China Polyurethane Monthly Report 201601
2016-02-23    [Source:PUdaily]

1. Polyurethane Market Retrospect

Polyurethane (PU) raw materials market has been tumbling since Jan. 1, 2016, as is shown in the PU Composite Index that falls below 700 points. Most products encounter continuous price decrement as expected, whilst only a few stabilize or move up. Besides, the market resumes steady running before Chinese Spring Festival as most downstream manufacturers stop production in H1 of February and spot trading be suspended before the holiday.

In H2 of February, demand might remain tepid throughout February, as it will take time for downstream sectors to resume production. Thusly, the overall market is anticipated to be in a stalemate without the support from stronger demand, leading to a low PU boom degree. Wait-to-see atmosphere will prevail in PU market with market players expecting new market signals from manufacturers...

1.1. Polyurethane Index Analysis

1.1.1 Composite Index 

PUdaily PU composite index extends downward tendency throughout January and goes up a little in the end. Even though PU resin index keeps range-bound, both flexible and rigid foam indexes inch down in January as demand weakens when downstream manufacturers reduce production ratio before Spring Festival...

1.2. 1.1.2 Flexible Foam Index

1.3. 1.1.3 Rigid Foam Index


2. Polyurethane Raw Material Market

2.1. Propylene Oxide

2.1.1 Market Overview

China propylene oxide market falls down noticeably as terminal demand stays fatigue whilst polyols manufacturers purchase cautiously when encountering unsmooth deliveries. Some major propylene oxide manufacturers are under high inventory pressure and cut down price to release stress. Moreover, raw materials prices keep hiking, which all cause propylene oxide price to hit the lowest level and even fall below cost production line...


2.1.4 Import & Export Data

China propylene oxide imports were 16,536 tons in December, decreasing by 58.59% year on year and increasing by 1.38% month on month, and total imports total up to 261,143 tons in 2015. Most imported cargoes are from Thailand and USA...


3. Polyurethane Products Market Analysis

3.1. Flexible Foam

In this month, China flexible foam market still suffers from weak running and trading activities are limited. Most downstream factories are running with low loads in line with disappointing TDI and polyols markets. Later this month, downstream users have less buying interest and some even shut down factories in advance for upcoming Spring Festival, causing few transactions in the market....


4. Downstream Industries

4.1. Flexible Foam Downstream

4.1.1 Automobile

According to statistical analysis from China Association of Automotive Manufacturers (CAAM), China automobile output from January to December were 24,503,000 units, including 21,079,000 passenger cars and 3,424,000commercial cars.According to statistical analysis from China Association of Automotive Manufacturers (CAAM), China automobile output from January to December were...


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