Asia BPA spot prices up on higher China values, feedstock spike
Asian spot bisphenol A (BPA) prices inched up by $10-30/tonne as sentiment was boosted by a slight increase in domestic values in the key China market and the recent spike in feedstock phenol costs.
Nan Ya Plastics continues to face a delay in restarting its 100,000 tonne/year No 3 and 130,000 tonne/year No 4 BPA lines at Mailiao in Taiwan, following a pipeline blast at the site. The immediate impact from this delay remains uncertain as the downstream epoxy resins and PC segments are persistently dull.
Most buyers are thus concerned about the supply condition for the coming few weeks as this major BPA producer is still out of the market. This prompted other producers to raise their offers for the remainder of August shipments.
China
Three regional 200 tonne parcels were booked during the week at $2,100/tonne CFR China for August shipment, while a 510 tonne regional cargo was heard sold at $2,120/tonne CFR China for August loading.
A 200 tonne lot was heard sealed at $2,120/tonne CFR China for shipment at the end of August/September.
A 200-300 tonne parcel was sold at $2,130/tonne CFR China for prompt arrival. Meanwhile, offers for deep-sea warehouse cargoes were heard at $2,180/tonne CFR China, but there were no takers.
An offer for a 300 tonne parcel was heard at $2,080/tonne CFR China for August shipment early in the week, but no further details was obtained.
Chinese domestic prices rose by yuan (CNY) 300/tonne to CNY17,100-17,400/tonne EXWH as some traders expected further price upside because of tighter supply, local players said.
Upstream
Spot benzene prices receded by $50-60/tonne to settle at $1,150-1,165/tonne FOB Korea on Friday, while phenol prices inched up $20/tonne to $1,750-1,790/tonne CFR China.
Downstream
Optical grade PC prices were up by $30/tonne on the high end at $2,900-2,980/tonne CIF Hong Kong, while prices in Taiwan rolled over at $2,750-2,900/tonne CIF Taiwan. GP moulding grade prices were stable at $2,950-3,050/tonne CIF Hong Kong.
The prices of LER exports from northeast Asia inched up by $50/tonne to $3,250-3,350/tonne FOB NE Asia.
($1 = CNY6.44)
Covering editor: Michael Yan
This week on ICIS news ( www.icis.com )
05-Aug-11 11:03 Crude futures slump as global recession worries grow
05-Aug-11 10:28 Asia benzene plunges $50-55/tonne on crude collapse
04-Aug-11 22:11 US August cumene prices increase by 5% on higher feedstocks
02-Aug-11 11:44 Taiwan’s FCFC runs Mailiao phenol-acetone plant at full capacity
02-Aug-11 11:27 Japan’s Mitsui Chemical restarts Osaka phenol/acetone plant
