The Urethane Blog

Wanhua Q1 Results

Wanhua Enjoys 400-kt PU Products Sales in Q1

2017-05-02    [Source:PUdaily]


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)
PU 348,799 400,804 607.96
Petrochemical 377,190 670,580 331.58
Functional materials 34,942 27,318 38.52
Specialty Chemicals 19,695 15,757 42.62

Ⅱ. Price fluctuations of major products and feedstocks

  1. Price fluctuations of major products

MDI 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)
Pure MDI 2017 22,200 23,200 25,700
2016 16,600 16,600 17,600
Polymeric MDI (direct selling) 2017 22,000 24,000 27,000
2016 12,000 10,500 11,500
Polymeric MDI (distribution) 2017 22,000 24,000 26,000
2016 12,000 10,500 10,800

Petrochemical products

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%;

  1. 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.