Updates on PTBP & Sea freight

Raw Material: PTBP ( Para-tertiary butylphenol ) affecting POLYTONE AP Series (Alkyl Phenolic Resin)

Please find below our views on the current market scenario. In our last Advisory we had informed about the sudden unplanned shut down by the main PTBP manufacturer in India , leading to severe shortage of PTBP in the market.  This caused a lot of supply issues in the local and South East Asian markets, the concern is still not resolved and there is still very limited supplies of PTBP from them.

We had also informed about the sudden increase in material prices of PTBP from South Korea and China and supply constraint.  The Korea plants are booked till End April. 

Along with the operational issues, the overall prices of Phenol have been on an upward trend – hence the prices are set to soar further.

Date    MTBE - FOB Singapore - Mid    Phenol ICIS - India CFR - Mid
23-Feb-24    897    1030.0
16-Feb-24    915    1000.0
9-Feb-24    881    967.5
2-Feb-24    899    967.5
26-Jan-24    899    940.0

In the view of above circumstances, PTBP and the Alkyl Phenolic Range is set to have a very steep price hike

Sea Freights: Effecting all POLYTONE products
Global shipping companies are choosing to circumvent the Suez Canal due to mounting tensions. This has led to a notable surge in shipping rates.  Shortages and high freights are still predominant with no noticeable change as of now.

We thank you for your continuous support in this challenging times & appreciate your understanding and co-operation as usual. 

Thanks and Best Regards,
Polyols & Polymers Pvt Ltd.