Wanhua Q1 Results
Wanhua Enjoys 400-kt PU Products Sales in Q1
PUdaily, Shanghai-Wanhua Chemical issues the data related to its main businesses in the first quarter of 2017.
Ⅰ. Production, sales and revenue
|Products||Production (ton)||Sales (ton)||Revenue (million yuan)|
Ⅱ. Price fluctuations of major products and feedstocks
- Price fluctuations of major products
MDI is staying at a high level amid short supply in Q1, with an upsurge compared with the same period in 2016. Quotations are as followed:
|Product||Year||January (yuan/ton）||February (yuan/ton）||March (yuan/ton）|
|Polymeric MDI (direct selling)||2017||22,000||24,000||27,000|
|Polymeric MDI (distribution)||2017||22,000||24,000||26,000|
In the first quarter, various petrochemical products experience their own waxed and waned compared with Q4 in 2016. Yet, the overall trend is going up year on year, in conformity with the price of crude oil.
Propylene is offered at RMB 7,630/ton on average in Shandong province, a year-on-year rise of 46.92%; PO is offered at RMB 10,590/ton on average in east China, a year-on-year rise of 37.57%; MTBE is offered at RMB 5,214/ton on average in Shandong province, a year-on-year rise of15.57%;
- Price fluctuations of major feedstocks
In early 2017, domestic demand for benzene is in prosperity amid continuous high-load operation in downstream, pushing its price to RMB 9,000/ton. However, given lowering prices of downstream products and high inventory, benzene price starts declining from middle February, and the quotation plummets to RMB 6,500/ton in late March.
Coal for chemical industry
In the second half of 2016, coal market surges up amidst short supply posed by supply-side reform. In the first quarter, the purchase price rises by nearly 50% over the same period last year.
LPG prices are affected by crude oil violations plus supply-demand relations per se. In Middle East, price of CP propane goes up to USD 510/ton in February from USD 380/ton in December, and then, slides to USD 480/ton in March; price of CP butane goes up to USD 600/ton in February from USD 420/ton in December, with no changes in March.
Ⅲ. No other major events are reported to have influence on production and operation.
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