Updated to mid-November 2009
Asian market review by Liu Xin, ICIS pricing
Asian polycarbonate prices remained on an uptrend from mid-August till mid-November, driven by firm feedstock bisphenol A (BPA) values and tight supply due to plant shutdowns and production cuts.
Optical grade polycarbonate prices were assessed at $2,050-2,250/tonne CIF (cost, insurance and freight) Hong Kong and Taiwan, up 9-12.5% from mid-August levels. General purpose (GP) moulding polycarbonate prices, however, witnessed a 9.3-11.4% increase from mid-August to $2,350-2,450/tonne CIF Hong Kong in mid-November.
Producers said they were mulling further price hikes in December in light of low inventory levels due to recent and ongoing turnarounds and firm feedstock numbers. Buyers were largely sidelined as they were unable to pass on the relentless rise in feedstock costs due to sluggish derivative demand in the global economic downturn.
European market review by Peter Gerrard, ICIS pricing
In mid-August, some players in the European polycarbonate market said that prices needed to rise in order to give producers positive margins. Producers spoke of an increase of at least €0.20/kg.
By early September, leading producers reaffirmed these targets. Buyers agreed that producers were becoming more aggressive in pushing for higher prices.
Sources reported an improvement in demand for various applications. Some sellers asserted that September seemed to be a very good month, with sales above September 2008 for moulding grade. However, by the end of the month, uncertainty emerged over the probability of sizeable price hikes.
By late October, fourth quarter prices were confirmed as a rollover from their third quarter levels on average. Some slight increases were reported but there were no reductions and the price level was said to be broadly unchanged.
The sell and buy sides of the market agreed that it remained relatively long, and this had effectively inhibited earlier producer resolve to push up prices. However, players said that demand so far in Q4 had been quite good, and had registered an improvement on the preceding months.
US market review by Ben Lefebvre, ICIS pricing
US polycarbonate prices were assessed at $1.25-1.35 cents/lb bulk DEL (delivered) for both GP moulding and extrusion material on 30 October.
Polycarbonate demand was lacklustre during the three-month period ending 30 October. Supply continued to be long, with little relief seen from a government subsidy on auto trade ins - the programme mostly helped automakers clear inventory without having to manufacture many new cars.
A fire and explosion occurred toward the end of the period at SABIC Innovative Plastics’ Mount Vernon, Indiana, phenol plant where it also manufactures polycarbonate. At press time, the plant was expected to be out of operation until mid-December.
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Polycarbonate
Uses and Outlook
Polycarbonate resins are tough thermoplastics with major markets in the electrical/electronic sectors such as computer and business equipment and optical discs, glazing and sheet products and in the automotive industry. Other uses include safety helmets and shields, housing components, household appliances, sporting goods, and aircraft and missile components.
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Polycarbonate
Process Technologies
The first aromatic polycarbonates were prepared in the late 1890s by reacting hydroquinone or resorcinol with phosgene in pyridine but the crystalline polymers produced were brittle and difficult to process. In 1941, PPG introduced a crosslinked resin prepared by a peroxide initiated radical polymerisation of the bisallyl carbonate of diethylene glycol. The colourless, transparent plastic was the first commercially available polycarbonate.
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