Asian markets trading report in a week

Jun 14, 2016

Acetate: Asian markets trading report in a week



CFR Northeast Asia

CFR Southeast Asia













Market Summary: This week the Asian acetate stock valuation is almost flat, trading scarce, July cargo shipment price negotiations will begin next week.

Dragon Boat Festival June 9-11 China and Taiwan to curb market transactions, and began to enter the Muslim holy month of Ramadan June 6.

Market prices were mixed.

Local market players said the Chinese market supply will exceed demand, due to acetic acid manufacturers will resume production next week.

Yankuang Cathay Pacific Chemical Co., Ltd. plans to resume around June 10 is located in Tengzhou capacity of 300,000 tons / year and 450,000 tons / year acetic acid plant production prior to 15 days of maintenance.

Shanghai Wujing Chemical also plans to restart on June 10 is located in the Wujing capacity of 200,000 tons / year plant, before closing for 15 days.

Located in Jiangsu Sopo Chemical is still closed, and the acetic acid plant located in Zhenjiang bank plans to close on June 20 a three-week overhaul.

Shanghai Huayi Group, is located in Anhui Wuwei may delay a capacity of 500,000 tons / year plant start-up time of 15-20 days, it is expected to be closed in July.

Chinese demand is expected in the third quarter will be weaker due to lower PTA and acetic anhydride plant will be shut down before the G20 meeting due to reduced operating rates or shut down.

Ningbo area around the plant in August 24 to September 6, the day off to reduce pollution of the surrounding area of Ningbo.

Including Shanghai and Ningbo chemical areas, including major cities, respectively, the city government has issued a notice to close plants or reduce operating rates in order to improve environmental quality.

However, acetic acid manufacturers in other regions remains concerned about the July shipment prices of goods due to higher raw material methanol prices and good demand in China in the third quarter.

India is located Hoher trust a capacity of 1.1 million tons / year No. 1 PTA and apparatus No. 2 PTA plant operating rates high capacity of 1.1 million tons / year before due to lack of water supply and closed May 12 and on June 3 restart.

South Korea and Southeast Asia PTA manufacturers operating rate of 85 to 100%, due to India's PTA plant closures increased buying interest.

India's JBF is expected in the fourth quarter 2016 start, located in the new area of Mangalore new capacity of 1.1 million tons / year PTA plant. Acetic acid demand is expected to start at the level of 5000 tons per month in August.

Northeast Asia: acetic acid imported cargo valued stable, due to a lack of market price factors. Businesses seeking to market prices of raw materials methanol guidance factors in the market due to supply and demand balance.

China this week did not offer cargo within the market, as buying interest is not high.

Local 1000 tons of goods shipped in July quoted at $ 340 / ton (CFR Northeast Asia), but buying interest is not high.

One buyer shopped 3000 tons of goods shipped in July, but the price has not yet begun negotiations.

China: Jiangsu and Zhejiang between the two regions spread narrowed due to weaker demand. Northern Chinese price pressure, which may affect the eastern part of the recent market, local market watchers said.

FOB China price valuation included in the published price range amid a lack of US $ 270 / ton (FOB China) offer the following level, although due to the delivery room offer a large gap between inhibition export transactions.

According to the domestic price level, this week sales target price of $ 275 / ton (FOB China) or more, while last week's sales target price of $ 270 / ton (FOB China). Most other vendors sales price firm at $ 280-290 / ton (FOB China), but the level of price negotiations scarce.

This week the basic purchase price of US $ 260-265 / ton (FOB China), but most vendors refuse the price level.

The supply side, local acetic acid plant operating rate last week dropped an average of 5 percentage points to 64% due to plant closures in Nanjing on June 4 or 5 days.

Southeast Asia: acetic acid imported cargo valued stable, trading scarce, the lack of consultation contract price, the transaction price range announced last week a deal.

7 late arrival cargo purchase intention price of $ 305-315 / ton (CFR South East Asia), but offer strong inhibition of buying interest.

A supplier of price increases planned for next week, due to local buying interest increases, the price outlook.

South Asia: Indian market valuation of imported cargo acetate remained stable, trading scarce.

This week the price of goods shipped in July, negotiations scarce, due to buying interest is not high, and the supplier is expected in the coming weeks the price will firm.

Traders expect the gap is still wide between the delivery price, unless the lack of supply in order to reverse the situation.

An Asian cargo suppliers of goods shipped in July raised the offer to $ 315 / ton (CFR India) above.

Some buyers shopped late July / early August arrival cargo, delivery price of 395-305 US dollars / ton (CFR India) level, a buyer does not accept the Iranian cargo, the buyer has not been firm offer.

Chinese cargo quoted at $ 320 / ton (CFR India) above, but a large gap between the delivery price suppression transaction.

Traders and market players said the higher inventory levels in anticipation of the end of May, and June 10 will be the day Kandla port 1.5-2 ten thousand tons of cargo unloaded, including the United States 8000-9000 tonnage of cargo.

June 1 a tender offer at a lower price 3000-5000 tons of cargo Iran acetate, thus 8 June 1500 tons of small cargo to $ 305 / ton (CFR India) sold at a price, cash transactions. The cargo is scheduled for second half of June to the first half of July between loads.

The price reflects the current market price level, but other vendors offer is still posted high-end price range.

It is said that the Indian domestic market price at 22.50-23.50 rupees / kg (Kuti) levels, while last week quoted at 22.50-23 rupees / kg.