The Life of Cramer 215
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US polypropylene export price nears 86-month short on supply excess
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US export homopolymer polypropylene rates were near an 86-month low on Thursday, as prices levels were chatted near the $950/mt FAS Houston, which resources attributed to high run rates, high imports of both finished items as well as resin and also high supplies.
The Thursday pricing was in line with the Wednesday export homopolymer evaluation, which was secured at $937-$959/mt FAS Houston, itself the most affordable given that Might 26, 2009, when it stood at $926-$948/mt FAS Houston, S&P Global Platts data showed.
HEDP was based on export rail-car pricing heard at 40 cents/lb ($882/mt) as well as accounted for bagging as well as transportation-to-port expenses completing 3 cents/lb ($66/mt).
Residential prices were heard close to $$923-$971/mt (42-44 cents/lb) rail car as well as contracts at $1,146/ mt (52 cents/lb) rail auto.
Export prices hit a year-to-date high January 10 at $1,389/ mt FAS Houston. At the time rates in Asia remained in the reduced $800s/mt, triggering a flooding of imports to the United States of both completed products and also raw resin.
Polypropylene imports right into the US in May completed 39,171 mt, up from 15,692 mt in Might 2015, information from the American Gas as well as Petrochemical Manufacturers revealed.
The running total amount of imports for 2016 was 178,658 mt, compared with 68,364 mt in the 2015 period, and also representing around 96.7% of the 2015 full-year import total amount of 184,704 mt, AFPM data showed.
Brazil, South Korea, and Saudi Arabia gave the highest possible volumes in May, with 9,224 mt, 5,578 mt and also 4,509 mt delivered right into the US, respectively, the information revealed.
PP producers in the United States were confronted with a period of reasonably weak polymer-grade propylene rates, which have actually been in the variety of $660-$720/mt because last July-- a degree last seen in 2008-- as well as leading to steady build-up in margins because early 2015, to reach around $660/mt in the beginning of the 2016. The flood of imports in the very first fifty percent of the year reduced that margin to $150 for homopolymer exports in July.
The Thursday pricing was in line with the Wednesday export homopolymer evaluation, which was secured at $937-$959/mt FAS Houston, itself the most affordable given that Might 26, 2009, when it stood at $926-$948/mt FAS Houston, S&P Global Platts data showed.
HEDP was based on export rail-car pricing heard at 40 cents/lb ($882/mt) as well as accounted for bagging as well as transportation-to-port expenses completing 3 cents/lb ($66/mt).
Residential prices were heard close to $$923-$971/mt (42-44 cents/lb) rail car as well as contracts at $1,146/ mt (52 cents/lb) rail auto.
Export prices hit a year-to-date high January 10 at $1,389/ mt FAS Houston. At the time rates in Asia remained in the reduced $800s/mt, triggering a flooding of imports to the United States of both completed products and also raw resin.
Polypropylene imports right into the US in May completed 39,171 mt, up from 15,692 mt in Might 2015, information from the American Gas as well as Petrochemical Manufacturers revealed.
The running total amount of imports for 2016 was 178,658 mt, compared with 68,364 mt in the 2015 period, and also representing around 96.7% of the 2015 full-year import total amount of 184,704 mt, AFPM data showed.
Brazil, South Korea, and Saudi Arabia gave the highest possible volumes in May, with 9,224 mt, 5,578 mt and also 4,509 mt delivered right into the US, respectively, the information revealed.
PP producers in the United States were confronted with a period of reasonably weak polymer-grade propylene rates, which have actually been in the variety of $660-$720/mt because last July-- a degree last seen in 2008-- as well as leading to steady build-up in margins because early 2015, to reach around $660/mt in the beginning of the 2016. The flood of imports in the very first fifty percent of the year reduced that margin to $150 for homopolymer exports in July.
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