MR 30112013 000000 PDF

POLYMERUPDATE - Asian
Petrochemical
Monthly Price Watch Report
2013
November

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Asian Petrochemical
Monthly Price Watch Report
November 2013

1
HeadOffice:ShalimarInfotechPvt.Ltd.
344,AZIndustrialEstate,G.K.Marg,LowerParel,Mumbai400013,INDIA
Tel:(9122)61772000(25lines)Fax:(9122)61772025Email:info@polymerupdate.com

Index

Notes to Price Watch Report 02
Executive Summary 04

Crude Oil 08
Naphtha 14
Polymers
LLDPE 18
LDPE 23
HDPE 29
PP 36
PVC 45
PS 48
ABS 51
Aromatics
Benzene 53
Toluene 57
Xylene 61
Methanol 67
Olefins
Butadiene 70
Ethylene 73
Propylene 76
Feedstock
Styrene Monomer 79
EDC/VCM 83
PTA 86
MEG 86
Intermediates
ACN 92
DOP 94
2EH 96
Indian Polymers Market
Indian Polymers Market Summary 98
Indian Polymers Price Movement 99

Disclaimer & Copyright 102

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NotestoPriceWatchReport
MarketTerms
FOB FreeOnBoard
CNF/CFR Cost+Freight
CIF Cost+Insurance+Freight
MainstreamOffer MainMarketOffer
Spot
Quotedforsalesoffixedvolumesfordeliveryinasimple
shipmentataspecifiedtime,normallywithinfourweeks
fromthedateofpublication.Thequotescoverprices
agreedinnegotiationsbetweenbuyersandsellersinthe
weekleadinguptothedateofpublication
Local
AlllocalpricesareBasic(exclusiveofexcisedutyand
otherlocaltaxes)
Contract
Quotedforagreementscoveringthesupplyofaproduct
overanextendedperiod.Pricesarenegotiatedbetween
abuyerandselleratregularintervals,oftenmonthlyor
quarterlyandarequotedforthemonthorquarterof
delivery
Exwork ExFactoryPrice
MarketsbyRegions
FarEastAsia NorthEastAsia SouthAsia SouthEastAsia
SouthKorea Taiwan India Singapore
Japan China Pakistan Thailand
SriLanka Indonesia
Bangladesh Malaysia
Philippines
Week1November1toNovember9

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ExchangeRate=1USD(Nov.13)
W4 W3 W2 W1
ChineseYuan(CNY) 6.126833 6.124867 6.12905 6.132356
ThaiBaht(THB) 31.96932 31.62058 31.51102 31.19113
SouthKoreanWon
(KRW)
1059.66 1052.27 1063.34 1056.69
SingaporeDollar
(SGD)
1.252 1.247 1.248 1.242
JapaneseYen(JPY) 101.7583 100.3367 99.51333 98.51778
IndianRupee(INR) 62.20732 62.43863 63.30383 61.94503

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ExecutiveSummary
CrudeoilpricesdisplayedamixedundertoneonNovember29onthebackofdecliningcrude
oil production in Libya on one hand and a rise in the value of the US dollar on the other.
Nymex crude futures traded higher at USD 92.72/barrel while Dated Brent prices were lower
atUSD109.69/barrel.WTICushingpriceswereupatUSD92.72/barrel.
OpenspecnaphthabidpricesonNovember29forthe1HofJanuarywereassessedattheUSD
969/mtCFRFarEastlevelswhiletheaskratewasattheUSD971/mtCFRFarEastlevels.The
forward naphtha market price indications for the 1H of January were down at the USD
960.50/mtlevels.
LLDPE prices climbed in Asia during week 4. The price rise attributed to improved buying
sentimentsintheregion.OnNovember29,CFRFarEastAsiapricesofLLDPEwereassessedup
attheUSD1555/mtmark,aweekonweekriseofUSD20/mt.CFRSouthEastAsiapriceswere
assessed higher at the USD 1545/mt mark, a gain of USD 10/mt. CFR South Asia prices were
assessedupattheUSD1510/mtlevels.
LDPE prices climbed in Asia during week 4. Prices firmed on the back of tight product
availabilityintheregion.OnNovember29,CFRFarEastAsiapricesofLDPEwereassessedup
at the USD 1720/mt mark. CFR South East Asia prices were assessed higher at the USD
1690/mtmark,ariseofUSD20/mtontheweek.
HDPE prices finished sharply higher in Asia during week 4. Improved buying trends in the
region supported the price climb. In Far East Asia, prices of HDPE injection moulding were
assessedupattheUSD1510/mtlevels,againofUSD25/mtontheweek.HDPEblowmoulding
priceswereassessedhigherattheUSD1520/mtCFRlevels,asharpriseofUSD30/mtonthe
week.HDPEyarnpriceswerehigherattheUSD1550/mtlevels,upUSD15/mt.OnNovember
29,HDPEfilmpriceswereassessedupattheUSD1550/mtCFRlevels.InSouthEastAsia,HDPE
filmpriceswereassessedupattheUSD1530/mtCFRlevels,aweekonweekriseofUSD5/mt,
while prices of HDPE BM were assessed higher at the USD 1520/mt levels, a gain of USD
10/mt.HDPEInjectionpriceswereupattheUSD1510/mtlevels,aweekonweekincreaseof
USD 5/mt. HDPE yarn prices were assessed higher at the USD 1550/mt levels, a rise of USD
10/mt. In South Asia, prices of HDPE injection and HDPE BM were assessed up at the USD
1500/mtlevels,asharpgainofUSD25/mtontheweek.HDPEfilmpriceswereassessedhigher
attheUSD1510/mtlevels,ariseofUSD25/mt.
Polypropylene (PP) prices were assessed mixed in Asia during week 4. On November 29, CFR
FarEastAsiapricesofPPraffiaandPPinjectionwereassessedupattheUSD1540/mtlevels.
PPraffiaandPPinjectionpriceswereassessedhigherattheUSD1525/mtCFRSouthEastAsia
levels, a rise of USD 10/mt. PP block copolymer prices were assessed down at the USD
1550/mtCFRFarEastAsialevels,aweekonweekfallofUSD5/mt.CFRSouthEastAsiaprices

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of PP block copolymer were assessed lower at the USD 1560/mt levels, a fall of USD 5/mt.
BOPPpriceswereassessedupattheUSD1540/mtCFRFarEastAsialevels,ariseofUSD5/mt
while CFR South East Asia prices of BOPP were assessed higher at the USD 1540/mt levels, a
gain of USD 10/mt. CFR Far East Asia, PP film prices were assessed unchanged at the USD
1540/mt levels. CFR South East Asia prices of PP film were higher at the USD 1540/mt levels,
up at USD 10/mt. In South Asia, prices PP raffia and PP injection were assessed down at the
USD 1495/mt levels, a drop of USD 5/mt. PP film prices were assessed lower at the USD
1515/mt levels, down USD 15/mt. PP block copolymer prices were assessed flat at the USD
1530/mtlevels.BOPPpriceswereassessedlowertheUSD1515/mtCFRSouthAsialevels.
PVC prices firmed in Asia during week 4. Firmer upstream ethylene, EDC and VCM rates
pushed prices higher in the region. CFR China prices of PVC were assessed up at the USD
1015/mt levels, a week on week sharp gain of USD 20/mt. CFR South East Asia prices of PVC
wereassessedhigherattheUSD1000/mtlevels,ariseofUSD15/mtontheweek.
PS prices drifted lower in Asia during week 4. The price fall was a result of weaker feedstock
SMvaluesanddullbuyingtrendsintheregion.CFRChinapricesofGPPSwereassesseddown
at the USD 1765/mt levels, a week on week fall of USD 15/mt. CFR South East Asia prices of
GPPSwereassessedlowerattheUSD1790/mtlevels,downUSD10/mt.InChina,HIPSprices
wereassesseddownattheUSD1815/mtCFRmark,adropofUSD10/mt.CFRSouthEastAsia
prices of HIPS were assessed lower at the USD 1830/mt levels, down USD 15/mt. EPS prices
meanwhile were assessed flat at the USD 1800/mt FOB North East Asia mark for general
purposegrades.
WeakdemandtrendspushedABSpriceslowerinAsiaduringweek4.CFRChinapricesofABS
were assessed lower at the USD 1860/mt levels, a fall of USD 10/mt on the week. CFR South
East Asia prices of ABS were assessed down at the USD 1875/mt CFR levels, a week on week
dropofUSD5/mt.
Benzene prices in Asia firmed during week 4. Strong demand trends in the region supported
thepricegain.FirmerbenzenevaluesintheUSfurthersupportedthepricerise.OnNovember
29,pricesofbenzenewereassessedupattheUSD1330/mtFOBKoreamark,asharpincrease
ofUSD30/mtontheweek.
ToluenepricesinAsiafinishedhigherduringweek4.Tightproductavailscoupledwitharisein
downstream benzenevalues, together supported the price climb. On November 29, although
pricesdeclinedontheday,toluenewasassessedattheUSD1170/mtFOBKorealevels,aweek
on week rise of USD 10/mt. CFR China prices of toluene were assessed higher at the USD
1195/mt levels. CFR South East Asia prices were assessed up at the USD 1210/mt levels, a
sharpgainofUSD25/mt.

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DespiteariseinfeedstockisomerMXrates,orthoxylene(OX)priceswereassessedflatinAsia
during week 4. Demand trends for the product was reported to be weak in the region. FOB
Korea prices of OX were assessed stable at the USD 1395/mt levels while CFR China prices
wereassessedunchangedattheUSD1420/mtlevels.CFRSouthEastAsiapriceswereassessed
flat at the USD 1385/mt levels. Paraxylene (PX) prices meanwhile climbed in Asia. The price
rise was attributed to bullish buying sentiments and firmer upstream isomer MX and
downstream PTA values. On November 29, PX prices were assessed up at the USD 1400/mt
FOB Korea levels, a week on week rise of USD 15/mt. CFR Taiwan prices of PX were assessed
higher at the USD 1425/mt levels. Solvent grade MX prices in Asia also finished higher. FOB
Korea prices were assessed up at the USD 1180/mt levels, a rise of USD 10/mt. CFR Taiwan
priceswereassessedhigherattheUSD1195/mtlevels,ariseofUSD10/mt.CFRChinaprices
ofSolventMXwereassessedupattheUSD1210/mtlevels,againofUSD5/mt.CFRSouthEast
Asia priceswere assessed up at the USD 1215/mt levels, a rise of USD 5/mt. Prices of Isomer
MXwereassessedupattheUSD1220/mtFOBKorealevels,ariseofUSD15/mt.CFRTaiwan
pricesofIsomerMXwereassessedhigherattheUSD1245/mtlevels,aweekonweekgainof
USD15/mt.
Methanol prices firmed in Asia during week 4. Prices firmed on the back of worries of
constrained supplies for prompt parcels in the region. CFR China prices were assessed up at
the USD 515/mt levels, a week on week sharp gain of USD 20/mt. Prices of methanol were
assessed higher at the USD 515/mt CFR Korea levels, a rise of USD 5/mt on the week. CFR
SouthEastAsiapriceswereupattheUSD595/mtlevels,againofUSD15/mt.CFRIndiaprices
wereassessedflatattheUSD460/mtlevels.
Butadiene prices in Asia galloped higher during week 4. Continued strong buying sentiments
witnessed in key markets like China supported the sharp price rise. Supporting price gains
were improved demand trends in downstream SBR markets. FOB Korea prices of butadiene
wereassessedupattheUSD1525/mtlevels,asharpweekonweekgainofUSD115/mt.CFR
South East Asia prices of butadiene were assessed higher at the USD 1550/mt levels, a steep
rise of USD 140/mt. CFR China prices of butadiene were assessed up at the USD 1560/mt
levels,asharpincreaseofUSD140/mt.
EthylenepricesclimbedinAsiaduringweek4.Thepricerisewasonthebackoftightproduct
availsintheregion.FOBKoreapricesofethylenewereassessedupattheUSD1315/mtlevels,
a week on week gain of USD 15/mt. CFR North East Asia prices of ethylene were assessed
higherattheUSD1380/mtlevels,upUSD10/mtontheweek.CFRSouthEastAsiapriceswere
assessedunchangedattheUSD1415/mtlevels.
PropylenepricesedgedupinpartsofAsiaduringweek4.OnNovember29,FOBKoreaprices
of propylene were assessed flat at the USD 1405/mt levels. CFR China prices were assessed
higherattheUSD1475/mtlevels,aweekonweekgainofUSD5/mt.Thepricerisewasonthe

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back of strong buying trends witnessed in the region. CFR Taiwan propylene prices were
assessed flat at the USD 1445/mt levels while CFR South East Asia prices of propylene were
assessedunchangedattheUSD1370/mtlevels.
Despiteasharpriseinfeedstockbenzenevalues,styrenemonomer(SM)pricesinAsiainched
lower during week 4. On November 29, SM prices were assessed down at the USD 1635/mt
FOB Korea levels, a week on week fall of USD 5/mt. CFR China prices were assessed lower at
the USD 1660/mt levels, down USD 5/mt. CFR Japan prices were assessed down at the USD
1655/mt levels, a week on week drop of USD 5/mt while CFR India prices were lower at the
USD1650/mtlevels,afallofUSD10/mtontheweek.
Despite tight product avails, EDC prices edged lower in parts of Asia during week 4. CFR Far
EastAsiapricesofEDCwereassessedflatattheUSD395/mtlevelswhileCFRSouthEastAsia
prices were assessed lower at the USD 405/mt levels, down USD 5/mt on the week. VCM
priceswereassessedlowerinpartsofAsia.CFRSouthEastAsiapricesweresteadyattheUSD
885/mtlevels.CFRFarEastAsiapriceswereassessedlowerattheUSD875/mtlevels,afallof
USD10/mtontheweek.
PTA prices edged up in Asia during week 4. CFR China prices of PTA were assessed up at the
USD 985990/mt levels while CFR South East Asia prices of PTA were assessed at the USD
990/mtlevels.CFRIndiapriceswereassessedattheUSD10151020/mtlevels.
Prices of MEG firmed during week 4 in Asia. Prices climbed on reports of an unplanned
shutdown at an MEG plant in Saudi Arabia. CFR China price of MEG were assessed up at the
USD 1025/mt levels, a sharp gain of USD 20/mt on the week. CFR South East Asia prices of
MEGwereupattheUSD1030/mtlevels,aweekonweekriseofUSD20/mt.
ACN prices journeyed south in Asia during week 4. Prices fell on the back of weak buying
sentiments in key markets like China coupled with a drop in feedstock propylene values. CFR
Far East Asia prices of ACN were assessed down at the USD 1825/mt levels, a week on week
fallofUSD10/mt.CFRSouthEastAsiapriceswereassessedlowerattheUSD1820/mtlevels.
InSouthAsia,pricesofACNwereassessedsteadyattheUSD1775/mtCFRlevels.
Despiteagaininfeedstock2EHvalues,DOPpricestumbledduringweek4inAsia.Pricesfellas
demandsentimentsweresubduedintheregion.CFRChinapricesofDOPwereassesseddown
attheUSD1505/mtlevels,asharpfallofUSD20/mtontheweek.CFRSouthEastAsiaprices
wereassessedlowerattheUSD1545/mtlevels,atumbleofUSD30/mt.
InAsiaduringweek4,pricesof2EHmarchedhigher.Limitedproductavailabilityintheregion
coupled with firmer feedstock propylene rates supported the price gain. CFR China prices of
2EHwereassessedupattheUSD1395/mtlevels,aweekonweekriseofUSD20/mt.InSouth
East Asia, prices of 2EH were assessed higher at the USD 1420/mt CFR levels, a gain of USD
20/mtontheweek.

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CrudeoilpricesdeclinedonNovember5onthebackofariseinUScrudeoilinventoriesand
an increase in the value of the US dollar. Nymex crude futures traded lower at USD
93.37/barrel while Dated Brent prices were down at USD 105.33/barrel. WTI Cushing prices
weredownatUSD93.37/barrel.
CrudeoilpricesdisplayedamixedundertoneonNovember6onthebackofafallinthevalue
of the US dollar on one hand and a rise in crude oil inventories on the other. Nymex crude
futures traded higher at USD 94.80/barrel while Dated Brent prices were down at USD
105.24/barrel.WTICushingpriceswereupatUSD94.80/barrel.
CrudeoilpricesdroppedonNovember7onthebackofariseinthevalueoftheUSdollarand
afallinUSequityindices.NymexcrudefuturestradedloweratUSD94.20/barrelwhileDated
Brent prices were down at USD 103.46/barrel. WTI Cushing prices were down at USD
94.20/barrel.
CrudeoilpricesroseonNovember8onreducedexpectationsofapossiblereconciliationover
Iran's nuclear issue. Prices also climbed on a rise in US equity indices. Nymex crude futures
tradedhigheratUSD94.60/barrelwhileDatedBrentpriceswereupatUSD105.12/barrel.WTI
CushingpriceswereupatUSD94.60/barrel.
Crude oil prices rose on November 11 owing to a fall in the value of the US dollar. The price
risewassupportedbygainsinU.S. equityindices.NymexcrudefuturestradedhigheratUSD
95.14/barrelwhileDatedBrentpriceswereupatUSD106.40/barrel.WTICushingpriceswere
higheratUSD95.14/barrel.
Crude oil prices fell on November 12 on the back of a rise in the US dollar. The price fall was
triggered by a decline in US equity indices. Nymex crude futures traded lower at USD
93.04/barrel while Dated Brent prices were down at USD 105.81/barrel. WTI Cushing prices
weredownatUSD93.04/barrel.
CrudeoilpricesgainedonNovember13onthebackofreportsoffreshunrestinLibyaanda
decline in the value of the US dollar. Nymex crude futures traded higher at USD 93.88/barrel
while Dated Brent prices were up at USD 107.12/barrel. WTI Cushing prices were up at USD
93.88/barrel.
Crude prices displayed a mixed undertone on November 14 on the back of a rise in crude oil
inventoriesononehandandadeclineintheUSgreenbackontheother.Nymexcrudefutures
Crude Oil Summary

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tradedloweratUSD93.76/barrelwhileDatedBrentpriceswereupatUSD108.54/barrel.WTI
CushingpricesweredownatUSD93.76/barrel.
CrudeoilpricesendedmixedonNovember15owingtoadeclineinthevalueoftheUSdollar
on one hand and a statement by US Federal Reserve Chairman elect Janet Yellen that she is
not in favor of discontinuing of the US stimulus program on the other. Nymex crude futures
tradedhigheratUSD93.84/barrelwhileDatedBrentpriceswereloweratUSD108.50/barrel.
WTICushingpricesweredownatUSD93.84/barrel.
Crude oil prices declined on November 18 on indications that the US FederalReserve is likely
to adopt a goslow approach regarding its stimulus program. Nymex crude futures traded
lower at USD 93.03/barrel while Dated Brent prices were lower at USD 108.47/barrel. WTI
CushingpricesweredownatUSD93.03/barrel.
Crude oil prices displayed a mixed undertone on November 19 on account of a fall in the
valuesoftheUSdollarontheonehandandariseinUScrudeandgasolineinventoriesonthe
other.NymexcrudefuturestradedhigheratUSD93.34/barrelwhileDatedBrentpriceswere
loweratUSD106.92/barrel.WTICushingpriceswereupatUSD93.34/barrel.
CrudeoilpricesgainedonNovember20owingtoafallinUSgasolineanddistillateinventories.
NymexcrudefuturestradedhigheratUSD93.85/barrelwhileDatedBrentpriceswerehigher
CrudeoilpricegainedonNovember21onthebackofafallinU.S.joblessbenefitclaims.The
price rise was supported by gains in US equity indices. Nymex crude futures traded higher at
USD95.44/barrelwhileDatedBrentpriceswereupatUSD108.08/barrel.WTICushingprices
werehigheratUSD95.44/barrel.
CrudeoilpricesendedmixedonNovember22onthebackofariseinUScrudeoilinventories
ontheonehandandadeclineinthevalueoftheUSdollarontheother.Nymexcrudefutures
tradedloweratUSD94.84/barrelwhileDatedBrentpriceswerehigheratUSD111.05/barrel.
WTICushingpricesweredownatUSD94.84/barrel.
CrudeoilpricesfellonNovember25onthebackofadealreachedbetweenIranandwestern
powerswherebyeconomicsanctionshavebeenliftedontheIslamicRepublic.Thefallinprices
was also a result of a rise in the value of the US dollar. Nymex crude futures traded lower at
USD 94.09/barrel while Dated Brent prices were down at USD 111.00/barrel. WTI Cushing
priceswereloweratUSD94.09/barrel

10

CrudeoilpricesfellonNovember26onthebackofariseinUScrudeandgasolineinventories.
ThefallinpriceswasalsosupportedbyadeclineinacrucialU.S.consumerindex.Nymexcrude
futures traded lower at USD 93.68/barrel while Dated Brent prices were lower at USD
110.88/barrel.WTICushingpricesweredownatUSD93.68/barrel.
Crude oil prices displayed a mixed undertone on November 27 on the back of a rise in US
crudeandgasolineinventoriesontheonehandandadeclineinthevalueoftheUSdollaron
the other. Nymex crude futures traded lower at USD 92.30/barrel while Dated Brent prices
werehigheratUSD111.31/barrel.WTICushingpricesweredownatUSD92.30/barrel.
Crude oil prices fell on November 28 on reports that oil cartel Organization of Petroleum
ExportingCountries(OPEC)willbeincreasingcrudeoilshipments.Nymexcrudefuturestraded
lower at USD 92.27/barrel while Dated Brent prices were down at USD 110.82/barrel. WTI
CushingpriceswereloweratUSD92.27/barrel.
CrudeoilpricesdisplayedamixedundertoneonNovember29onthebackofdecliningcrude
oil production in Libya on one hand and a rise in the value of the US dollar on the other.
Nymex crude futures traded higher at USD 92.72/barrel while Dated Brent prices were lower

11

Crude Oil Graphical Trend

12

PriceMovementCrudeOilduringAugust2013November2013(USD/Barrel)
Grade Nov2013 Last4months(Aug2013Nov2013)
High Low High Low
CrudeOil
NYMEX 95.44 92.27 110.53 92.27
DatedBrent 111.31 103.46 116.61 103.46
WTICushing 95.44 92.27 110.53 92.27
Crude Oil Price Movement

13

NymexCrude DatedBrent WTICushing

Y2013 Y2012 Y2013 Y2012 Y2013 Y2012
1Nov 94.61 87.09 105.91 108.17 94.61 87.09
2Nov 84.86 105.68 84.86
3Nov
4Nov 94.52 106.23 94.52
5Nov 93.37 85.73 105.33 107.73 93.37 85.73
6Nov 94.80 88.71 105.24 111.07 94.80 88.71
7Nov 94.20 84.44 103.46 106.82 94.20 84.44
8Nov 94.60 85.09 105.12 107.25 94.60 85.09
9Nov 86.07 109.40 86.07
10Nov
11Nov 95.14 106.40 95.14
12Nov 93.04 85.57 105.81 109.07 93.04 85.57
13Nov 93.88 85.38 107.12 108.26 93.88 85.38
14Nov 93.76 86.32 108.54 109.61 93.76 86.32
15Nov 93.84 85.45 108.5 108.01 93.84 85.45
16Nov 86.92 108.95 86.92
17Nov
18Nov 93.03 108.47 93.03
19Nov 93.34 89.28 106.92 111.70 93.34 89.28
20Nov 93.85 86.75 108.06 109.83 93.85 86.75
21Nov 95.44 87.38 108.08 110.86 95.44 87.38
22Nov 94.84 87.38 111.05 110.55 94.84 87.38
23Nov 88.28 111.38 88.28
24Nov
25Nov 94.09 111.00 94.09
26Nov 93.68 87.74 110.88 110.92 93.68 87.74
27Nov 92.30 87.18 111.31 109.87 92.3 87.18
28Nov 92.27 86.49 110.86 109.51 92.27 86.49
29Nov 92.72 88.07 109.69 110.76 92.72 88.07
30Nov 88.91 111.23 88.91
Crude Oil Price Comparison

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Open spec naphtha bid prices on November 5 for the 2H of December were assessed at the
USD937//mtCFRFarEastlevelswhiletheaskratewasattheUSD939/mtCFRFarEastlevels.
Theforwardnaphthamarketpriceindicationsforthe2HofDecemberweredownattheUSD
936.50/mtlevels.
Open spec naphtha bid prices on November 6 for the 2H of December were assessed at the
USD931/mtCFRFarEastlevelswhiletheaskratewasattheUSD933/mtCFRFarEastlevels.
Theforwardnaphthamarketpriceindicationsforthe2HofDecemberweredownattheUSD
928/mtlevels.
OpenspecnaphthabidpricesonNovember7forthe2HofDecemberwereassessedlowerat
the USD 920.50/mt CFR Far East levels while the ask rate was at the USD 922.50/mt CFR Far
Eastlevels.Theforwardnaphthamarketpriceindicationsforthe2HofDecemberweredown
attheUSD910.50/mtlevels.
OpenspecnaphthabidpricesonNovember8forthe2HofDecemberwereassessedlowerat
Eastlevels.Theforwardnaphthamarketpriceindicationsforthe2HofDecemberwereupat
theUSD932/mtlevels.
OpenspecnaphthabidpricesonNovember11forthe2HofDecemberwereassessedhigher
attheUSD937/mtCFRFarEastlevelswhiletheaskratewasattheUSD939/mtCFRFarEast
levels. The forward naphtha market price indications for the 2H of December were up at the
USD943.50/mtlevels.
OpenspecnaphthabidpricesonNovember12forthe2HofDecemberwereassessedatthe
USD941.50/mtCFRFarEastlevelswhiletheaskratewasattheUSD943.50/mtCFRFarEast
levels. The forward naphtha market price indications for the 2H of December were down at
theUSD937.50/mtlevels.
OpenspecnaphthabidpricesonNovember13forthe2HofDecemberwereassessedatthe
The forward naphtha market price indications for the 2H of December were up at the USD
948.50/mtlevels.
OpenspecnaphthabidpricesonNovember14forthe2HofDecemberwereassessedhigher
attheUSD956/mtCFRFarEastlevelswhiletheaskratewasattheUSD958/mtCFRFarEast
Naphtha Summary

15

levels. The forward naphtha market price indications for the 2H of December were up at the
USD965.50/mtlevels.
OpenspecnaphthabidpricesonNovember15forthe2HDecemberofwereassessedatthe
The forward naphtha market price indications for the 1H of January were down at the USD
952/mtlevels.
OpenspecnaphthabidpricesonNovember18forthe1HJanuarywereassessedloweratthe
The forward naphtha market price indications for the 1H of January were up at the USD
948/mtlevels.
OpenspecnaphthabidpricesonNovember19forthe1HJanuarywereassessedloweratthe
The forward naphtha market price indications for the 1H of January were down at the USD
935.50/mtlevels.
945.50/mtCFRFarEastlevelswhiletheaskratewasattheUSD947.50/mtCFRFarEastlevels.
The forward naphtha market price indications for the 1H of January were up at the USD
951.50/mtlevels.
OpenspecnaphthabidpricesonNovember21forthe1HofJanuarywereassessedhigherat
Eastlevels.Theforwardnaphthamarketpriceindicationsforthe1HofJanuarywereupatthe
USD974/mtlevels.
Eastlevels.Theforwardnaphthamarketpriceindicationsforthe1HofJanuaryweredownat
theUSD965.50/mtlevels.
Open spec naphtha bid prices on November 25 for the 1H of January were assessed lower at
USD981.50/mtlevels.

16

USD976/mtlevels.
the USD 972/mt CFR Far East levels while the ask rate was at the USD 974/mt CFR Far East
levels.Theforwardnaphthamarketpriceindicationsforthe1HofJanuarywereupattheUSD
973.50/mtlevels.
Open spec naphtha bid prices on November 28 for the 1H of January were assessed lower at
the USD 968/mt CFR Far East levels while the ask rate was at the USD 970/mt CFR Far East
levels. The forward naphtha market price indications for the 1H of January were down at the
USD964/mtlevels.
969/mtCFRFarEastlevelswhiletheaskratewasattheUSD971/mtCFRFarEastlevels.The
forward naphtha market price indications for the 1H of January were down at the USD
960.50/mtlevels.

17

Naphtha Graphical Trend

18

LLDPE prices inched up in Asia during week 1. The price rise was attributed to firmer LLDPE
futuresontheDalianCommodityExchangeinChina.OnNovember8,CFRFarEastAsiaprices
of LLDPE were assessed at the USD 1540/mt mark, a week on week gain of USD 10/mt while
CFRSouthEastAsiapriceswereassessedhigherattheUSD1540/mtmark,upUSD10/mton
theweek.CFRSouthAsiapriceswereassessedhigherattheUSD1490/mtlevels,ariseofUSD
5/mt.InthedomesticmarketsofChina,LLDPEpriceswereassessedupattheYuan11920/mt
exworkslevels.
LLDPEpricesdeclinedinpartsofAsiaduringweek2.OnNovember15,CFRFarEastAsiaprices
of LLDPE were assessed at the USD 1525/mt mark, a week on week drop of USD 10/mt. The
pricefallwastriggeredbysluggishbuyingsentimentsintheregion.CFRSouthEastAsiaprices
wereassessedflatattheUSD1540/mtmark.CFRSouthAsiapriceswereassessedunchanged
at the USD 1490/mt levels. In the domestic markets of China, LLDPE prices were assessed at
theYuan11920/mtexworkslevels.
LLDPE prices in Asia were assessed mixed during week 3. Buying activity was reported to be
steadyintheregion.OnNovember22,CFRFarEastAsiapricesofLLDPEwereassessedupat
the USD 1535/mt mark, a week on week rise of USD 10/mt. CFR South East Asia prices were
assessed down at the USD 1535/mt mark, a fall of USD 5/mt. CFR South Asia prices were
assessedflatattheUSD1490/mtlevels.InthedomesticmarketsofChina,LLDPEpriceswere
assessedhigherattheYuan11920/mtexworkslevels.
LLDPE prices climbed in Asia during week 4. The price rise attributed to improved buying
sentimentsintheregion.OnNovember29,CFRFarEastAsiapricesofLLDPEwereassessedup
attheUSD1555/mtmark,aweekonweekriseofUSD20/mt.CFRSouthEastAsiapriceswere
assessed higher at the USD 1545/mt mark, a gain of USD 10/mt. CFR South Asia prices were
assessed up at the USD 1510/mt levels. In the domestic markets of China, LLDPE prices were
assessedattheYuan11920/mtexworkslevels.InIndia,PetroRabigh,SaudiArabiahasoffered
its LLDPE film grade at the USD 1500/mt levels while Qamar is heard to have offered LLDPE
filmgradeattheUSD15101520/mtlevels.TheseoffersareforDecember2013shipment,on
aCIFNhavaShevaportbasis.
A. Polymers
A.1 LLDPE Summary

19

A1(a)PolymersAverageweeklypriceofLLDPEFilm@CFRIndiaBasis
forNovember2013(USD/Tonne)
Grade Market W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Film
South
Korea
1520 1520 1520 1520 1520 1520 1520 1506
Singapore 1530 1530 1530 1530 1530 1530 1530 1516
Thailand 1520 1520 1520 1520 1520 1520 1520 1506
Saudi
Arabia
1490 1490 1490 1490 1490 1490 1490 1476
Kuwait 1480 1480 1480 1480 1480 1480 1480 1466
A.1 LLDPE Price Chart & Graphical Trend

20

A1(b)PolymersAverageweeklypriceofLLDPERotoMoulding
@CFRIndiaBasisforNovember2013(USD/Tonne)
Nov
13
Oct
13
Sep
13
Aug
13
RotoMoulding
South
Korea
1540 1540 1540 1540 1540 1540 1540 1526
Saudi
Arabia
1540 1540 1540 1540 1540 1540 1540 1526

21

A1(c)PolymersAverageweeklypriceofLLDPEInjection
Nov
13
Oct
13
Sep
13
Aug
13
InjectionMoulding
South
Korea
1560 1560 1560 1560 1560 1560 1560 1546
Singapore 1560 1560 1560 1560 1560 1560 1560 1546
Thailand 1550 1550 1550 1550 1550 1550 1550 1536
Saudi
Arabia
1540 1540 1540 1540 1540 1540 1540 1526

22

PriceMovementofLLDPECFRIndiabasisduringAugust2013
toNovember2013(USD/Tonne)
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Film
South
Korea
1520 1520 1520 1490
Singapore 1530 1530 1530 1500
Thailand 1520 1520 1520 1490
Saudi
Arabia
1490 1490 1490 1460
Kuwait 1480 1480 1480 1450
RotoMoulding
South
Korea
1540 1540 1540 1510
Saudi
Arabia
1540 1540 1540 1510
InjectionMoulding
South
Korea
1560 1560 1560 1530
Singapore 1560 1560 1560 1530
Thailand 1550 1550 1550 1520
Saudi
Arabia
1540 1540 1540 1510
Metallocene
Singapore 1760 1700 1760 1700
A.1 LLDPE Price Movement

23

LDPE prices marched higher in Asia during week 1. Continued tight product availability in the
region supported the price rise. On November 8, CFR Far East Asia prices of LDPE were
assessedupattheUSD1675/mtmark,againofUSD15/mtontheweek.CFRSouthEastAsia
priceswereassessedhigherattheUSD1675/mtmark,aweekonweekriseofUSD10/mt.In
China,domesticratesofLDPEwereassessedupattheYuan13570/mtexworkslevels.
LDPE prices were assessed lower in Asia during week 2. On November 15, CFR Far East Asia
prices of LDPE were assessed down at the USD 1665/mt mark a drop of USD/5 mt. on the
week. CFR South East Asia prices were assessed lower at the USD 1670/mt mark, a week on
week fall of USD 5/mt. Prices fell on the back of weak buying interest in the region. In the
domestic markets of China, prices of LDPE were assessed up at the Yuan 13670/mt ex works
levels.
LDPEpricesedgedlowerinpartsofAsiaduringweek3.CFRFarEastAsiapricesofLDPEwere
assesseddownattheUSD1670/mtmark,aweekonweekfallofUSD5/mt.Pricesfellonthe
back of weak buying interest in the region. CFR South East Asia prices were assessed
unchanged at the USD 1670/mt mark. In China, domestic rates of LDPE were assessed up at
theYuan13820/mtexworkslevels.
LDPE prices climbed in Asia during week 4. Prices firmed on the back of tight product
availabilityintheregion.OnNovember29,CFRFarEastAsiapricesofLDPEwereassessedup
at the USD 1720/mt mark. CFR South East Asia prices were assessed higher at the USD
1690/mt mark, a rise of USD 20/mt on the week. In China, domestic rates of LDPE were
assessedupattheYuan13970/mtexworkslevels.
A.2 LDPE Summary

24

A2(a)PolymersAverageweeklypriceofLDPEGeneralPurpose
Nov
13
Oct
13
Sep
13
Aug
13
GeneralPurpose
South
Korea
1570 1570 1570 1570 1570 1570 1555 1530
Singapore 1580 1580 1580 1580 1580 1580 1565 1540
Thailand 1570 1570 1570 1570 1570 1570 1555 1530
Qatar 1550 1550 1550 1550 1550 1550 1535 1510

A.2 LDPE Price Chart & Graphical Trend

25

A2(b)PolymersAverageweeklypriceofLDPEHeavyDuty@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
HeavyDuty
South
Korea
1570 1570 1570 1570 1570 1570 1555 1530
Singapore 1580 1580 1580 1580 1580 1580 1565 1540
Thailand 1570 1570 1570 1570 1570 1570 1555 1530
Qatar 1550 1550 1550 1550 1550 1550 1535 1510

26

A2(c)PolymersAverageweeklypriceofLDPEMilkPouch@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
MilkPouch
South
Korea
1570 1570 1570 1570 1570 1570 1555 1530
Singapore 1580 1580 1580 1580 1580 1580 1565 1540
Thailand 1570 1570 1570 1570 1570 1570 1555 1530
Qatar 1550 1550 1550 1550 1550 1550 1535 1510

27

A2(d)PolymersAverageweeklypriceofLDPEInjectionMoulding@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
InjectionMoulding
South
Korea
1590 1590 1590 1590 1590 1590 1575 1550
Singapore 1600 1600 1600 1600 1600 1600 1585 1560
Thailand 1600 1600 1600 1600 1600 1600 1585 1560

28

PriceMovementofLDPECFRIndiabasisduring
August2013toNovember2013(USD/Tonne)
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
GeneralPurpose
South
Korea
1570 1570 1570 1520
Singapore 1580 1580 1580 1530
Thailand 1570 1570 1570 1520
Qatar 1550 1550 1550 1500
HeavyDuty
South
Korea
1570 1570 1570 1520
Singapore 1580 1580 1580 1530
Thailand 1570 1570 1570 1520
Qatar 1550 1550 1550 1500
MilkPouch
South
Korea
1570 1570 1570 1520
Singapore 1580 1580 1580 1530
Thailand 1570 1570 1570 1520
Qatar 1550 1550 1550 1500
InjectionMoulding
South
Korea
1590 1590 1590 1540
Singapore 1600 1600 1600 1550
Thailand 1600 1600 1600 1550
Lamination
Qatar 1750 1750 1750 1670
A.2 LDPE Price Movement

29

Despitesofterbuyingsentiments,HDPEpricesedgedhigherinAsiaduringweek1.InFarEast
Asia, HDPE film prices on November 8 were assessed at the USD 1530/mt CFR Far East Asia
levels, a week on week rise of USD 5/mt. HDPE yarn prices were assessed up at the USD
1540/mtlevels,ariseofUSD5/mtontheweek.HDPEblowmouldingpriceswereassessedflat
at the USD 1490/mt levels while HDPE injection prices were assessed unchanged at the USD
1485/mtCFRFarEastAsialevels.InSouthEastAsia,HDPEfilmpriceswereassessedhigherat
theUSD1535/mtCFRlevels,againofUSD5/mt.PricesofHDPEBMandHDPEinjectionwere
assessed up at the USD 1520/mt levels, a rise of USD 5/mt. HDPE yarn prices were assessed
higher at the USD 1545/mt levels, up USD 15/mt on the week. In South Asia, prices of HDPE
injection and HDPE BM were assessed up at the USD 1480/mt levels. HDPE film prices were
assessed higher at the USD 1490/mt levels, a week on week rise of USD 5/mt. In China, local
prices of HD film were assessed up at the Yuan 11720/mt ex works levels. In plant news,
YansabisexpectedtoresumeproductionatitspetrochemicalcomplexatYanbu,SaudiArabia,
during week 2. The complex was shut on October 23, 2013 owing to technical issues. The
complex can produce ethylene with production capacity of 1.3 mmt/year, propylene capacity
of700,000mt/yearandHDPE,LDPEandPPwithcapacityof400,000mt/yeareach.
HDPE prices were assessed stable in Asia during week 2. The purchase pulse continued to
remain dull in the region. On November 15, HDPE film prices were assessed flat at the USD
1530/mtCFRFarEastAsialevels.HDPEblowmouldingpriceswereassessedstableattheUSD
1490/mtlevelswhileHDPEinjectionpriceswereassessedunchangedattheUSD1485/mtCFR
FarEastAsialevels.HDPEyarnpriceswereassesseddownattheUSD1535/mtlevels,afallof
USD5/mtontheweek.InSouthEastAsia,HDPEfilmpriceswereassessedsteadyattheUSD
1535/mtCFRlevels.HDPEBMgradewereassessedflatattheUSD1520/mtlevels.HDPEyarn
prices were assessed unchanged at the USD 1545/mt levels. Prices of HDPE injection were
assessed down at the USD 1515/mt CFR South East Asia levels, a fall of USD 5/mt from the
previousweek.InSouthAsia,pricesofHDPEinjectionandHDPEBMwereassessedflatatthe
USD 1480/mt levels. HDPE film prices were assessed stable at the USD 1490/mt levels. In
China,localpricesofHDfilmwereassessedattheYuan11720/mtexworkslevels.
HDPE prices were assessed mixed in Asia during week 3. The purchase pulse was reported to
be muted in the region. In South East Asia, HDPE film prices were assessed down at the USD
1525/mtCFRlevels,aweekonweekfallofUSD10/mt,whilepricesofHDPEBMwereassessed
lowerattheUSD1510/mtlevels,adropofUSD5/mt.HDPEInjectionpricesweredownatthe
USD 1505/mt levels a fall of USD 5/mt. HDPE yarn prices were assessed down at the USD
1540/mt levels, a week on week decline of USD 5/mt. In South Asia, prices of HDPE injection
andHDPEBMwereassesseddownattheUSD1475/mtlevels,afallofUSD5/mtontheweek.
A.3 HDPE Summary

30

HDPE film prices were assessed at the USD 1485/mt levels, a drop of USD 5/mt. In Far East
Asia,priceswereleftunchangedfromthepreviousweek,HDPEinjectionmouldingpriceswere
assessed at the USD 1485/mt levels. HDPE blow moulding prices were assessed at the USD
1490/mtCFRlevels.HDPEfilmpriceswereassessedattheUSD1530/mtCFRlevelswhileHDPE
yarnpriceswereattheUSD1535/mtlevels.InChina,localpricesofHDfilmwereattheYuan
11920/mtexworkslevels.
HDPE prices finished sharply higher in Asia during week 4. Improved buying trends in the
region supported the price climb. In Far East Asia, prices of HDPE injection moulding were
assessedupattheUSD1510/mtlevels,againofUSD25/mtontheweek.HDPEblowmoulding
priceswereassessedhigherattheUSD1520/mtCFRlevels,asharpriseofUSD30/mtonthe
week. HDPE yarn prices were higher at the USD 1550/mt levels, up USD 15/mt on the week.
OnNovember29,HDPEfilmpriceswereassessedupattheUSD1550/mtCFRlevels.InSouth
EastAsia,HDPEfilmpriceswereassessedupattheUSD1530/mtCFRlevels,aweekonweek
riseofUSD5/mt,whilepricesofHDPEBMwereassessedhigherattheUSD1520/mtlevels,a
gainofUSD10/mt.HDPEInjectionpriceswereupattheUSD1510/mtlevels,aweekonweek
increaseofUSD5/mt.HDPEyarnpriceswereassessedhigherattheUSD1550/mtlevels,arise
of USD 10/mt. In South Asia, prices of HDPE injection and HDPE BM were assessed up at the
USD1500/mtlevels,asharpgainofUSD25/mtontheweek.HDPEfilmpriceswereassessed
higherattheUSD1510/mtlevels,ariseofUSD25/mt.InChina,localpricesofHDfilmwereat
the Yuan 11920/mt ex works levels. In India, Qamar, Saudi Arabia has offered its HDPE film
gradeattheUSD15101520/mtwhilePetroRabighisheardtohaveoffereditsHDPEfilmgrade
at the USD 1510/mt levels. These offers are on a CIF Nhava Sheva port basis for shipment in
December 2013. In Pakistan, Sabic, Saudi Arabia is heard to have offered HDPE film grade at
theUSD1500/mtlevelswhileHDPEBMgradeisofferedattheUSD1500/mt.Theproduceris
offering its HDPE injection grade at the USD 1530/mt levels. These offers are for December
2013shipment,onaCNFKarachiportbasis.

31

A3(a)PolymersAverageweeklypriceofHDPERaffia@CFRIndiaBasisfor
November2013(USD/Tonne)
Nov
13
Oct
13
Sep
13
Aug
13
Raffia
South
Korea
1540 1540 1540 1540 1540 1540 1540 1526
Thailand 1530 1530 1530 1530 1530 1530 1530 1516
A.3 HDPE Price Chart & Graphical Trend

32

A3(b)PolymersAverageweeklypriceofHDPEFilm@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
Film
South
Korea
1520 1520 1520 1520 1520 1520 1520 1506
Singapore 1510 1510 1510 1510 1510 1510 1510 1496
Thailand 1520 1520 1520 1520 1520 1520 1520 1506
Saudi
Arabia
1490 1490 1490 1490 1490 1490 1493 1486
Kuwait 1480 1480 1480 1480 1480 1480 1487 1486

33

A3(c)PolymersAverageweeklypriceofHDPEInjectionMoulding@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
InjectionMoulding
South
Korea
1530 1530 1530 1530 1530 1530 1530 1516
Singapore 1520 1520 1520 1520 1520 1520 1520 1506
Thailand 1540 1540 1540 1540 1540 1540 1540 1526
Saudi
Arabia
1510 1510 1510 1510 1510 1510 1513 1506

34

A3(d)PolymersAverageweeklypriceofHDPEBlowMoulding@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
BlowMoulding
South
Korea
1510 1510 1510 1510 1510 1510 1510 1496
Singapore 1520 1520 1520 1520 1520 1520 1520 1506
Thailand 1520 1520 1520 1520 1520 1520 1520 1506

35

PriceMovementofHDPECFRIndiabasisduring
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Raffia
SouthKorea 1540 1540 1540 1510
Thailand 1530 1530 1530 1500
Film
SouthKorea 1520 1520 1520 1490
Singapore 1510 1510 1510 1480
Thailand 1520 1520 1520 1490
SaudiArabia 1490 1490 1500 1470
Kuwait 1480 1480 1500 1470
InjectionMoulding
SouthKorea 1530 1530 1530 1500
Singapore 1520 1520 1520 1490
Thailand 1540 1540 1540 1510
SaudiArabia 1510 1510 1520 1490
BlowMoulding
SouthKorea 1510 1510 1510 1480
Singapore 1520 1520 1520 1490
Thailand 1520 1520 1520 1490
Pipe
SouthKorea 1540 1540 1540 1510
HMHD
SouthKorea 1570 1570 1570 1540
Singapore 1550 1550 1550 1520

A.3 HDPE Price Movement

36

Polypropylene(PP)pricesfirmedinAsiaduringweek1.Thepricerisewastriggeredbyfirmer
feedstock propylene values. On November 8, CFR Far East Asia prices of PP raffia and PP
injectionwereassessedupattheUSD1525/mtlevels,aweekonweekriseofUSD20/mt.PP
raffiaandPPinjectionpriceswereassessedflatattheUSD1515/mtCFRSouthEastAsialevels.
PPblockcopolymerpriceswereassessedhigherattheUSD1545/mtCFRFarEastAsialevels,
up USD 15/mt on the week. CFR South East Asia prices of PP block copolymer were assessed
higher at the USD 1560/mt levels, a gain of USD 15/mt. BOPP prices were assessed up at the
USD1530/mtCFRFarEastAsialevels,aweekonweekgainofUSD15/mtwhileCFRSouthEast
AsiapricesofBOPPwereassessedhigherattheUSD1535/mtlevels.CFRFarEastAsia,PPfilm
priceswereassessedupattheUSD1540/mtlevels,againofUSD15/mt.CFRSouthEastAsia
pricesofPPfilmwerehigherattheUSD1535/mtlevels,ariseofUSD10/mt.InSouthAsia,PP
raffiaandPPinjectionpriceswereassessedupattheUSD1500/mtlevels,aweekonweekrise
of USD 15/mt. PP film prices were assessed higher at the USD 1525/mt levels, up USD 10/mt
ontheweek.PPblockcopolymerpriceswereassessedhigherattheUSD1530/mtlevels.BOPP
prices were assessed up the USD 1525/mt CFR South Asia levels. In the domestic markets of
China,PPpriceswereassessedhigherattheUSD11820/mtexworkslevels.
Despite a fall in feedstock propylene values, polypropylene (PP) prices edged higher in Asia
duringweek2.Buyingactivitywasreportedtobesteadyintheregion.OnNovember15,CFR
FarEastAsiapricesofPPraffiaandPPinjectionwereassessedattheUSD1520/mtlevels.PP
raffia and PP injection prices were assessed higher at the USD 1520/mt CFR South East Asia
levels, a gain of USD 5/mt on the week. PP block copolymer prices were assessed up at the
USD 1555/mt CFR Far East Asia levels, up USD 10/mt. CFR South East Asia prices of PP block
copolymerwereassessedhigherattheUSD1570/mtlevels,againofUSD10/mtontheweek.
BOPP prices were assessed flat at the USD 1530/mt CFR Far East Asia levels while CFR South
East Asia prices of BOPP were assessed unchanged at the USD 1535/mt levels. CFR Far East
Asia,PPfilmpriceswereassessedflatattheUSD1540/mtlevels.CFRSouthEastAsiapricesof
PPfilmweresteadyattheUSD1535/mtlevels.InSouthAsia,PPraffiaandPPinjectionprices
were assessed stable at the USD 1500/mt levels. PP film prices were assessed higher at the
USD 1530/mt levels, up USD 5/mt on the week. PP block copolymer prices were assessed
unchanged at the USD 1530/mt levels. BOPP prices were assessed flat the USD 1525/mt CFR
South Asia levels. In the domestic markets of China, PP prices were assessed up at the USD
11970/mtexworkslevels.
Polypropylene(PP)priceswereassessedmixedinAsiaduringweek3.CFRFarEastAsiaprices
ofPPraffiawereassesseddownattheUSD1520/mtlevels,aweekonweekfallofUSD5/mt.
PricesofPPinjectionwereassessedlowerattheUSD1520/mtCFRFarEastAsialevels,adrop
A.4 PP Summary

37

of USD 5/mt on the week. PP raffia and PP injection prices were assessed lower at the USD
1515/mt CFR South East Asia levels, a fall of USD 5/mt. PP block copolymer prices were
assessed flat at the USD 1555/mt CFR Far East Asia levels. CFR South East Asia prices of PP
block copolymer were assessed down at the USD 1565/mt levels, a fall of USD 5/mt on the
week. BOPP prices were assessed up at the USD 1535/mt CFR Far East Asia levels,a week on
week rise of USD 5/mt while CFR South East Asia prices of BOPP were assessed lower at the
USD1530/mtlevels,aweekonweekdownofUSD5/mt.CFRFarEastAsia,PPfilmpriceswere
assessed at the USD 1540/mt levels. CFR South East Asia prices of PP film were lower at the
USD1530/mtlevels,downatUSD5/mtontheweek.InSouthAsia,PPraffiaandPPinjection
priceswereleftunchangedattheUSD1500/mtlevels.PPfilmpriceswereassessedattheUSD
1530/mt levels. PP block copolymer prices were assessed at the USD 1530/mt levels. BOPP
prices were assessed the USD 1525/mt CFR South Asia levels. In the domestic markets of
China,PPpriceswereassessedattheyuan11970/mtexworkslevels.
Polypropylene (PP) prices were assessed mixed in Asia during week 4. On November 29, CFR
FarEastAsiapricesofPPraffiaandPPinjectionwereassessedupattheUSD1540/mtlevels.
PPraffiaandPPinjectionpriceswereassessedhigherattheUSD1525/mtCFRSouthEastAsia
levels,ariseofUSD10/mtontheweek.PPblockcopolymerpriceswereassesseddownatthe
USD 1550/mt CFR Far East Asia levels, a week on week fall of USD 5/mt. CFR South East Asia
prices of PP block copolymer were assessed lower at the USD 1560/mt levels, a fall of USD
5/mtontheweek.BOPPpriceswereassessedupattheUSD1540/mtCFRFarEastAsialevels,
ariseofUSD5/mtwhileCFRSouthEastAsiapricesofBOPPwereassessedhigherattheUSD
1540/mt levels, a gain of USD 10/mt. CFR Far East Asia, PP film prices were assessed
unchangedattheUSD1540/mtlevels.CFRSouthEastAsiapricesofPPfilmwerehigheratthe
USD 1540/mt levels, up at USD 10/mt. In South Asia, prices PP raffia and PP injection were
assessed down at the USD 1495/mt levels, a drop of USD 5/mt. PP film prices were assessed
lowerattheUSD1515/mtlevels,downUSD15/mt.PPblockcopolymerpriceswereassessed
flatattheUSD1530/mtlevels.BOPPpriceswereassessedlowertheUSD1515/mtCFRSouth
Asia levels. In the domestic markets of China, PP prices were assessed up at the yuan
12120/mtexworkslevels.InIndia,LyondellBasell,SaudiArabiaisheardtohaveoffereditsPP
raffia and PP injection grades at the USD 14901500/mt levels while Oman PP, Oman has
offered its PP raffia and PP injection grades at the USD 1520/mt levels. PetroRabigh has
offered its PP raffia andPP injection moulding grades at the USD 15201530/mt levels. These
offersareforDecember2013shipment,onaCIFNhavaShevaportbasis.

38

A4(a)PolymersAverageweeklypriceofPPRaffia@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
Raffia
South
Korea
1505 1505 1505 1505 1505 1505 1499 1483
Singapore 1505 1505 1505 1505 1505 1505 1499 1483
Thailand 1505 1505 1505 1505 1505 1505 1499 1483
Saudi
Arabia
1493 1500 1500 1500 1498 1500 1492 1473
A.4 PP Price Chart & Graphical Trend

39

A4(b)PolymersAverageweeklypriceofPPInjectionMoulding@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
InjectionMoulding
South
Korea
1505 1505 1505 1505 1505 1505 1499 1483
Singapore 1505 1505 1505 1505 1505 1505 1499 1483
Thailand 1505 1505 1505 1505 1505 1505 1499 1483
Saudi
Arabia
1493 1500 1500 1500 1498 1500 1492 1473

40

A4(c)PolymersAverageweeklypriceofPPTQFilm@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
TQFilm
South
Korea
1535 1535 1535 1535 1535 1535 1529 1513
Singapore 1535 1535 1535 1535 1535 1535 1529 1513
Thailand 1535 1535 1535 1535 1535 1535 1529 1513
Saudi
Arabia
1510 1520 1520 1520 1518 1520 1512 1493

41

A4(d)PolymersAverageweeklypriceofPPBlockCopolymer@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
BlockCopolymer
South
Korea
1575 1575 1575 1575 1575 1575 1572 1563
Singapore 1535 1535 1535 1535 1535 1535 1532 1523
Thailand 1535 1535 1535 1535 1535 1535 1532 1523

42

A4(e)PolymersAverageweeklypriceofPPRandomCopolymer@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
RandomCopolymer
South
Korea
1665 1665 1665 1665 1665 1665 1662 1653
Singapore 1665 1665 1665 1665 1665 1665 1662 1653
Thailand 1665 1665 1665 1665 1665 1665 1662 1653

43

A4(f)PolymersAverageweeklypriceofPPBOPP@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
BOPPHomopolymer
South
Korea
1520 1520 1520 1520 1520 1520 1516 1503
Singapore 1520 1520 1520 1520 1520 1520 1516 1503
Thailand 1530 1530 1530 1530 1530 1530 1526 1513

44

PriceMovementofPPCFRIndiabasisduring
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Raffia
SouthKorea 1505 1505 1505 1480
Singapore 1505 1505 1505 1480
Thailand 1505 1505 1505 1480
SaudiArabia 1500 1490 1500 1470
InjectionMoulding
SouthKorea 1505 1505 1505 1480
Singapore 1505 1505 1505 1480
Thailand 1505 1505 1505 1480
SaudiArabia 1500 1490 1500 1470
TQFilm
SouthKorea 1535 1535 1535 1510
Singapore 1535 1535 1535 1510
Thailand 1535 1535 1535 1510
SaudiArabia 1520 1510 1520 1490
BlockCopolymer
SouthKorea 1575 1575 1575 1560
Singapore 1535 1535 1535 1520
Thailand 1535 1535 1535 1520
RandomCopolymer
SouthKorea 1665 1665 1665 1650
Singapore 1665 1665 1665 1650
Thailand 1665 1665 1665 1650
BOPP
SouthKorea 1520 1520 1520 1500
Singapore 1520 1520 1520 1500
Thailand 1530 1530 1530 1510
A.4 PP Price Movement A.4 PP Price Movement

45

PVC prices slipped in Asia during week 1. Prices slipped as regional buying trends turned
sluggish. Buying activity in Asias key market of China was seen particularly slow thereby
sendingoutbearishcuestobuyersinotherpartsoftheregion.CFRChinapricesofPVCwere
assessed down at the USD 955/mt levels, a sharp fall of USD 25/mt on the week. CFR South
EastAsiapricesofPVCwereassessedlowerattheUSD975/mtlevels,aweekonweekdecline
ofUSD5/mt.InChina,domesticpricesofethylenebasedPVCwereassesseddownattheYuan
6980/mt levels while carbide based PVC were lower at the Yuan 6410/mt levels. In India, a
majorSouthKoreanproducerhasconcludeddealsforPVCresinsuspensiongradeattheUSD
1010/mtlevels,onCIFNhavaShevaportbasisforshipmentinNovember2013.
PVCpricesclimbedinpartsofAsiaduringweek2.CFRChinapricesofPVCwereassessedupat
the USD 975/mt levels, a rise of USD 20/mt on the week. The sharp price climb was in
anticipationofariseinPVCdemandsentiments,goingforward.CFRSouthEastAsiapricesof
PVC were assessed steady at the USD 975/mt levels. In China, domestic prices of ethylene
basedPVCwereassessedupattheYuan7010/mtlevelswhilecarbidebasedPVCwereflatat
theYuan6410/mtlevels.
PVC prices marched higher in Asia during week 3. Improved demand trends in the region
supportedthepricerise.CFRChinapricesofPVCwereassessedupattheUSD995/mtlevels,a
riseofUSD20/mtontheweek.CFRSouthEastAsiapricesofPVCwereassessedhigheratthe
USD 985/mt levels, a week on week rise of USD 10/mt. In China, domestic prices of ethylene
basedPVCwereassessedattheYuan7010/mtlevelswhilecarbidebasedPVCwerehigherat
theYuan6460/mtlevels.InIndia,aUSorigincargoisheardtohavebeenofferedattheUSD
1010/mt levels (+ Anti Dumping Duty), on a CIF Nhava Sheva port basis for shipment in
December2013.
PVC prices firmed in Asia during week 4. Firmer upstream ethylene, EDC and VCM rates
pushed prices higher in the region. CFR China prices of PVC were assessed up at the USD
1015/mt levels, a week on week sharp gain of USD 20/mt. CFR South East Asia prices of PVC
were assessed higher at the USD 1000/mt levels, a rise of USD 15/mt on the week. In China,
domestic prices of ethylene based PVC were assessed flat at the Yuan 7010/mt levels while
carbidebasedPVCwereunchangedattheYuan6460/mtlevels.InIndia,Formosa,Taiwanhas
concluded several deals for PVC resin suspension grade at the USD 1030/mt levels, on a CIF
NhavaShevaportbasisforshipmentinDecember2013.
A.5 Polyvinyl Chloride (PVC) Summary

46

A5(a)PolymersAverageweeklypriceofPVCSuspension@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
Suspension
South
Korea
1040 1010 1010 1010 1018 1055 1071 1047
Thailand 1030 1000 1000 1000 1008 1052 1065 1047
Taiwan 1030 1000 1000 1000 1008 1051 1065 1046
A5(b)PolymersAverageweeklypriceofPVCEmulsion@CFRIndiaBasis
Nov
13
Oct
13
Sep
13
Aug
13
Emulsion
South
Korea
1250 1250 1250 1250 1250 1278 1310 1310
Taiwan 1240 1240 1240 1240 1240 1264 1290 1290
A.5 - Polyvinyl Chloride (PVC) Price Chart & Graphical Trend

47

PriceMovementofPVCCFRIndiabasisduring
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Suspension
South
Korea
1040 1010 1080 1010
Thailand 1030 1000 1080 1000
Taiwan 1030 1000 1080 1000
Emulsion
South
Korea
1250 1250 1310 1250
Taiwan 1240 1240 1290 1240

A.5 - Pol yvinyl Chloride (PVC) Price Movement

48

Prices of PS finished sharply lower in Asia during week 1. The price fall was prompted by a
week on week decline in upstream SM costs and sluggish regional buying trends. CFR China,
pricesofGPPSwereassesseddownattheUSD1790/mtlevels,aplungeUSD40/mt.CFRSouth
EastAsiapricesofGPPSwereassessedlowerattheUSD1830/mtlevels,afallofUSD20/mton
theweek.HIPSpriceswereassesseddownattheUSD1840/mtCFRChinamark,asharpdrop
ofUSD30/mtontheweek.CFRSouthEastAsiapricesofHIPSwereassessedlowerattheUSD
1870/mtlevels,adropofUSD20/mt.EPSpriceswerealsoassessedlowerattheUSD1830/mt
FOBNorthEastAsiamarkforgeneralpurposegrades.
PricesofPS driftedlowerinAsiaduringweek2.Pricesdeclinedonthebackofmutedbuying
interestandsofterweekonweekSMfeedstockrates.CFRChina,pricesofGPPSwereassessed
downattheUSD1775/mtlevels,afallofUSD15/mtontheweek.CFRSouthEastAsiaprices
of GPPS were assessed lower at the USD 1800/mt levels, a sharp drop of USD 30/mt. HIPS
prices wereassessed down at the USD 1825/mt CFR China mark, a week on week fall of USD
15/mt. CFR South East Asia prices of HIPS were assessed lower at the USD 1850/mt levels, a
drop of USD 20/mt. EPS prices were also assessed down at the USD 1800/mt FOB North East
Asiamarkforgeneralpurposegrades.
PSpriceswereassessedmixedinAsiaduringweek3.CFRChinapricesofGPPSwereassessed
upattheUSD1780/mtlevels,aweekonweekriseofUSD5/mt.FirmerfeedstockSMvalues
supported the price rise. CFR South East Asia prices of GPPS were assessed flat at the USD
1800/mtlevels.InChina,HIPSpriceswereassessedunchangedattheUSD1825/mtCFRmark.
CFRSouthEastAsiapricesofHIPSwereassesseddownattheUSD1845/mtlevels,downUSD
5/mtontheweek.Pricesdeclinedmainlyonaccountofaplungeinfeedstockbutadienerates.
EPSpricesmeanwhilewereassessedattheUSD1800/mtFOBNorthEastAsiamarkforgeneral
purposegrades.
PS prices drifted lower in Asia during week 4. The price fall was a result of weaker feedstock
SMvaluesanddullbuyingtrendsintheregion.CFRChinapricesofGPPSwereassesseddown
at the USD 1765/mt levels, a week on week fall of USD 15/mt. CFR South East Asia prices of
GPPSwereassessedlowerattheUSD1790/mtlevels,downUSD10/mt.InChina,HIPSprices
wereassesseddownattheUSD1815/mtCFRmark,adropofUSD10/mt.CFRSouthEastAsia
prices of HIPS were assessed lower at the USD 1830/mt levels, down USD 15/mt. EPS prices
meanwhile were assessed flat at the USD 1800/mt FOB North East Asia mark for general
purposegrades.
A.6 Polystyrene (PS) Summary

49

A6PolymersAverageweeklyPolystyreneprices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
PolystyreneGPPS
FarEast 1770 1778 1780 1810 1785 1880 1907 1907
SEAsia 1793 1800 1810 1840 1811 1895 1912 1937
PolystyreneHIPS
FarEast 1818 1825 1830 1855 1832 1918 1939 1938
SEAsia 1835 1847 1857 1880 1855 1926 1939 1965
A.6 Polystyrene (PS) Price Chart & Graphical Trend

50

PriceMovementofPSduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
PolystyreneGPPS
FarEast 1830 1765 1925 1765
SEAsia 1850 1790 1945 1790
PolystyreneHIPS
FarEast 1870 1815 1955 1815
SEAsia 1890 1830 1990 1830
A.6 Polystyrene (PS) Price Movement

51

ABS prices in Asia dropped during week 1. Prices fell on the back of subdued regional buying
sentiments.ThepricefallwasfurthersupportedbyweakerupstreamfeedstockSM,butadiene
andACNvalues.CFRChinapricesofABSwereassessedlowerattheUSD1880/mtlevels,afall
ofUSD10/mtontheweek.CFRSouthEastAsiapricesofABSwereassesseddownattheUSD
1880/mtCFRlevels,aweekonweekdropofUSD35/mt.
ABSpricesincheddowninpartsofAsiaduringweek2.CFRChinapricesofABSwereassessed
lowerattheUSD1875/mtlevels,afallofUSD5/mtontheweek.Thepricefallwasontheback
of weaker feedstock SM, butadiene and ACN values. CFR South East Asia prices of ABS were
assessedsteadyattheUSD1880/mtCFRlevels.InIndia,aSouthKoreanproducerhasoffered
ABSresinattheUSD1920/mtCIFNhavaShevaportbasisforshipmentinNovember2013.In
China,FormosaChemicalsandFiberCorp,TaiwanisheardtohaveoffereditsABSresinatthe
USD1910/mtCFRlevels.ASouthKoreanproducerisofferingitsABSresinattheUSD1880/mt
CFRlevels.
ABSpricesedgeddowninpartsofAsiaduringweek3.CFRChinapricesofABSwereassessed
lowerattheUSD1870/mtlevels,afallofUSD5/mt.Thepricefallwasonthebackofasteep
dropinfeedstockbutadienevalues.CFRSouthEastAsiapricesofABSwereassessedsteadyat
theUSD1880/mtCFRlevels.
WeakdemandtrendspushedABSpriceslowerinAsiaduringweek4.CFRChinapricesofABS
were assessed lower at the USD 1860/mt levels, a fall of USD 10/mt on the week. CFR South
East Asia prices of ABS were assessed down at the USD 1875/mt CFR levels, a week on week
drop of USD 5/mt. In China, Formosa Chemicals and Fiber Corp, Taiwan is heard to have
offereditsABSresinattheUSD1920/mtCFRlevels.
A.7 ABS Summary

52

A7PolymersAverageweeklyABSpricesonCFRIndiabasis
Nov
13
Oct
13
Sep
13
Aug
13
ABS
South
Korea
1910 1915 1930 1980 1934 1980 1950 1950
Thailand 1920 1925 1940 1990 1944 1990 1960 1960
PriceMovementofABSonCFRIndiabasisduring
Grade Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
ABS
SouthKorea 1980 1910 1980 1910
Thailand 1990 1920 1990 1920
A.7 ABS Price Movement
A.7 ABS Price Chart & Graphical Trend

53

Despiteafallinupstreamenergyvalues,benzenepricesinchedhigherinAsiaonNovember5.
Improvedbuyinginterestintheregionsupportedthepricerise.FOBKoreapricesofbenzene
wereassessedupattheUSD1235/mtlevels,adayondayriseofUSD5/mt.
Benzene prices in Asia declined during week 1. The price fall was on the back of softer
upstream energy values and a drop in downstream SM rates. Supporting the price fall were
sufficientproductavailabilityintheregion.On November8,pricesofbenzenewereassessed
downattheUSD1220/mtFOBKoreamark,aweekonweekfallofUSD10/mt.
Benzene prices in Asia climbed on November 11. Prices gained on the back of a rise in
upstreamenergy values coupled with improved demand sentimentsin the region. FOB Korea
prices of benzene were assessed up at the USD 1230/mt levels, a rise of USD 15/mt from
November 8 assessed levels. A rise in benzene prices in the US supported the price gain. In
plant news, Pertamina is likely to shut its aromatics plant, located at Cilacap, Indonesia, for a
maintenanceturnaroundinSeptember2014.Theplantisexpectedtoremainshutforaround
4045 days and it has a production capacity of 110,000 mt/year of benzene and 270,000
mt/yearofPX.
BenzenepricesinAsiamarchedhigheronNovember13.Thepricerisewasaresultofgainsin
upstream energy values and a rise recorded in downstream SM rates. FOB Korea prices of
benzenewereassessedupattheUSD1240/mtlevels,adayondayriseofUSD10/mt.Firmer
benzenevaluesintheUSfurthersupportedthepricerise.
Benzene prices in Asia inched higher on November 14. The price gain was a result of higher
downstreamSMvalues.AriseinupstreamBrentcrudeandnaphthavaluesfurthersupported
thepricerise.FOBKoreapricesofbenzenewereassessedupattheUSD1250/mtlevels,aday
ondayriseofUSD10/mt.
Benzene prices in Asia marched higher during week 2. A week on week rise in downstream
AsianSMratessupportedthepricerise.OnNovember15,pricesofbenzenewereassessedup
attheUSD1255/mtFOBKoreamark,asharpweekonweekriseofUSD35/mt.Inplantnews,
SinopecHainanisinplanstostartanewaromaticsplantinDecember2013.LocatedinHainan,
China, the plant has a paraxylene production capacity of 600,000 mt/year and benzene
productioncapacityof200,000mt/year.
B. Aromatics
B1 Benzene Summary

54

Despiteafallinupstreamenergyvalues,benzenepricesinAsiaonNovember18edgedhigher.
Prices climbed on the back of improved buying sentiments in the region and a rise in
downstream SM rates. FOB Korea prices of benzene were assessed up at the USD 1260/mt
levels,ariseofUSD5/mtfromNovember15assessedlevels.
OnNovember19,benzenepricesinAsiaedgedlower.Thepricefallwaspromptedbyweaker
upstream brent crude values coupled with a fall in downstream SM rates. FOB Korea prices
wereassesseddownattheUSD1255/mtlevels,adropofUSD5/mtontheday.
Benzene prices in Asia marched higher on November 20. A combination of triggers were
responsible for the price rise including a lift in regional buying interest and gains in
downstream SM values. FOB Korea prices of benzene were assessed up at the USD 1275/mt
levels, a sharp day on day gain of USD 20/mt. Firmer benzene prices inthe US supported the
pricerise.
Benzene prices in Asia leapt higher during week 3. Bullish crude prices, strength in naphtha
costsandrobustbuyingactivitywitnessedintheregion,supportedthepriceclimb.Alsobullish
for benzene were gains recorded in downstream SM values. On November 22, prices of
benzene were assessed up at the USD 1300/mt FOB Korea mark, a sharp increase of USD
45/mtontheweek.FirmerbenzenevaluesintheUSfurthersupportedthepricerise.Inplant
news,SinopecHainanisinplanstostartanewaromaticsplantinDecember2013.Locatedin
Hainan, China, the plant has a paraxylene production capacity of 600,000 mt/year and
benzeneproductioncapacityof200,000mt/year.
Benzene prices in Asia slipped on November 25. The price fall was attributed to weaker
upstreamcruderatesandadropindownstreamSMvalues.FOBKoreapricesofbenzenewere
assessed down at the USD 1285/mt levels, a fall of USD 15/mt from November 22 assessed
levels.AdropinbenzeneratesintheUSsupportedthepricefall.
Despiteafallinupstreamcrudevalues,benzenepricesinAsiaonNovember26edgedhigher.
Thepricerisewasattributedtoimprovedbuyingsentimentsintheregion.FOBKoreapricesof
benzenewereassessedupattheUSD1290/mtlevels,adayondayriseofUSD5/mt.
BenzenepricesinAsiamarchedhigheronNovember27.Pricesgainedonthebackofarisein
upstream Brent crude and downstream SM values coupled with strong buying trends
witnessed in the region. FOB Korea prices of benzene were assessed up at the USD 1305/mt
levels,ariseofUSD15/mtontheday.

55

Benzene prices bolstered higher in Asia on November 27. Gains came on the back of strong
demand trends in the region. FOB Korea prices of benzene were assessed up at the USD
1330/mtlevels,asharpdayondaygainofUSD25/mt.Thepricerisewasfurthersupportedby
higherbenzenevaluesinEuropeandtheUS.
Benzene prices in Asia firmed during week 4. Strong demand trends in the region supported
thepricegain.FirmerbenzenevaluesintheUSfurthersupportedthepricerise.OnNovember
29,pricesofbenzenewereassessedupattheUSD1330/mtFOBKoreamark,asharpincrease
of USD 30/mt on the week. In the contract markets, JX Nippon Oil & Energy has settled its
benzene contract price for December at the USD 1320/mt CFR Asia levels. This price
representsasteepriseofUSD62/mtfromNovemberlevels.
B1(a)AromaticsAverageweeklyBenzenePrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Benzene
FOB
Korea
1312 1278 1243 1228 1265 1258 1298 1254
CFR
Japan
1317 1283 1248 1233 1270 1263 1303 1256
CFR
India
1322 1288 1253 1238 1275 1268 1309 1264

B1 Benzene Price Chart & Graphical Trend

56

PriceMovementofBenzeneduring
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Benzene
FOB
Korea
1330 1220 1330 1215
CFRJapan 1335 1225 1335 1220
CFRIndia 1340 1230 1340 1225
B1 Benzene Price Movement

57

Toluene prices in Asia finished higher on November 7. Prices gained in line with improved
buying trends in the region. The price rise was further supported by firmer toluene values in
the US. FOB Korea prices were assessed up at the USD 1125/mt levels, a day on day gain of
USD10/mt.CFRChinapriceswerehigherattheUSD1150/mtlevels.Inthedomesticmarkets
ofChina,pricesoftoluenewereupattheYuan8310/mtextanklevels.
Despite dull buying interest in the region, toluene prices in Asia climbed during week 1. The
price rise was supported by low product inventory levels in key markets like China. On
November 8, although prices declined on the day, toluene was assessed at the USD 1120/mt
FOB Korea levels, a week on week rise of USD 15/mt. CFR China prices of toluene were
assessedupattheUSD1145/mtlevels.CFRSouthEastAsiapriceswereassessedhigheratthe
USD 1150/mt levels, a rise of 25/mt on the week. In China, local rates were at the Yuan
8300/mt ex tank levels. In plant news, YNCC has resumed production at its No.3 aromatics
plant, located at Yeosu, South Korea,. The plant was shut for a maintenance turnaround on
October 28, 2013. The plant has a production capacity of 60,000 mt/year of toluene, 30,000
mt/yearofsolventMXand110,000mt/yearofbenzene.
On November 13, toluene prices in Asia climbed. Prices gained on the back of a rise in
upstream energy and downstream benzene rates. Improved buying trends witnessed in the
region supported the price rise. FOB Korea prices of toluene were assessed up at the USD
1135/mtlevels,adayondayriseofUSD10/mt.CFRChinapriceswereassessedhigheratthe
USD1160/mtlevels.InChina,localpricesoftoluenewereattheYuan8360/mtextanklevels.
OnNovember14,toluenepricesinAsiaedgedhigher.Thepricerisewassupportedbystrong
buying activity witnessed in key markets like China. Supporting the price gains were higher
Brent crude rates coupled with a rise in downstream benzene values. FOB Korea prices of
toluenewereassessedupattheUSD1140/mtlevels,adayondayriseofUSD5/mt.CFRChina
prices were assessed higher at the USD 1165/mt levels. In China, domestic prices of toluene
wereupattheYuan8435/mtextanklevels.
Toluene prices in Asia firmed duringweek 2. Strong buying interest witnessed in key markets
like China supported the price rise. The price gain was further supported by a sharp rise in
downstreambenzeneprices.OnNovember15,pricesoftoluenewereassessedupattheUSD
1145/mt FOB Korea levels, a week on week sharp gain of USD 25/mt. CFR China prices of
toluene were assessed higher at the USD 1170/mt levels. CFR South East Asia prices were
assessedupattheUSD1170/mtlevels.InChina,localrateswerehigherattheYuan8435/mt
extanklevels.
B2 Toluene Summary

58

buyingtrendsintheregionandariseindownstreambenzenevalues.FOBKoreapriceswere
assessed up at the USD 1160/mt levels, a gain of USD 15/mt from November 15 assessed
levels. CFR China prices were higher at the USD 1175/mt levels, a rise of USD 5/mt. In the
domesticmarketsofChina,pricesoftoluenewereupattheYuan8450/mtextanklevels.
Toluene prices in Asia declined on November 19. The price fall was attributed to a drop in
downstream benzene values. Supporting the price drop were weaker upstream brent crude
values. FOB Korea prices of toluene were assessed at the USD 1150/mt levels, a fall of USD
10/mt.CFRChinapriceswereassessedattheUSD1175/mtlevels.Inthedomesticmarketsof
China,pricesoftoluenewereassessedattheYuan8450/mtextanklevels.
Toluene prices in Asia climbed during week 3. Prices gained in line with firmer downstream
benzene rates and strength in global energy and gasoline values. On November 22, prices of
toluenewereassessedupattheUSD1160/mtFOBKorealevels,aweekonweekriseofUSD
15/mt.CFRChinapricesoftoluenewereassessedhigherattheUSD1175/mtlevels.CFRSouth
EastAsiapriceswereassessedupattheUSD1185/mtlevels,againofUSD15/mtontheweek.
InChina,localrateswerehigherattheYuan8460/mtextanklevels.
Toluene prices in Asia were assessed mixed on November 25. FOB Korea prices of toluene
were assessed down at the USD 1155/mt levels, a fall of USD 5/mt from November 22
assessed levels. Prices declined on the back of a drop in upstream energy values. CFR China
priceswereupattheUSD1180/mtlevels,ariseofUSD5/mt.Thepricerisewassupportedby
low product inventory levels in the region. In the domestic markets, prices of toluene were
assessedattheYuan8451/mtextanklevels.
ToluenepricesinAsiafinishedhigheronNovember26.Pricesgainedinlinewithstrongbuying
sentimentsintheregion.FOBKoreapriceswereassessedupattheUSD1165/mtlevels,again
of USD 10/mt on the day. CFR China prices were at the USD 1180/mt levels. In the domestic
marketsofChina,pricesoftoluenewereupattheYuan8450/mtextanklevels.
buyingsentimentswitnessedinkeymarketslikeChina.FOBKoreapriceswereassessedupat
theUSD1175/mtlevels,adayondaygainofUSD10/mt.CFRChinapriceswerehigheratthe
USD 1200/mt levels, a sharp rise of USD 20/mt. In the domestic markets of China, prices of
toluenewereupattheYuan8601/mtextanklevels
ToluenepricesinAsiafinishedhigherduringweek4.Tightproductavailscoupledwitharisein
downstream benzenevalues, together supported the price climb. On November 29, although
pricesdeclinedontheday,toluenewasassessedattheUSD1170/mtFOBKorealevels,aweek

59

on week rise of USD 10/mt. CFR China prices of toluene were assessed higher at the USD
1195/mt levels. CFR South East Asia prices were assessed up at the USD 1210/mt levels, a
sharpgainofUSD25/mt.InChina,localrateswereattheYuan8460/mtextanklevels.
B2AromaticsAverageweeklyToluenePrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Toluene
FOB
Korea
1168 1173 1135 1115 1148 1109 1148 1138
CFR
Japan
1192 1175 1160 1137 1166 1130 1167 1159
CFR
SEA
1195 1175 1157 1131 1165 1141 1173 1163
CFR
India
1227 1212 1192 1178 1202 1184 1212 1191
CFR
China
1192 1175 1160 1137 1166 1130 1167 1159
B2 Toluene Price Chart & Graphical Trend

60

PriceMovementofTolueneduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Toluene
FOBKorea 1255 1105 1255 1080

CFRJapan 1200 1125 1200 1100
CFRSEA 1210 1125 1210 1125
CFRIndia 1230 1175 1230 1165
CFRChina 1200 1125 1200 1100
B2 Toluene Price Movement

61

PX prices inAsia finished higher on November 5. Supporting the rise inPX prices were firmer
feedstock Isomer MX rates. FOB Korea prices of PX were assessed up at the USD 1390/mt
levels, a day on day rise of USD 5/mt. CFR Taiwan prices were assessed higher at the USD
1415/mtlevels.FeedstockIsomerMXpriceswereassessedupattheUSD1220/mtFOBKorea
levels,ariseofUSD10/mtontheday.
IsomerMXpricesedgedlowerinAsiaonNovember6.Weakerupstreamenergyvaluespushed
spot prices of Isomer MX lower. FOB Korea prices of Isomer MX were assessed down at the
USD 1215/mt levels, a fall of USD 5/mt on the day. CFR Taiwan prices of Isomer MX were
assessed lower at the USD 1240/mt levels. Downstream PX prices were assessed at the USD
1390/mtFOBKorealevels.
PX prices in Asia firmed on November 7. Short covering action witnessed in the region
encouragedsellersofPXtohiketheirprices.Thepricerisewasfurthersupportedonreportsof
anunplannedshutdownataPXplantinChina.FOBKoreapricesofPXwereassessedupatthe
USD1410/mtlevels,adayondayriseofUSD20/mt.CFRTaiwanpriceswereassessedhigher
at the USD 1435/mt levels. Isomer MX prices in Asia also edged higher. The price rise was
attributed to a gain in downstream PX values. FOB Korea prices of Isomer MX were assessed
upattheUSD1220/mtlevels,adayondayriseofUSD5/mt.CFRTaiwanpriceswereassessed
higher at the USD 1245/mt levels. In plant news, Dragon Aromatics has shut its 800,000
mt/year No.2 PX plant, located at Gulei, China. The plant had undergone an unplanned
shutdownonNovember6,2013duetounspecifiedproblems.
Orthoxylene(OX)pricesfinishedhigherinAsiaduringweek1.Thepricerisewassupportedby
higher feedstock isomer MX values. FOB Korea prices of OX were assessed up at the USD
1375/mtlevels,ariseofUSD15/mtontheweek.CFRChinapriceswereassessedhigheratthe
USD1400/mtlevels.CFRSouthEastAsiapriceswereassessedflatattheUSD1375/mtlevels.
Paraxylene (PX) prices also climbed in Asia. On November 8, although prices dropped on the
day,PXwasassessedattheUSD1405/mtFOBKorealevels,ariseofUSD15/mtontheweek.
CFRTaiwanpricesofPXwereassessedupattheUSD1425/mtlevels.Inplantnews,Satorphas
delayedthestartupofitsnew700,000mt/yearPXplantinSaudiArabiafromDecember2013
toJanuary2014.SatorpisajointventurebetweenSaudiAramcoandTotalofFrance.Despite
aweekonweekriseinIsomerMXrates,solventgradeMXpricesinAsiawereassessedsteady.
FOB Korea prices were assessed flat at the USD 1175/mt levels. CFR Taiwan prices were
assessedunchangedattheUSD1190/mtlevels.CFRChinapricesofSolventMXwereassessed
steady at the USD 1210/mt levels while CFR South East Asia prices were assessed unchanged
attheUSD1210/mtlevels.Inplantnews,YNCChasresumedproductionatitsNo.3aromatics
B3 Xylene Summary

62

plant, located at Yeosu, South Korea, early week. The plant was shut for a maintenance
turnaround on October 28, 2013. The plant has a production capacity of 30,000 mt/year of
solvent MX, 110,000 mt/year of benzene and 60,000 mt/year of toluene. Isomer MX prices
firmed in Asia. Isomer MX was assessed at the USD 1215/mt FOB Korea levels, a gain of USD
15/mt.CFRTaiwanpricesofIsomerMXwereassessedupattheUSD1240/mtlevels.
Paraxylene (PX) prices in Asia inched lower on November 12. The price fall was attributed to
weaker upstream crude values coupled with ample product availability in the region. FOB
Korea prices of PX were assessed down at the USD 1400/mt levels, a day on day fall of USD
5/mt. CFR China prices were assessed at the USD 1425/mt levels. In plant news, Oil and
Natural Gas Corp (ONGC) has delayed the startup of a new aromatics plant, located at New
Mangalore,India,toFebruary/March2014fromJanuary2014.Thestartupoftheplant,which
was initially scheduled to commence in April 2013, was further postponed to endOctober
2013. The delay has been on account of technical issues. The plant can produce 900,000
mt/yearofparaxyleneand270,000mt/yearofbenzene.
Isomer MX prices in Asia marched higher on November 13. Gains were prompted by short
coveringactivitywitnessedintheregion.FOBKoreapricesofIsomerMXwereassessedupat
the USD 1240/mt levels, a sharp gain of USD 25/mt on the day. CFR Taiwan prices were
assessedhigherattheUSD1260/mtlevels,adayondayriseofUSD20/mt.
Asian PX prices inched lower on November 14. The price fall was attributed to a decline in
upstream IsomerMX values. Improved product availability in the region supported the price
fall.FOBKoreapricesofPXwereassesseddownattheUSD1395/mtlevels,afallofUSD5/mt
ontheday.CFRChinapriceswereassessedlowerattheUSD1420/mtlevels.IsomerMXprices
also edged lower in Asia. FOB Korea prices of Isomer MX were assessed down at the USD
1235/mtlevels,afallofUSD5/mt.CFRTaiwanpriceswereassessedlowerattheUSD1255/mt
levels.
Orthoxylene (OX) prices journeyed north in Asia during week 2. The price rise was mainly on
account of improved buying trends in the region. Supporting the rise in prices were tight
product avails in the region coupled with firmer downstream PA values. FOB Korea prices of
OXwereassessedupattheUSD1400/mtlevels,asharpriseofUSD25/mtontheweek.CFR
ChinapriceswereassessedhigherattheUSD1425/mtlevels.CFRSouthEastAsiapriceswere
assessed up at the USD 1385/mt levels, a gain of USD 10/mt. Meanwhile, paraxylene (PX)
pricesfinishedlowerinAsia.SupportingthepricefallwasadropinpricesofupstreamIsomer
MX rates. On November 15, PX prices were assessed down at the USD 1390/mt FOB Korea
levels,aweekonweekfallofUSD15/mt.CFRTaiwanpricesofPXwereassessedloweratthe
USD1415/mtlevels.SolventgradeMXpricesinAsiaalsolower.Pricesdeclinedonaccountof
acombinationofbearishtriggersincludingdulldemandtrendsinkeymarketslikeChina.FOB

63

KoreapriceswereassessedlowerattheUSD1165/mtlevels,afallofUSD10/mt.CFRTaiwan
prices were assessed down at the USD 1180/mt levels, a week on week drop of USD 10/mt.
CFR China prices of Solvent MX were assessed lower at the USD 1200/mt levels while CFR
SouthEastAsiapriceswereassessedlowerattheUSD1200/mtlevels,bothdownUSD10/mt.
Isomer MX prices also declined in Asia. The price fall was triggered by strong selling activity
witnessedintheregioncoupledwithweakerdownstreamPXvalues.PricesofIsomerMXwere
assessedlowerattheUSD1205/mtFOBKorealevels,afallofUSD10/mt.CFRTaiwanpricesof
IsomerMXwereassesseddownattheUSD1230/mtlevels.
Paraxylene (PX) prices declined in Asia on November 18. The price fall was prompted by a
decline in upstream energy values. The price fall was supported by hectic selling activity
witnessed in the region. FOB Korea prices of PX were assessed down at the USD 1380/mt
levels, a decline of USD 10/mt from November 15. CFR Taiwan prices of PX were assessed
lower at the USD 1405/mt levels. Feedstock Isomer MX prices were assessed at the USD
1205/mtFOBKorealevels.
PX prices in Asia climb on November 20. A spike in short covering action in the region
encouragedsellersofPXtohiketheirprices.Supportingthepricegainswerehigherfeedstock
isomerMXvalues.FOBKoreapricesofPXwereassessedupattheUSD1390/mtlevels,arise
ofUSD10/mtontheday.CFRTaiwanpriceswereassessedhigherattheUSD1410/mtlevels.
FeedstockIsomerMXpriceswereassessedhigherattheUSD1210/mtFOBKorealevels,aday
ondayriseofUSD5/mt.CFRTaiwanpriceswereassessedhigherattheUSD1235/mtlevels.In
thecontractmarkets,IdemitsuKosanhasnominateditsPXcontractpriceforDecemberatthe
USD1470/mtCFRAsialevels.
Paraxylene (PX) prices in Asia edged lower on November 21. The price fall was attributed to
weakerupstreamisomerMXvaluesandampleproductavailsintheregion.Thepricefallwas
further supported by softer downstream PTA rates. FOB Korea prices of PX were assessed
down at the USD 1385/mt levels, a fall of USD 5/mt on the day. CFR China prices were
assessed at the USD 1410/mt levels. Feedstock Isomer MX prices were assessed lower at the
USD 1200/mt levels, a day on day drop of USD 10/mt. CFR Taiwan prices of Isomer MX were
assesseddownattheUSD1225/mtlevels.
Orthoxylene(OX)pricesedgeddowninAsiaduringweek3.Thepricefallwastriggeredbydull
regional buying interest. FOB Korea prices of OX were assessed lower at the USD 1395/mt
levels, a fall of USD 5/mt on the week. CFR China prices were assessed down at the USD
1420/mt levels. CFR South East Asia prices were assessed flat at the USD 1385/mt levels.
Paraxylene (PX) prices also edged lower in Asia. The price fall was prompted by sufficient
product avails in the region. On November 29, PX prices were assessed down at the USD
1385/mt FOB Korea levels, a week on week fall of USD 5/mt. CFR Taiwan prices of PX were

64

assessedlowerattheUSD1410/mtlevels.SolventgradeMXpricesinAsiameanwhileinched
higher. The price climb was a result of firmer global energy values. FOB Korea prices were
assessed up at the USD 1170/mt levels, a rise of USD 5/mt on the week. CFR Taiwan prices
were assessed higher at the USD 1185/mt levels, a week on week increase of USD 5/mt. CFR
China prices of Solvent MX wereassessed up at the USD 1205/mt levels, a gain of USD 5/mt.
CFRSouthEastAsiapriceswereassessedupattheUSD1210/mtlevels,ariseofUSD10/mt.
Despiteafallinupstreamenergyrates,spot PXpricesinAsiaedgedhigheronNovember25.
The price climb was attributed to short covering activity witnessed in the region. FOB Korea
pricesofPXwereassessedupattheUSD1390/mtlevels,ariseofUSD5/mtfromNovember
22 assessed levels. CFR China prices were assessed at the USD 1410/mt levels. Feedstock
IsomerMXpriceswereassessedsteadyattheUSD1205/mtFOBKorealevels.Inthecontract
markets, SOil has announced its PX contract price nomination for December at the USD
1470/mt CFR Asia levels. In China, Sinopec is heard to have settled its PX contract price for
November at the Yuan 10400/mt levels. This price represents a fall of Yuan 350/mt from
Octobersettlementlevels.
Despiteafallinupstreamenergyrates,spot PXpricesinAsiaedgedhigheronNovember26.
The price climb was on the back of limited product avails in the region coupled with a rise in
isomerMXvalues.FOBKoreapricesofPXwereassessedupattheUSD1395/mtlevels,aday
on day rise of USD 5/mt. CFR China prices were assessed higher at the USD 1420/mt levels.
IsomerMXpricesinAsiaalsoclimbed.Pricesfirmedonthebackofstrongbuyinginterest.FOB
KoreapricesofIsomerMXwereassessedupattheUSD1220/mtlevels,ariseofUSD15/mt.
CFRTaiwanpriceswereassessedhigherattheUSD1245/mtlevels.
DespiteariseinfeedstockisomerMXrates,orthoxylene(OX)priceswereassessedflatinAsia
during week 4. Demand trends for the product was reported to be weak in the region. FOB
Korea prices of OX were assessed stable at the USD 1395/mt levels while CFR China prices
wereassessedunchangedattheUSD1420/mtlevels.CFRSouthEastAsiapriceswereassessed
flat at the USD 1385/mt levels. Paraxylene (PX) prices meanwhile climbed in Asia. The price
rise was attributed to bullish buying sentiments and firmer upstream isomer MX and
downstream PTA values. On November 29, PX prices were assessed up at the USD 1400/mt
FOB Korea levels, a week on week rise of USD 15/mt. CFR Taiwan prices of PX were assessed
higher at the USD 1425/mt levels. Solvent grade MX prices in Asia also finished higher. FOB
Korea prices were assessed up at the USD 1180/mt levels, a rise of USD 10/mt on the week.
CFR Taiwan prices wereassessed higher at the USD 1195/mt levels, a rise of USD 10/mt. CFR
ChinapricesofSolventMXwereassessedupattheUSD1210/mtlevels,againofUSD5/mton
the week. CFR South East Asia prices were assessed up at the USD 1215/mt levels, a rise of
USD5/mt.PricesofIsomerMXwereassessedupattheUSD1220/mtFOBKorealevels,arise

65

ofUSD15/mtontheweek.CFRTaiwanpricesofIsomerMXwereassessedhigherattheUSD
1245/mtlevels,aweekonweekgainofUSD15/mt.
B3AromaticsAverageweeklyXylenePrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
OrthoXylene
FOB
Korea
1395 1398 1383 1368 1386 1374 1415 1460
CFR
SEA
1385 1385 1378 1375 1381 1390 1432 1462
ParaXylene
FOB
Korea
1396 1384 1397 1396 1393 1423 1474 1482
CFR
SEA
1412 1398 1415 1418 1411 1445 1495 1505
SolventMixed
FOB
Korea
1173 1167 1172 1175 1172 1163 1182 1140
CFR
SEA
1212 1203 1207 1210 1208 1200 1211 1194
IsomerMixed
FOB
Korea
1218 1205 1219 1212 1214 1216 1294 1291
CFR
SEA
1240 1230 1243 1236 1237 1234 1311 1311
B3 Xylene Price Chart & Graphical Trend

66

PriceMovementofXyleneduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
OrthoXylene
FOBKorea 1400 1365 1495 1360

CFRSEA 1385 1375 1485 1375
ParaXylene
FOBKorea 1410 1380 1510 1380

CFRSEA 1435 1395 1535 1395
SolventMixed
FOBKorea 1180 1165 1195 1120

CFRSEA 1215 1200 1225 1180
IsomerMixed
FOBKorea 1240 1200 1325 1160

CFRSEA 1260 1220 1340 1180
B3 Xylene Price Movement

67

Methanol prices bolstered higher in Asia during week 1. Limited product avails in the region
supportedthepricerise.CFRChinapriceswereassessedupattheUSD465/mtlevels,againof
USD5/mtontheweek.PricesofmethanolwereassessedhigherattheUSD480/mtCFRKorea
levels,aweekonweekriseofUSD 5/mt.CFRSouthEastAsiapriceswereattheUSD520/mt
levels,ariseofUSD5/mt.CFRIndiapriceswereassessedflatattheUSD440/mtlevels.Buying
activity was reported to be dull on account of Diwali holidays. In the domestic markets of
China,methanolpriceswereassessedupattheYuan3380/mtlevels.
Methanol prices firmed up in Asia during week 2. CFR China prices were assessed up at the
USD475/mtlevels,againofUSD10/mtontheweek.Pricesofmethanolwereassessedhigher
at the USD 505/mt CFR Korea levels, a sharp gain of USD 25/mt. CFR South East Asia prices
were up at the USD 560/mt levels, a steep rise of USD 40/mt. Prices climbed as product
availabilityintheregioncontinuedtoremainconstrained.CFRIndiapriceswereassessedflat
attheUSD440/mtlevels.InthedomesticmarketsofChina,methanolpriceswereassessedat
theYuan3380/mtlevels.
MethanolpricesmarchedhigherinAsiaduringweek3.Continuedtightproductavailabilityfor
the prompt parcels coupled with improved buying trends in the region supported the price
rise.CFRChinapriceswereassessedupattheUSD495/mtlevels,asharpweekonweekgain
ofUSD20/mt.PricesofmethanolwereassessedhigherattheUSD510/mtCFRKorealevels,a
riseofUSD 5/mt.CFRSouthEastAsiapriceswereupattheUSD580/mtlevels,ariseofUSD
20/mtontheweek.CFRIndiapriceswereassessedhigherattheUSD460/mt.Inthedomestic
marketsofChina,methanolpriceswereassessedupattheYuan3510/mtlevels.
Methanol prices firmed in Asia during week 4. Prices firmed on the back of worries of
constrained supplies for prompt parcels in the region. CFR China prices were assessed up at
the USD 515/mt levels, a week on week sharp gain of USD 20/mt. Prices of methanol were
assessed higher at the USD 515/mt CFR Korea levels, a rise of USD 5/mt on the week. CFR
SouthEastAsiapriceswereupattheUSD595/mtlevels,againofUSD15/mt.CFRIndiaprices
were assessed flat at the USD 460/mt levels. In the domestic markets of China, methanol
priceswereassessedupattheYuan3610/mtlevels.Inplantnews,BruneiMethanolCompany
has delayed the restart of its 850,000 mt/year methanol plant, located at Sungai Liang
Industrial Park, to December 2013. The plant was to resume production in the third week of
November2013.
B4 Methanol Summary

68

B4AromaticsAverageweeklyMethanolPrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Methanol
CFR
India
460 447 440 440 447 399 347 337
CFR
China
504 481 469 461 479 431 404 383
CFR
Korea
512 507 488 476 496 449 419 401
CFR
SEA
587 571 542 514 554 457 430 425
B4 Methanol Price Chart & Graphical Trend

69

PriceMovementofMethanolduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Methanol
CFRIndia 460 440 460 335

CFRChina 520 460 520 380
CFRKorea 515 475 515 400
CFRSEA 595 510 595 420
B4 Methanol Price Movement

70

Prices of butadiene plunged in Asia during week 1. The price fall was triggered by extremely
dull regional purchase sentiments coupled with ample product availability. Hectic selling
activity witnessed in the region further supported the sharp price fall. FOB Korea prices of
butadienewereassesseddownat theUSD1545/mtlevels,asharpweekonweekfallofUSD
105/mt. CFR South East Asia prices of butadiene were assessed lower at the USD 1575/mt
levels, a steep fall of USD 125/mt. CFR China prices of butadiene were assessed down at the
USD1595/mtlevels,asharpdropofUSD125/mtontheweek.
PricesofbutadienewerehammeredlowerinAsiaduringweek2.Sluggishdemandtrendsand
ampleproductavailabilityintheregion,supportedthesteeppriceplunge.FOBKoreapricesof
butadiene were assessed down at the USD 1390/mt levels, a tumble of USD 155/mt on the
week.CFRSouthEastAsiapricesofbutadienewereassessedlowerattheUSD1390/mtlevels,
a plunge of USD 185/mt. CFR China prices of butadiene were assessed down at the USD
1400/mtlevels,asteepweekonweekdropofUSD195/mt.
ButadienepricesinAsiareversedandwereseenfirmingduringweek3.Thepriceincreasewas
supportedbyimprovedbuyinginterestwitnessedinkeymarketslikeChina.FOBKoreaprices
of butadiene were assessed up at the USD 1410/mt levels, a rise of USD 20/mt on the week.
CFR South East Asia prices of butadiene were assessed higher at the USD 1390/mt levels, a
weekonweekgainofUSD20/mt.CFRChinapricesofbutadienewereassessedupattheUSD
1420/mtlevels,ariseofUSD20/mt.
Butadiene prices in Asia galloped higher during week 4. Continued strong buying sentiments
witnessed in key markets like China supported the sharp price rise. Supporting price gains
were improved demand trends in downstream SBR markets. FOB Korea prices of butadiene
wereassessedupattheUSD1525/mtlevels,asharpweekonweekgainofUSD115/mt.CFR
South East Asia prices of butadiene were assessed higher at the USD 1550/mt levels, a steep
rise of USD 140/mt. CFR China prices of butadiene were assessed up at the USD 1560/mt
levels, a sharp increase of USD 140/mt. Offers were heard at the USD 1600/mt CFR China
levels.
C. Olefins
C1 Butadiene Summary

71

C1OlefinsAverageweeklyButadienePricesfor
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Butadiene
South
Korea
1493 1393 1453 1610 1487 1635 1347 1119
Japan 1453 1353 1413 1589 1452 1593 1332 1112
China 1519 1403 1478 1670 1518 1678 1360 1156
SEAsia 1457 1397 1513 1669 1509 1642 1331 1133
C1 Butadiene Price Chart & Graphical Trend

72

PriceMovementofButadieneduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Butadiene
Japan 1620 1340 1660 900

South
Korea
1650 1380 1690 1000
China 1720 1390 1760 1070

SEAsia 1700 1390 1740 890
C1 Butadiene Price Movement

73

On November 6, ethylene prices inched lower in parts of Asia. CFR South East Asia prices of
ethylene were assessed down at the USD 1425/mt mark, a day on day decline of USD 5/mt.
Pricesfellonweakerupstreamcrudeandnaphthavaluescoupledwithsofterbuyingtrendsin
theregion.CFRNorthEastAsiapriceswereassessedflatattheUSD1375/mtlevels.
Asian ethylene prices slipped in Asia during week 1. The price fall was prompted by a
combination of bearish triggers including sinking prices of crude and naphtha coupled with
subduedbuyingsentimentsintheregion.FOBKoreapricesofethylenewereassessedlowerat
theUSD1305/mtlevels,aweekonweekdropofUSD20/mt.CFRSouthEastAsiapriceswere
assessedlowerattheUSD1425/mtlevels,afallofUSD5/mtontheweek.CFRNorthEastAsia
prices of ethylene were assessed flat at the USD 1375/mt levels. In plant news, Yansab is
expected to resume production at its petrochemical complex at Yanbu, Saudi Arabia. The
complex was shut on October 23, 2013 owing to technical issues. The complex can produce
ethylene with a production capacity of 1.3 mmt/year, propylene capacity of 700,000 mt/year
andHDPE,LDPEandPPwithcapacityof400,000mt/yeareach.
EthylenepricesedgedlowerinpartsofAsiaonNovember12.CFRSouthEastAsiapriceswere
assessed lower at the USD 1420/mt levels, a fall of USD 5/mt on the day. The price fall was
attributed to weaker upstream crude values coupled with sluggish buying sentiments in the
region.CFRNorthEastAsiapricesofethylenewereassessedattheUSD1375/mtmark.
Ethylene prices in Asia declined during week 2. The price fall was on the back of sluggish
buyingsentimentsintheregion.FOBKoreapricesofethylenewereassessedlowerattheUSD
1300/mtlevels,aweekonweekdropofUSD5/mt.CFRSouthEastAsiapriceswereassessed
lowerattheUSD1415/mtlevels,afallofUSD10/mtontheweek.CFRNorthEastAsiaprices
ofethylenewereassesseddownattheUSD1370/mtlevels,afallofUSD5/mt.
Despite a week on week rise in upstream crude and naphtha values, ethylene prices in Asia
wereassessedsteadyduringweek3.Buyingactivitywasreportedtobedullintheregion.FOB
Korea prices of ethylene were assessed flat at the USD 1300/mt levels while CFR South East
AsiapriceswereassessedunchangedattheUSD1415/mtlevels.CFRNorthEastAsiapricesof
ethylene were assessed stable at the USD 1370/mt levels. Offers were heard at the USD
1400/mt CFR China levels. In plant news, Showa Denko is likely to shut its cracker, located at
Oita, Japan for maintenance turnaround, in midMarch 2014. The cracker is likely to remain
shut for around one month. The cracker has an ethylene production capacity of 695,000
mt/yearandpropylenecapacityof425,000mt/year.
C2 Ethylene Summary

74

Ethylene prices inched higher in parts of Asia on November 27. CFR North East Asia prices
were assessed higher at the USD 1375/mt levels, a gain of USD 5/mt on the day. Firmer
upstream energy values, tight regional product availability coupled with reports of improved
buying, together supported the price rise. CFR South East Asia prices of ethylene were
assessedattheUSD1415/mtlevels.
EthylenepricesclimbedinAsiaduringweek4.Thepricerisewasonthebackoftightproduct
availsintheregion.FOBKoreapricesofethylenewereassessedupattheUSD1315/mtlevels,
a week on week gain of USD 15/mt. CFR North East Asia prices of ethylene were assessed
higherattheUSD1380/mtlevels,upUSD10/mtontheweek.CFRSouthEastAsiapriceswere
assessedunchangedattheUSD1415/mtlevels.Inplantnews,CPCislikelytoshutitscracker,
locatedatLinyuan,Taiwanformaintenanceturnaround,inmidFebruary2014.Thecrackeris
likelytoremainshutforaroundtwomonths.Thecrackerhasanethylenecapacityof600,000
mt/year,propylenecapacityof300,000mt/yearandbutadienecapacityof100,000mt/year.

75

C2OlefinsAverageWeeklyEthylenePrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Ethylene
SouthKorea 1305 1300 1303 1320 1307 1334 1255 1214
Japan 1295 1290 1293 1310 1297 1324 1245 1205
SEAsia 1415 1415 1418 1428 1419 1454 1399 1303
PriceMovementofEthyleneduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Ethylene
Japan 1315 1290 1355 1175

SouthKorea 1325 1300 1365 1190
SEAsia 1430 1415 1470 1220
C2 Ethylene Price Movement
C2 Ethylene Price Chart & Graphical Trends

76

Propylene prices in Asia marched higher on November 6. The price rise was attributed to
firmer downstream PP rates. FOB Korea prices of propylene were assessed up at the USD
1420/mtlevels,adayondaygainofUSD20/mt.CFRChinapriceswereassessedhigheratthe
USD1485/mtlevels,ariseofUSD15/mtontheday.
Despite weaker upstream crude and naphtha values, propylene prices climbed in Asia during
week 1. The price rise was attributed to improved buying sentiments coupled with firmer
downstreamPPrates.OnNovember8,FOBKoreapricesofpropylenewereassessedupatthe
USD1420/mtlevels,againofUSD20/mtontheweek.CFRChinapriceswereassessedhigher
at the USD 1490/mt levels, a week on week rise of USD 20/mt. CFR Taiwan propylene prices
were assessed up at the USD 1470/mt levels. CFR South East Asia prices of propylene were
assessedflatattheUSD1375/mtlevel.InChina,SinopechasraiseditsPPpricesinEastChina
by Yuan 150/mt to Yuan 11950/mt ex works levels. In plant news, Tianjin Bohai Chemical is
operating its propane dehydrogenation (PDH) plant at lower rates of around 50% of
productioncapacity.Theplanthasapropyleneproductioncapacityof600,000mt/year.
PropylenepricesinAsiadeclinedonNovember12.Pricesfellonthebackofweakerupstream
energy values. CFR China prices were assessed down at the USD 1480/mt levels while FOB
Korea prices of propylene were assessed down at the USD 1410/mt levels, both down USD
10/mtontheday.
On November 14, propylene prices in Asia inched lower. Weak buying trends coupled with a
declineindownstreamPPvaluessupportedthepricefall.CFRChinapricesofpropylenewere
down at the USD 1475/mt levels, a drop of USD 5/mt on the day. FOB Korea prices were
assessedattheUSD1410/mtlevels.
PropylenepricesdriftedlowerinAsiaduringweek2.Amplesupplyandsofterbuyinginterest
in the region supported the price fall. On November 15, FOB Korea prices of propylene were
assesseddownattheUSD1410/mtlevels,aweekonweekfallofUSD10/mt.CFRChinaprices
wereassessedlowerattheUSD1470/mtlevels,adropofUSD20/mtontheweek.CFRTaiwan
propylene prices were assessed down at the USD 1445/mt levels, a sharp fall of USD 25/mt.
CFRSouthEastAsiapricesofpropylenewereassessedlowerattheUSD1370/mtlevel,down
USD 5/mt. In plant news, Tianjin Bohai chemical is operating its propane dehydrogenation
(PDH) plant at nearly full production capacity levels. The plant has a propylene production
capacity of 600,000 mt/year. Earlier, the plant was operating at lower rates of around 50%
owingtotechnicalproblems.
C3 Propylene Summary

77

Despite firmer upstream crude and naphtha rates, propylene prices edged lower in parts of
Asia during week 3. On November 22, FOB Korea prices of propylene were assessed down at
the USD 1405/mt levels, a week on week drop of USD 5/mt. The price fall was supported by
dull demand sentiments in the region. CFR China prices were assessed stable at the USD
1470/mt levels while CFR Taiwan propylene prices were assessed flat at the USD 1445/mt
levels.CFRSouthEastAsiapricesofpropylenewereassessedunchangedattheUSD1370/mt
level.
PropylenepricesedgedupinpartsofAsiaduringweek4.OnNovember29,FOBKoreaprices
of propylene were assessed flat at the USD 1405/mt levels. CFR China prices were assessed
higherattheUSD1475/mtlevels,aweekonweekgainofUSD5/mt.Thepricerisewasonthe
back of strong buying trends witnessed in the region. CFR Taiwan propylene prices were
assessed flat at the USD 1445/mt levels while CFR South East Asia prices of propylene were
assessedunchangedattheUSD1370/mtlevels.Inplantnews,CPCislikelytoshutitscracker,
locatedatLinyuan,Taiwanformaintenanceturnaround,inmidFebruary2014.Thecrackeris
likelytoremainshutforaroundtwomonths.Thecrackerhasanethylenecapacityof600,000
mt/year,propylenecapacityof300,000mt/yearandbutadienecapacityof100,000mt/year.
C3OlefinsAverageweeklyPropylenePrices
Grades W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Propylene
South
Korea
1403 1408 1412 1410 1408 1385 1400 1368
Japan 1390 1390 1398 1400 1395 1377 1395 1361
SEAsia 1370 1370 1373 1375 1372 1420 1389 1301
C3 Propylene Price Chart & Graphical Trend

78

PriceMovementofPropyleneduringAugust2013to
Grades Market
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Propylene
Japan 1410 1380 1410 1325

South
Korea
1420 1395 1420 1335
SEAsia 1375 1370 1435 1285
C3 Propylene Price Movement

79

Prices of SM in Asia declined on November 6. Prices fell in tandem with softer upstream
benzene values and sluggish buying interest. FOB Korea prices of SM were assessed down at
the USD 1610/mt levels, a day on day drop of USD 10/mt. CFR China prices were assessed
downattheUSD1640/mtlevels.InthedomesticmarketsofChina,SMpriceswereassessedat
theYuan12050/mtextanklevels.
Styrene Monomer (SM) prices in Asia slipped during week 1. The price fall was attributed to
weaker upstream energy and benzene rates coupled with bearish demand trends in the
region. On November 8, SM prices were assessed at the USD 1600/mt FOB Korea levels, a
week on week fall of USD 15/mt. CFR China prices were assessed at the USD 1625/mt levels,
downUSD15/mt.CFRJapanpriceswereassesseddownattheUSD1620/mtlevels,aweekon
weekdropofUSD15/mtwhileCFRIndiapriceswerelowerattheUSD1625/mtlevels,afallof
USD15/mtontheweek.InthedomesticmarketsofChina,theSMpriceswereassessedatthe
Yuan12150/mtextankmark.
Despiteariseinupstreambenzenevalues,styrenemonomer(SM)pricesinAsiainchedlower
onNovember11.Pricesfellonthebackofasluggishdemandtrendswitnessedinkeymarkets
like China. FOB Korea prices of SM were assessed down at the USD 1595/mt levels, a fall of
USD5/mtfromNovember8assessedlevels.CFRChinapriceswereassesseddownattheUSD
1620/mtlevels.InthedomesticmarketsofChina,SMpriceswereassessedlowerattheYuan
12100/mtextanklevels.
Styrene Monomer (SM) prices in Asia edged higher on November 13. The price rise was
supported by firmer upstream energy and benzene values. FOB Korea prices of SM were
assessedupattheUSD1600/mtlevels,adayondaygainofUSD5/mt.CFRChinapriceswere
assessedhigherattheUSD1630/mtlevels.InthedomesticmarketsofChina,SMpriceswere
assessedupattheYuan12225/mtextanklevels.
SM prices firmed in Asia on November 14. Prices climbed mainly on account of a rise in
upstream Brent crude and benzene rates. Supporting the price rise was improved buying
activity witnessed in key markets like China. FOB Korea prices of SM wereassessed up at the
USD1620/mtlevels,adayondayriseofUSD20/mt.CFRChinapriceswereassessedupatthe
D. Feedstock
D1 Styrene Monomer Summary

80

USD 1645/mt levels. In China, domestic prices of SM were higher at the Yuan 12125/mt ex
tanklevels.
Styrene Monomer (SM) prices in Asia firmed during week 2. Price gains were prompted by a
week on week rise in upstream Brent crude values coupled with firmer feedstock benzene
rates.OnNovember15,SMpriceswereassessedupattheUSD1620/mtFOBKorealevels,a
weekonweekriseofUSD20/mt.CFRChinapriceswereassessedhigherattheUSD1645/mt
levels,upUSD20/mt.CFRJapanpriceswereassessedupattheUSD1640/mtlevels,aweekon
weekgainofUSD20/mtwhileCFRIndiapriceswerehigherattheUSD1645/mtlevels,ariseof
USD20/mtontheweek.InthedomesticmarketsofChina,theSMpriceswereassessedatthe
Yuan12100/mtextankmark.
PricesofSMinAsiaedgeddownonNovember19.Pricesfellintandemwithsofterfeedstock
benzene values. FOB Korea prices of SM were assessed down at the USD 1625/mt levels, a
drop of USD 5/mt on the day. CFR China prices were assessed lower at the USD 1650/mt
levels.InthedomesticmarketsofChina,SMpriceswereassesseddownattheYuan12000/mt
extanklevels.
SM prices climbed in Asia on November 20. Prices climbed mainly on account of a rise in
upstream energy and benzene rates. FOB Korea prices of SM were assessed up at the USD
1635/mtlevels,adayondayriseofUSD10/mt.CFRChinapriceswereassessedupattheUSD
1660/mt levels. In China, domestic prices of SM were higher at the Yuan 11990/mt ex tank
levels.
StyreneMonomer(SM)pricesinAsiamarchedhigherduringweek3.Ariseinupstreamcrude
andfirmerbenzeneratessupportedthepricerise.OnNovember22,SMpriceswereassessed
upattheUSD1640/mtFOBKorealevels,aweekonweekriseofUSD20/mt.CFRChinaprices
were assessed higher at the USD 1665/mt levels, up USD 20/mt. CFR Japan prices were
assessed up at the USD 1660/mt levels, a week on week gain of USD 20/mt while CFR India
prices were higher at the USD 1660/mt levels, a rise of USD 15/mt on the week. In the
domesticmarketsofChina,theSMpriceswereassessedattheYuan12010/mtextankmark.
Styrene Monomer (SM) prices down adjusted on November 25 in Asia. Prices fell in tandem
withsofterupstreamcrudeandbenzenevalues.FOBKoreapricesofSMwereassesseddown
attheUSD1630/mtlevels,adropofUSD10/mt.CFRChinapriceswereassesseddownatthe
USD 1660/mt levels. In the domestic markets of China, SM prices were lower at the Yuan
12000/mtextanklevels.
Prices of styrene monomer (SM) in Asia inched lower on November 26. The price fall was on
thebackofweakbuyingsentimentswitnessedinthekeymarketslikeChina.FOBKoreaprices

81

ofSMwereassesseddownattheUSD1625/mtlevels,afallofUSD5/mtontheday.CFRChina
prices wereassessed lower at theUSD 1650/mt levels. In the domestic markets of China, SM
pricesweredownattheYuan11875/mtextanklevels.
Styrene Monomer (SM) prices in Asia edged higher on November 27. The price rise was
supported by firmer upstream benzene values. FOB Korea prices of SM were assessed up at
theUSD1630/mtlevels,adayondaygainofUSD5/mt.CFRChinapriceswereassessedhigher
attheUSD1655/mtlevels.InthedomesticmarketsofChina,SMpriceswereassessedatthe
Yuan11875/mtextanklevels.
Despiteasharpriseinfeedstockbenzenevalues,styrenemonomer(SM)pricesinAsiainched
lower during week 4. On November 29, SM prices were assessed down at the USD 1635/mt
FOB Korea levels, a week on week fall of USD 5/mt. CFR China prices were assessed lower at
the USD 1660/mt levels, down USD 5/mt. CFR Japan prices were assessed down at the USD
1655/mt levels, a week on week drop of USD 5/mt while CFR India prices were lower at the
USD 1650/mt levels, a fall of USD 10/mt on the week. In the domestic markets of China, the
SMpriceswereassessedlowerattheYuan11900/mtextankmark.

82

D1FeedstockStyreneMonomerPricesfor
November2013(USD/Tonne)@CNFIndia
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
Styrene
Monomer
1657 1650 1633 1636 1644 1713 1788 1786
PriceMovementofStyreneMonomerduringAugust2013to
Grade
Nov13
Last4months(Aug13
Nov13)
High Low High Low
Styrene
Monomer
1660 1625 1830 1665
D1 Styrene Monomer Price Movement

D1 Styrene Monomer Price Chart & Graphical Trend

83

EDC prices in Asia climbed during week 1. The price rise was on the back of tight product
availabilityintheregion.CFRFarEastAsiapricesofEDCwereassessedupattheUSD380/mt
levels, a week on week rise of USD 5/mt. Offers were heard at the USD 400/mt CFR Far East
Asialevels.CFRSouthEastAsiapriceswereassessedhigherattheUSD375/mtlevels,upUSD
5/mtontheweek.VCMpricesalsoincreasedwithCFRFarEastAsiapricesassessedattheUSD
850/mtlevels,upUSD5/mtwhileCFRSouthEastAsiapriceswereassessedhigherattheUSD
880/mtlevels,aweekonweekriseofUSD10/mt.PromptingpricesofVCMhigherweregains
inEDCandlimitedproductavailsintheregion.
During week 2, EDC prices in Asiawereassessed mixed. CFR FarEastAsia pricesof EDC were
assessed down at the USD 370/mt levels, a fallof USD 10/mt on theweek. The price fall was
attributed to weaker feedstock ethylene values. CFR South East Asia prices were assessed up
attheUSD380/mtlevels,aweekonweekriseofUSD5/mt.VCMpricesmeanwhileclimbedin
partsofAsia.CFRFarEastAsiapricesassessedhigherattheUSD865/mtlevels,upUSD15/mt.
The price rise was supported by tight product availability in the region. CFR South East Asia
priceswereassessedsteadyattheUSD880/mtlevels.
Prices of EDC journeyed north in Asia during week 3. Prices firmed on the back of worries of
constrained supplies for prompt parcels in the region. Supporting firmer rates were gains
recordedindownstreampricesofPVC.CFRFarEastAsiapricesofEDCwereassessedupatthe
USD395/mtlevels,againofUSD25/mtontheweek.CFRSouthEastAsiapriceswereassessed
upattheUSD410/mtlevels,aweekonweeksharpriseofUSD30/mt.VCMpricesalsofirmed
in Asia. Mounting concerns about restricted supply pushed rates higher as did gains in
upstream EDC and downstream PVC rates. CFR Far East Asia prices ofVCM were assessed up
at the USD 885/mt levels, a rise of USD 20/mt on the week. CFR South East Asia prices were
assessedupattheUSD885/mtlevels,aweekonweekriseofUSD5/mt.
Despite tight product avails, EDC prices edged lower in parts of Asia during week 4. CFR Far
EastAsiapricesofEDCwereassessedflatattheUSD395/mtlevelswhileCFRSouthEastAsia
prices were assessed lower at the USD 405/mt levels, down USD 5/mt on the week. VCM
priceswereassessedlowerinpartsofAsia.CFRSouthEastAsiapricesweresteadyattheUSD
885/mtlevels.CFRFarEastAsiapriceswereassessedlowerattheUSD875/mtlevels,afallof
USD10/mtontheweek.
D2 EDC/VCM Summary

84

D2FeedstockAverageWeeklyEDC/VCMPrices
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
FarEastAsiaCFR
EDC 395 383 375 377 383 369 358 344
VCM 880 875 858 847 865 850 850 832
SouthEastAsiaCFR
EDC 408 395 378 372 388 374 368 354
VCM 885 883 880 874 881 884 876 854
D2 EDC/VCM Price Chart & Graphical Trend

85

PriceMovementofEDC/VCMduringAugust2013to
Grade
Nov13
Last4months(Aug13
Nov13)
High Low High Low
EDC
FEAsia 395 370 395 335
SEAsia 410 370 410 345
VCM
FEAsia 885 845 885 825
SEAsia 885 870 890 840
D2 EDC/VCM Price Movement

86

PricesofPTAedgedloweronNovember6.AdeclineinfellowpolyesterfeedstockMEGvalues
supportedthefallinspotPTAprices.CFRChinapricesofPTAwereassesseddownattheUSD
995/mt levels, a day on day fall of USD 5/mt. In the domestic markets of China, PTA prices
werelowerattheYuan7320/mtlevels.
PTA prices inched lower in Asia during week 1. The price fall was a result of sluggish regional
buyingtrends.CFRChinapricesofPTAwereassesseddownattheUSD995/mtlevels,aweek
on week fall of USD 5/mt. CFR South East Asia prices of PTA were assessed lower at the USD
1000/mtlevels,downUSD5/mtontheweek.CFRIndiapriceswereassesseddownattheUSD
1025/mt levels, a drop of USD 5/mt. Domestic prices of PTA in China were lowerat the Yuan
7350/mt levels. In plant news, Indian Oil Corp (IOC) has restarted a purified terephthalic acid
(PTA)plantonNovember5,2013.TheplantwasshutinearlyAugust2013owingtotechnical
snag. The plant is located in Panipat in the northern Indian state of Haryana and has a
productioncapacityof550,000mt/year.
PTApriceswereassessedstableinAsiaduringweek2.CFRChinapricesofPTAwereassessed
steadyattheUSD995/mtlevels.Buyingsentimentswerereportedtobedullintheregion.CFR
SouthEastAsiapricesofPTAwereassessedattheUSD1000/mtlevels.CFRIndiapriceswere
assessed unchanged at the USD 1025/mt levels. Domestic prices of PTA in China were at the
Yuan 7360/mt levels. In plant news, Tongkun has shut its 1.5 mmt/year PTA plant, located in
ZhejiangprovinceinChinatowardstheendofOctober2013.Theplantisexpectedtoremain
shutforaperiodofaroundonemonth.Inanotherplantnews,RelianceIndustriesLtd(RIL)has
postponed the startup of its new 1 mmt/year PTA plant, located in Jamnagar in the western
IndianstateofGujarat,toSeptember2014.TheplantwasinitiallyscheduledforstartupinH1,
2014.
PTAinAsia edgedloweronNovember19. Thepricefallwassupportedbyadeclineinfellow
polyester feedstock MEG values. CFR China prices of PTA were assessed down at the USD
990/mtlevels,adayondayfallofUSD5/mt.Inthedomesticmarkets,PTApriceswerelower
attheYuan7330/mtlevels.
PTApricesdeclinedinAsiaduringweek3.Thepricefallwasaresultofweakerregionalbuying
trends coupled with sluggish downstream polyester demand sentiments. CFR China prices of
PTA were assessed lower at the USD 985/mt levels, a week on week fall of USD 10/mt. CFR
South East Asia prices of PTA were assessed down at the USD 990/mt levels, a drop of USD
10/mtontheweek.CFRIndiapriceswereassessedlowerattheUSD1015/mtlevels.Domestic
prices of PTA in China were down at the Yuan 7330/mt levels. In plant news, Hengli
D3 PTA Summary

87

Petrochemicalhasresumedproductionatits2.2mmt/yearNo.1PTAplant,locatedatDalian,
China.TheplantwasshutforamaintenanceturnaroundtowardstheendofOctober2013.
PTApriceslowerinAsiaonNovember27.Pricesfellaspurchaseinterestwasseenslackinthe
region.PricesofPTAwereassessedattheUSD975/mtCFRChinalevels,aslipofUSD5/mton
theday.
PricesofPTAonNovember28inchedhigherinAsia.AgaininfellowpolyesterfeedstockMEG
valuessupportedthepricerise.CFRChinapricesofPTAwereassessedupattheUSD980/mt
mark,ariseofUSD5/mtontheday.InChina,domesticpricesofPTAwerehigherattheYuan
7240/mtlevels.
PTA prices edged up in Asia during week 4. CFR China prices of PTA were assessed up at the
USD 985990/mt levels while CFR South East Asia prices of PTA were assessed at the USD
990/mt levels. CFR India prices were assessed at the USD 10151020/mt levels. Domestic
pricesofPTAinChinaweredownattheYuan7290/mtlevels.Inthecontractmarkets,Sinopec
has settled its PTA contract price for November at the Yuan 7550/mt levels. This price
representsafallofYuan300/mtfromOctoberlevels.Inplantnews,SamsungPetrochemicalis
likely to shut its No.1 and No.3 PTA plants, located at Ulsan, South Korea, for maintenance
turnaround, in July 2014 for a period of around 7 days. The No.1 and No.3 PTA plants have
productioncapacitiesof400,000mt/yearand450,000mt/yearrespectively.

88

D3FeedstockAverageWeeklyPTAPricesforNovember2013(USD/Tonne)
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
FarEastAsiaCFR
PTA 982 989 995 998 991 1023 1066 1101
SouthEastAsiaCFR
PTA 987 994 1000 1003 996 1028 1070 1103
PriceMovementofPTAduringAugust2013to
Grade
Nov13
Last4months(Aug13
Nov13)
High Low High Low
PTA
FEAsia 1000 975 1125 975
SEAsia 1005 980 1125 980
D3 PTA Price Chart & Graphical Trend
D3 PTA Price Movement

89

MEGpricesinAsiaedgedloweronNovember6.Pricesdeclinedonthebackofafallinenergy
values and softer fellow polyester feedstock PTA prices. CFR China prices of MEG were
assessed down at the USD 1035/mt levels, a drop of USD 5/mt on the day. In the domestic
marketsofChina,MEGpriceswerelowerattheYuan7450/mtlevels.
Despitesluggishbuyingtrendsandafallinupstreamethylenerates,MEGpricesinchedhigher
inAsiaduringweek1.ThepricerisewassupportedbyagaininPTAfuturesontheZhengzhou
CommodityExchange.CFRChinapriceofMEGwereassessedupattheUSD1040/mtlevels,a
week on week gain of USD 5/mt. CFR South East Asia prices of MEG were up at the USD
1045/mtlevels,ariseofUSD5/mtontheweek.InthedomesticmarketsofChina,localprices
of MEG were at the Yuan 7500/mt levels. In plant news, Nan Ya Plastics has resumed
production at its 350,000 mt/year No.1 MEG plant, located at Mailiao, Taiwan, on November
5,2013.Itwasshutforamaintenanceturnaroundofaboutonemonth.
MEG prices inched lower in Asia on November 14. Prices fell on account of weaker upstream
ethylene rates. CFR China prices of MEG were assessed down at the USD 1035/mt, a day on
day fall of USD 5/mt. In the domestic markets of China, MEG prices were lower at the Yuan
7480/mtlevels.
MEG prices declined in Asia during week 2. The price fall was attributed to lackluster buying
trends coupled with a fall in ethylene feedstock rates. Supporting the price decline were
bearish demand trends in downstream polyester markets. CFR China price of MEG were
assesseddownattheUSD1030/mtlevels,adropofUSD10/mtontheweek.CFRSouthEast
AsiapricesofMEGweredownattheUSD1035/mtlevels,aweekonweekfallofUSD10/mt.
InthedomesticmarketsofChina,localpricesofMEGwerelowerattheYuan7480/mtlevels.
Inplantnews,NanYaPlasticshasshutits350,000mt/yearNo.3MEGplant,locatedatMailiao,
Taiwan. The plant is expected to remain shut for maintenance turnaround of about 3040
days.
MEG prices drifted lower in Asia on November 19. The price drop was supported by softer
fellow polyester feedstock PTA prices. CFR China prices of MEG were assessed down at the
USD 1020/mt, a day on day fall of USD 5/mt. In the domestic markets of China, MEG prices
weredownattheYuan7370/mtlevels.
MEG prices drifted lower in Asia on November 21. The price drop was supported by softer
fellow polyester feedstock PTA prices. CFR China prices of MEG were assessed down at the
D4 MEG Summary

90

USD 1015/mt, a fall of USD 5/mt on the day. In the domestic markets of China, MEG prices
werelowerattheYuan7370/mtlevels.
Asdemandforspotcargoesdulled,pricesofMEGacrossAsiatumbledduringweek3.Sellers
were forced to slash their rates as buying interest in the downstream polyester sector
weakened. CFR China price of MEG were assessed down at the USD 1005/mt levels, a sharp
drop of USD 25/mt on the week. CFR South East Asia prices of MEG were down at the USD
1010/mt levels, a week on week fall of USD 25/mt. In the domestic markets of China, local
prices of MEG were lower at the Yuan 7350/mt levels. In the contract markets, Shell has
nominateditsMEGcontractpriceforDecemberattheUSD1200/mtCFRAsialevels.Thisprice
represents a fall of USD 15/mt from November levels. MEGlobal has also nominated its MEG
contract price for December at the USD 1200/mt CFR Asia levels, a fall of USD 20/mt from
Novemberlevels.
MEG prices in Asia edged higher on November 28. Prices gained on the back of firmer
feedstock ethylene values coupled with a rise in fellow polyester feedstock PTA values. CFR
China prices of MEG were assessed up at the USD 1025/mt levels, a rise of USD 5/mt on the
day.InChina,localpricesofMEGwereattheYuan7400/mtlevels.
Prices of MEG firmed during week 4 in Asia. Prices climbed on reports of an unplanned
shutdown at an MEG plant in Saudi Arabia. CFR China price of MEG were assessed up at the
USD 1025/mt levels, a sharp gain of USD 20/mt on the week. CFR South East Asia prices of
MEGwereupattheUSD1030/mtlevels,aweekonweekriseofUSD20/mt.Inthedomestic
markets of China, local prices of MEG were higher at the Yuan 7480/mt levels. In the plant
news, Eastern Petrochemical (Sharq) has shut its 700,000 mt/year No.4 monoethylene glycol
(MEG) plant, located at Al Jubail, Saudi Arabia, on November 26, 2013 owing to technical
issues.Inthecontractmarkets,SinopechassettleditsMEGcontractpriceforNovemberatthe
Yuan7650/mtlevels,afallofYuan400/mtfromOctoberlevels.

91

D4FeedstockAverageWeeklyMEGPrices@CNFIndiabasisfor
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
MEG 1027 1021 1041 1043 1033 1053 1078 1104
PriceMovementofMEGduringAugust2013to
Grade
Nov13
Last4months(Aug13
Nov13)
High Low High Low
MEG 1045 1010 1135 1010
D4 MEG Price Movement

D4 MEG Price Chart & Graphical Trend

92

Despite a rise in feedstock propylene values, ACN prices edged lower in Asia during week 1.
SofterbuyingsentimentsandafallindownstreamABSvaluessupportedthepricefall.CFRFar
EastAsiapricesofACNwereassesseddownattheUSD1860/mtlevels,aweekonweekfallof
USD5/mt.CFRSouthEastAsiapriceswereassessedlowerattheUSD1845/mtlevels,adrop
ofUSD5/mtontheweek.InSouthAsia,pricesofACNwereassessedattheUSD1800/mtCFR
levels. In the domestic markets of China, ACN prices were assessed at the Yuan 13800/mt
levels.
ACN prices dropped in Asia during week 2. Prices fell mainly on account of weak regional
buying sentiments coupled with bearish downstream ABS demand trends in the region. CFR
Far East Asia prices of ACN were assessed down at the USD 1845/mt levels, a drop of USD
15/mtontheweek.CFRSouthEastAsiapriceswereassessedlowerattheUSD1830/mtlevels,
aweekonweekfallofUSD15/mt.InSouthAsia,pricesofACNwereassesseddownattheUSD
1775/mtCFRlevels,adropofUSD25/mtontheweek.InthedomesticmarketsofChina,ACN
priceswereassessedlowerattheYuan13600/mtlevels.
ACN prices dropped in Asia during week 3. Prices fell mainly on account of weak regional
buying sentiments coupled with bearish downstream ABS demand trends in the region. CFR
Far East Asia prices of ACN were assessed down at the USD 1835/mt levels, a drop of USD
15/mt on the week. CFR South East Asia prices were assessed at the USD 1830/mt levels. In
South Asia, prices of ACN were assessed flat at the USD 1775/mt CFR levels. In the domestic
marketsofChina,ACNpriceswereassessedlowerattheYuan13400/mtlevels.
ACN prices journeyed south in Asia during week 4. Prices fell on the back of weak buying
sentiments in key markets like China coupled with a drop in feedstock propylene values. CFR
Far East Asia prices of ACN were assessed down at the USD 1825/mt levels, a week on week
fallofUSD10/mt.CFRSouthEastAsiapriceswereassessedlowerattheUSD1820/mtlevels.
In South Asia, prices of ACN were assessed steady at the USD 1775/mt CFR levels. In the
domestic markets of China, ACN prices were assessed lower at the Yuan 12900/mt levels. In
plant news, Sinopec Shanghai Petrochemical is expected to resume production at its 130,000
mt/year ACN plant, located at Jinshan, China, on December 25, 2013. The plant was shut for
maintenanceturnaroundonNovember20,2013.
E. Intermediates
E1 Acrylonitrile (ACN) Summary

93

E1IntermediatesAverageWeeklyAcrylonitrilePrices
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
FarEastAsiaCFR
ACN 1827 1837 1848 1862 1844 1870 1852 1772
SouthEastAsiaCFR
ACN 1822 1830 1833 1847 1833 1872 1852 1802
PriceMovementofACNduringAugust2013to
Petrochemical
Intermediates
Nov13
Last4months(Aug13
Nov13)
High Low High Low
ACN
FEAsia 1865 1825 1875 1750
SEAsia 1850 1820 1880 1790
E1 Acrylonitrile (ACN) Price Movement
E1 Acrylonitrile (ACN) Price Chart & Graphical Trend

94

DOPpricesfellinAsiaduringweek1asbuyingtrendssoftenedintheregion.CFRChinaprices
ofDOPwereassesseddownattheUSD1535/mtlevels,aweekonweekfallofUSD10/mt.CFR
SouthEastAsiapriceswereassessedlowerattheUSD1585/mtlevels,adropofUSD10/mton
theweek.DomesticpricesofDOPinChinawereassessedattheYuan10600/mtmark.
DOPpricesinAsiadeclinedduringweek2.Pricesslippedonthebackofafallinupstream2EH
values coupled with very sluggish regional demand trends. CFR China prices of DOP were
assesseddownattheUSD1525/mtlevels,aweekonweekfallofUSD10/mt.CFRSouthEast
AsiapriceswereassessedlowerattheUSD1575/mtlevels,adropofUSD10/mtontheweek.
DomesticpricesofDOPinChinawereassessedattheYuan11000/mtmark.
Despite a fall in feedstock 2EH values and sluggish demand trends, DOP prices in Asia were
assessed stable during week 3. CFR China prices of DOP were assessed steady at the USD
1525/mtlevelswhileCFRSouthEastAsiapriceswereassessedflatattheUSD1575/mtlevels.
DomesticpricesofDOPinChinawereassessedattheYuan11000/mtmark.
Despiteagaininfeedstock2EHvalues,DOPpricestumbledduringweek4inAsia.Pricesfellas
demandsentimentsweresubduedintheregion.CFRChinapricesofDOPwereassesseddown
attheUSD1505/mtlevels,asharpfallofUSD20/mtontheweek.CFRSouthEastAsiaprices
were assessed lower at the USD 1545/mt levels, a tumble of USD 30/mt. Domestic prices of
DOPinChinawereassesseddownattheYuan10900/mtmark.
E2 DOP Summary

95

E2IntermediatesAverageWeeklyDOPPricesfor
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
FarEastAsiaCFR
DOP 1515 1525 1530 1541 1528 1575 1598 1616
SouthEastAsiaCFR
DOP 1560 1575 1580 1591 1577 1616 1635 1651
PriceMovementofDOPduringAugust2013to
Petrochemical
Intermediates
Nov13
Last4months(Aug13
Nov13)
High Low High Low
DOP
FEAsia 1545 1505 1625 1505
SEAsia 1595 1545 1660 1545
E2 DOP Price Chart & Graphical Trends
E2 DOP Price Movement

96

Despite higher upstream propylene values, prices of 2EH were assessed stable in Asia during
week 1. CFR China prices of 2EH were assessed steady at the USD 1400/mt levels. In the
domesticmarkets,pricesof2EHwereassessedattheYuan10150/mtmark.Buyingsentiments
werereportedtobepoorintheregion.InSouthEastAsia,pricesof2EHwereassessedflatat
theUSD1425/mtCFRlevels.
Prices of 2EH slipped in Asia during week 2. The price fall was on the back of a decline in
upstream propylene costs on one hand and weak buying on the other. Also supporting the
decline was sufficient product availability in the region coupled with a drop in downstream
DOPvalues.CFRChinapricesof2EHwereassesseddownattheUSD1390/mtlevels,afallof
USD 10/mt on the week. In South East Asia, prices of 2EH were assessed lower at the USD
1415/mt CFR levels, a week on week drop of USD 10/mt. In the domestic markets of China,
pricesof2EHwereassessedattheYuan10100/mtmark.
InAsiaduringweek3,pricesof2EHwereseensliding.Pricesfellonthebackofsluggishbuying
trendscoupledwithampleproductavailsintheregion.CFRChinapricesof2EHwereassessed
downattheUSD1375/mtlevels,aweekonweekfallofUSD15/mt.Offerswereheardatthe
USD 1400/mt CFR China levels. In South East Asia, prices of 2EH were assessed lower at the
USD1400/mtCFRlevels,adropofUSD15/mtontheweek.Inthedomesticmarkets,pricesof
2EHwereassessedattheYuan10125/mtmark.
InAsiaduringweek4,pricesof2EHmarchedhigher.Limitedproductavailabilityintheregion
coupled with firmer feedstock propylene rates supported the price gain. CFR China prices of
2EHwereassessedupattheUSD1395/mtlevels,aweekonweekriseofUSD20/mt.InSouth
East Asia, prices of 2EH were assessed higher at the USD 1420/mt CFR levels, a gain of USD
20/mt on the week. In the domestic markets ofChina, prices of 2EH were assessedup at the
Yuan10500/mtmark.
E3 2EH Summary

97

E3IntermediatesAverageweekly2EHPricesfor
Grade W4 W3 W2 W1
Nov
13
Oct
13
Sep
13
Aug
13
FarEastAsiaCFR
2EH 1385 1383 1395 1400 1391 1426 1427 1451
SouthEastAsiaCFR
2EH 1410 1408 1420 1425 1416 1447 1447 1464
PriceMovementof2EHduringAugust2013to
Petrochemical
Intermediates
Nov13
Last4months(Aug13
Nov13)
High Low High Low
2EH
FEAsia 1400 1375 1465 1375
SEAsia 1425 1400 1475 1400
E3 2EH Price Chart & Graphical Trend
E3 2EH Price Movement

98

ThebuyingmoodwasveryslowintheopenmarketsofMumbaionNovember6.
DullbuyingmoodprevailsintheopenmarketsofMumbaionNovember7.
Thebuyingpulseremainedverysoftthroughouttheweek1intheopenmarketsofMumbai.
A very dull buying mood continued to prevail in the open markets of Mumbai on November
11.
12.
BuyingactivityremainedverysoftonNovember14intheopenmarketsofMumbai.
AdullbuyingmoodwasobservedintheopenmarketsofMumbaionNovember15.
18.
AslowbuyingmoodwasrecordedintheopenmarketsofMumbaionNovember19.
BuyingactivityremainedweakonNovember21intheopenmarketsofMumbai.
BuyingactivityremainedverysoftonNovember22intheopenmarketsofMumbai.
25.
ThebuyingmomentumwasveryslowintheopenmarketsofMumbaionNovember26.
F1 Indian Polymers Market Summary
F. Indian Polymers

99

ThepurchasepulseremainedverydullintheopenmarketsofMumbaionNovember27.
AdullbuyingmoodcontinuedtoprevailintheopenmarketsofMumbaionNovember28.
AveryslowbuyingmoodwasobservedintheopenmarketsofMumbaionNovember29.
PriceMovementofLLDPEinIndianPolymermarketforNovember2013(Rs./Kg)
LLDPE
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
Film 105.25 103.75 109.76 101.81
Roto
Moulding
105.45 103.95 108.95 102.99
Injection
Moulding
112.26 110.76 116.76 107.78
Extrusion
Coating
108.24 106.74 112.74 103.78
PriceMovementofLDPEinIndianPolymermarketforNovember2013(Rs./Kg)
(Note:LDPEpricesareexBhivandi,inclusiveofexciseduty)
LDPE
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
General
Purpose
123.56 123.56 128.62 119.63
HeavyDuty 127.91 127.91 132.97 122.85
MilkPouch 131.76 130.04 135.66 124.43
Injection
Moulding
128.52 128.52 133.57 124.58
Lamination 136.20 136.20 140.13 126.65
F2 Indian Polymers Price Movement

100

PriceMovementofHDPEinIndianPolymermarketforNovember2013(Rs./Kg)
HDPE
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
Raffia 108.34 106.84 110.84 101.94
Film 102.46 100.96 104.96 95.96
Injection
Moulding
105.33 103.83 101.83 99.97
Blow
Moulding
103.29 101.79 105.79 96.82
PriceMovementofPPinIndianPolymermarketforNovember2013(Rs./Kg)
PP
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
Raffia 110.03 108.53 116.03 106.75
Injection
Moulding
105.22 103.72 111.22 101.93
TQFilm 106.42 104.92 112.42 103.13
Block
Copolymer
107.31 105.81 113.31 104.03
Random
Copolymer
108.84 107.34 114.84 105.55
BOPP 108.54 105.54 113.04 103.74
PriceMovementofPVCinIndianPolymermarketforNovember2013(Rs./Kg)
PVC
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
Suspension 70.5 70.5 77.50 70.50

101

PriceMovementofPSinIndianPolymermarketforNovember2013(Rs./Kg)
PS
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
GPPS 130 130 140.00 130.00
HIPS 133 133 144.00 133.00
PriceMovementofABSinIndianPolymermarketforNovember2013(Rs./Kg)
ABS
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
ABS 144.97 144.97 146.97 133.97
PriceMovementofPETinIndianPolymermarketforNovember2013(Rs./Kg)
PET
Nov13
Last4months(Aug'13
Nov'13)
High Low High Low
Bottle 109.9 109.9 118.90 109.90

102

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majority of information is liable to change without any intimation or notice.
Polymerupdate.com will not be responsible for any decisions made based on the information
providedinthisreport.
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POLYMERUPDATE - Asian

Crude Oil Graphical Trend

Crude Oil Price Movement

NymexCrude DatedBrent WTICushing

Naphtha Graphical Trend

A.1 LLDPE Price Chart & Graphical Trend

A.1 LLDPE Price Movement

A.2 LDPE Summary

A.2 LDPE Price Chart & Graphical Trend

A.2 LDPE Price Movement

A.3 HDPE Price Chart & Graphical Trend

A.4 PP Price Chart & Graphical Trend

A.4 PP Price Movement A.4 PP Price Movement

A.5 Polyvinyl Chloride (PVC) Summary

A.5 - Polyvinyl Chloride (PVC) Price Chart & Graphical Trend

A.6 Polystyrene (PS) Summary

A.6 Polystyrene (PS) Price Chart & Graphical Trend

A.6 Polystyrene (PS) Price Movement

A.7 ABS Summary

B1 Benzene Price Movement

B2 Toluene Price Chart & Graphical Trend

FOBKorea 1255 1105 1255 1080

B2 Toluene Price Movement

B3 Xylene Price Chart & Graphical Trend

FOBKorea 1400 1365 1495 1360

FOBKorea 1410 1380 1510 1380

FOBKorea 1180 1165 1195 1120

FOBKorea 1240 1200 1325 1160

B4 Methanol Price Chart & Graphical Trend

CFRIndia 460 440 460 335

B4 Methanol Price Movement

C1 Butadiene Price Chart & Graphical Trend

Japan 1620 1340 1660 900

China 1720 1390 1760 1070

C1 Butadiene Price Movement

Japan 1315 1290 1355 1175

C3 Propylene Price Chart & Graphical Trend

Japan 1410 1380 1410 1325

C3 Propylene Price Movement

D1 Styrene Monomer Price Movement

D2 EDC/VCM Price Chart & Graphical Trend

D2 EDC/VCM Price Movement

D4 MEG Price Movement

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