No fixed date for PrefChem olefins production
Haldia Petrochemical monitors Cyclone Fani
The Asian butadiene market remained quiet Friday, with no price changes heard as trading activity was muted in the region amid Chinese and Japanese holidays. Sellers and buyers noted a dearth of activity, and reported stable expectations for the week. In Southeast Asia, there were no fresh updates from Malaysia’s Prefchem, according to a company source, following an explosion at its plant earlier in April. The incident disrupted its targeted production plans for ethylene and in turn, butadiene. “We don’t have a certain date yet,” the source said. In India, sources based in the eastern part of the country were closely monitoring the progress of Cyclone Fani, which could target states such as Haldia by Saturday, according to local weather reports. There are currently no changes to plant operations, and the company would be monitoring the situation, according to a Haldia Petrochemical source.
The CFR China marker was assessed flat at $955/mt Friday, as China remained closed for holidays. The CFR Northeast Asia marker was flat at $955/mt Friday, amid a quiet market across North Asia. The FOB Korea marker was flat at $905/mt, amid an absence of trading activity. The domestic China marker was assessed flat at Yuan 7,600/ mt ex-tank East China, amid China’s holiday. The CFR Taiwan marker was flat on week at $955/mt, following stable trading indications and the CFR Southeast Asia marker was stable on week at $905/mt amid thin trade.
PVC Chemical Industry
May price talks mostly completed
Mixed outlook on fresh June offers
Asian PVC was stable Friday from last Friday. Trading activities were thin this week due to early May holiday season in Northeast Asia, while most May price discussions have been completed. On Friday, PVC futures increased with September PVC futures on China’s Dalian Commodity Exchange rising Yuan 120/mt day on day to close at Yuan 7,045/mt Friday. But the domestic physical market in China remained stable on Friday at Yuan 7,100-7,200/mt (ethylenebased) and Yuan 6,800-6,900/mt (carbide-based) due to a lack of trading interest. Some market sources were already trying to assess fresh offers for June, which are due to be announced in a few weeks’ time. Some market sources said it is possible that Asian PVC makers would raise their offers, but others remained skeptical about the possibility amid volatile crude oil futures. June ICE Brent futures dived $1.97/barrel from last Friday to be assessed at $72.23/b at 4:30 pm Singapore time Friday, S&P Global data showed. In addition, the US PVC price remained low. The FAS Houston PVC price was assessed stable week on week at $740/mt last Friday, data showed.
PVC was stable from last Friday at $840/mt CFR China, $830/mt CFR Southeast Asia and $870/mt CFR India Friday amid thin trading activities amid holiday season. A sell idea was heard at $880/mt CFR India this week. S&P Global moved forward to publish its weekly polymers price assessment in Asia to Friday from Friday due to local public holiday in Singapore.