Posted by Keyman188 > 2019-08-02 14:30 | Report Abuse

After observing for this whole week global market volatility...

Despite KLCI also unavoidable impact on global market volatility...

My personal point of view, for this round short term period, this counter consider all selling pressure already over....

Now just waiting this month QR result, if within the expectation, very high possibility will rebound back above RM 8.00 soon.....

Even though this few days KLCI heading red sea, but this counter still very very strong sustain this range level......


Cheersss.................

Posted by Keyman188 > 2019-08-02 14:35 | Report Abuse

Still strong support the range 7.40....

Posted by Keyman188 > 2019-08-02 14:42 | Report Abuse

Time for slowly slowly collecting heavy weight bluechip....

Posted by i3lurker > 2019-08-02 14:42 | Report Abuse

just buy
so many things plastic
we will use back plastic straws
use plastic bags
use plastic shoes
use plastic money
use plastic coins like casinos
plastic houses
plastic cars

we must all use single use plastics, use and throw away

shut down all those plastic recycling plants ... in progress now...

just buy the shares...
after that just force government to use everything plastic

Posted by Keyman188 > 2019-08-02 14:46 | Report Abuse

I can't expect LCTitan latest Q2 result better than Q1....

My personally point of view, this local Taikor (tight with Petronas) Q2 result shall be better than Q1.....

Posted by Keyman188 > 2019-08-02 15:15 | Report Abuse

Sometime big players can last min eat back to neutral since already ding dong ding dong this level for whole day.....................

Posted by mobidick > 2019-08-02 15:26 | Report Abuse

Big investor have information retailers dont have, but from 2018 presentation we saw that management expecting more growth in this qtr or at least tally up. Even with the plant shutdown, they would have build up inventory to anticipate the demands. It will not hurt the bottomline at least not drastically. What will hurt is the china goods tariff, which will affect market orders of chemical.

Posted by Keyman188 > 2019-08-02 16:00 | Report Abuse

Steady boombeebee...

Ding dong range 7.44 ~ 7.45...........

Posted by kingb > 2019-08-02 16:14 | Report Abuse

See. Still ding dong ding dong. QR is approaching as well. We shall see.

Posted by Ncm88 > 2019-08-03 08:25 | Report Abuse

Keyman kee but 1 lot for every drop.... QR definitely wont look good, unless dispose asset lol

Posted by Kayme > 2019-08-03 16:33 | Report Abuse

Petrochemicals 02 Aug 2019 | 20:51 UTC Houston

New $300 billion in US tariffs on China products would impact many chemicals, plastics

Commodity: Petrochemicals
Topic: The Trump Administration, US-China Trade Tension

Houston — President Donald Trump's latest escalation in the US-China trade war targets 10% tariffs on all Chinese imports that do not yet face such taxes, including a wide array of petrochemical-reliant finished plastics and products.

Among the $300 billion in targeted Chinese products are smartphones, laptops, toys, toilet seats, mustard and ketchup dispensers, plastic dishes and trays, picture frames, statuettes, beads and a catch-all category of "other articles of plastics," according to the proposed list on the Office of the United States Trade Representative's website.

Other produces include items made with vulcanized rubber, which has been treated to be flexible and resistant to heat, such as conveyor belts and hoses, medical gloves and pet toys.

Other petrochemical-heavy products on the list include polyester yarns and fabrics, travel hygiene sets, crayons, combs and hair pins, dental floss, fireworks, de-icing fluids, wallpaper and shoes with rubber soles.

On Friday, a day after Trump tweeted his intent to impose the new tariffs on September 1 as recent talks with China failed to produce a trade deal, Hua Chunying, spokeswoman for China's foreign ministry, said China would "take necessary countermeasures" to protect its interests.

"China believes there is no winner in a trade war. We do not want a trade war, but we are not afraid of fighting one," she said in comments posted on the ministry's website Friday. "China does not accept any maximum pressure, threat or blackmail."

The trade war already has affected the US petrochemical industry. Last year the US imposed tariffs on $250 billion in Chinese products, and China responded with $110 billion in tariffs on US goods. In the petrochemical sphere, US tariffs have targeted both raw materials and products made with them, while Chinese tariffs targeted hundreds of raw materials used to make plastics, rubber and other materials.

The American Chemistry Council has strongly opposed tariffs, saying the trade war could jeopardize the US' growing status as a global supplier with more than $200 billion in new chemical infrastructure that aims to export most output to Asia, with China easily the most dominant demand market.

As was the case ahead of the third round of tariffs the US imposed on Chinese products last year, the US likely will see a surge of imports at the peak of shipping season as companies seek to pre-empt the additional costs, according to supply chain research firm Panjiva Research. Peak shipping for toys and videogames is in October for Christmas shopping season, while peak shipping for laptops hits twice: August for back-to-school sales, and November depending on model release schedules, Panjiva said.

Panjiva, like S&P Global Platts, is a division of S&P Global.

In June, the USTR received more than 2,800 public comments from companies, organizations and citizens on the $300 billion in products targeted for new tariffs.

Bert Eshaghpour, president of Wego Chemical Group, a family business that imports specialty chemicals from China for domestic distribution, said in June that previous petrochemical tariffs have already impacted costs and supply chains in the US. More chemicals on the proposed $300 billion list are manufactured only in China, he said. Those include chemicals used in automotive, food, paper and construction industries.

"There are no other choices or alternatives," Eshaghpour said in a letter to the US Trade Representative Robert Lighthizer.

In another such letter to Lighthizer, Stanley Bernard, vice president of growth and development at Drexel Chemical Company, a Tennessee pesticide manufacturer, said US agriculture's four most widely used pesticide ingredients are on the proposed $300 billion list and are not made in the US.

"Drexel and the small farmers who use our generic crop protection products cannot withstand the addition" of tariffs "on our most important products - products for which we have no domestic supply," Bernard wrote.

Posted by Ncm88 > 2019-08-03 17:20 | Report Abuse

Kayme did a very good job in updating petrochemical news . Thanks

Posted by Becky123 > 2019-08-05 05:53 | Report Abuse

If it’s about trump tariff, then we should be worried more on other stocks like tech & manufacturing exporters like inari, d&o, vs industry. These stocks shd be more vulnerable.

Kayme. Waste of time to focus on Pchem risk.

Posted by Becky123 > 2019-08-05 06:18 | Report Abuse

If trump set tariff on China,

Demand for oil and gas will be affected, sell velesto, sapura, deleum.

Demand for rubber will be affected, sell harta topglove kossan

Demand for tech and exporters will be affected.

Everything. So sell everything. Haha

Posted by risktransformer > 2019-08-05 15:55 | Report Abuse

Wah! RM7.26 now!! Really going to drop to RM7.20 either today or tomorrow.

Posted by titus > 2019-08-05 16:06 | Report Abuse

Yum yum....waiting for 6.99...

Posted by lazycat > 2019-08-05 16:22 | Report Abuse

wa.. holland liao , lucky i run fast

Posted by freddiehero > 2019-08-05 16:24 | Report Abuse

how bout 5.0

Posted by 7300 > 2019-08-05 16:26 | Report Abuse

like that lctitan misti pigi London bridge!

Posted by mamatede > 2019-08-05 16:29 | Report Abuse

Jia lat oh , RM7 soon.. .

Posted by lazycat > 2019-08-05 16:30 | Report Abuse

buy topglove harta kossan better , ringgit weaken means more $$

Posted by ValarCuniasia > 2019-08-05 19:19 | Report Abuse

Hahahaha

Posted by Icon8888 > 2019-08-05 19:26 | Report Abuse

Long winding road ahead

Posted by Trouble Huat > 2019-08-05 21:48 | Report Abuse

oversold till cnt oversold. haha

Posted by Ncm88 > 2019-08-05 23:16 | Report Abuse

Ahhahah classic rebound 1 day drop 7 days ahahhahahahahha

Posted by enigmatic [Breaker of Speculative Investing] > 2019-08-06 01:34 | Report Abuse

Dow is now down 700pts. Would PCHEM fall to RM7.00? Philip must be gobbling down the shares like a hungry wolf this week.

Posted by titus > 2019-08-06 08:57 | Report Abuse

haven break 6.99....mana consider oversold oh.......coming QR will not look rosy and the next 1 will be worst. But i will buy another round if it break 7 la. Already bought 2/5 of my allocation. If break 7, buy 1 more portion, break 6.50, i more slice. Break 6.....final slice of the pie. If it goes down to rm5. then sell hse, the car and buy le....hehe.......kiddin la.......hmm....will it ever come to Rm5? dreaming

Posted by RainT > 2019-08-06 09:15 | Report Abuse

good strategy

buy in batches

don't all in

Posted by titus > 2019-08-06 09:41 | Report Abuse

Ya, this sweetheart s flying down from holland to meet me....soon. wondering after meet up, will she bring me back to holland....lol....only time will tell.

Posted by (S=QR) Philip > 2019-08-06 10:58 | Report Abuse

Market is always acting volatile. The same people that value npchem at v70 billion a few months back, now suddenly value pchem at 50 billion. Results are not even out yet.

Posted by titus > 2019-08-06 11:27 | Report Abuse

Aiyo...what happen??.....my sweetheart from holland took a detour??.....
Must be because of Philip.....loading up again???....

Posted by mobidick > 2019-08-06 11:46 | Report Abuse

Ppl been saying to get in this bluechip for awhile now, from peak 10 in 2018, they say 9.5 cheap, good to buy in batches, then 9.0, they say buy now its cheaper, then 8.5 they say start to buy now its even cheaper, then 8.0 they say very nice can buy so much cheaper, then 7.5..

I think anyone who read will understand where this is going.. Most analyst and IB's is predicting lower earnings for the next qtr announcement, couple with the rapid plant shut down due to fire. Understand also that most chemical companies do not stockpile inventory for chemicals, it is hazardous. Look at Lctitan PP and PE capacity, once petchem pengerang facility go online 4qtr, they will be producing excess supply in local market, which will no doubt trigger volume price competition between both of them. Further depress the earnings. With US adding additional tariffs, more goods which uses PE will have their demands reduce.

This counter would only be suitable IF the dividend return can outpace the capital loss, im talking multi-year holding of this counter, which is very unlikely for most retail investor.

Posted by popo92 > 2019-08-06 12:09 | Report Abuse

25% of my portfolio now. I am looking forward to add more at lower prices after qr out.

Posted by pakabu > 2019-08-06 12:20 | Report Abuse

various product of Petronas Chemicals :

http://www.petronaschemicals.com.my/Products/Pages/AllProducts.aspx

Posted by mamatede > 2019-08-06 16:05 | Report Abuse

i stand contra and stay together with pchem. buy bit and bit everytime. The moment pchem go holland, malaysia will also holland.

Posted by RainT > 2019-08-06 16:30 | Report Abuse

can see have some people come out to support PCHEM share price

Posted by RainT > 2019-08-06 16:30 | Report Abuse

@mamatede

well said.....PCHEM go Holland, Msia will also go Holland , lol

Posted by RainT > 2019-08-06 16:31 | Report Abuse

I want to add

wait quarter result out, let it slide down more

Posted by mobidick > 2019-08-06 17:22 | Report Abuse

I remember years ago, ppl say if MAS holland malaysia holland, now mas getting sold by mahathir, he dont even care for it anymore. Also proton, proton holland, malaysia holland, but it got sold to china geely. Besides petronas got more company now, petgas, petdag and klcc many more. Dont get trapped by one counter, watch quarter first.

Posted by Ncm88 > 2019-08-06 17:23 | Report Abuse

Definitely buy in batches lo.. all in kena burn lo.

Posted by enigmatic [Breaker of Speculative Investing] > 2019-08-06 22:03 | Report Abuse

contemplating to buy at this attractive price. however, should wait until QR is out before making up my mind.

Posted by Kayme > 2019-08-07 01:53 | Report Abuse

Petrochemicals 05 Aug 2019 | 09:00 UTC Singapore

Asia petrochemicals outlook, w/c August 5

The Asian petrochemical markets this week will continue to be pressured by the US president's announcement to impose 10% tariff on another $300 billion worth of Chinese goods, effective September 1.

The depreciation of the Chinese yuan against the US dollar, both offshore and on shore, which tracked the escalation in US-China trade tensions, may further impact petrochemical products and weaken buyers' interest for imported materials.

AROMATICS
Sentiment in the Asian paraxylene market may turn bearish this week after the US announced it will impose tariffs on additional Chinese goods. Traders said there would be little support for PX prices downstream after last week's August PX Asian contract price negotiations failed to result in a settlement. The PX/MX spread would likely continue to narrow this week as the recent strength in Northeast Asian gasoline was curtailing MX spot supply. Domestic MX prices in China were heard to be firming up due to demand from PX producers or gasoline blenders.

Asian benzene is likely to firm this week, with the South Korean market likely to be tight in September as a major South Korean producer is scheduled to undergo maintenance, where a loss of around 58,000 mt of benzene is expected. Nevertheless, little change is expected for FOB Korea demand due to the open South Korea-US arbitrage window. Recent plant troubles and delayed shipments in Southeast Asia may keep supplies in the region tight in September. On the demand front, end-users will likely be more keen on buying fixed-price cargoes, while traders eye the falling east China inventories as an opportunity to work the import-domestic arbitrage.

Asian styrene monomer would likely remain bearish this week, pressured by weak demand from downstream markets after the additional tariff announcement. Market sources noted the weakening yuan would likely hamper demand for imported materials.

OLEFINS
The Asian ethylene market is expected to be stable to firm this week as China was reported to be in need of some spot requirement due to the shutdown of a methanol-to-olefins unit for 15 days from the end of July in Jiangsu, China which produces 360,000 mt/year of ethylene. Ethylene supplies from Southeast Asia are also seen to be limited due to steam cracker turnaround season.

The Shandong propylene market is expected to strengthen from a week ago after major producer, Tianjin Bohai Chemical, lowered the operating rate of its PDH plant to 50%-60% since July 30 due to a technical glitch, and will only be fully operational by August 10. The strength in China's domestic propylene price is also lending support to the import market, and South Korean sellers are not willing to depart with their cargoes unless there is at least a $60/mt spread between the CFR China and FOB Korean market.

INTERMEDIATES
Chinese methanol prices are expected to be under pressure this week as China's offshore yuan weakened to slightly over $7 in early Monday trade. Tank top issues and an influx of South American, Trinidad & Tobago and Southeast Asian cargoes will likely compound length in the market. Elsewhere, fundamentals in South Korea and Taiwan are likely to remain bearish until mid-September as traders and end-users grapple with high inventory levels and lackluster demand.

Market sentiment along the whole polyester chain is likely to be bearish this week, amid the escalation of the US-China trade tensions. The $300 billion worth of Chinese goods will include all Chinese textile and apparels exported to the US that have not been imposed a tariff. Asian purified terephthalic acid prices tumbled $10/mt week on week last Friday, while monoethylene glycol prices fell $7/mt CFR China over the same period. In plant news, both China's Tongkun Group Co. Ltd and Ningbo Liwan shut PTA lines with capacities of 1.5 million mt/year and 720,000 mt/year, respectively, end-July, Platts reported previously.

POLYMERS
The global outlook for the polyethylene market is bearish for the remainder of the year due to a combination of weak feedstock costs, weak global demand and anticipated plant start ups, according to market participants. An estimated 4 million-5 million mt of new polyethylene supply is expected to come on line by end December, with 2.9 million mt of it in the US and the rest in Asia.

Posted by Kayme > 2019-08-07 01:54 | Report Abuse

Petrochemicals 06 Aug 2019 | 04:20 UTC Singapore

Asian MEG falls to 10-year low on escalating US-China trade tension

Commodity: Petrochemicals
Topic: US-China Trade Tension

Singapore — The CFR China marker for monoethylene glycol continued its downtrend, falling to a 10-year low at $512/mt Monday as the US-China trade dispute escalated further, according to S&P Global Platts data.

Asian MEG prices were last lower at $505/mt CFR China on April 1, 2009, Platts data showed.

Asian monoethylene glycol price falls to 10-year low

US President Donald Trump announced last Thursday that the US will impose 10% tariffs on additional $300 billion Chinese goods from September 1. This includes all Chinese textile and apparels exported to US that are not subject to tariffs yet, sources said.

Prior to the US latest tariffs imposition, the Asian MEG prices had been rangebound and averaged $537/mt CFR China since mid-May due to a lack of market direction.

Trade participants were concerned the prevailing weak demand will further worsen along the whole polyester chain. Consequently, prices of MEG and purified terephthalic acid tumbled $33/mt and $20/mt from last Thursday to $512/mt CFR China and $690/mt CFR China respectively, Platts data showed.

In addition, Chinese yuan has depreciated sharply post-US tariffs announcement, with the US dollar/China yuan rate hitting year-to-date high of 6.9225 Monday and more than a decade high of 6.9683 Tuesday.

The weaker yuan further weighed on dollar-denominated MEG imports prices, forcing the CFR China marker to fall faster than China's domestic prompt MEG prices, a source said.


Olefinscan
With the global olefins market changing, having access to information on the key drivers behind feedstock and derivative price trends is crucial.

China domestic prompt MEG prices was assessed at Yuan 4,275/mt Monday (around $506/mt import parity value), down Yuan 200/mt from last Thursday.

Meanwhile, MEG fundamentals have been firmer with inventories continuously falling from their record-high of 1.4 million mt in mid-April, to around 1 million mt last week at the main ports of China's east, Platts reported earlier. This was still higher than the averaged 700,000 mt typical stock level in the previous year.

Nevertheless, with more Asian MEG plants set to resume operations after turnarounds and plans to ramp up production in the third quarter, most market participants doubted China MEG stocks would continue to decline, especially in the face of weaker demand prospects.

The overall rate of downstream Chinese polyester operation has dropped to around 85% since end-July, down from the rate of 90% and above over H2 June-early July, reflecting weak demand, according to market sources.

Posted by risktransformer > 2019-08-07 09:30 | Report Abuse

I think it may just languish around RM7.20 +/- until the QR out, after that it may drop further (if according to what is expected.... unless there is a good surprise).

Posted by titus > 2019-08-07 12:09 | Report Abuse

All the peers (Local & regional) are showing a lesser profit. Will Pchem shows otherwise? I think I will stick to what is know out there. If pchem report a good quarter, well....it is a good miss. I dun think i'm willing to bet and swim against the tide. Can always come back another month to swim rather than swim now but with a high chance of drowning.

Posted by Ncm88 > 2019-08-07 12:12 | Report Abuse

Say liao up 1 day, drop 7 days !

Posted by titus > 2019-08-07 12:27 | Report Abuse

Ncm.....the up 1 day and drop 7 days ends up in same position only....really ding dong ding dong.........if up 10c for 1 day and drop 70c for 7 days....then okla......will be around 6.50 a'dy.

Posted by enigmatic [Breaker of Speculative Investing] > 2019-08-07 21:05 | Report Abuse

The question is... Whether 3mths ago I would have bought at this price? What has changed?

Posted by risktransformer > 2019-08-08 09:13 | Report Abuse

@enigmatic, 3 months ago the US-China Trade War was not that intense & the KLCI rebounded from a 12.5% correction.... so, many people were willing to buy PCHEM to ride the rebound (PCHEM also rebounded with EPF continuous buying then).

The current situation is very different. The US-China Trade War has escalated into Currency War. The KLCI has fallen back to a 12.16% correction looking likely to fall further in the next 3 months (turning into a bear market). PCHEM has fallen to EPF's TP of RM7.20 and with so many bad news about the petrochemical industry, it looks likely to fall below RM7.00 especially when the QR (coming out soon this month) show a dramatic drop in profit.

But if u haven't bought any PCHEM shares b4, it is worth gambling a bit by buying a small quantity of PCHEM shares now and buy more (or sell off) later after the QR is out.

Posted by titus > 2019-08-08 09:35 | Report Abuse

3 months ago, the peers' haven report earning. Now one by one earning announce can see most of them have shrinked their profit. Also, market demand is more than supply and more supply coming online in the oversupply environment. All technical indicator showing sell. Hopefully, the 2Q will report a decent earning but 3Q is expected to be worse than 2Q......