Asian Markets

July 9, 2019

Thai PO and Polyol Market Update

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

http://www.pudaily.com/News/NewsView.aspx?nid=78326

May 31, 2019

Chinese Phenol Update

Corrected: China imposes preliminary ADDs on phenol imports from five origins

Source: ICIS News

2019/05/27

Correction: In the ICIS news story headlined “China imposes preliminary ADDs on phenol imports from five origins” dated 27 May please read in the first paragraph, “…antidumping duties (ADDs) of 11.9%…” instead of “…antidumping duties (ADDs) of 28.9%…”, and in the second paragraph “…which started on 26 March…” instead of “…which started on 28 March…”. A corrected version follows.

SINGAPORE (ICIS)–China has imposed preliminary antidumping duties (ADDs) of 11.9% to 129.6% on phenol imports from the US, EU, South Korea, Japan and Thailand with immediate effect.

Container ships docked at the Yangshan port in Shanghai, China. (Source: AP/REX/Shutterstock)The Chinese Ministry of Commerce announced on Monday the preliminary results of its ADD probe, which started on 26 March 2018.

Country/Region Company ADD
US INEOS Americas LLC 129.6%
US Blue Cube Operations LLC 125.4%
US Other US companies 129.6%
Europe INEOS Phenol GmbH 82%
Europe INEOS Phenol Belgium NV 82%
Europe Other European companies 82%
South Korea Kumho P&B Chemicals, Inc 13.9%
South Korea LG Chemicals 13.3%
South Korea Other South Korean companies 23.7%
Japan Mitsui Chemicals 81.2%
Japan Other Japanese companies 81.2%
Thailand PTT Phenol Company Limited 11.9%
Thailand Other Thai companies 28.6%

Source: China Ministry of Commerce

The release of the probe’s preliminary results had been delayed by the 90-day US-China trade war truce from early December 2018.

Market players expect China’s ADDs on phenol imports to be finalized in November.

China conducted the probe on the petition of domestic producers, including PetroChina Jilin Petrochemical, Changshu Changchun, CEPSA Shanghai, Sinopec Mitsui Chemicals, Bluestar Harbin Petrochemical, Yangzhou Shiyou and Huizhou Zhongxin.

The investigation covered the period 1 January 2014 to 30 September 2017.

US phenol imports (by country)

For US-origin phenol, the ADD is on top of the 10% import duty imposed in August 2018, a month since the US-China trade war began.

Since the fourth quarter of last year, there had been no US-origin phenol exported to China.

(Adds paragraphs 3-8, pie charts)

https://www.icis.com/explore/resources/news/2019/05/27/10369909/corrected-china-imposes-preliminary-adds-on-phenol-imports-from-five-origins?cmpid=SOC%7CRSS%7Ctwitter%7CFreeChemNewsFeed

May 31, 2019

Chinese Phenol Update

Corrected: China imposes preliminary ADDs on phenol imports from five origins

Source: ICIS News

2019/05/27

Correction: In the ICIS news story headlined “China imposes preliminary ADDs on phenol imports from five origins” dated 27 May please read in the first paragraph, “…antidumping duties (ADDs) of 11.9%…” instead of “…antidumping duties (ADDs) of 28.9%…”, and in the second paragraph “…which started on 26 March…” instead of “…which started on 28 March…”. A corrected version follows.

SINGAPORE (ICIS)–China has imposed preliminary antidumping duties (ADDs) of 11.9% to 129.6% on phenol imports from the US, EU, South Korea, Japan and Thailand with immediate effect.

Container ships docked at the Yangshan port in Shanghai, China. (Source: AP/REX/Shutterstock)The Chinese Ministry of Commerce announced on Monday the preliminary results of its ADD probe, which started on 26 March 2018.

Country/Region Company ADD
US INEOS Americas LLC 129.6%
US Blue Cube Operations LLC 125.4%
US Other US companies 129.6%
Europe INEOS Phenol GmbH 82%
Europe INEOS Phenol Belgium NV 82%
Europe Other European companies 82%
South Korea Kumho P&B Chemicals, Inc 13.9%
South Korea LG Chemicals 13.3%
South Korea Other South Korean companies 23.7%
Japan Mitsui Chemicals 81.2%
Japan Other Japanese companies 81.2%
Thailand PTT Phenol Company Limited 11.9%
Thailand Other Thai companies 28.6%

Source: China Ministry of Commerce

The release of the probe’s preliminary results had been delayed by the 90-day US-China trade war truce from early December 2018.

Market players expect China’s ADDs on phenol imports to be finalized in November.

China conducted the probe on the petition of domestic producers, including PetroChina Jilin Petrochemical, Changshu Changchun, CEPSA Shanghai, Sinopec Mitsui Chemicals, Bluestar Harbin Petrochemical, Yangzhou Shiyou and Huizhou Zhongxin.

The investigation covered the period 1 January 2014 to 30 September 2017.

US phenol imports (by country)

For US-origin phenol, the ADD is on top of the 10% import duty imposed in August 2018, a month since the US-China trade war began.

Since the fourth quarter of last year, there had been no US-origin phenol exported to China.

(Adds paragraphs 3-8, pie charts)

https://www.icis.com/explore/resources/news/2019/05/27/10369909/corrected-china-imposes-preliminary-adds-on-phenol-imports-from-five-origins?cmpid=SOC%7CRSS%7Ctwitter%7CFreeChemNewsFeed

May 31, 2019

Chinese Car Emissions

China’s Car Dealers on Hot Seat as Tougher Emissions Rules Kick In Early

Wu Ziye
/SOURCE : yicai
 

(Yicai Global) May 31 — Various Chinese cities will implement the world’s toughest automobile emission standards from July 1.

Nearly 70 percent of auto dealers said they have difficulty selling vehicles made per the former emission standard, sector statistics show.

China’s central government plans to institute the Sixth Stage National Vehicle Emission Standard, the world’s toughest, starting next July 1, but Beijing, Shenzhen, Guangzhou and Shanghai have all unveiled their respective policy documents to jump the gun and start from this July 1. Over 20 provinces and cities have also announced their plans for advance implementation of the new standard.

This has set the thumbscrews on dealers,  66 percent of whom in places where local governments will fast-track the new standard will be unable to clear all inventory manufactured under the formernorm by July 1, they said in a sample survey conducted by China Auto Dealers Chamber of Commerce, and 60 percent estimated around 100 vehicles will be left on their lots.

Many carmakers not only reduced prices to promote sales, but also forced vulnerable dealers to buy these vehicles to clear inventory, the survey also found. Some manufacturers also tried to offload these vehicles onto their employees at a discount.

Some carmakers are still enforcing sales targets for old models, said 44 percent of dealers surveyed in affected areas, while 86 percent said automakers have not agreed to take back unsold stock after July 1 or move unsold vehicles to areas as-yet unburdened by the new rules.

Heedless early activation of the new norms will impact the auto sales market, though it represents the general trend, Luo Lei, deputy secretary general at Beijing-based China Automobile Dealers Association, told Yicai Global. Most carmakers are also not yet ready, and prospective car buyers are waiting on the sidelines, Luo added.

Areas that jump-start the new standard should offer local dealers a transition period of at least three months sell off back stock, CADA suggested. Local governments should also mandate that carmakers buy back unsold products after transitional periods lapse.

Editors: Tang Shihua, Ben Armour

https://www.yicaiglobal.com/news/china-car-dealers-on-hot-seat-as-tougher-emissions-rules-kick-in-early

May 31, 2019

Chinese Car Emissions

China’s Car Dealers on Hot Seat as Tougher Emissions Rules Kick In Early

Wu Ziye
/SOURCE : yicai
 

(Yicai Global) May 31 — Various Chinese cities will implement the world’s toughest automobile emission standards from July 1.

Nearly 70 percent of auto dealers said they have difficulty selling vehicles made per the former emission standard, sector statistics show.

China’s central government plans to institute the Sixth Stage National Vehicle Emission Standard, the world’s toughest, starting next July 1, but Beijing, Shenzhen, Guangzhou and Shanghai have all unveiled their respective policy documents to jump the gun and start from this July 1. Over 20 provinces and cities have also announced their plans for advance implementation of the new standard.

This has set the thumbscrews on dealers,  66 percent of whom in places where local governments will fast-track the new standard will be unable to clear all inventory manufactured under the formernorm by July 1, they said in a sample survey conducted by China Auto Dealers Chamber of Commerce, and 60 percent estimated around 100 vehicles will be left on their lots.

Many carmakers not only reduced prices to promote sales, but also forced vulnerable dealers to buy these vehicles to clear inventory, the survey also found. Some manufacturers also tried to offload these vehicles onto their employees at a discount.

Some carmakers are still enforcing sales targets for old models, said 44 percent of dealers surveyed in affected areas, while 86 percent said automakers have not agreed to take back unsold stock after July 1 or move unsold vehicles to areas as-yet unburdened by the new rules.

Heedless early activation of the new norms will impact the auto sales market, though it represents the general trend, Luo Lei, deputy secretary general at Beijing-based China Automobile Dealers Association, told Yicai Global. Most carmakers are also not yet ready, and prospective car buyers are waiting on the sidelines, Luo added.

Areas that jump-start the new standard should offer local dealers a transition period of at least three months sell off back stock, CADA suggested. Local governments should also mandate that carmakers buy back unsold products after transitional periods lapse.

Editors: Tang Shihua, Ben Armour

https://www.yicaiglobal.com/news/china-car-dealers-on-hot-seat-as-tougher-emissions-rules-kick-in-early