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The higher spot price after the explosion at Shanghai Huayi (in June 2013) does not seem to have benefitted Sunvic -- its AA/AE ASP in 2013 was the lowest for the 4-year period between 2010 and 2013:
..........Sales vol (tonnes)....Rev (RMB m)...ASP (RMB)..Profit (RMB m)
2013...........512,200...............5,486...........10,710........370
2012...........347,700...............3,940...........11,330..........97
2011...........216,000...............3,360...........15,560........504
2010...........228,500...............3,268...........14,300........650
2009...........174,600...............1,466.............8,400...........4
Could the higher 2013 profit be due to lower raw material (proplyene) price, higher AA/Ae price in 4Q 2013 after the explosion? Or was Sunvic constrained by supply agreements with downstream companies in adopting the higher spot price?
..........Sales vol (tonnes)....Rev (RMB m)...ASP (RMB)..Profit (RMB m)
2013...........512,200...............5,486...........10,710........370
2012...........347,700...............3,940...........11,330..........97
2011...........216,000...............3,360...........15,560........504
2010...........228,500...............3,268...........14,300........650
2009...........174,600...............1,466.............8,400...........4
Could the higher 2013 profit be due to lower raw material (proplyene) price, higher AA/Ae price in 4Q 2013 after the explosion? Or was Sunvic constrained by supply agreements with downstream companies in adopting the higher spot price?