Posted by probability > 2019-05-30 13:19 | Report Abuse

hi guys...just want to give my 2 cents..

i did say that there is a reason that the earnings will be bad when i exited above 9 earlier even before the fire breakout..

the earnings reported did reaffirm my opinion

and, now it makes me even more convinced that it will take a long time before it can report reasonable earnings...

Posted by probability > 2019-05-30 13:22 | Report Abuse

Posted by probability > Apr 12, 2019 11:01 AM | Report Abuse X

i have some other reason (so far not disclosed) which i think pchem next earnings will be bad...i would like to verify this by seeing the earnings next qtr before concluding on pchem...

Posted by Outliar > 2019-05-30 14:01 | Report Abuse

Didn’t you add 10k at 8.45?

Posted by newbie8080 > 2019-05-30 14:09 | Report Abuse

@ Huatexpert

Do you know what PCHEM produce?
Do you know what the chemical sold will be used for?

I think you are referring to the trade war US/China impacting PCHEM earnings.

By the way, in the last 30 years, how many trade wars happen?

By next year, Donald Duck will be gone, which is quite certain as we witness the midterm presidential election results.

Long term propects looks not good??????

-----------------------------------------------------------------------------------------

Posted by Huatexpert > May 29, 2019 2:10 PM | Report Abuse

Long term prospect look not good...

http://www.bursamalaysia.com/market/listed-companies/research-reposito...

Posted by titus > 2019-05-30 16:00 | Report Abuse

Pchem produce polyphenylene sulfide??? I don't think so but mayb part of the raw material for polyphenylene sulfide ......

Posted by gsi723 > 2019-05-30 20:07 | Report Abuse

How many expert had said TM will bungkus n close shop.... so, just laugh it off ...

Posted by newbie8080 > 2019-05-31 14:46 | Report Abuse

Chemical produce:

Ammonia
Aromatics
Butanol
Butoxytriglycol
Carbitol
Carbowax
Cellosolve
Cutting Fluids
Dearomatized Solvent
Ethanolamines
Ethylene
Ethylene Glycols
Fuel Additive
Gas Treating Solution
High Density Polyethylene
Linear Low Density Polyethylene
Low Density Polyethylene
Methanol
Propylene
Shale Inhibitor
Tergitol
Urea


Products used in:

Agrochemicals
Coatings
Construction
Home and Office Products
Industrial Solvent
Metal Working Fluid
Oil and Gas
Packaging
Personal Care
Pharmaceutical
Textile
Transportation
All ProductsCurrently selected
Commercial Contact
PIC Products

Posted by James Ng > 2019-05-31 21:15 | Report Abuse

https://klse.i3investor.com/blogs/general/209108.jsp
[转贴] [Facebook live:浅谈Petronas Chemicals group bhd (PChem)] - James的股票投资James Share Investing

Posted by Kayme > 2019-06-03 10:30 | Report Abuse

Europe-Asia ethylene spread hits 6-year high as prices slide in Asia

31 May 2019 | 03:49 UTC Singapore

Author: Fumiko Dobashi & Ora Lazic
Editor: Wendy Wells
Commodity: Petrochemicals

Singapore — The spread between ethylene prices in Europe and Asia widened to a six-year high Thursday as prices in Asia fell sharply amid bearishness downstream, S&P Global Platts data showed.

The spread widened $9/mt day on day to $206/mt Thursday, the highest since September 3, 2013, when it was calculated at $207.50/mt, Platts data showed.

The CFR Northeast Asia marker dived $10/mt day on day to be assessed at $930/mt Thursday, while the CIF Northwest Europe marker edged down $1/mt to $1,136/mt.

Ethylene prices in Asia are under pressure due to a fall in downstream plant operations, notably for polyethylene and monoethylene glycol, that are resulting in a surplus of ethylene in the region.

Market sources said ethylene supply was particularly heavy in Southeast Asia due to a fall in linear low density PE plant operations, while excess spot supply was also seen in Taiwan.

Taiwan's Formosa, which sells ethylene only on an occasional basis when inventory is high, has sold 20,000 mt for June and July loading -- its first sales recorded to date in 2019.

In Thailand, PTT has issued a tender to sell a 3,500-5,000 mt spot ethylene cargo for end June loading, after earlier selling 3,500-5,000 mt via tender for mid-June loading. It typically sells only one cargo each month.

On the demand side, spot buying appetite in China for ethylene was limited due to the US-China trade dispute impacting exports of downstream finished plastics products, prompting traders in Asia to hunt for opportunities to move excess cargoes to Europe.

"Northeast Asia is seen to be well-supplied and supply is likely to increase after Hanwha Total restarts its steam cracker," a market source said. "In that case, where can excess supplies from Southeast Asia go?"

South Korea's Hanwha Total delayed the restart of its naphtha-fed steam cracker in Daesan by around a month to early June due to labor strike after it was shut March 27 for maintenance and debottlenecking that will increase its ethylene capacity to 1.4 million mt/year from 1 million mt/year.

Market sources in Asia said the arbitrage window from Asia to Europe was currently open on paper but logistical constraints were likely to hamper any sales. "It usually takes around two months to move Asia cargoes to Europe; by then ethylene demand in Europe will be gone after turnarounds are completed," one market source said.

Ethylene supply is expected to remain tight in Europe amid major turnarounds into June, but ease later in the month as crackers restart.

The FD Northwest Europe spot price has averaged Eur46.38/mt higher to date in May than in April at Eur1,008.26/mt, Platts data showed.

Traders said buying interest in Europe was currently being covered by imports from the US, Middle East and Latin America, and most buyers were covered for the turnaround period.

In addition, ethylene terminals at NWE coastal ports were heard to have been full since April. "Storage seems to be quiet tight because I feel inventory pressure from customers," a trader in Europe said

Posted by Kayme > 2019-06-04 11:38 | Report Abuse

Asian petrochemicals outlook, w/c June 3

Author Fumiko Dobashi Editor Wendy Wells Commodity Petrochemicals

Singapore — Headwinds loom for Asia's petrochemicals sector this week amid signs that China's economy has started to slow down as trade tensions with the US continue and after its manufacturing Purchasing Managers Index contracted to 49.4 in May.

Market participants this week will also be monitoring the planned restart of Hanwha Total's petrochemical complex in South Korea after a month-long delay due to a labor strike, with its cracker slated to be restarted in early June.

AROMATICS
Asian isomer-grade mixed xylene prices are likely to be caught in a balancing act between crude oil and paraxylene this week, with volatility expected amid anticipation of price swings both up and downstream.

With PX producers potentially cutting operating rates in coming weeks, the MX market could be negatively impacted. Mixed xylene prices fell sharply last Friday to end the week down $25/mt at $692.50/mt FOB Korea, and down $32.50/mt on week at $716/mt CFR Taiwan. PX was assessed down $23.66/mt day on day at $853.67/mt CFR Taiwan/China last Friday.

Asia benzene was assessed down $9/mt on the week and down a sharper $19/mt on the day at $617.33/mt FOB Korea Friday. Demand from the US market was heard weaker, but nonetheless still present, as market participants awaited the settlement of the June benzene contract in the US, a key indicator of US demand for South Korean material going forward.

Asian styrene monomer remained firm at $1,080/mt CFR China and $1,040/mt FOB Korea Friday, up $5.50/mt on the week. Current price levels are expected to be supported temporarily on the back of tighter supply in South Korea in June.

OLEFINS
Asian ethylene traders will likely eye a possible arbitrage opportunity from Asia to Europe this week. This comes after the Europe-Asia ethylene spread jumped to $278.50/mt Friday, the highest since March 26, 2012, when it was $287.50/mt.

Asian ethylene supplies were seen likely remain heavy as downstream plant operations are set to remain low amid negative margins.

The CFR China and CFR Korea propylene markers are poised to receive support this week from the restart of polypropylene plants in China pushing up both the imported and domestic price for propylene. Imported supply is tight in China as Hanwha Total snaps up material in South Korea in readiness to feed its own PP plant.

Asian butadiene closed Friday up $25-$30/mt on week amid supply tightness due to Hanwha Total's ongoing steam cracker shutdown. It is due to restart soon but when its butadiene supply will return to the market remains unclear. Downstream, the emulsion styrene butadiene rubber market fared better, even though margins remain negative at minus $23/mt amid weak demand and rising raw material costs.

Asian monoethylene glycol prices were expected to remain rangebound this week. Supply is seen ample at around 1.338 million mt at the main ports in east China, while demand is waning with polyester producers operating at around 87%. Some MEG producers have trimmed production or started maintenance amid falling prices in South Korea, Japan and Taiwan and Middle East. However in China, MEG was assessed up $7/mt on week at $546/mt CFR China Friday, according to Platts data.

POLYMERS
Asian polyethylene dived to a 10-year low last week dragged down by weak demand and was likely to remain bearish this week amid persisting concerns over US-China trade tensions.

Polypropylene market sentiment was equally bearish, with the impending restart of PP plants in China after turnaround in the near term set to add further supply to the market. PP raffia was assessed at $1,060/mt Friday, unchanged from the day before.

INTERMEDIATES
China's methanol market was expected to be soft this week after the release of a lackluster manufacturing PMI for May and indications that US-China trade tensions have started to weigh on the country's growth. In India, fundamentals look stable to soft, though a major Iranian producer postponing a shipment last week to June 20-30 loading has lent some short-term upside.

The acrylonitrile market is likely to see further price correction this week due to production cuts amid negative margins, and on the back of reports that Ineos' 280,000 mt/year Seal Sands ACN plant in the UK may be resuming production after it shut down earlier in Q1.

Sentiment in the Asian purified terephthalic acid market is likely to remain bearish this week amid lackluster demand. Chinese buyers are likely to continue avoiding dollar-denominated PTA imports as China's domestic PTA is cheaper, sources said. PTA was assessed at $750/mt CFR China Friday, down $20/mt on week, while inventory was forecast to increase 200,000-300,000 mt in the quarter.

Posted by Kayme > 2019-06-04 11:46 | Report Abuse

Asian polyethylene dived to a 10-year low last week dragged down by weak demand and was likely to remain bearish this week amid persisting concerns over US-China trade tensions.

Posted by Fabien Extraordinaire > 2019-06-04 11:54 | Report Abuse

its pointless to position in this stock based on expectations of future petrochemical prices

Posted by Dakewlest > 2019-06-04 21:05 | Report Abuse

Thinking of adding more. Waiting for the right time.

Posted by risktransformer > 2019-06-05 16:04 | Report Abuse

I only hold a little bit of PCHEM.... so I'm not bothered about the price dropping. But for those holding huge position in this stock..... imagine, a few months ago the price was around RM9.30 and now it has dropped to RM8.28; so if they held RM10 million in this stock then they have already lost around RM1 million. Looks like the price may drop further.

Posted by Kayme > 2019-06-07 01:14 | Report Abuse

GPS 2019 preview: Plastics market faces historic challenges, evolves sustainability strategies

The worldwide plastics market is facing “historic challenges” after a record period of growth, with headwinds developing that could substantially impact the market's future, according to Nick Vafiadis, IHS Markit vice president/plastics. “While plastics markets have always been dynamic in nature, we believe the market is currently facing historic challenges as it responds to geo-political developments, shifting supply/demand conditions, and evolving environmental priorities,” he says.

The market is in transition mode, after “a stellar two years relative to demand growth,” Vafiadis says. Legitimate questions have been raised as to whether that momentum and profitability trend can be sustained, with some “significant headwinds developing,” he adds.

Polyethylene (PE) demand has always been closely tied to GDP performance and the plastics industry is currently caught in a worldwide economic slowdown, according to Vafiadis. “We’re beginning to see sustainability-related issues trim demand growth. China is contending with internal and external issues that are affecting demand and profitability, which can have a global ripple effect,” he says. A reduction in China’s PE demand growth is significant because the country accounts for about half the worldwide growth rate, Vafiadis says.

Key areas of focus for IHS Markit include “closely monitoring developments associated with the ongoing trade dispute between the US and China,” says Vafiadis. “The trade war is affecting demand for PE in China and around the world. We believe the tariffs, and the loss of access to the China market for US PE producers, has had—and could continue to have—a significant impact on global PE prices and margins,” he says.

He also describes the sustainability issue as “a rapidly developing story that could have major implications on growth and profitability for plastics-industry participants throughout the value chain for many years to come.”

A new IHS Markit study on the potential impact of sustainability on key commodity resins concludes that sustainability-related market dynamics “could conceivably cut historical growth rates by as much as 50% for polyolefins,” Vafiadis says. Sustainability also represents opportunities for those willing to invest in technology and circular infrastructure, with the industry’s response to the challenge to “affect its social license to operate,” he adds.

IHS Markit experts and industry leaders representing plastics producers, processors, and brand owners will provide the latest perspective on sustainability trends and key industry issues at the Global Plastics Summit, in Houston, Texas, on 4-6 June.

Posted by Kayme > 2019-06-07 01:17 | Report Abuse

Tariffs push new US PE production out of China, into Europe and SE Asia

Whereas total US PE exports surged 2.2 MMt to more than 7.4 MMt in 2018, only about 0.6 MMt of that went to China, and much of that volume required steep discounts.....

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-07 13:19 | Report Abuse

I hold quite a lot of PCHEM, a few months ago the price was at 8.15, the sudden rise in price was very much due to KYY, OTB and other speculators taking a bet on O&G counters and pushing it up to 9.30. However the long term triggers of the business had yet to take effect which is PIC. Therefore: euphoria.

Luckily those who buy PCHEM on fundamentals get to enjoy 18 cents dividends. If one can get to enjoy growing dividends (last year was 32 cents) on a growing business with high revenues and very high net profits year on year, the dividend payments can only go up. With increasing revenues long term the share price is also guaranteed to go up. So in the short term losing RM1 on a paper basis is no cause for worry.

Who buys a house and asks around everyday how much the house is worth, if one day someone offered you 1 million for your only house but must sell today would you do it? Then if tomorrow the same guy offered you 250K for your house would you sell in panic?

Sometimes is worrying how real world activities and stock investment activities can be so different and so far apart.


>>>>
risktransformer I only hold a little bit of PCHEM.... so I'm not bothered about the price dropping. But for those holding huge position in this stock..... imagine, a few months ago the price was around RM9.30 and now it has dropped to RM8.28; so if they held RM10 million in this stock then they have already lost around RM1 million. Looks like the price may drop further.
05/06/2019 4:04 PM

Posted by RainT > 2019-06-07 14:42 | Report Abuse

tomorrow drop back

Posted by RainT > 2019-06-07 14:44 | Report Abuse

har

KYY & OTB also buy PCHEM???

mai la

if they buy , habis ...will lau sai later

Posted by Outliar > 2019-06-07 15:29 | Report Abuse

How do O&G counters affect this company?

Posted by risktransformer > 2019-06-07 16:10 | Report Abuse

Tomorrow holiday (no trading)..... hehehe. Probably Monday may drop a bit due to profit taking.

-----------------------------------------------------------
RainT: tomorrow drop back
07/06/2019 2:42 PM
-----------------------------------------------

Posted by Shinnzaii > 2019-06-07 16:20 | Report Abuse

>Posted by Outliar > Jun 7, 2019 3:29 PM | Report Abuse

How do O&G counters affect this company?

PCHEM products price have high correlation to oil price...oil increased then average products price increased...

Posted by risktransformer > 2019-06-07 16:22 | Report Abuse

Philip, I think it is not proper to compare buying/selling a house with stock. A house is not a liquid asset whereas a stock like PCHEM shares is very liquid.... u can sell it within seconds & buy it back any time with very little transaction cost (unlike a house.... the transaction cost is very high). So the mindset involved dealing with these two assets is very different.

Posted by scn12345678 > 2019-06-09 14:51 | Report Abuse

RM 8.8 ON MON OR TUES

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-09 15:02 | Report Abuse

I think it is exactly because of that mindset of trading that has caused much grief among general investors on this. If you trade a lot the transactional costs can pile up very much higher in a year.

Trust me, you will be very much happier long term if you bought sucks the same way you buy a house, carefully choosing, finding the best location, buy very rarely but but based on the quality of the asset, not the price at which you can get it at.

The real money in stock is made in the waiting, not in the trading.

>>>>>>>>

Posted by risktransformer > Jun 7, 2019 4:22 PM | Report Abuse

Philip, I think it is not proper to compare buying/selling a house with stock. A house is not a liquid asset whereas a stock like PCHEM shares is very liquid.... u can sell it within seconds & buy it back any time with very little transaction cost (unlike a house.... the transaction cost is very high).

Posted by Kayme > 2019-06-10 09:12 | Report Abuse

Petrochemicals 07 Jun 2019 | 21:57 UTC Houston

US May ethylene contract down alongside record-low spot levels

Author Brian Balboa Editor Richard Rubin Commodity Petrochemicals

Houston — The US May ethylene contract price has been confirmed at a decline, trade participants said Friday.

Trade sources said initial May ethylene settlements emerged at 24.25 cents/lb on Wednesday, down 0.75 cent from April. Additional confirmation emerged on Friday, but one contract buyer confirmed it has declined the offer of 24.25 cents/lb. The declines thus far were in line with market expectations as trade sources have cited a continued decline in spot prices, and amply supply ahead of additional ethane cracker startups this year.

The decline in the May ethylene contract comes the same week that ethylene spot prices dropped to an all-time low of 11.75 cents/lb FD USG, according to S&P Global Platts data on Monday. The spot market rebounded on Wednesday to 12.125 cents/lb FD USG, where it remained early Friday.

May ethylene spot levels averaged 12.97 cents/lb FD USG, according to Platts data, which was down from the April ethylene spot average of 13.51 cents/lb FD USG.

Looking ahead, trade participants said they expected another decline for the June ethylene contract.

"Fed stocks are super bearish, and ethylene supply would be flat, so contract will be down again for June, I would guess," said one US olefins trader earlier this week.

Said another US olefins trader: "Continued pressure in anything could mean another 0.75-1.00 cent down."

Posted by risktransformer > 2019-06-10 09:49 | Report Abuse

Philip, investors must not trade & traders must not invest.... they must stick to their own skills in making money based on their own circumstances. There are winners & losers among investors & traders. There are times when investors are better off than traders & there are times when traders are better off than investors.... depending on the market phase.

Posted by Kayme > 2019-06-10 11:59 | Report Abuse

Europe June benzene contract falls $88/metric ton

Decline reflects spot price movements, easing supply in northwest Europe, drop in oil price.

Posted by Kayme > 2019-06-10 12:06 | Report Abuse

LATEST NEWS
Asia BPA prices slump on fragile market climate

07 June 2019 04:07 SINGAPORE (ICIS)--Asia’s bisphenol A (BPA) markets faltered in the wake of dwindling downstream demand, while the US-China trade war could generate further pressure on sentiment in the near term.
Asia EPDM downtrend on eighth month; demand may not pick up soon

07 June 2019 03:48 SINGAPORE (ICIS)--Asia's ethylene-propylene-diene monomer (EPDM) prices have been falling since October 2018 because of a supply glut and slowing demand, which may not pick up in the near future.
INTERACTIVE: Singapore May manufacturing activity deteriorates

06 June 2019 11:56 SINGAPORE (ICIS)--Singapore's factory activity deteriorated in May, with its official purchasing managers’ index (PMI) falling into a contraction mode for the first time 32 months, amid increasing concerns about the escalation of trade tensions between the US and China.
India central bank cuts key lending rate by 25 basis points

06 June 2019 09:47 SINGAPORE (ICIS)--India’s central bank on Thursday cut its key interest rate by 25 basis points to 5.75% with immediate effect to shore up its economy amid a slowdown in investment activity and consumer spending.
Asia ABS retreats on weak demand amid trade war

06 June 2019 08:50 SINGAPORE (ICIS)--The Asia acrylonitrile-butadiene-styrene (ABS) market weakened further as demand in the region is soft and is likely to stay that way in the near term especially as US-China trade war is keeping buyers away.
Asia MEG slumps on heavy overnight losses in upstream crude market

06 June 2019 07:17 SINGAPORE (ICIS)--Asia’s monoethylene glycol (MEG) spot discussions slumped on Thursday, following heavy losses in upstream crude market overnight and amid ongoing concerns over the US-China trade spat.
IMF forecasts China growth to slow to 6.2% in 2019; 6.0% in 2020

05 June 2019 10:06 SINGAPORE (ICIS)--The International Monetary Fund (IMF) said on Wednesday that economic growth in China is expected to moderate to 6.2% in 2019 and 6.0% in 2020, as uncertainty around trade tensions remain high and risks are tilted to the downside.
Asia polyacetal slumps to two-year lows; demand to stay subdued

04 June 2019 08:56 SINGAPORE (ICIS)--Asia’s polyacetal (POM) prices have slumped to their two-year lows after eight consecutive months of downtrend largely due to the US-China trade war, with demand expected to remain subdued.
East Asia 2-EH faces further pressure from weak demand

03 June 2019 10:22 SINGAPORE (ICIS)--East Asia’s 2-ethylhexanol (2-EH) market may come under further pressure in the near term due to weak demand from downstream plasticizers, especially the dioctyl phthalate (DOP) sector in China.
Asia's factory activity in May remains weak as escalating trade war fans worries

03 June 2019 08:47 SINGAPORE (ICIS)--Asia’s manufacturing activity broadly weakened last month with export markets expected to remain weighed down in the near term by the escalating trade war between the US and China.

Posted by Kayme > 2019-06-11 04:35 | Report Abuse

Asia petrochemicals outlook, w/c June 10

OLEFINS
Asian ethylene would likely remain bearish this week after hitting a four-year low last Friday. Selling pressure would likely continue this week amid lower downstream plant operations and negative margins. Despite this, the steam cracker operations in Asia would likely remain high this week due to a healthy ethylene/naphtha spread.

Domestic China propylene price was under pressure with a polypropylene producer lowering operating rate amid falling margins. However, imported material was supported amid tight supply in Northeast Asia due to a delay in Hanwha Total's cracker restart.

The Asian butadiene market closed on a firmer note Friday amid tighter supply, with delivered prices to Northeast Asian markets up $35/mt on week to $1,095/mt Friday, particularly due to short supply in South Korea. This was due to South Korea's LG Chemical shutting its 170,000mt/year butadiene unit Wednesday, as well as its 160,000mt/year styrene butadiene rubber and 180,000mt/year polybutadiene rubber unit in Daesan, leaving only its SSBR and NBR units open. The market is expected to be firm to stable in the days ahead, depending on the cracker situation with South Korean plants.

POLYMERS
Asian linear low density polyethylene was assessed down $20/mt last week at $920/mt CFR Far East Asia Tuesday. Actively-traded September LLDPE futures on the Dalian Commodity Exchange fell Yuan 285/mt over the same period to Yuan 7,630/mt ex-warehouse Tuesday. The outlook was bearish for the third quarter as downstream applications such as cable and infrastructure demand have been weak, although packaging demand has been relatively stable, participants said.

Asian polypropylene prices fell last week amid lackluster demand and ample supply. Market participants adopted a wait-and-see approach amid recent slides in Chinese PP futures, which dampened sentiment. Some traders pointed out that homopolymer PP production was being taken over by the coal and PDH-based producers, while naphtha-based producers were switching production to copolymer based for better netbacks.

INTERMEDIATES
Asian purified terephthalic acid prices tumbled $40/mt week on week to $710/mt CFR China Friday amid weak PTA fundamentals in China, despite a spate of unplanned shutdowns for PTA for this week. There were a total of four unscheduled shutdowns of PTA plants in China last week, resulting in around 40,000 mt PTA production loss, according to sources. Still, the unexpected production loss failed to support Asian PTA prices amid ample supply and tepid demand in China.

Posted by titus > 2019-06-11 08:19 | Report Abuse

Kayme, thanks for sharing. Can you share the link as well. Thanks in advance.
Looking at the above, the coming Q will not be rosy for Pchem.....Also, i was wondering that many countries are banning single-use plastic. Will this impact Pchem further?......

Posted by Kayme > 2019-06-11 10:34 | Report Abuse

https://www.spglobal.com/platts/en/market-insights/latest-news/petrochemicals/061019-asia-petrochemicals-outlook-w-c-june-10

https://www.spglobal.com/platts/en/market-insights/latest-news/petrochemicals/061019-americas-petrochemicals-outlook-w-c-june-10

Posted by Kayme > 2019-06-11 12:15 | Report Abuse

Petrochemicals: Ethylene falls further on slack supply/demand
2019/06/10 07:00

Aromatics

FOB Korea benzene prices and CFR Northeast Asia paraxylene (PX) prices softened in the first half of the week along with a fall in crude prices but after that, the market was firm. Since profitability of aromatics decreased, some makers reduced production of benzene and PX. As a result, perceptions of surplus supply receded and this supported the market.


Olefins

CFR Northeast Asia ethylene prices fell further. Since demand for derivatives was low, demand for ethylene was also subdued. Some petrochemical makers reduced production of derivatives or conducted maintenance of derivative facilities and kept selling ethylene. Under these circumstances, supply/demand was perceived to be slack. A cargo for delivery to China in July was reportedly traded at $810/mt during the week. On the other hand, in Korea, a naphtha cracker was reportedly experiencing troubles. This might affect shipment of spot and term cargoes from the facility but prices had not rebounded. Players only tried to check the situation. Movements had been few since the middle of the week due to holidays in Singapore, Korea, China and Taiwan.


The Asia propylene market fell slightly. In Northeast Asia, with the China domestic market on a downtrend at the beginning of the week, buying interest from end-users for imported cargoes was thin and the market softened. But later in the week, the market rebounded as buying interest from Korea was seen due to reports that operations at naphtha crackers in Korea were unstable. In Southeast Asia, few bids and offers were heard and activity was muted.


The Asia butadiene market declined. In Northeast Asia, deals were done at $1,050/mt for June delivery and at a discount of $15/mt to CFR Northeast Asia quotations for July delivery. Amid uncertain market directions ahead, some players wanted to negotiate based on market quotations. While supply was ample, derivative demand was not strong. As a result, market sentiment was weak.

Posted by titus > 2019-06-11 16:15 | Report Abuse

no wonder Pchem said the next 2Q will be weak. Guess no show until year end. Better still if it plunge more during next QR result. below 7.50 will be a good starting point. Wishful thinking???hehhe

Posted by enigmatic [Breaker of Speculative Investing] > 2019-06-11 18:38 | Report Abuse

@titus,
guess our aim of buying PCHEM at low prices would not be possible anytime soon, support seems strong and the bulls seem to be back in Bursa.

Posted by titus > 2019-06-12 09:14 | Report Abuse

no hurry.....i believed coming quarter earning will be weak as well. In fact, maybe the whole year earning will be soft since PIC only start at the end of the year and earning will only show on Q1'20. So there will be opportunities for price to re-adjusted.

Posted by RainT > 2019-06-12 15:49 | Report Abuse

Wah , great forum sharing here

Thanks all sifu...

Unlike other forum, full with rubbish comment

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-13 15:14 | Report Abuse

Take your time, just buy quarterly and add on the position. PCHEM will be around for the next 10-20 years growing.

Posted by mamatede > 2019-06-13 21:45 | Report Abuse

I collected so much pchem during this trying time. ops

Posted by Alan Wong > 2019-06-14 07:05 | Report Abuse

oil spike up hopefully petchem price will spike up also

Posted by Blaze > 2019-06-14 08:13 | Report Abuse

Today oil counters go to North

Posted by makannasi > 2019-06-17 11:56 | Report Abuse

thank

Posted by makannasi > 2019-06-17 12:04 | Report Abuse

Suitable target price to sell.. any suggestions or predictions??..

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-19 09:04 | Report Abuse

Rather than a suitable price to sell, it's probably better to look at a bit permanent cost increase instead in feed materials, which effects the selling price and margins of PCHEM. If this happens consistently over a long period of time, then I will consider dropping the stock. Consider LCTITAN, , the share price has dropped over half since IPO due to a permanent constraint in supply vs demand and the dwindling profit margins. If PCHEM starts to show similar signs, then it is a suitable target to sell. Although I don't see much signs of it happening within the next 5 years. Their cost of raw materials from aramco and petronas is a huge business advantage over it's competitors.

Posted by Outliar > 2019-06-19 19:10 | Report Abuse

Phillip already having cold feet on PCHEM hahahaha

Posted by Kayme > 2019-06-20 14:49 | Report Abuse

Petrochemicals 17 Jun 2019 | 09:00 UTC Singapore

Asian petrochemicals outlook, w/c Jun 17

The Asian petrochemicals markets face a mixed outlook this week. While some products are expected to remain bearish amid weak demand, styrene monomer and butadiene may see support from tight supplies.

AROMATICS
Demand for Asian benzene is expected to continue West-bound towards the US market, with August DDP USG discussions heard at 232-237 cents/gal, or $693.68-708.63/mt, sufficient to cover spot freight between South Korea and the US Gulf Coast heard at approximately $55/mt. Despite an open arbitrage, actual demand for August material may be limited, with supply tightness for prompt material supporting prices in the forward months, a source said. The domestic East China prices have gained steadily last week, following firm crude price and falling import volumes.

The CFR Taiwan/China benchmark paraxylene marker was down $42/mt to $817.67/mt last Friday, week on week. PX prices had regained some momentum towards the end of May, prompting Asian PX producers to defer any cuts in production rates. There were a few PTA plant turnarounds reported towards the end of the week, including a reduction in operating rates for the Yisheng Dalian facility, however, demand would not be very highly impacted, said market players. Some market players said some July demand may bleed into early August, since it may not be fulfilled on time, but August was not as tight as the previous month and traders felt that there was still some room to buy cargoes.

Demand in the downstream markets remained weak amid a lack of clear price direction as the market moves into the traditionally weak demand in the third quarter.

OLEFINS
Asian ethylene would likely remain bearish this week, after falling to a 10-year low last Friday. The market would likely be pressured by weak demand as well as a falling global ethylene market. Last Friday, the CIF Northwest Europe ethylene price dived $139/mt week on week to $1,059/mt, S&P Global Platts data showed.

The Asian butadiene market closed the week up $45-50/mt Friday amid active spot trading. Platts assessed the CFR China and NEA markers at $1,140/mt and FOB Korea at $1,090/mt. South Korea's Hanwha Total continued to experience technical issues at its Daesan cracker, as it was unable to restart by the end of last week. Should South Korean cracker issues continue, prices may strengthen. Raw material butadiene prices rose, downstream styrene butadiene rubber prices inched up $5/mt to $1,400/mt CFR SEA and $1,350/mt CFR China due to weak demand and ample supply, causing SBR margins to fall further.

INTERMEDIATES
Methanol prices in India and China will likely be bearish as a number of cargoes from Iran are expected to arrive in July. Iranian methanol plants were heard to be running at high operating rates. CFR India was assessed at $260/mt last Wednesday, down $2/mt week on week, while CFR China fell $5/mt to $265/mt Friday.

Asian monoethylene glycol prices will likely remain stable this week amid weak supply-demand fundamentals and support from upstream feedstock. MEG prices were rangebound between $531-534/mt CFR China last week. MEG inventories remained ample with around 1.35 million mt at the main ports of east China, typically enough to meet demand for a month, sources said. Still, there was little room for MEG prices to fall sharply as most Asian MEG producers were incurring losses, sources said. The profit margins were calculated to be minus $12/mt and minus $97/mt for naphtha-based and ethylene-based MEG respectively.

The Asian purified terephthalic acid market lacked direction amid a volatile upstream PX market. Feedstock PX soared $21/mt from June 7 to be assessed at $880.67/mt CFR Taiwan/China last Monday, and subsequently tumbled $63/mt to $817.67/mt CFR Taiwan/China last Friday. Demand was healthy with downstream polyester sector operating at 88% of the overall capacity in China, despite a seasonal lull in June.

The acrylonitrile market is expected to trend lower this week as buyers were waiting for a price correction. Some acrylonitrile-butadiene-styrene producers in Asia have cut operating rates and said the Asian ACN price will need to slip to the low-$1,800s/mt before buyers can make further purchases. Asian ACN was assessed down $40/mt at $1,880/mt CFR Far East Asia last Tuesday.
POLYMERS

Asian polyethylene would likely remain soft this week during a seasonal lull.

Market participants are also closely monitoring the restart of Malaysia's Pengerang Refining and Petrochemical steam cracker. According to sources close to the company, it will restart the unit in July. The cracker supplies ethylene to its downstream PE units.

Asian polypropylene would likely come down this week, after falling $10-$60/mt week on week last week. PP supplies in China were seen to be heavy, which triggered exports from China to Southeast Asia and India.

Posted by Kayme > 2019-06-20 15:08 | Report Abuse

Petrochemicals: Jun 10-14: Ethylene falls further on weak demand
2019/06/17 07:00

Aromatics
FOB Korea benzene prices temporarily decreased along with movements in crude prices but strengthened in the second half of the week. Paraxylene (PX) prices decreased sharply in the middle of the week. A fall in crude prices and PTA futures pressured the PX market. Further, supply was perceived to increase owing to restart of PX facilities in India and Vietnam. This was also cited as a bearish factor.

Olefins
CFR Northeast Asia ethylene prices fell further. On the demand side, profitability of derivatives was improving but demand for derivatives was weak. For this reason, buying interest was not likely to strengthen. On the supply side, some petrochemical makers reduced production of derivatives and sell ethylene. In the middle of the week, July delivery cargoes were traded at $800-810/mt. Some end-users aimed to buy at a bottom price but supply/demand had not tightened and prices seemed not to have bottomed out.

Posted by RainT > 2019-06-25 10:06 | Report Abuse

PCHEM will move more on to specialty chemical

feel it a good move for long term

Posted by Abhi_Kl > 2019-06-25 14:15 | Report Abuse

Asian stocks fell in morning trade on Tuesday, as traders remained cautious ahead of a highly anticipated meeting between U.S. President Donald Trump and Chinese leader Xi Jinping.

For your stocks Technical and fundamental analysis with proper buying level
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Posted by titus > 2019-06-28 13:32 | Report Abuse

i wonder will it ever go down to 7.99.......wait until neck also long already....