BofA Global Research-Chemical Metal Watch Petrochemicals, electronic materials, ...-108648091

Accessibleversion10June2024ChemicalMetalWatchEquityJapanPetrochemicals,electronicmaterials,oilChemicals,Metal&Cables,TradingrefininghouseIndustryOverviewTableofContentsPetrochemicals:USPVCpricestrendingupwardEnergy&agriculturalproductsprices3AccordingtoIndependentCommodityIntelligenceServices(ICIS),USPVCpriceswereOilrefiningprices&margins3flatMoMinMay.FourUSPVCmakersannouncedtheywouldhiketheirpricesby2¢/lbinJune.ThefallinsupplybyOrbiaduetotheeffectsofdroughtcontinues.HighfreightPetrochemicalprices&margins3costsonAsianroutescontinuetoaffectPVCprices:intheweekstarting3June,USPVCexportpricesincreasedUS$20/tonWoWtoUS$820/ton.AccordingtoOilChem,freightGraphiteelectrodeprices3costsfromChinatoIndiahaveincreasedtoUS$130-160/ton,whilefreightcostsfromtheUStoIndiahaveremainedatUS$60-80/ton.ThisisatailwindforUSPVC.Also,Steel,otherrawmaterialprices/stats3IndiaisscheduledtointroduceBIScertification(Indianqualitystandards)forPVCinlateAugust,andcurrentlyonlyaround70%ofPVCimportedintoIndiacancomplywiththeNonferrousmetals/PGMsprices3standards.OilChemindicatedthiscouldleadtoproductshortagesinIndia.ThisisapositivedatapointforShin-EtsuChemical.MDIpricesinChinahaveincreased.SupplyTakashiEnomoto>>constraintslikelyhadanimpact,astheUSplantsofDow,Covestro,andBASFclaimedResearchAnalystforcemajeureinApril-May.ThisispositiveforTosoh.Bof...