China IPDI Market Begins to Climb on Bullish Buying Interests
2013-12-18 [Source:PUdaily]
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PUdaily, Shanghai-China IPDI market begins to rise on the back of strong buying interests ahead of New Year and traders also raise their offers to chase the bullishness, according to market sources.
In east China, distributors slow down their sales pace and hike offers on increasing demand and the need to recoup loss. Downstream buyers return the market and build some inventories in light of New Year and Chinese Spring Festival, during which trading business will be suspended. Consequently, the mainstream prices rise by 500-1000/ton comparing with the end of November.
To suppliers’ front, Evonik lowers unexpectedly its offers to snatch market share from its rivals and its sole agent/distributor in China Hersbit Chemical also offers discount or other terms in east China. Bayer MaterialScience is expected to make the countermeasure to protect its business while Vencorex from France usually revises its offers along with other two suppliers.
In South China, the market, by contrast, stays rather stable because end users do not feel so optimistic about next year demand. Local traders escalate sales to receive account from buyers, and smuggles holders, however, choose to not sell now waiting for higher prices in next year.
Some PU resin plants in Fujian province are to default to play for IPDI deals and other sectors also show stagnant status.
Mainstream offers for the three main sources in mid-Dec. are below for your info: (RMB/ton)
Source
East China
South China
(invoice included)
South China (invoice excluded)
Bayer MaterialScience
68500-69000
67500-69000
66500-68000
Evonik
68000-69000
67500-68500
66500-67000
Vencorex
68500-70000
68000-68500
67000-67500
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