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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 1
PLATTS INTERNATIONAL PRICES (USD/MT)
Product
Aug 27
(WK 35)
Sep 03
(WK 36)
Price Change
on Week
India Crude basket: (USD/ b) 101.47 99.53 - 1.94
Naphtha: (MOP West India) 883.48 861.23 - 22.25
Propylene :
FOB Korea 1334-1336 1319-1321 - 15
CFR China 1384-1386 1374-1376 - 10
CFR South East Asia 1299-1301 1269-1271 - 30
Poly propylene :
PP Injection South Asia 1564-1566 1559-1561 - 05
PP Injection Far East Asia 1489-1491 1489-1491 0
PP Injection South East Asia 1539-1541 1519-1521 - 20
PP Raffia South Asia 1564-1566 1559-1561 - 05
PP Raffia Far East Asia 1499-1501 1499-1501 0
PP Raffia South East Asia 1549-1551 1529-1531 - 20
PP IPP Film South Asia 1599-1601 1599-1601 0
PP IPP Film Far East Asia 1519-1521 1519-1521 0
PP IPP Film South East Asia 1564-1566 1569-1571 + 05
PP Copolymer South Asia 1629-1631 1614-1616 - 15
PP Copolymer Far East Asia 1609-1611 1609-1611 0
PP Copolymer South East Asia 1629-1631 1609-1611 - 20
PP BOPP South Asia 1599-1601 1584-1586 - 15
PP BOPP Far East Asia 1514-1516 1514-1516 0
PP BOPP South East Asia 1559-1561 1559-1561 0
China Domestic (YUAN/ MT EX-WORK) :
PP Raffia 11330-11370 11305-11345 - 25
POLYMERUPDATE INDIAN DOMESTIC PRODUCER PRICE RIL (Ex-Hazira)
INDIA DOMESTIC PRODUCER PRICE - RIL (Ex Hazira)
Product
Aug 27 (WK 35)
Sep 03 (WK 36) Price Change on Week
I NR/ KG USD/ MT I NR/ KG USD/ MT I NR/ KG
PP Grade
Raffia 111.08 1667
111.08 1667 0
Injection 109.27 1639
109.27 1639 0
TQ Film
Homopolymer
112.47 1688
112.47 1688 0
Block Copolymer 113.36 1702
113.36 1702 0
Random Copolymer 115.89 1741
115.89 1741 0
BOPP Homopolymer 113.60 1705
113.60 1705 0
*Domestic Indian producer prices are quoted in I NR/ kg basic (Nett of all taxes); equivalent USD/ MT
price is calculated at current US/ INR rate. *Lot Size: 1 Truck Load (10 to 16 MT)
- Price assessments are based on information gathered from a cross section of the industry that includes
resin producers, processors, traders and distributors.
- Standard repeatable orders (based on confirmed market deals) form the basis of the prices.
PLATTS INTERNATIONAL PRICES
Specifications: Cargoes of 100-500mt delivered 15-30 days forward from date of publication with
up to 30 days credit, basis CFR Far East Asia: China main ports (Shanghai, Shenzhen, Ningbo, Shantou,
Hong Kong); CFR South East Asia: Indonesia (J akarta, Surabaya), Singapore, Philippines (Manila Bay),
Malaysia (Port Kelang), Thailand (Bangkok, Laem Chabang, Map Ta Phut), Vietnam (Ho Chi Minh). Platts
prices reflect spot market values on the day of publication.
I ndia Crude Import Basket Calculation: ( (Dubai + Oman) / 2 * 65.2% ) + (Dated Brent * 34.8%)
MOP West I ndia : Mean of Platts FOB West I ndia naphtha export price
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 2
PLATTS Polymer shipping costs (USD/MT)
POLYMERUPDATE - INDIAN PRODUCER POSTING PRICE COMPARISON (GRADE WISE) w.e.f 1-Sep-2014
BOPP
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H029SG/H035SG 113600 1705
HALDIA (Ex-Works) F103 114350 1717
FIBRE FILAMENTS
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H350FG/H200FG 111580 1674
IMPACT COPOLYMER
Producer Grade No. *INR/MT USD/MT
RIL (Ex Works BC/NC) MI3535 116430 1749
RIL (Ex-Hazira) B030MG/B120MA 113360 1702
HALDIA (Ex-Works) M304 115050 1728
INJ ECTION MOULDING (MFI - 3)
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H033MG 110580 1659
HALDIA (Ex-Works) M103 111900 1679
INJ ECTION MOULDING (MFI 8-11)
Producer Grade No. *INR/MT USD/MT
RIL (Ex Works BC/NC) AM120N 107730 1615
RIL (Ex-Hazira) H110MA 109270 1639
HALDIA (Ex-Works) M110 109550 1643
RANDOM COPOLYMER
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) R019MZ 115890 1741
RAFFIA
Producer Grade No. *INR/MT USD/MT
RIL (Ex Works BC/NC) SS35N 110390 1656
RIL (Ex-Hazira) H030SG 111080 1667
HALDIA (Ex-Works) R103 116650 1752
TQ FILM
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H100EY 112470 1688
HALDIA (Ex-Works) F110 113400 1702
*Domestic Indian producer prices are quoted in INR/MT basic (Nett of all taxes); equivalent USD/MT price is calculated at current US/INR rate. *Lot Size: 1 Truck Load (10 to 16 MT)
- Ex Works: BC/NC = Ex Works Baroda Complex / Nagothane Complex | Ex Works: HC = Halidia Complex | Ex Works: M/B/T = Mumbai / Bhiwandi / Thane
- Product Key: BOPP = Biaxially-Oriented Polypropylene, MFI = Melt Flow Index,
- USD Price calculation: INR/MT Aprox. Clearing and Forwarding charges / Basic Duty / Exchange Rate = USD/MT (For example: 82330 2500 / 1.075 / 54.24 = 1396)
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 4
Heard in PP MARKET
Platts:
03 Sep PP Homo: Sep arrival deal heard done at $1,540/mt CFR Vietnam, L/C 30 days
03 Sep PP Injection: Sep arrival cargo offer heard at $1,550/mt CFR Vietnam, 500mt
03 Sep PP Raffia: Sep arrival cargo market estimate at $1,520-1,530/mt CFR China, 500mt
03 Sep PP Homo: Sep arrival market estimate at $1,530/mt CFR Vietnam, 500mt
02 Sep PP Raffia: Domestic price in Fujian, China heard at Yuan 11,300-11,350/mt ex-works
Polymerupdate:
1-9-2014: Saudi Arabia producer offers PP Raffia at $ 1590/mt in India (CIF Nhava Sheva port)
1-9-2014: Saudi Arabia producer offers PP Random Copolymer at $ 1660/mt in India (CIF Nhava
Sheva port)
28-8-2014: Malaysia producer offers PP Random Copolymer at $ 1750-1760/mt in India (CIF
Nhava Sheva port)
PLATTS INTERNATIONAL MARKET COMMENTARY & ANALYSIS
PROPYLENE: The CFR Far East Asia propylene marker fell $10/mt week on week and $15/mt day on day to be
assessed at $1,375/mt Friday. Lower buying ideas pulled prices down this week due to expectations of rising
supply in China and cash-flow problems among some buyers, market participants said. Propylene offers were heard
at $1,390-1,405/mt CFR China, while buying ideas hovered around $1,370/mt CFR China. Trades for H2 September
arrival cargoes were heard concluded at $1,370-1,385/mt CFR East China, while deals were heard done on a CFR
North China basis were between $1,380/mt and 1,390/mt. The FOB Korea marker fell in line with CFR FEA, down
$10/mt from a week ago to be assessed at $1,325/mt. One trader said weak market sentiment in China has
dampened buying intentions for South Korean cargoes. "Even if they sell at $1,300/mt, I am not interested. It is
too risky because China [market] is dropping," he said. "Buyers are bidding lower and I need to sell," the same
source added. Some market participants said that some Chinese buyers are facing poor cash flow and sellers are
having trouble collecting payment. In related news, Zhejiang Satellite Energy has started commercial production of
propylene at its Pinghu propane dehydrogenation, or PDH, plant in China's northeast Zhejiang province, a company
source confirmed Friday but did not provide further details. Market sources said on-spec product was first produced
Wednesday or Thursday. "This sure will have a big impact on C3, especially when Southeast Asia remains long," an
end-user said. "Thailand has been selling this week." Thailand's Siam Cement Group and IRPC have each sold one
cargo around $1,270/mt "or lower" FOB Ma Ta Phut with a combined volume of at least 4,500 mt, according to
traders. One trader said early Friday that "propylene buyers [in China] are bidding lower now" amid news of
Satellite's propylene product passing qualification standards. "The market is dropping," he added. But another
trader saw no impact yet. "I think impact will be felt in October," the trader said. "Right now I assume the PDH
plant will not be running at full capacity, maybe 65-75% only." Satellite's PDH plant has a propylene production
capacity of 450,000 mt/year, and the company's downstream acrylic acid plant has a capacity of 480,000 mt/year.
Sanyuan Petrochemical is also set to produce on-spec propylene by H2 September at its 450,000 mt/year Shaoxing
propane dehydrogenation plant in Zhejiang province, according to a company source Friday. The PDH plant is still
currently undergoing test runs, the source added. The propyplene will be fed into its 600,000 mt/year integrated
polypropylene plant. Sanyuan will also continue to sell propylene to Chinese downstream manufacturers, the same
source added. Sanyuan Petrochemical has imported about 700,000 mt of propylene in 2013, the source said.
POLYPROPYLENE (PP): Asian polypropylene for the PP raffia grade was assessed flat week
on week at $1,500/mt CFR Far East Asia. Offers were heard at $1,510-1,530/mt CFR China.
There were no bids heard, but a notional deal level was heard at $1,510/mt CFR China on 90-
day letter of credit basis. "These days, the international spot market is weak. I don't think
deals can be concluded at large volumes, even with the low prices," a Chinese end-user said. A
trader said market participants were watching PP futures, which were falling. "PP prices for
September are slowly down and for October, sharply down," the Chinese end-user said. The
CFR Southeast Asia marker for the same grade sank $20/mt week on week to be assessed at
$1,530/mt Wednesday. A deal was heard concluded last week at $1,540/mt CFR Vietnam.
However, this was not a repeatable level this week, according to market participants. There
were no deals done during the week. Notional deal levels were heard at $1,530/mt CFR SEA.
"Market is very quiet, not much inquiry. Customers are worried prices will go down," a
Southeast Asian trader said. The South Asia marker for PP raffia was assessed slightly lower,
shedding $5/mt week on week at $1,560/mt CFR. Offers were heard between $1,565/mt and
$1,590/mt CFR South Asia. There were no bids heard. In India, a trader said he sold a cargo
late Tuesday at $1,580/mt. However, the buyer could not be verified, and the volume sold was
68 mt, below the Platts methodology, which assesses cargoes of 100-500 mt. "Buyers are
silent. There are no bids and people are just waiting for market to stabilize," a second market
source from India said. "At the moment there is no buying interest from customers," a trade
source from Pakistan said. "People are looking at Chinese prices and will be looking at $1,535-
1,540/mt [CFR Pakistan]. That is down from $1,560 [buy idea] when CFR China [marker] was
at $1,540/mt level," the same source added.
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 5
POLYMERUPDATE - PP MARKET SUPPLY SCENARIO
No.2 FCC planned to be shut by J X
Nippon
J X Nippon Oil and Energy is in plans to shut
its No.2 fluid catalytic cracker (FCC) for
maintenance turnaround. The unit is likely
to be shut in mid-September 2014. It is
expected to remain off-stream for around
two weeks. Located in Negishi, J apan, the
unit has a propylene capacity of 85,000
mt/year.
PDH unit likely to be restarted by
Tianjin Bohai
Tianjin Bohai Chemical Industry Group is
likely to restart a propane dehydrogenation
(PDH) unit. The unit is planned to be
restarted towards the end of this week. I t
was shut on August 24, 2014 owing to
heavy rains and lightning. Located at
Tianjin in China, the unit has a propylene
capacity of 600,000 mt/year.
Zhejiang Satellite has achieved on-
spec production at new PDH plant
Zhejiang Satellite Petrochemical Co is
reported to have achieved on-spec
production at new propane
dehydrogenation (PDH) plant. The
company has attained on-spec production this week. The trial run commenced at the new plant in early August 2014. Located at J iaxing in Zhejiang province of China, the plant has a propylene production capacity of
450,000 mt/year.
PDH and PP plants restarted by Al Waha
Al Waha Petrochemicals Company, a subsidiary of Saudi-based Sahara Petrochemical Company, has restarted its propane dehydrogenation (PDH) and polypropylene plants. The plants resumed production on August
27, 2014 following its emergency shutdown on August 17, 2014 owing to technical issues. Located at J ubail in Saudi Arabia, the PDH plant has a propylene production capacity of 467,000 mt/year and PP plant has a
production capacity of 450,000 mt/year.
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 6
PLATTS Price Analysis of PP Chain Processing Margins
CFR FE Asia PP homo injection prices as a ratio of naphtha CFR China propylene premium or discount to CFR South East Asian propylene prices
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 7
Currency rates equivalent to 1 US Dollar :
Countries Currency Rates Countries Currency Rates
Indian Rupees (INR) 60.60 J apan Yen (J PY) 105.12
Pakistan Rupees (PKR) 102.09 Indonesia Rupiahs (IDR) 11,763.26
China Yuan Renminb (CNY) 6.14 Malaysia Ringgits (MYR) 3.17
Bangladesh Taka (BDT) 77.47 Singapore Dollars (SGD) 1.25
Sri Lanka Rupees (LKR) 130.19 South Korea Won (KRW) 1018.29
Thailand Baht (THB) 32.12 Saudi Arabia Riyals (SAR) 3.75
Taiwan New Dollars (TWD) 29.94 United Arab Emirates Dirhams (AED) 3.67
CRISIL Research Macroeconomics & Currency Monthly Analysis
OVERVIEW: Monsoon enters crucial phase
In J une, the first month of the monsoon season, rainfall was close to 43% below the long period average. This
delayed the sowing of crops. However, the rainfall deficit reduced to 18% by August 10. The I MDexpects overall
rainfall deficiency of around 10%, which implies that rains will pick up further over the remaining part of the season.
CRISILs Deficient Rainfall Impact Parameter shows that Maharashtra, Gujarat and Rajasthan are the worst-hit. These
states have a large share of coarse cereals (jowar, bajra), pulses (tur) and oilseeds (groundnut, soybean) in overall
production. The delay in sowing of these cropswill pull down the agricultural GDP growth to 1% in FY15. This is
unlikely to derail the Reserve Bank of Indias consumer price index (CPI) inflation target of 8% by J anuary 2015 as the
most-affected crops have low weight (4.3%) in the CPI. Moreover, government measures, such a lower rise in the
minimum support price this year and ample buffer stocks, and a favourable base-effect will cap foodgrain inflation.
However, the risk is from elevated fruit and vegetable prices, which are hard to predict and can play spoilsport.
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 8
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Week 36 September 03, 2014
ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:info@polymerupdate.com|Tel:+912261772000(25lines)|Fax:+912261772025 9
POLYMERUPDATE PLATTS
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Tokyo Editors: Fumiko Dobashi, Anton Ferkov Dubai Editor: Shashank Shekhar
About Polymerupdate: Polymerupdate is a destination for global players seeking plastics and petrochemical intelligence. We are a world renowned provider of real time news and price alerts spanning a whole spectrum of
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