olefins & polyolefins / naphtha spread up avg 6 % yesterday.

BTS, https://www.krungsrisecurities.com/research/1/1

Daily naphtha spread info.
https://www.krungsrisecurities.com/research/1/1

luckily PE naphtha spread went up and cover PP naphtha spread for the moment.

Happy to see the volume is back. :)

yeah, faster sell then.

https://wap.eastmoney.com/quota/hq/stock?id=ppm&mk=114

https://tradingeconomics.com/commodity/naphtha

https://youtu.be/mhl1dDToaA8

Touched MA200 and rebound. They know how to draw chart. LoL

today flushed out a lot of players.

Naphtha price still low & bottom if compare to year 2016.

US FDA to temporarily allow benzene, acetaldehyde in hand sanitizer

up too fast..drop is normal :)

** Positive petrochemical margins kept naphtha-fed steam crackers operating at high levels, with the spread between CFR Northeast Asia ethylene and CFR Japan naphtha physical at $385.125/mt at Friday's Asian close, up by $75/mt on the day, and above the typical breakeven spread of $300/mt, Platts data showed. The spread between FOB Korea propylene and naphtha C+F Japan cargo assessments rose to $460.125/mt at Friday's Asian close, up $30/mt on the day, Platts data showed.

http://www.petrotahlil.com/Section-news-2/44538-asia-light-ends-key-market-indicators-this-week

China PP futures heading RMB8000 wile naphtha price remain low.

https://polymerupdate.com/news/Home/30May2020/1061769/ethylene-prices-bolster-higher-in-asia

LCTITAN - butadiene to produce synthetic rubber for nitrile glove?

If naphtha price forever below USD300, RM10 is possible. :)

China PP futures is in on uptrend mode and naphtha price is super low now.

broke MA200. Going higher and higher!!

sot jor.

Haha...finally RM2.00

RM2.00 ?

terrorsin, good luck hunting. I need to sleep well at night. Haha.

seems most ppl sold lctitan. :)

RM2.00

http://www.businesskorea.co.kr/news/articleView.html?idxno=46338

jinghee, read all the comments from Lctitan post. don't be spoon feed baby.

http://www.bjnews.com.cn/finance/2020/05/20/729494.html

炒完口罩炒头盔，聚丙烯再迎上涨行情？ 文章来自[塑米城] https://www.sumibuy.com/subject/detail/21548.html

China's 250 million scooters riders required to wear helmets. Helmets material - polypropylene. China polypropylene future soaring high again!!!!

possible hit RM2.00 tomorrow.

tomorrow big chance push high again!!

so good, lctitan provides opportunity to buy again. :)

So Notion will get PP from Lctitan to produce face mask?

https://m.facebook.com/cnn/videos/1455110754668594/
PP syringes shortage.

Next QR good, QR3 excellent!

https://in.investing.com/news/asia-naphthagasolinenaphtha-crack-surges-nearly-1000-formosa-buys-2259352

http://www.businesskorea.co.kr/news/articleView.html?idxno=45568

The author is an analyst of Shinhan Investment Corp. He can be reached at jinmyung.lee93@shinhan.com. -- Ed.

1Q20 operating loss of KRW86bn (negative swing QoQ) far short of consensus

Lotte Chemical posted an operating loss of KRW86bn (negative swing QoQ) for 1Q20, far steeper than the consensus estimate of KRW41.2bn. All negatives were reflected in earnings, including inventory valuation losses (KRW61.5bn), regular maintenance-related losses (KRW13bn), and negative lagging effect (KRW173.6bn). By division, operating loss from olefins stood at KRW11.7bn (negative swing YoY), aromatics KRW40.7bn (RR QoQ), and Lotte Chemical Titan KRW69.5bn (RR QoQ). The advanced materials division recorded an operating profit of KRW41bn (+13% QoQ) and Lotte Chemical USA KRW13.9bn (-57% QoQ). Losses from olefins, aromatics and Lotte Chemical Titan were attributable to an explosion at Lotte Chemical’s Daesan NCC, input of high-cost naphtha, and weak demand. With the COVID-19 pandemic in full force from March, the advanced materials division was able to deliver relatively decent earnings. Lotte Chemical USA’s earnings were weighed down by one-off costs and MEG price declines.

2Q20 operating profit of KRW101bn (positive swing QoQ) on cost reduction

Lotte Chemical should be able to swing to an operating profit of KRW101bn (+KRW187bn QoQ) in 2Q thanks to the input of low-cost naphtha and removal of one-off costs. Naphtha prices are expected to decline 48% QoQ. PE and PP spreads are estimated to rise 10% and 14% QoQ, respectively. Operating profit from olefin operations will likely amount to KRW94.9bn (positive swing, +KRW106.6bn QoQ) and Lotte Chemical Titan KRW15.1bn (positive swing, +KRW84.6bn QoQ). Advanced materials operating profit is projected to reach KRW20.3bn (-51% QoQ) with major clients in the US and Europe hit by the COVID-19 pandemic. Lotte Chemical USA is forecast to post operating profit margin of 9.9% (-2.8%p QoQ) on rising ethane prices (C) and falling MEG prices (P).

Retain BUY and raise target price by 9% to KRW230,000

We raise our target price for Lotte Chemical to KRW230,000 based on the upward revision of our earnings forecasts. Earnings are expected to grow markedly in 2Q due to low oil prices. But a meaningful improvement in chemical market conditions is unlikely as the boost from low oil prices should be short-lived and global oversupply persists. Nevertheless, we find shares attractive at current price levels (PBR of 0.5x based on 2020F BPS), considering stronger profit fundamentals compared to past down-cycles and net cash holdings.

thanks for sharing, simonalibaba!

market is crazy!!

goreng 1 by 1

no news is good news.

any retrace is a buy back opportunity.

If the covid-19 vaccine ready, how many PP syringes needed? Whole world population about 8 billion.

Good close. See you next week! Welcome alibaba.

but u lost brokerage fees. LoL

Yes

buy today no dividend.