKoreapricesofbenzenewereassesseddownat
theUSD1310/mtlevels,afallofUSD30/mtontheday.
B. Aromatics
B1 Benzene Summary

63

Benzene prices in Asia down adjusted during week 2. A plunge in downstream SM values
coupled with weak buying trends in the region supported the price fall. On February 14, FOB
KoreapricesofbenzenewereassessedattheUSD1310/mtlevels,aweekonweekfallofUSD
25/mt. In the domestic markets of China, benzene prices were down at the Yuan 9325/mt
levels. In plant news, Qingdao Lidong has resumed production at its aromatics (250,000
mt/yearbenzene)plantonFebruary12,2014.TheplantwasshutinDecember2013.
Benzene prices in Asia slipped on February 17. Weak buying trends in key markets like China
supportedthepricefall.FOBKoreapricesofbenzenewereassesseddownattheUSD1295/mt
levels,afallofUSD15/mtfromFebruary14assessedlevels.InChina,Sinopechasreducedits
benzenepricesinEastChinabyYuan200/mttoYuan9100/mtexworkslevels.
Despite a rise in upstream energy values, benzene prices in Asia slipped on February 18.
Reports of dull demand trends in key markets like China supported the price fall. FOB Korea
pricesofbenzenewereassesseddownattheUSD1285/mtlevels,afallofUSD10/mtonthe
day.InthedomesticmarketsofChina,benzenepriceswerelowerattheYuan9150/mt,aday
on day sharp drop of Yuan 175/mt. In China, Sinopec has reduced its benzene prices in East
ChinabyYuan200/mttoYuan9100/mtexworkslevels.
BenzenepricesinAsiadeclinedduringweek3.BearishpricingtrendsinkeymarketslikeChina
and a fall in upstream toluene values supported the price drop. On February 21, although
pricesclimbedontheday,benzenewasassessedattheUSD1300/mtlevels,aweekonweek
fall of USD 10/mt. In the domestic markets of China, benzene prices were down at the Yuan
9125/mtlevels.InChinaSinopechaslowereditsbenzenepricesinEastChinabyYuan200/mt
toYuan9100/mtexworkslevels.
Benzene prices in Asia slipped on February 24. The price fall was attributed to poor demand
trends in key markets like China. A sharp drop in upstream toluene values and weaker
downstream SM rates further supported the price fall. FOB Korea prices of benzene were
assessed down at the USD 1285/mt levels, a fall of USD 15/mt from February 21 assessed
levels. In the domestic markets of China, benzene prices were lower at the Yuan 9100/mt
levels.
BenzenepricesinAsiaslippedonFebruary26.Pricesfellasbuyingtrendscontinuedtoremain
soft across the region. Supporting the price fall in benzene was a drop in downstream SM
rates. Reports of ample product availability in key markets like China further supported the
pricefall.FOBKoreapricesofbenzenewereassesseddownattheUSD1270/mtlevels,aday
on day fall of USD 15/mt. In China, Sinopec down revised its benzene prices in East China by
Yuan300/mttotheYuan8800/mtexworkslevels.

64

BenzenepricesinAsiajourneyedsouthduringweek4.Alackofbuyinginterestinkeymarkets
likeChinapressuredpriceslowerintheregion.OnFebruary28,althoughpricesclimbedonthe
day, benzene was assessed at the USD 1275/mt levels, a week on week sharp fall of USD
25/mt. In the domestic markets of China, benzene prices were down sharply at the Yuan
8650/mt levels, a tumble of Yuan 450/mt. Sinopec down revised its benzene prices in East
ChinabyYuan300/mttotheYuan8800/mtexworkslevels.WeakerbenzenevaluesintheUS
furthersupportedthepricefall.
B1(a)AromaticsAverageweeklyBenzenePrices
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Benzene
FOBKorea 1277 1292 1321 1324 1304 1343 1338 1265
CFRJapan 1282 1297 1326 1329 1309 1348 1343 1270
CFRIndia 1287 1302 1331 1334 1314 1352 1348 1275
B1 Benzene Price Chart & Graphical Trend

65

PriceMovementofBenzeneduring
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Benzene
FOBKorea 1345 1270 1370 1220

CFRJapan 1350 1275 1375 1225
CFRIndia 1355 1280 1380 1230
PlantUpdateofBenzeneforFebruary2014
Benzene
LGChem
Yeosu,
SouthKorea
Benzene
240,000
mt/yr
MidOct
2014
Maintenance
Turnaround
Toluene 96,000mt/yr (1Month)
Solvent
Xylene
36,000mt/yr
QingdaoLidong
Qingdao,
China
Benzene
250,000
mt/year.
February
end
Theplant
restartedaftera
seriesofdelays
sinceDecember
2013
Reliance
Industries
Limited(RIL)
Gujarat,
India
Benzene
600,000
mt/year
Mar14
Maintenance
Turnaround
SKGlobal
Chemical
Ulsan,South
Korea
Benzene
540,000
mt/year
Jul14
Planstostartupa
newbenzene
plant
B1 Benzene Price Movement
B1 Benzene Plant Update

66

ToluenepricesedgedlowerinAsiaonFebruary3.Thepricedropwasmainlyonaccountofa
fallinupstreamcrudevaluescoupledwithastrongsellingactivitywitnessedintheregion.The
price decline was supported by weaker downstream benzene rates. FOB Korea prices of
toluenewereassesseddownattheUSD1085/mtlevelswhileCFRChinapriceswerelowerat
theUSD1110/mtlevels.Inthedomesticmarkets,pricesoftoluenewereassessedattheYuan
8100/mtextanklevels.
ToluenepricesinAsiafinishedhigheronFebruary5.Pricesgainedinlinewithfirmerupstream
crude values coupled with improved buying trends in the region. FOB Korea prices were
assessed up at the USD 1095/mt levels, a gain of USD 5/mt. CFR China prices were higher at
theUSD1120/mtlevels,ariseofUSD10/mt.InthedomesticmarketsofChinatolueneprices
wereattheYuan8100/mtextanklevels.
Prices of toluene finished higher during week 1. Prices gained in line with improved demand
trends in the region, a rise in upstream crude values and firmer downstream benzene rates.
OnFebruary7,FOBKoreapricesoftoluenewereassessedupattheUSD1100/mtFOBKorea
levels, a gain of USD 10/mt on the week. CFR China prices were assessed higher at the USD
1125/mtlevels,aweekonweekriseofUSD10/mt.CFRSouthEastAsiapriceswereassessed
up at the USD 1150/mt levels, a rise of USD 10/mt on the week. In China, local prices of
toluenewerehigherattheYuan8200/mtextanklevels.
Toluene prices in Asia climbed on February 10. Prices gained in line with improved buying
trendsintheregionandariseindownstreambenzenevalues.FOBKoreapriceswereassessed
upattheUSD1110/mtlevels,againofUSD10/mtfromFebruary7assessedlevels.CFRChina
prices were higher at the USD 1135/mt levels. In the domestic markets of China, prices of
toluenewereupattheYuan8240/mtextanklevels.
Toluene prices in Asia declined on February 12. The price fall was on the back of a drop in
downstream benzene values. Reports of hectic selling activity witnessed in the region
supportedthepricefall.FOBKoreapricesoftoluenewereassessedattheUSD1095/mtlevels,
a day on day fall of USD 15/mt. CFR China prices were assessed lower at the USD 1120/mt
levels. In the domestic markets of China, prices of toluene were assessed down at the Yuan
8180/mtextanklevels.
ToluenepricesinAsiafinishedhigheronFebruary13.Pricesgainedinlinewithstrongbuying
activitywitnessedintheregion.FOBKoreapriceswereassessedupattheUSD1105/mtlevels,
adayondaygainofUSD10/mt.CFRChinapriceswerehigherattheUSD1130/mtlevels,arise
B2 Toluene Summary

67

of USD 10/mt. In the domestic markets of China tolueneprices wereat the Yuan 8120/mt ex
tanklevels.
Prices of toluene climbed during week 2. Prices gained on the back of a surge in spot buying
activity. On February 14, FOB Korea prices of toluene were assessed up at the USD 1115/mt
FOBKorealevels,againofUSD15/mtontheweek.CFRChinapriceswereassessedhigherat
the USD 1140/mt levels, a week on week riseof USD 15/mt. CFR South East Asia prices were
assessedupattheUSD1155/mtlevels,ariseofUSD5/mtontheweek.InChina,localprices
oftoluenewereattheYuan8125/mtextanklevels.
ToluenepricesedgedlowerinAsiaonFebruary17.Thepricedeclinewassupportedbyweaker
downstream benzene rates. FOB Korea prices of toluene were assessed down at the USD
1110/mtlevelswhileCFRChinapriceswerelowerattheUSD1135/mtlevels.Inthedomestic
markets,pricesoftoluenewereassesseddownattheYuan8050/mtextanklevels.
ToluenepricesinchedlowerinAsiaonFebruary18.Thepricedropwasmainlyonaccountof
hectic selling action witnessed in key markets like China. FOB Korea prices of toluene were
assesseddownattheUSD1105/mtmark,afallofUSD5/mtontheday.CFRChinapriceswere
assessed lower at the USD 1130/mt levels. In the domestic markets, prices of toluene were
assessed down at the Yuan 7950/mt ex tank levels. Supporting the price fall were weaker
upstreambenzenevalues.
Toluene prices in Asia inched higher on February 19. Prices gained in line with a rise in
upstream energy rates. FOB Korea prices were assessed up at the USD 1110/mt levels, a day
on day gain of USD 5/mt. CFR China prices were higher at the USD 1135/mt levels. In China,
localrateswereupattheYuan7980/mtextanklevels.
Toluene prices in Asia down adjusted on February 20. Prices fell on the back of weaker
upstream crude values coupled with soft buying activity witnessed in the region. FOB Korea
toluenepriceswereassessedlowerattheUSD1095/mtlevels,adayondayfallofUSD15/mt.
CFR China prices were assessed down at the USD 1115/mt levels. In the domestic markets of
China,pricesoftoluenewereassessedlowerattheYuan7860/mtextanklevels.
Pricesoftoluenedriftedlowerduringweek3.Pricesfellonthebackofsubduedbuyingtrends
coupled with the ample product avails in the region. On February 21, FOB Korea prices of
toluenewereassesseddownattheUSD1090/mtFOBKorealevels,afallofUSD20/mtonthe
week.CFRChinapriceswereassessedlowerattheUSD1115/mtlevels,aweekonweekdrop
of USD 25/mt. CFR South East Asia prices were assessed down at the USD 1135/mt levels, a
decline of USD 20/mt. CFR India prices were assessed lower at the USD 1150/mt levels. In
China,localpricesoftoluenewerelowerattheYuan7800/mtextanklevels.

68

Toluene prices in Asia tumbled on February 24. Prices dropped on the back of a fall in
downstream benzene values and weak buying sentiments in the region. FOB Korea prices of
toluenewereassessedattheUSD1070/mtlevels,afallofUSD25/mt fromFebruary21.CFR
ChinapriceswereassessedlowerattheUSD1090/mtlevels.InthedomesticmarketsofChina,
pricesoftoluenewereassesseddownattheYuan7775/mtextanklevels.
Toluene prices in Asia declined on February 26. The price fall was on the back of a drop in
downstream benzenevalues. Supporting the fall in toluene prices were weak regional buying
sentiments and bearish cues from the global toluene markets. FOB Korea prices of toluene
were assessed at the USD 1055/mt levels, a day on day fall of USD 15/mt. CFR China prices
were assessed lower at the USD 1070/mt levels. In the domestic markets of China, prices of
toluenewereassesseddownattheYuan7600/mtextanklevels.
Despiteafallinupstreamenergyvalues,ToluenepricesinAsiainchedhigheronFebruary27.
Reportsofimprovedbuyingtrendswitnessedintheregionsupportedthepricerise.FOBKorea
priceswereassessedupattheUSD1060/mtlevels,adayondaygainofUSD5/mt.CFRChina
priceswerehigherattheUSD1080/mtlevels.Sellersoftoluenepolledsoundedencouragedas
they reported that there was an improvement in the regional buying mood. However they
wereunsureaboutwhethertheimprovedtrendswouldsustain.
Soft demand trends pressured spot toluene prices in Asia lower during week 4. On February
28,althoughpricesclimbedontheday,toluenewasassessedattheUSD1070/mtFOBKorea
levels, a fall of USD 25/mt on the week. CFR China prices were assessed lower at the USD
1085/mt levels, a week on week sharp drop of USD 30/mt. CFR South East Asia prices were
assessed down at the USD 1110/mt levels, a decline of USD 25/mt. CFR India prices were
assessedlowerattheUSD1130/mtlevels,downUSD 20/mt.InChina,localpricesoftoluene
werelowerattheYuan7700/mtextanklevels.Whentoluenesellerspolledsaid,thegeneral
buyingmoodcontinuestoremaindepressedandbearishcuesfromthewestarekeepingspot
ratesunderpressure.

69

B2AromaticsAverageweeklyToluenePrices
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Toluene
FOB
Korea
1065 1102 1108 1093 1092 1134 1171 1148
CFR
Japan
1081 1124 1133 1117 1114 1154 1188 1166
CFRSEA 1130 1148 1152 1143 1143 1177 1203 1165
CFRIndia 1146 1163 1167 1161 1159 1198 1222 1202
CFR
China
1083 1124 1133 1117 1114 1154 1188 1166
B2 Toluene Price Chart & Graphical Trend

70

PriceMovementofTolueneduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Toluene
FOBKorea 1115 1055 1255 1055

CFRJapan 1140 1070 1215 1070
CFRSEA 1155 1110 1230 1110
CFRIndia 1170 1130 1250 1130
CFRChina 1140 1070 1215 1070
PlantUpdateofTolueneforFebruary2014
Toluene
Mitsui
Chemicals
Omuta,
Japan
Toluene
diisocyanate
(TDI)
120,000
mt/year
10Feb14
Plantrestarted
followinga
maintenance
turnaround.
B2 Toluene Price Movement

B2 Toluene Plant Update

71

DespiteafallinupstreamisomerMXrates,spotPXpricesinAsiaedgedhigheronFebruary3.
The price climb was on the back of improved buying interest in the region. CFR China prices
wereassessedhigherattheUSD1305/mtlevels.FOBKoreapricesofPXwereassessedatthe
USD1280/mtlevels.IsomerMXpricesdeclinedinAsia.Hecticsellingactivitywitnessedinthe
region pushed spot prices of Isomer MX lower. Weaker upstream energy rates further
supported the price fall. FOB Korea prices of Isomer MX were assessed down at the USD
1125/mt levels, a fall of USD 15/mt. CFR Taiwan prices were assessed lower at the USD
1145/mtlevels.
DespiteafallinupstreamisomerMXvalues,spotPXpricesinAsiaedgedhigheronFebruary4.
Prices climbed in anticipation of a lift in demand trends for the product post the Lunar New
YearholidaysinChina.FOBKoreapricesofPXwereassessedupattheUSD1285/mtlevels,a
dayondayriseofUSD5/mt.CFRChinapriceswereassessedhigherattheUSD1310/mtlevels.
FeedstockIsomerMXpriceswereassesseddownattheUSD1120/mtFOBKorealevels,adrop
of USD 5/mt on the day. CFR Taiwan prices of Isomer MX were assessed lower at the USD
1140/mtlevels,adayondaydeclineofUSD5/mt.
Asian PX prices inched lower on February 6. The price fall was attributed to dull buying
sentiments in the region. FOB Korea prices of PX were assessed down at the USD 1280/mt
levels, a day on day fall of USD 5/mt. CFR China prices were assessed lower at the USD
1305/mt levels. Feedstock isomer MX prices were steady at the USD 1120/mt FOB Korea
levels.
Despite a fall in downstream phthalic anhydride (PA) rates, OX prices in Asia were assessed
steady during week 1. In key markets like China buying sentiments were muted due to the
LunarNewYearholidays.FOBKoreapricesofOXwereassessedflatattheUSD1315/mtlevels.
CFR China prices were assessed unchanged at the USD 1335/mt levels. CFR South East Asia
prices were assessed steady at the USD 1305/mt levels. Despite dull demand trends in the
region,pricesofPXclimbedinAsia.FOBKoreapricesofPXwereassessedattheUSD1290/mt
levels,againofUSD10/mtontheweek.CFRChinaandCFRSouthEastAsiapricesofPXwere
assessed up at the USD 1315/mt levels, a week on week rise of USD 15/mt. Prices of Solvent
MXinAsiadeclined.FOBKoreapriceswereassesseddownattheUSD1085/mtlevels,afallof
USD10/mt.CFRTaiwanpriceswereassessedlowerattheUSD1100/mtlevels,adropofUSD
10/mt. CFR China prices of Solvent MX were assessed down at the USD 1120/mt levels, a
decline of USD 10/mt. CFR South East Asia prices were assessed lower at the USD 1130/mt
levels,downUSD10/mt.IsomerMXpricesalsoinchedlowerinAsia.OnFebruary7,although
prices climbed on the day, isomer MX was assessed at the USD 1135/mt FOB Korea levels, a
B3 Xylene Summary

72

week on week fall of USD 5/mt. CFR Taiwan prices of Isomer MX were assessed lower at the
USD1155/mtlevels.CFRSouthEastAsiapriceswereassessedattheUSD1160/mtlevels.
PXpricesinAsiafinishedhigheronFebruary10.Thepricerisewasmainlyonaccountofshort
covering activity witnessed in the region. Supporting the rise in PX prices were firmer
feedstock Isomer MX rates. FOB Korea prices of PX were assessed up at the USD 1300/mt
levels,ariseofUSD10/mtfromFebruary7assessedlevels.CFRTaiwanpriceswereassessed
higherattheUSD1325/mtlevels.Inplantnews,QingdaoLidongislikelytoresumeproduction
atitsaromaticsplant,locatedinShandongprovince,China,duringweek1.Theplanthasbeen
shut since November 2013 following an explosion at two pipelines. The plant has a PX
production capacity of 700,000 mt/year, benzene capacity of 250,000 mt/year and toluene
capacityof150,000mt/year.IsomerMXpricesinAsiaalsogained.FOBKoreapricesofIsomer
MXwereassessedupattheUSD1150/mtlevels,ariseofUSD15/mt.CFRTaiwanpriceswere
assessed higher at the USD 1170/mt levels. In plant news, GS Caltex is likely to delay the
restartofitsNo.1reformer,locatedatYeosu,Korea.TheplantwasshutonFebruary7,2014,
owingtoafire.TheNo.1reformerhasanisomerMXproductioncapacityof800,000mt/year
andPXcapacityof400,000mt/year.
PXpricesinAsiafinishedhigheronFebruary11.Reportsofimprovedbuyingactivitywitnessed
in the region supported the price rise. FOB Korea prices of PX were assessed up at the USD
1310/mtlevels,ariseofUSD10/mtontheday.CFRTaiwanpriceswereassessedhigheratthe
USD 1335/mt levels. Feedstock Isomer MX prices were assessed down at the USD 1145/mt
FOBKorealevels,afallofUSD5/mtontheday.
Paraxylene (PX) prices drifted lower in Asia on February 13. Prices fell on account of dull
regional buying activity. Reports of bearish downstream PTA and polyester demand trends
further supported the price fall. FOB Korea prices of PX were assessed down at the USD
1290/mt levels, a decline of USD 10/mt on the day. CFR Taiwan prices of PX were assessed
lowerattheUSD1315/mtlevels.
OXpricesinAsiadriftedlowerduringweek2.Thepricefallwasmainlyonaccountofweaker
buyinginterestcoupledwithreportsofampleproductavailabilityinkeymarketslikeChina.A
declineindownstreamPApricessupportedthedropinspotOXnumbers.FOBKoreapricesof
OX were assessed down at the USD 1300/mt levels, a week on week fall of USD 15/mt. CFR
ChinapriceswereassessedlowerattheUSD1320/mtlevels,downUSD15/mt.CFRSouthEast
AsiapriceswereassesseddownattheUSD1290/mtlevels,adropofUSD15/mtontheweek.
In the local markets of China, prices of OX were heard at the Yuan 9500/mt levels. PX prices
also drifted lower in Asia. FOB Korea prices of PX were assessed lower at the USD 1280/mt
levels, a week on week drop of USD 10/mt. CFR China and CFR South East Asia prices of PX
wereassessedupattheUSD1305/mtlevels,afallofUSD10/mtontheweek.Inplantnews,

73

PetroChina is likely to start up its new 680,000 mt/year PX plant, located at Pengzhou in
Sichuan province, towards the end of February or early March 2014. Despite sluggish buying
trends witnessed in the region, prices of Solvent MX in Asia edged higher. FOB Korea prices
were assessed up at the USD 1090/mt levels, a gain of USD 5/mt on the week. CFR Taiwan
priceswereassessedhigherattheUSD1105/mtlevels,ariseofUSD5/mt.CFRChinapricesof
SolventMX wereassessedupattheUSD1125/mtlevels,againofUSD5/mt.CFRSouthEast
Asia prices were assessed higher at the USD 1135/mt levels, up USD 5/mt. In plant news, GS
Caltex has resumed production at its No.1 reformer, located at Yeosu, South Korea, on
February 11, 2014. The reformer was shut on February 6, 2014 owing to a fire caused by
hydrogen leak. The reformer has an isomergrade mixed xylenes production capacity of
800,000 mt/year and paraxylene (PX) capacity of 400,000 mt/year. Isomer MX prices also
climbedinAsia.ActiveshortcoveringactionallowedsellersofisomerMXinAsiatosteertheir
offer prices higher. FOB Korea prices of isomer MX were assessed at the USD 1145/mt FOB
Korealevels,ariseofUSD10/mt.OnFebruary14,althoughpricesslippedontheday,Isomer
MX was assessed at the USD 1160/mt CFR Taiwan levels, a week on week gain of USD 5/mt.
CFRSouthEastAsiapriceswereassessedhigherattheUSD1170/mtlevels.
Spot PX prices in Asia climbed on February 17. The price climb was on the back of improved
buyinginterestintheregion.CFRChinapriceswereassessedhigherattheUSD1290/mtlevels
while FOB Korea prices of PX were assessed at the USD 1315/mt levels, both up USD 10/mt
from February 14 assessed levels. Feedstock Isomer MX prices were assessed at the USD
1145/mtFOBKorealevels.
Asian PX prices edged lower on February 18. Prices fell on account of a drop in upstream
Isomer MX and downstream PTA values. The price fall was further supported by dull buying
sentiments in the region. FOB Korea prices of PX were assessed down at the USD 1285/mt
levels, a day on day fall of USD 5/mt. CFR China prices were assessed lower at the USD
1310/mtlevels.IsomerMXpricesalsodroppedinAsia.FOBKoreapriceswereassesseddown
at the USD 1130/mt levels, a drop of USD 15/mt. CFR Taiwan prices of Isomer MX were
assessedlowerattheUSD1145/mtlevels.
Despiteariseinupstreamenergyvalues,isomerMXpricesdownadjustedinAsiaFebruary19.
Hectic selling activity witnessed in the region coupled with bearish downstream PX demand
trends,togethersupportedthepricefall.FOBKoreapricesofIsomerMXwereassesseddown
at the USD 1120/mt levels, a fall of USD 10/mt on the day. CFR Taiwan prices of isomer MX
wereassessedlowerattheUSD1135/mtlevels.
AsianPXpricesdroppedonFebruary20.Thepricefallwassupportedbyhecticsellingactivity
witnessed in the region. Weaker upstream isomer MX and downstream PTA rates further
supported the price drop. FOB Korea prices of PX were assessed down at the USD 1270/mt

74

levels, a fall of USD 15/mt on the day. CFR China prices were assessed lower at the USD
1295/mtlevels.IsomerMXpricesalsodroppedinAsia.FOBKoreapriceswereassesseddown
at the USD 1110/mt levels, a drop of USD 10/mt. CFR Taiwan prices of Isomer MX were
assessedlowerattheUSD1125/mtlevels.
OXpricesinAsiaslippedduringweek3.ThepricefallwaspromptedbyatumbleinisomerMX
rates and a buyer sentiment weakness seen surfacing across the region. FOB Korea prices of
OXwereassesseddownattheUSD1275/mtlevels,aweekonweeksharpfallofUSD25/mt.
CFRChinapriceswereassessedlowerattheUSD1295/mtlevels,downUSD25/mt.CFRSouth
East Asia prices were assessed down at the USD 1265/mt levels, a drop of USD 25/mt on the
week.SupportingthepricedeclineinOXwasaweekonweekdropindownstreamPAvalues.
A drop in upstream isomer MX values and downstream PTA prices together dragged lower
spot prices of PX in Asia. FOB Korea prices of PX were assessed lower at the USD 1245/mt
levels,atumbleofUSD35/mt.CFRChinaandCFRSouthEastAsiapricesofPXwereassessed
down at the USD 1270/mt levels, a sharp fall of USD 35/mt. In the contract markets,
ExxonMobilhasnominateditsPXcontractpriceforMarchattheUSD1380/mtCFRAsialevels.
JX Nippon Oil & Energy has also nominated its March PX contract price at the USD 1350/mt
CFR Asia levels. Prices of Solvent MX also tumbled in Asia. FOB Korea prices were assessed
down at the USD 1055/mt levels, a tumble of USD 35/mt. CFR Taiwan prices were assessed
lower at the USD 1070/mt levels, a sharp fall of USD 35/mt. CFR China prices of Solvent MX
were assessed down at the USD 1090/mt levels, a drop of USD 35/mt. CFR South East Asia
prices were assessed lower at the USD 1115/mt levels, down USD 20/mt. Isomer MX prices
were hammered lower in Asia. Sluggish buying sentiments coupled with ample product
availabilityintheregionsupportedthepricefall.OnFebruary21,FOBKoreapricesofisomer
MX were assessed down at the USD 1090/mt FOB Korea levels, a plunge of USD 55/mt. CFR
TaiwanpricewereassessedlowerattheUSD1105/mtlevels,asteepdropofUSD55/mt.CFR
SouthEastAsiapriceswereassesseddownattheUSD1115/mtlevels,atumbleofUSD55/mt.
Paraxylene (PX) prices on February 24 finished sharply lower in Asia. A tumble in upstream
IsomerMXanddownstreamPTAratespressuredspotPXpriceslower.Supportingthedropin
PXratesacrossAsiawerereportsofampleproductavailsintheregion.FOBKoreapricesofPX
wereassesseddownattheUSD1215/mtlevels,atumbleofUSD30/mtfromFebruary21.CFR
ChinapriceswereassessedlowerattheUSD1240/mtlevels.IsomerMXpricesalsodroppedin
Asia. Reports of hectic selling activity witnessed in the region supported the price drop. FOB
KoreapriceswereassesseddownattheUSD1065/mtlevels,adropofUSD25/mt.CFRTaiwan
pricesofIsomerMXwereassessedlowerattheUSD1080/mtlevels.
Spot prices of Isomer MX in Asia inched lower on February25. Supporting the price fall were
dullbuyingtrendscoupledwithweakerdownstreamPXrates.FOBKoreapricesofIsomerMX
wereassesseddownattheUSD1060/mtlevels,adayondaydeclineofUSD5/mt.CFRTaiwan

75

prices were assessed lower at the USD 1075/mt levels. Downstream PX prices were assessed
attheUSD1215/mtFOBKorealevels,aweekonweeksteepdropofUSD70/mt.
Weaker downstream PTA values pushed paraxylene (PX) prices lower in Asia on February 26.
Reports of weak buying trends and heavy selling activity in the region further supported the
pricefall.FOBKoreapricesofPXwereassesseddownattheUSD1205/mtlevels,adayonday
fall of USD 10/mt. CFR China prices were assessed lower at the USD 1230/mt levels. In the
contractmarkets,IdemitsuandExxonMobilhaveannouncedtheirnominationforMarchAsian
contractpriceforPXattheUSD1380/mtCFRmark.
OXpricesinAsiawerehammeredlowerduringweek4.Marketparticipantsblamedtheprice
fallsquarelyonsubdueddemandtrendsthatplaguedtheregion.Supportingthepricedecline
was a drop in downstream prices of PA in Asia coupled with a slide in upstream Isomer MX
values. FOB Korea prices of OX were assessed down at the USD 1230/mt levels, a plunge of
USD 45/mt. CFR China prices were assessed lower at the USD 1250/mt levels, a slide of USD
45/mt. CFR South East Asia prices were assessed down at the USD 1245/mt levels, a drop of
USD20/mt.Paraxylene(PX)pricesalsodriftedlowerinAsia.Pricesfellonaccountofadropin
prices of upstream Isomer MX. Also bearish for PX prices was a tumble in downstream PTA
values. FOB Korea prices of PX were assessed lower at the USD 1210/mt levels, a tumble of
USD 35/mt. CFR China and CFR South East Asia prices of PX were assessed down at the USD
1235/mt levels, a sharp fall of USD 35/mt. In China, Sinopec has nominated its PX contract
priceforMarchattheYuan9100/mtlevels.ThispricerepresentsasteepfallofYuan415/mt
from February levels. Prices of Solvent MX in Asia slipped. FOB Korea prices were assessed
down at the USD 1025/mt levels, a tumble of USD 30/mt. CFR Taiwan prices were assessed
lowerattheUSD1040/mtlevels,aweekonweeksharpfallofUSD30/mt.CFRChinapricesof
SolventMXwereassesseddownattheUSD1055/mtlevels,atumbleofUSD35/mt.CFRSouth
EastAsiapriceswereassessedlowerattheUSD1085/mtlevels,downUSD30/mt.IsomerMX
pricesalsowitnessedadropinAsia.Aweakbuyingactivitywitnessedintheregionsupported
the price decline. On February 28, although prices climbed on the day, isomer MX was
assessed at the USD 1070/mt FOB Korea levels, a drop of USD 20/mt. CFR Taiwan price were
assessedlowerattheUSD1085/mtlevels,aweekonweekfallofUSD20/mt.CFRSouthEast
AsiapriceswereassesseddownattheUSD1095/mtlevels,adropofUSD20/mt.

76

B3AromaticsAverageweeklyXylenePrices
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
OrthoXylene
FOBKorea 1266 1292 1310 1315 1296 1396 1430 1386
CFRSEA 1261 1282 1300 1305 1287 1362 1388 1381
ParaXylene
FOBKorea 1210 1270 1293 1284 1264 1337 1411 1393
CFRSEA 1235 1295 1318 1309 1289 1362 1430 1411
SolventMixed
FOBKorea 1049 1078 1087 1092 1077 1124 1167 1172
CFRSEA 1109 1128 1132 1137 1127 1167 1204 1208
IsomerMixed
FOBKorea 1064 1114 1146 1128 1113 1163 1212 1214
CFRSEA 1082 1135 1169 1149 1134 1184 1234 1237

B3 Xylene Price Chart & Graphical Trend

77

PriceMovementofXyleneduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
OrthoXylene
FOBKorea 1315 1230 1435 1230

CFRSEA 1305 1245 1390 1245
ParaXylene
FOBKorea 1310 1205 1425 1205

CFRSEA 1335 1230 1440 1230
SolventMixed
FOBKorea 1095 1025 1180 1025

CFRSEA 1140 1085 1215 1085
IsomerMixed
FOBKorea 1150 1060 1240 1060

CFRSEA 1170 1075 1260 1075
B3 Xylene Price Movement

78

PlantUpdateofXyleneforFebruary2014
Xylene
GSCaltex
Yeosu,
SouthKorea
PX
400,000
mt/year
6Feb14
Theplantwas
shutowingtoa
firewhichwas
causedby
hydrogenleak
CosmoOil Chiba,Japan
Isomer
grade
mixed
xylene
90,000
mt/year
Q22014
Maintenance
Turnaround (3045days)
GSCaltex
Yeosu,
SouthKorea
Isomer
grade
mixed
xylenes
800,000
mt/year
11Feb14 Thereformer
wasshuton
February6,
2014owingtoa
firecausedby
hydrogenleak
Restarted
Reliance
IndustriesLtd
(RIL)
Jamnagar,
Gujarat,
India
PX
600,000
mt/year
MidMar
2014
Maintenance
Turnaround
JXNipponOil&
Energy
Oita,Japan PX
420,000
mt/yr
MidMay
2014
Maintenance
Turnaround
(2Month)
PetroChina
Sichuan,
China
PX
680,000
mt/year
EndFebor
EarlyMar
2014
Planstostart
upanewPX
plant.
B3 Xylene Plant Update

79

SpotpricesofmethanolinAsiawereassessedmixedduringweek1.OnFebruary7,CFRChina
pricesofmethanolwereassesseddownattheUSD505/mtlevels,aweekonweekfallofUSD
5/mt. Regional buying trends werevery dull on account of the Lunar New Year holidays. FOB
KoreapricesofmethanolwereassesseddownattheUSD525/mtlevels,adropofUSD15/mt
on the week. Poor buying sentiments in the region supported the price fall. CFR India prices
were assessed flat from last week at the USD 540/mt levels. CFR South East Asia prices were
up at the USD 590/mt levels, a rise of USD 5/mt. Prices climbed on the back of improved
buyingtrendsintheregion.InthedomesticmarketsofChina,methanolpriceswereassessed
lowerattheYuan3070/mtlevels.
SpotpricesofmethanolinAsiadownadjustedduringweek2.Reportsofampleproductavails
and sluggish demand trends in the region, together supported the price fall. On February 14,
FOBKoreapricesofmethanolwereassesseddownattheUSD520/mtlevels,aweekonweek
drop of USD 5/mt. CFR South East Asia prices were lower at the USD 580/mt levels, a fall of
USD 10/mt on the week. CFR India prices were assessed down at the USD 520/mt levels, a
sharpdropofUSD20/mt.CFRChinapricesofmethanolwereassessedattheUSD500505/mt
levels.OfferswereheardattheUSD510520/mtCFRChinalevels.Inthedomesticmarketsof
China,methanolpriceswereassessedattheYuan3110/mtlevels.
Ample availability and dull buying interest in key markets like China pushed spot prices of
methanol in Asia lower during week 3. Buyers were in no hurry to purchase, well aware that
the plentiful supply would keep the downward pressure on prices ticking as would the damp
demand trends. On February 21, FOB Korea prices of methanol were assessed down at the
USD 505/mt levels, a tumble of USD 15/mt on the week. CFR China prices of methanol were
assessedlowerattheUSD490/mtlevels,asharpfallofUSD15/mt.Offerswereheardatthe
USD 510520/mt CFR China levels. CFR India prices were assessed down at the USD 500/mt
levels, a sharp drop of USD 20/mt. CFR South East Asia prices were at the USD 575580/mt
levels. In the domestic markets of China, methanol prices were assessed down at the Yuan
3040/mtlevels.
Methanol prices in Asia journeyed south during week 4. Prices fell as buying trends turned
sluggish.InAsiaskeymarketofChina,sellerspolledconfirmedthatdemandwasdryandthat
theywerestrugglingtotransact.OnFebruary28,FOBKoreapricesofmethanolwereassessed
down at the USD 490/mt levels, a week on week drop of USD 15/mt. CFR China prices of
methanolwereassessedlowerattheUSD470/mtlevels,asharpfallofUSD20/mt.CFRIndia
prices were assessed down at the USD 480/mt levels, a sharp drop of USD 20/mt. CFR South
East Asia prices were lower at the USD 560/mt levels, a fall of USD 20/mt. In the domestic
B4 Methanol Summary

80

marketsofChina,methanolpriceswereassesseddownattheYuan2730/mtlevels.
B4AromaticsAverageweeklyMethanolPrices
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Methanol
CFRIndia 496 513 533 540 521 555 525 447
CFR
China
477 498 505 508 497 519 535 479
CFR
Korea
502 518 525 536 520 555 553 496
CFRSEA 569 580 585 587 580 585 602 554
B4 Methanol Price Chart & Graphical Trend

81

PriceMovementofMethanolduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Methanol
CFRIndia 540 480 565 440

CFRChina 510 470 550 460
CFRKorea 540 490 575 475
CFRSEA 590 560 615 510
PlantUpdateofMethanolforFebruary2014
Methanol
Assam
Petrochemicals
Namrup,
Assam,India
Aceticacid
800,000
mt/year
Mid2017
Planstostartup
anewaceticacid
andmethanol
plant
Methanol
500,000
mt/year
Brunei
MethanolCo
Sungai
Liang,
Brunei
Methanol
850,000
mt/year
17Feb14
Plantwasshut
owingto
technicalissues.
DatongGuangfa
Chemical
Industry
Shanxi,
China
Methanol
600,000
mt/year
25Feb14
Planstostartup
anewmethanol
plant
YanzhouCoal
ErdosNengHua
Erdos,Inner
Mongolia
Methanol
toolefins
900,000
mt/year
May14
Planstostartup
anewmethanol
toolefinsplant
B4 Methanol Price Movement

B4 Methanol Plant Update

82

Prices of butadiene in Asia climbedduring week 1. Improved buying sentiments in the region
supportedthepricerise.FOBKoreapricesofbutadienewereassessedupattheUSD1465/mt
levels,ariseofUSD10/mtontheweek.CFRSouthEastAsiapricesofbutadienewereassessed
higher at the USD 1445/mt levels, a week on week gain of USD 5/mt. CFR China prices of
butadiene were assessed up at the USD 1490/mt levels, a gain of USD 10/mt. Offers were
heard at the USD 1500/mt CFR China levels. In the domestic markets of China, butadiene
priceswereassessedattheYuan10750/mtlevels.
Butadiene prices in Asia slipped during week 2. Price falls came on the back of subdued
regional buying trends, triggered by weak cues from the downstream ABS and butadiene
rubbermarkets.ReportsofhighinventorylevelsinkeymarketslikeChinaandTaiwanfurther
supported the price fall. FOB Korea prices of butadiene were assessed down at the USD
1445/mtlevels,afallofUSD20/mtontheweek.CFRSouthEastAsiapricesofbutadienewere
assessed lower at the USD 1425/mt levels, a week on week drop of USD 20/mt. CFR China
prices of butadiene were assessed down at the USD 1470/mt levels, a decline of USD 20/mt.
Offers were heard at the USD 15001510/mt CFR China levels. In the domestic markets of
China,butadienepriceswereassessedattheYuan10750/mtlevels.
Butadiene prices in Asia dropped during week 3. The price fall was triggered by soft regional
buying interest coupled with ample product availability in key markets like China. Reports of
continued sluggish buying sentiments in the downstream ABS and synthetic rubber markets
furthersupportedthepricefall.FOBKoreapricesofbutadienewereassesseddownattheUSD
1435/mtlevels,afallofUSD10/mtontheweek.CFRSouthEastAsiapricesofbutadienewere
assessed lower at the USD 1410/mt levels, a week on week drop of USD 15/mt. CFR China
pricesofbutadienewereassesseddownattheUSD1455/mtlevels,adeclineofUSD15/mt.In
thedomesticmarketsofChina,butadienepriceswereassessedattheYuan10750/mtlevels.
During week 4, butadiene prices in Asia were assessed mixed. CFR China prices of butadiene
were assessed down at the USD 1450/mt levels, a week on week decline of USD 5/mt. CFR
SouthEastAsiapricesofbutadienewereassessedlowerattheUSD1405/mtlevels,adropof
USD 5/mt. The price fall was triggered by weaker downstream product demand trends in the
region.FOB KoreapricesofbutadienewereassessedupattheUSD1450/mtlevels,again of
USD 15/mt. In the domestic markets of China, butadiene prices were assessed lower at the
C. Olefins
C1 Butadiene Summary

83

Yuan 10600/mt levels. Sinopec is heard to havereduced itsbutadiene prices by Yuan 600/mt
toYuan9500/mtexworkslevels.
C1OlefinsAverageweeklyButadienePricesfor
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Butadiene
SouthKorea 1437 1440 1453 1458 1447 1463 1478 1487
Japan 1417 1420 1433 1438 1427 1429 1439 1452
China 1453 1460 1477 1483 1468 1488 1502 1518
SEAsia 1409 1420 1438 1441 1427 1461 1497 1509
C1 Butadiene Price Chart & Graphical Trend

84

PriceMovementofButadieneduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Butadiene
Japan 1445 1410 1620 1340

South
Korea
1465 1430 1650 1380
China 1490 1450 1720 1390

SEAsia 1445 1405 1700 1390
C1 Butadiene Price Movement

85

PlantUpdateofButadieneforFebruary2014
Butadiene
Hangzhou
ZhechenRubber
Zhejiang,
China
Styrene
butadiene
rubber
100,000
mt/year
12Feb14 Restarted
LotteChemical
Titan
Pasir
Gudang,
Malaysia
Butadiene
100,000
mt/year.
EarlyLast
Week
Maintenance
Turnaround
(3Weeks)
FujianRefining
&
Petrochemicals
(FREP)
Fujian,
China
Butadiene
extraction
unit(BEU)
60,000
mt/year
LateMay
earlyJun
2014
Planstostartupa
newbutadiene
extractionunit
JSRCorp
Yokkaichi,
Japan
Nitrile
butadiene
rubber
(NBR)
35,000
mt/year
EndFeb
2014
(1Month)
Maintenance
turnaround
ThaiSynthetic
Rubbers
Rayong,
Thailand
Butadiene
rubber(BR)
72,000
mt/year
MidFeb
2014
Maintenance
Turnaround
(3Weeks)
ShenHua
Industrial
Chemical
Nantong,
China
Butadiene
rubber(BR)
72,000
mt/year
EndMar
2014
Maintenance
Turnaround
(25Days)
ShanghaiSECCO
Petrochemical
Shanghai,
China
Butadiene
90,000
mt/year
Jun14
Planstostartupa
newbutadieneplant
Sichuan
Petrochemical
Sichuan,
China
Butadiene
150,000
mt/year
MidMar
2014
Planstostartupa
newbutadieneplant
C1 Butadiene Plant Update

86

EthylenepricesonFebruary3wereassessedstableacrossAsia.HolidaysinChinaandTaiwan
sawregionalactivitycrippledwithsellersreportingonlyatrickleofinquiries.Buyingactionin
thedownstreamPEmarketswasalsoatastandstillonaccountofthelunarholidaysinChina.
CFRNorthEastAsiapricesofethylenewereassessedflatattheUSD1470/mtlevelswhileCFR
SouthEastAsiapriceswereassessedattheUSD1410/mtlevels.
Ethylene prices edged lower in parts of Asia on February 4. CFR South East Asia prices were
assesseddownattheUSD1405/mtmark,afallofUSD5/mtontheday.Thepricefallwason
accountofdullbuyingtrends,competitivelypriceddeepseacargoesandsoftupstreampricing
cues.CFRNorthEastAsiapricesofethylenewereassessedsteadyattheUSD1470/mtmark.
Ethylene prices inched lower in parts of Asia during week 1. CFR South East Asia prices were
assessed lower at theUSD 1405/mt levels, afall of USD5/mt on the week. Theprice fall was
attributed to softer buying trends in the region. Supporting the price decline were
competitively priced deep sea cargoes. CFR North East Asia prices of ethylene were however
assessed steady at the USD 1470/mt levels while FOB Korea prices of ethylene were also
assessedunchangedattheUSD1400/mtlevels.
Ethylene prices in Asia drifted lower on February 11. Weaker downstream PE demand
sentiments supported the price fall. CFR North East Asia prices of ethylene were assessed
downattheUSD1460/mtmark,adayondaydeclineofUSD10/mt.Offersforethylenewere
heardattheUSD1500/mtCFRChinalevels.CFRSouthEastAsiapriceswereassessedlowerat
theUSD1390/mtlevels,asharpdropofUSD15/mt.
Ethylene prices declined in Asia during week 2. Prices of ethylene were seen slipping in the
region as buying trends continued to remain subdued. Poor downstream PE demand
sentiments further contributed toward the bearish pricing undertone. CFR South East Asia
prices were assessed lower at the USD 1390/mt levels, a fall of USD 15/mt on the week. CFR
NorthEastAsiapricesofethylenewereassesseddownattheUSD1460/mtlevels,aweekon
week dropof USD 10/mt. FOB Korea prices of ethylene were also assessed unchanged at the
USD1400/mtlevels.
Ethylene prices firmed in Asia on February 18. Prices firmed on the back of firmer derivative
values.CFRNorthEastAsiapricesofethylenewereassessedhigherattheUSD1475/mtlevels,
a day on day rise of USD 15/mt. Offers were heard at the USD 1500/mt CFR North East Asia
levels. CFRSouth East Asia priceswere assessed up at the USD 1400/mt levels,a gain of USD
10/mtontheday.
C2 Ethylene Summary

87

Despite weaker downstream PE rates, ethylene prices marched higher in parts of Asia on
February 19. The price rise was attributed to higher upstream energy rates and improved
buying sentiments witnessed in key markets like China. CFR North East Asia prices were
assessed higher at the USD 1495/mt levels, a day on day gain of USD 20/mt. CFR South East
AsiapricesofethylenewereassessedattheUSD1400/mtlevels.
EthylenepricesdriftedlowerinpartsofAsiaonFebruary20.CFRNorthEastAsiapriceswere
assessed lower at the USD 1485/mt levels, a fall of USD 10/mt on the day. The price fall was
triggered by weaker upstream energy values coupled with sluggish downstream demand
trendsintheregion.CFRSouthEastAsiapricesofethylenewereassessedattheUSD1400/mt
mark.Inplantnews,PTTGlobalChemical(PTTGC)hasshutitsNo.1I4cracker,onFebruary18,
2014owingtotechnicalissues.LocatedinMapTaphut,Thailand,thecrackerhasaproduction
capacity of 515,000 mt/year. In another plant news, CPC Corp has shut its No.6 cracker,
locatedatLinYuan,Taiwan,onFebruary10,2014formaintenanceturnaround.Thecrackeris
expected to remain shut for around two months and has an ethylene capacity of 700,000
mt/yearandpropylenecapacityof400,000mt/year.
DespitesluggishdownstreamPEdemandtrends,ethylenepricesclimbedinAsiaduringweek
3. Prices climbed in anticipation of tight product avails going forward. CFR South East Asia
prices were assessed up at the USD 1400/mt levels, a gain of USD 10/mt on the week. CFR
NorthEastAsiapricesofethylenewereassessedhigherattheUSD1485/mtlevels,aweekon
week rise of USD 25/mt. FOB Korea prices of ethylene were also assessed up at the USD
1410/mtlevels,againofUSD10/mt.
Ethylene prices firmedon February 25 in Asia. Tight product availability in the region steered
spotethylenepricesinAsiahigher.Firmerupstreamnaphtharatesfurthersupportedtheprice
climb. CFR South East Asia prices were assessed higher at the USD 1420/mt levels, a gain of
USD 20/mt on the day. CFR North East Asia prices of ethylene were assessed up at the USD
1495/mtlevels,adayondayriseofUSD10/mt.
Despite a fall in upstream energy values, ethylene prices in parts of Asia inched higher on
February 27. CFR South East Asia prices of ethylene were assessed up at the USD 1430/mt
levels, a day on day rise of USD 5/mt. The price rise was supported by constrained product
avails in the region. CFR North East Asia prices of ethylene were assessed flat at the USD
1500/mtlevels.
Continued tight product avails in the region pushed prices of ethylene higher in Asia during
week 4. CFR South East Asia prices were assessed up at the USD 1430/mt levels, a week on
weeksharpgainofUSD30/mt.CFRNorthEastAsiapricesofethylenewereassessedhigherat
theUSD1500/mtlevels,ariseofUSD15/mt.OfferswereheardattheUSD1520/mtCFRChina

88

levels. Buyer bids were heard at the USD 1485/mt levels. FOB Korea prices of ethylene were
alsoassessedupattheUSD1425/mtlevels,againofUSD15/mt.
C2OlefinsAverageWeeklyEthylenePricesforFebruary2014(USD/Tonne)
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Ethylene
South
Korea
1413 1403 1400 1400 1404 1426 1358 1307
Japan 1393 1383 1380 1380 1384 1409 1348 1297
SEAsia 1421 1398 1393 1406 1405 1461 1434 1419
C2 Ethylene Price Chart & Graphical Trends

89

PriceMovementofEthyleneduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Ethylene
Japan 1405 1380 1460 1290

South
Korea
1425 1400 1480 1300
SEAsia 1430 1390 1500 1390
C2 Ethylene Price Movement

90

PlantUpdateofEthyleneforFebruary2014
Ethylene
Mitsui
Chemicals
Osaka,
Japan
Ethylene
450,000
mt/year
19Jun14 Maintenance
Turnaround (1Month)
GAILIndia
Limited
Pata,Uttar
Pradesh,
India
Ethylene
500,000
mt/yr
11Mar14
Theshutdownofthe
complexhasbeen
delayedtoMarch11,
2014.Themaintenance
turnaroundofthe
complexwasdelayed
forthefirsttimeto
February14,2014.The
complexwasinitially
slatedtoshuton
January25,2014.
HD/LLD
Swing
210,000
mt/yr
(15Days)
2Plant
HDPE
100,000
mt/yr
AsahiKasei
Mizushima,
Japan
Ethylene
470,000
mt/year
20Feb14
Maintenance
turnaround
Propylene
300,000
mt/year
(1Month)
Reliance
Industries
Limited(RIL)
Jamnagar,
Gujarat
Ethylene
1.5million
mt/year
H22015
Planstostartupanew
ethyleneplant
Williams
Partners
Geismar,
Louisiana
Ethylene
590,000
mt/year
Jun14
Restartplanhasbeen
postponedtoJune2014
insteadofApril2014.
Propylene
41,000
mt/year
Theplantwasshuton
June13,2013owingto
anexplosionand
subsequentfire
CPCCorp
LinYuan,
Taiwan
Ethylene
700,000
mt/year
10Feb14
Maintenance
turnaround
(PlantNo.2) Propylene
400,000
mt/year
(2Month)
C2 Ethylene Plant Update

91

PropylenepricesinAsiafirmedonFebruary5.Thepricerisewaspromptedbyfirmerupstream
energy rates. FOB Korea prices of propylene were assessed up at the USD 1400/mt levels, a
day on day gain of USD 15/mt. CFR China prices were assessed higher at the USD 1460/mt
levels,ariseofUSD15/mtontheday.
PropylenepricesfirmedinAsiaduringweek1.Pricesfirmedinanticipationofaliftindemand
trendsinkeymarketslikeChinaposttheLunarNewYearholidays.OnFebruary7,FOBKorea
pricesofpropylenewereassessedupattheUSD1405/mtlevelswhileCFRChinapriceswere
assessed higher at the USD 1445/mt levels, both up USD 20/mt on the week. CFR South East
AsiapricesofpropylenewereassessedupattheUSD1335/mtlevels,aweekonweekgainof
USD 5/mt. In plant news, Tianjin Bohai is likely to resume production at its propane
dehydrogenation (PDH) plant, located at Tianjin, China, during week 2. The plant has a
propylene production capacity of 600,000 mt/year and was under a shutdown mode since
January12,2014.
On February 10, propylene prices in Asia firmed. Firmer upstream energy rates coupled with
gainsindownstreamPPvalues,supportedthepriceclimb.FOBKoreapricesofpropylenewere
assessedupattheUSD1415/mtlevels,ariseofUSD10/mtfromFebruary7.CFRChinaprices
wereassessedhigherattheUSD1470/mtlevels,againofUSD5/mt.
PropylenepricesfirmedinAsiaduringweek2.Reportsofimprovedbuyingpulseintheregion
supportedthepricerise.FOBKoreapricesofpropylenewereassessedupattheUSD1425/mt
levels,aweekonweekgainofUSD20/mt.OfferswereheardattheUSD1450/mtFOBKorea
levels.CFRChinapriceswereassessedhigherattheUSD1475/mtlevels,upUSD10/mtonthe
week.CFRSouthEastAsiapricesofpropylenewereassessedupattheUSD1340/mtlevels,a
weekonweekincreaseofUSD5/mt.
PropylenepricesinpartsofAsiafinishedloweronFebruary17.Pricesdeclinedonthebackof
softer buying interest coupled with weak downstream PP demand trends. FOB Korea prices
wereassessedlowerattheUSD1415/mtlevels,afallofUSD10/mtfromFebruary14assessed
levels.CFRChinapricesofpropylenewereassessedattheUSD1475/mtlevels.
PropylenepricesinAsiadeclinedonFebruary20.Pricesfellonthebackofadropinupstream
energyvalues.Weakbuyersentimentscoupledwithpoordownstreamdemandtrendsfurther
pressured spot propylene prices lower. FOB Korea prices were assessed at the USD 1405/mt
levels while CFR China prices of propylene were assessed at the USD 1470/mt levels, both
downUSD10/mtontheday.
C3 Propylene Summary

92

Propylene prices declined in Asia during week 3. Prices slipped despite a week on week
strength in global energy rates. Prices dropped on the back of falling demand trends and
sliding prices of downstream PP. FOB Korea prices of propylene were assessed down at the
assessed up at the USD 1325/mt levels, a week on week drop of USD 15/mt. In plant news,
Formosa to shut its Residue fluid catalytic cracker unit, located in Mailiao, Taiwan, for
maintenance turnaround towards endMarch 2014. The unit has a propylene capacity of
350,000mt/yearandislikelytoremainshutuntilearlyJuly2014.
Propylene prices in Asia fell on February 27. The fall came on the back of the drop in global
energyvaluesandweakregionalbuyingtrends.Alsocontributingtowardthedeclinewasthe
bearish sentiment which was seen gripping downstream PP markets. FOB Korea prices of
propylenewereassesseddownattheUSD1395/mtlevels,adayondayfallofUSD10/mt.CFR
ChinapriceswerelowerattheUSD1445/mt,afallofUSD10/mtontheday.
Propylene prices in Asia dropped during week 4. The price fall was on the back of sluggish
buying sentiments in the region. FOB Korea prices of propylene were assessed down at the
assessedflatattheUSD1325/mtlevels.Inplantnews,JXNipponOil&Energyhasshutafluid
catalyticcracker(FCC)formaintenanceturnaround.TheunitwasshutonFebruary20,2014.It
is likely to remain offstream for around one month. Located in Marifu, Japan the FCC has a
propylenecapacityofaround50,000mt/year.Inanotherplantnews,Formosaislikelytoshut
itsResiduefluidcatalyticcrackerunit,locatedinMailiao,Taiwan,formaintenanceturnaround
towardsendMarch2014.Theunithasapropylenecapacityof350,000mt/yearandislikelyto
remainshutuntilearlyJuly2014.

93

C3OlefinsAverageweeklyPropylenePricesforFebruary2014(USD/Tonne)
Grades W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Propylene
South
Korea
1400 1412 1419 1395 1407 1420 1427 1408
Japan 1378 1391 1402 1380 1388 1404 1417 1395
SEAsia 1325 1335 1337 1331 1332 1370 1381 1372
C3 Propylene Price Chart & Graphical Trend

94

PriceMovementofPropyleneduringNovember2013to
Grades Market
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Propylene
Japan 1405 1370 1435 1370

South
Korea
1425 1385 1445 1385
SEAsia 1340 1325 1385 1325
PlantUpdateofPropyleneforFebruary2014
Propylene
YangziRiver
Petrochemical
Jiangsu,
China
Propylene
600,000
mt/year
7Feb14
Constructionofthe
newsplantstarted
JXNipponOil&
Energy
Marifu,
Japan
Propylene
50,000
mt/year
20Feb14 Maintenance
Turnaround (1Month)
NingboFortune
Petrochemical
Zhejiang,
China
Propylene
600,000
mt/year
2016
Planstostartupa
newpropylene
plant.
Lukoil
Stavrolen,
Russia
Ethylene
300,000
mt/year
26Feb14
Theplantwasshut
owingtoafireatan
ethylenestorage
unitoftheplant.
Propylene
155,000
mt/year
C3 Propylene Price Movement

C3 Propylene Plant Update

95

Despite dull demand trends and ample product availability in the region, styrene monomer
(SM) prices inched higher in Asia during week 1. Firmer upstream benzene values supported
thepricerise.OnFebruary7,althoughpricesdeclinedontheday,SMwasassessedattheUSD
1635/mt FOB Korea levels, a rise of USD 5/mt on the week. CFR China prices were assessed
higher at the USD 1660/mt levels. CFR India prices were up at the USD 1670/mt levels while
CFR South East Asia prices were assessed higher at the USD 1675/mt levels. In the domestic
marketsofChina,SMpriceswereattheYuan11600/mtextankmark.
StyreneMonomer(SM)pricesinAsiaplungedonFebruary10.Pricescontinuedtoslideonthe
back of fast weakening regional demand trends and the high inventory levels in China. FOB
Korea prices of SM were assessed down at the USD 1595/mt, a tumble of USD 40/mt from
February7.CFRChinapriceswereassesseddownattheUSD1620/mtlevels,asteepdropof
USD 40/mt. In the domestic China markets, SM prices were assessed lower at the Yuan
11175/mt ex tanklevels. In plant news, JiangsuLeastyChemical has shut its 420,000 mt/year
SM plant, located in Jiangsu province, China, for a maintenance turnaround on February 9,
2014.Theplantisexpectedtoremainshutforaperiodofaround3540days.
Styrene Monomer (SM) prices in Asia tumbled on February 5. Spot prices were pressured
down on the back of sinking upstream benzene values coupled with dull regional buying
trends. Sluggish downstream demand trends and reports of high product inventory levels in
key markets like China further supported the sharp price fall. FOB Korea prices of SM were
assesseddownattheUSD1550/mt,asteepfallofUSD45/mt.CFRChinapriceswereassessed
down at the USD 1575/mt levels. This is the lowest price level in the past 16 months. In the
domesticChinamarkets,SMpriceswereassesseddownattheYuan10925/mtextanklevels.
Styrene Monomer (SM) prices in Asia edged higher on February 6. Supporting the price rise
werereportsofimprovedbuyingtrendsintheregion.FOBKoreapricesofSMwereassessed
upattheUSD1555/mtlevels,againofUSD5/mtontheday.CFRChinapriceswereassessed
higherattheUSD1580/mtlevels.InthedomesticmarketsofChina,SMpriceswereassessed
upattheYuan10950/mtextanklevels.
Styrene monomer (SM) prices were hammered lower in Asia during week 2. Prices were
pressured down on the back of falling upstream benzene rates on the one hand, softening
D. Feedstock
D1 Styrene Monomer Summary

96

demandinthedownstreammarketsandreportsofrisinginventoriesofunsoldcargoesinthe
region. On February 14, although prices climbed on the day, SM was assessed at the USD
1565/mt FOB Korea levels, a plunge of USD 70/mt on the week. CFR China prices were
assessed lower at the USD 1590/mt levels. CFR India prices were down at the USD 1600/mt
levelswhileCFRSouthEastAsiapriceswereassessedlowerattheUSD1605/mtlevels.Inthe
domesticmarketsofChina,SMpricesweredownattheYuan10990/mtextankmark.
Despite a fall in upstream benzene values, SM prices firmed in Asia on February 17. Prices
climbedasdemandtrendsinkeymarketslikeChinaforSMhaslifted.FOBKoreapricesofSM
were assessed higher at the USD 1580/mt , a rise of USD 15/mt from February 14 assessed
levels.CFRChinapriceswereassessedupattheUSD1610/mtlevels,againofUSD20/mton
the day. In the domestic markets of China, SM prices were higher at the Yuan 11100/mt ex
tank levels. In plant news, GPPC has shut its 130,000 mt/year SM plant, located at Tashe,
Taiwan, for maintenance turnaround on February 15, 2014. The plant is expected to remain
shuttillMarch11,2014.
Styrene monomer (SM) prices firmed in Asia during week 3. The price rise was mainly on
accountofreportsoftradershortcovering.OnFebruary21,SMpriceswereassessedhigherat
the USD 1590/mt FOB Korea levels, a sharp rise of USD 25/mt on the week. CFR China prices
were assessed up at the USD 1615/mt levels. CFR India prices were up at the USD 1620/mt
levelswhileCFRSouthEastAsiapriceswereassessedhigherattheUSD1630/mtlevels.Inthe
domesticmarketsofChina,SMpriceswerehigherattheYuan11100/mtextankmark.Inplant
news, Asahi Kasei has shut its 320,000 mt/year SM plant, located at Mizushima, Japan, for
maintenance turnaround on February 20, 2014. The plant is expected to remain shut until
early 3rd week of April 2014. In another plant news, GPPC has shut its 130,000 mt/year SM
plant, located at Tashe, Taiwan, for maintenance turnaround on February 15, 2014 and it is
plannedtoremainoffstreamtillMarch11,2014.
StyreneMonomer(SM)pricesinAsiaedgedloweronFebruary24.Thepricefallwasmainlyon
account of bearish buying sentiments witnessed in key markets like China. Weaker upstream
benzene values furthersupported the price fall. FOB Korea prices of SM were assessed down
at the USD 1580/mt levels, a fall of USD 10/mt from February 21 assessed levels. CFR China
prices wereassessed lower at theUSD 1610/mt levels. In the domestic markets of China, SM
prices were assessed lower at the Yuan 11100/mt ex tank levels. In plant news, Tianjin Dagu
Chemicalisoperatingits500,000mt/yearSMplant,locatedatTianjin,China,atlowerratesof
around6570%ofproductioncapacitylevelsowingtodulldemandtrends.
StyreneMonomer(SM)pricesdownadjustedonFebruary25.Thepricefallwasonthebackof
reportsofhigherproductinventorylevelsinkeymarketlikeChina.Weakbuyingtrendsinthe
regionfurthersupportedthepricefall.FOBKoreapricesofSMwereassesseddownattheUSD

97

1570/mt, a day on day fall of USD 10/mt. CFR China prices were assessed lower at the USD
1595/mt levels. In the domestic China markets, SM prices were assessed down at the Yuan
10975/mt ex tank levels. In plant news, NS Styrene Monomer has shut its 230,000 mt/year
No.3SMplant,locatedinOita,Japan,formaintenanceturnaroundonFebruary25,2014.The
plantislikelytoremainoffstreamforaround45days.
SMpricesinAsiaonFebruary27declined.Pricesendedloweronthebackofacombinationof
bearishfactorsincludingafallinenergyprices,weakerbenzenefeedstockratesandlackluster
buyingtrendsinthedownstreamPSandABSmarkets.FOBKoreapricesofSMwereassessed
down at the USD 1560/mt levels, a day on day fall of USD 5/mt. CFR China prices were
assessed lower at theUSD 1585/mt levels. In the domestic markets of China, SMprices were
assessedattheYuan10800/mtextanklevels.
StyreneMonomer(SM)pricesinAsiaslippedduringweek4.Pricesfellonthebackofsubdued
regional buying trends and a decline in upstream benzene values. On February 28, SM prices
were assessed down at the USD 1560/mt FOB Korea levels, a sharp fall of USD 30/mt. CFR
China prices were assessed lower at the USD 1585/mt levels. CFR India prices were lower at
the USD 1595/mt levels while CFR South East Asia prices were assessed down at the USD
1600/mtlevels.InthedomesticmarketsofChina,SMpricesweredownattheYuan10825/mt
extankmark.
D1FeedstockStyreneMonomerPricesforFebruary2014(USD/Tonne)@CNFIndia
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
Styrene
Monomer
1615 1607 1620 1666 1627 1691 1687 1644
D1 Styrene Monomer Price Chart & Graphical Trend

98

PriceMovementofStyreneMonomerduringNovember2013to
Grade
Feb14
Last4months(Nov13
Feb14)
High Low High Low
Styrene
Monomer
1670 1595 1700 1595
D1 Styrene Monomer Price Movement

99

PlantUpdateofStyreneMonomer(SM)forFebruary2014
StyreneMonomer
StyrindoMono
Indonesia(SMI)
Merak,
Indonesia SM
250,000
mt/year
EndFeb
2014 Maintenance
Turnaround (1Month)
JiangsuLeasty
Chemical
Jiangsu,
China SM
420,000
mt/year.
9Feb14 Maintenance
Turnaround (40Days)
LGChem
Daesan,
SouthKorea SM
180,000
mt/year
MidMarch
2014 Maintenance
Turnaround (3Weeks)
GrandPacific
Petrochemical
Corp(GPPC)
Tashe,
Taiwan
SM
240,000
mt/year
MidApr
2014 Maintenance
Turnaround (UntilEarly
Jun2014)
GrandPacific
Petrochemical
Corp(GPPC)
Tashe,
Taiwan
SM
130,000
mt/year
15Feb14
Maintenance
Turnaround
(Around25
Days)
AsahiKasei
Mizushima,
Japan
SM
390,000
mt/year
EarlyMar
2014
Maintenance
Turnaround
(1Month)
IdemitsuKosan Chiba,Japan SM
210,000
mt/year
Mar14 Maintenance
Turnaround (1Month)
AsahiKasei
Chemicals
Mizushima,
Japan
SM
320,000
mt/year
MidFeb
2014 Maintenance
turnaround (PlantNo.
2)
(1Month)
JiangsuLeasty
Jiangsu,
China
SM
420,000
mt/year
MidMar
2014
Theplantis
shutsinceFeb
9,2014for
maintenance
turnaroundand
isplannedtobe
restartedin
midMar2014.
D1 Styrene Monomer Plant Update

100

Theplantis
plannedtobe
expandedto
around500,000
mt/year.
StyrindoMono
Indonesia(SMI)
Merak,
Indonesia
SM
250,000
mt/year
Mar14
Theplantis
plannedtobe
restarted.The
plantwasshut
overthelast
weekend.
(PlantNo.
2)
NSStyrene
Monomer
Oita,Japan
SM
230,000
mt/year
25Feb14 Maintenance
turnaround PlantNo.3 (45Days)
AsahiKasei
Mizushima,
Japan
SM
320,000
mt/year
Mar16
Theintended
shutdownhas
beenattributed
toplanned
expansionsof
existingSM
plantsandnew
largescaleSM
plants

101

EDC prices in Asia were assessed steady during week 1. Buying trends were quiet in key
markets like China due to the Lunar New Year holidays. CFR Far East Asia prices of EDC were
assessedattheUSD480/mtlevels.OfferswereheardattheUSD485490/mtCFRFarEastAsia
levels. CFR South East Asia prices were assessed unchanged at the USD 485/mt levels. VCM
prices meanwhile edged higher in parts of Asia. CFR Far East Asia prices assessed flat at the
USD 925/mt levels. Offers were heard at the USD 930940/mt CFR Far East Asia levels. CFR
SouthEastAsiapricesofVCMwereassessedhigherattheUSD975/mtlevels,aweekonweek
riseofUSD5/mt.Reportsoftightproductavailabilityintheregionpushedpriceshigher.
Despite weaker upstream ethylene values, EDC prices edged higher in parts of Asia during
week 2. CFR Far East Asia prices of EDC were assessed up at the USD 485/mt levels. Offers
were heard at the USD 500/mt CFR Far East Asia levels. CFR South East Asia prices were
assessed unchanged at the USD 485/mt levels. VCM prices meanwhile inched higher in some
partsofAsia.CFRFarEastAsiapricesassessedupattheUSD930/mtlevels.Thepricerisewas
on the back of tight product avails in the region. CFR South East Asia prices of VCM were
assessedflatattheUSD975/mtlevels.
EDCpricesinAsiafirmedduringweek3.Pricesclimbedinlinewithariseinethylenefeedstock
values.Reportsofcontinuedtightproductavailsintheregionfurthersupportedthepricerise.
CFR Far East Asia prices of EDC were assessed up at the USD 500/mt levels, a week on week
gainofUSD15/mt.CFRSouthEastAsiapriceswereassessedhigherattheUSD490/mtlevels,
up USD 5/mt on the week. VCM prices also marched higher in Asia. CFR Far East Asia prices
assessedupattheUSD945/mtlevels,againofUSD15/mtontheweek.CFRSouthEastAsia
prices of VCM were assessed higher at the USD 985/mt levels, a week on week rise of USD
10/mt. Prices firmed mainly on account of constrained product availability and a rise in
downstreamPVCvalues.
Firmer upstreamethylene values pushed EDCprices in Asia higher during week 4. Supporting
the price rise was constrained product avails in the region. CFR Far East Asia prices of EDC
were assessed up at the USD 505/mt levels, a week on week gain of USD 5/mt. Offers were
heard at the USD 485490/mt CFR Far East Asia levels. CFR South East Asia prices were
assessedhigherattheUSD495/mtlevels,upUSD5/mt.VCMpricesalsoinchedhigherinparts
ofAsia.CFRFarEastAsiapricesassessedupattheUSD950/mtlevels,againofUSD5/mton
the week. Offers were heard at the USD 970980/mt CFR Far East Asia levels. Firmer input
costscoupledwithtightproductavailabilitypushedpriceshigherintheregion.CFRSouthEast
AsiapricesofVCMwereassessedsteadyattheUSD985/mtlevels.
D2 EDC/VCM Summary

102

D2FeedstockAverageWeeklyEDC/VCMPrices
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
FarEastAsiaCFR
EDC 502 493 483 480 490 459 428 383
VCM 947 938 928 925 935 899 876 865
SouthEastAsiaCFR
EDC 492 488 485 485 488 452 421 388
VCM 985 980 975 972 978 933 892 881

D2 EDC/VCM Price Chart & Graphical Trend

103

PriceMovementofEDC/VCMduringNovember2013to
Grade
Feb14
Last4months(Nov13
Feb14)
High Low High Low
EDC
FEAsia 505 480 505 370
SEAsia 495 485 495 370
VCM
FEAsia 950 925 950 845
SEAsia 985 970 985 870
D2 EDC/VCM Price Movement

104

PlantUpdateofEDC/VCMforFebruary2014
EDC/VCM
ShinEtsu
Kashima,
Japan VCM
600,000
mt/year May14
Maintenance
Turnaround
Tosh
Yokkaichi,
Japan VCM
250,000
mt/year Mar14
Maintenance
Turnaround
Hanwha
Chemical
Ulsan,South
Korea EDC
430,000
mt/year
May14 Maintenance
Turnaround (1Month)
SPChemnicals
Jiangsu,
China
VCM
300,000
mt/year
20Feb14
Plantwasshut
owingto
technicalissues.
D2 EDC/VCM Plant Update

105

Despite a week on week rise in upstream PX values, PTA prices in Asia were assessed steady
during week 1. Buying trends were very quiet in key markets like China on account of the
Lunar New Year holidays. CFR China prices of PTA were assessed at the USD 955/mt levels
whileCFRSouthEastAsiapriceswereassessedunchangedattheUSD960/mt.Inthedomestic
Chinamarkets,PTApriceswereassessedattheYuan6780/mtlevels.Inplantnews,MCCPTA
India is likely to resume production at its 800,000 mt/year No.2 PTA plant, located at Haldia,
West Bengal, towards endFebruary 2014. The plant was shut for maintenance turnaround in
endJanuary2014.Inanotherplantnews,YishengDahuaisinplanstoreduceproductionruns
at its 2 mmt/year No.1 PTA plant, located at Dalian, Liaoning, this month owing to weak
economicfundamentals.
Prices of purified terephthalic acid (PTA) on February 12 inched lower in Asia. The price fall
wasaresultofadropinfeedstockPXvalues.CFRChinapricesofPTAwereassesseddownat
theUSD950/mtlevels,afallofUSD5/mtfromTuesday.Inthelocalmarkets,PTApriceswere
lowerattheYuan6670/mtlevels.AdeclineinMEGvaluesalsosupportedthefallinspotPTA
prices.
PTApricesinAsiainchedlowerduringweek2.Thepricefallwaspromptedbyacombination
ofbearishtriggersincludingsofterupstreamPXprices,weakdemandcuesandextremelydull
downstream polyester demand trends. CFR China prices of PTA were assessed down at the
USD 950/mt levels while CFR South East Asia prices were assessed lower at the USD 955/mt,
both down USD 5/mt on the week. In the domestic China markets, PTA prices were assessed
lowerattheYuan6610/mtlevels.
PTApricesinchedlowerinAsiaonFebruary18.PricesfellonthebackofweakerupstreamPX
valuesandpurchaseinterestwasseenslackintheregion.PricesofPTAwereassessedatthe
USD945/mtCFRChinalevels,aslipofUSD5/mtontheday.InthedomesticmarketsofChina,
pricesofPTAweredownattheYuan6550/mtlevels.
PricesofPTAdroppedinAsiaonFebruary19.AsharpdropinfellowpolyesterfeedstockMEG
valuessupportedthefallinspotPTAprices.CFRChinapriceswereassesseddownattheUSD
930/mtlevels,adayondayfallofUSD15/mt.InthedomesticmarketsofChina,pricesofPTA
wereassessedlowerattheYuan6520/mtlevels.
PricesofPTAedgedloweronFebruary20.AdeclineinupstreamPXvaluescoupledwithafall
in fellow polyester feedstock MEG prices, together supported the fall in spot PTA rates. CFR
D3 PTA Summary

106

China prices of PTA were assessed down at the USD 925/mt levels, a day on day fall of USD
5/mt.InthedomesticmarketsofChina,PTApriceswerelowerattheYuan6470/mtlevels.
PTA prices in Asia drifted lower during week 3. The price fall was triggered by ample product
avails in the region coupled with bearish upstream PX values. CFR China prices of PTA were
assesseddownattheUSD920/mtlevelswhileCFRSouthEastAsiapriceswereassessedlower
at the USD 925/mt, a tumble USD 30/mt on the week. In the domestic China markets, PTA
prices were assessed lower at the Yuan 6440/mt levels. In China, Sinopec has settled its PTA
contract price for February at the Yuan 6850/mt levels, a fall of Yuan 320/mt from January
levels.
PTA prices in Asia tumbled on February 24. The price fall was on account of a number of
bearish triggers including a slide in feedstock PX rates and subdued regional demand trends.
CFR China prices of PTA were assessed down at the USD 900/mt levels, a sharp drop of USD
20/mt from February 21 assessed levels. In the domestic China markets, PTA prices were
assessedlowerattheYuan6210/mtlevels,asteepfallofYuan230/mtontheday.
Pricesofpurifiedterephthalicacid(PTA)onFebruary25edgeddowninAsia.Thepricefallwas
a result of weaker feedstock PX values. Supporting the price decline was bearish demand
trendsindownstreampolyestermarkets.CFRChinapricesofPTAwereassesseddownatthe
USD895/mtlevels,adayondayfallofUSD5/mt.
Purified terephthalic acid (PTA) prices on February 26 edged down in Asia in tandem with
weaker upstream PX values. A drop in fellow polyester feedstock MEG values supported the
fallinspotPTAprices.CFRChinapricesofPTAwereassesseddownattheUSD890/mtlevels,a
fallofUSD5/mtontheday.
PTApricesinAsiaplungedduringweek4.Thepricefallwasonaccountofanumberofbearish
triggersincludingaslideinPXrates,highPTAinventoryinChinaandsubdueddemandtrends.
CFR China prices of PTA were assessed down at the USD 880/mt levels while CFR South East
AsiapriceswereassessedlowerattheUSD885/mt,aweekonweekplungeofUSD40/mt.CFR
IndiapricesofPTAwerelowerattheUSD910/mtlevels.InthedomesticChinamarkets,PTA
prices were assessed lower at the Yuan 6250/mt levels. In China, Sinopec has nominated its
PTAcontractpriceforMarchattheYuan6700/mtlevels,afallofYuan150/mtfromFebruary
levels.Whentraderspolledsaid,thereisaworryaboutthecurrentsubdueddemandtrendsin
downstream polyester markets widespread across Asia. The purchase momentum is just far
toosluggishandthisiswhatiswieldingdownwardpressureonspotPTArates.

107

D3FeedstockAverageWeeklyPTAPricesfor
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
FarEastAsiaCFR
PTA 985 933 958 955 958 971 1000 991
SouthEastAsiaCFR
PTA 890 937 957 960 936 976 1005 996
D3 PTA Price Chart & Graphical Trend

108

PriceMovementofPTAduringNovember2013to
Grade
Feb14
Last4months(Nov13
Feb14)
High Low High Low
PTA
FEAsia 960 880 1010 880
SEAsia 960 885 1015 885
PlantUpdateofPTAforFebruary2014
PTA
Hyosung
Petrochemical
Ulsan,South
Korea
PTA
420,000
mt/year
Apr14 Maintenance
Turnaround (2Weeks)
Mitsui
Chemicals
Iwakuni,
Japan
PTA
400,000
mt/year
Sep14 Maintenance
Turnaround (1Month)
LotteChemical
Ulsan,South
Korea
PTA(Plant
No.2)
400,000
mt/year
18Feb14
Restarted.Plantwas
shutowingto
technicalissues.
Reliance
Industries
Limited(RIL)
Dahej,
Gujarat
PTA
4.3million
mt/year
Q32014
Planstostartuptwo
newPTAplants.
Xianglu
Petrochemical
Fujian,
China
PTA
1.65
million
tonne/year
24Feb14
Theplantwasshutfor
abriefMaintenance
Turnaround
Yisheng
Petrochemical
Yisheng,
China
PTA
4.2million
mt/year
Mar14 Maintenance
turnaround (1Months)
D3 PTA Price Movement

D3 PTA Plant Update

109

MEG prices dropped in Asia during week 1. The decline in prices supported by sluggish
downstream polyester demand sentiments, the absence of China due to the Lunar New Year
holidaysandhighinventorylevelsofMEGinAsia.CFRChinapriceofMEGwereassesseddown
at the USD 985/mt levels, a week on week fall of USD 20/mt. CFR South East Asia prices of
MEG were lower at the USD 990/mt levels, a drop of USD 20/mt. In the domestic markets of
China,localpricesofMEGwereattheYuan7160/mtlevels.
MEG prices in Asia firmed on February 10. Reports of improved buying sentiments in the
regionsupportedthepricerise.CFRChinapriceswereassessedupattheUSD1005/mtlevels,
a sharp rise of USD 20/mt from February 7. In China, domestic prices of MEG were assessed
higherattheYuan7250/mtlevels.
MEGpricesinchedlowerinAsiaonFebruary11.Pricesfellonaccountofadropinfeedstock
ethylenevaluescoupledwithweakerfellowpolyesterfeedstockPTArates.CFRChinapricesof
MEGwereassesseddownattheUSD1000/mt,afallofUSD5/mtontheday.Inthedomestic
marketsofChina,MEGpriceswereattheYuan7240/mtlevels.
Prices of MEG prices tumbled in Asia on February 12. Prices dropped on the back of weaker
demandsentimentsintheregion.SupportingthedeclinewasadropinPTAprices.CFRChina
priceswereassesseddownattheUSD980/mtlevels,asharpdayondaydropofUSD20/mt.
Inthelocalmarkets,MEGpriceswereassessedlowerattheYuan7150/mtlevels,asteepfall
ofYuan85/mt.
MEG prices drifted lower in Asia on February 13. The price drop was supported by weaker
demandsentimentsandsofterfellowpolyesterfeedstockPTAprices.CFRChinapricesofMEG
were assessed down at the USD 970/mt, a day on day fall of USD 10/mt. In the domestic
marketsofChina,MEGpriceswerelowerattheYuan7090/mtlevels.
MEG prices were hammered lower in Asia during week 2. The price fall was sharp and was
prompted by a combination of bearish triggers including high MEG inventory levels in key
marketslikeChinaandextremelyweakdownstreampolyesterdemandtrends.CFRChinaprice
ofMEGwereassesseddownattheUSD945/mtlevelswhileCFRSouthEastAsiapricesofMEG
were lower at the USD 950/mt levels, a tumble of USD 40/mt on the week. In the domestic
marketsofChina,localpricesofMEGweredownattheYuan6960/mtlevels.Inthecontract
markets, MEGlobal has nominated its MEG contract price for March at the USD 1180/mt CFR
Asialevels.ThispricerepresentsarolloverfromFebruarylevels.
D4 MEG Summary

110

MEG prices in Asia on February 18 climbed. The price rise was attributed to higher feedstock
ethylenevalues.CFRChinapricesofMEGwereassessedupattheUSD960/mtlevels,adayon
dayriseofUSD15/mt.InChina,localpricesofMEGwerehigherattheYuan6930/mtlevels.
Prices of MEG prices tumbled in Asia on February 19. Prices dropped on the back of weaker
demand sentiments in the region. Supporting the decline was a fall in fellow polyester
feedstockPTAprices.CFRChinapriceswereassesseddownattheUSD945/mtlevels,adayon
day drop of USD 15/mt. In the local markets, MEG prices were assessed lower at the Yuan
6880/mtlevels,afallofYuan50/mt.
Prices of MEG declined in Asia on February 20. Prices dropped on the back of weaker
feedstock ethylene values. Supporting the decline was a drop in fellow polyester feedstock
PTA prices. CFR China prices were assessed down at the USD 935/mt levels, a sharp drop of
USD 10/mt on the day. In the local markets, MEG prices were assessed lower at the Yuan
6730/mtlevels,asteepfallofYuan150/mt.
MEG prices finished lower in Asia during week 3. The price fall was pressured by bearish
buyingtrendsandweakpolyestermarkets.CFRChinapriceofMEGwereassesseddownatthe
USD 930/mt levels while CFR South East Asia prices of MEG were lower at the USD 935/mt
levels, a week on week fall of USD 15/mt. In the domestic markets of China, local prices of
MEG were down at the Yuan 6730/mt levels. In China, Sinopec has settled its MEG contract
priceforFebruaryattheYuan7200/mtlevels,asharpfallofYuan450/mtfromJanuarylevels.
MEGlobalhasnominateditsMEGcontractpriceforMarchattheUSD1180/mtCFRAsialevels.
ThispricerepresentsarolloverfromFebruarylevels.
MEG prices slipped in Asia on February 24. Weaker fellow polyester feedstock PTA rates
supported the price fall. CFR China prices of MEG were assessed down at the USD 915/mt, a
fall of USD 15/mt from February 21 assessed levels. In the domestic markets of China, MEG
priceswerelowerattheYuan6705/mtlevels.
FirmerfeedstockethylenevaluespushedMEGpricesinAsiahigheronFebruary25.CFRChina
prices of MEG were assessed up at the USD 920/mt levels, a day on day rise of USD 5/mt. In
China,localpricesofMEGwereatthehigherYuan6715/mtlevels.Inplantnews,TOCGlycol
(TOCGC) has restarted its MEG plant. Located at Map Ta Phut, Thailand, the plant has a
production capacity of 400,000 mt/year and it was shut for a maintenance turnaround on
January16,2014.
Prices of MEG finished sharply lower in Asia on February 26. The price fall was triggered by
reports of subdued buying trends in China coupled with high inventory levels in the country.
SupportingthedeclinewasafallinfellowpolyesterfeedstockPTAprices.CFRChinapricesof

111

MEG were assessed at the USD 895/mt levels, a day on day slide of USD 25/mt. In the
domesticmarketsofChina,MEGpriceswereattheYuan6605/mtlevels.Inplantnews,Mitsui
Chemicals is in plans to shut its 50,000 mt/year MEG plant, located at Osaka, Japan, for
maintenance turnaround on June 19,2014. The plant is likely to remain shut until June 25,
2014.
MEG prices finished sharply lower in Asia during week 4. The price fall was pressured by
bearish buying trends and weak polyester markets. CFR China price of MEG were assessed
downattheUSD890/mtlevelswhileCFRSouthEastAsiapricesofMEGwerelowerattheUSD
895/mt levels, a tumble of USD 40/mt on the week. In the domestic markets of China, local
prices of MEG were down at the Yuan 6520/mt levels. Shell has nominated its MEG contract
price for March at the USD 1160/mt CFR Asia levels. This price represents a roll over from
February levels. Sabic has nominated its March MEG contract price at the USD 1180/mt CFR
Asialevels,ariseofUSD10/mtfromFebruarylevels.

112

D4FeedstockAverageWeeklyMEGPrices@CNFIndiabasisfor
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
MEG 906 946 979 1004 959 1014 1046 1033
D4 MEG Price Chart & Graphical Trend

113

PriceMovementofMEGduringNovember2013to
Grade
Feb14
Last4months(Nov13
Feb14)
High Low High Low
MEG 1010 890 1075 890
PlantUpdateofMEGforFebruary2014
MEG
SinopecHubei
Chemical
Fertilizer
Zhejiang,
China
MEG
200,000
mt/year
8Feb14
Thenewplant
startedoperations.
Ineos
Antwerp,
Belgium
MEG
290,000
mt/year
EndApril
2014
Maintenance
Turnaround
(6Weeks)
Ineos
Antwerp,
Belgium
MEG
290,000
mt/year
EndApril
2014
Maintenance
turnaround
(6Weeks)
TOCGlycol
(TOCGC)
MapTa
Phut,
Thailand
MEG
400,000
mt/year
Earlythis
week
Plantrestarted.The
plantwasshuton
Jan16,2014for
maintenance
turnaround
D4 MEG Price Movement

D4 MEG Plant Update

114

ACN prices in Asia were assessed stable during week 1. CFR Far East Asia prices of ACN were
assessed steady at the USD 2000/mt levels while CFR South East Asia prices were assessed
unchangedattheUSD2000/mtlevels.InSouthAsia,pricesofACNwereassessedstableatthe
USD1980/mtCFRlevels.InthedomesticmarketsofChina,pricesofACNwereassessedatthe
Yuan14100/mtlevels.Inplantnews,CPCisrunningits240,000mt/yearACNplant,locatedat
Tashe,Taiwan,toaround8085%capacitylevels.AsahiKaseiisalsooperatingitsACNplantto
around 70% capacity levels. The plant is located at Kawasaki, Japan and has a production
capacity of 150,000 mt/year. Taekwang is expected to shut its 290,000 mt/year ACN plant
located at Ulsan, South Korea. The plant will be taken offstream for a maintenance
turnaroundinmidFebruary2014foraperiodofaroundthreeweeks.
ACN prices in Asia raced higher during week 2. Spot prices gained on the back of improved
buying trends witnessed in key markets like China post the Lunar New Year holidays coupled
with firmer feedstock propylene values. CFR Far East Asia prices of ACN were assessed up at
the USD 2060/mt levels, a spike of USD 60/mt on the week. CFR South East Asia prices were
assessed higher at the USD 2010/mt levels, up USD 10/mt. In South Asia, prices of ACN were
assessed up at the USD 1990/mt CFR levels, a week on week gain of USD 10/mt. In the
domesticmarketsofChina,pricesofACNwereassessedattheYuan14100/mtlevels.
ACNpricesinAsiawereassessedsteadyduringweek3.Buyingtrendswerereportedtobesoft
in the region. CFR Far East Asia prices of ACN were assessed flat at the USD 2060/mt levels
while CFR South East Asia prices wereassessed unchanged at the USD 2010/mt levels. Offers
for ACN were heard at the USD 2100/mt CFR China levels. In South Asia, prices of ACN were
assessedstableattheUSD1990/mtCFRlevels.
ACN prices in Asia were assessed mixed during week 4. CFR South East Asia prices were
assessed down at the USD 2000/mt levels, a week on week fall of USD 10/mt. Offers were
heard at the USD 2010/mt CFR South East Asia levels. Buyer bids were heard at the USD
1980/mt CFR levels. In South Asia, prices of ACN were assessed up at the USD 2000/mt CFR
levels, a gain of USD 10/mt on the week. Offers were heard at the USD 2050/mt CFR South
Asiamark.CFRFarEastAsiapricesofACNwereassessedflatattheUSD2060/mtlevels.Offers
wereheardattheUSD2100/mtCFRFarEastAsialevels.Inplantnews,AsahiKaseiChemicals
is likely to permanently shut its 150,000 mt/year ACN plant, located at Kawasaki, Japan in
E. Intermediates
E1 Acrylonitrile (ACN) Summary

115

August2014. Thereasoncitedforthepermanentshutdownisweakeconomicfundamentals.
In another plant news, Formosa is likely to resume production at its 280,000 mt/year ACN
plant, located at Mailiao, Taiwan, towards the end of March 2014, following a maintenance
turnaroundinFebruary2014.
E1IntermediatesAverageWeeklyAcrylonitrilePrices
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
FarEastAsiaCFR
ACN 2060 2060 2050 2000 2043 1912 1803 1844
SouthEastAsiaCFR
ACN 2002 2010 2008 2000 2005 1912 1804 1833
E1 Acrylonitrile (ACN) Price Chart & Graphical Trend

116

PriceMovementofACNduringNovember2013to
Petrochemical
Intermediates
Feb14
Last4months(Nov13
Feb14)
High Low High Low
ACN
FEAsia 2060 2000 2060 1780
SEAsia 2010 2000 2010 1785
PlantUpdateofACNforFebruary2014
ACN
Taekwang
Petrochemical
Ulsan,South
Korea
ACN
290,000
mt/yr
17Feb14
Maintenance
Turnaround (1Month)
Pemex
Petroquimica
Mexico
stateof
Veracruz,
USA
ACN
60,000
mt/year
Restarted
ThePlantwas
shutonFeb12,
2014owingto
poweroutage.
However,it
restartedtwo
dayslater.
E1 Acrylonitrile (ACN) Price Movement

E1 Acrylonitrile (ACN) Plant Update

117

DOP prices inched higher during week 1 in Asia. Prices climbed on the back of reports of
improvedregionalbuyingtrendscoupledwithgainsin2EHfeedstockprices.CFRChinaprices
ofDOPwereassessedupattheUSD1575/mtlevels,aweekonweekriseofUSD5/mt.Offers
were heard at the USD 15801590/mt CFR China levels. Bids were heard at the USD 1550/mt
CFRChinalevels.CFRSouthEastAsiapriceswereassessedhigherattheUSD1595/mtlevels,a
gainofUSD5/mt.
DOP prices edged lower in Asia during week 2. Prices slipped as regional demand remained
sluggish on the one hand while on the other, upstream 2EH prices declined. CFR China prices
ofDOPwereassesseddownattheUSD1570/mtlevels,aweekonweekdeclineofUSD5/mt.
OfferswereheardattheUSD1580/mtCFRChinalevels.BidswereheardattheUSD1550/mt
CFRChinalevels.CFRSouthEastAsiapriceswereassessedlowerattheUSD1590/mtlevels,a
dropofUSD5/mt.
DOPpricesinAsiadriftedlowerduringweek3.Pricesslippedonthebackofsluggishregional
demand trends. CFR China prices of DOP were assessed down at the USD 1555/mt levels, a
week on week fall of USD 15/mt. Offers were heard at the USD 1560/mt CFR China levels.
BuyerbidswereheardattheUSD1540/mtCFRChinalevels.CFRSouthEastAsiapriceswere
assessedlowerattheUSD1575/mtlevels,adropofUSD15/mtontheweek.
Prices of DOP in Asia declined during week 4. The price fall was prompted by a decline in
upstream2EHandPAvalues.Quietdemandtrendssupportedthepriceslide.CFRChinaprices
of DOP were assessed down at the USD 1545/mt levels, a week on week fall of USD 10/mt.
Offers were heard at the USD 1550/mt CFR China levels. Buyer bids were heard at the USD
1530/mtCFRChinalevels.CFRSouthEastAsiapriceswereassessedlowerattheUSD1565/mt
levels,adropofUSD15/mt.
E2 DOP Summary

118

E2IntermediatesAverageWeeklyDOPPricesfor
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
FarEastAsiaCFR
DOP 1551 1563 1573 1572 1565 1558 1549 1528
SouthEastAsiaCFR
DOP 1571 1583 1593 1592 1585 1578 1571 1577
E2 DOP Price Chart & Graphical Trends

119

PriceMovementofDOPduringNovember2013to
Petrochemical
Intermediates
Feb14
Last4months(Nov13
Feb14)
High Low High Low
DOP
FEAsia 1575 1545 1575 1505
SEAsia 1595 1565 1595 1545
E2 DOP Price Movement

120

Firmer propylene feedstock costs, constrained availability and reports of improved demand
together supported a rise in 2EH prices in Asia during week 1. CFR China prices of 2EH were
assessedupattheUSD1450/mtlevels,aweekonweekriseofUSD5/mt.Offerswereheardat
theUSD1480/mtCFRChinalevels.CFRSouthEastAsiapricesof2EHwereassessedhigherat
the USD 1475/mt levels, both up USD 5/mt on the week. In the domestic markets, prices of
2EHwereassessedattheYuan10200/mtmark.
Despite firmer upstream propylene values, 2EH prices declined in Asia during week 2. Prices
fellonthebackofsubduedbuyingsentimentswidespreadacrosstheAsianregion.Supporting
the price fall was a decline in downstream DOP rates. CFR China pricesof 2EH were assessed
down at the USD 1440/mt levels, a week on week drop of USD 10/mt. CFR South East Asia
prices of 2EH were assessed lower at the USD 1465/mt levels, a fall of USD 10/mt. In the
domesticmarkets,pricesof2EHwereassessedattheYuan10200/mtmark.
Despiteweakerupstreampropylenevalues,pricesof2EHwereassessedstableinAsiaduring
week 3. Regional product availability was reported to be tight. CFR China prices of 2EH were
assessedsteadyattheUSD1440/mtlevels.OfferswereheardattheUSD1450/mtCFRChina
levels. In South East Asia, prices of 2EH were assessed flat at the USD 1465/mt CFR levels. In
thedomesticmarketsofChina,pricesof2EHwereassessedattheYuan10200/mtmark.
Pricesof2EHslippedinAsiaduringweek4.Thepricefallwasattributedtoweakerupstream
propylene costs on the one hand and subdued buying on the other. CFR China prices of 2EH
were assessed lower at the USD 1430/mt levels, down USD 10/mt on the week. Offers were
heardattheUSD14501455/mtCFRChinalevels.BuyerbidswereheardattheUSD1400/mt
levels and below. In South East Asia, prices of 2EH were assessed down at the USD 1455/mt
CFR levels, a week on week drop of USD 10/mt. In the domestic markets of China, prices of
2EHwereassessedattheYuan9600/mtmark.
E3 2EH Summary

121

E3IntermediatesAverageweekly2EHPricesfor
Grade W4 W3 W2 W1
Feb
14
Jan
14
Dec
13
Nov
13
FarEastAsiaCFR
2EH 1436 1440 1445 1447 1442 1427 1415 1391
SouthEastAsiaCFR
2EH 1461 1465 1470 1472 1467 1452 1440 1416
E3 2EH Price Chart & Graphical Trend

122

PriceMovementof2EHduringNovember2013to
Petrochemical
Intermediates
Feb14
Last4months(Nov13
Feb14)
High Low High Low
2EH
FEAsia 1450 1430 1450 1375
SEAsia 1475 1455 1475 1400
PlantUpdateof2EHforFebruary2014
2EH
Hanwha
Chemical
Yeosu,
SouthKorea
2EH
100,000
mt/year
2Mar14
Maintenance
Turnaround
NBA
10,000
mt/year
E3 2EH Price Movement

E3 2EH Plant Update

123

ThebuyingpulseremainedverysoftonFebruary1intheopenmarketsofMumbai.
AdullbuyingmoodwasobservedonFebruary3intheopenmarketsofMumbai.
AverysoftbuyingmoodcontinuedtoprevailintheopenmarketsofMumbaionFebruary4.
ThebuyingmoodwasveryslowintheopenmarketsofMumbaionFebruary5.
BuyingtrendscontinuedtoremaindullintheopenmarketsofMumbaionFebruary6.
AslowbuyingmoodwasnoticedintheopenmarketsofMumbaionFebruary7.
Thebuyingpulseremainedverysoftthroughouttheweek1intheopenmarketsofMumbai.
SlowbuyingenquirywasrecordedintheopenmarketsofMumbaionFebruary10.
AverysoftbuyingmoodwasobservedintheopenmarketsofMumbaionFebruary11.
ThebuyingmoodwasverydullobservedonFebruary12intheopenmarketsofMumbai.
AdullbuyingmoodwasobservedintheopenmarketsofMumbaionFebruary13and14.
AverydullbuyingmoodcontinuedtoprevailintheopenmarketsofMumbaionFebruary17.
ThebuyingmomentumwasveryslowintheopenmarketsofMumbaionFebruary18.
ThebuyingmoodwasweakintheopenmarketsofMumbaionFebruary20.
SlowbuyingwasrecordedintheopenmarketsofMumbaionFebruary24.
AslowbuyingmoodwasrecordedintheopenmarketsofMumbaionFebruary26.
F1 Indian Polymers Market Summary
F. Indian Polymers

124

AveryslowbuyingmoodwasobservedonFebruary27intheopenmarketsofMumbai.
ThebuyingmoodwasverydullintheopenmarketsofMumbaionFebruary28.
PriceMovementofLLDPEinIndianPolymermarketforFebruary2014(Rs./Kg)
LLDPE
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
Film 110.75 110.75 110.75 103.75
Roto
Moulding
110.95 110.95 110.95 103.95
Injection
Moulding
117.76 117.76 117.76 110.76
Extrusion
Coating
113.74 113.74 113.74 106.74
PriceMovementofLDPEinIndianPolymermarketforFebruary2014(Rs./Kg)
(Note:LDPEpricesareexBhivandi,inclusiveofexciseduty)
LDPE
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
General
Purpose
130.30 130.30 130.30 126.56
HeavyDuty 132.41 132.41 132.41 127.91
MilkPouch 136.23 136.23 136.23 130.04
Injection
Moulding
133.01 133.01 133.01 128.52
Lamination 144.18 144.18 144.18 136.20
F2 Indian Polymers Price Movement

125

PriceMovementofHDPEinIndianPolymermarketforFebruary2014(Rs./Kg)
HDPE
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
Raffia 113.34 113.34 113.34 106.84
Film 107.96 107.96 107.96 100.96
Injection
Moulding
110.83 110.83 110.83 103.83
Blow
Moulding
109.29 109.29 109.29 101.79
PriceMovementofPPinIndianPolymermarketforFebruary2014(Rs./Kg)
PP
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
Raffia 114.08 114.08 114.08 108.53
Injection
Moulding
108.27 108.27 108.27 103.72
TQFilm 111.47 111.47 111.47 104.92
Block
Copolymer
111.36 111.36 111.36 105.81
Random
Copolymer
113.89 113.89 113.89 107.34
BOPP 112.60 112.60 112.60 105.54

126

PriceMovementofPVCinIndianPolymermarketforFebruary2014(Rs./Kg)
PVC
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
Suspension 75.5 75.5 75.50 70.50
PriceMovementofPSinIndianPolymermarketforFebruary2014(Rs./Kg)
PS
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
GPPS 135.00 135.00 135.00 130.00
HIPS 138.00 138.00 138.00 133.00
PriceMovementofABSinIndianPolymermarketforFebruary2014(Rs./Kg)
ABS
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
ABS 144.97 144.97 144.97 144.97
PriceMovementofPETinIndianPolymermarketforFebruary2014(Rs./Kg)
PET
Feb14
Last4months(Nov'13
Feb'14)
High Low High Low
Bottle 108.90 108.90 109.90 108.90

127

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majority of information is liable to change without any intimation or notice.
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POLYMERUPDATE - Asian Petrochemical

Monthly Price Watch Report

Crude Oil Graphical Trend

Crude Oil Price Movement

NymexCrude DatedBrent WTICushing

Naphtha Graphical Trend

A.1 LLDPE Price Movement

A.1 LLDPE Plant Update

A.2 LDPE Summary

A.2 LDPE Price Chart & Graphical Trend

A.2 LDPE Price Movement

A.2 LDPE Plant Update

A.3 HDPE Price Chart & Graphical Trend

A.3 HDPE Plant Update

A.4 PP Price Chart & Graphical Trend

A.4 PP Price Movement A.4 PP Price Movement

A.5 - Polyvinyl Chloride (PVC) Price Chart & Graphical Trend

A.5 PVC Plant Update

A.6 Polystyrene (PS) Price Chart & Graphical Trend

A.6 Polystyrene (PS) Price Movement

A.6 Polystyrene (PS) Plant Update

A.7 ABS Summary

A.7 ABS Price Chart & Graphical Trend

A.7 ABS Price Movement

B1 Benzene Price Chart & Graphical Trend

FOBKorea 1345 1270 1370 1220

B2 Toluene Price Chart & Graphical Trend

FOBKorea 1115 1055 1255 1055

B2 Toluene Price Movement

FOBKorea 1315 1230 1435 1230

FOBKorea 1310 1205 1425 1205

FOBKorea 1095 1025 1180 1025

FOBKorea 1150 1060 1240 1060

B3 Xylene Price Movement

B3 Xylene Plant Update

B4 Methanol Price Chart & Graphical Trend

CFRIndia 540 480 565 440

B4 Methanol Price Movement

C1 Butadiene Price Chart & Graphical Trend

Japan 1445 1410 1620 1340

China 1490 1450 1720 1390

C1 Butadiene Price Movement

C1 Butadiene Plant Update

C2 Ethylene Price Chart & Graphical Trends

Japan 1405 1380 1460 1290

C2 Ethylene Price Movement

C3 Propylene Price Chart & Graphical Trend

Japan 1405 1370 1435 1370

C3 Propylene Price Movement

D1 Styrene Monomer Price Chart & Graphical Trend

D1 Styrene Monomer Price Movement

D2 EDC/VCM Price Chart & Graphical Trend

D2 EDC/VCM Price Movement

D2 EDC/VCM Plant Update

D3 PTA Price Chart & Graphical Trend

D3 PTA Price Movement

D4 MEG Price Chart & Graphical Trend

D4 MEG Price Movement