Resin Pricing-Asia

China's polymer imports posted a noticeable rise from January to February 2012 according to the pricing service ChemOrbis, which analyzed data from Chinese Customs. The increase made up for a steep drop recorded from December 2011 to January 2012, which was impacted in part by the weeklong Chinese New Year holidays that took place in January rather than February this year.
 

Spot resin prices were lower last week amidst very good trading activity, according to spot-trading platform, The Plastics Exchange (TPE). March polypropylene (PP) contracts were up $0.05/lb bringing the 2-month total to $0.215/lb, with the price hikes described as being strictly cost-push while demand has wavered. After securing half the $0.06/lb price increase in February, polyethylene (PE) producers have mostly sought to implement the balance of the increase in March.

Polypropylene (PP) prices edged higher last week in Asia, rising as demand sentiments lifted. Gains in crude and naphtha rates coupled with firmer feedstock propylene also supported the rise in spot PP values, according to Polymerupdate. PP injection molding prices were assessed up at $1430/tonne CFR Far East Asia, while CFR South East Asia prices were assessed up at $1450/tonne.

Polypropylene (PP) prices climbed in Asia last week, rising on strength in upstream propylene, according to Polymerupdate. A series of planned regional plant turnarounds helped the buying mood lift as players anticipated a market environment in which product supplies would tighten, with high naphtha costs helping support the increase. On Friday, March 9, propylene prices were assessed up at $1370/tonne FOB Korea in the feedstock markets.

Polypropylene (PP) prices firmed in Asia last week, on the back of bullish crude and naphtha values coupled with week-on-week gains in propylene, according to Polymerupdate. The startup of cracker turnaround season across Asia is expected to trigger a climb in regional prices of olefins while tightening spot availability. PP raffia and injection molding prices rose to $1390/tonne CFR Far East Asia, a week-on-week rise of $20/tonne.

Polypropylene (PP) prices in Asia slid last week due to sluggish regional buying trends and a decrease in feedstock propylene values, according to Polymerupdate. On Feb. 23, Asian propylene was assessed at $1330/tonne FOB Korea, down sharply. In the downstream PP markets, PP injection and raffia prices fell to $1370/tonne CFR Far East Asia, a week-on-week slide of about $20/tonne. PP sellers polled by Polymerupdate confirmed that buying pulse had failed to lift despite the price decline.

Polypropylene (PP) prices adjusted downwards in Asia last week, slipping as the buying momentum in key markets like China was not as robust as had been anticipated, according to Polymerupdate. Also supporting the price slip was a steep drop in propylene values, which dropped to $1360/tonne FOB Korea on Thursday. PP injection and raffia prices dropped to $1380/tonne CFR Far East Asia, down $20/tonne on the week.

Polypropylene prices in Asia moved higher with key feedstock propylene firm at the $1395/tonne FOB Korea levels, and Chinese demand beginning to slowly return following the New Year's holiday. Polymerupdate also noted that with naphtha prices strong in Asia, PP sellers were successful in driving their spot offer prices higher last week.

In the roadmap for managing resins prices, I explained that risk management is a process whose purpose is to help achieve strategic and economic objectives (e.g. price certainty, increased utilization rates, hoped-for profit margins, etc.) Hedging is part of the process, and hedges should be executed after the objectives and a risk management policy are established.

Polypropylene (PP) prices in Asia last week were hammered lower, dropping due to muted regional buying, plentiful availability and softer feedstock costs, according to Polymerupdate. CFR Far East Asia prices of PP injection and raffia fell to $1255/tonne, a steep tumble of more than $60/tonne on the week. In South East Asia, prices of PP injection and PP raffia were assessed down at $1260/tonne CFR while CFR South Asia prices were assessed down at $1330/tonne.