PCA 000280

280--Platts European PP Assessments - 13Mar19

New York (Platts)--13Mar19/1253 pm EDT/ 1653 GMT

Symbol Low-High Midpoint Change

Homo Inj Germany euro/mt <HPAMY00> 1358.00-1362.00 1360.000 20.000
Homo Inj Holland euro/mt <HPAMZ00> 1358.00-1362.00 1360.000 20.000
Homo Inj Italy euro/mt <HPANA00> 1348.00-1352.00 1350.000 20.000
Homo Inj France euro/mt <HPANB00> 1358.00-1362.00 1360.000 20.000
Homo Inj Britain GBP/mt <PHANC00> 1167.00-1171.00 1169.000 16.000
Homo Inj Spain euro/mt <HPAWI04> 1348.00-1352.00 1350.000 20.000

Copol Germany euro/mt <HPAND00> 1408.00-1412.00 1410.000 20.000

Copol Holland euro/mt <HPANE00> 1408.00-1412.00 1410.000 20.000
Copol Italy euro/mt <HPANF00> 1398.00-1402.00 1400.000 20.000
Copol France euro/mt <HPANG00> 1408.00-1412.00 1410.000 20.000
Copol Britain GBP/mt <PHANH00> 1210.00-1214.00 1212.000 16.000
Copol Spain euro/mt <HPAWK04> 1398.00-1402.00 1400.000 20.000

Homo FD NWE spot euro/mt <AALUR00> 1198.00-1202.00 1200.000 20.000

Copol FD NWE spot euro/mt <AALUT00> 1258.00-1262.00 1260.000 20.000

Homo FD NWE contract $/mt <PHAID00> 1535.00-1539.00 1537.000 20.000

Copol FD NWE contract $/mt <PHAHX00> 1592.00-1596.00 1594.000 21.000

Homo FCA Antwerp euro/mt <AAVKC00> 1178.00-1182.00 1180.000 20.000

Copol FCA Antwerp euro/mt <AAVYS00> 1238.00-1242.00 1240.000 20.000

Homo FOB NWE $/mt <PHAIE00> 1287.00-1291.00 1289.000 21.000

Copol FOB NWE $/mt <PHAHY00> 1354.00-1358.00 1356.000 20.000

Homo CFR Russia

(St. Petersburg) euro/mt <AAUMX00> 1113.00-1117.00 1115.000 20.000
Copol CFR Russia
(St. Petersburg) euro/mt <AAUMY00> 1173.00-1177.00 1175.000 20.000

Homo CFR Turkey (Istanbul) $/mt <AAWXQ00> 1148.00-1152.00 1150.000 15.000

Copol CFR Turkey (Istanbul) $/mt <AAWXR00> 1218.00-1222.00 1220.000 0.000
Raffia CFR Turkey (Istanbul) $/mt <AAVKG00> 1148.00-1152.00 1150.000 15.000

Homo FR North Africa $/mt <AAVWJ00> 1138.00-1142.00 1140.000 35.000

Copol FR North Africa $/mt <AAVWL00> 1178.00-1182.00 1180.000 0.000
Raffia FR North Africa $/mt <AAVWK00> 1138.00-1142.00 1140.000 35.000

Homo Inj CFR West Africa $/mt <ABAAL04> 1158.00-1162.00 1160.000 35.000
Copol CFR West Africa $/mt <ABAAM04> 1188.00-1192.00 1190.000 0.000
Raffia CFR West Africa $/mt <ABAAN04> 1158.00-1162.00 1160.000 35.000

NWE polypropylene market commentary can be found on <PCA0517>

http://www.platts.com/Petrochemicals/Resources/

--Global Petrochemical Alert-- Cont p517

PCA 000517
517--NWE Polypropylene - Spot, contract prices increase on month
London (Platts)--13Mar2019/1256 pm EDT/1656 GMT

- Higher feedstock cost in March

- Healthy supply availability

The European homo injection polypropylene spot price was assessed Wednesday at
Eur1,200/mt FD NWE, with the European copol spot price at Eur1,260/mt FD NWE,
up Eur20/mt on the week. European gross contract prices were assessed at
Eur1,360/mt FD NWE for PP homo and Eur1,410/mt FD NWE for copol, also up
Eur20/mt on the month. The increases in the spot and contract markets followed
higher March propylene CPs, which rose Eur25/mt month on month at the end of
February. Several market players said some buyers were willing to accept the
full monomer increase, while others said they were still negotiating. This is
the first time CPs rose since June, according to S&P Global Platts data. While
feedstock propylene cost continued to increase during 2018, polypropylene
prices remained relatively stable, hurting polypropylene producers' margins.
"We managed to capture some margin improvement this month," one source said.
Market players said the trend was expected to continue in April with the start
of the steam cracker turnaround season. Despite the increases, sources said
supply was healthy across Europe, and demand was balanced. "The market is not
tight but I don't see a lot of hesitation on accepting higher costs," another
source said. Looking ahead, Sabic's polypropylene plant in Gelsenkirchen,
Germany is expected to undergo maintenance for around 12-13 days starting
Saturday, a source close to the company previously said.

RATIONALE:
S&P Global Platts assessed spot polypropylene prices at Eur1,200/mt FD NWE
for homo polymer and at Eur1,260/mt FD NWE for co-polymer, both up Eur20/mt
on the week. Homo polymer was heard pegged within a range of
Eur1,180-1,240/mt, and copol was heard pegged within a Eur1,220-1,300/mt range
by multiple sources, as well as in an uncorroborated range of
Eur1,155-1,200/mt by a buyer. Platts assessed homo injection and copol up
Eur20/mt on the week in line with market feedback of higher prices due to an
increase in propylene March prices. In contract prices, Platts assessed PP
homo at Eur1,360/mt FD, with PP copol maintaining a steady Eur50 premium at
Eur1,410/mt FD, both up Eur20/mt on the month, partially tracking the
propylene March increase and pending further corroboration from the market.

*Weekly price assessments can be found on PCA 280.

--Global Petrochemical Alert--

PCA 000538
538--Africa & Turkey Polypropylene - Turkish raffia prices up on tighter
availability
London (Platts)--13Mar2019/111 pm EDT/1711 GMT

- Lower Iranian activity in Turkish market

- Politics weighs on Algerian demand

Polypropylene spot prices in the Turkish market were under upward pressure
throughout the week as the upcoming Iranian New Year holiday led to a drop in
Iranian offers in the Turkish market, as well as an increase in freight costs
as Iranian truck availability becomes scarce. Speaking of the PP market, one
Turkish trader said: "At the moment it is tight but not because of increasing
demand but [because of] problems of delivery." Overall, demand in the Turkish
market remains subdued ahead of elections at the end of March. Market sources
remain concerned about wider economic and political developments, and in
particular the volatility of the Turkish lira-US dollar exchange rate.
"Politics, not plastics, is our priority," the trader said. PP raffia spot
prices in Turkey were assessed up $15/mt on the week at $1,150/mt CFR Turkey.
However, market sources saw no change in PP copolymer spot prices in the week,
despite the upward pressure in other parts of the market. S&P Global Platts
assessed CFR Turkey PP copolymer spot prices unchanged on the week at
$1,220/mt. In the African markets, prices have also seen upward pressure,
although uncertain demand limited spot price increases, as higher offers were
largely rejected by buyers. Additionally, like in Turkey, political
uncertainty is weighing on demand in parts of North Africa. "In Algeria there
are political issues -- converters and consumers are very cautious in
Algeria," one trader said. CFR North Africa PP raffia spot prices were
assessed up $35/mt at $1,140/mt, while CFR North Africa copolymer spot prices
were assessed unchanged on the week at $1,180/mt.

RATIONALE:
S&P Global Platts assessed CFR Turkey PP raffia spot prices up $15/mt on the
week to $1,150/mt, the bottom of a range pegged at $1,150-$1,170/mt. CFR
North Africa PP raffia was assessed up $35/mt at $1,140/mt, the bottom of a
range pegged at $1,140-$1,160/mt and CFR West Africa PP raffia was assessed
up $35/mt, in line with the increase in North Africa, at $1,160/mt, below an
offer at $1,200/mt. CFR Turkey copolymer spot prices were assessed flat at
$1,220/mt, above pegs of $1,200-$1,210/mt for Middle East material and below
offers at $1,260-$1,270/mt for Far East Asian material. CFR North Africa PP
copolymer spot prices were assessed flat at $1,180/mt, the bottom of a range
heard pegged at $1,180-$1,200/mt. CFR West Africa PP copolymer spot prices
were also assessed unchanged at $1,190/mt, in line with stability in Turkey
and North Africa and below an offer pegged at $1,250/mt.

*Weekly price assessments can be found on PCA 280

--Global Petrochemical Alert--

PCA 000281
281--Platts US PP weekly Assessments - 13MAR19
New York (Platts)--13Mar19/0400 pm EDT/ 2000 GMT
Symbol Low-High Midpoint Change

HOMO FAS Houston $/MT <PHAIB00> 1047.00-1069.00 1058.000 0.000

COPOL FAS Houston $/MT <PHAHV00> 1113.00-1135.00 1124.000 0.000
HOMO INJ US Domestic* cts/lb <AAGZL00> 56.00-57.00 56.500 0.000
HOMO FIBER US Domestic* cts/lb <AAGZM00> 58.00-59.00 58.500 0.000

*Delivered railcar
US PP weekly commentary can be found on <PCA1510>

For questions or additional information about these assessments, please contact

americaspetrochemicals@platts.com
http://www.platts.com/petrochemicals/resources

--Global Petrochemical Alert-- Cont p295

PCA 000282
282--Asian Weekly PP Price Assessments - 13Mar19
New York (Platts)--13Mar19/0458 am EDT/ 0858 GMT

Symbol Low-High Midpoint Change

CFR FE Asia==================================================================
PP RAFFIA $/mt <PHBIK00> 1069.00-1071.00 1070.000 0.000
PP INJECTION $/mt <PHBIF00> 1069.00-1071.00 1070.000 10.000
IPP FILM $/mt <PHASI05> 1099.00-1101.00 1100.000 20.000
BOPP $/mt <AAAYW00> 1089.00-1091.00 1090.000 10.000
BLOCK COPOL $/mt <PHAHZ00> 1109.00-1111.00 1110.000 20.000

CFR SE Asia==================================================================
PP RAFFIA $/mt <PHBIJ04> 1109.00-1111.00 1110.000 10.000
PP INJECTION $/mt <PHBIH04> 1109.00-1111.00 1110.000 10.000
IPP FILM $/mt <PHASK05> 1129.00-1131.00 1130.000 15.000
BOPP $/mt <AAAYY00> 1124.00-1126.00 1125.000 15.000
BLOCK COPOL $/mt <PHAIA00> 1139.00-1141.00 1140.000 15.000

CFR S Asia===================================================================
PP RAFFIA $/mt <PHBIL04> 1119.00-1121.00 1120.000 15.000
PP INJECTION $/mt <PHBII04> 1119.00-1121.00 1120.000 15.000
IPP FILM $/mt <AAAYS00> 1139.00-1141.00 1140.000 15.000
BOPP $/mt <AAAYU00> 1149.00-1151.00 1150.000 25.000
BLOCK COPOL $/mt <AAAZA00> 1159.00-1161.00 1160.000 20.000

CHINA DOMESTIC RAFFIA <AAOTY00> 8830.00-8870.00 8850.000 -50.000

(Yuan/mt ex-works)

Weekly PP commentaries can be found on <PCA695>, daily PP price assessments for CFR
Far East Asia can be found on <PCA965>. Middle East Netbacks can be found on
<PCA620>.

http://www.platts.com/Petrochemicals/Resources/

--Global Petrochemical Alert--

PCA 000695
695--Asian PP: Stable to firm on deals
Singapore (Platts)--13Mar2019/640 am EDT/1040 GMT

- Korea's Polymirae to shut 1 of 4 lines from May 20

- Outlook for H2 firm on cost push

Asian polypropylene was generally stable to higher in the week to Wednesday.

Copolymer grades continued to remain snug on a general lack of Asian plant
capacities that can produce these grades, while raffia grades in China
remained stable amid thin trade as buyers were hoping for physical prices to
follow the fall in futures. Some of the excess homopolymers is also expected
to flow into South America, where there was a deficit of around 300,000
mt/year in 2019, according to S&P Global Platts Analytics. Market
participants expect polypropylene prices to rise in the second half of the
year, due to increases in feedstock naphtha and dry bulk container freight
shipping, the latter to a much lesser extent. Refiners had started to
reconfigure their output to change fluid catalytic cracker yields to
maximize distillate production for low sulfur bunker fuels ahead of IMO 2020
implementation, resulting in less feedstock into the cracker unit, market
sources said. This would result in a tighter feedstock naphtha market. A
naphtha "cost push" would result in higher PP production cash cost and hence
higher PP prices, during H2 2019 and 2020, market sources added. Some market
estimates showed that PP could increase by up to 20% in line with their own
projections on the rise in naphtha. As container shipping could be less than
$10/mt for routes originating from the Middle East, while the cost of PP
resin was around $1,070/mt CFR FE Asia, companies were not overly concerned
with the increase in bulk container freight costs. The percentage of PP
produced from the FCC route will hence fall to 22.6%, down by around 1% year
on year in 2019, according to Platts Analytics and market sources. Most
producers were looking at feedstock correlation as predictors of pricing,
primarily at Asian methanol and also due to the fact it had the highest
production cost as the sellers usually wanted to achieve the best netback
for themselves. As Asia was net deficit in PP and the customers were more
concerned over the familiarity of resin and ease of use, the sellers were
usually able to push their costs through, market sources said. In plant
news, South Korea's Polymirae Co. plans to shut one of its four
polypropylene lines for 18 days of planned maintenance from May 20, in line
with turnaround at a steam cracker, a company source said. Polymirae has
four PP lines, each with around 175,000 mt/year capacity, and a combined
capacity of 700,000 mt/year. State-owned PetroChina is planning to halt its
polypropylene units, with an overall 690,000 mt/year capacity in Dushanzi in
western Xinjiang province, for a 60- day turnaround from end-July, market
sources said.

RATIONALE:
Asian polypropylene of raffia grade was assessed flat day on day and week on
week, at $1,070/mt CFR Far East Asia Wednesday, below an offer at $1,080/mt
CFR NE Asia. Injection grade was assessed at $1,070/mt CFR Far East Asia, up
$10/mt week on week, as market participants said there was no difference
between the raffia and injection grades. IPP was assessed at $1,100/mt CFR
FE Asia, up $20/mt based on a spread of $30/mt from raffia.
Biaxially-oriented PP was assessed up $10/mt week on week at $1,090/mt CFR
Far East Asia, reflecting the spread between raffia and BOPP at $20/mt.
Buying ideas were heard at $1,075/mt CFR FE Asia or a premium of $5/mt over
the benchmark raffia grade. Block copolymer was assessed up $20/mt week on
week at $1,110/mt CFR Far East Asia, maintaining a spread of $40/mt.
Homopolymer PP of the raffia and injection grades were assessed at $1,120/mt
CFR S Asia, below offers at $1,140/mt CFR.

(Weekly price assessments are found on PCA282, daily price assessments on

PCA965. Middle East Netbacks are found on PCA620)

--Global Petrochemical Alert--

PCA 000283
283--Platts Latin American PP weekly Assessments - 13MAR19
New York (Platts)--13Mar19/0449 pm EDT/ 2049 GMT

Symbol Low-High Midpoint Change

FOT BRAZIL PP COPOL $/mt <PHATL00> 1215.00-1225.00 1220.000 0.000

FOT BRAZIL HOMO $/mt <PHATN00> 1145.00-1155.00 1150.000 0.000
CFR WCSA PP COPOL $/mt <AASVN00> 1200.00-1210.00 1205.000 0.000
CFR WCSA HOMO $/mt <AASVO00> 1140.00-1150.00 1145.000 0.000
CFR BRAZIL PP COPOL $/mt <AAVRG04> 1205.00-1215.00 1210.000 0.000
CFR BRAZIL HOMO $/mt <AAVRA04> 1155.00-1165.00 1160.000 0.000

WCSA represents West Coast South America including major ports in Chile, Peru,
Colombia and Ecuador.
Latin American PP weekly commentary can be found on <PCA1560>

For questions or additional information about these assessments, please contact

americaspetrochemicals@platts.com
http://www.platts.com/petrochemicals/resources

--Global Petrochemical Alert-- Cont p816

PCA 001510
1510--US PPPL weekly: PP spot price stabilizes
Houston (Platts)--13Mar2019/449 pm EDT/2049 GMT

- Feedstock PGP inventory retreats

- Increase in PP demand anticipated

US homopolymer injection-grade polypropylene was assessed flat on the week,

with market participants matching relative stability in PP against steadying
polymer-grade propylene prices. US PP was assessed at $1,058/mt (48.00
cents/lb) FAS Houston after sources said mid-40s cents/lb bulk rail car was
the range for conducting business. Inventories for PGP have scaled back from
recent record highs, allowing for an expected build in demand for PP tied to
the onset of spring. "The weather is getting warmer. There will be some market
segments that pick up," a source said. While some rail cars have been sold at
47 cents/lb, the volume on those transactions is low. "Producers have to get a
little more aggressive on pricing," one source said. "(At) 44-45 is the range
they need to be in." While there isn't a consensus among market participants
on a pricing floor for PGP, sources said current spot prices were low enough
to entice consumers to enter the market soon. A shift in activity will unfold
once fundamentals change. "The prices are there," one source said. "People
just don't need (PP) yet." Sources said if demand doesn't increase later this
month, it should in April.

RATIONALE:
Export homopolymer injection-grade polypropylene was assessed Wednesday at
$1,047-$1,069/mt FAS Houston, flat on the week. The homopolymer assessment was
based on export rail cars discussed in the mid-40s cents/lb. Co-polymer grades
were assessed at $1,113-$1,135/mt, also flat on the week, based on the premium
to homopolymer last talked at a minimum of $66. Domestic pricing was assessed
at 56.00-57.00 cents/lb delivered rail car basis for homopolymer injection
grades, flat on the week. The price was based on an 18-cent premium over
February feedstock PGP contracts, which settled down 1.5 cents at 38.5
cents/lb. Domestic pricing was assessed at 58.00-59.00 cents/lb delivered rail
car basis for homopolymer fiber, also flat on the week, keeping a 20-cent
premium over the February PGP contract.

*Weekly prices can be found on PCA 281.

 --Global Petrochemical Alert--

PCA 001560
1560--Latin American PP weekly: Spot stable on waning demand
Houston (Platts)--13Mar2019/532 pm EDT/2132 GMT

- WCSA sees diversity of US-PP grades being offered

- Lower PGP prices boost regional producers

Along West Coast South America, import pricing for homopolymer grade
polypropylene remained stable from March 6 amid healthy
availability, sources said. Demand in March is expected to rebound, though
market participants continued with wait-and-see approach showing a lack of
interest to enter into the market, sources said. Most sttention was focused
on global market fundamentals such as the US-China trade negotiations, oil
prices and Asian demand, sources said. Offers were talked with a premium for
co-polymer over homopolymer at around $30-$60/mt, per market feedback. WCSA
continued watching offers of cargoes on the water for prompt delivery being
further discounted $10-20/mt, per market feedback. Regional producers
continued monitoring feedstock propylene prices in the US, which typically
influence prices throughout South America. A combination of factors such as
weak regional demand, healthy inventories and weaker feedstock propylene
pricing did not support regional producers' attempt to increase prices,
sources said. Some market participants continued talking of US-origin PP
being offered with less availability than previous weeks, sources said.
However, other market participants continued watching diverse grades offered
in WCSA from US. Spot PP pricing in Mercosur held stable this week amid a
lack of incentives for imports, per market feedback. Buyer interest remains
weak amid bearish global sentiment, with Mercosur markets described as
oversupplied, sources said. However, market participants talked about
expectations that market would improve during the second half of March,
sources said. The premium of co-polymer over homopolymer in Mercosur markets
remained at $50/mt, according to market feedback. Market continued talking
of cargoes on the water from Asia and the Middle East being offered at a
steep discount compared to cargoes awaiting loading, sources said. Traders,
on the other side, expressed some concerns that financial risk in Mercosur
markets has increased given the current economic variables affecting trading
activity, per market feedback. Export pricing of Brazilian-origin PP to
other markets was also stable this week, with buyers saying that Braskem
kept prices stable after last week's Carnival celebrations in Brazil led to
widespread industrial shutdowns and reduced trader participation, sources
said. Domestic activity for Brazil was thin on the week, leaving spot levels
flat on the week. Market sources also continued talking of Argentina-origin
PP being offered to other Mercosur markets and also targeting other
destinations such as to WCSA.

RATIONALE:
CFR WCSA: Spot homopolymer-grade PP remained stable week on week,
assessed Wednesday at $1,140-$1,150/mt, while copolymer-grade PP
also stable at $1,200-$1,210/mt. Both assessments were made
based on pricing indications talked at those levels.
CFR Brazil: Spot PP held stable for both homopolymer and copolymer grades,
with the assessments at $1,155-$1,165/mt CFR and $1,205-$1,215/mt CFR,
respectively. The assessments below last known offer levels of $1,240/mt CFR
for homopolymer and $1,290/mt CFR for copolymer to account for current
fundamentals amid a lack of trades or deals.
FOT Brazil: Spot PP pricing held stable for both homopolymer and copolymer
grades, assessed at $1,145-$1,155/mt FOT and $1,215-$1,225/mt FOT,
respectively. The assessments were based on the most recent CPT
Paraguay trading levels talked $120/mt higher, with the difference
accounting for inland freight costs.
*Weekly prices can be found on PCA 283.

--Global Petrochemical Alert--

PCA 000273
273--Platts US HDPE weekly Assessments - 13MAR19
New York (Platts)--13Mar19/0318 pm EDT/ 1918 GMT

Symbol Low-High Midpoint Change

FAS Houston INJ $/mt <PHAHJ00> 915.00-937.00 926.000 11.000

FAS Houston BMLDG $/mt
FAS Houston HMW film $/mt
US Dlvd railcar INJ cts/lb
US Dlvd railcar BMLDG cts/lb
US Dlvd railcar HMW film cts/lb
<PHAHG00> 937.00-959.00 948.000 22.000
<AAHYA00> 981.00-1003.00 992.000 -22.000
<AALBN00> 56.00-57.00 56.500 0.000
<AALBL00> 55.00-56.00 55.500 0.000
<AALBP00> 58.00-59.00 58.500 0.000

US HDPE weekly commentary can be found on <PCA1530>

For questions or additional information about these assessments, please contact

americaspetrochemicals@platts.com
http://www.platts.com/petrochemicals/resources

Begins p273 --Global Petrochemical Alert-- Cont p419

PCA 000689
689--Asian MEG: Remains steady amid limited selling interests
Singapore (Platts)--13Mar2019/619 am EDT/1019 GMT

- Sellers hold back cargoes amid falling MEG prices

- Demand remains weak with 50% polyester sales-ratio

The Asian monoethylene glycol market remained steady day on day amid limited
spot selling interests. MEG sellers held back cargoes without selling due to
weakening MEG prices since end of last week, a market source said. The market
structure of Chinese domestic MEG had turned from a contango for March/April
to flat for April/May, with slightly bearish market sentiment, a market source
said. Demand remained tepid with downstream polyester sales-to-production
ratio hovering at around 50% Wednesday. The most actively traded June MEG
futures contract listed on the Dalian Commodity Exchange was stable early
Wednesday, but softened in the late afternoon, and eventually closed at Yuan
5,241/mt Wednesday, a fall of Yuan 35/mt from Tuesday. Separately, MEGlobal
has nominated its April Asia Contract Price for MEG at $840/mt CFR Asia main
ports, up $10/mt from the March nomination, a company source said. The April
ACP reflects the short-term supply and demand situation in the Asian market,
the source added.

RATIONALE:
CFR China MEG price was assessed at $649/mt on Wednesday, flat from Tuesday,
for 15-30 days forward cargoes, reflecting tradable discussions heard at
$645-$650/mt. China prompt domestic price was assessed flat day on day at Yuan
5,220/mt over the same period, reflecting tradable discussions heard at Yuan
5,210-5,240/mt.

(Daily assessments are found on PCA735, weekly assessments PCA306)

--Global Petrochemical Alert--