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POLYMERUPDATE - Asian PetrochemicalMonthly Price Watch Report

2014June

www.polymerupdate.com

Corporate OfficePolymerupdate.com

344, A-Z Industrial EstateG.K.Marg, Near Peninsula Park

Lower Parel, Mumbai-400013Maharashtra, INDIA

Tel: (91-22) 61772000 (25 Lines)Fax: (91-22) 61772025

Email: [email protected]

Asian Petrochemical Monthly Price Watch Report

June 2014

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1 www.polymerupdate.com Head Office: Shalimar Infotech Pvt. Ltd.

344, A Z Industrial Estate, G. K. Marg, Lower Parel, Mumbai 400013, INDIA Tel: (91 22) 61772000 (25 lines) Fax: (91 22) 61772025 Email: [email protected]

Index

Notes to Price Watch Report 02 Executive Summary 04

Crude Oil 08 Naphtha 14

Polymers LLDPE 18 LDPE 25 HDPE 32 PP 40 PVC 50 PS 54 ABS 57

Aromatics Benzene 60 Toluene 65 Xylene 70 Methanol 79

Olefins Butadiene 83 Ethylene 87 Propylene 91

Feedstock Styrene Monomer 95 EDC/VCM 100 PTA 104 MEG 109

Intermediates ACN 113 DOP 116 2EH 119

Indian Polymers Market Indian Polymers Market Summary 122 Indian Polymers Price Movement 124

Disclaimer & Copyright 127

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Notes to Price Watch Report

Market Terms FOB Free On Board

CNF/CFR Cost + Freight CIF Cost + Insurance + Freight

Mainstream Offer Main Market Offer

Spot

Quoted for sales of fixed volumes for delivery in a simple shipment at a specified time, normally within four weeks

from the date of publication. The quotes cover prices agreed in negotiations between buyers and sellers in the

week leading up to the date of publication

Local All local prices are Basic (exclusive of excise duty and

other local taxes)

Contract

Quoted for agreements covering the supply of a product over an extended period. Prices are negotiated between a buyer and seller at regular intervals, often monthly or quarterly and are quoted for the month or quarter of

delivery Exwork ExFactory Price

Markets by Regions Far East Asia North East Asia South Asia South East Asia South Korea Taiwan India Singapore

Japan China Pakistan Thailand Sri Lanka Indonesia

Bangladesh Malaysia Philippines

Week 1 June 2 to June 7

Week 2 June 9 to June 14 Week 2 June 16 to June 21 Week 4 June 23 to June 30

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Exchange Rate = 1 USD (Jun. 14)

W4 W3 W2 W1

Chinese Yuan (CNY) 6.158663 6.1562 6.14755 6.168343

Thai Baht (THB) 32.40066 32.3755 32.40395 32.67176

South Korean Won (KRW) 1016.37

1019.11 1016.59 1020.8

Singapore Dollar (SGD) 1.249013

1.2506 1.249883 1.254771

Japanese Yen (JPY) 101.7238 101.985 102.2267 102.2

Indian Rupee (INR) 60.04541 59.97395 59.09232 59.09839

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Executive Summary

Crude oil prices declined on June 30 on reports that the fighting in Iraq has not spread to the

oilproducing southern region of the country. The fall in prices was also prompted by a drop in US equity indices. Nymex crude futures traded lower at USD 105.37/barrel while Dated Brent spot prices were down at USD 112.36/barrel. WTI Cushing spot prices were lower at USD 105.37/barrel.

Open spec naphtha bid prices on June 30 for the 1H of Aug were assessed at the USD 989/mt CFR Far East levels while the ask rate was at the USD 991/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were down at the USD 987.50/mt levels.

LLDPE prices finished higher in Asia during week 4. Gains came on the back of a combination of bullish triggers including firmer energy prices, a rise in naphtha values, a lift in demand trends

and a sharp climb in ethylene feedstock prices in Asia. On June 27, CFR Far East Asia prices of LLDPE were assessed at the USD 1575/mt mark, an increase of USD 15/mt from last week. CFR South East Asia prices were assessed higher at the USD 1590/mt mark, a gain of USD 15/mt from the previous week. CFR South Asia prices were assessed up at the USD 1635/mt levels, a rise of USD 5/mt from last week.

LDPE prices marched higher in parts of Asia during week 4. CFR South East Asia prices of LDPE were assessed up at the USD 1590/mt mark, a sharp increase of USD 30/mt from the previous week. Prices firmed in anticipation of tight product avails in the region, going forward. Buying trends however remains sluggish in the region ahead of the holy Muslim month of Ramadan. On June 27, CFR Far East Asia prices of LDPE were assessed at the USD 1600/mt mark, a drop of USD 10/mt from last week.

HDPE prices were assessed mixed in Asia during week 4. In Far East Asia, prices of HDPE film on June 27 were assessed at the USD 1595/mt levels, a fall of USD 5/mt from last week. HDPE yarn prices were up at the USD 1620/mt levels, a rise of USD 5/mt from the previous week. HDPE injection moulding prices were assessed unchanged at the USD 1530/mt levels. HDPE blow moulding prices were assessed steady at the USD 1540/mt CFR levels. Demand trends were weak in key markets like China. In South East Asia, prices of HDPE film were assessed higher at the USD 1600/mt levels, a rise of USD 20/mt from the previous week. HDPE injection prices were up at the USD 1570/mt levels. HDPE BM prices were unchanged at the USD 1550/mt levels. HDPE yarn prices were assessed higher at the USD 1600/mt levels. Buying activity however remains dull in the region ahead of the holy Muslim month of Ramadan. In South Asia, prices of HDPE injection and HDPE BM were assessed flat at the USD 1570/mt levels. HDPE film prices were assessed stable at the USD 1595/mt CFR South Asia levels. Buying trends were reported as soft in the region.

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Polypropylene (PP) prices finished higher in parts of Asia during week 4. The price rise was on the back of firmer upstream crude, naphtha and propylene values. On June 27, CFR Far East Asia prices of PP raffia and PP injection were assessed at the USD 1510/mt levels. BOPP prices were assessed unchanged at the USD 1530/mt levels. PP film prices were flat from last week at the USD 1530/mt levels. PP block copolymer were assessed up at the USD 1590/mt levels. CFR South East Asia, PP raffia and PP injection prices were assessed up at the USD 1550/mt, a rise of USD 10/mt from the previous week. PP film prices were higher at the USD 1565/mt levels, a gain of USD 10/mt from last week. Prices of BOPP were assessed higher at the USD 1565/mt levels, up USD 15/mt on the week. PP block copolymer prices were assessed up at the USD 1610/mt levels. In South Asia, prices of PP raffia and PP injection were assessed up at the USD 1560/mt levels. PP film prices were assessed higher at the USD 1590/mt levels. BOPP prices were assessed up the USD 1585/mt levels. PP block copolymer prices were assessed higher at the USD 1615/mt levels.

PVC prices declined in Asia during week 4. The price fall was attributed to poor demand trends across Asia. CFR China prices of PVC were assessed down at the USD 1045/mt levels, a fall of USD 5/mt from last week. CFR South East Asia prices of PVC were assessed lower at the USD 1045/mt levels, a drop of USD 5/mt from the previous week.

PS prices inched higher in Asia during week 4. A sharp gain in feedstock SM rates supported the price rise in the region. CFR China prices of GPPS were assessed up at the USD 1710/mt levels while CFR South East Asia prices of GPPS were assessed higher at the USD 1725/mt levels, both up USD 5/mt from the previous week. In China, HIPS prices were assessed at the USD 1755/mt CFR mark, a rise of USD 5/mt from last week. CFR South East Asia prices of HIPS were assessed

flat at the USD 1795/mt levels. Higher upstream butadiene rates pushed prices higher. EPS prices meanwhile were assessed up at the USD 1720/mt FOB North East Asia mark for general purpose grades.

Firmer feedstock SM, butadiene and ACN values pushed ABS prices higher in Asia during week 4. CFR China prices of ABS were assessed up at the USD 1920/mt levels, a rise of USD 20/mt from the previous week. CFR South East Asia prices of ABS were assessed higher at the USD 1920/mt CFR levels, a gain of USD 5/mt from last week.

Benzene prices declined in Asia on June 30. Prices dropped as buying sentiments in the region weakened. Supporting the fall in benzene prices was a decline in upstream crude values. FOB

Korea prices

of

benzene

were

assessed

down

at

the

USD

1410/mt

levels,

a fall

of

USD

10/mt

from June 27 assessed levels. The price fall was further supported by lower benzene values in the US.

Toluene prices in Asia drifted lower on June 30. The price fall was attributed to dull buying interest in the region. The sharp price drop was supported by a fall in upstream crude values

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and weaker downstream benzene rates. FOB Korea prices of toluene were assessed down at the USD 1180/mt levels, a sharp drop of USD 25/mt from June 27 assessed levels. CFR China prices of toluene were assessed lower at the USD 1195/mt levels.

Paraxylene (PX) prices in Asia edged higher on June 30. The price gain was attributed to strong buying trends witnessed in the region. The price rise was further supported by a rise in downstream PTA rates. FOB Korea prices of PX were assessed up at the USD 1465/mt levels, a rise of USD 5/mt from June 27 assessed rates. CFR Taiwan prices were assessed up at the USD 1485/mt levels.

Methanol prices were assessed mixed in Asia during week 4. On June 27, CFR Korea prices of methanol were assessed steady from last week at the USD 370/mt levels. Buying trends were reported as dull in the region. CFR South East Asia prices were assessed down at the USD 380/mt levels, a fall of USD 5/mt from the previous week. The price fall was attributed to weak buying and sufficient product avails in the region. CFR China prices were assessed up at the USD 335/mt CFR China levels, a gain of USD 5/mt from last week. CFR India prices were assessed lower at the USD 300/mt levels. The price fall was on the back of ample product availability in the region.

Butadiene prices climbed in Asia during week 4. Prices firmed on the back of reports of strong regional buying interest on the one hand and tight product availability on the other. Strength in upstream costs supported the price rise. FOB Korea prices of butadiene were assessed up at the USD 1395/mt levels, a week on week rise of USD 25/mt from last week. CFR China prices of butadiene were assessed higher at the USD 1360/mt levels, a gain of USD 30/mt from the previous week. CFR South East Asia prices of butadiene were assessed higher at the USD 1350/mt levels, a gain of USD 30/mt from last week.

Ethylene prices in Asia firmed during week 4. The sharp price rise was triggered by limited regional product availability. Supporting the price rise were firmer upstream naphtha values. FOB Korea prices of ethylene were at the USD 1410/mt levels, a rise of USD 25/mt from last week. CFR North East Asia prices were assessed higher at the USD 1475/mt levels, a gain of USD 25/mt from the previous week. CFR South East Asia prices of ethylene were assessed up at the USD 1450/mt levels, a sharp increase of USD 40/mt from last week.

Propylene prices inched up in parts of Asia on June 30. FOB Korea prices of propylene were assessed higher at the USD 1385/mt, a rise of USD 5/mt from June 27 assessed levels. The price rise was on the back of bullish buying sentiments and improved downstream product demand trends in the region. The price rise was supported by firmer upstream naphtha values. CFR China prices were assessed steady at the USD 1455/mt levels.

SM prices bolstered higher in Asia during week 4. Price gains came on the back of the strength in upstream benzene and ethylene rates. On June 27, prices of SM were assessed at the USD

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1610/mt FOB Korea levels, a sharp gain of USD 45/mt from the previous week. CFR China prices were assessed higher at the USD 1640/mt levels, a steep rise of USD 50/mt from last week. CFR South East Asia prices were assessed higher at the USD 1655/mt levels, up USD 45/mt. CFR India prices were up at the USD 1640/mt levels, a sharp increase of USD 45/mt from the previous week.

EDC prices inched lower in parts of Asia during week 4. CFR Far East Asia prices of EDC were assessed steady at the USD 440/mt levels. CFR South East Asia prices were assessed lower at the USD 435/mt levels, a fall of USD 5/mt from the previous week. Prices declined on reports of soft regional buying trends. VCM prices were also dropped in Asia. CFR Far East Asia prices were assessed down at the USD 905/mt levels, a decline of USD 5/mt from last week. CFR South East Asia prices of VCM were assessed lower at the USD 940/mt levels, a sharp drop of USD 20/mt from the previous week. Prices fell on the back of dull regional buying trends and a decline in

downstream PVC

rates.

PTA prices in Asia inched higher on June 30. Gains in prices of upstream PX rates were seen supporting the increase in spot PTA prices. CFR China prices of PTA were assessed higher at the USD 1000/mt levels, a rise of USD 5/mt from June 27 assessed levels.

Despite firmer upstream ethylene values, MEG prices on June 30 down adjusted in Asia. Demand sentiments from the start of the day were seen sluggish and seller offers for MEG were met with resistance. CFR China prices of MEG were assessed down at the USD 1015/mt, a fall of USD 5/mt on the day.

ACN prices climbed in Asia during week 4. CFR South East Asia prices were assessed higher at

the USD 1920/mt levels, a rise of USD 10/mt from the previous week. CFR South Asia, prices of ACN were assessed up at the USD 1975/mt levels, a gain of USD 15/mt from last week. Prices climbed mainly on account of limited product availability in the region. Supporting the price rise was higher feedstock propylene values. CFR Far East Asia prices of ACN were assessed flat from last week at the USD 1930/mt levels.

DOP prices in Asia journeyed north during week 4. Prices climbed on the back of reports of improved regional buying trends coupled with gains in spot PA prices. CFR China prices of DOP were assessed up at the USD 1525/mt levels, a rise of USD 10/mt from the previous week. CFR South East Asia prices were assessed higher at the USD 1545/mt levels, a gain of USD 10/mt from last week.

2EH prices in Asia were assessed steady during week 4. This is despite improved demand sentiments in the region and higher feedstock propylene values. CFR China prices of 2EH were assessed flat from last week at the USD 1430/mt levels while CFR South East Asia, prices of 2EH were assessed unchanged at the USD 1470/mt CFR levels.

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Crude oil

prices

fell

on

June

2

on

reports

that

a key

oil

port

in

Libya

was

scheduled

to

restart

production. The fall in prices was also a result of a rise in the value of the US dollar. Nymex crude futures traded lower at USD 102.47/barrel while Dated Brent spot prices were down at USD 108.83/barrel. WTI Cushing spot prices were down at USD 102.47/barrel.

Crude oil prices displayed a mixed undertone on June 3 on the back of a fall in US crude and distillate inventories on the one hand and a rise in the value of the US dollar, on the other. Nymex crude futures traded higher at USD 102.66/barrel while Dated Brent spot prices were down at USD 108.82/barrel. WTI Cushing spot prices were higher at USD 102.66/barrel.

Crude oil prices fell on June 4 on the back of a rise in US gasoline and distillate inventories. The

fall in prices was also a result of gains in the value of the US dollar. Nymex crude futures traded lower at USD 102.64/barrel while Dated Brent spot prices were down at USD 108.40/barrel. WTI Cushing spot prices were lower at USD 102.64/barrel.

Crude oil prices displayed a mixed undertone on June 5 on the back of a rise in US jobless benefit claims on the one hand and a decline in the value of the US dollar on the other. Nymex crude futures traded lower at USD 102.48/barrel while Dated Brent spot prices were up at USD 108.79/barrel. WTI Cushing spot prices were lower at USD 102.48/barrel.

Crude oil prices displayed a mixed undertone on June 6 on the back of a rise in US employment

on the

one

hand

and

gains

in

the

value

of

the

US

dollar

on

the

other.

Nymex

crude

futures

traded higher at USD 102.66/barrel while Dated Brent spot prices were down at USD 108.61/barrel. WTI Cushing spot prices were higher at USD 102.66/barrel.

Crude oil prices rose on June 9 on the back of strong export numbers emerging from China. The rise in prices was also a result of gains in US equity indices. Nymex crude futures traded higher at USD 104.41/barrel while Dated Brent spot prices were up at USD 109.99/barrel. WTI Cushing spot prices were higher at USD 104.41/barrel.

Crude oil prices fell on June 10 on the back of hopes of a peaceful resolution of the Ukraine crisis. The fall in prices was also a result of a rise in the value of the US dollar. Nymex crude

futures traded lower at USD 104.35/barrel while Dated Brent spot prices were down at USD 109.52/barrel. WTI Cushing spot prices were lower at USD 104.35/barrel.

Crude oil prices rose on June 11 on supply concerns on reports of violence in Iraq. The rise in prices was also a result of a decline in US crude oil stockpiles. Nymex crude futures traded

Crude Oil Summary

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higher at USD 104.40/barrel while Dated Brent spot prices were up at USD 109.95/barrel. WTI Cushing spot prices were higher at USD 104.40/barrel.

Crude oil prices rose on June 12 on the back of an escalation in violence in strife torn Iraq. The rise in prices was also a result of a decline in the value of the US dollar. Nymex crude futures traded higher at USD 106.53/barrel while Dated Brent spot prices were up at USD 113.02/barrel. WTI Cushing spot prices were higher at USD 106.53/barrel.

Crude oil prices rose on June 13 on reports of a spurt in violence in Iraq. Prices also climbed owing to gains in US equity indices. Nymex crude futures traded higher at USD 106.91/barrel while Dated Brent spot prices were up at USD 113.41/barrel. WTI Cushing spot prices were higher at USD 106.91/barrel.

Crude oil prices edged lower on June 16 on reports that the US may coordinate with Iran to counter the insurgency in Iraq. The fall in prices was also driven by a rise in the value of the US dollar. Nymex crude futures traded lower at USD 106.90/barrel while Dated Brent spot prices were down at USD 112.94/barrel. WTI Cushing spot prices were lower at USD 106.90/barrel.

Crude oil prices displayed a mixed undertone on June 17 on the back of reports that the US was in plans to station a small contingent of troops in Iraq one the hand and a lower forecast in Iraqi oil production growth by the IEA on the other. Nymex crude futures traded lower at USD 106.36/barrel while Dated Brent spot prices were up at USD 113.45/barrel. WTI Cushing spot prices were lower at USD 106.36/barrel.

Crude oil prices displayed a mixed undertone on June 18 on reports that the US Federal Reserve had trimmed its monthly bond purchases on the one hand and renewed violence in Iraq on the other. Nymex crude futures traded lower at USD 105.97/barrel while Dated Brent spot prices were up at USD 114.26/barrel. WTI Cushing spot prices were lower at USD 105.97/barrel.

Crude oil prices rose on June 19 owing to the continuing violence in Iraq. The gains in prices were also supported by a decline in the number of people seeking jobless benefits in the US. Nymex crude futures traded higher at USD 106.43/barrel while Dated Brent spot prices were up at USD 115.06/barrel. WTI Cushing spot prices were higher at USD 106.43/barrel.

Crude oil prices displayed a mixed undertone on June 20 on the back of a fall in the value of the US dollar on the one hand and on reports that US President Barack Obama is likely to send military advisers to Iraq on the other. Nymex crude futures traded higher at USD 107.26/barrel while Dated Brent spot prices were down at USD 114.81/barrel. WTI Cushing spot prices were higher at USD 107.26/barrel.

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Crude oil prices declined on June 23 owing to ebbing concerns over supply disruptions in Iraq. The fall in prices was also a result of a rise in the value of the US dollar. Nymex crude futures traded lower at USD 106.17/barrel while Dated Brent spot prices were down at USD 114.12/barrel. WTI Cushing spot prices were lower at USD 106.17/barrel.

Crude oil prices displayed a mixed undertone on June 24 owing to weak economic data emerging out of the eurozone on the one hand and continuing violence in Iraq on the other. Nymex crude futures traded lower at USD 106.03/barrel while Dated Brent spot prices were up at USD 114.46/barrel. WTI Cushing spot prices were lower at USD 106.03/barrel.

Crude oil prices displayed a mixed undertone on June 25 on hopes that the US government may relax a ban on crude oil exports in the future on the one hand and a rise in US fuel inventories on the other. Nymex crude futures traded higher at USD 106.50/barrel while Dated Brent spot

prices were down at USD 114.00/barrel. WTI Cushing spot prices were higher at USD 106.50/barrel.

Crude oil prices fell on June 26 on the back of reports that oil exports from Iraq is likely to increase. The fall in prices was also prompted by a decline in US equity indices. Nymex crude futures traded lower at USD 105.84/barrel while Dated Brent spot prices were down at USD 113.21/barrel. WTI Cushing spot prices were lower at USD 105.84/barrel.

Crude oil prices displayed a mixed undertone on June 27 on the back of a decline in US consumer spending on the one hand and a fall in the value of the US dollar on the other. Nymex crude futures traded lower at USD 105.74/barrel while Dated Brent spot prices were up at USD 113.30/barrel. WTI Cushing spot prices were lower at USD 105.74/barrel.

Crude oil prices declined on June 30 on reports that the fighting in Iraq has not spread to the oilproducing southern region of the country. The fall in prices was also prompted by a drop in US equity indices. Nymex crude futures traded lower at USD 105.37/barrel while Dated Brent spot prices were down at USD 112.36/barrel. WTI Cushing spot prices were lower at USD 105.37/barrel.

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Crude Oil Graphical Trend

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Nymex Crude Dated Brent WTI Cushing Y2014 Y2013 Y2014 Y2013 Y2014 Y2013

1Jun 2Jun 102.47 108.83 102.47 3Jun 102.66 93.45 108.82 102.01 102.66 93.45 4Jun 102.64 93.31 108.40 103.24 102.64 93.31 5Jun 102.48 93.74 108.79 103.04 102.48 93.74 6Jun 102.66 94.76 108.61 103.61 102.66 94.76 7Jun 96.03 104.56 96.03 8Jun 9Jun 104.41 109.99 104.41

10 Jun 104.35 95.77 109.52 103.95 104.35 95.77 11 Jun 104.40 95.38 109.95 102.96 104.40 95.38 12 Jun 106.53 95.88 113.02 103.49 106.53 95.88 13 Jun 106.91 96.69 113.41 104.25 106.91 96.69 14 Jun 97.85 105.93 97.85 15 Jun 16 Jun 106.90 112.94 106.90

17 Jun 106.36 97.77 113.45 105.47 106.36 97.77 18 Jun 105.97 98.44 114.26 106.02 105.97 98.44 19 Jun 106.43 98.24 115.06 106.12 106.43 98.24 20 Jun 107.26 95.40 114.81 102.15 107.26 95.40 21 Jun 93.69 100.91 93.69 22 Jun 23 Jun 106.17 114.12 106.17 24 Jun 106.03 95.18 114.46 101.16 106.03 95.18 25 Jun 106.50 95.32 114.00 101.26 106.50 95.32 26 Jun 105.84 95.50 113.21 101.66 105.84 95.50

27 Jun 105.74 97.05 113.30 102.82 105.74 97.05 28 Jun 96.56 102.16 96.56 29 Jun 30 Jun 105.37 112.36 105.37

Crude Oil Price Comparison

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Open spec

naphtha

bid

prices

on

June

2

for

the

2H

of

July

were

assessed

lower

at

the

USD

947.50/mt CFR Far East levels while the ask rate was at the USD 949.50/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were down at the USD 942.50/mt levels.

Open spec naphtha bid prices on June 3 for the 2H of July were assessed lower at the USD 940/mt CFR Far East levels while the ask rate was at the USD 942/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were up at the USD 942/mt levels.

Open spec naphtha bid prices on June 4 for the 2H of July were assessed at the USD 941/mt CFR Far East levels while the ask rate was at the USD 943/mt CFR Far East levels. The forward

naphtha market price indications for the 2H of July were down at the USD 938.50/mt levels.

Open spec naphtha bid prices on June 5 for the 2H of July were assessed at the USD 940/mt CFR Far East levels while the ask rate was at the USD 942/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were up at the USD 948/mt levels.

Open spec naphtha bid prices on June 6 for the 2H of July were assessed higher at the USD 951.50/mt CFR Far East levels while the ask rate was at the USD 954.50/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were down at the USD 947.50/mt levels.

Open spec naphtha bid prices on June 9 for the 2H of July were assessed higher at the USD 953.50/mt CFR Far East levels while the ask rate was at the USD 955.50/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were up at the USD 960/mt levels.

Open spec naphtha bid prices on June 10 for the 2H of July were assessed higher at the USD 960.50/mt CFR Far East levels while the ask rate was at the USD 962.50/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were down at the USD 958/mt levels.

Open spec naphtha bid prices on June 11 for the 2H of July were assessed higher at the USD 964/mt CFR Far East levels while the ask rate was at the USD 966/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were down at the USD 963.50/mt levels.

Naphtha Summary

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Open spec naphtha bid prices on June 12 for the 2H of July were assessed higher at the USD 966.50/mt CFR Far East levels while the ask rate was at the USD 968.50/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were up at the USD 984/mt levels.

Open spec naphtha bid prices on June 13 for the 2H of July were assessed higher at the USD 986/mt CFR Far East levels while the ask rate was at the USD 988/mt CFR Far East levels. The forward naphtha market price indications for the 2H of July were down at the USD 985.50/mt levels.

Open spec naphtha bid prices on June 16 for the 1H of Aug were assessed lower at the USD 974.50/mt CFR Far East levels while the ask rate was at the USD 976.50/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were up at the USD 981.50/mt

levels.

Open spec naphtha bid prices on June 17 for the 1H of Aug were assessed lower at the USD 971.50/mt CFR Far East levels while the ask rate was at the USD 973.50/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were up at the USD 979/mt levels.

Open spec naphtha bid prices on June 18 for the 1H of Aug were assessed higher at the USD 981.50/mt CFR Far East levels while the ask rate was at the USD 983.50/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were up at the USD 985.50/mt levels.

Open spec naphtha bid prices on June 19 for the 1H of Aug were assessed higher at the USD 984/mt CFR Far East levels while the ask rate was at the USD 986/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were up at the USD 989.50/mt levels.

Open spec naphtha bid prices on June 20 for the 1H of Aug were assessed higher at the USD 987/mt CFR Far East levels while the ask rate was at the USD 989/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were up at the USD 989/mt levels.

Open spec naphtha bid prices on June 23 for the 1H of Aug were assessed higher at the USD 993.50/mt CFR Far East levels while the ask rate was at the USD 995.50/mt CFR Far East levels. The forward naphtha market price indications for the 1H of Aug were down at the USD 983/mt levels.

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Naphtha Graphical Trend

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LLDPE prices gained in Asia during week 1. A spike in LLDPE futures on the Dalian Commodity Exchange in China supported sellers seeking to steer their offers higher. On June 6, CFR Far East Asia prices of LLDPE were assessed at the USD 1555/mt mark. CFR South East Asia prices were assessed higher at the USD 1590/mt mark, a gain of USD 5/mt from the previous week. CFR South Asia prices were assessed up at the USD 1620/mt levels, an increase of USD 10/mt from last week. In the domestic markets of China, LLDPE prices were assessed higher at the Yuan 11920/mt ex works levels. In India, PetroRabigh, Saudi Arabia has offered its LLDPE film grade at the USD 1640/mt levels, for shipment in end June 2014, on a CIF Nhava Sheva port basis. Equate has offered its LLDPE film grade at the USD 1630/mt levels, on a CIF Nhava Sheva port basis for shipment in June 2014. In China, a Middle Eastern producer has offered its LLDPE film at the USD 1550/mt CFR China levels.

LLDPE prices climbed in parts of Asia during week 2. Reports of improved demand trends in key markets like China supported the price gain. On June 13, CFR Far East Asia prices of LLDPE were assessed at the USD 1570/mt mark, a rise of USD 15/mt from last week. Middle Eastern producer offers were heard at the USD 1590/mt CFR China levels. CFR South Asia prices were assessed higher at the USD 1625/mt levels, a rise of USD 5/mt from the previous week. CFR

South East Asia prices were assessed down at the USD 1585/mt mark, a fall of USD 5/mt from last week. Prices declined on the back of weaker upstream ethylene values and dull buying sentiments in the region. In the domestic markets of China, LLDPE prices were assessed up at the Yuan 12070/mt ex works levels.

LLDPE prices declined in Asia during week 3. On June 20, CFR Far East Asia prices of LLDPE were assessed at the USD 1560/mt mark, a drop of USD 10/mt from the previous week. CFR South East Asia prices were assessed lower at the USD 1575/mt mark, a fall of USD 10/mt from last week. The price fall was triggered by dull buying pulse witnessed in the region. CFR South Asia prices were assessed up at the USD 1630/mt levels, a rise of USD 5/mt from the previous week.

In the

domestic

markets

of

China,

LLDPE

prices

were

assessed

steady

at

the

Yuan

12070/mt

ex

works levels. In plant news, PTT Global Chemical is in plans to shut its 400,000 mt/year LLDPE plant, located at Map Ta Phut, Thailand, in mid July 2014 for maintenance turnaround. The plant is likely to remain off stream for around 21 days.

A. Polymers A.1 LLDPE Summary

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LLDPE prices finished higher in Asia during week 4. Gains came on the back of a combination of bullish triggers including firmer energy prices, a rise in naphtha values, a lift in demand trends and a sharp climb in ethylene feedstock prices in Asia. On June 27, CFR Far East Asia prices of LLDPE were assessed at the USD 1575/mt mark, an increase of USD 15/mt from last week. CFR South East Asia prices were assessed higher at the USD 1590/mt mark, a gain of USD 15/mt from the previous week. CFR South Asia prices were assessed up at the USD 1635/mt levels, a rise of USD 5/mt from last week. In the domestic markets of China, LLDPE prices were assessed higher at the Yuan 12220/mt ex works levels. In India, a Middle Eastern producer has offered its LLDPE film grade at the USD 1630 1640/mt levels, on a CIF Nhava Sheva port basis, for shipment in end July 2014. In Pakistan, Sabic, Saudi Arabia is heard to have offered its LLDPE film grade at the USD 1640/mt CFR levels, for shipment in end July / early August 2014, on a CNF Karachi port basis.

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A1 (a) Polymers Average weekly price of LLDPE Film @ CIF India Basis for June 2014 (USD/Tonne)

Grade Market W4 W3 W2 W1 Jun

14 May

14 Apr14

Mar 14

Film South Korea 1613 1610 1610 1610 1611 1605

1585 1590

Singapore 1623 1620 1620 1620 1621 1615 1595 1600 Thailand 1614 1610 1610 1610 1611 1605 1585 1590

Saudi Arabia 1614 1610 1610 1610 1611 1599 1555 1560

Kuwait 1614 1610 1610 1610 1611 1599 1555 1560

A.1 LLDPE Price Chart & Graphical Trend

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A1 (b) Polymers Average weekly price of LLDPE Roto Moulding @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Roto Moulding South Korea 1634 1630 1630 1630 1631 1611 1592

1610

Saudi Arabia 1634 1630 1630 1630 1631 1619 1592

1610

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A1 (c) Polymers Average weekly price of LLDPE Injection @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Injection Moulding South Korea 1634 1630 1630 1630 1631 1625

1621 1630


Saudi Arabia 1644 1640 1640 1640 1641 1629

1601 1610

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Price Movement of LLDPE CIF India basis during March 2014 to June 2014 (USD/Tonne)

Grade Market Jun14 Last

4 months (Mar 14 Jun 14)

High Low High Low Film

South Korea 1630 1610 1630 1590

Singapore 1640 1620 1640 1600 Thailand 1640 1610 1640 1590 Saudi Arabia 1640 1610 1640 1560

Kuwait 1640 1610 1640 1560 Roto Moulding

South Korea 1660 1630 1660 1590

Saudi Arabia 1660 1630 1660 1590

Injection Moulding South Korea 1660 1630 1660 1620

Singapore 1660 1630 1660 1620 Thailand 1650 1620 1650 1610 Saudi Arabia 1670 1640 1670 1600

Metallocene Singapore 1780 1780 1830 1770

A.1 LLDPE Price Movement

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Plant Update of LLDPE for June 2014

Company Location Product Capacity Schedule Remarks

LLDPE PTT Global Chemical (PTTGC)

Map Ta Phut, Thailand LLDPE

400,000 mt/yr

MidJul 2014 Maintenance turnaround (3 Weeks)

Shenhua Baotou Coal

Chemical

Shenhua, China LLDPE/HDPE

300,000 mt/year

Jul14 Maintenance Turnaround (1 Month)

Lotte Chemical Titan

Merak, Indonesia LLDPE

450,000 mt/yr

25 Jun 14 The plant was taken off stream

owing to technical issues

(15 20 days)

A.1 LLDPE Plan t Update

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LDPE prices inched lower in parts of Asia during week 1. CFR Far East Asia prices of LDPE were assessed down at the USD 1560/mt mark, a fall of USD 5/mt from the previous week. The price fall was on the back of lackluster buying interest in the region. CFR South East Asia prices of LDPE were assessed steady fr4om last week at the USD 1600/mt mark. Offers were heard at the USD 1620/mt CFR South East Asia levels. In China, domestic rates of LDPE were assessed higher at the Yuan 12070/mt ex works levels. In India, Sabic, Saudi Arabia has offered LDPE film grade at the USD 1660/mt levels, on a CIF Nhava Sheva port basis, for shipment in end June/early July 2014. In China, a Malaysian producer has offered LDPE film grade at the USD 1570/mt CFR China levels.

LDPE prices

were

assessed

mixed

in

Asia

during

week

2.

On

June

13,

CFR

Far

East

Asia

prices

of

LDPE were assessed up at the USD 1590/mt mark, a sharp gain of USD 25/mt from last week. Strong buying interest in key markets like China supported the sharp price rise in the region. CFR South East Asia prices of LDPE were assessed lower at the USD 1580/mt mark, a fall of USD 20/mt from the previous week. Reports of sluggish demand sentiments coupled with weaker upstream ethylene values, together pressured prices lower in the region. In China, domestic rates of LDPE were assessed up at the Yuan 12520/mt ex works levels. Demand trends were reported as being bullish in the domestic markets of China.

LDPE prices firmed in parts of Asia during week 3. On June 20, CFR Far East Asia prices of LDPE were assessed at the USD 1610/mt mark, a sharp increase of USD 20/mt from the previous

week. Prices firmed mainly on account of constrained product availability and improved demand trends in the region. CFR South East Asia prices of LDPE were assessed lower at the USD 1560/mt mark, a fall of USD 20/mt from last week. Reports of weak buying sentiments and bearish feedstock ethylene rates, together pushed prices lower in the region. In China, domestic rates of LDPE were assessed up at the Yuan 12820/mt ex works levels. Buying sentiments were reported as strong in the domestic markets of China.

LDPE prices marched higher in parts of Asia during week 4. CFR South East Asia prices of LDPE were assessed up at the USD 1590/mt mark, a sharp increase of USD 30/mt from the previous week. Prices firmed in anticipation of tight product avails in the region, going forward. Buying

trends however

remains

sluggish

in

the

region

ahead

of

the

holy

Muslim

month

of

Ramadan.

On June 27, CFR Far East Asia prices of LDPE were assessed at the USD 1600/mt mark, a drop of USD 10/mt from last week. In China, domestic rates of LDPE were assessed lower at the Yuan 12520/mt ex works levels. In Pakistan, Sabic, Saudi Arabia is heard to have offered its LDPE film grade at the USD 1650/mt CFR levels, for shipment in end July / early August 2014, on a CNF Karachi port basis.

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A2 (a)

Polymers

Average

weekly

price

of

LDPE

General

Purpose

@ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

General Purpose South Korea 1661 1660 1660 1660 1660 1660

1644 1656


Qatar

1671 1670 1670 1670 1670 1670

1624

1636

A.2 LDPE Price Chart & Graphical Trend

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A2 (b) Polymers Average weekly price of LDPE Heavy Duty @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Heavy Duty South Korea 1661 1660 1660 1660 1660 1660

1644 1656

Singapore 1671 1670 1670 1670 1670 1670 1654 1666 Thailand 1671 1670 1670 1670 1670 1670 1654 1666 Qatar 1671 1670 1670 1670 1670 1670 1624 1636

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A2 (c) Polymers Average weekly price of LDPE Milk Pouch @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Milk Pouch South Korea 1661 1660 1660 1660 1660 1660

1644 1656

Singapore 1671 1670 1670 1670 1670 1670 1654 1666 Thailand 1671 1670 1670 1670 1670 1670 1654 1666 Qatar 1671 1670 1670 1670 1670 1670 1624 1636

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A2 (d) Polymers Average weekly price of LDPE Injection Moulding @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14


1664 1676


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Price Movement of LDPE CIF India basis during March 2014 to June 2014 (USD/Tonne)



High Low High Low General Purpose

South Korea 1670 1660 1670 1640

Singapore 1680 1670 1680 1650 Thailand 1680 1670 1680 1650 Qatar 1680 1670 1680 1620

Heavy Duty South Korea 1670 1660 1670 1640


Milk Pouch South Korea 1670 1660 1670 1640


Injection Moulding South Korea 1690 1680 1690 1660

Singapore 1700 1690 1700 1660 Thailand 1700 1690 1700 1670

Lamination Qatar 1810 1810 1880 1810

A.2 LDPE Price Movement

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Plant Update of LDPE for June 2014


LDPE

Petronas Chemicals

Group (PCG)

Kerteh, Malaysia PE

240,000 mt/yr 16

Jun 14

Restarted. It was shut for a

maintenance turnaround.

SABIC Wilton, UK Cracker

865,000

mt/yr 1st Week of July

Restarted. The

plant was shut in early May 2014

for a maintenance turnaround.

LDPE 400,000 mt/yr

A.2 LDPE Plant Update

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HDPE prices

climbed

in

parts

of

Asia

during

week

1.

In

Far

East

Asia,

prices

of

HDPE

film

on

June

6 were assessed at the USD 1570/mt levels, a rise of USD 5/mt. HDPE yarn prices were up at the USD 1590/mt levels, a gain of USD 10/mt from the previous week. HDPE injection moulding prices were assessed flat from last week at the USD 1500/mt levels. HDPE blow moulding prices were assessed lower at the USD 1505/mt CFR levels. In South East Asia, prices of HDPE film were assessed stable at the USD 1590/mt levels. HDPE injection prices were flat at the USD 1555/mt levels. HDPE BM prices were unchanged at the USD 1560/mt levels while HDPE yarn prices were assessed steady at the USD 1590/mt levels. In South Asia, prices of HDPE injection and HDPE BM were assessed up at the USD 1580/mt levels, a rise of USD 15/mt from the previous week. HDPE film prices were assessed higher at the USD 1590/mt CFR South Asia levels. Reports of steady regional demand trends supported the price gain. In China, local prices of HDPE film were steady at the Yuan 12020/mt ex works levels. In India, PetroRabigh, Saudi Arabia has offered its HDPE film grade at the USD 1620/mt levels, for shipment in end June 2014, on a CIF Nhava Sheva port basis. Equate has offered its HDPE film grade at the USD 1580/mt levels, on a CIF Nhava Sheva port basis for shipment in June 2014. In plant news, Petronas has restarted its 250,000 mt/year HDPE plant, located at Kertih, Malaysia. It was shut for a maintenance turnaround in early April 2014.

HDPE prices were assessed mixed in Asia during week 2. In Far East Asia, prices of HDPE film prices on June 13 were assessed higher at the USD 1600/mt levels, a gain of USD 30/mt from the previous week. HDPE yarn prices were up at the USD 1600/mt levels, a rise of USD 10/mt

from last week. HDPE injection moulding prices were assessed higher at the USD 1520/mt levels, a sharp increase of USD 20/mt from the previous week. HDPE blow moulding prices were assessed up at the USD 1520/mt CFR levels. Prices gained on the back of a lift in buying interest in the region. In South East Asia, prices of HDPE film were assessed lower at the USD 1585/mt levels, a decline of USD 5/mt from the previous week. HDPE injection prices were flat at the USD 1555/mt levels. HDPE BM prices were unchanged from last week at the USD 1560/mt levels. HDPE yarn prices were assessed up at the USD 1600/mt levels. In South Asia, prices of HDPE injection and HDPE BM were assessed down at the USD 1570/mt levels, a fall of USD 10/mt from the previous week. HDPE film prices were assessed steady at the USD 1590/mt CFR South Asia levels. Reports of soft buying trends supported the price fall in the region. In China, local prices of HDPE film were up at the Yuan 12120/mt ex works levels.

HDPE prices were assessed mixed in Asia during week 3. In Far East Asia, prices of HDPE film prices on June 20 were assessed at the USD 1600/mt levels. HDPE yarn prices were up at the USD 1615/mt levels, a rise of USD 15/mt from the previous week. HDPE injection moulding prices were assessed higher at the USD 1530/mt levels, a gain of USD 10/mt from last week.

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HDPE blow moulding prices were assessed up at the USD 1540/mt CFR levels. Reports of improved buying sentiments supported the price rise in the region. In South East Asia, prices of HDPE film were assessed lower at the USD 1580/mt levels, a decline of USD 5/mt from the previous week. HDPE injection prices were lower at the USD 1550/mt levels. HDPE BM prices were down at the USD 1550/mt levels. HDPE yarn prices were assessed lower at the USD 1595/mt levels. The price fall was on the back of dull demand trends coupled with weaker upstream ethylene values. In South Asia, prices of HDPE injection and HDPE BM were assessed flat at the USD 1570/mt levels. HDPE film prices were assessed up at the USD 1595/mt CFR South Asia levels. Buying activity was reported as dull in the region. In China, local prices of HDPE film were up at the Yuan 12220/mt ex works levels. In China, a Taiwanese producer is heard to have offered its HDPE film grade at the USD 1625/mt CFR levels. Deals were heard done at the USD 1610/mt CFR China levels. In plant news, PTT Global Chemical is in plans to shut its 300,000 mt/year HDPE plant, located at Map Ta Phut, Thailand, for maintenance

turnaround. The plant is likely to remain off stream for around two weeks.

HDPE prices were assessed mixed in Asia during week 4. In Far East Asia, prices of HDPE film on June 27 were assessed at the USD 1595/mt levels, a fall of USD 5/mt from last week. HDPE yarn prices were up at the USD 1620/mt levels, a rise of USD 5/mt from the previous week. HDPE injection moulding prices were assessed unchanged at the USD 1530/mt levels. HDPE blow moulding prices were assessed steady at the USD 1540/mt CFR levels. Demand trends were weak in key markets like China. In South East Asia, prices of HDPE film were assessed higher at the USD 1600/mt levels, a rise of USD 20/mt from the previous week. HDPE injection prices were up at the USD 1570/mt levels. HDPE BM prices were unchanged at the USD 1550/mt levels. HDPE yarn prices were assessed higher at the USD 1600/mt levels. Buying activity however remains dull in the region ahead of the holy Muslim month of Ramadan. In South Asia, prices of HDPE injection and HDPE BM were assessed flat at the USD 1570/mt levels. HDPE film prices were assessed stable at the USD 1595/mt CFR South Asia levels. Buying trends were reported as soft in the region. In China, local prices of HDPE film were steady at the Yuan 12220/mt ex works levels. In India, a Middle Eastern producer has offered its HDPE film grade at the USD 1610/mt levels, on a CIF Nhava Sheva port basis, for shipment in end July 2014. In Pakistan, Sabic, Saudi Arabia is heard to have offered its HDPE film grade at the USD 1620/mt CFR levels, for shipment in end July / early August 2014, on a CNF Karachi port basis.

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A3 (a) Polymers Average weekly price of HDPE Raffia @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Raffia South Korea 1636 1630 1630 1630 1632 1621

1588 1590

Thailand 1626 1620 1620 1620 1622 1611 1578 1580

A.3 HDPE Price Chart & Graphical Trend

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A3 (c) Polymers Average weekly price of HDPE Injection Moulding @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14


1576 1580


Saudi Arabia 1597 1590 1590 1590 1592 1581

1556 1560

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A3 (d) Polymers Average weekly price of HDPE Blow Moulding @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Blow Moulding South Korea 1587 1580 1580 1580 1582 1580

1558 1560


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Price Movement of HDPE CIF India basis during March 2014 to June 2014 (USD/Tonne)



High Low High Low Raffia

South Korea 1670 1630 1670 1580 Thailand 1660 1620 1660 1570

Film South Korea 1650 1610 1650 1560 Singapore 1640 1600 1640 1550 Thailand 1650 1610 1650 1560 Saudi Arabia 1620 1580 1620 1530 Kuwait 1620 1580 1620 1530

Injection Moulding South Korea 1650 1610 1650 1570 Singapore 1640 1600 1640 1560 Thailand 1660 1620 1660 1580 Saudi Arabia 1640 1590 1640 1550

Blow Moulding South Korea 1630 1580 1630 1550 Singapore 1630 1590 1630 1560 Thailand 1630 1590 1630 1560

Pipe South Korea 1650 1610 1650 1580

HMHD South Korea 1680 1640 1680 1610 Singapore 1670 1630 1670 1600

A.3 HDPE Price Movement

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Plant Update of HDPE for June 2014


HDPE

PTT Global Chemical

Map Ta Phut,

Thailand HDPE 300,000

mt/yr

MidJune 2014 Maintenance

Turnaround

(2 Weeks)

Shanghai Petrochemical

Shanghai, China HDPE

250,000 mt/yr 17

Jun 14

The shutdown has been attributed to an accident at the

plant PTT Global Chemical (PTTGC)

Map Ta Phut,

Thailand HDPE 300,000

mt/yr

End of 3rd week of June Maintenance

turnaround

(2 Weeks)

A.3 HDPE Plant Update

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Polypropylene (PP)

prices

inched

lower

in

Asia

during

week

1.

The

price

fall

was

attributed

to

a

lack of buying interest in the region and weaker upstream propylene values. On June 6, CFR Far East Asia prices of PP raffia and PP injection were assessed at the USD 1505/mt levels. BOPP prices were assessed steady at the USD 1520/mt levels. PP film prices were unchanged at the USD 1525/mt levels. PP block copolymer were assessed down at the USD 1570/mt levels, a drop of USD 10/mt from last week. CFR South East Asia, PP raffia and PP injection prices were assessed lower at the USD 1545/mt, a fall of USD 5/mt from the previous week. PP film prices were at the USD 1565/mt levels while prices of BOPP were assessed at the USD 1565/mt levels, both down USD 5/mt from last week. PP block copolymer prices were assessed steady at the USD 1600/mt levels. In South Asia, prices PP raffia and PP injection prices were assessed unchanged at the USD 1540/mt levels. PP film prices were assessed stable at the USD 1565/mt levels. BOPP prices were assessed steady the USD 1565/mt levels. PP block copolymer prices were assessed up at the USD 1620/mt levels. In the domestic markets of China, PP prices were assessed higher at the Yuan 11620/mt ex works levels. In India, PetroRabigh, Saudi Arabia has offered its PP raffia grade at the USD 1570/mt levels. PP impact copolymer grade has been offered at the USD 1630/mt levels, for June 2014 shipment, on a CIF Nhava Sheva port basis. In Pakistan, Tasnee, Saudi Arabia has offered its PP raffia and PP injection grades at the USD 1560 1570/mt levels. These offers are for end June 2014 shipment, on a CNF Karachi port basis. In plant news, Lotte Chemical Titan has resumed production at its 240,000 mt/year PP plant, located in Pasir Gudang, Malaysia. The plant restarted on May 29, 2014. It was shut mid May 2014 for maintenance turnaround.

Polypropylene (PP) prices were assessed mixed in Asia during week 2. On June 13, CFR Far East Asia prices of PP raffia and PP injection were assessed flat from last week at the USD 1505/mt levels. BOPP prices were assessed steady at the USD 1520/mt levels. PP film prices were down at the USD 1520/mt levels, a fall of USD 5/mt from last week. PP block copolymer were assessed up at the USD 1580/mt levels, a week on week rise of USD 10/mt. CFR South East Asia, PP raffia and PP injection prices were assessed steady from last week at the USD 1545/mt. PP film prices were up at the USD 1575/mt levels, a gain of USD 10/mt from the previous week. Prices of BOPP were assessed lower at the USD 1555/mt levels, down USD 10/mt from last week. PP block copolymer prices were assessed steady at the USD 1600/mt levels. In South Asia, prices PP raffia and PP injection prices were assessed unchanged from the previous week at the USD 1540/mt levels. PP film prices were assessed higher at the USD 1580/mt levels. BOPP prices were assessed steady the USD 1565/mt levels. PP block copolymer prices were assessed down at the USD 1610/mt levels. In the domestic markets of China, PP prices were assessed up at the Yuan 11820/mt ex works levels.

A.4 PP Summary

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Polypropylene (PP) prices were assessed mixed in Asia during week 3. On June 20, CFR Far East Asia prices of PP raffia and PP injection were assessed at the USD 1505/mt levels. BOPP prices were assessed higher at the USD 1530/mt levels. PP film prices were up at the USD 1530/mt levels, a rise of USD 10/mt from the previous week. PP block copolymer were assessed steady at the USD 1580/mt levels. The price rise was a result of firmer feedstock propylene values coupled with improved demand trends witnessed in key markets like China. CFR South East Asia, PP raffia and PP injection prices were assessed down at the USD 1540/mt, a fall of USD 5/mt from last week. PP film prices were lower at the USD 1555/mt levels, a week on week sharp drop of USD 20/mt. Prices of BOPP were assessed lower at the USD 1550/mt levels, down USD 5/mt on the week. PP block copolymer prices were assessed steady at the USD 1600/mt levels. Prices dropped on the back of softer buying interest in the region. In South Asia, prices PP raffia and PP injection prices were assessed up at the USD 1550/mt levels. PP film prices were assessed steady at the USD 1580/mt levels. BOPP prices were assessed higher the USD

1575/mt levels. PP block copolymer prices were assessed down at the USD 1600/mt levels. In the domestic markets of China, PP prices were assessed stable at the Yuan 11820/mt ex works levels. In India, LyondellBasell, Saudi Arabia is heard to have offered its PP raffia and PP injection grades at the USD 1560/mt levels while PP film grade has been offered at the USD 1590/mt levels. These offers are for July shipment, on a CIF Nhava Sheva port basis. In Pakistan, Natpet, Saudi Arabia has offered its PP raffia and PP injection grades at the USD 1560/mt levels, for shipment in end July/early August 2014, on a CNF Karachi port basis.

Polypropylene (PP) prices finished higher in parts of Asia during week 4. The price rise was on the back of firmer upstream crude, naphtha and propylene values. On June 27, CFR Far East Asia prices of PP raffia and PP injection were assessed at the USD 1510/mt levels. BOPP prices were assessed unchanged at the USD 1530/mt levels. PP film prices were flat from last week at the USD 1530/mt levels. PP block copolymer were assessed up at the USD 1590/mt levels. CFR South East Asia, PP raffia and PP injection prices were assessed up at the USD 1550/mt, a rise of USD 10/mt from the previous week. PP film prices were higher at the USD 1565/mt levels, a gain of USD 10/mt from last week. Prices of BOPP were assessed higher at the USD 1565/mt levels, up USD 15/mt on the week. PP block copolymer prices were assessed up at the USD 1610/mt levels. In South Asia, prices of PP raffia and PP injection were assessed up at the USD 1560/mt levels. PP film prices were assessed higher at the USD 1590/mt levels. BOPP prices were assessed up the USD 1585/mt levels. PP block copolymer prices were assessed higher at the USD 1615/mt levels. In the domestic markets of China, PP prices were assessed lower at the

Yuan 11620/mt ex works levels.

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A4

(a)

Polymers

Average

weekly

price

of

PP

Raffia

@

CIF

India

Basis

for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Raffia South Korea 1565 1563 1555 1555 1560 1544

1535 1553


Saudi Arabia 1550 1548 1540 1540 1545 1529 1520 1538

A.4 PP Price Chart & Graphical Trend

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A4 (b) Polymers Average weekly price of PP Injection Moulding @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14


1535 1553


Saudi Arabia 1550 1548 1540 1540 1545 1529

1520 1538

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A4 (c) Polymers Average weekly price of PP TQ Film @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

TQ Film South Korea 1595 1593 1585 1585 1590 1574

1565 1583


Saudi Arabia 1590 1588 1580 1580 1585 1569

1560 1578

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A4 (d) Polymers Average weekly price of PP Block Copolymer @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Block Copolymer South Korea 1620 1618 1610 1610 1615 1608

1600 1600


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A4 (f) Polymers Average weekly price of PP BOPP @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

BOPP Homopolymer South Korea 1590 1588 1580 1580 1585 1569

1560 1575


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Price Movement

of

PP

CIF

India

basis

during

March 2014 to June 2014 (USD/Tonne)



High Low High Low Raffia

South Korea 1565 1555 1565 1535 Singapore 1565 1555 1565 1535 Thailand 1565 1555 1565 1535

Saudi Arabia 1550 1540 1550 1520 Injection Moulding

South Korea 1565 1555 1565 1535 Singapore 1565 1555 1565 1535 Thailand 1565 1555 1565 1535 Saudi Arabia 1550 1540 1550 1520

TQ Film South Korea 1595 1585 1595 1565 Singapore 1595 1585 1595 1565 Thailand 1595 1585 1595 1565 Saudi Arabia 1590 1580 1590 1560

Block Copolymer South Korea 1620 1610 1620 1600 Singapore 1610 1600 1610 1590 Thailand 1610 1600 1610 1590

Random Copolymer South Korea 1685 1675 1685 1665 Singapore 1685 1675 1685 1665 Thailand 1685 1675 1685 1665

BOPP South Korea 1590 1580 1590 1560 Singapore 1590 1580 1590 1560 Thailand 1600 1590 1600 1570

A.4 PP Pr ice Movement A.4 PP Pr ice Movement

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Plant Update of PP for June 2014 Company Location Product Capacity Schedule Remarks

PP

SABIC Europe Geleen, The

Netherlands PP 600,000

mt/yr

3rd Week of June Maintenance

turnaround

(2 Weeks) Oman Oil

refineries and Petroleum

Industries

Company (Orpic)

Sohar, Oman PP 350,000

mt/yr

End June Early July

2014 Maintenance

turnaround

(1 Month)

Sibur Tobolsk,

Russia PP 500,000

mt/yr Early July

2014 Maintenance turnaround

Zhenhai Refining & Chemical

(ZRCC)

Zhejiang province,

China PP 200,000

mt/yr

Early 3rd week of June

Maintenance turnaround

HMC Polymers Rayong, Thailand

PP 750,000

mt/year 3rd Week of

June Maintenance turnaround (3 Plants) (Combined

capacity) (1 Month)

Total Petrochemicals

Feluy, Belgium PP

900,000 mt/yr 26

Jun 14

Declared a force majeure on

supplies from one of three

polypropylene (PP) lines.

A.4 PP Plant Update

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PVC prices

edged

up

in

South

East

Asia

during

week

1.

CFR

South

East

Asia

prices

of

PVC

were

assessed up at the USD 1040/mt levels, a rise of USD 5/mt from the previous week. Reports of limited product avails pushed prices higher in the region. Offers were heard at the USD 1070/mt CFR South East Asia levels. CFR China prices of PVC were assessed steady at the USD 1050/mt levels. Buyer resistance was seen building at higher price levels. In China, domestic prices of ethylene based PVC were assessed down at the Yuan 6960/mt levels while carbide based PVC were lower at the Yuan 6035/mt levels. Prices dropped on the back of sluggish demand trends in the domestic markets. In India, a major South Korean producer has offered its PVC resin suspension grade at the USD 1150/mt levels, for shipment in end June 2014, on a CIF Nhava Sheva port basis.

PVC prices inched lower in Asia during week 2. A week on week fall in upstream ethylene values coupled with softer buying pulse pushed prices lower in the region. CFR South East Asia prices of PVC were assessed down at the USD 1035/mt levels, a drop of USD 5/mt from the previous week. CFR China prices of PVC were assessed lower at the USD 1045/mt levels, a fall of USD 5/mt from last week. In China, domestic prices of ethylene based PVC were assessed up at the Yuan 7010/mt levels while carbide based PVC were at the Yuan 6035/mt levels. In China, Formosa, Taiwan has offered its PVC resin suspension grade at the USD 1070/mt CFR levels.

Despite weaker upstream ethylene values, PVC prices climbed in Asia during week 3. CFR China prices of PVC were assessed up at the USD 1050/mt levels, a gain of USD 5/mt from last week.

Reports of

a lift

in

buying

activity

in

the

region

supported

the

price

rise.

CFR

South

East

Asia

prices of PVC were assessed higher at the USD 1050/mt levels, a rise of USD 15/mt from the previous week. Prices climbed on the back of reports of constrained product availability in the region. In China, domestic prices of ethylene based PVC were assessed steady at the Yuan 7010/mt levels while carbide based PVC were flat at the Yuan 6035/mt levels. In India, a major South Korean producer is heard to offered its PVC resin suspension grade at the USD 1135/mt levels, for shipment in July 2014, on a CIF Nhava Sheva port basis.

PVC prices declined in Asia during week 4. The price fall was attributed to poor demand trends across Asia. CFR China prices of PVC were assessed down at the USD 1045/mt levels, a fall of USD 5/mt from last week. CFR South East Asia prices of PVC were assessed lower at the USD 1045/mt levels, a drop of USD 5/mt from the previous week. In China, domestic prices of ethylene based PVC were assessed up at the Yuan 7060/mt levels while carbide based PVC were higher at the Yuan 6060/mt levels. In India, Ocean Plastic Co, Taiwan is heard to offered its PVC resin suspension grade at the USD 1120/mt levels (+Anti Dumping Duty), for shipment in end July 2014, on a CIF Nhava Sheva port basis. CGPC, Taiwan has concluded few deals for PVC

A.5 Polyvinyl Chloride (PVC) Summary

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resin at the USD 1090/mt levels (+Anti Dumping Duty), on a CIF Nhava Sheva port basis, for shipment in end July 2014. A major South African producer has offered its PVC resin suspension grade at the USD 1120/mt levels (+Anti Dumping Duty), for July shipment, on a CIF Nhava Sheva port basis.

A5 (a) Polymers Average weekly price of PVC Suspension @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Suspension South Korea 1121 1140 1140 1140 1135 1098 1064

1070

Thailand 1120 1120 1100 1100 1110 1091 1080 1080 Taiwan 1120 1120 1117 1100 1114 1080 1061 1070

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

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A5 (b) Polymers Average weekly price of PVC Emulsion @ CIF India Basis for June 2014 (USD/Tonne)


14 May

14 Apr14

Mar 14

Emulsion South Korea 1310 1310 1310 1310 1310 1290 1283

1298

Taiwan 1300 1300 1300 1300 1300 1280 1273 1288

Price Movement of PVC CIF India basis during March 2014 to June 2014 (USD/Tonne)

Grade Market Jun14 Last 4 months (Mar 14

Jun 14) High Low High Low

Suspension South Korea 1140 1120 1140 1050

Thailand 1120 1100 1120 1080 Taiwan 1120 1100 1120 1040

Emulsion South Korea 1310 1310 1310 1280

Taiwan 1300 1300 1300 1270

A.5 - Polyvinyl Chl or ide (PVC) Price Movement

MR-30062014-000000.pdf

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