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Research | Time:May 12 2017 8:34AM
PTMEG: price stops falling, supply&demand pattern alters slightly
 
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Foreword
Perspective: PTMEG market has revived and is not under losses this year stimulated by rebound in commodity market after experiencing 5-year reduction, and price of PTMEG changed greatly this year.

Fundamentals of PTMEG industry is still robust in the first half of 2017 affected by the turnaround of units and the force majeure overseas, and supply is supposed to be stable to tight.

But the strong appearance on PTMEG market may disappear when downstream market meets difficulty in passing on high cost and traditional slack season is approaching. Demand from downstream market especially from spandex industry may exert greater influence on PTMEG market trend.

Supply and demand status should be noted: Supply and demand pattern on PTMEG market changes. Supply is tight in China, and that of imported resources increases. PTMEG units start operation overseas, and exports of PTMEG slip greatly.

Supply of PTMEG is expected to be in shortage in short run but supply and demand may reach balance from the third quarter of 2017 after some units resumed production.

Content (8 pages)
1. PTMEG operation trend
2. Higher cost
3. Demand grows and supply is tight
4. PTMEG net import
5. Worries on slack season

Chart
Chart 1. Price of PTMEG since 2015
Chart 2. Price spread of PTMEG and BDO since 2016
Chart 3. Price of PTMEG and BDO since 2016
Chart 4. Price of calcium carbide, propylene and butadiene since 2016
Chart 5. Capacity of spandex and PTMEG since 2012
Chart 6. Operating rate of spandex and PTMEG industry since 2016
Chart 7. Net import of PTMEG since 2016
Chart 8. Imports of PTMEG for spandex and import dependency since 2016
Chart 9. Price and inventory of spandex in 2017

Table
Table 1. Price change of PTMEG
Table 2. Turnaround plan of PTMEG units in Apr-May, 2017

If you need the report, please contact us at:
T 86-571-83786653, 83786504
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Email: market@ccfgroup.com
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