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Welcome to Chemical Update

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Latest News

Shandong propylene down Y...

- Shandong propylene down Yuan100-150/mt- Unv1's LCY Chemical Corp will close PP plant H2 Aug in order to make more efficient After a drop in crude oil prices, the Asian propylene market was stable on Aug. 5, as buyers held back. October ICE Brent crude oil futures fell $2.36-3.50/b to $94.47-101.50/b, after the Asian close at 0830 GMT on Aug. 5. Propylene prices in the...

DCE futures fall Yuan 73-...

- DCE futures fall Yuan 73-78/mt- Brent falls to $2.65-3.50/b Sources said that Asian mono ethylene glycol prices fell on Aug. 4, owing to weak demand. On September 20,22 MEG futures, active traders traded on the Dalian Commodity Exchange dropped Yuan 73-78/mt to settle at Yuan 4,186-4,500/mt ex -tank. October ICE Brent crude oil futures dropped $2.65-3.50/b from their pr...

Lower crude oil and weake...

- Lower crude oil and weakening naphtha markets affect selling sentiment- Concerns expressed by buyers about the possibility of a fall in derivative prices The week ended Aug. 5, and the mood in Asian Ethylene markets was bearish due to pressure from the weak crude oil, naphtha, and steam cracker sectors. The month on -month drop in operating rates for Asian naphtha -fed...

Supply tightness continue...

- Supply tightness continues- October IICE Brent Crude Down $2.36-3.50/b On Day Due to lower crude oil prices, Asia toluene's assessment was lower on Aug. 5. Asian toluene was valued at $33-37/mt less day-on-day at $909-920/mt FOB Korea, and at $964-980/mt CFR China Aug. 5, down $15-20/mt. Sources maintained that the market is quiet, with very little demand and limited supply.&...

Larger FOB SEA/Korea loca...

- Larger FOB SEA/Korea locations spread on higher freight- Sinopec reduces the listing price for the third week Asian benzene prices fell by $26-32/mt, to $967-990/mt FOB Korea marker Aug. 5. Spot market prices are trending down in response to weaker upstream prices. A benzene FOB Korean offer was made at $970-990/mt, against a $951-970/mt bid for September loading cargoes clo...

MX premiums slide | Acti...

- MX premiums slide- Activity restricted across the entire chain European mixed xylenes saw another slow week from Aug. 5 to Aug. 5, amid the summer holiday season. Sellers and buyers had different pricing ideas. It is difficult to make deals in such a market, according to a trader. While demand was slow, availability started to improve. Another trader stated that the mark...

Limited demand outlets |...

- Limited demand outlets- Closed Export Opportunities Due to holiday demand and low toluene prices, European toluene premiums were lower than gasoline in the week prior to Aug. 5. On Aug. 5, toluene premiums were $255-280/mt, which was stable over the day but down $10.25-15.50/mt for the week. A trader stated that the market is weak at the moment and added that there was m...

FOB US Gulf Coast, MTBE p...

- FOB US Gulf Coast, MTBE price up 6.21 Cents/gal- RBOB gasoline backwardation widened The prices in the US MTBE markets rose slightly at the end of August 5th, although there were no discussions about the blendstock. FOB US Gulf Coast MTBE physical Rest at 354.51 Cents/gal. This was 6.21 cents/gal more than on the day, but still a 23.72cs/gal drop week-on-week. As volati...

Benzene prices fall on lo...

- Benzene prices fall on long supply, the crude downturn- Very little demand from the styrene industry until Sep After falling crude oil prices and a glut of benzene, the European benzene market displayed a sharp bearish trend in the week to Aug. 5. The 5- to 30-day forward delivery lay can now be estimated at $959.75-980.50/mt CIF-ARA, which is down $59-65/mt and $191.25-210....

Trading activity rises du...

- Trading activity rises during MOC- 3,000mt total MTBE trade Spot European MTBE activity increased daily on Aug. 5, with one deal made during the Market on Close process from Commodity Insights. Lyondell purchased 1,000 mt of MTBE from Shell to front-end loading at $1.206-2.500/mt at 16-30:01 London Time during an extension in MOC. This disproves the premium to Eurobob Se...

Asian Methanol Markets: M...

Asian Methanol Markets: Markets remain mixed amid a diverse mood■ China closes $5-6/mt lower crude selloffs■ Basics in South Korea and Taiwan, with a balance to softThe week ended Aug. 5, 2008, mixed in Asian methanol markets. Prices were lower in certain regions, stable elsewhere, and higher in China due to varying fundamentals. Chinese import methanol spot prices outperf...

Asian caprolactam: Lower...

Asian caprolactam: Lower by $45-50/mt due to weaker upstream prices and slow demand■ Lower operation rates to reduce risk■ Benzene up by $92-98/mt during the weekAsian caprolactam prices fell by $45-50/mt over the week to $1,965-1,980/mt CFR in Far East Asia. They were lower by $45-50/mt to $1,975-2,000/mt CFR Southeast Asia on Aug. 4. The selling price in northeast Asia was low...

Asian Styrene Prices Down...

Asian Styrene Prices Down $73-78/Mt due to Low Demand■ The demand for styrene in Asia continues to be low despite the upcoming festivals■ Producers look towards September and October in search of possible demand recoverySoutheast Asia heard that there were buying interests in August loading cargo. However, volumes were low. Buyers in Northeast Asia were not interested in Au...

Asian Orthoxylene: Falls...

Asian Orthoxylene: Falls $25-30/mt amid weak upstream markets■ The Isomer-MX price drops to $50-55/mt for a week■ rebounds slightly in ChinaAsian orthoxylene prices were $25-30/mt lower this week, at $1.025-2.500/mt CFR China, and $1.055-2.500/mtFOB Korea. This was due to falling upstream prices and continuing weak downstream demand, particularly in China. According to a trader...

Asian Iso_MX: Fall $50-55...

Asian Iso_MX: Fall $50-55/mt for the week with lower crude■ The PX-MX spread shrinks faster than it does each week.■ Some producers offer low ratesAsian isomer-grade mixed xylene prices dropped $50-55/mt last week to $956-980/mt FOB Korea and $959-980/mt CFR Taiwan. The CFR China marker lost $46-52/mt to $960/mt on Aug. 5, in line with lower crude oil prices and slow demand for many down...

Asian paraxylene: Drops i...

Asian paraxylene: Drops in related markets cause a $67.67-73.50/mt plunge■ The September weaker buying reduces 's backwardation■ The paraxylene-naphtha range narrows to $347-360/mtAsian paraxylene continued a downward trend on Aug. 5, which lasted through the week. The CFR Taiwan/China marker dropped $10.33-15.50/mt and tumbled $67.67-72.50/mt during the week. It will be assess...

Asian Solvent X: August s...

Asian Solvent X: August supply is tight■ High demand causes prices to rise■ Southeast Asia Market seeks firm offersAsian solvent-MX was valued at $16-21/mt, or $911-925/mt FOB Korea on Aug. 5, despite the weaker crude oil markets and isomer mixed xylenes markets. Sources claimed that spot cargoes were hard to find in Asia due to the tight supply of solvent MX. Traders...

Asian Toluene: Lower afte...

Asian Toluene: Lower after a decline in crude oil prices■ Continued tightening of supply■ October Brent Crude Down $2.36/bDue to lower crude oil prices, Asia toluene's assessment was lower on Aug. 5. Asian toluene was valued at $33-38/mt less day-on-day at $909-930/mt FOB Korea, and at $964-990/mt CFR China Aug. 5, down $15-20/mt. Sources maintained that the market is quiet,...

Asian Benzene Down $26-31...

Asian Benzene Down $26-31/mt after Lower Oil Prices■ Wider FOB SEA/Korea locations spread on higher freight■ Sinopec reduces listing price for the third weekAsian benzene prices fell by $26-31/mt, to $967-1000/mt FOB Korea marker Aug. 5. Spot market prices are trending down in response to weaker upstream prices. A benzene FOB Korean offer was made at $970-1000/mt, against a...

Asian MMA - Stable-to–wea...

Asian MMA - Stable-to–weak in tepid spot discussion■ Sluggish feedstock markets dampen sentiment■ South Korea's June PMMA Exports to China Reach Year-to-Date LowAs tepid spot talks continued, Asian methyl methacrylate and polymethyl methacrylate markets (MMA) were steady-to-weak on Aug. 3. Falling feedstock MTBE prices further dampened MMA market sentiment. The CFR China MMA marker r...

Asian EDC/VCM Deals: Foll...

Asian EDC/VCM Deals: Following Aug downstream offers■ The recovery of PVC demand boosts EDC, VCM speaks■ For more information on upcoming turnarounds and rate reductionsAfter announcements of August-loading downstream Polyvinyl Chloride offers, some deals were made in Asian ethylene dichloride markets and vinyl chloride monomer markets. Sources reported that there was some demand recovery...

US EDC/VCM - Export EDC,...

US EDC/VCM - Export EDC, VCM constant on the week■ Market sources anticipate EDC exports increasing■ Westlake plans VCM expansion at Geismar Complex, LA ComplexSpot ethylene dichloride prices in the USA were unchanged for the week of August 2. This was based on stable pricing indicators and last-known deals at $500/mt FOB USG. Prices were estimated at $495-505/mt FOB. According to a...

European Chlor-Alkali, ED...

European Chlor-Alkali, EDC/VCM: EDC spot prices decline $35/mt amid supply length, weak PVC sentiment■ High chlorine prices pressure producers■ VCM prices for PVC are low, and EDC supplies extendEuropean producers were limited in their ability to lower prices due to high chlorine production costs. Meanwhile, PVC pricing dropped on August 2. This was hurting supplier margins. According to a...

Asian Acrylonitrile Falls...

Asian Acrylonitrile Falls $40/mt On the Week as Thin Buying Drug Prices■ Taiwan's CPDC will close one Kaohsiung-based ACN line until the end of August■ South Korea's Taekwang will keepACN plant run rate of 75% for Aug. The Asian acrylonitrile industry continued to fall in the week ending Aug. 2, due to weak downstream demand that impacted the price of acrylonitrile feedstock. ACN producer...

US ACN - Spot stable duri...

US ACN - Spot stable during the week■ Reliable■ US Supply to LowerAccording to market participants, the US spot price of acrylonitrile remained steady during the week of August 2. This was due to steady demand. The US spot ACN price was stable at $1640/mt FOB USGC despite talk of pricing in the $1,600-1.700/mt area. According to one source, "Market sentiment remains steady." AB...

European Acrylonitrile Pr...

European Acrylonitrile Pricing Bullish in the Face of Continuing Low Demand■ European Pricing at a Premium to Regional Competitors■ Market length continuesSpot pricing in Europe's acrylonitrile market rose in the week to August 2, with sellers being bullish on pricing despite the ongoing fundamentals of market length.  Insights producers said that high input and energy costs are driving b...

Asian PTA: Price volatili...

Asian PTA: Price volatility persists despite little fundamental change■ Market anticipates the fluctuation in PTA prices■ The downstream fundamentals remain unchangedAsian purified Terephthalic Acid prices increased $20/mt weekly to $830/mt CFR China, on July 29, due to higher PX and domestic PTA pricing amid little change in market fundamentals.  the CFR Taiwan/China PX indicator rose $4...

Asian Styrene: Rises $10/...

Asian Styrene: Rises $10/mt on day tracking benzene intraday prices■ Asian spot discussion halted due to weak demand■ Futures close Yuan43/mt higher, after rising as high as Yuan184/ mt the dayAsian spot styrene monomer rose $10/mt to $1130/mt CFR China. Domestic China prices were Yuan 120/mt higher Yuan 9,165/mt exp-tank. This equates to $1172.58/mt based on import parity on Aug. 3. Pric...

USGC Styrene Monomer: Sty...

USGC Styrene Monomer: Styrene drops on the week because cash costs fall■ Expected reduction in August styrene operating costs■ Styrene Market: Export buy interest lower than production costs in AugustUS August Styrene remained steady at $1,468/mt for the day of July 29, down $236/mt over the previous week. The prices remained in line with the estimated production costs of producer styrene...

European benzene, styrene...

European benzene, styrene: Low buying interest makes benzene demand slow.■ Low benzene activity■ Styrene August contract settled down Eur509/mtDue to weak August offers and low buying interest, benzene demand in Europe remained slow on Aug. 3. The forward delivery can for five to thirty days was valued at $1,139.75/mt CIF-ARA, which is $9.25/mt less than the previous day. Low be...

Asian Paraxylene: Falls $...

Asian Paraxylene: Falls $3/mt amid weaker backwardation■ A smaller appetite for September results in a narrower structure■ Taiwan's CAPCO closes the PTA Line for a Few DaysAsian paraxylene was down $3/mt in value on the day, at $1,080.33/mt CFR Taiwan/China on Aug. 3, and at $1.060.33/mt FBO Korea on Aug. 3. This was due to a weaker backwardation between September and October. Sources in...

USGC Aromatics - Spot act...

USGC Aromatics - Spot activity reduced as the energy complex plummets■ MX spot prices fall on lower offer■ September RBOB drops nearly 5% on the DayDue to limited market activity, spot prices for US Gulf mixed xylenes edged lower on August 3. This was due to sharp falls in global energy prices and weakening demand. August MX was valued at 369c/gal. This is a decrease of 15 cents. Aug...

European Xylenes - Summer...

European Xylenes - Summer holiday period halts market activity■ MX premiums ended the week lower■ OX demand has been weakenedlimited. Despite talk of slight increases in availability and subdued demands, premiums for European MX continued to fall. The MX premiums fell by $20/mt and $50/mt over the week, respectively. According to a trader, consumers are reluctant to accept...

Asian Butadiene - Stable...

Asian Butadiene - Stable amid thin price discussion■ Lower Local China amid rising Supplies■ India increases SBR Dump Duty from Korea, EU, and ThailandAsian butadiene was deemed stable on Aug. 3. However, the local China price dropped Yuan 200/mt due to rising supplies. Commodity Insights data, the local China butadiene prices fell Yuan 200/mt each day. This translated to Yuan 8,900/mt (or $1,...

US Butadiene - Spot expor...

US Butadiene - Spot export levels are flat for the week■ August CP settles at 87c/lb■ Supply continuously tight: SourcesThe US spot butadiene price remained steady during the week of July 29, despite a lack of new pricing indications. Contract levels for August have settled down month-on–month, sources stated.  US spot butadiene as 87 cents/lb or $1,918/mt CIF USG. This assessment is...

European C4 Olefins: Pric...

European C4 Olefins: Prices rise due to tight supply■ Low Rhine water causes logistical disruptions■ Production problems at someEuropean units European butadiene markets prices rose in week 29 of July due to tight supply and production challenges.  FD Northwest Europe's butadiene spot prices at Eur1,500/mt, up Eur50/mt over the previous week. Due to a shortage of offers, the market bal...

Asian Propylene Stable Am...

Asian Propylene Stable Amongst Limited Trading■ The domestic price of Shandong falls to Yuan 110/mt in day■ China's Shanghai SECCO closes 130,000 mt/year ACN Line in JulyDue to low trading activity, the Asian propylene market remained unchanged on Aug. 3. The October ICE Brent crude oil futures rose 30 cents/b to $99.48/b, compared to the Asian close. However, this did not help the marke...

US Propylene: Market inso...

US Propylene: Market insolvency persists■ Thin Market Sentiment globally■ Prices remain the sameUS propylene spot market liquidity was still very low and there were few market indications. Spot August polymer-grade Propylene was steady at 49.5c/lb FDUSG on the day. This price was within an Aug. PGP offer/bid of 47-50c/lb MtBpipe. Based on the last market indications, Sep. PGP prices...

European Propylene: Disco...

European Propylene: Discount levels tumble amid limited demand■ The spot price of PGP drops by 20% during the week■ Market sentiment pessimistic despite non-existent demandThe European propylene market continued to show bearish trends in the last week of July. Demand fundamentals were extremely weak. Spot prices for domestic polymer grade propylene fell to Eur764.50/mt FDNWE in the week...

Asia MEG Down on Low Dema...

Asia MEG Down on Low Demand■ DCE futures fall Yuan 17/mt■ The consumers continue to buy on a hand-to-mouth basisSources said that Asian mono ethylene glycol prices fell on Aug. 3 due to weak demand. On the Dalian Commodity Exchange, September 2022 MEG futures were active and traded at Yuan 17,17/mt. The day ended at Yuan 4,259/mt. MEG consumers were still buying on a hand-to-mouth basi...

USGC MEG Week: Spot eases...

USGC MEG Week: Spot eases lower amid abundant supply■ There may be plants that are running at lower rates. Sources■ Upstream Ethane Costs Nearly Double the Year-Ago LevelSpot export mono ethylene glycol prices dropped by 1 cent over the week of July 29, to 22 cents/lb FBO USG. This is based on a deal at 21 cents/lb in Mexico, and 26 cents/lb pricing for cargoes between 1,000 and 2,000 mt to La...

European Glycols - Truck...

European Glycols - Truck prices fall by Eur35/mt due to weak PET demand■ European trucks at an affordable price compared to barges, flipping with a   ■ premium Weak PET demand affects pricingInverted European monoethylene glycol bulk truck spread, barges now command a premium Eur15/mt, driven by low PET demand, while PET producers have reduced operating rates due to high paraxylene...

Asian Ethylene Activity:...

Asian Ethylene Activity: Low downstream uncertainty■ Uncertain downstream outlook keeps buyers cautious■ The Breakeven HTML2_ Spread of ethylene-naphtha remains below.On Aug. 3, activity in Asian ethylene markets was quiet as buyers were unable to secure sufficient inventory. Many buyers pointed out the weakness of derivative margins as a reason for low buying interest in August...

US Ethylene - EPC rises,...

US Ethylene - EPC rises, Choctaw notices a downtick■ Position■ EPC, Choctaw Market Structure remain at contangoThe US ethylene spot market prices were mixed as EPC prices rose and Choctaw Ethylene fell on Aug. 3. Market participants reported many offers and bids on the day, with only one Choctaw trade. Aug. EPC Ethylene rose.25c to 24.75c/lb FD Mont Belvieu. This was based u...

European Ethylene: Activi...

European Ethylene: Activity is subdued due to a decline in end-user demand■ August Contract Settlement■ US materials remain available at affordable ratesThe European ethylene market was quiet during the week ending July 29, as traders waited for the August contract price settlement. End-user demand was weak, and trading was slow. Sources say that confirmation of the contract may...

Asian Recycled PET - The...

Asian Recycled PET - The non-premium resin price dropped in the week■ There are some buyers who return to virgin PET after the fall in prices■ Recyclers continue to face high conversion costs.Asian recycled polyethylene Terephthalate prices were steady to lower over the week. However, downtrends in the virgin PET market caused nonpremium RPET prices to tick lower. Non-prem...

Asian PET: The sentiment...

Asian PET: The sentiment improves upon restocking activities■ Temporary amid low finished goods operating costs■ The Bottle-grade PET Demand remains strongThe week ended Aug. 3 saw a rise in sentiment in Asian PET markets, as sellers reported an increase in restocking activities and a successful rise in prices for polyester yarn. Market participants were cautious as the temporar...

US Recycled PET Markets S...

US Recycled PET Markets See Significant Drops in Week■ USWC Markets down 5-15 Cents/lb for the week■ Discussions on market oversupplyIn the week ending August 3, the US recycled polyethylene Terephthalate market saw significant price declines throughout the value chain. While prices for premium-grade PET bottle bales post-consumer and downstream clear packaging flake in Californ...

US PET: Import PET prices...

US PET: Import PET prices hold steady■ July upstream prices for PX are declining since June■ Container freight prices from Southeast Asia drop on the weekThe spot the US import polyethylene Terephthalate price was flat at $2,116-$2,138/mt (96 to97 cents/lb DDP US West Coast) based on pricing indications within that range. On the week of August 3, domestic PET prices were also u...

European recycled PET: St...

European recycled PET: Stable fundamentals■ Mixed-colored flakes shortage continues■ Increased SupplyThe market dynamics for European recycled polyethylene Terephthalate were mixed over the seven-day period ending Aug. 3, despite largely unchanged fundamentals. Due to the summer holidays, the market saw very little activity. Sources indicated that some companies from...

European PET Prices Drop...

European PET Prices Drop in a Muted Market■ Weakening market sentiment■ PET is an appealing alternative to R-PETAfter talk of low feedstock prices and ample supply, the prices of virgin polyethylene Terephthalate in the UK and Northwest Europe ended the week of Aug. 3 lower. According to a recycler, the market has been quiet due to the lack of activity during the summer holidays...

Asian ABS Prices Drop $20...

Asian ABS Prices Drop $20/mt due to Low Asian Demand■ ABS prices drop tracking styrene monomer■ Weak Asian Demand due to uncertain economic circumstances: SourcesAsian acrylonitrile-butadiene-styrene prices fell week on week as producers were heard to be operating at poor margins amid weak regional demand, market sources said on Aug. 3. Due to the large gap between buying, and s...

US ABS Pricing: The US AB...

US ABS Pricing: The US ABS pricing is flat for the week■ Slowing■ Upstream styrene prices lowerThe US acrylonitrile-butadiene-styrene assessment was assessed unchanged on the week of Aug. 3, based on stable last-heard pricing indications. Spot ABS was valued at 130-132c/lb. According to a market source, Latin ABS demand is slowing. Upstream, US Styrene prices fell shar...

European ABS: Prices fall...

European ABS: Prices fall after styrene's decline■ Demand is still being affected by the price drop■ The gap persists with Asia materialEuropean acrylonitrile-butadiene-styrene prices declined in the week to Aug. 3, following a sharp triple-digit drop in composite feedstock costs. A drop in key feedstock styrene was the main reason for the decline in feedstock cost. ABS ma...

Asian PS: Prices decline...

Asian PS: Prices decline on week tracking styrene prices■ Asian PS Prices were lower because of lower styrene prices■ Producers resisting further price reductionsSpot discussion in the PS export market remained muted due to a wide gap between buying and selling indications. Producers are also facing higher costs. India heard about buying interests at lower prices than what s...

US PS - US PS prices drop...

US PS - US PS prices drop amid lower costs■ Upstream US August benzene contract price settles 34% lower■ Domestic PS Buyers continue to take contract minimums through AugustBased on discussions at this level, US export polystyrene prices were $2,514/mt FAS Houston general-purpose polystyrene. This is $221/mt less than the week before. Based on the weekly pegged discussions, exp...

European Polystyrene - Th...

European Polystyrene - The market looks upstream, but there is little liquidity■ Feedstock styrene drops Eur509/mt■ Aug: ConverterThe European polystyrene markets' prices appeared to be on the verge of plummeting on Aug. 3. However, talk of lower pricing based upon upstream feedstock was not yet a reality. Activity remained low. Upstream, the August feedstock styrene monomer co...

Latin American Region PP:...

Latin American Region PP: Lower prices for the week■ Mercosur Reports Fall for Early August Bookings■ Lower Asian prices putting pressure on local producersOn August 3, Latin American polypropylene was assessed at lower prices on the West Coast and in Brazil. The Mercosur region was also lower week-on-week. Spot homo polypropylene prices along the West Coast of South Americ...

AsianPP: China edge highe...

AsianPP: China edge higher, Southeast Asia falls under $1,000/mt mark■ Far East Asia gets support after a price drop■ The equivalent of $970-$980/mt Vietnam's local pricesIn the week ending Aug. 3, prices in Asia's polypropylene market were mixed as higher Chinese prices were offset by another drop in South Asia and Southeast Asia. Domestic cargoes rose by Yuan 100/mt during th...

USPP: Spot Export Pricing...

USPP: Spot Export Pricing Down $397/mt■ Contract Prices Drop 2 Cents/lb This Week■ Spot Export Pricing Down 41% Since May 18The US Gulf Coast spot propylene levels fell 22% week-on-week, nearly $400/mt lower than the previous week, despite the minimal market activity and slow demand. However, the upstream propylene monomer levels increased during the week. US homopolymer injection...

African and Turkish polyp...

African and Turkish polypropylene: Low prices flood the Turkish and African markets■ Russia offers aggressive■ Currency exchange rate impact on buyersAs aggressive offers pushed prices, the Turkish polypropylene market fell in the week ending Aug. 3.  CFR Turkey polypropylene fiber spot price at $1,090/mt Aug. 3. This is down $80/mt from the previous week. The Turkish marke...

Petchem EMEA Weekly PP Co...

Petchem EMEA Weekly PP Commentary■ Participants mention relatively healthy fundamentals■ Limited supplies of natural materialParticipants in the market cited improved demand fundamentals in Europe's recycled polypropylene industry in the week to August 3. However, the downward trend in low-quality recycled PET continued. Black pellet pricing fell Eur40/mt from the previous week at Eur...

European Polypropylene: T...

European Polypropylene: The demand is weakening despite the drop in propylene prices■ Sellers have difficulty meeting buyers' expectations■ The homopolymer market is tighter than theEuropean polypropylene demand was low in the seven-day period ending Aug. 3, despite the news that the industry-settled contract prices for key feedstock propylene dropped Eur85/mt from the month to...

Asian Recycled HPPE: Low...

Asian Recycled HPPE: Low Demand■ Fall in line with declines in prime resin■ The majority of buyers prefer domestic recyclingSources said that Asian recycled high-density polyethylene prices dropped on Aug. 3, due to weak demand. Due to low demand, recycled HDPE prices have been declining in line with prime resin for six months. The sources said that the decline in recycled H...

European recycled HDPE -...

European recycled HDPE - Market sentiment changes to bearish as the demand wavers■ The natural pellet market is the only one that sees continued demand■ Buyers want lower prices as is a virgin spot.The market for European recycled high-density polyethylene was bearish in the week ending Aug. 3. This was due to an increase in supply, especially of darker colored pellets, and a w...

Latin American HDPE: All...

Latin American HDPE: All HDPE regions see $50-60 reductions■ Brazilian Real 500-700/mt Falls for PE■ Stable for all HDPE gradesThe prices of high-density polyethylene were lower in August for the West Coast and Brazil than they were on August 3, while the Mercosur region remained unchanged. Argentine domestic markets reported an increase in August while Colombia, Mexico, an...

Asia HDPE: Low demand |...

Asia HDPE: Low demand■ Brent drops $1.07/b in week■ China’s Sinopec & INEOS plan new HDPE before the end of 2023According to market sources, Asian high-density plastic ethylene prices dropped in the week ending Aug. 3, due to weak demand. On Aug. 3, the October ICE Brent crude oil futures fell $1.09/b to $99.48/b. Due to China's economic weakness and restrictions on mo...

US Recycled HPPE: Prices...

US Recycled HPPE: Prices continue to fall■ Natural Markets down three cents per day■ WeakeningOn August 3rd, prices of US recycled high-density polyethylene experienced slight declines in natural markets. Prices for mixed-color feedstocks also fell during the week.  natural pre-consumer HDPE fell three cents per day and dropped to 45 cents/lb FOB Chicago, based on material that w...

US HDPE - Spot export pri...

US HDPE - Spot export pricing down almost 30% since May■ Blowing, film-grade export levels down $111 per week■ The market was bearish, as contract levels also dropped 2 cents/lbSpot prices of high-density polyethylene were at least $66.50/mt lower across grades during the week ending Aug. 3. This was in response to rapid price drops that market sources reported as suppliers attempt t...

Turkish and African Polye...

Turkish and African Polyethylene: Prices lower for weaker fundamentals■ Turkish HDPE spot prices down $70/mt during the week■ Plenty of supply in West AfricaIn the week ending Aug. 3, the Turkish polyethylene market declined due to weakening demand and long supply. There were very few transactions in the Turkish market because many buyers were waiting to see where prices settled and...

European HDPE: Trade slow...

European HDPE: Trade slows as south Europe breaks August.■ Ethylene Contract settles down Eur70/mt for month■ Despite low demand, sellers continue to sell aggressivelyIn the week ending August. 3, converters, traders, and distributors in southern Europe began to slow down their traditional August break activity. Upstream news reported that the August industry-settled ethylene Mon...

Latin American LLDPE: Bra...

Latin American LLDPE: Brazil suffers a big drop, WCSA also sees a drop■ The Mercosur prices plummet in early August■ US prices pressure Mexico into a downtrendSources said that spot prices for Latin American linear low-density polyethylene were lower on the West Coast of South America and in Brazil and Mercosur as of August 3. Spot import pricing for LLDPE along the West Coast o...

Asia LLDPE: Fallen on wea...

Asia LLDPE: Fallen on weak demand■ Rising Interest Rates Limit Your Ability to Take Loans■ The lowest prices since January 2021Sources said that Asian linear low-density polyethylene (LDPE) was less expensive in the week ending Aug. 3, due to a historically weak demand season.  Commodity Insights data revealed that PE prices are at their lowest level since January 2021 because o...

US LLDPE Metallocene drop...

US LLDPE Metallocene drops to nearly $200/mt in the week■ Shell’s PE complex at Monaca to go fully online in Q4 2022. CEO■ Butene import prices down more than $425/mt from May 18Spot exports for linear low-density polyethylene grades were steady to down over the week of August 3. Hexene-grade LLDPE was affected by a force majeure. Prices for other grades fell sharply due to producers...

European LLDPE - Market a...

European LLDPE - Market activity limited despite August pricing■ Ethylene Contract settles down Eur70/mt■ South Europe's market activity slowsThe Eur70/mt decrease in European ethylene contract prices did not spur buyers' interest over the seven-day period ending Aug. 3. Buyers waited for fresh offers on the market while others were either absent or preparing for August break. A...

Latin American LDPE: Larg...

Latin American LDPE: Large drops in LDPE■ Argentina increased $100/mt■ Colombia relies on local offeringsSpot prices for Latin American low-density polyethylene were lower in Brazil and on the West Coast of South America on August 3. Sources said that prices saw a significant drop in Mercosur and fell in Colombia, Mexico, and Brazil. Spot import pricing for LDPE along the West C...

Petchem Asia Weekly Recyc...

Petchem Asia Weekly Recycled PETPE: Low Demand■ The US and Europe markets are being viewed by recyclers■ Unstable quality dampens tradeIn the week ending Aug. 3, Asian recycled low-density polyethylene prices fell. China was the main buyer, according to a trader. The trader also stated that China was the largest market for recycled low-density polyethylene. Sources said that 100%...

Asia recycled LDPE - Down...

Asia recycled LDPE - Down on weakening demand■ The US and Europe markets are being viewed by recyclers■ Unstable quality dampens tradeIn the week ending Aug. 3, Asian recycled low-density polyethylene prices fell. China was the main buyer, according to a trader. However, China's demand is extremely low due to economic uncertainty. Sources also stated that 100% recycled film was...

US Recycled PET: Prices a...

US Recycled PET: Prices are stable today■ Sources have varying supply levels■ WeakeningDespite market talk about softening demand, the US recycled low-density polyethylene markets were unchanged on Aug. 3. Based on pricing information received recently, post-use LDPE movie bales made of 95% clear LDPE and a 5% non-LDPE allowance were unchanged at 28c/lb FOB Chicago. Despite...

US-LDPE: Rapid price eros...

US-LDPE: Rapid price erosion causes a drop in spot export levels■ LDPE inventory increased by about 3% in June, ACC■ The domestic LDPE prices have fallen again this week at 86-87c/lbThe export rail car levels of low-density polyethylene (LDPE) softened on the week ending Aug. 3. This was despite a market that has seen rapid price erosion and producers trying to move inventory despi...

European Recycled PET: Ma...

European Recycled PET: Markets are bearish due to higher supply and lower demand■ High stock makes it difficult for suppliers to move material.■ Buyers want lower prices as is a virgin spot.In the week ending Aug. 3, spot pricing remained stable in Europe's recycled low-density plastic ethylene market despite downward pressure from a variety of factors. With the usual summe...

European LDP: The monomer...

European LDP: The monomer settlement continues to bring down demand.■ The cost of Ethylene drops to Eur70/mt for the month■ Southern Europe's buyers close down August operationsThe European low-density polyethylene market was quiet in the week up to August 3. Participants waited for fresh August offers, while others were on summer vacations. Upstream news reports that the...

Latin American PVC: WCSA...

Latin American PVC: WCSA cuts down on lower US offerings■ Competitive prices: Sources■ Brazil is seeing a steady downtrend in the Asian supplySources said that spot import PVC prices in Latin American markets were lower this week than they were on August 3. This was due to the continuing downtrend in the US and Asia, which is affecting the local markets. PVC prices on the Pacific co...

Asian PVC: Stable amid qu...

Asian PVC: Stable amid quiet trading■ US supplies to India, China■ Players take a wait-and-see approach amid risingThe US-China tension Asian Polyvinyl Chloride was evaluated as a stable week on Aug. 3, with the CFR China Price assessed at $900/mt. The local China PVC price increased Yuan 250/mt on the week of Aug. 3, due to firming sentiment and bargain hunting. Market sou...

US PVC: August export PVC...

US PVC: August export PVC prices plunge $230/mt on week■ Buyers are tempted by Slash Offers■ Logistics logjams continue to stymie outflowsSpot US export PVC prices fell $230/mt in the week of August 3. This was based on confirmed deals at $770-$780/mt FAS Houston. Prices were set at $790-$800/mt FAS Houston. The base range was $770-$780/mt FAS with an additional $20/mt to a...

European PVC and Turkish...

European PVC and Turkish PVC: Recession fears cause a drop in spot prices■ HTML2_ HTML3_ HTML3_■ Turkish Prices Continue to Fall Despite Low DemandEuropean producers of polyvinyl chloride expected August demand to fall amid concerns about a recession in the US and Europe before September. This month is when buyers return to replenish stocks. One producer said that converters would...

Asian MMA/PMMA Stable to...

Asian MMA/PMMA Stable to Firm amid loosening COVID-19 China■ Long-term cost pressures to boost prices in H2■ Singapore's MMA exports are boosted by SEA reopening Asian methyl methacrylate, (MMA) CFR China marker remained unchanged but was up $30-35/mt over the week to $1800-1830/mt on June 8. This was due to improved demand from China and the loosening of COVID-19 regulations. ...

Asian Recycled PET - [Dyn...

Asian Recycled PET - [Dynamic]■ Post-holiday shopping: the delayed uptick■The prices of Virgin R-PET are fairly stable The week saw stable prices for Asian recycled polyethylene Terephthalate amid mixed supply outlooks and changes in related markets. Some Southeast Asian recyclers experienced a slow start to post-holiday purchasing. However, they saw an increase in purchases fr...

Asian PET: Increased PX a...

Asian PET: Increased PX and PTA Offers■ Bottle-grade PET chips get lower deals at $120-140/mt■Polyester Demand is weak due to tepid downstream activities Prices for Asian PET rose in the week ended June 8th, as producers increased their offers due to surges in key upstream PX/PTA sectors. Due to the summer peak season, PX prices rose from $247.66-280.50/mt to $1.512-2.500/...

Asian PTA Prices Soar to...

Asian PTA Prices Soar to Multiyear Highs Led by Upstream Paraxylene■ PTA supplies might be a little tighter at a lower operating cost■ India spot discussions negligible. It was the volatile week that ended June 10th for PTA. This closely tracked upstream paraxylene price movements. PTA CFR China marker rose nine years to $1087-1120/mt on June 8 but dropped steeply to...

Asian ABS: Under pressure...

Asian ABS: Under pressure from both downstream and upstream■ Rising feedstock costs but weakening demand affect margins■ China has a low import appetite in Asia Acrylonitrile-butadiene-styrene stood stable on the week at $1,745-1,775/mt CFR China and $1,795-1,830/mt CFR Southeast Asia on June 8, facing increasing pressure from surging raw materials costs but bearish deman...

Asian Polystyrene Rises t...

Asian Polystyrene Rises to $10-$40/mt due to a surge of feedstock■ Asian Styrene Rises to $103-130/mt in Week■ Slow demand lags downstream increase Asian polystyrene rose $10-40/mt during the week to June 8. This was due to firmer feedstock styrene, while China's demand remained low because of low buying interest. General-purpose polystyrene (or GPPS) rose $30-35...

Asian Price Point: Market...

Asian Price Point: Market optimism drives up Chinese domestic prices. Other regions follow■ Economic recovery in China■ The overall demand remains low The Asian polypropylene market saw prices rise slightly on June 8, thanks to buoyant sentiment stemming in part from recovering China. East China's prompt domestic cargoes rose by Yuan 75-100/mt over the past week, to Yuan...

Asian Recycled HPPE: Pric...

Asian Recycled HPPE: Prices stable in thin trade■ The local demand is unchanged■ China's economy is set to recover In spite of China's economic recovery prospects, Asian recycled high-density polyethylene prices remained stable on June 8. While recyclers noted that local demand was stable, some market participants expressed concerns about poor export prospects due to...

Asian HDPE Weekly Comment...

Asian HDPE Weekly Commentary■ Crude futures up at 84 cents/b for the day■ Increased demand for HDPE grades to meet In line with stronger Asian market sentiment, high-density polyethylene prices rose in Asia in the week to 6/8. Even though China was freed from lockdowns in May, demand did not rise as much as anticipated. According to market sources, the next round o...

Asian LLDPE Weekly Commen...

Asian LLDPE Weekly Comments■ ICE Brent crude oil futures rise to $0.84-1.50/b during the day■ A stronger market has been seen in South Asia and the Far East Asia In the week ending June 8, Asian linear low-density polyethylene prices were stable to rise as market sentiment improved following gains in crude oil. Also, there was hope for demand recovery in China with Shangh...

Asian Recycled PET: The m...

Asian Recycled PET: The market expects upsides■ Prices stable because of low buying■ Optimism Over China's Re-Opening Due to thin trading, Asian recycled low-density polyethylene prices held steady at $80 per pound on June 8. Sources said that prices have remained stable due to a lack of buying and that there was still plenty of supply because of the expansion of regio...

Asian LDPE Weekly Comment...

Asian LDPE Weekly Comments■ India drops proposal to implement an anti-dumping tax on LDPE imports■ ICE Brent crude oil futures rise to $0.84-1.50/b during the day Due to rising crude oil prices and market sentiment, Asian low-density plastic ethylene prices were stable to higher during the week to June 8. Although demand in Asia was slow, despite Shanghai & Beiji...

Asian PVC Prices Rise $10...

Asian PVC Prices Rise $10-20/Mt on Firm Sentiment■ FOB China Rises amid firming local markets■ July Offers likely to be raised The sentiment was seen as firming due to coronavirus-induced lockdowns being eased in some Chinese cities. Asian polyvinylchloride rose $10-20/mt week from June 8. CFR China PVC prices rose $10 per week to $1,200-1,240/mt, while CFR India price...

Asian Butadiene - Stable...

Asian Butadiene - Stable amid thin price discussion■ China's highest ranking since Sep 2018■ China export opportunities thinning As thin price negotiations continued, Asian butadiene was rated stable on June 10. Asian butadiene was stable at $70-75/mt higher than a week before, with the CFR China cost spiking $70-75/mt over the week prior to $1,580-1,620/mt on June 10,...

Asian Propylene: CFR Chin...

Asian Propylene: CFR China stable despite thin trading■ Shandong propylene up Yuan 50-70/mt■ China's Fujian Zhongjing delays the new Jiangyin PP Plant to July Asia's propylene market remained stable on June 10, as buyers and sellers waited for clearer market direction to decide if they would take their positions. A Korean propylene producer said that the market is imp...

Asian MEG Prices Higher o...

Asian MEG Prices Higher on Week Despite Bullish Crude, MEG futures■ Increases in Polyester Buoys Sentiment■ Uncertainty grows amid ethylene declines Bullish crude oil futures and Chinese domestic market MEG futures pushed Asian MEG prices higher during the week ended June 10. Producers said that successful increases in downstream polyester sectors helped buoy the sen...

Asian Ethylene Prices Fal...

Asian Ethylene Prices Fall on Bearish Sentiment■ Strike by truck drivers in South Korea leads to operating rate reductions■ Increases in NE Asia derivative issues The Asia ethylene market prices fell in the week ended June 10, due to weak derivative demand and an increased supply for July. According to traders and company sources, South Korean crackers cut operating r...

Asian MTBE: Rises $24.50-...

Asian MTBE: Rises $24.50-29.50/mt on firmer gasoline, 92 RON crack■ Asian MTB likely to stay firm in H2 2022■ 92RON rises 1.81%, and 92RON crack rises 9.82% Asian MTBE was valued at $24.50-29.50/mt, $1,379.50-1,420.50/mt on June 10, due to firmer gasoline, and 92 RON cracked despite few discussions. The 92RON gasoline rose 1.81% to $155.72/b while the 92RON crack was...

Asian Methanol Prices: Th...

Asian Methanol Prices: The abundance of Methanol weighs on prices■ China’s methanol stock to grow due to the influx of cargoes■ Selling Pressure in Southeast Asia■ Muted trade activity in India Asian methanol prices fell in the week ending June 10, as a large supply of methanol weighed on sentiment. However, crude oil and coal markets in China were still positive....

Asian Caprolactam - Low d...

Asian Caprolactam - Low demand because of poor economic conditions■ The week is when benzene feedstock falls.■ Discussions thin Due to the negative margins of producers and slow nylon demand, Asian caprolactam markets saw little activity in the week up to June 9. CFR Far East Asia caprolactam, which is available at $2,190-2,240/mt, was valued at $10-15/mt. Sout...

Asian Styrene Monomer: Ri...

Asian Styrene Monomer: Rises $20-25/mt on firm China market■ China has a strong domestic market■ India: Southeast Asia demand starts to slip On June 10, the Asian styrene markets ended their last session on a positive note, supported by rising domestic prices in China. The physical prices of styrene increased from $20-25/mt to $1,505-1,540/mt CFR China on June 10 and...

Asian Orthoxylene: Increa...

Asian Orthoxylene: Increases $60-65/mt due to strength in similar markets■ Asian X increases $120-135/mt during the week■ Lower margins could force downstream companies to shut down The Asian Orthoxylene Market saw tensions between buyers, sellers, and suppliers due to the wider buy-sell gap. This was due to the market's rising feedstock costs but slow demand. China c...

Asian Isom-MX: Falling $5...

Asian Isom-MX: Falling $52-57/mt in the face of a decline in related markets■ July & August Offers Lower on Day■ CPC Corp. sells tender for Isomer -MX Asian isomer MX prices dropped $52-57/mt from $1,444-1,480/mt FBO Korea to $1,394-1,440/mt CFR Taiwan to $1,444-1,480/mt FBO Korea and $1,210-1,250/mt CFR China on June 10, due to the decline in upstream and downstream m...

Asian Paraxylene: The pri...

Asian Paraxylene: The price of the drug plummets to $86-90/mt in a slow mood■ Market sentiment weakens■ The PX - Naphtha spread drops to $601.625/mt Asian paraxylene fell $86-90/mt during the day but rose $59.67-65.50/mt over the week to $1,412.50-1,450.50/mt CFR China on June 10, after reaching an eight-year high at $1,512.83-1,540.50/mt in the middle of the week. T...

Asian Solvent X: Amid gai...

Asian Solvent X: Amid gains in xylenes, jumps $137-150/mt■ South Korea marker observes active participation■ Still open Arbitrage to the US■ China market returns Asian solvent-MX was valued at $137-150/mt during the week at $1.454-2.500/mt FOB Korea. There was continued buying interest from South Korea within the market for solvent-grade mixed xylenes in the w...

Asian Toluene: High price...

Asian Toluene: High prices due to tight supply■ Buyers become more cautious■ The spread of CFR China and FOB Korea narrows to minus $15-20/mt Sources said that Asian toluene prices rose on June 10, despite a shortage of global supply. Stronger solvents markets and healthy demand for gasoline blenders continue to fuel price increases. A trader stated that the FOB Korea...

Asian Benzene Weekends wi...

Asian Benzene Weekends with Signs of Price Trend Placing■ Physical backwardation spread thins■ July Paper inked at $1.400-2.500/mt. Benzene-naphtha narrows As the Asian benzene market ended its week, it appeared to have reached a plateau. Buyer interest slowed ahead of final port and lay can declarations. FOB Korea benzene physical markers stood at $1.452-2.500/mt on...

Asian MMA: MMA sustains p...

Asian MMA: MMA sustains price levels, while run rate cuts extend losses.- In June, Singapore's MMA imports surpassed all-time highs.- Tepid spot discussion amid lackluster downstream demand, lower operation ratesThe Asian methyl methacrylate and polymethyl methacrylate markets suffered further losses on July 27. However, sharper falls were limited by run rate cuts at the Asian MMA...

Asian Recycled PET - Stab...

Asian Recycled PET - Stable in a soft virgin market- Producers remain concerned about processing costs- Virgin PET Prices Move LowerThe steady price of Asian recycled polyethylene Terephthalate was despite high processing costs and a slight dip in the virgin PET market. Recyclers pointed out that conversion costs remain high and will likely continue to rise over the next...

Asian PET: Fundamentals u...

Asian PET: Fundamentals unchanged, discussion levels rangebound- PET chips are stable- The fiber grade and yarn offer rises on upstream increasesThe week ended July 27th was a rangebound week in Asia's PET markets. Demand and supply fundamentals were stable, so discussions were limited. Sellers in the PET bottle market noted that there was a steady stream of inquiries about Septem...

Asian PTA: Price volatili...

Asian PTA: Price volatility persists despite little fundamental change- Market anticipates fluctuations in PTA pricing- The downstream fundamentals remain unchangedAsian purified Terephthalic Acid prices rose $20-25/mt weekly to $830-850/mt CFR China on July 29, a result of higher PX and domestic PTA pricing, despite little change in market fundamentals. CFR Taiwan/China's PX...

Asian ABS: $10-15/mt down...

Asian ABS: $10-15/mt down amid weaker China domestic markets- Weaker domestic China supplies prices- Sources expect demand to recover in SeptemberAsian Acrylonitrile-butadiene-styrene prices were assessed down by $10-15/mt on the week at $1,500-1,540/mt CFR China and lowered by $10-15/mt at $1,550-1,580/mt CFR Southeast Asia on July 27. The international market heard the offer...

Asian PS - Prices fall by...

Asian PS - Prices fall by $10-40/mt due to lower upstream demand- Lower import requirements due to weaker domestic China prices- Higher inventory lowers the operation rateAsian polystyrene market prices dropped by $10-40/mt over the week of July 27th, due to lower upstream styrene monomer prices and weak downstream demand. Due to volatile upstream SM price movements, dow...

AsianPP: China's domestic...

AsianPP: China's domestic stability during the week has seen a sharp decline in import prices- HTML ID-19 Concerns remain even though China's domestic prices rebound- South Asia prices fall due to lower offersThe week ended July 27, saw a sharp drop in prices on the Asian polypropylene markets for overseas trade. This was due to bearish sentiment around the world. Sources...

Asia Recycled HPPE: Stabl...

Asia Recycled HPPE: Stable in thin trade- Some vendors are considering biopolymers- Variable quality limits tradeSources said that Asian recycled high-density polyethylene prices were stable in July due to thin trade. According to sources, recycled prices have been declining in line with prime resin for the past six months due to low demand. Petrochemical plants had planne...

Asia HDPE: Low demand |...

Asia HDPE: Low demand- Economic weakness slows down buying- South Asia has a low demand due to the single-use plastic banAccording to market sources, Asian high-density plastic ethylene prices dropped in the week ending July 27, despite weak demand. Due to the poor economic outlook, severe weather that can affect logistics and utility costs, as well volatile upstream oil price...

Asia LLDPE: Weak demand...

Asia LLDPE: Weak demand- Price at a Year Low- Strong US dollar drives down demandSources said that Asian linear low-density polyethylene (LDPE) was less expensive in the week ending July 27, in a historically weak season. Due to low demand and high crude costs, PE prices are at their lowest level in a year. Sources say that rising interest rates have made it difficu...

Asia recycled LDPE - Stab...

Asia recycled LDPE - Stable in thin trade- Recyclers who work with post-industrial material- Unstable quality dampens tradeThe week ended July 27, with little trading, saw Asian recycled low-density polyethylene prices remain stable. Sources claimed that 100% of the recycled film was not traded due to inconsistencies in mechanical properties. Most of the recycled manufacturing w...

Asia: Low demand | Uncer...

Asia: Low demand- Uncertain Economic Outlook- India's weak demand during a monsoonDue to low demand and uncertain economic outlook, Asian low-density plastic ethylene prices were lower for the week of July 27, according to analysts. Despite the high demand for food packaging, sources claimed that the markets for other plastic derivatives made from LDPE were still weak. Sou...

Asian PVC: As stable as t...

Asian PVC: As stable as the buying appetite seen emerging- FOB China offers firm- Asia PVC-VCM spread hits eight-month highOn week July 27, Asian polyvinylchloride was deemed stable. According to some market sources, the Asian PVC market has reached its bottom. In China, there is a growing buying interest. Ethylene-based PVC prices rose Yuan 200/mt weekly to Yuan 6,700-7,00...

Asian Butadiene: Stable a...

Asian Butadiene: Stable amid bearish sentiment, ample supplies- Market under pressure amid weak demand, ample supplies- Asia SBR-butadiene spread at $630-650/mtOn July 29, Asian butadiene was deemed stable day-on-day. Asian butadiene saw a drop of $30-50/mt from a week prior, while the CFR China reached a four-month low at $1,200-1,240/mt. The week ended July 24th was a be...

Asian Propylene: CFR Chin...

Asian Propylene: CFR China Marker Stable amid Thin Trading- Shandong propylene up Yuan85-105/mt- Taiwan's Formosa Plastics to closeMailiao ACN plant to turn around Aug 12 The propylene marketplace remained unchanged on July 29, as buyers weren't keen to buy propylene imports. The ICE September Brent crude oils futures rose 83 cents/b to $108.72/b on the 0830 GMT Asian closing...

Asia MEG - Prices up by w...

Asia MEG - Prices up by week; July to date prices lowest since December 2020- September was deemed the peak season.- Futures up Yuan57-77/mtAsian mono ethylene glycol prices fell slightly on July 29 but rose on the week. Sources claimed that the polyester industry was not operating at high rates due to unsold products. Sellers stated that MEG margins remained deeply negati...

Asian Ethylene - Sentimen...

Asian Ethylene - Sentiment mixed in the uncertain market direction- A slight rebound in Chinese futures lifts sentiment- Producers notice an increase in inquiries for September-loading shipmentsThe week ended July 29th was mixed for Asian Ethylene market sentiment. Participants noted that sentiment for mid-August arrivals was still weak due to weak derivative margins.&nbs...

Asian MTBE: Falls $35-40/...

Asian MTBE: Falls $35-40/mt amid dimming demand outlook- Runs lower after the steam cracker shut down- Diesel 92 RON drops 0.10% per day on dayAsian FOB Singapore MTBE dropped $35-40/mt daily to $1,056/mt on July 29. This was because an offer for September loading cargo had failed to find a buyer. The MTBE factor dropped 0.035 points to 1.083 on the day. The 92RON crack fe...

Asian Methanol: The price...

Asian Methanol: The prices are stable because the run rates have been reduced by the producers- Basics mixed in China- Increase in India's trading activityIn the week ending July 29, the downward momentum in Asian Methanol prices seemed to have waned as methanol producers reduced operating rates and investors took advantage of bullish sentiment in the crude oil futures and me...

Asian Caprolactam - Overs...

Asian Caprolactam - Oversupply and weak demand increase selling pressure- Lower offer prices- Sentiment is weighed by weak nylon demandIn the week ending July 28, Asian caprolactam markets continued to be under pressure due to weak fundamentals. Some sellers attempted to reduce prices to increase demand. CFR Far East Asia caprolactam prices and CFR Southeast Asia caprolactam p...

Asian Styrene: Troubles $...

Asian Styrene: Troubles $27.50-33.50/mt, as the domestic China market weakens- Discord between adequate supply in India and China- Large gap between buying and selling indicationsDue to a decline in Chinese domestic prices, Asian spot styrene monomer prices fell from $27.50-33.50/mt to $1,150-1,180/mt CFR China on July 29. China's domestic prices fell Yuan420-470/mt over the d...

Asian Orthoxylene - Stabl...

Asian Orthoxylene - Stable to Lower amid Low Demand- Trade remains in Asia- The market is struggling with low demandIn the week ending July 29, the Asian orthoxylene market was at a standstill. There were no negotiations for CFR China imports. Buyers stated that they expected domestic prices to fall due to low demand. China's largest OX producer kept OX prices at Yuan 8,300-8,...

Asian Iso_MX: Increases $...

Asian Iso_MX: Increases $38.50-$62/mt per week with stronger upstream- PX-MX spread narrows- Japan's June Exports FallMixed xylene of Asian isomer grade rose $59-65/mt over the week to $1.006-2.500/mt FOB Korea. It also rose $62-67/mt $1,009-1,040/mt CFR Taiwan and $38.50-43.50/mt $1,006-1,040/mt China on July 29, as upstream prices recovered. The week saw downstream paraxylen...

Asian paraxylene - Tumble...

Asian paraxylene - Tumbles $23-28/mt in slow demand- The average PX-naphtha spread is $336.70-350.50/mt- Aug PX ACP ends without settlementAsian paraxylene ended the week of July 29 with a bearish note. Market participants took a cautious approach following the return to $370-400/mt in PX margins. CFR Taiwan/China's marker fell $23-28/mt and $42.34-48.50/mt during the week, clo...

Asian Solvents MX: Prices...

Asian Solvents MX: Prices rise this week due to tighter supply- Lower production, tighter supply- Thin Spot Discussion ahead of August rolloverAsian solvent mixed xylene prices increased week-on-week, taking into account the week's higher energy prices and other prices. Industry sources also said that there was talk of an imbalanced supply, with stocks being short. On Ju...

Asian Toluene - FOB Korea...

Asian Toluene - FOB Korea marker drops $33-38/mt on weaker aromas complex- China: Ex-tank prices become more affordable- India's extant discussions reboundAsian toluene prices fell on July 29, the day before rollover on August 1. This was in line with the rest of the aromatics. The benchmark paraxylene price fell $23-28/mt to $1,120.67-1,160.50/mt CFR Taiwan/China. Isomer-MX drop...

Asian Benzene: Trade mome...

Asian Benzene: Trade momentum drops on lackluster demand- The demand extends its weakness- Sinopec lowers East China listed benzene priceOn July 29, sources claimed that the Asian benzene markets began to show signs of a slower pace in trade momentum. Buyers and sellers could not reach an amicable trade agreement, indicating that there were fewer buyers. FOB Korea benzene physic...

Plasticizers are weak in...

- Plasticizers are weak in the domestic market, but stronger globally: Sources- Domestic NBA 2-EH levels fall by 4 cents/lb in July PGP CP The US oxo-alcohol market was tepid, with prices falling on the week of 7/28. This is despite players being prepared for a recession. Normal butanol export prices were $50 lower week-over-week on July 28, at $1,995-2,005/mt FOB USG. This was b...

Supply Chain disruptions...

- Supply Chain disruptions continue- Lower water levels in the Rhine allow for 50% barge loading, or less While the European methanol spot markets remained relatively unchanged on July 28, talk about supply constraints continued. The FOB Rotterdam five to 30-day spot price for methanol was Eur385-390/mt on July 28, a stable day despite thin spot liquidity. July 28 saw no new...

South Korea’s Hanwha plan...

- South Korea’s Hanwha plans an 80% reduction in the 2-EH unit run rate for Aug- South Korea’s OCI Company plans to launch its PA line 3 in August In the week ending July 28, the 2-ethyl hexanol CFR China price marker lost ground due to weak downstream demand. Yuan 8,100-8,300/mt was in Shandong, and Yuan 5500-5600/mt in east China. This is a drop of Yuan 500-550/mt. It equates t...

India has a healthy AA in...

- India has a healthy AA interest, but there is a large buy-sell gap- Southeast Asia VAM Buyers Switch to SM AA: Chinese domestic Acetic Acid prices were steady to a little soft in the week to July 28. This was due to a growing supply of ethyl acetate stock, and low demand. Indian buyers showed a strong appetite for August and September cargoes, with an interest in 1,000-6,000 mt...

PVC demand recovery incre...

- PVC demand recovery increases EDC, VCM talks- For more information on upcoming turnarounds and rate reductions After announcements of August-loading downstream Polyvinyl Chloride offers, some deals were made in Asian ethylene dichloride markets and vinyl chloride monomer markets. Sources indicated that there was some recovery in demand in China, as domestic PVC prices rebounded...

Fanavaran plant running a...

- Fanavaran plant running at 90%, Kimiaye at 50%- Indian ex-tank at Rupees 24,.50-24.75/kg On July 28, Chinese methanol futures rose Yuan119-170/mt due to bullish crude oil prices and unsubstantiated talk about unplanned methanol plant failures in Iran. Many market sources believe that the Asian methanol market is at its bottom as methanol producers around the world consider cutting...

Producers reduce offer pr...

- Producers reduce offer prices- A weak nylon demand weighs down on sentiment In the week ending July 28, Asian caprolactam markets continued to be under pressure due to weak fundamentals. Some sellers attempted to reduce prices to increase demand. CFR Far East Asia caprolactam prices and CFR Southeast Asia caprolactam physical prices were $2,010-2,040/mt & $2,020-2,050/mt resp...

Slow trade keeps AA price...

- Slow trade keeps AA prices stable- VAM prices in downtrend AA: Spot trading was slow and the European acetic market's fundamentals remained unchanged for the week of July 28. On July 28, AA was valued at Eur1,600-1,620/mt to be delivered in Northwest Europe. No new prices were heard. Prices for South Europe were slightly higher at Eur1,630-1,650/mt. However, a product...

Increased prices in n-but...

- Increased prices in n-butanol and i-butanol markets- Seller pricing flexibility is limited by upstream costs The European oxo alcohol market continued to experience weak demand and strong supply during the week ending July 28, mirroring the trends observed throughout the propylene value chains in July. Despite the market length, sellers remain bullish on their pricing levels. This...

Saudi Aug CP Propane Swap...

- Saudi Aug CP Propane Swaps $36-42/mt Below July Term CPs- Aug Sep CP Swaps Backwardation Widens to $1.5-2.5/mt; Sep/Oct Contango Reduces The August-one August Saudi Propane CP Swap was valued at $689-720/mt. This was $8-9/mt more than the July term CPs and $36-42/mt lower. The August-September CP Swaps market structure was valued with a backwardation at $1.5-2.5/mt. This value...

Asia LPG Prices Recover,...

- Asia LPG Prices Recover, but Brent Gains in a Quiet Market- Indonesia's Pertamina wants Aug/Sep equally split LPG in tender Asia LPG prices increased on July 28 but fell short of the $23.04-28.50/mt rise in September ICE Brent crude oil futures. This was due to a quiet market, with no offers or bids. H2 August CFR North Asia propane rose $8-9/mt to $718.5-750.50/mt, on July 28.&...

Low selling interest in E...

- Low selling interest in Europe and the USA- August spot methanol is still at 114c/gal The US methanol spot market indicators were absent on July 28 due to a lack of trades, bids, and offers from market participants. Because of the absence of trading discussions, August spot Methanol was stable at 114c/gal FOB USG. September spot Methanol was steady at 115c/gal FOB USG. Simil...

Benzene spot rebounds |...

- Benzene spot rebounds- Styrene production prices resume as pricing floor amid lower purchase interest US August DDP-benzene rose 16 cents/gal to 436c/gal on July 28. This was due to lagging volatility and prompt benzene tightness. The higher benzene price rose 3.81% despite weakening upstream crude futures which fell 84c/b to $96.42-102.50/b. This was 0.88% less. On July 28...

EPC Prices on a Downtick...

- EPC Prices on a Downtick- Choctaw is stable The US ethylene spot market participation increased on the day, amid numerous bids and offers made by market players on Jul 28. Spot Mont Belvieu ethylene fell 0.25c to 24.75c/lb FD Mont Belvieu based upon a July ethylene offer/bid range of 24.5-24.875c/lb MtB pipe. August Mont Belvieu ethylene dropped 0.5 cents and 25 cents/lb FD...

There was no market activ...

- There was no market activity- August gasoline prices rise, September falls Due to a deepening backwardation of gasoline futures, US Gulf nitration-grade toluenes and mixed xylenes stabilized on July 28. August NGT was valued at 441c/gal and August MX at 446c/gal FOB USAG, for each flat of the day. August RBOB closed higher by 3.58 Cents at 346.46c/gal and September closed lo...

Rhine water levels drop a...

- Rhine water levels drop again- More information about the price structure in contango Sources said that the Northwest European naphtha Market remained in contango at its front, evidence of low demand due to, among other things, low water levels on the Rhine. The August/September spread dropped $1.75-2.50/mt to minus 3/mt. It has been very difficult. One source stated tha...

CFR China's four-month lo...

- CFR China's four-month low- Participants are waiting for Southeast Asia to sell tender results Asian butadiene was priced at $30-35/mt less on July 28th, with CFR China prices hitting a four-month low of $1200-1240/mt. This was due to low demand and limited availability of spot supplies, particularly from Southeast Asia. As market participants waited for the results of the mo...

After the steam cracker s...

- After the steam cracker shut down, PCS reduces runs- Petrol 92 RON rises by 2.12%; crude oil up 2.21% during the day Asian FOB Singapore MTBE rose $22.50-27.50/mt per day to $1,091-1,120/mt on July 28, supported in part by tighter supplies as a result of lower runs amid firmer gasoline prices and oil markets. The gasoline 92 RON rose 2.12% per day to $115.47-130.50/b, while the c...

Shandong propylene up Yua...

- Shandong propylene up Yuan 25-40,/mt- Nan Ya Plastics will reduce the price of the 2-EH unit Propylene markets remained stable on July 28, as buyers resisted buying spot propylene due to uncertainty surrounding downstream products. The ICE September Brent crude oils futures rose $2.33-3.50/b to $107.89-120.50/b at 0830 GMT Asian closing on July 28. A Chinese producer stated...

September is the peak sea...

- September is the peak season- DCE futures up Yuan177-200/mt On July 28, Asian mono ethylene glycol prices rose slightly due to stronger futures. MEG futures settled on the Dalian Commodity Exchange at Yuan 177-200/mt at Yuan 4353-4400/mt ex–tank for September delivery goods. According to a market source, bids rose for September arrival cargoes or late August cargoes because...

Fanavaran plant running a...

- Fanavaran plant running at 90%, Kimiaye at 50%- Indian ex-tank at Rupees 24,.50-24.75/kg On July 28, Chinese methanol futures rose Yuan119-140/mt due to bullish crude oil prices and unsubstantiated talk about unplanned methanol plant failures in Iran. Many market sources believe that the Asian methanol market is at its bottom as methanol producers around the world consider cuttin...

Participants prefer float...

- Participants prefer floating-basis discussions in the midst of volatility- September demand is seen as bullish Sources said that there were few spot offers available on the Asian ethylene market, which led to a lot of activity on July 28. Many participants preferred to discuss spot cargoes floating in the light of the upstream volatility as well as persistent weakness in downstr...

Lotte Chemical Titan issu...

- Lotte Chemical Titan issues term tender to PTT, and another party- Plenty of supply on the Indian market: source Sources said that Asian toluene prices increased on July 28 in line with the rest of the energy sector amid thin spot discussions. Based on buying indications at $945-970/mt and a selling indication at $965-980/mt for both H2 August clay cans and H1 September cla...

The region has a lot of d...

- The region has a lot of demand resurfacing.- ENEOS Corp. has nominated August CP at $1160-1200/mt According to sources, the Asian benzene market saw prices rise on July 28 in a similar fashion to oil prices, which were rising, and there was a growing demand. The front-month ICE Brent crude oil futures rose to $107.89-120.50/barrel at 0830 GMT on July 28, which was higher tha...

Asian producers nominate...

- Asian producers nominate August ACP around $1,180-$1,260/mt- China’s Yisheng reduces PTA operations in Dalian Asian paraxylene rose $18-23/mt to $1.143.2.500/mt CFRUnv1/China on July 28 and to $1.123-2.500/mt FBO Korea on July 28, in keeping with the uptrends in both the energy complex and feedstock naphtha. C+F Japan naphtha gained $21.625-27.500/mt, while September ICE Brent cr...

China's H1/H2 Aug/H1 Sep...

- China's H1/H2 Aug/H1 Sep backwardation flattens- Weak demand in Asia has slowed down discussions Asian spot styrene monomer prices rose $30-35/mt to $1,177.50-1,200.50/mt CFR China. The China domestic price was lower Yuan 130-180/mt, at Yuan 10,110-10,300/mt exp-tank. This equates to $1,284.46-1,300.50/mt based on import-parity July 28. The domestic market's prompt delivery...

East China MX inventory d...

- East China MX inventory drops to below 30,000 mt- August September flips to contango Asian isomer-grade mixed xylene rose $19-24/mt on the day at $1.016-2.500/mt FOB Korea, and at $1.019-2.500/mt CFR Unv1. On the back of another solid day in the upstream markets, $1,016-1,050/mt China on July 28, and $1,016-1,050/mt China on July 28, September ICE Brent crude oil futures rose 2.3...

Flat prices fall with Sep...

- Flat prices fall with September's RBOB- August gasoline prices rise, September falls US Gulf Coast spot MTBE flat price fell to 378.09c/gal FOB USG July 28. This was based on a narrowing premium and steeply backwardated front-month gasoline futures. Based on market feedback, the premium to September RBOB was 67.91c/gal. It was narrower by 1 cent per day. August RBOB closed hi...

Benzene prices remain ste...

- Benzene prices remain steady as the contract window closes- Styrene drops as downstream demand remains low European benzene prices remained steady on July 28th, with an increase in trading activity from the previous day. The forward delivery period of five to thirty days can be estimated at $1,130-1,150/mt CIF/ARA. This is consistent with August's latest trade. Since July 2...

MTBE premium Stable at $4...

- MTBE premium Stable at $471-500/mt- The gasoline-naphtha spread reaches $304.75-320.50/mt Spot European methyl tertiary ether spot prices fell on July 28 in line with gasoline in a weak spot MTBE market. The European MTBE price dropped $1.50-2.50/mt between July 27 and $1,515-1,540/mt FOB ARA. This was in line with a slightly lower front-month gasoline swap, but there were no chan...

Exports are still being h...

- Exports are still being hampered by logistical problems- Homebuilder DR Horton slows construction The spot US export polyvinylchloride prices were unchanged for the week of July 27 based on stable pricing indicators as market participants wait for August offers. Prices were set at $1,020-$1,030/mt FAS Houston. The base range for the assessment is $1,000-$1,010/mtFAS. An...

Flat domestic prices, cou...

- Flat domestic prices, could be under pressure from high upstream PX prices- Seasonally strong demand Spot import polyethylene Terephthalate prices in the USA were unchanged week-on-week July 27, at $2,116-$2,138/mt (96 to97 cents/lb). DDP US West Coast was based on stable pricing indicators. Domestic PET prices were also flat week-on-week in formula-based pricing as well as...

Contract prices drop 2 ce...

- Contract prices drop 2 cents/lb amid lower indications- June total sales almost unchanged from May: ACC The US Gulf Coast spot propylene levels remained steady during week 27 of July, despite the minimal market activity and low demand. However, upstream propylene monomer levels rose during the week. The US export homopolymer injection grade PP was unchanged week-on-week at $...

America receives more off...

- America receives more offers- Styrene market weaker The US acrylonitrile-butadiene-styrene assessment was 11.5 cents/lb higher on the week as sources reported receiving higher offers. Spot ABS was valued at 130-132/cents/lb on July 27. ABS was assessed at 119-122 cents/lb on July 19. Pricing for domestic US trucks and railcars was discussed below the 140c/lb l...

Expected quieter interest...

- Expected quieter interest rates in the next months- The upstream costs and competition from Asia are putting pressure on producers In spite of the continuing seasonally quieter summer holidays and uncertainty over the economic outlook, buying interest in the European spot acrylonitrile styrene marketplace remained low in the week to 7/27. One producer expects that demand wil...

Lower import requirements...

- Lower import requirements due to weaker domestic China prices- A high inventory decreases the operation rate Asian polystyrene market prices dropped by $10-40/mt over the week of July 27th, due to lower upstream styrene monomer prices and weak downstream demand. Due to volatile upstream SM price movements, downstream PS trade volume remained low. Sources suggested that...

Weaker China supply price...

- Weaker China supply prices- Sources expect demand to rebound in September Asian Acrylonitrile-butadiene-styrene prices were assessed down by $10-15/mt on the week at $1,500-1,530/mt CFR China and lowered by $10-15/mt at $1,550-1,580/mt CFR Southeast Asia on July 27. The international market heard the offer steady at $1520-$1,530/mt China for forwarding August arrivals while t...

COVID-19 Concerns remain...

- COVID-19 Concerns remain even though China's domestic price rebound- South Asia prices drop as South Asia's suppliers offer lower prices The week ended July 27, saw a sharp drop in prices on the Asian polypropylene markets for overseas trade. This was due to bearish sentiment around the world. Sources indicated that there was an increase in buyers for imported PP, as prices...

PET chips in bottles offe...

- PET chips in bottles offer stable- The fiber grade and polyester yarn offer rises on upstream increases The week ended July 27th was a rangebound week in Asia's PET markets. Demand and supply fundamentals were stable, so discussions were limited. Sellers in the PET bottle market noted that there was a steady stream of inquiries about September loading cargoes. They also stat...

Sources discuss the effec...

- Sources discuss the effects of styrene spot price falls- Spot Polystyrene Illiquid Despite Massive Discounts European polystyrene market participants were waiting for July 27th to end. They expected a significant decrease in pricing due to the sliding spot price of upstream feedstocks in July. The prices of upstream feedstock styrene monomers have dropped significantly during...

Participants buying hand...

- Participants buying hand to mouth- Some producers begin production rate reductions Despite sellers claiming a slight improvement in demand since June, the European polypropylene market saw a prolonged supply week ending July 27. One producer stated that "not much has changed" from the previous week. We are seeing more orders than we were in June, and July is slightly be...

High stocks, healthy supp...

- High stocks, healthy supply amid imports- Logistical delays caused by full warehouses and shortages of truck drivers The European linear-low-density polyethylene market was quiet in the week ended July 27, as buyers remained on the sidelines due to subdued demand. The week ended with stable prices as buyers looked forward to August in anticipation that further price drops wou...

Producers remain under pr...

- Producers remain under pressure- European ECP settled down Eur95-97/mt in Spot prices for virgin polyethylene terephthalate in Northwest Europe rose in the week to July 27 despite market fundamentals remaining unchanged. Spot prices in the UK remained stable, however. According to sources, many consumers will be closing down for the summer holidays in the coming weeks....

Lifters suggest Jul Saudi...

- Lifters suggest Jul Saudi term CP to propane and butane at $690-710/mt- Aug Sep CP propane swap contango shrinks to $4-5/mt The July Saudi propane CP Swap was valued at $717-730/mt on June 27, up $1-2/mt over the previous session and $33-38/mt lower than June term CPs. Lifters recommended that propane and butane prices be kept between $690-720/mt to $710-730/mt ahead of Saudi Ar...

July unchanged | Offer h...

- July unchanged- Offer heard at 109 cents/gal Due to low trading activity, US Gulf Coast spot Methanol was stable on June 27. According to one source, activity was low after an industry event that took place in June. July methanol was unchanged at 101 cents per gall FOB USG. An offer at 109 cents per gall FOB ITC was made.

The steep backwardation o...

- The steep backwardation of the benzene forward curve is retained- Styrene arbitration with Europe remains closed on paper The US July DDP-benzene price rose by 45.50c/gal from June 27 to 650c/gal, despite continued support for the prompt month. WTI crude futures rose $1.95-2.50/b to $109.57-130.50/b on June 27, an increase of 1.81%. Benzene rose 7.53%. The ratio o...

Market for forward-month...

- Market for forward-month selling/buying- Choctaw at parity in front/forward months Spot market US ethylene prices were steady to begin the week on June 27th, with EPC and Choctaw remaining unchanged. June spot EPC ethylene was steady at 26 cents/lb FD Mont Belvieu on the day. In the last week of June, the market was focused on front-month activity. Based on a tight J...

Market calm ahead of the...

- Market calm ahead of the holiday weekend- EIA data delay continues Spot prices of nitration-grade toluene (MGT) and mixed xylenes dropped on June 27, in line with lower blend values and falling gasoline prices. July NGT and August MX were 595.00 cents/gal FOB USAG. Each was 13.50 cents lower on that day. The assessment was adjusted to blend values in the absence of new indi...

Asia Naphtha Demand Retur...

- Asia Naphtha Demand Returns- European refinery update Sources said that the European naphtha market was experiencing some support due to tentative signs of an increase in demand from Asia on June 27. Sources said that the recent strength was largely Eastern-led. According to a market source, the Korean strike was over, giving the market more confidence. He also said tha...

Asia markets are quiet du...

- Asia markets are quiet due to tepid demand- Last week, the paper market flipped into backwardation On June 27, the Asian naphtha market was quiet with very little trading activity due to tepid demand. According to tender results, Formosa concluded its term tender at $5-6/mt below the Mean Japanese assessments. Kuwait Petrochemical Corporation concluded its sell tender at $25-...

Discussion | A new capac...

- Discussion- A new capacity is due to be started up in H2 Asian butadiene prices remained stable in thin trade on 26 June. The discussion remained limited due to limited spot availability, lower steam cracker operations, and declining demand. China's domestic market was stable after the previous session. It was assessed at Yuan 10,800-10,900/mt on June 27. This equates to $1,...

92 Ron up 1.2%; crude hig...

- 92 Ron up 1.2%; crude higher by 2.5% on day- Asia to-US/ARA MTBBE Arbitrage remains open Asian FOB Singapore MTBE surged $45-50/mt to $1,371-1,400/mt in the morning. This was due to active buying interest and firmer crude oil and gasoline markets. The 92 RON gasoline rose 1.19% to $148.56-170.50/b. Meanwhile, the front-month ICE Brent crude oil futures were up 2.53% to $113.4...

Trading remains thin | L...

- Trading remains thin- Lotte Chemical plans to make Yeosu steam cracker run at its full rate by July The CFR China propylene market held its ground on June 27 after a four-day decline in trading. The August ICE Brent crude oil futures rose $2.8-3.5/b to $113.40-130.50/b after the previous session, but this did not help the market. A propylene trader from China stated that...

Brent rises $2.8-3.50/b...

- Brent rises $2.8-3.50/b- DCE down Yuan68-80/mt on the day Prices of Asian mono ethylene glycol were stable on June 27, amid quiet discussions. On the Dalian Commodity Exchange, September MEG futures were active and fell Yuan 68-80/mt to Yuan 4,485-4,600/mt. Ex-tank August ICE Brent crude oil futures increased $2.8-3.5b to $113.4-130.50/b by the 0830 GMT Asian closing on...

Domestic price increases...

- Domestic price increases Yuan 40-60/mt ex tank- Methanol prices are still under pressure in India On June 27, the Asian methanol market was stable as buyers resisted spot purchases in anticipation of clearer market direction. The Yuan 40-60/mt local price in east China rose to Yuan 2,550-22,700/mt Ex-Tank June on the same day, a slight recovery from the Yuan 105-155/mt plung...

H2 July buying Interest t...

- H2 July buying Interest tepid- Limited Offers Participants were in wait-and-watch mode as a result of bearish downstream sentiment. The Asian ethylene markets weren't much discussed on June 27. Participants said that there were few offers and that buyers were scarce due to weak demand for H2 July. According to a source familiar with the matter, PTT Global Chemical, Thail...

Rising domestic prices in...

- Rising domestic prices in India and China- The demand from Southeast Asia is low On June 27, Asian toluene prices rose largely in line with gains in crude oil. Trading sources indicated that Asia's mismatched demand and supply fundamentals will likely lead to firmer prices in Northeast Asia, and lower prices in Southeast Asia, and South Asia, this week. Buyers from South Kor...

Sinopec reduces the listi...

- Sinopec reduces the listing price by Yuan 200-250/mt- China's domestic prices rise Yuan 135-185/mt Asian benzene prices rose $26-32/mt on June 27, to $1,254-1,280/mt FOB Korea. Buyers bid higher. In the morning trading session, the bid was set at $1250-1280/mt for August cargoes. The September cargo was offered at $1,217-1,250/mt. The offer for August cargo was $1,251-1,2...

PXX-MX spread flips to ne...

- PXX-MX spread flips to negative- China’s Sanfangxiang restarts the PTA plant Asian paraxylene saw pricing support from rallies in the energy sector on June 27, but short-term bullishness remains on tight supply. Paraxylene rose $17-23/mt between June 24 and $1,266.83-1,280.50/mt CFR Unv1/China, and $1,246.83-1,280.50/mt FBO Korea June 27. August ICE Brent crude oil futur...

China’s Hengli closed dow...

- China’s Hengli closed down the SM unit to maintain- China's export market is still active Asian spot styrene monomer prices rose by $28-34/mt to $1,328.5-1,355.50/mt CFR China marker. The China domestic price, however, was up Yuan190-250/mt at Yuan 10,485-10,600/mt exp-tank. This equates to $1,360.78-1,390.55/mt if you use import-parity. Higher upstream prices and tighter loc...

Rising crude support MX...

- Rising crude support MX- US Demand Fails amid Long Shipping Time Asian isomer-grade mixed xylene rose $24-30/mt between June 24 and $1,273-1,300/mt FOB Korea, and $1,223-1,250/mt CFR Unv1. It was also up $5.50-6.50/mt on June 27 at $1,089-1,120/mt China CFR China, on the back of firm upstream prices, and support from Asian demand, sources stated. August ICE Brent crude oil fu...

Market calm ahead of the...

- Market calm ahead of the holiday weekend- The difference in backwardation between July and August is slightly Spot MTBE prices in the US Gulf Coast fell 4.18 cents to 464.57c/gal FOB USG on June 27. The MTBE premium over gasoline was the same at 90.58c/gal. There were no trades, bids, or offers in the Market during the Close assessment process. NYMEX August RBOB was sett...

Contract settlement liqui...

- Contract settlement liquidity low- Styrene margin turns negative On June 27, activity in the European benzene markets was muted. This was following a French industry conference that took place in Marseilles the week before. The market saw little trading activity as the trading window opened for the July contract price settlement. This is a five-day period that takes plac...

MTBE Premium remains stab...

- MTBE Premium remains stable at $612-630/mt- is strengthened by gasoline-naphtha. Spot European methyl tertiary ether prices began the week on a strong note, on June 27, in keeping with firmer crude oil and gasoline. However, the MTBE market remained muted. European MTBE was valued at $1,920.75-1,950.50/mt FOB ARA. This is an increase of $14.50-20.55/mt on the previous da...

Spot track Asia and Europ...

- Spot track Asia and Europe trends- Global bearish sentiments The US spot acrylonitrile price continued to fall over the week of July 26. This was in line with global price drops in both the CFE FE Asia and CIF ARA markets. Due to muted trading discussions, US spot ACN prices were $40-45/mt lower this week at $1640-1680/mt FOB USGC. According to one source, demand for th...

Weak demand foundations...

- Weak demand foundations- Participants note uncertain market landscape In the week ending July 26, the bearish sentiment was evident in the European Acrylonitrile Market. There was uncertainty. One trader stated that the market was "very, very weak." After a July decrease in run rates by European producers, the market saw limited spot demand and plenty of material. ...

South Korea's Taekwang re...

- South Korea's Taekwang reduces the ACN plant rate to 75% in July despite weak margins- Unv1's CPDC closes 120,000 mt/yr ACN Line on July 20, amid weak demand As a result of continued pressure from downstream demand, Asia's acrylonitrile marker fell week-on-week on July 26. As they sought to reduce their margins in the face of a glut of ACN production and the weak downstream...

Limited spot availability...

- Limited spot availability- Indian demand remains dull, inventories high In the week ended July 26, Asian phenol and Asian acetone markets were mixed as many trading participants left the market due to low demand and high feedstock costs. Despite low downstream demand and high feedstock costs, many producers in Northeast Asia kept their runs lower. A market source in Sou...

Spot Export Phenol set to...

- Spot Export Phenol set to Weaken with August Benzene Contract- IPA falls on "tepid demand": source ACETONE: US spot Acetone was steady at $910-930/mt (41.28c/lb) FOB USG July 26. Based on pricing indications that range from $900-920/mt. Domestic acetone contract assessments for truck and rail cars were down 4.25 cents/lb over the week to 43.50 cents/lb (959/mt), where sourc...

Phenol premium increased...

- Phenol premium increased by Eur10-12/mt- IPA and MEK demand remains weak ACETONE/PHENOL - The European Acetone spot price was Eur850-860/mt. FD Northwest Europe July 26th, unchanged from July 19. This is consistent with indications at this level from three producers. A distributor at Eur700-720s/mt has not yet provided an FCA NWE indicative value. Eur880-Eur900/mt was also...

Despite ongoing Force Maj...

- Despite ongoing Force Majeure, supply remains tight- Domestic spot deal confirmed at $810-830/DST ex-plant Spot export caustic soda prices in the USA were flat during the week of July 26. This was due to stable pricing indicators amid limited supply and low market activity. Prices were estimated at $785-$805/dmt FOB USG. An $810 domestic spot caustic soda deal was confir...

M1 Aug Propane CP Swap $4...

- M1 Aug Propane CP Swap $43-48/mt Below July Term CPs- Aug Sep CP Swaps Backwardation Reduced to 50 Cents/mt The month-one August Saudi Aramco propane contract price Swap was valued July 26th at $682-700/mt. This was down $4-5/mt and $43-48/mt lower than the July term CPs. The August-September CP Swaps Market Structure was valued at a backwardation 50 cents/mt. This is a decre...

Asia LPG Prices rebound b...

- Asia LPG Prices rebound but Brent loses in a quieter market- Aug FEI Propane Swap Discount to MOPJ Naphtha Widens to $50-55/mt Asia LPG prices rebounded on July 26 but fell short of the $29.28-35.03/mt jump recorded in September ICE Brent crude oil futures, due to thin market activity. H2 August CFR North Asia propane rose $4-5/mt to $711.5-730.50/mt, on July 26. The pr...

US Prices Stable on the D...

- US Prices Stable on the Day- is a stronger global methanol market The US spot market for methanol was quiet on July 26, due to a lack of discussions. There were no offers, bids, or trades reported on that day. Spot prices for July and June remained unchanged. Based on previous indications, June spot methanol was unchanged at 114c/gal FOB USG. July spot methan...

Benzene's forward outlook...

- Benzene's forward outlook bearish- Styrene operating costs could drop in August: source US July DDP-benzene rose 4 cents/gal to 489c/gal on July 26, despite weak upstream crude futures. The forward curve was also becoming more bearish as the prompt market continued to see a tight supply. WTI crude oil futures dropped $1.72-2.50/bl to $94.98-100.50/bl on July 26, a decrease of...

July EPC/Choctaw Ethylene...

- July EPC/Choctaw Ethylene remains stable- Day saw low buying interest The US spot market indicators for ethylene continued to be weak despite a slight increase in EPC and Choctaw prices. July EPC ethylene was steady at 25.25 Cents/lb Fd Mont Belvieu. This was due to the use of last-known market indications, despite a lack in July reports. August EPC ethylene saw a 0....

The bids keep rising, but...

- The bids keep rising, but there are no deals.- September gasoline backwardation increases in August and September Due to increased market activity, US Gulf nitration grade toluenes and mixed xylenes edged up on July 26. July nitration grade toluene was valued at 436c/gal, an increase of 7 cents. July MX was valued at 441c/gal FOB USG. This is an 8-cent increase.&nbs...

China’s Sinopec reduces l...

- China’s Sinopec reduces local prices by Yuan 200-250/mt- June: Global natural rubber production rises by 4% According to market sources, Asian butadiene was rated stable on July 26, but sentiment turned bearish because China's Sinopec continued to reduce its local list prices, dropping Yuan 200-250/mt from the day before to Yuan 9,700-9,800/mt today, or $1,247-1,280/mt if you con...

Singapore MTBE Imports fr...

- Singapore MTBE Imports from Unv1 Drop in Jun- Gasoline 92 RON crack strengthens 152.90% Asian FOB Singapore MTBE surged $86-92/mt to $1,083-1,120/mt the day after July 26, fueled by a surging gasoline price and an energy complex. The 92 RON gasoline prices jumped 8.56% a day on the day to $114.62-130.50/b. Meanwhile, the front-month ICE Brent crude oil futures contract jumpe...

East China propylene decl...

- East China propylene declines Yuan 50-80/mt- No. 2 steam crackers for more than 2 weeks of maintenance The propylene market was stable on July 26, despite thin trading, as Chinese buyers were cautious in acquiring spot imports. The ICE September Brent crude oils futures rose $4.3-5.50/b to $106.78-120.50/b at 0830 GMT Asian closing on July 26. However, this did not help...

Brent rises $4.3/b on day...

- Brent rises $4.3/b on day- Lotte Chemical keeps the MEG unit closed On July 26, Asian mono ethylene glycol prices remained stable due to thin trade. The September ICE Brent crude oil futures increased $4.3-5.40/b to $106.78-120.50/b by 0830 GMT Asian closing on July 26. According to a source, Lotte Chemical, South Korea, has closed its No.1 300,000. mt/year mono-ethylen...

September Methanol ZCE up...

- September Methanol ZCE up Yuan54-80/mt on Day- Zagros restarts No. 1 methanol plant On July 26, the outlook for China's methanol market was slightly bullish. Crude oil futures rose due to tight Russian gas supplies to Europe. However, spot cargoes in dollars were scarce and prices were stable. According to market sources, domestic methanol prices on China's east coast ro...

September indicators high...

- September indicators higher despite further cracker run-rate cuts- No. 2 Naphtha steam cracker for maintenance The availability of limited supplies meant that discussions in the Asian Ethylene market were sluggish on July 26. According to market sources, September buying and selling indicators were higher than August due to increased cracker operating rates. However, th...

The Backwardated Market S...

- The Backwardated Market Structure remains- Discussions sparse on limited buying interest Asian toluene prices rose on July 26 due to the rebound of crude, naphtha, and downstream prices. Trading sources stated that there was very little spot activity due to the volatility of crude futures. Sources said that the market was still in decline despite a pessimistic outlook ov...

China buying interests to...

- China buying interests to rebound- Benzene Naphtha's physical spread narrows While the Asian benzene market rose in response to the recent rebound in oil prices, earlier bearish sentiment appeared to have slowed slightly. Sources said that trades on the CFR China basis were discussed in the market. August arrival cargoes were inked around a cash differential of $30-35s/mt to...

September/October backwar...

- September/October backwardation increases- After maintenance, Unv1's FCFC relaunches the PTA line. As market sentiment improved, the Asian paraxylene CFR China marker rose $37.34-43.50/mt to $1,121.67-1,150.50/mt on July 26. This was due to an increase in downstream purified Terephthalic Acid futures in China. The September PTA futures on Zhengzhou Commodity Exchange increas...

Flattening backwardation...

- Flattening backwardation in China- Styrene rises with rising oil prices Asian spot styrene monomer prices rose $47.50-53.50/mt to $1,152.50-1,180.25/mt CFR China. The China domestic price was higher at Yuan190-250/mt at Yuan 9,900-10,500/mt exp-tank. This equates to $1,272.81-1,300.50/mt based on import-parity July 26. China's domestic market was more stable, with the prompt...

PX rises $37.34-43.50/mt...

- PX rises $37.34-43.50/mt- China demands that firms Asian isomer-grade mixed xylene rose $34.50-40.50/mt on day to $991-1020/mtFOB Korea. It also increased $37.50-43.60/mt at $994-1012/mt CRU Unv1 and rose $28.50-35.50/mt/mt/mt CFR China on July 26 due to a sharp rise in upstream oil prices. September ICE Brent crude oil futures increased $4.30-5.0/barrel on a day to $106.78/b...

September and August gaso...

- September and August gasoline backwardation at more than 27 cents/gal- Crude futures drop in US Gulf Coast spot Flat prices for MTBE fell to 378.37c/gal FOB USAG on July 26, based on a trade made during the Market on Close process. ATMI sold 25,000 barrels of MTBE to LyondellBasell for 377.00c/gal between July 31 and August 4. September RBOB was 306.81c/gal at the time....

Styrene spot follows bear...

- Styrene spot follows bearish benzene trend- Both markets offer large discounts on the July contract European benzene prices fell on July 26 as the month ended. Final July dates were removed from the lay can. Based on the backwardation of July and August, the five- to 30-day forward delivery can for benzene was $1,130.75-1,150.50/mt CIF AR. This is $1-2/mt lower than the previ...

MTBE premium Stable at $4...

- MTBE premium Stable at $462.75-480.50/mt- The gasoline-naphtha spread reaches $294.50-320.50/mt Spot prices for European methyl tertiary ether fell on July 26, in line with lower gasoline prices and unchanged market fundamentals. European MTBE price outright was down $1.75-2.50/mt during the day to $1,495.50-1,530.50/mt FOB ARA. The premium for the Eurobob swap was stab...

Asian MMA/PMMA - MMA fall...

Asian MMA/PMMA - MMA falls because of tepid buyer sentiment- South Korea's June MMA Exports fell 93% in the month and 89% over the year- Lotte Chemical increases runs after scheduled maintenanceThe Asian methyl methacrylate CFR China marker was $28-33/ mt lower on July 20 at $1,694-1,730/mt. This was due to a decline in the Chinese domestic market. The CFR Southeast Asia MMA marker was d...

Asian Recycled PET Prices...

Asian Recycled PET Prices: While processing costs rise, prices remain stable.- Rising conversion costs due to tight feedstock- Nonpremium RPET may be less in demand than soft virgin pricesAlthough Asian recycled polyethylene Terephthalate prices were unchanged from the week ending July 20, high processing costs continue to erode producer margins. The tight supply of premium-grade RPE...

Asian PET - Fundamentals...

Asian PET - Fundamentals remain the same, but offer less on upstream falls- Bottle-grade PET demand-supply unchanged- Polyester yarn and fiber grade weakIn the week ending July 20, demand for PET chips in bottle form was steady. Some producers claimed that they had sold out of August-loading cargoes so they started offering September- and October-loading shipments. As inventory levels we...

Asian PTA: Prices rise af...

Asian PTA: Prices rise after prolonged losses- PTA Prices to Stabilize- Polyester yarn and fiber grade weakAsian purified Terephthalic Acid rose from $46-50/mt in a week to $810-840/mt CFR China on Jul 22. Prices rebounded early in the week and later in that week, following higher crude and PX oil prices. CFR Taiwan/China's PX indicator rose $57.41-62.50/mt weekly to $1,078.33-1,100.50/mt...

Asian ABS: $30-35/mt drop...

Asian ABS: $30-35/mt drop on the week of muted inquiry- A lower offer level was observed with limited buying- ABS margin remains negativeAsian acrylonitrile-butadiene-styrene prices were assessed down $30-35/mt on the week at $1,510-1,540/mt CFR China and at $1,560-1,590/mt CFR Southeast Asia on the week to July 20. Due to the low demand for Asian ABS in Asia, the week of July 14-20 was we...

Asian PS: Drops $30-$40/m...

Asian PS: Drops $30-$40/mt on weak upstream, poor demand- Weaker China domestic markets- Lowering upstream costsThe Asian polystyrene market prices fell $30-40/mt during the week ending July 20, due to lower upstream styrene monomer prices and a pessimistic sentiment downstream. Following the SM market, Asian PS offers trended downward. High-impact PS offers were heard between $1,450...

AsianPP: China prices fal...

AsianPP: China prices fall as Southeast Asia falls- China's prices drop despite a limited recovery in the earlier part of the week- South Korea, Middle East cargoes race for the bottom in SoutheastAsia The Asian polypropylene market prices fell once again due to poor Chinese demand driving prices lower in neighboring regions. The week ended at Yuan 8,050-8,500/mt, East China's prompt dom...

Asian Recycled HPPE: Stab...

Asian Recycled HPPE: Stable in thin trade- Rising electricity prices will cause production costs to rise- Difficulty finding a shippingSources said that the Asian recycled high-density polyethylene prices were stable in thin trades on July 20. Recycled material with GRS or ISCC plus certification was sold at Yuan 10,000/mt-11,000/mt, ex-works. However, the material without certification wa...

Asia HDPE: Fallen on weak...

Asia HDPE: Fallen on weak demand- Inflation dampens consumption- South Asia has a low demand due to the monsoonsAccording to market sources, Asian high-density plastic ethylene prices dropped in the week ending July 20, due to weak demand. Due to economic weakness and extreme weather that can affect logistics and utility costs as well as volatile upstream oil prices, converters were reluc...

Asia LLDPE Prices Drop on...

Asia LLDPE Prices Drop on Tepid Demand- Yearly low prices- Falling demand due to rising interest rates and strong US dollarsSources said that Asian linear low-density polyethylene (LDPE) was less expensive in the week ending July 20, due to a historically weak demand season. Due to low demand and high crude costs, PE prices are at their lowest level in a year. Sources claim tha...

Asia recycled LDPE prices...

Asia recycled LDPE prices stable during thin trade- Trade is difficult due to undersupply of recycled PE film- No common quality standards dampen tradeThe week ended July 20, with little trading, saw Asian recycled low-density polyethylene prices remain stable. Traders hoped that the resumption of tourism and an easing of COVID-19 restrictions would result in a greater supply of recyc...

Asia: Low demand | Infla...

Asia: Low demand- Inflation dampens demand- India has a weak demand due to monsoonsIn the week ending July 20, Asian low-density plastic ethylene prices were lower due to weak demand, uncertain economic outlook, and lower pricing. According to market sources, rising interest rates in Asia and rising inflationary pressures could impact PE consumption and reduce spending power. However...

Asian PVC: Plunges $80-$1...

Asian PVC: Plunges $80-$150/mt on bearish demand- August Specials: $190-$230/mt for the month- Japan's June PVC production reaches a 4-year lowDue to bearish demand in China, Asian polyvinylchloride prices dropped $80-$150/mt over the week of July 20. CFR China PVC prices fell $80-100/mt over the week. They were assessed at $900-920/mt on July 20. This is the lowest level since September 2...

Asian Butadiene - FOB Kor...

Asian Butadiene - FOB Korea marker down 40/mt due to bearish fundamentals- Imports are being carefully considered by buyers- Sellers prefer to sell on a floating basisAsian butadiene fell $40-45/mt on July 22, due to a weaker downstream market and a bearish economic outlook. As downstream buyers cut their operations, there was a lack of demand for butadiene. A major South Korean...

Asian Propylene is Stable...

Asian Propylene is Stable As Buyers Hold Back- Shandong propylene down Yuan100-150/mt- Taiwan's CPC lowers the No. In the face of weak demand, 4 naphtha steam cracker rates drop to 80%On July 22, the CFR China propylene market was stable as buyers continued to wait for clearer market direction. A Korean propylene producer said that PP was so bad, that he didn't want to imagine the wor...

Asia MEG - Stable in the...

Asia MEG - Stable in the prevailing discussions- MEGlobal nominates Asia contract price at $820-850/mt- Trade remains weak amid weak demandDue to prevailing price negotiations, Asian mono ethylene glycol prices remained stable on July 22. The September ICE Brent crude oil futures rose $0.17-1.50/b to $103.90-120.50/b by 0830 GMT Asian time on July 22. According to market sources, Chin...

Asian Ethylene: September...

Asian Ethylene: September sentiment was improving- Asian naphtha - Steam crackers to lower run rates in August- PrefChem shuts down steam cracker plant to dampen sentiment in the AsianThe low operating rates of derivative facilities meant that spot August shipments were still in decline, especially in the polyethylene, Ethanol, and Styrene monomer segments. This led to bearish sentiment in eth...

Asian MTBBE: Drops $27-32...

Asian MTBBE: Drops $27-32 to a 5-month low- The first time since June 2020, 92 RON cracks into negative territory.- is a tighter supply in lower runs.MTBE factor higher Asian MTBE FOB Singapore marker extended loss, falling $27-32/mt daily to a near 5-month low of $1,000-1,040/mt. The last time the marker was lower, it was at $990-1020/mt on February 23, 2022. This week has...

Asian Methanol: Market en...

Asian Methanol: Market ends mix amid varying fundamentals- An increase in trading activity in China and Taiwan- Southeast Asia Fundamentals- Wide buy-sell gap in the Indian marketThe Asian methanol markets closed the trading week steady to slightly firmer on July 22, with an increase in trading activity in China and Taiwan. India was lower due to bearish sentiment. China saw a tra...

Asian Caprolactam - Discu...

Asian Caprolactam - Discussions are tepid as slow demand continues- Benzene feedstock prices fall- The nylon demand remains low Participants in theJuly 21 was a day when Asian caprolactam markets discussed the continued weakness, which seemed to be unabated for at least the summer. Sources on both the buy-side and sell-side said that caprolactam was likely to rebound during the summer se...

Asian Styrene: Drops $13-...

Asian Styrene: Drops $13-18/mt per day on the weaker Chinese market- Steeper Aug/Sep Backwardation in Domestic China- China's June SM Exports Drop 49.2% Compared to the MonthSpot styrene monomer prices in Asia were down $13-18/mt to $1,137-1,170/mt CFR China. However, the China domestic price was higher Yuan 30-50,/mt on that day at Yuan 9,610-9,800/mt exp-tank. This equates to $1,234.81-1,25...

Asian Orthoxylene - FOB K...

Asian Orthoxylene - FOB Korea - $60-65/mt; other markets stable- Prices for PA are still under pressure- MX rebounds during the weekAsian orthoxylene was stable week-on-week at $1.050-2.500/mt in China and $1.100-2.500/mt in Southeast Asia. The FOB Korea marker was down $60-65/mt to $1,080-1,120/mt. Bearishness is still prevalent in Asia. According to a trader, although there was some in...

Asian Iso–MX: As fundamen...

Asian Iso–MX: As fundamentals change, flips to contango- US MX Prices tumbled during the week- China's June imports of MX are down 27% compared to the previous monthAsian isomer-grade mixed xylene rose by $28-34/mt to $947-980/mt FOB Korea. It was up $34-40/mt to $947-980/mt CFR Taiwan. However, it was down $7.50/mt in the same time period at $967.50-1000.50/mt CRC China on July 22. The...

Asian paraxylene continue...

Asian paraxylene continues to be in strong demand- PX naphtha spread returns to $300-320/mt- China's imports of PX fell to 712720 mt during JuneAsian paraxylene prices rose $31-35/mt to $1,078.33-1,100.50/mt CFR Taiwan/China on July 22 and $1,058.33-1,100.50/mt FBO Korea on July 22, erasing the losses at the beginning of the week. After hitting a multimonth low of $262.83-280.50/mt on July...

Asian Solvent MX Weekly C...

Asian Solvent MX Weekly Comments- Asia continues to see a weak demand- ICE Sep Brent crude oil rises $4.89-5.50/b in weekThe Asian solvent mixed xylenes prices were under pressure in the week ending July 22, due to weak demand and limited activity across the Asia-Pacific region. I last heard an offer at $850-880/mt FOB Korea on Aug. 11-31, with no trades. A source said that the...

Asian Toluene: Falls $3-4...

Asian Toluene: Falls $3-4/mt amid lower domestic China market- China's Toluene Exports grew 107.1% in June- India stock levels to increase with incoming suppliesDue to lower domestic China prices, Asian toluene prices fell $3-4/mt and were $943-980/mt FOB Korea on July 22. Spot discussions in China were held at Yuan 7,700-7.750/mt to facilitate prompt delivery, Yuan 7,650-7.700/mt H2 July...

Asian Benzene - Fundament...

Asian Benzene - Fundamentals remain bearish- Low demand and a large supply. Prices- Downstream remains lacklusterAs fundamentals remained bearish, the Asian benzene markets ended the week on a calm note. Although demand was very low in Asia, due to the poor economic margins in downstream sectors, some sources indicated that there were a few parcels booked for August to go into China. ...

Incoming months, domestic...

- Incoming months, domestic demand was expected to soften due to rising mortgage interest rates- Jan–Apr PVC Exports Up a Little Year: ITC The US spot export polyvinylchloride prices were unchanged for the week of June 15, despite stable pricing and continuing problems getting packed volumes onto ships for export. Based on the last deal, prices were set at $1620-$1,630/mt FAS Houst...

Prices decline on softer...

- Prices decline on softer indications- Import logistic issues were eased The US import polyethylene Terephthalate price was reduced by 4. Based on lower pricing indications, 5 cents/lb ($99-103/mt). Prices were estimated at $2,183 to$2,205 (99-100c/lb) DDP US West Coast. Prices for domestic PET rail cars were unchanged at 109-110. 5 cents/lb. This price is forgoing...

Canada and Mexico remain...

- Canada and Mexico remain the top export destinations. USITC- The upstream propylene monomer is down 6. 5 cents per week US Gulf Coast spot propylene levels dropped by more than $140 on June 15 amid concerns about lower rail car prices and decreasing upstream propylene monomer prices. The US export homopolymer-injection-grade polypropylene was valued at $144 lower at $2.050...

Styrene slips during the...

- Styrene slips during the period- Butadiene. ACN stable to lower Sources said that the US acrylonitrile-butadiene-styrene assessment continued its downward trend throughout the month due to talk of a healthy supply and lower prices. Spot ABS was evaluated at 136. 5 cents/lb, a decline of 13 cents over the previous week. Sources said that pricing could continue to fall i...

FD NWE spot prices dip |...

- FD NWE spot prices dip- Automotive demand stable at low levels The European acrylonitrile-butadiene-styrene market continued to see weak demand in the week to June 15, leading to a further decrease in FD Northwest Europe spot price levels. In recent weeks, the European market's demand and supply balance has been increasing. It is now longer than ever as the decline in demand fro...

Import market is under pr...

- Import market is under pressure because of lower domestic prices- Feedstock Styrene drops $51-56/mt during the week Asian polystyrene fell $0-$10/mt in the last week due to the declines in the upstream and domestic China markets. CFR China styrene dropped $51-56/mt to $1,424-1,450/mt, with weaker demand in both the export and domestic markets. Polystyrene producers cont...

Interest in buying is mut...

- Interest in buying is muted but offers rise- Lower run rates for producers due to a poor economy Asian Acrylonitrile-butadiene-styrene dipped $5-6/mt on the week at $1,740-1,770/mt CFR China and $1,790-1,820/mt CFR SEA on June 15, amid weakening upstream market and bearish demand. Market fundamentals were stable but producers planned to increase the offer by $30-50/mt due to risin...

Uncertainty returns on th...

-  Uncertainty returns on the Chinese market- South Korea's truckers have ended their strike following a tentative agreement with the government regarding prices  that were mixed on the Asian polypropylene markets on June 15 due to China's pandemic-led curbs that hampered the country's economic recovery. The prompt domestic cargoes of East China fell from Yuan 200/mt to...

Chinese Polyester Plants...

- Chinese Polyester Plants Enter Early Turnarounds for High Inventory- Falling export inquiries due to inflation, slow economy The weak demand and Beijing restrictions that impacted sentiment caused prices to fall in Asian PET markets. Many Chinese polymerization plants entered early turnarounds due to high stock levels and low sales. We have no choice, as the apparel industr...

Slowdowns in the construc...

- Slowdowns in the construction, automotive, and appliance industries- Low inventories can help keep the market liquidity flowing In the European polystyrene markets, there was little support during the week ending June 15. Sources spoke of a sliding demand in key sectors and a lack of liquidity as buyers continued to be scared by high prices. The record-high June prices were cit...

Sources downplay price's...

- Sources downplay price's role in dictating fundamentals- Market length increases due to excess import material In the week ending June 15, spot demand was limited in the European polypropylene markets, despite falling prices. A producer stated that it is all hand-to-mouth buying as it has been over the past few months. Despite prices falling for the third week in succession,...

C4 & C6 are down Eur50-52...

- C4 & C6 are down Eur50-52/mt on the spot market- Limited trading activity during the week Spot activity in the linear low-density polyethylene market was very limited during the week ending June 15. This is due to lower prices and buying interest in June. According to a trader, LLDPE demand in June was "really poor". According to the trader, buyers had made the decision t...

New demand heard improvin...

- New demand heard improving- High feedstock costs for producers Spot prices for European virgin polyethylene Terephthalate rose in the week ending June 15, due to strong demand and rising feedstock costs. According to sources, the demand for virgin PET products is rising due to warmer weather in Southern Europe. However, Northwest European demand should catch up. The supply o...

CP Propane Swap Contango...

- CP Propane Swap Contango Structure narrows- The market awaits Saudi Aramco to accept July term nominations On June 15, the month-one Saudi July propane CP Swap was valued at $690-720/mt, down $12-17/mt and $60-65/mt lower than the June term CP. The July-August CP propane swaps contango decreased by 50c/mt to $12.5-17.5/mt, while the August-September contango narrowed to $2-$5/mt,...

Asia LPG extends fall at...

- Asia LPG extends fall at match level on February 23, 2021- E1 purchases Glencore propane for July delivery Asia LPG prices dropped further on June 15 to their lowest level in 15 months and 24 hours, but not as much as the $20-25. The balanced market activity saw a 24/mt drop in August Brent crude futures prices from the previous Asian close. H1 July CFR North Asia prop...

Prices Stable | Fundamen...

- Prices Stable- Fundamentals steady US spot market participation is still low as there were no trades, bids, or offers reported by market participants. Because there were no direct discussions, spot methanol prices for June and July remained steady at 111 and 110 cents/gal FOB USG, respectively. Sources in the market did not give any indication of why selling and buying senti...

Benzene Imports have been...

- Benzene Imports have been priced out of the market by other aromatics. Source- Styrene restarts as planned, but variable costs are high US June DDP benzene dropped by 15 cents to 681c/gal on June 15, as efforts to cover volumes were halted after high-priced purchases on June 14. Some participants who shorted the prompt market bought volumes up to 765c/gal for July FOB and DDP lo...

Enterprise plans to build...

- Enterprise plans to build a new steam cracker in Beaumont- Domestic PE production has increased in the year The US ethylene price index continued to follow the ethane movement on June 15, with EDC prices increasing slightly on the day despite unchanged fundamentals. Ethane June prices increased by 1. 65.5%, 625cs per day 25 cents/gal. On June 15, a June Choctaw pi...

The MX prices are stable...

- The MX prices are stable- NGT drops 10 cents on the day The US toluene price fell for the second consecutive day due to limited market indicators. However, mixed xylene prices were stable since no trades, bids, or offers were reported on June 15. NGT for July delivery was assessed at 684c/gal FOB USG, 10 cents less than the previous day. Based on a June NGT offering at 6...

Crack moves away from the...

- Crack moves away from the record low- Slow petchemists need Sources said that the Northwest Europe naphtha cargo crack market moved from its record low of June 15 despite gasoline blending demand remaining slow in Europe due to a lack of octane boosts required to add naphtha to the blending pool. Market backwardation was also a factor. The July crack was valued at minus $28...

South Korea's production...

- South Korea's production to return after the end of the labor strike- Malaysia's April natural Rubber Output falls Asian butadiene was stable on June 15, despite fewer price negotiations and volatile upstream markets. There was also uncertainty about South Korea's production status. August ICE Brent futures fell $2.02-3.50/barrel and will be valued at $121.24-140.50/b June 15.&nb...

0.92 RON more 01%; crude...

- 0.92 RON more 01%; crude falls 1. 65% on day- South Korea's logistics bottleneck is eased as the strike ends Asian FOB Singapore MTBE was flat at $1,343-1,380/mt on June 15, with uncertainty about the direction of related markets. 92 RON climbed while crude oil prices declined and 92 RON slipped. The front-month ICE Brent crude oil futures were lower by 1. The day...

The CFR China marker is a...

- The CFR China marker is a subject of bearish sentiment- Propylene run rates may take some time before returning to the normal The propylene market was quiet. Buyers and sellers resisted taking positions, and they waited for a clear direction from the market on June 15. The August ICE Brent crude oils futures were $2 lower. 03/b on the day at $121.24-140.50/b at the clo...

Asia MEG margins remain w...

- Asia MEG margins remain weak- The sellers believe the price is at its bottom As some demand renewed, the monoethylene glycol CFR China price indicator gained $12-17/mt. The August ICE Brent crude oils futures fell $2.03-3.50/b per day to $121.24-140.50/b at 0830 GMT Asian closing on June 15. Producers said that Asian MEG margins were not competitive. After a long price...

September Methanol ZCE co...

- September Methanol ZCE contract Yuan 97-120/mt- China's coast methanol inventories are up 6.38% increase in the week- Indian Bearish Fundamentals Asian methanol fell $6-7/mt to $343-360/mt CFR China, tracking weak futures on Zhengzhou Commodity Exchange mid-afternoon trading. The active-traded September Methanol Futures contract closed Yuan97-120/mt less than the previous se...

Low demand due to a lack...

- Low demand due to a lack of buying urgency- South Korean truck drivers end their strike The fundamentals of the Asian Ethylene market were unaffected by participants' comments on June 15. Participants spoke of low demand and high supply. As buyers stated that they weren't urgently seeking July-arrival cargoes, firm discussions were limited. Some sellers preferred floating c...

China continues to export...

- China continues to export toluene- Indian market balance on incoming supplies Due to thin spot discussions before the rollover of June 16, Asian toluene prices fell on June 15, despite the lower Asian toluene prices. FOB Korea prices dropped $26-32/mt with an offer of $1,265-1,300/mt. The 2000 mt any-July cargo was available from $1,270-1,300/mt to all takers. "Seems li...

China's domestic prices s...

- China's domestic prices slide- S Korea Trucker Strike Ends Asian benzene FOB South Korea increased $1-2/mt on the day to $1,353-1,380. As July bids rose in the late trade, 67/mt FOB South Korea June 15 was a lower price than the previous day. The CFR China market was still assessed at $1,345-1,380/mt. This is due to falling domestic prices. However, it was $10-15/mt lower.&...

July/Aug Structure turns...

- July/Aug Structure turns steady- The PX naphtha spread is below $500-530/mt Asian paraxylene fell $51-57/mt to $1,287-1,300/mt CFR Taiwan/China on June 15, and $1,267-1,300/mt FBO Korea on June 15. This was due to weakness in both downstream and feedstock markets. C+F Japan naphtha dropped $17-22/mt to $791 upstream. 12/mt, pushing the paraxylene/naphtha spread down to $495....

South Korean truckers end...

- South Korean truckers end their strike- The domestic prices continue to fall Asian styrene monomer dropped $17-23/mt on the day to $1.424-2.500/mt CFR China on June 15, and $1.454-2.500/mt FBO Korea on June 15. Market sources stated that there was continued low demand in both domestic and export markets. One trader stated that FOB China's July 1st-half exports were being offered...

FOB Korea weakens, tracki...

- FOB Korea weakens, tracking PX prices- August ICE Brent crude oil down $2.03-3.50/b on day Asian isomer MX prices fell $32-37/mt to $1,299.50-1,340.50/mt FOB Korea, at $1,249.50-1,280.50/mt CFR Taiwan, and $1,123-1,160/mt CFR China Any July offer was last seen at $1,305-1,340/mt FOB Korea at 4:00 pm Singapore time (0800-830 GMT). Sources said that it is normal for MX price...

Bids remain scarce | Gas...

- Bids remain scarce- Gasoline inventories fall despite lower demand Prices of spot MTBE on the US Gulf Coast fell by 28. 00 Cents per gallon on June 15th to 513. 25c/gal FOB USG amid lower gasoline futures and continued declines in offers. The MTBE premium over gasoline has narrowed to 123. Tracking offers in the Market on Close assessment process, 83 cents per gall...

Styrene-benzene spread tu...

- Styrene-benzene spread turns positive- On June 14,  strong demand from the gasoline sector drove up benzene prices Styrene prices rose in the European market on June 15 due to market reaction to feedstock benzene's gain. Although styrene stocks in Europe were reported to be high due to low downstream demand, prices rose in June and July because of upstream benzene. ...

MTBE Premium reaches a ne...

- MTBE Premium reaches a new record at $592.75-620/mt- The gap between the gasoline-naphtha spread and Due to a weaker downstream complex, the spot European methyl Tertiary Butylether price dropped on June 15. European MTBE was valued at $1,897.75-1,930.50/mt FOB AR, down $26.50-31.50/mt was the average price for the day, despite the buying interest during the Market. 1000 mt...

Spot propylene increases...

- Spot propylene increases by 5 cents/lb each week on week- DTP and DINP domestic levels increase with propylene The pricing of US oxo-alcohol was variable on the week of July 21 due to a lack in market activity and buyers waiting for further price drops. Normal butanol export prices dropped $20-25 this week to $2,045-2,055/mt FOB USG. This is based on levels discussed between...

Spot prices for AA/VAM un...

- Spot prices for AA/VAM unchanged during the week- US AA force majeures remain in effect The US Gulf Coast spot export of acetic acid was stable on July 21st at $1,750-1,780/mt FOB USG. This is despite the last known indications that outright trading discussions have remained thin in the face of ongoing force majeures. One market participant answered a question about the thr...

No spot trading today |...

- No spot trading today- USG Methanol Price Exceeds FOB Rotterdam Marker European methanol spot markets remained quiet on July 21, as prices remained stable. The FOB Rotterdam's five to 30-day spot price for methanol was Eur350.25-360.25/mt on July 21. This price was unchanged from July 20. No new trades were made. A source claimed that public holidays in Belgium were aff...

A tighter spot supply sup...

- A tighter spot supply supports the 2-EH market- Korea's Hanwha Solutions will restart the 75,000 mt/year PA Plant on July 24 The 2-ethyl hexanol CFR China indicator gained ground in the week ended July 21. This broke a five-week streak of declines. As a result, production cuts by major Asian producers lend support to the battered markets. Yuan 8,600-8,800/mt was in Shandong,...

China's high AA productio...

- China's high AA production is a major factor- VAM prices fall due to weak downstream demand AA: The fundamentals of the Chinese Acetic Acid Market continued to be marked in high domestic production and low demand for finished goods during the week ending July 21. Many Chinese acetic acid producers had their plants running at over 80%, and very few were offline for maintenanc...

Augloading PVC prices are...

- Augloading PVC prices are higher than anticipated, which is based on feedstock sentiment- Outlook is bearish on excess The sentiment in the Asian vinyl chloride monomer and ethylene dichloride markets was bearish. Most participants pointed to falls in downstream polyvinyl chloride markets. Although a major Northeast Asian producer reduced August-loading PVC shipment offers b...

West Coast India panic se...

- West Coast India panic sells ex-tank stocks- Vessel delays in Iran- China talks muted Indian market sentiment remained bearish as Indian importers panicked and sold ex-tank stocks. There were tentative vessel arrivals for the week beginning July 18th. According to market sources, some Iranian vessels were delayed. CFR India methanol prices were $279-300/mt on July...

Benzene feedstock prices...

- Benzene feedstock prices fall- Nylon Demand remains low Participants at the Asian caprolactam marketplace on July 21 spoke out about the continued weakness, which seemed to be unaffected for the remainder of the summer. Sources on both the buy-side and sell-side said that caprolactam was forecast to rebound in the summer season. However, this trend has lessened. Althoug...

VAM demand weakens | Eno...

- VAM demand weakens- Enough AA availability AA: The European Acetic Acid market was largely stable over the past week, despite the slow activity. The price of AA was Eur1,600-1,620/mt, based on a product that was delivered in Northwest Europe on Jul 21. There is very little liquidity. A distributor stated that "[Acetic Acid] markets remain slow and steady." Accordin...

Market length continues...

- Market length continues- Pricing softening in the PA Market The European oxo alcohol market continued to grow in the week ending July 21. This is consistent with the trends observed throughout the propylene value chains in July. Seasonal pressures and regional pricing differences continue to limit demand in the European phthalic acid market. Market participants noted a...

M1 Aug Propane CP Swap $5...

- M1 Aug Propane CP Swap $52-57/mt Below July term CPs- Aramco Trading offers spot evenly-split cargoes The August-one Saudi Aramco propane contract price Swap was valued at $673-700/mt, down $7-8/mt and $52-57/mt lower than the July term CPs. The August-September CP Swaps contango was unchanged at $1.50-2.50/mt on July 21 while the September-October contango widened from $1-2/mt d...

LPG prices in Asia drop t...

- LPG prices in Asia drop after six days of losses- China's June LNG imports have increased 15.1% compared to the previous month Asia LPG prices dropped further on July 21 to a six-day low. However, it was not as severe as the $17.92-23.50/mt drop in ICE September Brent crude oil futures. This is because demand supported rates. H2 August CFR North Asia propane fell $8-9/mt to...

Low buying sentiment in E...

- Low buying sentiment in Europe, USA- Stable spot prices US spot methanol prices remained stable today amid the absence of market activity. July spot methanol was stable at 112c/gal FOB USG. August was steady at 113c/gal. This kept the July-August contango at one cent/gal. Although trading was not open, one July and one August bid/offers were heard at 112-117c/gal FOB ITC afte...

August will see prompt Ju...

- August will see prompt July benzene tightness start to roll forward- Styrene liquidity shrinks amid upstream volatility and tepid market Due to weakness in upstream energy, US July DDP-benzene dropped by 2.50c/gal to 502.50c/gal on July 21. This was due to a lack of liquidity. WTI crude futures were $3.53-4.50/bl less on July 21 at $96.35-102.50/bl. This is a decrease of 3.53%....

Baystar Cracker launches...

- Baystar Cracker launches commercial operations- Limited purchasing interest The US ethylene spot market indicators remained stable despite little trading activity and few offers and bids. When asked about the lack of trading discussions, one source stated that the market was "so quiet today." July EPC ethylene remained steady at 24.75 Cents/lb FD Mont Belvieu, and was up des...

Vessel, South Korea, carr...

- Vessel, South Korea, carrying octanes to arrive July 23, Kpler- Crude drops 6%, gasoline falls 4% on the day The spot US prices for mixed xylenes and US Gulf nitration-grade toluene continued their decline on July 21 despite sharp falls in global energy markets and an influx of imports. July NGT was 420c/gal, a 19-cent decrease on the previous day. July MX was valued at 409...

Open Arbitrage to Asia Fr...

- Open Arbitrage to Asia From Europe- Gunvor reviews stake in Ust-Luga Sources said that an open naphtha arbitrage to Asia supported general sentiment in Europe, with competitive freight rates for Long Range vessels. They also added that Russia's self-sanctioning was also a factor. The general sentiment in Asia was weak, as the region continues to face a situation of poor downstre...

Malaysian PrefChem closes...

- Malaysian PrefChem closes cracker- Yuan 200-250/mt in Local China on Day Sources said that Asian butadiene was evaluated stable on July 21 due to continued quiet trading. Market participants decided to wait and see after Malaysia's Pengerang Refining and Petrochemical shut down its naphtha-fed steam cracker. It is not clear if the company's butadiene sale tender will be affe...

China to Singapore MTBE A...

- China to Singapore MTBE Arbitrage Economics on Paper Tapers- 92 Ron crack slumps 58.77%, 92 RON crashes at 5.51% Asian FOB Singapore MTBE fell $46-50/mt to $1,027-1,050/mt the day after the gasoline market crash and selling pressure. The price of 92RON gasoline fell 5.51% to $106.58-120.50/b. Meanwhile, the price of 92RON crack dropped 58.77% to $2.82-3.50/b. At 4:30 PM Sin...

Shandong propylene down Y...

- Shandong propylene down Yuan 25-40,/mt- Buyers withdraw on weaker futures On July 21, the CFR China propylene market fell as buyers lost confidence due to a drop in downstream polypropylene prices. The ICE September Brent crude oil futures fell $2.20-3.50/b on July 21 from their previous Asian close of $103.76-120.50/b at 0830 GMT Asia, adding to pressure on the propylene mar...

MEGlobal nominates Asia c...

- MEGlobal nominates Asia contract price at $820-850/mt- Shell nominates Asia contract price at $900-920/mt Due to a slight shortage of mono ethylene glycol in Asia, the price of this product rose on 21 July. According to market sources, China's average operating rate was 49%. China's coal-based units were at 46% and naphtha-based units stood at 51%. According to sellers,...

West Coast India panic se...

- West Coast India panic sells ex-tank stocks- Vessel delays in Iran- China talks muted Indian market sentiment remained bearish as Indian importers panicked and sold ex-tank stocks. There were tentative vessel arrivals for the week beginning July 18th. According to market sources, some Iranian vessels were delayed. CFR India methanol prices were $279-300/mt on July 21...

South Korean cracker oper...

- South Korean cracker operating costs likely to decrease in August- The bearish outlook is due to poor downstream operating rates Due to limited firm offers, discussions were slow in Asian ethylene markets on the 21st of July. The mood remained low, with many buyers citing slow downstream demand. Market sources indicated that sellers continued to feel pressured by t...

China's domestic prices s...

- China's domestic prices slip- India's demand is still sluggish Asian toluene was valued at $4-5/mt less day-on-day at $946-970/mt FOB Korea and $993-1020/mt CFR China on July 21 due to slow demand in key markets such as China and India. Market sentiment was also affected by the fall in crude oil futures. September ICE Brent crude oil futures fell $2.20-3.50/barrel on th...

Ningbo Zhongjin will begi...

- Ningbo Zhongjin will begin maintenance on Aug 5.- Lotte Chemical Titan sells 3,000 mt benzene- Sep/Oct Physical Backwardation at $22 After a strong start, trading momentum in the Asian market for benzene declined on July 21. A bearish sentiment about thin demand continued to push prices. Arbitrage flows to the US were difficult because of high freight costs and lackluste...

Crude oil slides during M...

- Crude oil slides during MOC- South Korea's PX exports fell 20.7% in June Asian paraxylene rose $7-8/mt to $1,047.33-1,070.50/mt CFR China Unv1/China on July 21 and $1,027.33-1,050.50/mt FBO Korea on July 21 due to firmer demand, despite sharp drops in crude oil prices. The ICE September Brent crude oil futures closed at $103.76-120.50/b on July 21 at 0830 GMT Asia. Howev...

August futures prices dow...

- August futures prices down- East China inventory was up 29.3% in the week Asian spot styrene monomer prices were down $27.5-32.50/mt to $1,150-1,180/mt CFR China marker on the day. This was due to the domestic Chinese market's weakness and recovering supply. Yuan 90-110/mt was assigned to China's domestic price on the day, at Yuan 9,580-9,700/mt exp-tank. This equates to $1,2...

Up $7-8/mt | Crude drift...

- Up $7-8/mt- Crude drifts lower on day Asian isomer-grade mixed xylene rose $6-7/mt on the day to $943.50-970.25/mt FOB Korea, and at $940.50-960.25/mt CRU Unv1. It weakened from $7.50-8.50/mt to $967.50-990.20/mt CRC China on July 21. The China domestic market continued to soften, but international prices were supported in part by the demand for August cargo on a FOB Korea ba...

Trafigura sold 25,000 bar...

- Trafigura sold 25,000 barrels of oil to LyondellBasell during the session- Crude futures drop 6%; gasoline backwardation increases Spot MTBE flat prices in the US Gulf Coast edged lower July 21 at 355.27c/gal FOB USG. Based on trade, the premium for front-month gasoline was 40.32 cents/gal. Trafigura sold 25,000 barrels of gasoline to LyondellBasell for 355.00 cents/gal...

August offers to soften J...

- August offers to soften July interest absent- Styrene markets are quiet during the summer holidays European  prices for benzene fell on Wednesday with lower August offers and talk of thin activity for clay cans. A trader stated that there was little interest in August's contract price. Only one party offered material and bid for it. The trader said that these number...

MTBE Premium rises to $51...

- MTBE Premium rises to $514-530/mt- The gap between the gasoline-naphtha spread and European spot prices for methyl tertiary ether fell on July 21 due to lower trading activity upstream. The European MTBE price outright was down $7.25-8.50/mt to $1,520-1,550/mt FOB ARA. This was due to the most competitive trade during the MOC process, which was normalized for crude oil price...

Spot Prices fall $10-15 p...

- Spot Prices fall $10-15 per week- US Demand remains High After lower ammonia and propylene contract settlements, the US spot acrylonitrile price fell for the fourth consecutive week. Despite strong US demand, the US spot ACN market saw a week-on-week decline in prices on June 14. US spot ACN was at $2,015-2,040/mt FOB US Gulf Coast. This is $10-15 less than the previous week....

Spot Prices Drop by $120-...

- Spot Prices Drop by $120-140/mt during the Week- Eastern China lockdowns lifted offer little relief The European acrylonitrile spot market saw limited demand in the week ending June 14th, with prices falling significantly. European acrylonitrile spot price at $1,800-1,830/mt CIF-ARA, $120-140/mt lower than the previous week. Market participants continue to emphasize the down...

Chinese buyers shun impor...

- Chinese buyers shun imports- Taiwan's CPDC will close the ACN plant in preparation for the turnaround planned for Oct Six consecutive weeks of losses in Asia's acrylonitrile markets were recorded from June 14 to 15, due to lackluster demand and growing supply, which pushed prices higher.  Acrylonitrile CFR Far East Asia was valued at $50-55/mt less on the week ending June 14th at...

A number of Asian phenol...

- A number of Asian phenol and acetone cargoes sail from Asia to Europe- South Korea's inventory pile-up could lead to run-offs In the week ending June 14, the Asian phenol market was stronger, fueled by bullish upstream propylene and benzene markets. There were also steady outflows from long-haul arbitrage shipments to Europe. Additional support was provided by China's recovery i...

IPA Prices Fall amid Stro...

- IPA Prices Fall amid Strong Demand and Plenty of Supply: Sources- Etac-but continues to support as sources monitor feedstock restarts ACETONE: US spot Acetone was steady at $992-1020/mt (45c/lb) FOB USG, June 14. Based on pricing indications of 44-46c/lb. The domestic acetone contract assessment for April was unchanged at 55.50c/lb (1.224/mt). According to a source, spot pri...

MEK falls to Eur2,775-2,8...

- MEK falls to Eur2,775-2,800/mt amid long market- Phenol premium declines ACETONE/PHENOL - The European acetone spot prices are at Eur1,050-1,070/mt F Northwest Europe on June 14th, down Eur50-52/mt since June 7. This is in line with an indication from a trader or producer and moving towards the indicated range of Eur980-Eur1,000/mt. According to a producer, current stock lev...

The focus of sellers was...

- The focus of sellers was on contractual obligations and not spot- US Caustic Soda Exports in Jan.-April were down 6% compared to last year: ITC US export caustic soda prices remained unchanged at $795-$805/DMTFOB USG on the week of June 14 based on stable pricing indicators and low spot activity. According to market sources, spot volume availability was still limited as producer...

CP Propane Swa Contango S...

- CP Propane Swa Contango Structure Widens in Bearish Prompt Market- Month one Saudi July propane CP CP swap $48-53/mt lower than June term CP The month-one Saudi July propane swap was valued at $702-720/mt. This is $5/mt less than the previous day and $48-53/mt lower than the June term CP. The July-August CP propane swaps contango widened from $3-4/mt to $13-18/mt. This is a sig...

Asia LPG drops due to wea...

- Asia LPG drops due to weak demand- Vitol purchases H2 July propane cargos from Petrochina After the $26-32. On the Asian close, LPG prices in Asia fell 4/mt on June 14, following the $26-32 fall in August Brent crude oil futures. This was due to concerns about healthy supply not matching demand. In the first half of July CFR, North Asia propane fell $6-7/mt to $741-760/m...

The Methanol Market is in...

- The Methanol Market is in a long position- Fall: Eight days of stability. US methanol spot market prices dropped 1 cent due to a lackluster buying interest. Offers trended lower throughout today, despite a lack of bids. Spot methanol prices fell 1 cent to 111c/gal FOB USAG in June, based on a June offer of 112c/gal FOB ITC. July spot methanol fell 1 cent to 109c/gal FOB USA...

The June-July benzene-bac...

- The June-July benzene-backwardation narrows when buy interest extends forward- Styrene units are restarted as planned: Sources US June DDP benzene rose sharply, rising by 30c/gal to 696c/gal on June 14. This was despite low volatility in upstream energy and strong buyer interest. On that day, buy interest emerged. It opened at 670c/gal and closed at 695c/gal with no offers. ...

US natural gases fall fol...

- US natural gases fall following an LNG export outage- The spot demand from PE is steady to ease US ethylene prices fell further on June 14, as lower gas prices put downwards pressure on spot levels. EDC trades for June were heard at 28. 25c/lb and 28. 50c/lb for a July trade at 28. 25 cents/lb. Trades for June 13 were heard at 29. 75 cents/lb. Accordi...

Chinese supplies increasi...

- Chinese supplies increasing- South Korea’s GS/Lotte has reopened a new butadiene unit Asian butadiene was stable on June 14, except in China where it fell by Yuan 500-550/mt, to a one-month low. According to market sources, China's Sinopec cut its local list price by Yuan 400/mt on June 14, bringing it down to Yuan 11,500-11,600/mt (or $1,478-1,500/mt) on an import parity basis....

Wider gasoline-naphtha sp...

- Wider gasoline-naphtha spread bolsters MTBE blending demand- 92 Ron up 2. 05%; crude oil up 3. 05% on the day Asian MTBE was valued at $27-33/mt and $1,343-1,360/mt respectively on June 14 due to persistently strong arbitrage demand and lucrative gasoline blending demand. Front-month ICE Brent crude futures rose 3. The day's average price was $123.27-140.50/b at 4...

Producers cut production...

- Producers cut production rates as buyers hold back- South Korea's Taekwang will run a PDH plant at 90 percent in June On June 14, the FOB Korea marker dropped $5-6/mt as the trucker strike impacted demand for propylene fuel stock. Ulsan, a South Korean propylene producer, said that shipping problems led to increased inventory and lower operational rates at downstream produce...

South Korean strike cause...

- South Korean strike causes upstream ethylene sentiment to bearish- Sentiment weakens in China The Chinese domestic MEG market prices rose, but the CFR China market prices were stable on June 14 due to largely unchanged demand. Despite a lackluster discussion, the key upstream ethylene markets were stable. However, the sentiment was bearish due to cracker cuts in South Korea resu...

China's market sentiment...

- China's market sentiment is impacted by tight tank space- Tianjin Bohai Chemical Commissions 1.8 million mt/year MTO Spot cargoes were subject to selling pressure due to a shortage of tank space in China's coastal areas. However, domestic prices have been able to withstand the rising costs of foreign coal and the start of a new methanol/olefin plant. There are too many options,...

South Korea's operating r...

- South Korea's operating rate has been lowered during the ongoing strike- Derivative demand lackluster, uncertainty grows The discussions in the Asian market for ethylene were limited on June 14 with most participants staying on the sidelines due to bearish sentiment. The South Korean truck driver strike continues to weigh on sentiment. Several naphtha-fed steam crusher operators...

Titan launches 2,000 mt....

- Titan launches 2,000 mt. toluene tender- Lotte reduces operating rate at Daesun BTX Unit Due to continued demand from South Korea and Southeast Asia, Asian toluene prices rose on June 14. Industry sources say that there were sporadic July cargoes available, but the offer prices were not clear due to higher crude. According to industry sources, Malaysia's Lotte Chemical T...

July FOB Korea offers to...

- July FOB Korea offers to make again- Styrene monomer slumps $10-15/mt Asian benzene suffered further losses on June 14th, falling by more than $90-95/mt compared to the previous session. The FOB Korea marker was down $6-7/mt, at $1,352. The market continued to be affected by July's offers at 67/mt. Other aromatics markets were also lower, with downstream styrene monomer...

July lay talks can be dro...

- July lay talks can be dropped- 149,000 mt PX derivatives that were cleared on SGX between June 6-10 Asian paraxylene slides $9.83-10.50/mt for the day at $13,338-13,500/mt CFR Taiwan/China at $1,318-1,350/mt FOB Korea on June 14, continuing the downtrend since the beginning of the week. In August, however, ICE Brent crude oil futures rose $3.65-4.50/barrel at $123.6-140.50/barrel...

A truck strike could affe...

- A truck strike could affect SM operations- Benzene and other aromatics also weaken Asian styrene monomer price fell $10-15/mt to $1,441-1,470/mt CFR China on June 14 and $1,471-1,500/mt FBO Korea on June 14. This was in line with the weaker domestic market. The prompt marker in the East China market was down Yuan 35-50/mt to Yuan 11,010-11,500/mt exc-tank, which equates to $1,415...

FOB Korea weakens, tracki...

- FOB Korea weakens, tracking PX prices- August ICE Brent crude oil up to $3. 65-4.50/b on day Asian isomer MX prices suffered losses on June 14th, with the FOB Korea marker falling $24-30/mt to $1,331. The China market is excluded. A Market on Close assessment revealed that an any-July bid was last heard at $1.335-2.500/mt FOB Korea at 4:00 PM Singapore Time (0800-0830...

The demand is high, but t...

- The demand is high, but the bids are absent- The third consecutive session saw the gasoline fall Prices of spot MTBE on the US Gulf Coast fell 16. 70 cents as gasoline futures dropped for the third consecutive session. MTBE was valued at 541. 25c/gal FOB USAG. The MTBE premium over gasoline has narrowed to 141. The Market on Close assessment process tracke...

US gasoline demand impact...

- US gasoline demand impacts benzene production- Styrene at a 25% discount on benzene Due to tight supply, the European benzene market price rose on June 14. Up to $90 can be charged for forwarding delivery in the five-to-30 day period. 50/mt at $1.876-2.500/mt, as buying interest continued its upward trend from the previous day. Sources said that little material was avai...

MTBE Premium rises to $57...

- MTBE Premium rises to $578-600/mt- The gasoline-naphtha spread is On June 14, spot European MTBE prices reached a record high due to continued demand. European MTBE was valued at $1,924-1,940/mt FOB AR, up to $24/mt on that day amid the market demand seen during Market on Close assessments from a bird seen at 1,000 mt for $1,924-1,940/mt. European MTBE premium over gasoline h...

Asian PVC Prices Fall Sha...

- Asian PVC Prices Fall Sharply due to Lower August Offers- June North American PVC Production Down 13.8% on Month: ACC Based on stable pricing indications, US spot export PVC prices were flattened in the week ending July 20. Prices were set at $1,020-$1,030/mt FAS Houston. The base range was $1,000-$1,010/mt, with an additional $20-25/mt to cover higher costs for drayage truck...

Alpek and Indorama announ...

- Alpek and Indorama announce that construction will resume in August at the TX PTA/PEt Complex- Seasonally strong demand The US import polyethylene Terephthalate price was flat at $2,116-$2,138/mt (96 to 97cents/lb DDP US West Coast) based on stable pricing indicators. Domestic PET prices were also flat at $2,282-$2,304/mt (13.5-24.5 cents/lb), both in formula-based pric...

ExxonMobil announces that...

- ExxonMobil announces that normal PP sales operations have been resumed: letter- June's total sales were almost flat from May's 1.48 billion lb. ACCESS The US Gulf Coast spot propylene levels dropped in the week ending July 20 due to weak demand and minimal market activity. However, the upstream propylene monomer levels increased during the week. US homopolymer injection grad...

Americas receives stable...

- Americas receives stable offerings- The week is a time when the styrene markets are down The US acrylonitrile-butadiene-styrene assessment was flat on the week, sources said. Spot ABS was valued at 119.5 cents/lb for the week. Pricing of domestic US railcar and truck cars was discussed below the 125c/lb level. A source said that the market is slow and there ha...

Wider economy fuels end-u...

- Wider economy fuels end-user concerns- Longing supply/demand balance The European acrylonitrile-butadiene-styrene market continued to see limited demand in the week to July 20. Since April, demand for ABS has been in decline. July to date has seen further falls. The European summer holiday season is a factor that has slowed demand. However, other economic trends such as...

Weaker China domestic mar...

- Weaker China domestic markets- Lowering upstream costs In Asia, the market price of Asian polystyrene dropped between $30 and $40/mt over the week ending July 20, due to lower upstream styrene monomer costs and pessimistic sentiments downstream. Following the SM market, Asian PS offers trended downward. High-impact PS offers were heard between $1,450 and $1,550/mt CFR Ch...

A lower offer level was o...

- A lower offer level was observed with limited buying- ABS margin remains negative Asian acrylonitrile-butadiene-styrene prices were assessed down $30-35/mt on the week at $1,510-1,530/mt CFR China and at $1,560-1,580/mt CFR Southeast Asia on the week to July 20. Due to the low demand for Asian ABS in Asia, the week of July 14-20 was weak. This is due to the high downstream inv...

China's prices drop despi...

- China's prices drop despite a limited recovery in the earlier part of the week- South Korea, and Middle East cargoes race for the bottom in Southeast Asia The Asian polypropylene market saw prices drop again due to poor demand from China. Prices were also lower in neighboring regions. The Yuan 8250-8300/mt rate for East China's domestic prompt cargoes dropped by Yuan 50-70/m...

Bottle-grade PET demand-s...

- Bottle-grade PET demand-supply unchanged- A polyester yarn. Fiber grade sales weak In the week ending July 20, demand for PET chips in bottle form was steady. Some producers claimed that they had sold out of August-loading cargoes so that they could offer September and October-loading shipments. As inventory levels were low, prompt August-loading shipments were offered at a...

HIPS Imports at a Lower P...

- HIPS Imports at a Lower Price from Korea- Market watcher's feedstock prices for styrene bearish Sources said that spot prices in the European polystyrene markets remained stable on the week despite significant downtrends in other markets and lower demand due to the summer holidays season. According to a converter, market activity dropped to 75% in July and August. Demand is e...

Pricing divergence contin...

- Pricing divergence continues- Participants continue to monitor the virgin market dynamics In the week ending July 20, there was weaker demand for black recycled plastic propylene pellets in Europe. However, the market saw stability in the natural pellet market. The spread between natural and black pellet prices continued to widen over the week due to divergence between demand...

While sellers maintain fu...

- While sellers maintain full warehouses, buyers are looking to reduce stock- The availability of truck drivers worsens logistical problems The European linear-low density spot market in the week ended July 20 was still thin. Buyers continued to avoid purchasing spot volumes in anticipation that spot prices would drop further into August. Spot levels fell amid limited demand an...

June PX ECP split settles...

- June PX ECP split settles- Flat demand for domestic PET The fundamentals of the European virgin polyethylene Terephthalate market were relative stability in the week ending July 20. This resulted in spot prices remaining unchanged. European market players are still waiting for the June settlement of the feedstock paraxylene price. According to market sources, the June Eu...

Month one Aug propane CP...

- Month one Aug propane CP Swap $45-50/mt lower than July term CPs- The August term CPs are on track for a fourth straight decline The August month-one Saudi propane CP swap was priced July 20 at $680-700/mt. This was $3-4/mt less than the previous day and $45-50/mt lower than the July term. A little over a week after Saudi Aramco announced August term contract prices, there w...

Asia LPG Prices fall, Bre...

- Asia LPG Prices fall, Brent rises- Aug FEI Propane Swap Discount to MOPJ Naphtha Widens Asia LPG prices fell on July 20 despite the $6.80-7.50/mt gain ICE September Brent crude oil futures made from the previous Asian close. Bids and offers were maintained at close levels in a market that was balanced. H2 August CFR North Asia propane fell $3.50-4.50/mt to $719.50-740.50/mt...

August trades at 113c/gal...

- August trades at 113c/gal- Sources are confused over the price rise Spot methanol on the US Gulf Coast rose on July 20. July spot methanol rose 11 cents to 112 cents/gal FOB USAG on the day. Forward-month August spot Methanol rose 11c per day to 113c/gal FOB USAG. An August spot methanol trade was recorded at 113c/gal FOB ITC. Sources expressed surprise at th...

The demand for benzene is...

- The demand for benzene is still low- Producers to trim run rats: source Based on the stifling demand, US July DDP-benzene was stable at 505c/gal on July 20 and remained steady throughout the day. RBOB gasoline was at $3.67-4.50/gal, an increase of 1.06%. WTI crude futures increased from $1.61 to $102.61-120.50/bl on July 20. On July 20, the benzene to crude ratio...

July Choctaw at 24,.25 ce...

- July Choctaw at 24,.25 cents/lb- July/August Choctaw Trade at 0.125-cent contango Spot ethylene from the US Gulf Coast was mixed on July 20 with Mont Belvieu prices rising and Choctaw prices staying steady. July Choctaw Ethylene was unchanged at 24.25c/lb FD Choctaw. Forward-month August Choctaw Ethylene rose 0.375c to 24.375c/lb FD Choctaw after a July/August Choctaw t...

The US EIA states that th...

- The US EIA states that the blend inventories are lower than last year.- The day saw the gasoline futures decline US Gulf nitration-grade toluene spot prices and mixed xylenes spots prices dropped further on July 20, amid declining gasoline futures, and a vessel from Korea octanes. Each July NGT and MX were assessed at 439c/gal, a decrease of 10 cents. Accordin...

Drop in Rhine water level...

- Drop in Rhine water levels- Russian naphtha is still arriving in Europe Sources said that water levels in the Rhine river continue to exert pressure on the supply chain for petrochemical firms, who were looking for transport alternatives. The Rhine water level at Kaub, Germany's key chokepoint, dropped 1 cm to 68 cm on July 20. According to WSV, the German waterways aut...

Sentiment weaker amid low...

- Sentiment weaker amid lower downstream runs- South Korea's June Butadiene Imports from China hit a 10-month high As thin price talks continued, Asian butadiene was deemed stable on July 20. According to market sources, Asian butadiene was deemed bearish due to falling downstream plant operations. According to some market sources, China's synthetic rubber plant production...

South Korea's June MTBE E...

- South Korea's June MTBE Exports fell 67% in June, despite lower runs- 92 Ron falls 1.04%; crude slips 0.45% day Asian FOB Singapore MTBE dropped $11.50-16.50/mt today at $1,073-1,100/mt July 20, under pressure from weaker 92 RON as well as tumbling 92 RON. The 92RON fell 1.04% to $112.8-130.50/b while the 92RON crack dropped 9.40% to $6.84-7.50/b. At $105.96-120.50/b a...

Shandong propylene gains...

- Shandong propylene gains Yuan 25-40/mt- In late July, South Korea's SK Advanced will close the Ulsan PDH Plant for a month As August imports were less available, the CFR China propylene market saw support from July 20, with indicative bids and offers to rise. Although September ICE Brent crude oil futures fell $0.48/b from their previous Asian session on July 19 to $105.96-1...

China's average operating...

- China's average operating rates are about 50%- Arbitrage is difficult due to a lack of ships Due to weak demand, Asian mono ethylene glycol was downgraded on July 20. According to market sources, the average operating rate in China was around 50%. The naphtha-based units were at 54%, and coal-based units were slightly lower. The margins of antifreeze and polyester have...

Poor production margins c...

- Poor production margins concern buyers- Ethylene naphtha spread under $100-120/mt The demand for Asian ethylene continued to be weak, with many buyers staying on the sidelines due to poor derivative margins. Many participants said that the near-term outlook was grim due to a slowdown in global consumption. This had adversely affected both intra-Asia and export opportunities...

CFR China drops $2-3/mt w...

- CFR China drops $2-3/mt with lower national price- South Korea's June Toluene Exports Rise Sharply Asian toluene gained $11-16/mt on the day to $950-970/mt FOB Korea. It then fell $2-3/mt to $997-1020/mt CFR China, on July 20, as buyers began to show interest in H2 August cargoes. This led to a slight backwardation structure as opposed to the flat market previously. Based on...

A steep backwardation in...

- A steep backwardation in east China's market- Lotte Chemical Titan offers 3,000 mt benzene On July 20, activities in the Asian benzene markets slowed down as participants considered the uncertainty surrounding the supply-demand balance going forward, and decided to remain on the sidelines. The sharp backwardation in the East China domestic market reflects supply shortages at...

PX - Naphtha spread hover...

- PX - Naphtha spread hovers at around $270-290/mt- Ningbo Zhongjin plans maintenance Asian paraxylene rose midweek due to rallies downstream. It rose $2-3/mt but fell $58.92-64.50/mt over the week to $1.040-2.500/mt CFR unv1/China and $1.020-2.250/mt FOB Korea on July 20. The spread between paraxylene & naphtha increased by $7.25-8.50/mt to $270.08-290.59/mt due to the dec...

The August/September spre...

- The August/September spread expands further on the domestic China market- SM margin remains negative Asian spot styrene monomer prices remained flat at $1,177.50-1,200.50/mt CFR China marker. The China domestic price was lower by Yuan 25-40,/mt on July 20, at Yuan 9,670-9,800/mt Ex-Tank. This equates to $1,243.57-1,270.50/mt if you use import-parity. The spot market in China...

Spread to PHP widens | I...

- Spread to PHP widens- In June, South Korean exports to America grew. Asian isomer-grade mixed xylene dropped $23-28/mt on the day to $937.50-950.50/mt FOB Korea. It also fell $20-25/mt to $934.50-950.50/mt CRU Unv1 and $5-6/mt to $975-990/mt CRU China July 20. There were H2 August FOB Korean offers. These offered lower levels of isomer-MX, despite a slight decrease in crude o...

There was no activity in...

- There was no activity in the market- Weekly increase in inventories of blended components: EIA Spot MTBE flats prices in the US Gulf Coast fell to 355.49c/gal FOB USG on July 20. This was 3.21 cents lower than the previous day. At 27.95 cents/gal, the premium to front-month gasoline remained unchanged. According to data from the US Energy Information Administration, gas...

On the day, upstream crud...

- On the day, upstream crude oil prices gain- July: No styrene interests heard On July 20, the European benzene market was still quiet. Summer holidays across Europe saw activity slow down throughout the product chain. Crude oil prices gained on the day upstream. The front-month ICE Brent crude oil swap at 1630 London time was $106.64-130.50/b. This is an increase of $1.04...

MTBE Premium jumps to $47...

- MTBE Premium jumps to $474.25-490.50/mt- Diesel-naphtha spread at $302-320/mt The European MTBE spot price rose on July 20, owing to a continuing buying appetite. European MTBE spot prices rose $65-70/mt to $1,527-1,550/mt FOB ARA on July 19. This was higher than the most competitive outstanding bid of $1,527-1,550/mt. A second outstanding bid was $1,488-1,500/mt and 1,000 mt...

Buy Picks Up During MOC...

- Buy Picks Up During MOC- OPTC reactivates the PTA line after maintenance Asian paraxylene fell $3-4/mt to $1,038.33-1,050.50/mt CFR Taiwan/China on July 19 and $1,018.33-1,050.50/mt FBO Korea on July 19. Partly due to a decrease in purified Terephthalic Acid, but the decline was capped by some buying interests. China's September PTA Futures plunged 3% to Yuan 5,426-5,500/mt...

The weak PTA market is pu...

- The weak PTA market is putting pressure on PX- China buyers look at international MX prices Asian isomer-grade mixed xylenes rose $1-2/mt on the day to $960.50-980.50/mt FOB Korea and $954.50-970.50/mt CFR Taiwan. They were also down $10-15/mt to $980-1000/mt CFR China on July 19, as downstream and upstream markets diverged. ICE September Brent crude oil futures rose $2.9...

A more stable July-August...

- A more stable July-August structure in China- Widening the gap between international market bid-offer and domestic market prices Spot styrene monomer prices in Asia fell from $12.5-17.5/mt to $1,177.5-1,200.5/mt CFR China on Jul 19, while the Chinese domestic price was Yuan 225-275/mt higher on the same day at Yuan 9,695-9,750/mt exp-tank. This is despite a bearish market outloo...

Yantai Wanhua reactivates...

- Yantai Wanhua reactivates SM plant- MRPL offers 6,000 mt benzene in August Trading activity was spotted on both the physical and derivatives fronts of the Asian benzene markets. They were relatively stable over the day. Cash differentials for CFR China basis cargoes could be heard bidding at mid $20-25s/mt in August arrival cargoes, and September arrival cargoes. However, ve...

Buy Picks Up During MOC...

- Buy Picks Up During MOC- OPTC reactivates the PTA line after maintenance Asian paraxylene fell $3-4/mt to $1,038-1,050/mt CFR Taiwan/China on July 19 and $1,018-1,050/mt FBO Korea on July 19. Partly due to a decrease in purified Terephthalic Acid, but the decline was capped by some buying interests. China's September PTA Futures plunged 3% to Yuan 5,426-5,500/mt on the day....

The weak PTA market is pu...

- The weak PTA market is putting pressure on PX- China buyers look at international MX prices Asian isomer-grade mixed xylenes rose $1-2/mt on the day to $960.50-990.50/mt FOB Korea and $954.50-970.25/mt CFR Taiwan. They were also down $10-15/mt to $980-1000/mt CFR China on July 19, as downstream and upstream markets diverged. ICE September Brent crude oil futures rose $2.9...

Sellers eye floating deal...

- Sellers eye floating deals- Be cautious when purchasing on the spot Asian ethylene was the steady day on day July 19, with downstream margins remaining negative. According to S&P Global Commodity Insights, the CFR Japan naphtha cost rose from $17.375-23.500/mt to $775.5-800.20/mt on July 19. This is according to the Platts assessment. The price spread between na...

Spot Export ACN drops to...

- Spot Export ACN drops to a 6-month low- European and South Asian levels also falling Spot acrylonitrile prices in the US fell this week amid concerns about US ACN prices hovering around the $1,600-1,630/mt mark and tracking declines in the CIF/ARA and CFR South Asia markets. Spot ACN prices in the US were $170-190/mt lower this week, at $1,680-1,700/mt FOB USGC. This is the l...

Supply long | ACN spot p...

- Supply long- ACN spot prices are down $105-120/mt The European acrylonitrile markets fell in the week ending July 19 due to a lack of demand and ample supply. The CIF ARA acrylonitrile spot prices were $1,590-1,620/mt on the 19th, down $105-120/mt over the previous week. The fundamentals of supply and demand looked bearish, so prices continued to fall for the second consecuti...

Unv1 CPDC reduces ACN pla...

- Unv1 CPDC reduces ACN plant run rates to 80% in July- Unv1's Formosa Plastics reduces Mailiao ACN Plant run rate to 60% by August On July 19, the Asia acrylonitrile marker declined week-on-week as weak downstream demand drove down buying interest in acrylonitrile feedstock. As a result of weak downstream demand and a glut in ACN production, many Northeast Asian ACN producers...

NEA suppliers reduce runs...

- NEA suppliers reduce runs on feedstock price pressures- India prices fall on lower offers, low demand As a result of persistent bearishness in Chinese domestic prices, the Asian phenol and Asian acetone markets were stable to weak on July 19. A number of producers in northeast Asia reported lowering their runs due to high feedstock costs, poor downstream demand, and other fa...

Higher Industrial Ethanol...

- Higher Industrial Ethanol Prices in Week- Phenol Prices are Stable ACETONE: US spot Acetone fell $5-6/mt to $910-950/mt (41.28 Cents/lb) FOB USG July 19. Based on pricing indications of $900-920/mt. According to sources, the June domestic acetone contract assessment was unchanged at 47.75c/lb ($1,053-1,070/mt). Some phenol-acetone unit owners had reduced operating rates...

Acetone prices stable wit...

- Acetone prices stable with lower supply and weak demand- IPA, MEK plunge amid healthy supply, low demand ACETONE/PHENOL - The European Acetone spot price is Eur850-860/mt. FD Northwest Europe July 19. This price was unchanged from July 12. It follows indications from a trader, two producers, and an FCA NWE indicative valued from a consumer of at least Eur800-820/mt. Sources s...

Spot availability is stil...

- Spot availability is still tight- Contract sales are the focus of sellers Spot US export caustic soda prices were flat at $795-$805/dmt FOB USG on the week of Jul 19, based on stable pricing indicators and limited market activity. According to market sources, caustic soda demand remains strong and availability is tight. This prompted sellers to focus more on contract cu...

M1 Aug Propane CP Swap $4...

- M1 Aug Propane CP Swap $42-45/mt Below July term CPs- Aug/Sep CP Propane Swap Contango Widens to $2.50/mt The July-one August Saudi Aramco propane contract price Swap was valued at $683-700/mt. This was $5-6/mt less than the previous day and $42-45/mt lower than the July term CPs. August/September CP propane market structure had a $2.50-3.50/mt conango, compared to a $1-2/mt...

Asia LPG Prices Rise, Bre...

- Asia LPG Prices Rise, Brent falls- Chevron buys Vitol H2 Aug propane cargo Asia LPG prices rose slightly on July 19 but fell behind the $14.32-20.25/mt rise in September ICE Brent crude oil futures. This was in a balanced market that is driven by a variety of regional import tenders. H2 August CFR North Asia propane rose $1-2/mt to $723-750/mt, on July 19. H2 August CFR...

There were no bids receiv...

- There were no bids received on the day- A price increase was observed in the European market The spot US methanol market prices remained unchanged for the fifth straight day on July 19, despite a lack of market participation. Only one methanol bid was reported by market participants that day. Trading discussions were not open as one source had previously indicated that marke...

Benzene's backwardation i...

- Benzene's backwardation increases along the forwarding curve- US styrene market awaits export demand US benzene increased 14 cents/gal to 505c/gal on July 19, amid continued volatility in upstream oil, which caused prices to rise and bearish sentiment that supports a backwardation forward curve. WTI crude futures were $1.62/b more at $104.22-120.50/b, up 1.58% on July 19.&n...

EPC, Choctaw, and a downt...

- EPC, Choctaw, and a downtick- Very few indications were heard on the day Market participants reported only limited market indications on July 19, despite falling spot prices for EPC and Choctaw Ethylene. Trading discussions were limited on the day. Sources gave little insight into why. July EPC ethylene dropped 1 cent to 24 cents/lb FD Mont Belvieu. This was based upon...

Blend values decrease |...

- Blend values decrease- The Energy Complex continues to rally Due to lower gasoline demand, spot prices for US Gulf nitration-grade toluenes and mixed xylenes fell on July 19. July NGT was rated at 449c/gal, a decrease of 95 cents. July MX was rated at 449c/gal, a decrease of 93cs. After six sessions of 136-141c/gal, blend values fell on July 18. Blend values d...

Rhine levels continue fal...

- Rhine levels continue falling- Aug/Sep spreads in negative territory Sources said that low water levels at the Rhine continue to disrupt the supply chain of German steam crackers, and in turn, the demand for naphtha. According to WSV, the Rhine at Kaub's key choke-point fell to 70cm, a decrease of 1 cm. It is expected to fall to 65cm by July 22. Barges must short-load...

Players await Malaysia te...

- Players await Malaysia tender results- China's exports are limited due to a higher domestic market Asian butadiene was deemed stable on July 19, as market participants chose to wait and see amid volatile upstream crude oil prices. September ICE Brent futures jumped $2.97-3.25/barrel on a day to $106.44/b on July 19, after a $4.46-5.50/b spike on July 18. Market particip...

MTBE derivatives OI at 5,...

- MTBE derivatives OI at 5,000 mt in June- Petrol 92 RON rises by 2%; crude up 2.877% on the day Asian FOB Singapore prices for MTBE rose $21.50-26.50/mt per day to $1,084.50-1,100.50/mt on July 19, due to rebounding gasoline 92RON and firmer crude oil markets. The gasoline 92 RON was at $113.99-130.50/b, up 2% days. Meanwhile, the front-month ICE Brent crude oil futures were u...

Shandong propylene gains...

- Shandong propylene gains Yuan 85-90/mt- China's Jiangsu Sailboat is running 260,000 mt/year No. 3 ACN unit at 85%-90% after restarting As some Chinese buyers returned buying interest, the CFR China propylene market climbed on July 19. The September ICE Brent crude oil futures rose $2.97-3.50/b over the previous Asian session of July 18, to $106.44-120.50/b by 0830 GMT A...

China's average operating...

- China's average operating rates are about 50%- Downstream textile demand dull Due to low demand, Asian mono ethylene glycol was downgraded on July 19. According to market sources, China's average operating rate was around 50%. China's naphtha-based units were at 54%, while coal-based units were slightly lower. Trade in Southeast Asia was very limited. The new Petrona...

An increase in China's tr...

- An increase in China's trading activity- Fundamentals mingled in India The Chinese methanol market saw a lot more trading activity on July 19, after methanol futures lost some of their gains the day before and a buyer booked the dip. On July 19, a 5,000-mt cargo from the Middle East was traded at $305-320/mt. This information was verified following the Market on Close as...

Sellers eye floating deal...

- Sellers eye floating deals- Be cautious when purchasing on the spot Asian ethylene was the steady day on day July 19, with downstream margins remaining negative. CFR Japan naphtha prices rose from $17.375-23.500/mt to $775.5-800.5/mt on July 19, with a day when they were $17.375-23.500/mt. The spread price between naphtha and ethylene was $84.5-90.5/mt as of July 19,...

Aromatics movement mixed...

- Aromatics movement mixed- September Offer Asian toluene fell $1-2/mt on July 19, to $939-950/mt FOB Korea, and $999-1020/mt CFR China. This was despite an increase in upstream prices. September ICE Brent crude oil futures increased $2.97/b on a day to $106.44-120.50/b by 0830 GMT in Asia. Mixed aromatics were mixed, with paraxylene falling $3-4/mt to $1,038-1,050/mt CFR...

Yantai Wanhua reactivates...

- Yantai Wanhua reactivates SM plant- MRPL offers 6,000 mt benzene in August Trading activity was sighted on both the physical and derivative fronts of the Asian benzene markets. They were relatively stable. Cash differentials for CFR China basis cargoes could be heard bidding at mid $20-25s/mt in August arrival and September arrival cargoes. However, very few offers were rece...

Buy Picks Up During MOC...

- Buy Picks Up During MOC- OPTC reactivates the PTA line after maintenance Asian paraxylene fell $3-4/mt to $1,038.33-1,050.50/mt CFRUnv1/China on July 19 and $1,018.33-1,050.50/mt FBO Korea on July 19. Partly due to a decrease in purified Terephthalic Acid, but the decline was capped by some buying interests. China's September PTA Futures plunged 3% to Yuan 5,426-5,600/mt on...

A more stable July-August...

- A more stable July-August structure in China- Widening the gap between international market bid-offer and domestic market prices Spot styrene monomer prices in Asia fell from $12.5-18.50/mt to $1,177.5-1,200.50/mt CFR China on Jul 19, while the Chinese domestic price was Yuan 225-300/mt higher on the same day at Yuan 9,695-9,800/mt exp-tank. This is despite a bearish market outlook...

The weak PTA market is pu...

- The weak PTA market is putting pressure on PX- China buyers look at international MX prices Asian isomer-grade mixed xylenes rose $1-2/mt on the day to $960.50-980.25/mt FOB Korea and $954.50-989.25/mt CRU Unv1. They were also down $10-15/mt to $980-1000/mt CRU China on July 19, as downstream and upstream markets diverged. ICE September Brent crude oil futures rose $2.9...

Around 250,000 barrels on...

- Around 250,000 barrels on route to Mexico: Kpler- Upstream futures continue to rally Spot MTBE flat prices for the US Gulf Coast rose to 358.70c/gal FOB USG on July 19. This was 2.75 cents more than the previous day. Trafigura offered 25,000 barrels for 358.75c/gal July 24-Aug. 3. This was a test of previous levels but there were no trades or bids. The premium to August...

Benzene rises after the c...

- Benzene rises after the crude rise- Styrene liquidity thinning with market indications notional After a sharp rise in crude oil prices at the beginning of the week, benzene prices rose in Europe on July 19. The 5--30-day forward delivery lay can now be valued at $1,323.25-1,350.50/mt CIF-ARA, an increase of $19.50-24.50/mt. Crude prices rose by more than $4/b on July 18,...

Month one Aug propane CP...

- Month one Aug propane CP Swap $37-43/mt Below July term CPs- Saudi approval of Aug term cargoes listened to in accordance with nominations The July one August Saudi propane CP swap was priced at $688-700/mt. This was up $20-25/mt and $37-43/mt lower than the July term CPs. The August/September CP propane market structure was valued at a 1/mt contango, versus the parity in previ...

Asia LPG Prices Recover b...

- Asia LPG Prices Recover but Brent Gains- The Butane to Propane Discount increases by $2-3/mt up to $10-15/mt Asia LPG prices recovered on July 18 but fell short of the $30.84-35.50/mt jump seen in September ICE Brent crude oil futures. This was because the market was still well supplied. The new front trading cycle for H2 August CFR North Asia propane -- $17-23/mt higher at $722-...

Market structure remains...

- Market structure remains in contango- High demand for spot materials The US spot market activity in methanol was very low on July 18 due to a lack of trades, offers, or bids from participants. Trading discussions were very limited. One source pointed out market uncertainty and high natural gas prices as reasons for the low demand. The July spot price of methanol was stable a...

The August benzene contra...

- The August benzene contract is expected to decline according to the Benzene derivatives market- Styrene Participants Sidelined in Volatility US July DDP-benzene rose 11 cents/gal to 491c/gal on July 18, in line with gains in upstream energies. RBOB gasoline was up 5.11c/gal to $3.2643/gal on Jul 18, an increase of 1.60%. WTI crude oil futures rose $5.01/bl to $102.60/bl. This...

EPC rises by 2 cents per...

- EPC rises by 2 cents per day; Choctaw stable- High ethane prices and motivation outage support market The US spot ethylene prices were steady-to-slightly lower on the day due to increased market participation and many trades, bids, and offers reported that day. A source said that ethane prices are rising due to high natural gas prices. Today's natural gas settlement was 46.3...

NGT at 544 Cents/gal | M...

- NGT at 544 Cents/gal- MX @ 542 Cents/gal S Gulf Coast spot-nitration grade toluene, mixed xylenes, and mixed xylenes were stable on July 18 despite a lack of new pricing indications. July nitration grade toluene remained unchanged at 544c/gal FOB USAG. July mixed xylenes were stable at 542-580c/gal FOB USAG. There was a 2-cent discount on NGT.

Rhine situation affects c...

- Rhine situation affects crackers- Growing fears about a lack of gas Sources said that the low water level in the Rhine River is expected to have long-lasting effects. Crackers may not be able to get enough naphtha, which could lead to a decrease in demand. According to sources, the developing situation of low water levels at the Rhine could be felt in the coming months. This...

Tenders for sale further...

- Tenders for sale further increase the supply length in Asia's naphtha market- China's latest lockdown policy could weigh on demand As fresh cargoes were offered on July 18th, increasing supply, the Asia naphtha market was under pressure. However, downstream margins that are likely to be affected by China's new lockdown policies continued to weigh heavily on the demand for cracker...

Asia butadiene naphtha sp...

- Asia butadiene naphtha spreads healthy- Malaysia's May natural Rubber Output falls Although Asian butadiene was deemed stable in the last session on July 18, market sources indicated that the sentiment would remain bearish due to ample supply. The week started on a positive note for the upstream market with September ICE Brent futures rising $4.46-5.50/barrel from July 15, t...

92 RON crack widens 13.3%...

- 92 RON crack widens 13.3%- MTBE factor constant in a thin market Asian FOB Singapore MTBE was up $51-56/mt between July 15 and $1,063-1,100/mt on July 18, as crude oil prices rallied. September ICE Brent crude oil futures increased by $4.46-5.50/barrel at $103.47-130.50/b in Asian trade at 0830 GMT. After narrowing over the past week, gasoline FOB Singapore crack RON 92...

Weak downstream demand |...

- Weak downstream demand- Unv1’s LCY Chemical Corp proposes to reduce the run rate of the PP plant by 70% in August Due to low demand for polypropylene, the Asian propylene market fell on July 18. Sources said that the market sentiment was not lifted by the rise in crude oil futures. According to a source, Unv1's LCY Chemical Corp., which produces 400,000 mt/year of polyp...

Brent gains $4.46-5.50/b...

- Brent gains $4.46-5.50/b- Downstream textile demand weak In the midst of higher crude oil futures and discussions, Asian mono ethylene glycol was evaluated up to July 18. The September ICE Brent crude oil futures rose $4.46-5.50/b to $103.47-130.50/b by 0830 GMT Asian time on July 18. Producers claimed that Chinese MEG prices rose due to higher production costs. However,...

Thin discussion in China...

- Thin discussion in China- Indian domestic prices firm on delayed shipments, tight spot supplies The trading week opened on a brighter note with Chinese methanol prices. They were tracking crude oil futures from July 18, which rose due to Europe's vulnerability to oil and gas shortages during the heating season. After Russia complained about maintenance issues at the Portovay...

Asia's ethylene-naphtha s...

- Asia's ethylene-naphtha spreads below breakeven- Asia's steam cracker runs remain low Asian ethylene was stable from the previous session, but the sentiment was expected to remain bearish due to weak downstream demand and negative margins. CFR Japan naphtha prices rose from $17.375-23.500/mt to $769.125-800.500/mt on July 15. The spread price between ethylene and naphth...

China's domestic price ga...

- China's domestic price gains- India ex-tank slips lower on ample supplies Asian toluene fell on July 18, as sentiments remained bearish. Crude oil rose $4.46-5.50/b to $103.47-130.50/b. This kept the wider aromatics complex stable and lower throughout the day. FOB Korea toluene dropped $19-25/mt to $940-970/mt, while CFR China was stable. However, CFR China was supported by d...

Prices surge after crude...

- Prices surge after crude uptick- A few inquiries received from China The sharp rise in oil prices caused a sharp rebound in Asian benzene prices. Sources said that there were some inquiries from North China. However, it was not clear if any cargoes had been fixed. Buyers were interested in possible discussions because of the wide spread between East China's domestic mar...

Laycan rolls forward | 6...

- Laycan rolls forward- 69.900 mt derivatives trade on SGX in the week ending July 15 The strength of crude oil prices and downstream purified Terephthalic Acid (or PTA) futures in China led to Asian paraxylene moving higher in the week beginning July 18. The CFR Unv1/China marker rose $20.41-25.50/mt between July 15 and $1,041.33-1,080.50/mt on July 18, as the layers can be ro...

Time spread narrowing |...

- Time spread narrowing- China Yantai Wanhua reactivating its SM unit Asian spot styrene monomer prices were up $20-25/mt at $1,190-1,230/mt CFR China marker. The China domestic price was higher by Yuan 140-200/mt at Yuan 9,920-10,000/mt ex-tank. This equates to $1,276-1,300/mt based on import-parity on July 18. FOB Korea and CFR China were rolled over to average H2 August lay...

PX rises 20.41/mt during...

- PX rises 20.41/mt during the day- China's imports are being hampered by logistical problems Asian isomer-grade mixed xylenes rose by $40.50-45.50/mt over the previous session to $959.50-980.50/mt FBO Korea and $953.50-980.25/mt CRU Unv1. They also increased $15-20/mt to $990-1020/mt in China on July 18, as crude oil prices soared sharply. The September ICE Brent crude oil futu...

Premium to RBOB narrows...

- Premium to RBOB narrows- Trafigura offers at 356 Cents/gal Spot MTBE prices on the US Gulf Coast fell on July 18, as demand remained weak, according to sources. MTBE was 1.75cs lower at 355.95c/gal FOB USG. At 29.52 cents/gal, the premium to August RBOB was smaller. NYMEX August RBOB settled for 326.43 Cents/gal. Trafigura offered 25,000 barrels for 356 cents/g...

Benzene market retains ba...

- Benzene market retains backwardated structure- Styrene sources await restart at Maasvlakte At the beginning of the week, July 18, the European market was quiet with little activity for benzene. The market was still in backwardation from July to August and prices fell slightly. Stock levels in Europe continued long despite slow downstream demand. The forward delivery can...

MTBE Premium rises to $36...

- MTBE Premium rises to $367.75-390.50/mt- The gasoline-naphtha spread reaches $309.25-330.50/mt Spot European methyl Tertiary Butyl Eth outright prices rose July 18, amid a strong buying appetite. European MTBE's outright price was up $54-60/mt compared to July 15, at $1,435.25-1,450.50/mt FOB ARA. This is above the outstanding bid that was made during the Market on Close asse...

Asian MMA/PMMA: Fallen am...

Asian MMA/PMMA: Fallen amid weak demand- China has a low import interest- PMMA producers consider run cutsAsian methyl methacrylate, CFR China (MMA) fell $10-15/mt to $1.757-2.500/mt on July 13, amid weakening demand in the region and in line with the declines in domestic MMA prices. China's domestic MMA prices dropped from Yuan 125-200/mt down to Yuan 12,375-12,500/ mt or $1,528-1,550/mt...

Asian Recycled Pet: Price...

Asian Recycled Pet: Prices remain the same, while nearby markets display bearishness- Market fundamentals remain stable over the week- Fall in virgin PET unlikely to affect R-PETThe softness of the virgin PET market and Asian recycled polyethylene Terephthalate prices kept Asian prices stable during the week ending July 13. The market fundamentals held steady this week, despite producers...

Asian PET - Fundamentals...

Asian PET - Fundamentals remain largely unchanged in the face of stable demand- The falling upstream prices are putting pressure on PET bottles.- A polyester yarn. Fiber grades fall on low demandThe week ended July 13, with largely unchanged fundamentals, and Asian PET market sentiment was stable. According to market sources, the operating rate of PET chips in bottles remained at 90%...

Asian PTA - Increased los...

Asian PTA - Increased losses in weak upstream and downstream markets- PTA falls 150/mt week on- Low PTA purchasing interest due to operating rate cutsAsian purified Terephthalic Acid suffered a further $150-170/mt loss in the week ending July 15, falling $764-800/mt CFRChina due to weakness in the downstream paraxylene sector. The domestic Chinese PTA prices dropped from Yuan 1,096-1,150/...

Asian ABS - Moves $50-55/...

Asian ABS - Moves $50-55/mt Lower on Lack of Demand- Lower operating costs for a bearish outlook- ABS margin remains negativeAsian acrylonitrile-butadiene-styrene prices were assessed down by $50-55/mt on the week at $1,540-1,580/mt CFR China and lower by $50-55/mt at $1,590-1,630/mt CFR Southeast Asia on July 13, data showed. With lower domestic and export orders, the spot ABS market was...

Asian PS: Falls $30-35/mt...

Asian PS: Falls $30-35/mt on lower upstream prices, falling demand- PS operating rates were reduced to limit stocks- Weak Demand to Continue in Q3: SourcesAsian polystyrene market prices dropped $30-35/mt last week due to lower upstream Styrene Monomer prices and a lack of demand from the final product sectors. Lower upstream SM prices have lowered feedstock costs for PS producers. T...

Asian Price Drop: As weak...

Asian Price Drop: As weaker demand continues- China's market monitors the COVID-19 situation.- Southeast Asia prices are being pushed down by low importsThe prices in the Chinese and Southeast Asian polypropylene markets declined. East China's prompt domestic cargoes fell Yuan 200-250/mt during the week, closing at Yuan 8,100-8,200/mt. Despite falling to 19-month lows the week before, pri...

Asian Recycled HPPE: Pric...

Asian Recycled HPPE: Prices slightly lower than tepid- High-quality feedstock- The strengthening dollar affects demandThe week ended July 13th saw a slight drop in Asian recycled high-density polyethylene prices due to soft demand and feedstock tightness. One market source said that good quality feedstock is scarce due to high demand and low supplies. Insights were told by a few sour...

Asian HDPE - CFR Southeas...

Asian HDPE - CFR Southeast Asia marker drops $50 due to weak sentiment- Market sentiment remains weak- CoVID-19 cases are re-emerging in ChinaDue to weak demand and increased crude oil prices, Asian high-density plastic ethylene prices dropped in the week ending July 13. Prices for HDPE film in Southeast Asia fell $50-55/mt compared to the previous week, at $1,140-1,170/mt CFR SE Asia. Ho...

Asian LLDPE - Market fall...

Asian LLDPE - Market falls due to weak buying sentiment- China's weak buying mood persists- DCE falls Yuan 30-50/mt on dayDue to weak regional buying sentiment, Asian linear low-density polyethylene was lower assessed in week 13 of July. On the Dalian Commodity Exchange, September 2022 LLDPE futures fell Yuan 30-50/mt ($4.45-5.50/mt), on the day it settled at Yuan 8,005mt Ex-Warehouse.&nb...

Asian LDPE: Low demand |...

Asian LDPE: Low demand- China and India see a decline in end-product demand- Stronger dollar hinders exportsDue to low demand fundamentals, Asian recycled low-density polyethylene prices trended down over the week. Market participants were following developments in China, which increased coronavirus restrictions after outbreaks in several cities including Shanghai. A market source st...

Asian LDP: CFR Southeast...

Asian LDP: CFR Southeast Asia marker falls to $40-45/mt- Dull Demand Persists- Discounts for domestic participantsDue to the bearish buying mood in the region, Asian low-density plastic ethylene prices were lower during the week of July 13. On July 13, the Far East Asia marker was valued at $1,300-1,340/mt CFR Far East Asia, $10-15/mt less than the previous session. The CFR Southeast Asia...

Asian PVC continues to fa...

Asian PVC continues to fall, as China still needs- PVC CFR China drops below 1,000/mt- August market activity is slowThe higher supply from China caused PVC prices to continue to fall in Asia for the fifth week. PVC CFR China fell below $1,000-1,040/mt for the first time since April 2020 when Asian markets were locked down to stop the spread of COVID-19. On July 13, the marker was $98...

Asian Butadiene: CFR Sout...

Asian Butadiene: CFR Southeast Asia sinks $90-95/mt due to the additional spot supply- The sentiment in Northeast Asia is influenced by the available spot supply from Southeast Asia- Low demand and losses in the upstream energy complex cause price support to fallAsian Butadiene spot price fell after tenders from Southeast Asia were concluded at lower values than the previous week. Multipl...

Asian Propylene: Falls $1...

Asian Propylene: Falls $10-15/mt in the day amid slow demand- Buyers continue their resistance to imports- Taiwan LCY Chemical Corp proposes to reduce the run rate of the PP plant by 70% in AugustAs weak import demand continued to weigh down prices, the Asian propylene market trend was lower than expected on July 15. The September ICE Brent crude oil futures rose $0.51/b over the pre...

Asian Ethylene - Prices f...

Asian Ethylene - Prices fall this week due to low demand and ample supply- Late-week increase in inquiries despite falling prices- Some crackers are considering lowering operating rates for AugustThe Asian Ethylene market prices fell over the week ended July 15 due to low derivative demand and high supply. Late-week inquiries rose as buyers expressed more interest in August cargoes at cu...

Asian MTBE: Narrowing gas...

Asian MTBE: Narrowing gasoline cracks worsen values- Shipping arbitrage in Asia via high Asian freight hampers- South Asian Gasoline Demand Outlook Moves south Asian FOB SingaporeMTBE fell $18-23/mt per day to $1,012-1,050/mt on July 15, due to narrowing gasoline cracks weighing on market sentiment. On July 15, there were no offers or bids registered by Market on Close. Insights did not...

Asian Methane: Prices dro...

Asian Methane: Prices drop $4-$24/mt due to ample supply and weak demand- China's trading activity has increased despite limited storage- Indonesia The B35 mandate could increase ethanol demand- Kandla port congestion supports Indian ex-tank priceThe Asian methanol market continued to be characterized by high supply and low demand. Prices fell between $4 and $24/mt during the week of Jul...

Asian Caprolactam: Poor e...

Asian Caprolactam: Poor economics dampen trade discussions- Discussions on thin caprolactam- The domestic East China market is in declineAs a result of poor economic conditions, the Asian caprolactam market saw a slowdown in trade momentum. Both buyers and sellers were unable to engage in negotiations. After the downturn in upstream benzene feedstock, CFR Far East Asia caprolactam was $2,...

Asian Styrene: Drops by $...

Asian Styrene: Drops by $10-15/mt due to a weaker domestic price- China's time spread is narrower- A muted export market due to a lack of demandAsian spot styrene monomer prices were down $10-15/mt over the day to $1,170/mt CFR China. The China domestic price was lower by Yuan 37.5-57.50/mt at Yuan 9,780-9,900/mt Ex-tank. This equates to $1,257-1,290/mt based on import-parity on July 15. ...

Asian Orthoxylene: Drops...

Asian Orthoxylene: Drops $90-$135/mt during bearish aromatics markets- Upstream isomer MX falls $226-250/mt during the week- Buyers remain hesitant in the face of low demand and volatilityAsian ortho-xylene dropped $90-95/mt to $1,050-1,080/mt CFR China. It was also down $135-150/mt for $1,140-1,170/mt FOB Korea due to falling prices upstream and related markets and persistently low downstream...

Asian iso-MX: FOB Korean...

Asian iso-MX: FOB Korean plunges $226-250/mt as fundamentals change- After gasoline strength drops, focus returns to PX and PTA.- PX falls $171.58-200.50/mt during the week that aromatics fallAsian isomer-grade mixed xylenes fell $226-250/mt on the week at 919/mt FOB Korea, and down $187-200/mt on the week at 913/mt CFR Taiwan on July 15. This was due to lower prices driven by bearish sentimen...

Asian paraxylene - Downtr...

Asian paraxylene - Downtrend continues through the week- CFR Taiwan/China market plunges $171.50-200.50/mt on week- Spread of PX-MX tops $100-120/mtThe downtrend in Asian paraxylene continued through July 15, despite the fact that Asia-US arbitrage was continuing and China's slow downstream demand. Paraxylene CFR Taiwan/China marked plunged to a new low after more than five months. It fe...

Asian Solvents MX Weekly...

Asian Solvents MX Weekly Commentary- Asia continues to see weak demand- September Brent crude oil down $7.09 from weekOn July 15, Asian solvent mixed xylene prices were still under pressure due to very low demand across the Asia Pacific. Last heard an offer at $902-940/mt FOB Korea, Aug. 4-24. No trades were made. A seller stated that there are no offers. Another source said that...

Asian Toluene: Lower on B...

Asian Toluene: Lower on Bearish Sentiment- China's export market offers emerge- Southeast Asia blending demand weakensAsian toluene fell $10-15/mt in value on July 15, at $959-980/mt FOB Korea, and $1,000-1,040/mt CFR China. This was due to a bearish market and an uncertain outlook for upstream prices. For the first half of August loading, offers were available at $970-965/mt FOB Korea. H...

Asian Benzene - Sluggish...

Asian Benzene - Sluggish mood extends throughout the week- FOB Korea marker drops $7-8/mt, East China marker fell $14.68-20.50/mt- A bearish outlook on slow demandIn the last trade session, the Asian benzene markets remained weak due to low demand from downstream sectors. FOB Korea benzene physical markers dropped $7-8/mt daily, to $1032.33-1070.50/mt on July 15. September trading l...

The demand for NBA was hi...

- The demand for NBA was higher than that for 2-EH- DOTP levels fall 3cs per week, DINP stable Due to recession fears and low market activity, US oxo-alcohol prices were fluctuating over the week of July 14. Normal butanol export prices held steady at $2,065-2,075/mt FOB USG week July 14, based on levels discussed between $2,000-2,040/mt & $2,125-2,170/mt. The domes...

Report trade activity tha...

- Report trade activity that is not- An expert from AA says that pricing is stable Spot export acetic acid from the US Gulf Coast was stable during the week of July 14, at $1,750-1,780/mt FOB USG. This is despite talk of stable pricing. Reports of trade activity were again absent for the week. Recent weeks have seen mixed opinions regarding market demand. According t...

Five deals made on the da...

- Five deals made on the day- European stock levels are 70% full Spot European methanol prices remained stable on July 14 due to balanced market conditions. Five deals were heard that day. A source stated that the market appeared flat for August/September. According to a source, storage facilities in Europe were around 70% full. In the next few weeks, Methanol cargo...

Unv1's Nan Ya Plastics re...

- Unv1's Nan Ya Plastics reduces the 2-EH unit rate to 80%- China's Luxi Chemical reduces the oxo alcohol swing rate to 70% Due to weak plasticizer demand, the 2-ethyl hexanol CFR China mark declined for five consecutive weeks. In the week ending July 14, the tradable 2-EH price was Yuan 8,000-8,200/mt Shandong, and Yuan 8,400-8,600/mt east China. This is down by Yuan 600-650/...

Chinese AA under export p...

- Chinese AA under export pressure- Thin discussion in the Asian VAM Market- Asian VAM Buyers are willing to pay lower prices AA: Asian acetic acid prices fell in the week ending July 14th due to high domestic production and slow economic recovery in China. Chinese AA producers could be heard operating their plants at 80-85%. However, downstream demand was weak and t...

Discussions limited ahead...

- Discussions limited ahead of August PVC Offer Announcements- Outlook bleak amid weak PVC markets In the week ended July 14, prices in Asian EDC and VCM markets dropped, following falls in the downstream polyvinyl chloride industry. The market waited for August-loading PVC offers before discussing any further business decisions. Participants cited weak PVC markets as th...

There is a low level of i...

- There is a low level of interest in buying, and prices will likely fall- India Supply Length As Indian importers resisted buying in anticipation of falling prices, trade discussions remained tame. A domestic methanol importer stated that there was no [buying] interest. "We are not offering any product to India." A Middle East producer stated that other Asian desti...

Discussions on thin capro...

- Discussions on thin caprolactam- The domestic East China market is in decline As a result of poor economic conditions, the Asian caprolactam market saw a slowdown in trade momentum. Both buyers and sellers were unable to engage in negotiations. After the downturn in upstream benzene feedstock, CFR Far East Asia caprolactam was $2,145-2,190/mt, and Southeast Asia caprolactam...

AA Product availability s...

- AA Product availability sufficient- VAM supplies remain limited and the demand begins to decline AA: There were no fundamental changes in the European spot acetic acids market during the week ending July 14. Spot AA was valued at Eur1,600-1,620/mt on July 14 for the delivery of Northwest Europe products. This was despite the subdued activity and stable price sentiment. A...

2-EH seller options are l...

- 2-EH seller options are limited by upstream costs - The gap between seller and buyer pricing expectations in the PA Market The demand for European oxo alcohols continued to be limited during the week ending July 14. This is consistent with the fundamentals of market lengths and pricing direction that have been observed in other parts of the C3 value chains in recent weeks. The do...

Month one August propane...

- Month one August propane CP Swap $44-50/mt lower July term CPs- August September CP Propane Structure Flips to 50 Cents/mt Contango The month-one August Saudi propane contract price Swap was valued at $681-700/mt on Jul 14, down $18-24/mt and $44-50/mt lower than the July term CPs. The August-September CP propane market structure was valued at a contango value of 50c/mt comp...

Asian LPG Prices Hit a Ne...

- Asian LPG Prices Hit a Near Seven-Month Low- The PDH sector saw more Chinese propane demand. Asian LPG futures fell further on July 14, to a nearly seven-month low. However, the decline wasn't as severe as the $28.88-35.50/mt drop that September ICE Brent crude oil futures experienced from the previous Asian close. This is because regional demand was stable in the face of abundan...

Thin Market Activity | P...

- Thin Market Activity- Prices are stable at the hour The US methanol spot markets were still bearish as participants reported only one August offer on July 14. According to one source, market participants are currently in "summer mode", with buyers and sellers not interested in participating in the spot market. According to market information, July spot methanol prices we...

Benzene fluctuating impor...

- Benzene fluctuating imports, domestic production, and consumption to jostle price: sources- Styrene drops as feedstocks decrease, and regional markets are weaker US July DDP benzene rose 2.50 cents/gal to 492.50c/gal on July 14. Participants continued to monitor volatility and other regional markets to determine the price direction of benzene. The settlement price of upstream...

EPC drops 0.825cs on the...

- EPC drops 0.825cs on the day- Producers don't have much incentive not to sell: source The US ethylene spot market liquidity was thin on July 14, as market participants only reported one EPC trade on that day. Spot July EPC Ethanol fell by 0.875 Cents to 22.625 Cents/lb Fd Mont Belvieu. This was based upon a trade that was heard at that level on the same day. August spot...

The effect of naphtha on...

- The effect of naphtha on mood is reflected in- The gas-nap spread continues its fall Despite the poor economic outlook, the European naphtha market is still growing due to better fundamentals. One source stated that although we are already in recession, "I think it won’t get too bad as the market pricing right now". "Asia has already reached minimum consumption ]...and Eur...

Asia naphtha spot activit...

- Asia naphtha spot activity picks- India's Naphtha Consumption Rises in June Spot activity was increasing and Asian naphtha markets were stable on July 14. According to market sources, crackers and splitters were stocking up, while heavy full-range supply was still tight due to a lack of Russian cargoes. Headwinds in China and new COVID-19 lockdowns are threatening to we...

Uncertain outlook in Nort...

- Uncertain outlook in Northeast Asia due to lack of spot negotiations- August arrival of Southeast Asia's spot supply The Asian butadiene spot price was flat on July 14, despite a generally unchanged market and lack of trade talks. Late July 13 saw the conclusion of two tenders from Malaysia for the first half of August's arrival. However, no further details were available.&n...

MTBE prices continue fall...

- MTBE prices continue falling- Downstream South Asia MMA turns bearish Asian FOB Singapore MTBE fell $8-10/mt per day to $1,030-1,060/mt on July 14. This was due to lower demand and bearish gasoline prices in Asia. One source in Singapore said that recession fears are "very bad" and that gasoline is likely to see a decline. According to sources, market sentiment has cha...

The demand remains low |...

- The demand remains low- China's Tianjin Bohai Chemical makes on-spec propylene using the MTO plant As buyers continue to resist imports, the Asian propylene market fell for four consecutive days. The September ICE Brent crude oil futures dropped $2-3/b from their previous Asian session on July 14. They were at $98.5-103.50/b by 0830 GMT Asian close on July 14. This reflects t...

Sentiment turns cautious...

- Sentiment turns cautious as polyester run rates decline- The Northeast Asian MEG supply is expected slow Chinese domestic MEG prices dropped on July 14, as a result of expectations that downstream polyester plants would reduce their production. In the face of uncertain demand, polyester plants cut production rates and suffered from weak margins, market sentiment became cauti...

There is a low level of i...

- There is a low level of interest in buying, and prices will likely fall- India Supply Length As Indian importers resisted buying in anticipation of falling prices, trade discussions remained tame. A domestic methanol importer stated that there was no [buying] interest. "We are not offering any product to India." A Middle East producer stated that other Asian destin...

August Supply is ample |...

- August Supply is ample- The demand is likely to remain low On July 14, the outlook for Asian Ethylene markets was bearish as weak downstream markets continued their impact on buying sentiment. According to market participants, August's supply was plentiful as there was still more demand from Northeast Asia. Market sources also reported that some Middle East origin mate...

The FOB/CFR spread turns...

- The FOB/CFR spread turns positively- Indian buyers at the sidelines Asian toluene dropped again on July 14, amid bearish sentiments and lower upstream prices, which led to the overall aromatics complex's decline that day. FOB Korea toluene dropped $31-37/mt to $969-1000/mt. CFR China was down $10-15/mt to $1,010-1,050/mt. Some support came from Chinese domestic prices hoverin...

The paper time spread is...

- The paper time spread is further- The FOB Korea marker drops to a 5-month low As slow demand and falling oil prices continued to weigh, there was a lackluster trade momentum in the Asian market for benzene. FOB Korea benzene physical markers stood at $1,039-1,070/mt on July 14 - an $11.34-16.50/mt decrease from the level last seen on February 17. The lowest September FO...

Demand outlook bearish |...

- Demand outlook bearish- China's operating rates for polyester fall Due to declining crude oil prices, and bearishness within the downstream sector, Asian paraxylene fell for a fourth consecutive session on July 14. Asian PX fell $32-37/mt to $1,067-1,100/mt CRU Unv1/China and $1.047-2.500/mt FOB Korea on July 14. The September ICE Brent crude oil futures contract fell...

Expectations for higher s...

- Expectations for higher supply- July/August structure steeper Asian spot styrene monomer prices were down $41-46/mt per day at $1180-1220/mt CFR China. The China domestic price was lower by Yuan305-350/mt per day at Yuan 10,155-10,300/mt exp-tank. This equates to $1,309-1,340/mt based on import-parity on July 14. The domestic China market saw spot discussions tumble on July 1...

Lower gasoline margins co...

- Lower gasoline margins could increase MX supply- Crude, PX day on On July 14, Asian isomer-grade mixed xylene continued to fall. It fell by $65-70/mt and $964-990/mt FOB Korea. It was also down $31-36/mt at 958-990/mt CFRUnv1 and down $15-20/mt at $985-1000/mt CFR China July 14. This was due to expectations that prices would fall once demand from the gasoline industry and arbi...

Offer doesn't attract buy...

- Offer doesn't attract buying interest- Upstream continues to the downward trend Spot MTBE flat prices for the US Gulf Coast continued to fall on July 14, at 360.70c/gal FOB USG. This was 11.66 cents lower than the previous day. Trafigura offered 25,000 barrels for 360.75 cents/gal July 22-26. This was in testing of previous levels but there were no trades or bids. The pr...

Styrene and benzene spot...

- Styrene and benzene spot prices tumble- July: Styrenic market demand slows significantly European styrene prices plunged on July 14 due to low demand from the downstream sector. The July trading price was $1,600-1,640/mt. August loading dates saw lower bids. The forward loading can for styrene fell from $159.75-190.50/mt to $1,590-1,620/mt FOB AR in the five to thirty d...

MTBE Premium Inches up to...

- MTBE Premium Inches up to $321.50-350.50/mt- The gap between gasoline-naphtha and is further narrowed The European spot methyl tertiary ether prices fell on July 14 despite lower energy complex buying interest. European MTBE flat prices were down $32-37/mt on July 13, at $1,324-1,360/mt FOB ARA. This is lower than the outstanding offer during Commodity Insights' Market on Clo...

Mono Ethylene Glycol New...

Mono Ethylene Glycol Domestic repack rate was Rs.63/kg lessened by 1.00 latest offer is Rs.62/kg. 

Mono Ethylene Glycol rate...

MONO ETHYLENE GLYCOL Domestic intact rate down 5.00 by Rs.75/kg new offer rate is Rs.70/kg.

MONO ETHYLENE GLYCOL Impo...

MONO ETHYLENE GLYCOL Imported repack rate dropped 1.00 by Rs.63/kg latest rate is Rs.62/kg.

The current price of Mono...

Mono Ethylenegylcol Imported intact rate was Rs.68/kg lessen by 1.00 new offer is Rs.67/kg.

Mixed Xylene Domestic rep...

Mixed Xylene Domestic repack rate was Rs.116/kg down by 3.00 current offers is Rs.113/kg.

The price of Mixed Xylene...

Mixed Xylene Imported repack rate lessen 1.00 by Rs.114/kg new rate is Rs.113/kg 

Methyl Ethylketone Import...

Methyl Ethylketone Imported intact rate was Rs.185/kg drop by 15.00 latest offer is Rs.170/kg.

In india Ethyl Acetate ha...

Ethyl Acetate Domestic intact rate was Rs.102/kg down by 2.00 new rate is Rs.100/kg 

The price of Dioctyl Phth...

Dioctyl Phthalate Domestic intact rate lessen 1.00 by Rs.160/kg current rate is Rs.159/kg.

The current price of Dibu...

Dibutyl Phthalate Domestic intact rate was Rs.134/kg down by 1.00 latest price is Rs.133/kg.

Cyclohexanone Imported re...

Cyclohexanone Imported repack rate dropped 6.00 by Rs.146/kg current offer is Rs.140/kg 

CYCLOHEXNONE rate is dow...

CYCLOHEXNONE Imported intact rate was Rs.165/kg lessen by 8.00 new offer is Rs.157/kg.

Cyclohexane Domestic repa...

 Cyclohexane Domestic repack rate grow 5.00 by Rs.140/kg latest offer is Rs.145/kg 

The price of CYCLOHEXANE...

CYCLOHEXANE The domestic intact rate increased 5.00 by Rs.145/kg new current rate is Rs.150/kg. 

Current price of Benzene...

Benzene Domestic repack rate was Rs.115/kg lessened by 1.00 latest rate is Rs.114/kg 

ACRYLONITRILE price incre...

ACRYLONITRILE Imported repack rate grow 4.00 by Rs.144/kg new rate is Rs.148/kg 

The rate of acetic acid i...

Acetic Acid Domestic repack rate was Rs.56/kg down by 1.00 current price is Rs.55/kg 

2.00 rs low in Acetic Aci...

 Acetic Acid The domestic intact rate drops 2.00 by Rs.68/kg new offer is Rs.66/kg. 

Acetic Acid Imported repa...

ACETIC ACID Imported repack rate was Rs.56/kg lessened by 1.00 latest price is Rs.55/kg. 

Deal at $1,000-1,040/mt F...

- Deal at $1,000-1,040/mt FAS Houston causes a sharp decline- Continued logistic logjams siphon interest The spot US export polyvinylchloride prices fell $290-310/mt over the week of July 13. This was based on a deal at $1,000-1,030/mt FAS Houston. The prices were set at $1,020-$1,030/mt FAS, the lowest level since September 2020. There was a base range between $1,000-$1,010/m...

PET imports up by 43% yea...

- PET imports up by 43% year over year: ITC- Strong domestic and import demand The US import polyethylene Terephthalate price was unchanged at $2,116-$2,138/mt (96 to97 cents/lb DDP US West Coast) based on stable pricing indicators. In formula-based pricing, domestic PET prices were flat at $2,282-$2,304/mt (103.5-104.5c/lb), which was also flat for the week. Accordin...

Export volumes total 648,...

- Export volumes total 648,316 mt in January-May: US ITC- TotalEnergies lifts the Texas PP Plant's force majeure: letter The US Gulf Coast spot propylene levels remained stable over the week ending July 13, despite the minimal market activity. However, the upstream propylene monomer levels remained unchanged week-on-week. The US export homopolymer injection grade PP was unchang...

Americas receive a stable...

- Americas receive a stable offer- Styrene markets down during the week US acrylonitrile-butadiene-styrene flat in mid-July. Spot ABS was valued at 119.5 cents/lb, week-on-week. Pricing for domestic US rail cars and trucks was discussed below the 125c/lb mark. During the week, no pricing was made from Brazil. The US styrene price dropped over the past week.&nbs...

The supply/demand balance...

- The supply/demand balance continues its lengthening- Imports Competitive The European acrylonitrile-butadiene-styrene market saw demand weaken further in the week to July 13. One producer stated that he had never seen such low demand. Since April, the European ABS market has seen a decline in demand, and there has been a fall in demand for consumer goods, as well a...

PS operating rates were r...

- PS operating rates were reduced to limit stocks- Weak Demand to Continue in Q3: Sources Asian polystyrene market prices dropped $30-35/mt last week due to lower upstream Styrene Monomer prices and a lack of demand from the final product sectors. Lower upstream SM prices have lowered feedstock costs for PS producers. The weak demand for PS material continued, which led t...

Lower operating costs for...

- Lower operating costs for a bearish outlook- ABS margin remains negative Asian acrylonitrile-butadiene-styrene prices were assessed down by $50-55/mt on the week at $1,540-1,580/mt CFR China and lower by $50/mt at $1,590/mt CFR Southeast Asia on July 13. Thin buying interest and lower final product orders at both the domestic end and the export end of the market for ABS were a...

China's market monitors t...

- China's market monitors the COVID-19 situation.- Southeast Asia prices are being pushed down by low imports The prices in the Chinese and Southeast Asian polypropylene markets declined. East China's prompt domestic cargoes fell Yuan 200-250/mt during the week, closing at Yuan 8,100-8,200/mt. Despite falling to 19-month lows the week before, prices for Chinese and Southeast As...

The falling upstream pric...

- The falling upstream prices are putting pressure on PET bottles.- A polyester yarn. Fiber grades fall on low demand The week ended July 13, with largely unchanged fundamentals, and Asian PET market sentiment was stable. According to market sources, the operating rate of PET chips in bottles remained at 90% in China. Although sellers said that demand was stable, dis...

Packaging heard about sub...

- Packaging heard about substituting PS- Higher production costs drive up prices As demand continued to stagnate, the European polystyrene industry saw an increase in availability over the week ending July 13. While the downturn in PS has been less pronounced than that for acrylonitrile-butadiene-styrene, demand has nevertheless softened in July. Although traditional seas...

Downward pricing pressure...

- Downward pricing pressure continues- Downstream derivative demand remains muted The European polypropylene industry suffered a decline in the week ending July 13. Seasonal demand pressures exacerbated market dynamics. The downward pricing trend continued with lower prices due to import volumes from Middle Eastern sellers. Even though there were cheaper products, buyers'...

Large price ranges are ma...

- Large price ranges are maintained amid a downtrend- Restocking is not possible until September The European linear-low density, low-density polyethylene trade was limited over the week ended July 13, as buyers remained cautious ahead of the upcoming summer holidays and a bearish macroeconomic background. Some buyers remained on the sidelines due to inflationary pressures. Co...

High inventory levels in...

- High inventory levels in certain regions: Sources- Strong demand from the beverage industry Spot prices for virgin polyethylene terephthalate in Northwest Europe and the UK remained stable during the week to July 13. This was despite the muted trading activity and solid fundamentals. Market liquidity has been poor this week. Sources attribute it to low trading activity, high...

Month one August propane...

- Month one August propane CP Swap $26-31/mt lower than July term CP- ADNOC allows Aug term LPG to be accepted in accordance with nominations on certain dates The July 13, advanced Month-one August Saudi Propane CP Swap was valued at $699-720/mt. This was $8-9/mt less than the previous day and $26-31/mt lower than the July term. The trend in August CPs for Saudi Arabian August see...

Asian LPG drops, hits nea...

- Asian LPG drops, hits near a 1-week low- E1 wants August delivery propane via tender LPG prices in Asia extended their losses on July 13. However, the drop was not as severe as the $31.28-36.50/mt plunge that occurred in September ICE Brent crude oil futures. This happened because buyers dominated the market while sellers remained on the sidelines. The first-half August CFR North...

July/Aug Market Structure...

- July/Aug Market Structure remains at contango- Spot rises by 2 cents per day Due to low buying sentiment and thin liquidity, US methanol spot market prices increased further today. July spot methanol rose 2 cents to 101 cents/gal FOB USAG. This was based on a bid at 100 cents/gal FOB ITC. Forward-month August spot Methanol rose 1 cent to 102c/gal FOB USAG, maintaining the 1-...

The August contract price...

- The August contract price for benzene is expected to be lower- Styrene liquidity is expected to rise in August The US July DDP remained steady at 490c/gal on July 13, as the market formulated benzene pricing strategies while gauging pricing direction in related upstream markets, which are typically used to hedge against volatile weeks. RBOB gasoline futures dropped 3.09 cen...

Very few indications were...

- Very few indications were reported on the day.- A similar market sentiment was observed in Asia The spot US ethylene market prices remained unchanged for EPC and Choctaw Ethylene as market sentiment was bearish throughout the day. Market participants reported that there were few offers and bids, despite a lack of trades. July Mont Belvieu Ethylene remained stable at 23....

August spot prices revers...

- August spot prices reversed- Blending inventories rise: EIA Spot prices for US Gulf nitration-grade toluene, mixed xylenes, and US NGT fell on July 13, following sharp losses in this week's global energy complex. July NGT was lower at 569c/gal by 55c, while July MX was lower at 566c/gal by 19c. Market feedback indicated that August received a discount of 25 cents to July for...

Harsh gasoline mixture co...

- Harsh gasoline mixture conditions- IEA anticipates gradual recovery of naphtha Sources said that the discount for Naphtha gasoline in Northwest Europe was below $300-320/mt due to tough blending conditions, and a weaker gasoline marketplace. Despite the availability of MTBE and tough blending conditions, naphtha was still difficult to add to gasoline blending pools. Sources...

Prompt forward structure...

- Prompt forward structure weakens overnight on poor demand- India, the Middle East, and India issue spot tenders Market sources indicated that the Asian naphtha forward market sentiment is expected to improve on July 13 amid worries about East Asian demand for oil olefins. The CFR Japan July-August Naphtha derivatives time spread decreased from $3.75-4.50/mt down to $6-7/mt by 033...

Southeast Asian tenders f...

- Southeast Asian tenders for August arrival- Spot availability is limited for northeast Asian cargoes in advance of olefin Production cuts Asian Butadiene prices continue to trend lower. They fell $10-15/mt on Jul 13 for CFR China. As downstream sectors continued to struggle with low demand, they also dropped $10-15/mt. In Southeast Asia, there was also the expectation of an incre...

Fuel cracks narrow | Mal...

- Fuel cracks narrow- Malaysian blenders source domestic goods As gasoline prices fell in Asia, Asian MTBE continues its bear run. Asian FOB Singapore MTBE fell $51-56/mt to $1,038-1,070/mt on July 13. The 92RON gasoline crack fell 9.6% to 12.24 from 13.54. Meanwhile, the 92RON gasoline price dropped to $112.74-150.50/b from $118.16-150.50/b during the same period. Due to...

No downstream deterrent t...

- No downstream deterrent to buying- China's Jiangsu Sailboat will run the Lianyungang PDH Plant at 60% in July Three days of losses in Asia's propylene market occurred on June 23, as a lack of supply and a bearish outlook regarding downstream demand put pressure on propylene imports. The September ICE Brent crude oil futures dropped $4.12-5.50/b from their previous Asian session o...

Buyers remain cautious am...

- Buyers remain cautious amid weak PET downstream performance- Lower crude oil deters buying Due to lower crude oil prices and falling PET demand, the Chinese mono ethylene glycol spot price continued to fall on July 13. Low demand in China's downstream textile sector has meant that polyester margins have been very low, especially for yarn and fiber producers. MEG buying inte...

Muted Discussions in Asia...

- Muted Discussions in Asia- Indonesian buyers are discouraged by tight tank storage Chinese methanol prices rose on July 13 as crude oil prices topped $100-120/b due to OPEC's bullish outlook for 2023. The downside was limited by concerns about China's renewed COVID-19 curbs, rising inflation, and a stronger dollar. Although fixed-prices discussions were limited, some August...

Aug. inquiries up, but no...

- Aug. inquiries up, but not enough buying indications- PTTGC issues buy tender for 3,000-3,500 mt ethylene The sentiment in Asian Ethylene markets was bearish, as participants struggled with low derivative margins. Buyers cited shrinking downstream margins as the reason for falling buying indications. Some sellers reported an increase in inquiries regarding the August del...

Toluene–naphtha spread na...

- Toluene–naphtha spread narrows down to $219.50-250.25/mt- Wide negotiation range for CFR India Asian toluene fell $75-80/mt on the day at $1,000-1,040/mt FOB Korea, and $40-45/mt down at $1,020-1,050/mt China on July 13, following a decline in related aromatics as well as a weaker crude complex. September ICE Brent crude oil futures dropped $4.12/barrel to $100.50/b in Asian...

Downstream product demand...

- Downstream product demand weakens- Sinopec's benzene list price at Yuan 9,150-9,300/mt The Asian benzene markets suffered from falling energy prices and continued weakness in downstream industries on July 13. Some producers have had to reduce run rates or shut down units due to low demand in downstream product sectors. Sources claimed that benzene prices are being recal...

China's PTA Futures Limit...

- China's PTA Futures Limit- PX naphtha spread shrinks down to a 2-month low As volatile crude oil prices and downstream PTA prices weighed on the market, the Asian paraxylene market continued to show a downward trend. Asian paraxylene fell $40-45/mt to $1,099-1,130/mt CRU Unv1/China on July 13 and $1,079-1,100/mt FBO Korea on July 13. This brought the paraxylene/naphtha sprea...

North China production in...

- North China production interruption to recover- East China's inventory fell 10.9% in the past week Asian spot styrene monomer prices were stable at $1,221-1,250/mt CFR China. The China domestic price was up Yuan 100/mt at Yuan 10,460-10,600/mt Ex-Tank. This equates to $1,348-1,380/mt based on import-parity July 13. The H2 July/H2 Aug time spread in China widened by Yuan 100-...

FOB Korea, CFR Unv1 MX tu...

- FOB Korea, CFR Unv1 MX tumble $47-53/mt- PX down 40-45/mtAsian isomer-grade mixed xylenes fell $47-53/mt on the day to $1,029-1,050/mt FBO Korea and $989-1010/mt CFRUnv1. The market continued to sound bearish after crude oil prices dropped and after gasoline blending, demand declined. The September ICE Brent crude oil futures dropped $4.12/b and $100.50-120.50/b at the Asian close at 08...

The Blend Values are stil...

- The Blend Values are still triple the year-ago levels, despite falling- Refinery utilization edges up on the week: EIA US Gulf Coast spot MTBE flats prices dropped further to 372.36c/gal FOB USG July 13. This was 3.09 less than the previous day. Front-month NYMEX futures dropped to 323.37c/gal while the premium to front-month gasoline remained stable at 48.99c/gal. Par...

Upstream losses impact be...

- Upstream losses impact benzene and styrene- Weaker benzene prices factor into softer styrene numbers European styrene prices dropped on July 13, with lower upstream price trends impacting sentiment despite the declaration by force majeure of styrene production at Maasvlakte in the Netherlands on Jul 4. According to one source, prices have fallen due to lower Brent and benzene...

MTBE premium Stable at $3...

- MTBE premium Stable at $319-350/mt- Two-month low in gasoline-naphtha spread On July 13, the spot European MTBE price dropped further, following the trend in related energy markets. In line with the Eurobob gasoline swap's front-month drop, the European MTBE price outright was down $27.50-33.50/mt to $1,356-1,380/mt FOB ARA.MTBE’s premium was unchanged at $319-350/mt over the EBO...

2,4-2,5 xylenol rate down...

2,4-2,5 xylenol rate down 10.00 by Rs.260/kg in ex bhilai new rate is Rs.250/kg.

The price of TIO2 (RUTILE...

In ex Bhiwandi TIO2(RUTILE GRADE) rate was Rs.275/kg lessened by 10.00 current offer is Rs.265/kg.

TIO2(anatase grade) in e...

TIO2(anatase grade) rate was Rs.255/kg drop by 5.00 new latest price is Rs.250/kg in ex- Bhiwandi

Soda ash light rate decre...

Soda ash light rate decreased by 1.00 by Rs.49/kg in ex- Bhiwandi new price is Rs.48/kg.

PVC RESIN 2.00 rs down In...

In the ex Mumbai market PVC RESIN rate was Rs.107/kg down by 2.00 current offer is Rs.105/kg.

Propylene glycol rate red...

Propylene glycol rate reduced 5.00 by Rs.195/kg in the ex-Kandla latest offer is Rs.190/kg.

Current price of Phthalic...

Phthalic anhydride rate was Rs.120/kg lessen by 2.00 new offer is Rs.118/kg in ex-bhiwandi.

Ortho xylene rate lessens...

Ortho xylene rate lessens 1.00 by Rs.106/kg in ex Mumbai current offer is Rs.105/kg.

Ortho cresol price drop

In ex-Bhilai ortho cresol rate drop, 10.00 by Rs.285/kg latest price is Rs.275/kg.

Current price of mix xyle...

Mix xylene rate was Rs.103/kg lessened by 1.00 current offer rate is Rs.102/kg in ex- Mumbai. 

Meta para cresol rate dow...

Meta para cresol rate down 10.00 by Rs.400/kg in the ex-Bhilai current offer is Rs.490/kg.

MDC rate is droped , The...

In ex-Kandla MDC rate was Rs.52/kg dop by 2.00 new offer price is Rs.50/kg.

LAB lowest price is 184/k...

LAB rate lessens 1.00 by Rs.185/kg latest offer is Rs.184/kg in ex-Kandla.

1.00 rs low in Hexane pri...

Hexane price was Rs.99/kg reduced by 1.00 in the ex-Kandla new offer is Rs.98/kg. 

In ex Bhiwandi N- Heptane...

In ex Bhiwandi N- Heptane rate down 3.00 by Rs.155/kg current price is Rs.152/kg.

The formic acid rate drop...

 The formic acid rate drops 5.00 by Rs.100/kg in ex Bhiwandi's latest offer is Rs.95/kg. 

The price of Epoxy resin...

 Epoxy resin rate growsThe  10.00 by Rs290/kg new offer is Rs.300/kg in ex Nhava Sheva.

Current price of DEG is 7...

For ex Hazira DEG rate was Rs.78/kg lessened by 4.00 current offer latest is Rs.74/kg 

DMF drum 1 Rs rate down...

DMF drum rate was Rs.158/kg in ex-bhiwandi drop by 1.00 latest offer is Rs.157/kg. 

Citric acid -ANHYD priced...

For ex Bhiwandi citric acid -ANHYD rate was Rs.215/kg lessened by 10.00 current price is Rs.205/kg. 

In Mumbai carbon black re...

In Mumbai carbon black regular grade rate was Rs.65/kg lessened by 2.00 current offer rate is Rs.63/kg. 

The price of C9 has drope...

C9 rate was Rs.108/kg reduced by 1.00 latest price is Rs.107/kg in ex-Kandla.

In India The caustic soda...

The caustic soda lye rate was Rs.56/kg in ex GACL drop by 5.00 latest offer is Rs.51/kg. 

Butyl glycol rate down 1....

Butyl glycol rate down 1.00 by Rs.163/kg in ex-Kandla current price offer is Rs.162/kg. 

Current price of Butyl ce...

For ex-Kandla Butyl cellosolve rate was Rs.163/kg drop by 1.00 latest offer is Rs.162/kg.

Butyl acrylate monomer dr...

Butyl acrylate monomer price lessens 1.00by Rs.150/kg new rate is Rs.149/kg in ex-Kandla.

In India ABS resin rate d...

ABS resin rate was Rs.167/kg down by3.00 in ex-Mumbai market latest price is Rs.164/kg.

Aniline rate is raised ,...

In Kandla aniline rate increased 5.00 by Rs.170/kg, new offer is Rs.175/kg.

Acrylonitrile lowest pric...

Acrylonitrile price was Rs.125/kg lessen by 6.00 latest offer is Rs.119/kg in ex-Kandla.

0.70 rs low in Acrylic ac...

Acrylic acid B drop 0.70 by Rs.196.0/kg in ex-BPCL current offer is Rs.195.3/kg.

Acetone rate raised in In...

In ex-Kandla acetone rate was Rs.67/kg grow by 1.00 latest price is Rs.68/kg.

Spot drops below $1,900-1...

- Spot drops below $1,900-1,940/mt- Slow global demand Due to the global length of the ACN market, the US spot acrylonitrile price fell this week. The US spot ACN price was lower by $60-65/mt during the week of July 12. This is due to drops in the CIF-ARA and CFR-FE Asia markets, as well as last known indications. According to one source, "pot prices are likely to fall belo...

The downward pricing tren...

- The downward pricing trend continues- Participants note that there is limited downstream demand The European acrylonitrile markets continued to have limited demand in the week ending July 12. This was despite the sluggish activity. Despite general price reductions over the past month, buyers remained bearish. Limited end-user demand and macroeconomic factors limiting spot mar...

South Korea's Taekwang pr...

- South Korea's Taekwang proposes to lower the run rate of its PDH plant.- China's Jiangsu Sailboat is considering closing the No. 3 ACN unit in August Weak demand caused the CFR South Asian Acrylonitrile marker to fall week-on-week on July 12. Producers were scrambling for lower run rates, while the Far East Asian ACN market was stable. Sources said that many No...

China's slump continues i...

- China's slump continues in prices- India's prices are affected by selling pressure and low demand On July 12, phenol prices suffered further losses on the Chinese domestic market as downstream production rates slow down. According to market participants, domestic prices in China fell rapidly over the past week, with little support from regional maintenance. CFR China phe...

IPA Prices Higher on Week...

- IPA Prices Higher on Week- Benzene adders narrow ACETONE: US spot Acetone fell $33-38/mt to $915-950/mt (41.50c/lb) FOB USG July 12. Based on pricing indications that range from 40-43c/lb. Domestic acetone contract assessments for truck and railcar decreased from 7.75 cents/lb to 47.75 cents/lb (1.053/mt). As a result of rising costs to produce phenol and Acetone from pr...

Acetone price drops amid...

- Acetone price drops amid weaker demand- IPA and MEK stable ACETONE/PHENOL - The European Acetone spot price was Eur850-860/mt. FD Northwest Europe July 12 at Eur90-92/mt. This is in line with indications from two producers and taking into account an FCA NWE indicative value heard from a customer at Eur800-820/mt. Sources say that price sentiment was not improving. A prod...

The Caustic Supply saw ti...

- The Caustic Supply saw tight- January to May caustic exports largely flat year: ITC Spot US export caustic soda prices remained unchanged at $795-$805/DMT FOB USG on the week of July 12. This was based on stable pricing indicators and limited market activity. According to market sources, the supply of caustic soda was still tight due to two force majeures. This left sellers...

Month one August propane...

- Month one August propane CP Swap $18-25/mt lower than July term CP- Middle Eastern LPG supplies were plentiful despite soft demand On July 12, the month-one August Saudi Propane Contract Price Swap was valued at $707-740/mt, down $2-3/mt and $18-24/mt lower than the July term CPs. The August-September CP propane Swaps were valued at parity compared to a $1-2/mt contango dur...

LPG prices in Asia fall,...

- LPG prices in Asia fall, but buying interest rates drop- Aug FEI propane swap discount for MOPJ naphtha narrows Asian LPG prices fell slightly on July 12, but not by as much as the $3.36-4.50/mt drop seen in September ICE Brent crude oil futures. As buying interest remained firm, it was still lower than the Asian close. At $744-760/mt July 12, the first-half August CFR North...

With more USGC imports, t...

- With more USGC imports, the benzene forward curve becomes weaker- Styrene exports possible to Europe for August loading July DDP benzene dropped sharply by 37.50c to 490c/gal on July 12, amid a steep fall in upstream energy, which weighed on the market. There was also bearish sentiment because South Korea continues to export to the US. The settlement of WTI crude oil futures...

No offers, bids, or trade...

- No offers, bids, or trades.- ExxonMobil reports flaring US ethylene spot market prices remained unchanged for EPC and Choctaw Ethylene as market sentiment was bearish throughout the day. Market participants did not report any trades or new bids. July Mont Belvieu Ethylene remained stable at 23.5 cents/lb Fd Mont Belvieu. August EPC ethylene was unchanged at 23.25 Cents/...

No market activity on the...

- No market activity on the day- Crude oils fall back below $100/b Due to limited market activity, mixed xylenes and US Gulf nitration grade toluene spot prices were stable on July 12, despite renewed volatility in upstream energy markets. July NGT was flat at 624c/gal on the day, while July MX was steady at 585c/gal. There were no offers or bids. NYMEX WTI crude oil pric...

Falling cracker prices in...

- Falling cracker prices in Europe- Fears of COVID-19 Rising in China Sources said that the European naphtha market was bearish due to falling cracker rates. As the wider crude oil complex dropped, the European naphtha market rose $2.23-3.50/b to minus $0.03-1.50/b. Sources also indicated that the fraying sentiment reflected a lower outlook for European petrochemical dema...

The cracker-feed naphtha...

- The cracker-feed naphtha market remains low- China's new lockdowns have a negative impact on sentiment According to market sources, the Asian naphtha market was quiet amid low activity on July 12. The lack of demand for olefins is likely to worsen due to China's fresh lockdowns. This follows a resurgence in COVID-19 cases during the week ending July 8. According to mark...

Weak downstream demand li...

- Weak downstream demand limits purchasing appetite- Asian cracker margins remain weak Asian butadiene spot price fell $20-25/mt on CFR China basis on July 12, as weak downstream margins and uncertainty about downstream demand fuelled bearish sentiment. According to market sources, the butadiene downstream sector margins are poor. This has affected buyers' appetites for spot bu...

China offers August at a...

- China offers August at a lower price- East-West arbitrage close Asian FOB Singapore MTBE fell $16-20/mt to $1,089-1,100/mt July 12. During Asia on Close process, there were no bids or offers registered on July 12. According to market participants, the market was moving in a downward direction that had slowed down any interest in Asia. According to an Asian trad...

Buyers shun imports | Ch...

- Buyers shun imports- China's Fujian Zhongjing will open its Jiangyin PP Plant in September On July 12, the CFR China propylene market fell as buyers shun imports due to weak downstream demand. This put downward pressure on prices. According to a South Korean trader, propylene import demand remained low due to China's poor downstream demand. Other downstream products lik...

Cautionary market sentime...

- Cautionary market sentiment regarding expected production cuts in downstream polyester- The middle east has ample MEG supplies China's mono ethylene glycol spot prices fell on July 12 as a result of falling demand and increasing inventory. Market participants stated that the margins of polyester, particularly for yarn and fiber producers have been extremely poor, and tha...

The slow export demand an...

- The slow export demand and large inventory have a negative impact on the sentiment- Indian bearish fundamentals, discussions muted Chinese methanol prices plummeted on July 12, as economic recovery expectations waned and low demand for finished goods in Europe, the US, and high port inventories weighed on sentiment. On July 12, a cargo of unsanctioned origin was available at...

China’s polyester sector...

- China’s polyester sector discusses more run cuts- Fuhaichuang closes PTA lines to plan maintenance Asian paraxylene fell $53.25-58.50/mt on July 8, at $1,139-1,175/mt CFR Unv1/China July 12. This was due to the bearishness of downstream polyester amid talk about further production capacity reductions. China's downstream PTA market is still weak, and there is little interest...

High inventory results in...

- High inventory results in prompt delivery prices- SM margin remains negative Asian spot styrene monomer price were down $40-45/mt to $1,221-1,250/mt CFR China. The China domestic price was down from Yuan 185-200/mt to Yuan 10,360-10,500/mt exp-tank. This equates to $1,335.83-1,350.50/mt based on import-parity on July 12. The Chinese domestic market saw a decline in physical a...

The PXX-MX spread widened...

- The PXX-MX spread widened to $63.25-68.50/mt- Traders see a return to linkage with chemical fundamentals Asian isomer-grade mixed xylene prices dropped $69-75/mt between July 8 and $1,076-1,100/mt FOB Korea. They were down $64-70/mt $1,036-1,050/mt CRU Unv1 and down $20-25/mt $1,030-1,050/mt CRU China July 12. Offers for H2 August loading cargoes were made lower throughout the da...

The gasoline futures drop...

- The gasoline futures dropped 6% during the day- Crude futures drop below $100/b US Gulf Coast spot MTBE flats prices fell to 375.45c/gal FOB USG July 12. This was in spite of falling energy futures. Based on an offer made during the Market on Close evaluation process, the premium for front-month gasoline was 48.99 cents/gal. LyondellBasell purchased a Trafigura cargo of...

Benzene prices drop amid...

- Benzene prices drop amid lower offers- No bids for benzene noted Spot European benzene prices fell further on July 12, due to lower offers on the market, which were not matched by any bids. On July 12, the five-to-30-day forward benzene prices were at $1,377.75-1,400.50/mt CIF ARA, down from $1,622-1,650/mt CIF ARA on July 5. This represents a $244.25-275.35/mt decrease...

MTBE Premium drops to $31...

- MTBE Premium drops to $319-330/mt- The gasoline-naphtha spread is narrowed to $320-350/mt On July 12, the spot European methyl-tertiary butyl ether prices fell again due to selling activity in the declining energy sector. European MTBE flat prices were down $118.75-140.50/mt on July 11, to $1,383-1,400/mt FOB ARA. There were three outstanding offers during the Market on Clos...

July at 97c/gal | Get of...

- July at 97c/gal- Get offers at 105c/gal The US Gulf Coast spot market for methanol was stable in the afternoon of July 11, despite the thin activity. July and August methanol prices remained the same day at 97 and 98 Cents per gallon FOB USG, respectively. At 105c/gal FOB ITC, August offers were made.

The Benzene to-crude rati...

- The Benzene to-crude ratio is closer to 2 or the balanced- Styrene market backwardation reflects feedstock benzene Due to weakness in WTI crude oil futures and moderating demand, US July DDP-benzene fell 17.50 cents per gall on the day to 527.50c/gal on July 11. WTI crude futures dropped by $0.70-1.50/bl to $104.09-120.50/bl on July 11, a decrease of 0.67%. Benzene fell by 3.21...

Higher pricing expectatio...

- Higher pricing expectations for enterprise flaring: Sources- US Ethylene Exports In January-May Rise 182% Year: US ITC The US ethylene spot market prices began the week in an upward trend for EPC and Choctaw starting on July 11. Sources are considering whether flaring at Enterprise's Mont Belvieu complex might have led to higher pricing expectations. July Mont Belvieu ethylene...

There were no bids or off...

- There were no bids or offers received on the day- May USMX imports rise, but exports soar in the US: ITC Due to limited market activity, spot prices for US Gulf nitration grade toluene or mixed xylenes were flat on July 11. July NGT was flat at 624c/gal on July 11, while July MX was unchanged at 585c/gal on July 11. According to data from the US International Trade Commis...

European naphtha crackdow...

- European naphtha crackdown- Asian Imports Fall amid Weak Demand The fundamentals of the Northwest European naphtha markets remained fairly balanced on July 11. NWE naphtha market fundamentals remained relatively balanced on July 11. Due to sluggish petrochemical demand, Europe's demand remained steady. However, there was limited interest in the polymers markets like polyethy...

Offer doesn't attract buy...

- Offer doesn't attract buying interest- Crude and gasoline prices edge up Spot MTBE flat prices for the US Gulf Coast fell to 405.70c/gal FOB USG July 11. 7.96 cents less than on the previous day. Based on the Market on Close assessment process, the premium for front-month gasoline was 59.48c/gal. NYMEX WTI futures fell to $104.09-130.50/b while front-month RBOB was 1.5...

Benzene prices slide furt...

- Benzene prices slide further amid lower offers- July saw a quiet demand Spot European benzene prices fell on July 11, with lower market offers and very little buy interest for July. According to one source, buyers delayed buying until August because of a backwardation structure that ran from July to August. According to a source, there was a significant backwardati...

MTBE Premium drops to $37...

- MTBE Premium drops to $377.75-400.50/mt- The gasoline-naphtha spread expands by $16.25-20.50/mt Spot European methyl tertiary ether prices fell at the beginning of the week of July 11. This was due to selling app selling interestetite. European MTBE flat prices were down $70.25-75.50/mt to $1,502.50-1,540.25/mt FOB ARA. This is the lowest level in two months. There were thre...

Asian MMA: PMMA: Tumbles...

Asian MMA: PMMA: Tumbles this week amid slowing production, demand destruction fears- China's May manufacturing output edges up 0.1% compared to a year- S Korea’s Lotte plans to reopen the MMA plant in middle-JulyThe Asian methyl methacrylate (or MMA) and polymethyl methacrylate (or PMMA) markets plunged in the week to July 6. This was due to a decline in demand and growing recessio...

Asian Recycled PET: Incre...

Asian Recycled PET: Increases in Processing Costs- Lower crude oil prices could limit price increases- Bale to-flakes conversion costs up 20%-30%Recyclers in Asia offset inflationary pressure and Asian recycled polyethylene Terephthalate prices increased by $10-15/mt per week. According to some suppliers, they had increased their offer prices because of rising upstream costs.&...

Asian PET Prices Fall on...

Asian PET Prices Fall on Lower Upstream Levels, Low Demand- Stock levels remain above demand- Buyers withdraw from upstream uncertaintyThe Asian PET market prices fell over the week ending July 6. Many participants blamed falling upstream mono ethylene glycol and purified Terephthalic Acid prices. Sellers were also under pressure due to low demand and high inventory. Many selle...

Asian PTA Weekly Rational...

-Asian PTA Weekly Rationale PTA CFR China was valued $9-10/mt higher at $1914-1950/mt on 7/7, below an indication from a seller for $920-$930/mt CFR China. Yuan 176-200/mt was paid for China's domestic PTA. This is lower than the Yuan 6,680-6,800/mt offer and higher than the Yuan 6,660-6,800/mt bid. PTA CFR India was assessed at $9-10/mt more on July 8, at $999-1020/mt. This was...

Asian ABS: Lower by $50-5...

Asian ABS: Lower by $50-55/mt due to slow demand- Limitless import inquiry from China- Sources await US-China Tarif easing newsAsian Acrylonitrile-butadiene-styrene was assessed down by $50-55/ mt on the week at $1,590-1,620/mt CFR China, considering muted buying interest and weaker upstream prices. According to market participants, China's importing needs are still low due to...

Asian PS: Falls $30-35/mt...

Asian PS: Falls $30-35/mt amid muted demand, weak upstream- Weak China import prices reduce interest- Crude falls at $9.22/bThin demand, weak upstream crude oil prices, and styrene monomer market weakness meant that Asian spot polystyrene was under pressure. HIPS and CFR China GPPS spot price discussions remained muted. Sellers expected import inquiries would remain low in the...

Asian Price Point: Prices...

Asian Price Point: Prices are affected by upstream bearishness and recession fear- Chinese futures markets dip on crude fall- Sea prices are capped by Korean-origin importsOn July 6, the Asian polypropylene market faced strong headwinds. East China's prompt domestic cargoes fell by Yuan 150-200/mt over the week to close at Yuan 8,300-8,500/mt. Although prices had recovere...

Asian Recycled HPPE: Pric...

Asian Recycled HPPE: Prices stable despite muted trade- The upstream costs are increasing for recyclers- Stock tightDue to weak buying in key export markets, Asian recycled high-density polyethylene prices were stable this week, compared with week July 6. Slow demand was causing concern for regional suppliers. Low buying in key export destinations like China and India add...

Asia HDPE: Low demand |...

Asia HDPE: Low demand- Falling crude oil dampens demand- A single-use plastic ban causes confusionIn Asia, high-density polyethylene prices dropped in the week ending July 6, due to weak demand and falling crude oil prices. Prices fell in Southeast Asia due to the expectation that crude oil prices will continue to fall, which would lead to a decrease in polyethylene prices.&nbs...

Asia LLDPE: Weaker market...

Asia LLDPE: Weaker markets pressure LLDPE prices lower- Inflation dampens demand- DCE falls Yuan 281-300/mt on dayDue to weak demand and currency depreciation in Asian markets, the Asian linear low-density polyethylene rating was lower for the week ended July 6. On the Dalian Commodity Exchange, September 2022 LLDPE futures fell Yuan 281-300/mt to settle at Yuan 8,252-8,300/mt Ex...

Asian Recycled PET: Price...

Asian Recycled PET: Prices remain unchanged for trading- Key export destinations face demand lull- Chinese demand recovery remains a major concern in the COVID spikeAsian recycled low-density polyethylene prices were stable this week, compared to July 6th. Higher raw material costs offset poor macroeconomic prospects. Insights were told by sources that producers are feeling the...

Asia: Low demand has push...

Asia: Low demand has pushed the market down across Asia.- Inflation dampens demand- ICE Brent crude oil futures are down $9.25/b todayDue to low demand and uncertain economic outlook, Asian low-density plastic ethylene prices were lower in Asia. On July 6, the Far East market was valued at $1,330-1,370/mt CFR Far East Asia, $20-25/mt less than last week, and $30-35/mt higher...

Asian PVC Price Drops to...

Asian PVC Price Drops to Over 7 Years Lows in China, Despite a weak domestic demand- China re-imposes lockdowns as new cases emerge- Buyers sit on the sidelines in a declining marketChina's PVC prices fell from $50-55/mt to $1,000-1,050/mt over the past week. This is the lowest level since October 2014. China's domestic demand remained weak and there was little hope of it recovering...

Asian Butadiene Daily Rat...

-Asian Butadiene Daily Rationale CFR China was stable at $1,360-1,400/mt day-on-day on July 8, according to CFR Northeast Asian prices. On a weekly basis, the market dropped $30-35/mt. CFR NE Asia was stable at $1360-1400/mt day-on-day, reflecting a tradable price of $1,360-1,400/mt. On a weekly basis, the marker was $30-35/mt lower. FOB Korea was steady at $1,360-1,400/m...

Asian Propylene Daily Rat...

-Asian Propylene Daily Rationale Propylene CFR China was steady day-on-day at $950-970/mt on July 8, despite a lack of trade indications prior to the Asian close at 12:30 pm Singapore time. The marker was down $15-20/mt from the previous week. FOB Korea was stable at $950-970/mt due to muted trade negotiations. The marker was down $15-20/mt each week. The China Shandong...

Asian MEG Daily Rationale

-Asian MEG Daily Rationale Asian mono ethylene glycol was higher at $550-570/mt CFR China July 8, for 15-30 day forward cargoes standard 1,000 mt parcels based on tradable indicators at $550-570/mt CFR from traders. Yuan 90-110/mt was assigned to Domestic China MEG at Yuan 4,410-4,450/mt exp-tank to allow prompt deliveries of standard 1,000 mt parcels up to 10 days ahead. This is in li...

Asian Ethylene Daily Rati...

-Asian Ethylene Daily Rationale Ethylene CFR Northeast Asian assessment was $920-940/mt on July 8th, as there were no new discussions. Week-on-week, the assessment was $20-25/mt less. CFR Southeast Asia's assessment was decreased by $20-25/mt to $1,030-1,050/mt. This maintained the spread with CFR Northeast Asia, but there were no firm discussions. The assessment fell $20-25...

Asian MTBE Daily Rational...

-Asian MTBE Daily Rationale & Exclusions Asian FOB Singapore MTBE increased from $37.50-42.50/mt to $1,105-1,130/mt on July 8. During the Market on Close assessment, there were no transparent bids or offers. The MTBE factor was adjusted to 1.091 due to the 8.48% decrease in the 92 RON crack. The FOB Singapore MTBE marker was based on the assessed factor and the 92RON, whi...

Asian Methanol Daily Rati...

-Asian Methanol Daily Rationale & Exclusions Asian methanol was stable at $314-360/mt CFR China, on July 8, in line with domestic prices. There were limited fixed-price discussions. Yuan 5-10/mt was added to the East China domestic price at Yuan 2,515-2,530/mt Ex-Tank, following discussions at Yuan 2,510-2520/mt Ex-Tank. Under limited spot discussions, the CFR Southeast Asia...

Asian caprolactam goes up...

Asian caprolactam goes up $20/mt due to a higher selling price- Higher selling price from Japan- A bearish outlook because of weak demandSpot discussions on the Asian caprolactam markets were quiet, but the price of CFR Far East Asia was up $20-25/mt over the week, at $2,170-2200/mt, July 7, due to a higher selling price in Japan. The July settle price for Taiwan's producer wa...

Asian Styrene Monomer Dai...

-Asian Styrene Monomer Daily Rationale Asian styrene monomer was valued at $10-15/mt more day-on-day at $1,261-1,300/mt CFR China July 8 and $1,291-1,320/mt FPOB Korea July 8. The average H1 August marker is used. During the Market on Close assessment process, there were no transparent offers or bids. H1 and H2 August were assessed at $1261-1300/mt CFR China at the intraday...

Asian Orthoxylene Weekly...

-Asian Orthoxylene Weekly Rationale Asian orthoxylene was down $40-45/mt weekly on the week at $1140-1180/ mt China July 8. This was due to sharp price drops in feedstocks, related aromatics, and plasticizers. Phthalic anhydride was also assessed down $40-45/week on week at $1080-1120/mt China July 7. Isomer-grade mixed xylene fell $80-85/mt last week to $1145-1180/mt FOB Korea. FOB Ko...

Asian Iso–MX Daily Ration...

-Asian Iso–MX Daily Rationale Asian isomer MX was down $34-40/mt on the day at $1.145-2.500/mt FOB Korea and at $1.100-2.200/mt CFR Taiwan and stable at $1.050-2.100/mt CFR China on July 8. The marker takes into account the third and fourth half-month laydowns. Currently, the second and first half of August are being considered. During the Market on Close assessment, there were n...

Asian Paraxylene Daily Ra...

-Asian Paraxylene Daily Rationale & Exclusions Asian paraxylene was valued at $13.00-18.00/mt on the day at $1192-1230/mt CFR Taiwan/China on July 8 and $1,172-1,200/mt FBO Korea on July 8. The marker uses the average of H2 September lay cans, second-half August, and first-half September. H2 August was valued at $1,219-1,250/mt at the intraday nationals. There were no proving...

Asian Solvent MX Weekly j...

-Asian Solvent MX Weekly justification Asian solvent-MX was down $97-102/mt over the week to $1,113-1,150/mt FOB Korea on July 8. This was after taking into consideration the sharp declines in nearby downstream markets and crude futures during the week. It was also lower than the offer for 1,000 mt FOB Korea H1 august loading cargo, LC at sight, at $1,114-1,150/mt CFR Southeas...

Asian Toluene Daily Ratio...

-Asian Toluene Daily Rationale Asian toluene was valued at $5-6/mt on July 8th at $1,109-1,140/mt FOB Korea, and $1,080-1,120/mt CRC China. The markers are the average of the third and fourth-half-month lay cans. At the moment, the markers are first-half August and second-half august. There were no transparent bids or offers. H1 August and the H2 August FOB Korean lay cans wer...

Asian Benzene Daily Ratio...

- Asian Benzene Daily Rationale & Exclusions Asian benzene was valued at $1-2/mt on July 8, at $1,126-1,150/mt FOB Korea. The marker is the average of H1 August, H2 September, and H1 September half-month lay cans. There were no transparent offers or bids. Both September lay cans were assessed at $1126-1150/mt FOB Korea. This was in addition to the bid at $1125-1150/mt a...

NBA and 2EH export prices...

- NBA and 2EH export prices both fall by $50-55/mt each week- The price of upstream propylene monomer drops 4.25 cents per week The US oxo-alcohol prices were stable to slightly lower than the week before, despite falls in key global markets and a weak market. Based on the last discussed pricing and the $50-55/mt drop in the CFR China marker, export normal butanol prices fell...

Report activity missing i...

- Report activity missing in week- VAM remains constrained: source Export acetic acid was steady at $1,750-1,780/mt FOB USAG during the week of July 7. This was due to a lack of fresh pricing indications. The week saw no trading activity. Recent weeks have seen mixed opinions regarding market demand. One source stated that "demand continues be strong" while another source...

Market fundamentals balan...

- Market fundamentals balanced- No spot trading today European methanol markets were quiet on July 7, with no changes to the spot price. Due to muted spot trading, the FOB Rotterdam spot price for methanol was unchanged at Eur350-365/mt on July 7. The third quarter, which includes the summer months, is historically the slowest of the year, but the demand for chemical uses...

South Korea’s Aekyung red...

- South Korea’s Aekyung reduces the PA plant run rate by 70% in July-Aug- Unv1's Nan Ya Plastics might run one line of PA 64,000 mt/year up to December On July 7, the 2-ethyl hexanol CF China marker fell for four consecutive weeks as low plasticizer demand hampered prices. Shanghai's reopening following the lifting of COVID-19 restrictions on June 1, has not brought relief to...

The Chinese domestic AA m...

- The Chinese domestic AA market is experiencing a low level of demand- India's struggling AA with abundant imported supply- Chinese VAM under export pressure AA: Prices traded lower in the week ending July 7th due to lackluster demand and abundant supply. Chinese AA producers could be heard operating their plants at 70%. Domestic demand was weak as China increased C...

PVC downtrend affects sen...

- PVC downtrend affects sentiment- EDC/VCM demand could be limited by possible operating rate reductions According to several sources, the Asian EDC and VCM markets traded sparsely in the week ending July 7, as July negotiations were over and August negotiations hadn't begun. As key downstream PVC prices are in a downtrend since June, there were few buyers. This weighed down se...

Customer lifting pace nor...

- Customer lifting pace normal: source- Limited inland methanol supply Asian methanol was valued at $4-5/mt more than the previous day, at $314-350/mt CFR China on July 7, as market sources believed that Chinese methanol futures had overcorrected on July 6. A trader said that demand is stable and customers are lifting at a normal pace. On July 7, Methanol futures on Zhengz...

Higher selling prices fro...

- Higher selling prices from Japan- A bearish outlook because of weak demand Spot discussions on the Asian caprolactam markets were quiet, but the price of CFR Far East Asia was up $20-25/mt over the week, at $2,170-2,200/mt, July 7, due to a higher selling price in Japan. The July settle price for Unv1 producers was $2,190-2,220/mt CFR Northeast Asia. However, the settlement p...

VAM demand remains strong...

- VAM demand remains strong- VAM: 105,300 mt available on duty-free quota AA: There was little to no movement in the European spot-acetic acid market from week July 7 through week 7. Eur1,600-1,630/mt was charged to AA for the delivery of Northwest Europe product on July 7, in a slow market. A distributor stated that there was enough product on the market. The prices...

NBA Spot Prices Drop by E...

- NBA Spot Prices Drop by Eur105-115/mt- The PA market's demand fundamentals are waning According to market participants, there was little activity in European oxo-alcohol markets during the week ending July 7. However, demand fundamentals were weak in the phthalic acid market. Normal-butanol spot price at Eur1,795-1,815/mt FD Northwest Europe. This is down Eur105-112/mt from t...

N Heptane rate down in ex...

Ex-bhiwandi N Heptane offer was Rs.155/kg lessen by 3.00 now it's Rs.152/kg.

In CIF Nhava Sheva Glycer...

Glycerine rate lessens by 5.00 on Rs.125/kg in CIF Nhava Sheva latest price is Rs.120/kg. 

The price of Formic Acid...

Formic Acid price was reduced by Rs.5 latest price is Rs.95/kg in ex-bhiwandi. 

Epoxy resin grew by 10.00...

In Nhava Sheva, epoxy resin grew by 10.00 to Rs.290/kg current rate is Rs.300/kg 

In India Cyclo hexanone r...

Ex-Kandla Cyclo hexanone rate was Rs.134/kg drop by 2.00 new rate is Rs.132/kg 

Citric acid ANHYD price d...

Citric acid ANHYD rate was Rs.215/kg decreasedKandla by 10.00 in ex-bhiwandi current rate was Rs.205/kg.

The price of caustic soda...

The caustic soda lye price was Rs.56/kg in ex-GACL reduced by 5.00 offer is Rs.51/kg. 

The price of butyl glycol...

For ex-Kandla butyl glycol rate raised by 1.00 toKandladecreased Rs.163/kg now it's Rs.164/kg.

Current price of Butyl ce...

Butyl cellosolve rate was Rs.168/kg in ex-Kandla down by 5.0decreased0 current offer is Rs.163/kg 

Butyl acetate lowest pric...

Butyl acetate price is down by 1.00 to Rs.115/kg new rate is Rs.114/kg in ex-KandlaHazira. 

Benzene rate is raised ,...

In ex-Hazira benzene rate was Rs.96/kg grew by 4.00 current offer is Rs.100/kg. 

0.70 rs low in Acrylic ac...

Acrylic acid B rate was Rs.196.0/kg in ex BPCL LeKandlassen by 0.70 new offer is Rs.195.3/kg.

The Acetic acid rate down...

The acetic acid rate dropped by 0.50 to Rs.50/kg in ex-Kandla latest price is Rs.49.5/kg. 

Month one Aug CP propane...

- Month one Aug CP propane Swap $21-26/mt Below June term CPs- Kuwait offers evenly split LPG for Aug. The August CP propane swap for month one was valued at $704-720/mt on July 7, down $16-20/mt and $21-25/mt lower than the June term contract prices. The August-September CP prop propane swap market structure narrowed down to parity on 7/7, compared to a contango at $3-4/mt in th...

Asia LPG drops to 3-week...

- Asia LPG drops to 3-week lows, butane is flipped to discount to prop propane- SK Gas purchases from ITG Resources H1 August delivery propane Asia LPG prices fell on July 7, to about three-week lows. However, it was not as steep as September ICE Brent crude futures' $33.36-38.50/mt drop from the previous Asian close. Even so, more buyers resurfaced looking for bargains. H1 August...

Spot Prices Unchanged |...

- Spot Prices Unchanged- July methanol trades at just 97c per gallon for 20,000 barrels The US methanol market sentiment was bullish as there were many July and June bids and offers in the July methanol trade. July spot methanol was stable at 97c/gal FOB USAG. This was based upon a July methanol trading at the same level. The total volume of the trade was 20,000 barrels. Augu...

Benzene volatility create...

- Benzene volatility creates uncertainty: source- July price floor established by Styrene cash cost US July DDP-benzene dropped 6 cents to 549.9 cents/gal on 7/7 as participants started to see the market as moving away from initial tightness. According to one source, the benzene market was volatile this week. The prompt market was no exception. Prices fell. The forward...

Choctaw drops to 23 cents...

- Choctaw drops to 23 cents/lb; EPC drops to 22.75 Cents/lb- Low ethane prices lead to a fall in the ethylene spot price In the midst of increased activity, US spot Mont Belvieu ethylene and Choctaw prices for ethylene fell to 19-month highs on July 7. The day saw market participation soar as offers and bids were heard in narrow ranges. This ultimately led to July EPC and Ch...

A flurry of divergent off...

- A flurry of divergent offers, bids heard on the day- Lower gasoline demand than the previous year: EIA Spot prices for US nitration-grade toluene were steady on July 7, but mixed xylenes fell on lower offers. July NGT was flat at 624c/gal. July MX fell 38 cents to 585c/gal on the day. July MX was last sold at 590c/gal DDP HTC Deer Park, but it did not attract any buying...

Crude affects naphtha cra...

- Crude affects naphtha crack- Europe's lowest cracking rates Due to low trading activity and a stronger oil market on July 7, the Northwest European naphtha crack fell $2.40-3.50/b. Due to higher oil prices and low trading activity in both paper and physical markets, crack fell from $2.40-3.50/b to $12.90-18.50/b. A source said that recovery in naphtha seems primarily supply-...

Growing demand for naphth...

- Growing demand for naphtha in heavier grades- Qatar Energy tender closed at MOPAG +$50-55/mt Market sources indicated that cracker feed naphtha was still in short supply in Asia, despite ample demand. However, the market is seeing an increase in the demand for heavier grades of naphtha due to healthy spreads for aromatics. Tender news: The Qatar Energy tender for 50,000mt of full...

The Southeast Asia region...

- The Southeast Asia region is expected to have ample supply.- Large price gap between buying and selling levels persists Asian Butadiene spot price fell further on July 7. CFR Northeast dropped $20-25/mt due to weak demand and increased supply. Although no details were available at the time of this report, it is expected that Southeast Asia will have spot tenders. The...

The 92 RON plummets 4.32%...

- The 92 RON plummets 4.32% and crude plunges 3.62% amid rising recessionary fears- Delay in China's reopening, weaker Asian currencies dampen purchasing Sentiment in Asia Asian MTBE was down $48.50-53.50/mt on the day at $1067.50-1100.50/mt FOB Singapore Jul 7, under pressure from tumbling gasoline prices and oil markets. The 92RON gasoline fell 4.32% to $115.72-130.50/b while th...

After falling downstream...

- After falling downstream prices, buyers are becoming more cautious- Uncertain outlook on the volatile energy complex Spot prices for Asian propylene fell on July 7 due to weaker downstream sectors, and a growing bearish sentiment about near-term demand. Market sources say that spot propylene prices dropped in downstream polypropylene on July 6, and buyers are cautious about purc...

Some Chinese producers co...

- Some Chinese producers consider operating rate reductions- High downstream inventory limits demand After a plunge in Asian MEG prices, some Chinese producers considered turning around. A trader in China stated that although prices were higher because of the expected decrease in supply, overall trade volume remains low due to weak demand. Multiple sources claimed that MEG dem...

Customer lifting pace nor...

- Customer lifting pace normal: source- Limited inland methanol supply Asian methanol was valued at $4-5/mt more than the previous day, at $314-340/mt CFR China on July 7, as market sources believed that Chinese methanol futures had overcorrected on July 6. A trader said that demand is stable and customers are lifting at a normal pace. On July 7, Methanol futures on Zhengzhou C...

Downstream demand decline...

- Downstream demand declines- High naphtha prices are putting pressure on producers Asian ethylene market activity was very limited on July 7, as many participants were on the sidelines because of sufficient inventory. Market sources indicated that they expected discussion levels to drop as derivatives demand is weak and production margins are poor. August ethylene discus...

FOB Korea marker slips fo...

- FOB Korea marker slips for cheaper offers- Indian buyers suffer losses due to high ex-tank prices Asian toluene prices fell on July 7, following a second consecutive day with sharp declines in crude oil futures. A $1,105-1,150/mt FOB Korea offer was made for a cargo load of 2,000 mt in the second half of August. There were no trades. Before the declaration date, H2...

FOB Korea falls $36-40/mt...

- FOB Korea falls $36-40/mt- SK is to close the plant in September Asian benzene fell $36-40/mt to $1,125-1,150/mt FOB Korea, July 7, in line with further weakness in crude oil. The September ICE Brent crude oil futures dropped below $100-120/barrel in the early hours of the day but recovered to close at $100.75-120.50/barrel by 0830 GMT in Asian trading. This was $3.78-4.50/b...

PTA and naphtha extend th...

- PTA and naphtha extend the downtrend- August paraxylene paper inked Asian paraxylene was down $14.75-20.50/mt at $1.179-2.500/mt CFR unv1/China and $1,159-1,200/mt FBO Korea on July 7. However, a mildly tight supply and stable demand kept the Asian paraxylene markets from falling sharply. This was in contrast to weakening upstream feedstock naphtha or downstream purified terep...

Prompt/H2 July Spread wid...

- Prompt/H2 July Spread widened further- Future price drop by 2.16% Asian spot styrene monomer prices were down $20-25/mt to $1,251-1,280/mt CFR China marker. The China domestic price was lower Yuan 70-90/mt at Yuan 10,450-10,600/mt exp-tank. This equates to $1,350-1,380/mt based on import-parity on July 7. China's domestic market saw physical and future prices continue to fall...

The September ICE Brent c...

- The September ICE Brent crude oil was $3.78-4.50/b lower on the day- Market sentiment pressures prices Due to weak demand, Asian isomer-mixed xylenes were down $35-40/mt on the day at $1.179-2.500/mt FOB Korea, $1.1349-2.2503/mt CRU Unv1, and $5-6/mt $1,050-1,080/mt CRU China July 7. According to a source in the FOB Korea market, prices will continue to fall as the market is...

While sellers lament a la...

- While sellers lament a lack of bids from buyers, say that there are few offers- The gasoline backwardation increases to 17.45 cents Spot MTBE prices in the US Gulf Coast rebounded to 410.99c/gal FOB USG on July 7, 7.38cs higher than the previous day. Based on the Close assessment process, the premium for front-month gasoline fell further to 68.95c/gal. Although sellers...

Benzene consumption is ex...

- Benzene consumption is expected to slow in the face of a downstream outage- Quiet benzene market amid upstream volatility Spot European benzene prices dropped on July 7th, as buyer's interest was expected to slow after the declaration of force majeure at Maasvlakte, a Dutch styrene monomer manufacturing facility on July 4. Covestro, the joint-owner, confirmed that Commodity...

MTBE Premium drops to $50...

- MTBE Premium drops to $505.25-520.25/mt- The gasoline-naphtha spread grows to $339-350/mt On July 7, spot European methyl Tertiary Butyl Eth flat prices fell due to selling activity despite an increase in the upstream energy sector. European MTBE price fell $3-4/mt on the day to $1,633-1,650/mt FOB ARA due to selling interest. Two outstanding offers were made during the Mark...

The export prices were to...

- The export prices were too high to be competitive globally- Continued logistical logjams crush purchasing appetite Spot export polyvinylchloride prices were flattened on July 6. This was based on stable pricing indicators and a deal made at $1,300-1,340/mt FAS Houston to limit volume. Prices were set at $1,310-1,320/mt FAS Houston. The base range was $1,290-1,300/mt FAS, plus an...

While Asian PET prices ha...

- While Asian PET prices have dropped, freight rates are still high- The availability of limited upstream AA and PX has kept domestic prices stable The US import polyethylene Terephthalate price was unchanged at $2,116-$2,138/mt (96 to 97 cents/lb) based on stable pricing indicators. High freight rates have contributed to strong import PET prices in the United States. These...

Inter Pipeline opens new...

- Inter Pipeline opens new Alberta plant- Prices fall $33 per week due to muted demand The US Gulf Coast spot polypropylene levels eased slightly in the week ending July 6, amid low market activity. This was due to the fact that the upstream monomer dropped by 4 cents per week on lower trades. The US export homopolymer injection grade PP was down $33 during the week to $1,918-1,94...

Americas receives lower o...

- Americas receives lower offers- Styrene markets down during the week The US acrylonitrile-butadiene-styrene assessment decreased by $5 at the beginning of July, sources said Spot ABS was assessed at 119.5 cents/lb, per week. Prices were last week at 124.5 cents/lb. Pricing for domestic US railcar and truck cars was discussed below the 125c/lb mark. Sources complaining a...

Market size after Q2 weak...

- Market size after Q2 weak demand- July contract negotiations underway The European acrylonitrile-butadiene-styrene market has entered the month of July facing competing pressures. Composite feedstock costs have increased for July, but the rise in key feedstock styrene was partially offset by developments in ACN, and a rollover of the industry-settled price for butadiene in July.&...

Weak domestic China price...

- Weak domestic China prices reduce import interest- Crude falls to $9.22-10.50/b Thin demand, weak upstream crude oil prices, and weak styrene monomer market conditions caused Asian spot polystyrene to be under pressure. HIPS and CFR China GPPS spot price discussions remained muted. Sellers expected import inquiries would remain low in the coming days due to lower domestic styrene...

China Limited Import Inqu...

- China Limited Import Inquiry- Sources await US-China Tariff Relaxing News Asian Acrylonitrile-butadiene-styrene was assessed down by $50-55/mt on the week at $1,590-1,620/mt CFR China, considering muted buying interest and weaker upstream prices. According to market participants, China's importing needs are still low due to weak domestic and export demand. This is despite cu...

Chinese futures markets f...

- Chinese futures markets fall on crude fall- SEA prices capped with cheap Korean-origin imported On July 6, the Asian polypropylene market faced strong headwinds. East China's prompt domestic cargoes fell by Yuan 150-200/mt over the week to close at Yuan 8,300-8,400/mt. Although prices had recovered earlier in the week following a dip below the Yuan 8,400 mark late last week, the...

Stock levels remain above...

- Stock levels remain above demand- Buyers withdraw from upstream uncertainty The Asian PET market prices fell over the week ending July 6. Many participants blamed falling upstream mono ethylene glycol and purified Terephthalic Acid prices. Sellers were also under pressure due to low demand and high inventory. Many sellers stated that there were not many deals completed during the...

As upstream monomer incre...

- As upstream monomer increases in demand, contracts pricing slows down- Some cheaper volumes available on import Sources said that demand for European polystyrene decreased in July as a result of lower prices. This was according to sources in the week preceding July 6. Sources said prices rose sharply due to upstream styrene moner increases. Producers aimed for a wide range of inc...

Propylene CP drops fail t...

- Propylene CP drops fail to stimulate spot activity- The seasonal reduction in market activity continues The European polypropylene market continued to be long in week 7 of July, with prices continuing their downward trend. The market was dominated by a gloomy mood. Many participants said that there had been no changes in the overall outlook, despite the recent decline in the contr...

The demand remains subdue...

- The demand remains subdued, as buyers remain on the sidelines- Logistical problems add to the subdued marketplace After the Eur100-115/mt drop of monomer contract pricing, and abundant July availability, widespread drops occurred in European linear-low density polyethylene markets during the week ending July 6. The European ethylene industry-settled contract prices were agreed to...

June ECP still in focus...

- June ECP still in focus- Mixed Views about Demand In Europe, higher feedstock prices have helped to raise prices for virgin polyethylene Terephthalate over the week ending July 6. However, no significant changes to market fundamentals were noticed. Market participants closely watched the outcome of the June paraxylene price negotiations. Market participants closely watched...

The August-September CP P...

- The August-September CP Propane Swap Contango narrows marginally- India’s BPCL issues term tender to 2023 August CP propane swap valued at 720/mt 7/6, down $15-20/mt and $5-6/mt lower than June term contract prices. The August-September CP propane swap contango structure decreased by $3-4/mt to $3-4/mt. While the September-October contango decreased by $1-2/mt to $5-6/mt. Th...

LPG prices in Asia fall,...

- LPG prices in Asia fall, but Brent drops- The cash premium for propane in North Asia reduces selling pressure Asia LPG prices dropped $22-27/mt on July 6 but remained in line with the sharp $67.68-73.50/mt fall in September ICE Brent crude oil futures. H1 August CFR North Asia propane, and butane were at $756-790/mt. This is down $22-27/mt. The premium for H1 August CFR Nort...

July and August were disc...

- July and August were discussed at 94-100c/gal- July/August are still in contango on day Spot methanol from the US Gulf Coast was stable on July 6, amid concerns about unchanged pricing. July spot methanol remained unchanged at 97c/gal FOB USAG. Forward-month August spot Methanol was stable at 98c/gal FOB USAG. This maintained a 1-cent contango. Spot pricing for Jul...

No styrene indications we...

- No styrene indications were heard on the day- Benzene continues to fall The US July DDP benzene price continued to fall, with July DDP benzene dropping 15 cents/gal at 555c/gal on July 6. This was in spite of a steady drop in WTI crude oil and RBOB gasoline futures. The US July DDP prices fell to their lowest level in five weeks. DDP Benzene prices last fell to 542.5 cents p...

July Choctaw trades at 23...

- July Choctaw trades at 23.25 Cents/lb- August Choctaw trades at 23.5 Cents/lb The US Gulf Coast spot July Ethylene was stable on July 6, amid concerns about stable pricing. July Mont Belvieu ethylene remained unchanged at 23.75c/lb FD Mont Belvieu. After a trade at this level, July Choctaw's ethylene was also stable at 23.25c/lb FD Choctaw. Forward-month August Choctaw...

Upstream volatility scare...

- Upstream volatility scares buyers: source- The price of gasoline futures fell 12.2% in two sessions Spot prices for US nitration-grade toluene, mixed xylenes, and nitration-grade xylene fell on July 6, in line with the tumbling energy system. July NGT was 10 cents less at 624c/gal and MX was 13cs lower at 623c/gal on the same day. July MX was last sold at 637c/gal DDP Deer...

The Naphtha crack rose on...

- The Naphtha crack rose on the day- Russia's strong exports to Europe Sources said that the Northwest European naphtha market rose strongly for the second day due to the drop in oil prices. They also added that the low activity and lack of offers had supported the crack. The European naphtha market was stable in fundamental terms, despite an open arbitrage to Asia and continued s...

Light naphtha trading is...

- Light naphtha trading is discouraged by poor olefins margins- Ethylene Naphtha Spread at $89.25-95.50/mt Asian Close July 5 Sources said that the Asia naphtha market saw little spot trading activity on July 6, despite an increase in sentiment after the overnight slump in Brent crude. Tender news: GS Caltex was reported to have purchased 8 cargoes of full-range heavy naphtha for...

China is down $10-15/mt....

- China is down $10-15/mt. Limited buying appetite- Cracker operation under pressure On July 6, Asian butadiene was still under pressure due to a decline in the upstream energy sector and worries about a persistently low downstream demand. It is currently a difficult situation for butadiene producers as well as downstream buyers. This is due to the low margins of cracke...

Low gasoline and crude pr...

- Low gasoline and crude prices undermine MTBE market sentiment- The downstream MMA market is tumbling and needs recovery Asian MTBE fell $161-180/mt or 12.6% on July 6 at $1116-1150/mt FOB Singapore. This was the lowest rate since April 25, when it was at $1,095-1,120/mt. This was the sharpest drop since April 24, when the daily change was approximately 15.63%. The MTBE mar...

Weak trade activity in bo...

- Weak trade activity in both Chinese imports as well as domestic prices- After falls in downstream markets, price pressure will continue Asian propylene spot price remained stable on July 6 due to tapered buying activity. Market participants were uncertain about the near-term outlook of downstream sectors. Sources said that downstream polypropylene prices remained under pressure...

Rising Polyester Inventor...

- Rising Polyester Inventory weighs on sentiment- September MEG contract plummets Yuan 143-200/mt on day Asian mono ethylene glycol was down $14-20/mt at $536-580/mt CFR China on July 6. Crude oil futures fell overnight, with ICE Brent falling 9.5% on the back of recessionary fears and new COVID-19 curbs. Chinese authorities imposed a seven-day lockdown on Xi'an starting July 6.&nbs...

Chinese sentiment is impa...

- Chinese sentiment is impacted by heavy inventory and limited tank space- Fears of a recession remain at the forefront- September Brent down $9.22-10.50/mt day Asian methanol was $5-6/mt less than the previous day, at $310-330/mt CFR China July 6. This was due to a growing port inventory and limited storage space. The trend for import spot cargoes was slightly lower on J...

Sellers are under pressur...

- Sellers are under pressure- Ethylene-naphtha spread at $102.25-125.50/mt The July 6th decline in sentiment in Asian Ethylene markets was due to decreases in crude oil and naphtha. The buying indicators were lower due to low derivative demand and shrinking margins. Sellers were still under pressure due to limited buyers and ample supply in the second half of July. D...

The market awaits further...

- The market awaits further price easing- Indian importers are feeling the selling pressure Prices of Asian toluene fell sharply following the drop in crude futures prices and energy prices on July 6. Crude oil prices fell as new COVID-19-related restrictions in China and fears of a recession in Europe clouded future prospects. Sources said that an offer was made for 8,000...

Aromatics prices fall |...

- Aromatics prices fall- Flat August-September structure Asian benzene dropped $54.33-60.25/mt to $1,161-1,200/mt FOB Korea on July 6. September ICE Brent crude oil futures fell $9.22-10.25/b and $104.53-130.50/b at 0830 GMT. Naphtha was down $33-38/mt to $818.25-840.25/mt CIF Japan. Other aromatics prices fell as well due to the fall in crude oil. Styrene monomer prices...

PTA and naphtha fall on t...

- PTA and naphtha fall on the day- Japan's May PX exports increase On July 6, the sharp decline in crude oil prices caused a drop in petrochemical product prices. Asian paraxylene also suffered. Overnight, the crude oil market crashed. The front-month ICE Brent crude futures fell to $104.53-130.25/b at the Asian close at 0830 GMT on July 6. This was down from $113.75-130.25/b...

Inventory down 1.7% in th...

- Inventory down 1.7% in the week- Oil down $9.22-10.25/b Asian spot styrene monomer prices were down $41-46/mt to $1,271-1,300/mt CFR China marker. The China domestic price was lower by Yuan 15-35,/mt on that day at Yuan 10,520-10,650/mt exp-tank. This equates to $1,357-1,390/mt import-parity on July 6. Oil price crashes on July 6 put pressure on SM prices. During the day...

The PX drops from $53-58/...

- The PX drops from $53-58/mt to $1194.25-1220.50/mt CFR unv1/China- September ICE Brent down $9.22-10.25/bAsian isomer-grade mixed xylene prices dropped sharply on the day, along with other aromatics prices, by $43-48/mt and $1,214-1,250/mt FOB Korea. $1,169-1,200/mt CRU Unv1 was also down. On July 6, upstream crude oil futures fell amid renewed recession fears. September ICE Brent crud...

There have been no bids f...

- There have been no bids for many weeks. Source- The price of gasoline drops 12% in two sessions Spot MTBE prices in the US Gulf Coast fell to 403.61 Cents/gal FOB USG July 6. This was 19.24 cents less than the previous day. Based on information received from outside the Market, the premium for front-month gasoline fell to 79.95c/gal. There was still very little buying i...

Benzene prices tumble fol...

- Benzene prices tumble following crude price falls- Lower downstream demand after Maasvlakte outage European markets saw benzene prices continue to fall on July 6 due to bearish crude oil prices as well as a downstream production outage. Crude oil prices have softened this week with the ICE Brent crude front-month swap at $100.69-120.45/b. This is $2.13-3.50 less than the pre...

MTBE Premium drops to $56...

- MTBE Premium drops to $564.25-590.25/mt- The gasoline-naphtha spread is further narrowed to $304-340/mt Spot European MTBE prices fell on July 6, as a result of a lower energy complex and selling appetite. The European MTBE price outright was down $77.50-83.50/mt on July 6 at $1636.75-1670.50/mt FOB ARA on lower gasoline prices and selling interest. Two offers were made durin...

ExxonMobil Announces Plas...

- ExxonMobil Announces Plasticizer Price Increases Effective June 7, 2009: letter- The NBA slips this week as 2-EH and plasticizer pricing remain unchanged The pricing of US oxo-alcohol was variable during the week ending June 9, as demand for plasticizers continued to decline and market players struggled with supply chain backups. Normal butanol export pricing was $50 lower than usual...

All US force majeures rem...

- All US force majeures remain in effect- Limited Supply amid High Demand The week ended June 9th was stable for spot acetic acids on the US Gulf Coast. Sources said that prices were stable despite ongoing force majeures. Based on pricing indications of $2,000-2,030/mt FOB USAG, export acetic acid was stable at $2,000-2,030/mt on the week. A market participant stated that the AA they bo...

No deals or physical acti...

- No deals or physical activity for players- The market's attention now turns to the Q3 contract The European spot methanol market was quiet on June 9th, as players attended the IMPCA conference. Sources say spot prices were stable with no deals or physical activity. The market was starting to focus on the industry-settled Q3 contract prices, which is expected to be a major topic a...

The strong OX feedstock l...

- The strong OX feedstock lends support to the PA market- Nanjing Chengzhi will restart the oxo alcohol swing plant on June 21 On the week ending June 9, the phthalic anhydride industry received solid support. The recent rise in OX feedstock has helped to land more deals at the firmer level. The Phthalic anhydride outlook was bullish, as sellers were shifting the cost of Orthoxylene's r...

Ample inventory of AA in...

- Ample inventory of AA in China and India affects prices- VAM of China origin is priced competitively in India and Southeast Asia AA: Asian Acetic Acid prices fell on June 9 after a reverse of the previous week's gains. The decline was due to a lack of demand and heavy inventory. China's expected return of some AA producers from maintenance prompted bearishness in the domestic market....

July discussions can star...

- July discussions can start early in the week, starting June 12- Outlook mixed on uncertain PVC Demand VCM and Asian EDC markets were quiet during the week of June 9, as June discussions had ended. Market participants stated that July discussions are expected to begin in the next week. A producer from South Korea stated that there are no offers for June and that they have not decided...

India's muted demand | H...

- India's muted demand- Healthy Middle East supply in China and NE Asia is expected in July Subdued market sentiment and ample supply caused India's Methanol prices to fall on June 9. Dollar-denominated discussions remained thin despite lower buying ideas. We received bids at $348-370/mt but they were not accepted. A Middle East producer suggested that we might sell on a formula. Anoth...

Week: Feedstock benzene f...

- Week: Feedstock benzene falls- Market discussion thin Due to the negative margins of producers and slow nylon demand, Asian caprolactam markets saw little activity in the week up to June 9. CFR Far East Asia caprolactam, which is available at $2,190-2,220/mt, was valued at $10-15/mt, while Southeast Asia caprolactam, which was valued at $5-6/mt, was assessed at $2,215-2,245/mt, on Jun...

Spot AA prices drop | Pl...

- Spot AA prices drop- Players refer to different levels of demand AA: European acetic acid prices fell in the week ending June 9, according to sources. Sources cite varying levels. A distributor stated that market demand was low. A seller however indicated that there was strong demand and that customer orders were filled. According to the seller, they anticipate a seasonal slower deman...

2EH Prices Drop in Respon...

- 2EH Prices Drop in Response to Increased Market Length- Phthalic Anhydride Prices Rise Participants pointed out that the European oxo alcohol markets saw an increase in length during the week ending June 9, despite soft spot demand. Domestic N-butanol spot prices are Eur2,090-2,130/mt. This is down Eur10-12/mt from the previous week. This is despite a distributor indication at Eur2,100...

July-August CP swap conta...

- July-August CP swap contango deeper at $9-10/mt- VLGC-PG-Japan freight drops to $89-95/mt The month-one Saudi July propane swap was valued at $743-760/mt on June 9, up to $8-9/mt over the previous session and $7-8/mt higher than the June term. At $9-10/mt, the July-August contango was $1-2/mt wider. The August-September contango was $8-9/mt narrower. The key Persian Gulf Ja...

H1 July CFR North Asia pr...

- H1 July CFR North Asia propane vs. $7 CP at $46.75-50.25/mt- Propane premium at $2-3/mt Asia LPG prices rose on June 9, following a rise in the tight crude complex. Lockdown measures in Shanghai's Minhang region, which are expected to last two days, prompted a change in sentiment within the larger oil complex. H1 July CFR North Asia propane was up $8-9/mt to $789-800/mt the...

Prices remain the same as...

- Prices remain the same as yesterday- No trades reported US methanol spot market activity increased on the day. Market participants reported multiple offers and bids on June 9. Despite lower market bids, there were no trades. June spot methanol remained unchanged at 112c/gal FOB USG on June 9, despite a June offer of 113c/gal FOB ITC. July spot methanol was also unchang...

Derivative demand for gas...

- Derivative demand for gasoline supports feedstock benzene- June Styrene Trades As Demand Resurfaces US June DDP benzene rose 30 cents/gal to 652. 50 cents per gall on June 9, as gasoline continues to be in demand for benzene derivatives. As prices rose, liquidity fluctuated between 640 and 650 cents per gallon. Two sources said that trading was still very thin as the d...

EPC trades heard June 30....

- EPC trades heard June 30. 5 cents/lb- Choctaw saw very little activity on the day Spot ethylene prices on the US Gulf Coast were flat for Choctaw and higher for EPC, according to sources. They also said that the bullish sentiment of the energy complex influenced ethylene price. June Mont Belvieu Ethylene was 0. Based on a June ethylene trading seen twice at 30, 75 cents...

Octane cravings drive int...

- Octane cravings drive interest in toluene and mixed xylenes- Toluene conversion margins remain negative June nitration grade toluene rose 59. 50 cents per day, to 713 50 cents per gall June 9, rising sharply due to strong high-octane aromatic demand as gasoline futures increased. RBOB gasoline futures settled at 5. 43 cents higher at $4. 2762/gal for the day.&n...

The Naphtha crack is furt...

- The Naphtha crack is further- Increased bearish sentiment On June 9, the Northwest Europe naphtha cargo market suffered from bearish sentiment, largely due to oversupply. Refineries are now producing more light end products, which is filling the market's need for excess naphtha, despite record-high distillate cracked spread levels. A market source stated that Russia still exp...

Restart two plants in Sou...

- Restart two plants in South Korea and Malaysia- China's local market levels fall by Yuan 300-350/mt On June 9, Asian butadiene was deemed stable. Market participants opted to wait and see as several butadiene plants were due to be restarted shortly. After an emergency shutdown, South Korea's GS Caltex & Lotte Chemical will be reopening their joint venture butadiene faci...

The MTBE production margi...

- The MTBE production margin is still in positive territory- 92 RON rises 3. 91%; crude oil up 2. 06% Asian MTBE was valued at $51-55/mt today at $1,355-1,380/mt on June 9, due to gains in gasoline prices and 92 RON crack. The price of gasoline at 92 RON rose 3. The 92 RON gasoline rose 3.1% to $152.95-170.50/b, while 92 RON crack was up 12. The same period...

Shandong propylene down Y...

- Shandong propylene down Yuan150-200/mt- SK Advanced will restart the Ulsan PDH Unit by June 25, The Asia propylene market remained stable on June 9, despite thin trading. However, sellers were optimistic about a price rise in the short term after Shanghai lifted its lockdown of June 1. The ICE Brent crude futures rose by $2.48-3.50/b compared to the previous session at $123.11-130...

Spot demand for MEG saw l...

- Spot demand for MEG saw limited- Feedstock ethylene sentiment weaker On June 9, Asian mono ethylene glycol was rated stable to firmer. Market sentiment was firmer. China's MEG futures grew in line with bullish western crude oil futures. According to the exchange, September MEG futures on China’s Dalian Commodity Exchange (or DCE) rose Yuan 37-55/mt on June 9th to close...

Most buyers are still on...

- Most buyers are still on the sidelines- The limited Impact of Sinopec Maoming’s shutdown The Asian ethylene market was still in a weak state on June 9, due to low derivative demand. Taiwan's SM producer was heard discussing further operating rate reductions due to low production. "We don't buy spot ethylene. "Our operating rates have been stable and we have enough to de...

China ex-tank edges lower...

- China ex-tank edges lower- Indian buyers hedge their risk by buying formula price On June 9, Asian toluene prices were mixed. The weaker ex-tank market in China pulled the complex down a lot. According to industry sources, domestic ex-tank prices in China fell sharply. East China's domestic ex-tank for quick supplies traded at Yuan 9,200-9,300/mt. Second-half June supplies t...

Paper and physicals show...

- Paper and physicals show down pressure- Slowing Inflows to China As August lay cans were less bullish, the Asian benzene market encountered some resistance in extending its upward trend. FOB Korea benzene physical marker stood at $1,451-1,480/mt on June 9th, down $10-15/mt over the previous day. One cargo was traded at $1,470-1,500/mt July loading FOB Korea. Two July benzene...

Backwardation structure w...

- Backwardation structure weakens- July Offers Lower After the Trade On June 9, the Asian paraxylene market experienced a slowdown, with fewer trades in the physical market. The CFR Taiwan/China marker dropped by $14. 33-20.50/mt climbed to $1,498-1,520 on the day. 50/mt, after reaching multi-year highs in the week of June 6 After hitting multi-year highs during the...

Stronger ethylbenzene tra...

- Stronger ethylbenzene trading supports styrene- Trades made on a US Dollar basis thin The Asian styrene market prices remained stable with CFR China and FOB Korean rising $10-15/mt each day to $1.485-2.500/mt and $1.515-2.500/mt, respectively on June 9. In line with ethylbenzene, the domestic East China market has been strong in recent months. According to market sources, the...

All July and August offer...

- All July and August offers at lower levels- Chinese sellers show export interest Asian isomer MX was down $11-15/mt at $1.496-2.500/mt FOB Korea and $1.446-2.500/mt CFT Taiwan on June 9. A sluggish downstream complex was also assessed. Market on Close was conducted at 4:30 pm Singapore time (0800-830 GMT). An offer for July was last heard in the Market on Close at $1,497-1,520/mt...

RBOB rises higher on the...

- RBOB rises higher on the day- The period sees a widening of the market structure The spot MTBE prices in the US Gulf Coast rose to an all-time high of $900 on June 9, surpassing the previous record set on June 3. The previous record was 537. 14 cents/lb. The MTBE assessment was 5. At 539, 43 cents per day 54 cents/gal. This hike was in response...

Benzene-styrene spread un...

- Benzene-styrene spread under pressure- Last assessed at $61-66/mt On June 9, the European benzene market soared due to higher June delivery trade volumes and ethyl-benzene sales. On June 9, $1,800-1,840/mt was traded. Sources claimed that they also sold 3,000 mt ethylbenzenes at $1720-1750/mt, which was likely to be exported. As styrene prices lag gains, the benzene-styr...

MTBE premium unaffected o...

- MTBE premium unaffected on the day- The record-breaking gasoline-naphtha price of $559-580/mt Due to tight supply, the spot European methyl Tertiary Butyl Eth price rose on June 9, in line with front-month gasoline. European MTBE was valued at $1,898-1,930/mt FOB AR, up to 35 75/mt daily, due to higher gasoline prices in Northwest Europe. European MTBE's premium stood a...

US Prices Stable on Week...

- US Prices Stable on Week Despite Lack of Indicators- Globally, similar market sentiment was observed After six consecutive price drops, the US spot acrylonitrile market prices held steady on the week of 7/7. The US spot ACN market remained stable at $1,910-1,940/mt FOB USGC, taking into account stable pricing in the CFR FE Asia markers and CFR Southeast Asia markers. Alt...

Participants seek to dete...

- Participants seek to determine the feedstock contract pricing- Pessimistic sentiment continues In the week ending July 5, spot activity in Europe's acrylonitrile markets remained low despite falls in the industry-settled contract price for propylene. Propylene's monthly CP settled at Eur1,480-1,500/mt. This is a drop of Eur120-135/mt over June levels, Insights June 30. P...

Producers' margins remain...

- Producers' margins remain under pressure- Keep prices low until China's demand increases After falling for nine consecutive weeks, Asia's Acrylonitrile prices stabilized on July 5, after stabilizing in Asia. ACN prices were unchanged at $1,640-1,680/mt CFR Far East Asia and $1,580-1,620/mt South Asia on July 5. Sources claimed that domestic Chinese prices were stable as...

South Korea’s LG Chemical...

- South Korea’s LG Chemical reduces runs to 90% capacity- SEA Prices are more stable due to tight supply from NEA As a result, the Asian phenol and Asian acetone markets were mixed. The collapse in Chinese domestic prices continued to erode overall market sentiment. However, the lower run rates and the shutdown of plants have tightened supplies. Due to lower supplies from North...

Phenol leaders talked at...

- Phenol leaders talked at 17-25 Cents/lb- Acetone falls during the week ACETONE: US spot Acetone was lower by $44 this week at $948/mt (43c/lb). FOB USG July 5, based on pricing indications of 42-43c/lb. Although the June domestic acetone contract was settled at 47.75c/lb, this was not confirmed by MOC so the assessment for May remained unchanged at 55.50c/lb ($1,224-1,250/mt)...

IPA and MEK prices fall a...

- IPA and MEK prices fall amid long supplies and weak demand- Long remains the ETAC market ACETONE/PHENOL - The European Acetone spot price is Eur940-950/mt Northwest Europe July 5 at Eur40-42/mt. This is a result of quiet demand and healthy supply. It falls below Eur950-965/mt producer indication. Moving towards an indicative range heard below Eur800-820s/mt to Eur900-915s/mt...

The supply has been tight...

- The supply has been tightened by the ongoing force Majeure- Asian caustic soy prices fall Spot export caustic soda prices in the US were unchanged for the week of July 5, at $785-$805/dmt FOB USG. This was based on stable pricing indicators and low market activity. Due to two active force majeures, spot supply was limited. Olin's force majeure for Chlor-alkali and ethyl...

Month one August CP propa...

- Month one August CP propane Swap $10-15/mt Above June term CPs- The August-September CP Propane Swap Contango increases from $3-4/mt up to $6-7/mt On July 5, the month-one August CP gas swap was valued at $735-755/mt, up $6-7/mt and $10-15/mt higher than the June term contract prices. The August-September CP prop propane swap contango structure widened to $6-7/mt, up $3-4/mt ov...

Asia LPG recovers but fal...

- Asia LPG recovers but falls behind Brent's jump- Aug FEI Propane Swap Discount to MOPJ Naphtha Increases to $52.75-55.75/mt Asia LPG prices rose slightly on July 5 but fell behind the $19.04-25.25/mt rise in September ICE Brent crude oil futures. This was because regional demand was not keeping up with supply. H1 August CFR North Asia propane rose $2.5-3.1/mt to $778-800/mt, on J...

July spot Methanol Flat...

- July spot Methanol Flat- August price stabil Sources said that spot US methanol prices were flat on July 5, in quiet markets following the holiday. July spot methanol remained static at 97c/gal FOB USAG. This was based upon methanol offers received from 94-100c/gal FOB ITC. August spot methanol was stable at 98c/gal FOB USG, following the same sentiment. Asian methanol...

July DDP benzene falls 42...

- July DDP benzene falls 42.5 cents/gal on day- Styrene demand remains firm despite higher benzene contract US July DDP-benzene fell 42.5c/gal to 570c/gal on July 5, amid a sharp drop in WTI crude oil futures. WTI crude futures dropped by $8.08-9.25/b, to $99.55-105.25/b on 7/05/2009, a drop of 8.19%. The benzene/crude ratio was thus 2.40. This is higher than the historica...

Lower energy market activ...

- Lower energy market activity causes price falls- EPC, Choctaw contracts reach a 20-month low The US ethylene spot market prices began the week with reported declines on July 5th, with both EPC- and Choctaw prices down from July 1. The July spot EPC ethylene price was 0.375 cents FD Mont Belvieu lower on the day. It ended at 23.75 Cents/lb FD Mont Belvieu. Based on a bid/offe...

The MOC has a dramatic im...

- The MOC has a dramatic impact on the MX price indicators- The price of gasoline falls 10% on the day The spot US prices of nitration grade toluene fell on July 5, despite falling prices for crude oil futures and gasoline futures. July NGT was 634c/gal, which is 2 cents less than the previous day. July MX was stable at 636c/gal despite an offer of 650c/gal FOB ITC Deer P...

European naphtha cracks m...

- European naphtha cracks more- Fundamentals steady To reflect the substantial fall in oil prices, the Northwest European naphtha cracked rose strongly on July 5, by $3.27-4.25/b to +/- $13.68-18.50/b. One source stated that the crack [naphtha] is simply reflecting Brent's flat price movements. Sources say that the European naphtha market has been supported by better fundamen...

Spot trading activity is...

- Spot trading activity is suppressed by narrowing downstream margins- CNOOC hears that it has canceled its tender On July 5, trading activity in Asia naphtha markets continued to decline while spot buyers were mainly restocking their supply. Sources said that weak downstream margins continued to impede trading activity. China National Offshore Oil Corp. canceled its tender on Jul...

Buyers beware of weak dem...

- Buyers beware of weak demand in downstream sectors- Wide buy-sell levels impact trade activity in the Chinese domestic market The Asian butadiene spot price was unchanged on July 5, despite limited trading activity and bearish market sentiment continuing to hinder trade discussions. According to market sources, spot trading was largely avoided by market participants because of u...

Unv1 offers H2 August-loa...

- Unv1 offers H2 August-loading 10,000 mt MTBE Cargoes- The 92 RON falls 1.08% in the face of tapering seasonal demand Asian FOB Singapore MTBE dropped $14-20/mt today to $1,277-1,300/mt on July 5, as a result of rising supplies and a weaker gasoline market due to tapering summer demand. The $138.39-150.50/b price of 92RON gasoline fell 1.08% over the course of the day. Front-...

Weak downstream margins c...

- Weak downstream margins curtail imports discussions- Concerns about additional supply in Southeast Asia The spot Asian propylene import prices remained stable on July 5, despite unchanged market fundamentals, and a limited buyer appetite for cargoes. As China's demand has been low, downstream polypropylene margins are under pressure. This has reduced the buying appetite for spot...

Brent rises to $2.67-3.50...

- Brent rises to $2.67-3.50/b- September MEG Futures Up Yuan 100-150/mt On Day Asian mono ethylene glycol prices recovered the losses of the previous day on July 5, thanks to bullish MEG futures and crude oil futures. On the Dalian Commodity Exchange, September MEG futures were traded at Yuan 100/mt (or 2.3%) on the day, to Yuan 4,457-4,500/mt Ex-tank July 5. September ICE Bre...

August Fundamentals in Ch...

- August Fundamentals in China bearish- India's formaldehyde market is low The Asian methanol market was stable on July 5, with little discussion except for India, where prices fell due to soft downstream demand. CFR China and CFR Southeast Asia were unchanged at $315-350/mt and $272-300/mt respectively. CFR India dropped $2-3/mt to $293-320/mt during the same period. Sources...

The sentiment continues t...

- The sentiment continues to be weighed down by weak derivative margins- Asian Ethylene Production Expected to Average 6.1 Million MT in Q3 Asian ethylene prices dropped on July 1, despite low demand and plenty of supply. Sellers continue to feel the pressure from H2 July excess cargoes and low buying indicators. Many buyers stated that they weren't in a hurry to purchase add...

Trading muted for crude v...

- Trading muted for crude volatility- India's ex-tank prices fall further Asian toluene prices increased by $5-6/mt in July, largely due to higher crude oil prices. High crude and feedstock prices meant that toluene buyers were left out. According to industry sources, sellers waited for flat prices to rise further while buyers waited. Market sources also said that the mark...

August/September time spr...

- August/September time spread narrows- Malaysia's PRefChem issues a sell tender Asian benzene fell $15.34-20.25/mt to $1,230-1,260/mt FOB Korea on July 5, in spite of lower offers. The FOB Korea fixed price offer levels were $1,235-$1,240/mt, while the bid was $1,210-1,250/mt. The August/September spread was also offered at a reduced $13-18/mt. In the afternoon tradi...

Four trades executed in M...

- Four trades executed in MOC, spread rebound- Fibre Corp. and Formosa Chemicals plan to restart the PTA facility in mid-July The Asian paraxylene market saw renewed trading interest due to positive signs in the downstream purified Terephthalic Acid market and the expectation of slimmer production. Asian paraxylene was valued at $13.17-18.50/mt on the day at $1.247-3.500/mt CFR unv...

Exporting demand remains...

- Exporting demand remains muted- Production Resumption to Increase Domestic Supply Asian spot styrene monomer prices were down $15-20/mt at $1,312.5-1,330.25/mt CFR China marker. The China domestic price was lower than Yuan 135-200/mt at Yuan 10,535-10,700/mt ex-tank. This equates to $1,364.49-1,400.50/mt based on import-parity on July 5. Spot prices in China fell during day tradi...

PX up $13.17-18.50/mt |...

- PX up $13.17-18.50/mt- The PXX-MX spread is still negative Asian isomer-grade mixed xylene rose $7-8/mt on the day to $1,257-1,300/mt FOB Korea and $1,212-1,250/mt CRU Unv1. It was up $5-6/mt to $1,090-1,120/mt China July 5, on the back of rising crude oil and increased demand for August MX cargoes. The outlook for MX, the demand for gasoline blending, and the possible duration o...

Unconfirmed outage was re...

- Unconfirmed outage was reported for benzene production- Styrene trade heard in a wide variety European benzene prices dropped on July 5, despite talk of production interruptions at a large production facility. The 5-to-30-day forward delivery lay can now be assessed at $1622-1660/mt CIR AR July 5, down $31-36/mt. Sources in the market reported that July trading was affected b...

MTBE premium Stable at $6...

- MTBE premium Stable at $611.75-630.25/mt- The gap between the gasoline-naphtha spread and On July 5, spot European MTBE prices fell due to selling interest and a weaker energy sector. Due to lower gasoline prices, the European MTBE price outright was down $119-635/mt. The MTBE premium was $611.75-630.25/mt over the EBOB FOBAR M1 swap. This is stable since July 4, as the Marke...

Asian MMA - Prices stabil...

Asian MMA - Prices stabilize to lower amid long-term tepid Chinese demand■ As the energy complex rallies, the production margin shrinks■ China domestic MMMA discussion stable As long-term Chinese lockdowns kept Chinese manufacturing sector demand low, the prices of Asian methacrylate and polymethyl methacrylate were steady to softer in the week ended June 1. The sharp...

Asian Recycled PET: Trade...

Asian Recycled PET: Trade is still restricted by a shortage of spot supply and logistical issues■ The trade is hindered by logistical and feedstock supply issues.■ A lifting of Shanghai's lockdown may increase the demand for recycled polyester fiber Asian recycled PET prices remained stable in June despite limited trading activity caused by a shortage of spot supplies...

Asian PET - Discussions a...

Asian PET - Discussions are limited as the long weekend nears■ High Demand for PET chips in bottles■ High levels of yarn and fiber inventory Asia's PET markets were quiet for the week ending June 1. Most sellers claimed that they had sold all June-loading cargoes, and didn't have July offers. Some sellers claimed that they had received inquiries from buyers from the...

Asian PTA: An increase in...

Asian PTA: An increase in upstream PX prices■ Rises in crude oil prices and US gasoline blendstock pricing■ Chinese domestic market stable due to holiday After gains in the upstream Paraxylene markets, the Asian purified Terephthalic Acid price rose on June 3. PX CFR China's marker rose by $70.7-75.50/mt per week and $82.83-87.25/mt per day to $1,352-1,380/mt on June...

Asian ABS Stable Despite...

Asian ABS Stable Despite gains upstream■ Bridging the gap between selling and buying■ Lower automotive and appliance demand slows down buying appetite Asian acrylonitrile-butadiene-styrene, or ABS, stayed flat on the week at $1,745-1,780/mt CFR China and $1,795-1,830/mt CFR Southeast Asia on June 1, despite the gains in upstream styrene monomer over the week. Sources...

Asian Polystyrene - Rises...

Asian Polystyrene - Rises between $10-20/mt, depending on the firmer source■ China's high domestic supply and inventory■ Low Demand for Imported Cargoes Despite the decline in upstream styrene, Asian polystyrene saw an increase of $10-20/mt in demand on June 1. General-purpose polystyrene CFR China's price rose $15-20/mt each week to $1,460-1,500/mt. High-impact p...

AsiaPP: China's rising pr...

AsiaPP: China's rising prices have a positive effect on sentiment in the region■ Shanghai opens futures support■ Expected rise in overseas offers: sources Asia's prices rose over the week ended June 1st due to bullish sentiment and rising domestic Chinese prices. According to a source in China, prices on China's domestic market have reached a bottom and are moving up...

Asian Recycled HDPE: Stab...

Asian Recycled HDPE: Stable in thin trading■ More expensive■ Strong US dollar makes imports expensive The prices of Asian recycled high-density polyethylene remained stable on June 1 despite the lackluster trade. According to market sources, the weak import demand from China is due to the dollar strengthening against the yuan and lockdowns. Global Recycled Standard ce...

Asia HDPE - Low Demand |...

Asia HDPE - Low Demand■ Malaysia's PrefChem plans to open new units before June■ Thailand PE to Take 1 Unit of Maintenance in Sep In the week ended June 1, Asian high-density ethylene prices fell due to low demand. The Shanghai lockdown was lifted, but some Chinese traders were cautious about purchasing as there were still many state lockdowns. Despite the fact t...

Asia LLDPE Slides lower o...

Asia LLDPE Slides lower on Tepid Demand■ ICE Brent crude futures fall $2.78/b■ Thailand’s PTT Restarts LLDPE Units After Maintenance Prices of Asian low-density, linear polyethylene fell in the week ending June 1, 2008. Because some Chinese provinces were still under pandemic movement restrictions, this was why prices fell. They didn't expect a full recovery of d...

Asian Recycled PETE: Stab...

Asian Recycled PETE: Stable in thin Trading■ Trade is affected by high freight costs■ COVID-19 China restrictions ease Thin trading meant that Asian recycled low-density polyethylene prices were stable on June 1 despite a weak market. Sources indicate that COVID will eventually allow some Chinese provinces to move freely. The price gap between virgin and recy...

Asia Low Demand Tracking...

Asia Low Demand Tracking crude■ Thai PTT restarts unit after maintenance■ Crude drops to $2.78/b In the week ended June 1, Asian low-density ethylene prices fell due to lower demand and uncertain economic outlook. On June 1, ICE Brent crude oil futures dropped $2.78-3.50/b to $117.12-130.25/b. China's demand was low due to lockdowns in several regions. Market...

Asian propylene price inc...

Asian propylene price increases by $15-20/mt, as the demand slows returns■ Sentiment slight boosted by lifting lockdown Shanghai■ Uncertainty in downstream prices Impacts trade activity China's propylene import prices climbed $15-20/mt during the week of June 3rd, as Shanghai relaxed its lockdown restrictions. This helped to improve market sentiment. Sources...

Asian MEG Stable during P...

Asian MEG Stable during Public Holidays in China■ A mixed price outlook due to low demand and rising costs■ Crude oil prices have risen by $3.8/b Imports of Asian mono ethylene glycol were stable while China was closed for Dragon Boat Festival. August ICE Brent crude oil prices increased $3.8-4.50/b to $117.02-130.25/b at 0830 GMT Asian Time on June 3. The Septemb...

Asian Ethylene-Tepid trad...

Asian Ethylene-Tepid trading during the holiday lull■ Discussions could begin next week■ Derivative margins improve vs early-May Spot ethylene discussions were rare during the week ending June 3 because Chinese and Unv1 market participants were absent for Dragon Boat Festival. Most buyers said they had sufficient coverage for June, but were not in negotiations for Jul...

Asian MTBBE: $24-30/mt Ri...

Asian MTBBE: $24-30/mt Rises in Bullish Energy Complex■ FOB Singapore/FOB ARA MTBE Spread hits record high■ 92 Ron rises 1.87%; crude oil up 3.27% for the day Due to a stronger energy complex, the Asian FOB Singapore MTBE rose $24-30/mt and reached $1,281-1,310/mt on the first day. By 4:30 PM Singapore Time (0830 GMT), the front-month ICE Brent crude oils futures had ri...

Asian paraxylene: Increas...

Asian paraxylene: Increasing due to strong US demand and high oil prices■ Prices for aromatics soar■ The US demand is expected to last at most until August Due to rising crude oil prices, and higher prices for US gasoline blendstocks, Asian paraxylene was valued at $82.83-88.50/mt or $1,352-1,380/mt CFR unv1/China on June 3. GS Caltex's July lay can bids rose to $1370-...

Asia Solvents MX: Growing...

Asia Solvents MX: Growing amid strong buyer interest■ South Asia continues buying solvents■ China Participants Muted During Public Holiday June 3 South Korean buyers continued their interest in the market for solvent mixed xylenes over the week ending June 3. South Korean buyers were heard making offers, but no sellers or trades were reported on that day. One trade...

Asian benzene: Rises $115...

Asian benzene: Rises $115.66-130.25/mt on week amid firm US market■ July/August Backwardation increases on the week■ July's strong purchasing desire continues Asian benzene has been in a bullish trend since May 30th, closing at $115.66-130.25/mt higher than the previous week's close of $1,411-1.450/mt FOB Korea. This was due in part to the strength of US benzene m...

CP propane CP swap contan...

- CP propane CP swap contango structure widens- Kuwait offers equally split LPG for Aug. The August CP propane swap value was 729/mt on July 4, up to $1.5-2.6/mt compared to the previous session and $4-5/mt higher than the June term contract prices. The August-September CP prop propane swap contango structure widened $1-3/mt versus previous sessions to $3-4/mt. While the Septem...

Asia LPG edge lower, balk...

- Asia LPG edge lower, balking Brent gains- The August FEI propane swap discount for MOPJ naphtha narrows down to $47-53/mt Asia LPG prices fell on July 4, despite the $3.68-4.50/mt gain recorded in September ICE Brent crude oil futures. However, buying interest increased, albeit at low levels. H1 August CFR North Asia propane fell 50 cents/mt to $775.5-800.50/mt, on July 4.&nb...

US holidays impact Europe...

- US holidays impact European trade- East-West falls significantly The European naphtha and oil markets were quiet as the US was closed for the July 4 holiday. One source stated that the US market was "super quiet today", one source claimed. Due to the rise in crude oil, the August naphtha swap was valued at $28.25-33.50/mt up to $825.50-860.25/mt. The recovered crack rose...

Naphtha Prices Rise on St...

- Naphtha Prices Rise on Strong Crude- Low margins continue to reduce downstream demand Sources said that the Asia naphtha market was quiet because fundamentals were still weak due to low downstream demand. Since May 13, the breakeven point for integrated producers of CFR Northeast Asia ethylene (C+F Japan naphtha) has been below $250-280/mt. The Asian close on July 1 saw...

Bearish sentiment fueled...

- Bearish sentiment fueled by weak Chinese downstream sector- The spot market is quiet in the early hours of the week because participants are cautious Spot prices for Asian Butadiene continued to be under pressure due to weaker downstream demand, according to sources. Spot buying appetite was limited by weak downstream demand for synthetic rubbers, and Chinese butadiene produc...

China MTBE exports to Jul...

- China MTBE exports to July are expected to be lower than May, June- Crude jumps 1.47% and gasoline rises by 1.76% to 92 RON Asian FOB Singapore MTBE rose $22.50-27.50/mt daily to $1,291-1,320/mt on July 4, due to a rebound within the energy complex. In light of deteriorating Libyan supply disruptions, the front-month ICE Brent crude oil futures rose 1.47% to $111.08-130.50/b...

Chinese domestic manufact...

- Chinese domestic manufacturers reduce prices to increase sales- Concerns about China's downstream demand going ahead Chinese ethylene domestic prices dropped on July 4, amid bearish sentiment in the market, as downstream sectors continued to suffer. According to market sources, there is little interest in spot trades as downstream sectors are lowering their production rates...

September futures contrac...

- September futures contracts down Yuan 55-70/mt day- Sentiment weighted by ample Chinese inventory Monoethylene glycol prices in Asia were $6-7/mt less than in the previous session. Discussions trended lower on July 4, in line with MEG Futures. This was despite ample coastal inventory and low polyester demand. According to market sources, MEG inventories in China were more th...

Chinese sentiment is impa...

- Chinese sentiment is impacted by high port inventories and tight storage.- Indian Bearish Fundamentals The Chinese methanol market began the week on a cautious note due to high port inventories and limited tank space. Methanol futures traded lower as market participants were cautious. On July 4, the actively traded September contract on Zhengzhou Commodity Exchange settl...

Participants are left beh...

- Participants are left behind as the downstream margins remain low- Demand outlook bearish Asian ethylene prices remained unchanged on July 4, as the gap between buyers and sellers was widening at the beginning of the week. The backdrop of weak downstream demand and uncertain global economic conditions meant that sentiment was neutral to weak. As the August cargo negotia...

Both gasoline blenders, a...

- Both gasoline blenders, as well as TDP units, ease the demand- India Spot discussions are sparse Asian toluene prices rose in line with stronger crude oil prices on July 4. TDP users and gasoline blenders were experiencing a cooling trend, with TDP users and TDP buyers seeing weaker benzene–toluene/paraxylene-toluene spreads dropping sharply over the past two weeks...

Japan and Thailand's benz...

- Japan and Thailand's benzene exports drop in May- Aug-September backwardation narrows Asian benzene was stable at $1,230-1,270/mt FOB Korea on July 1, but September prices rose and August lost some support. The August-September backwardation narrowed from $25-30/mt to $22-26/mt. Styrene monomer rose $20-25/mt from $1,327-1,360/mt China CFR, while FOB China was valued up $13-1...

Indications that are marg...

- Indications that are marginally positive for downstream PTA- Hengli Petrochemical starts maintenance at the No. 5 PTA plant Asian paraxylene markets edged up on July 4, due to maintenance and lower downstream production. As the economics for feedstock paraxylene remain weak, producers continued to be cautious in managing downstream purified Terephthalic Acid production....

Steader backwardation due...

- Steader backwardation due to firm prompt cargo- Limited buying in the export market Spot styrene monomer prices in Asia were up to $20-25/mt at $1,327.5-1,360.10/mt CFR China. The domestic China price was higher at Yuan 322-375/mt on that day at Yuan 10,670-10,800/mt exp-tank. This equates to $1,380-1,410/mt based on import-parity on July 4. According to trade sources, spot p...

The PXX-MX spread narrows...

- The PXX-MX spread narrows further- Hengli closes PTA Plant for Turnaround Asian isomer-grade mixed xylene rose $25-30/mt to $1,250-1,290/mt FOB Korea, and $1,205-1,250/mt CRU Unv1 July 4, as strong demand emerged for August cargoes after a bearish week. The paraxylene MX spread narrowed to $11.25-16.50/mt, to minus 15.92-20.50/mt, as PX rose $13.75-18.25/mt during the same pe...

Middle East exports to Eu...

- Middle East exports to Europe- Styrene spread expands to $168-190/mt European benzene prices fell on July 4. Import volumes from the Middle East were expected due to a strong European premium versus Asian prices. With the expectation of rising supply, the five- to 30-day forward delivery lay could fall from $87.50-92.50/mt down to $1,653-1,700/mt. There was a strong backward...

MTBE Premium remains at $...

- MTBE Premium remains at $611.75-630.25/mt- The gasoline-naphtha spread slightly expands upon day Spot European MTBE prices were higher than expected on July 4, due to higher prices in the associated energy complex. European MTBE was valued at $1,833-1,870/mt FOB ARA. This was $33-38 more than the previous day due to front-month gasoline gains. Despite an increase in the...

Asian MMA PMMA - Weak dem...

Asian MMA PMMA - Weak demand outweighs rebounding China’s domestic prices■ The steady arbitrage demand from Europe and the US bolsters prices■ South Korea's LX MMA plans to close the No. 3 MMA plant in September for a scheduled turnaroundAs demand destruction fears outweighed the rebounding China domestic market, Asian methyl methacrylate and polymethyl methacrylate markets were...

Asian Recycled PET Price:...

Asian Recycled PET Price: Prices remain steady■ Hearing that processing costs are rising■ Falling virgin prices may cause downward price revision: sourceAs fundamentals remained largely unchanged, Asian recycled polyethylene Terephthalate prices remained stable over the week. The market dynamism was low for the week that began June 26, as producers decided to maintain stable of...

Asian PET: Outlook bearis...

Asian PET: Outlook bearish about uncertain downstream markets■ Bottle-grade PET chips prices remain stable based on the unchanged fundamentals■ Polyester yarn prices and drop-in feedstockThe prices for PET chips in bottles were stable during the week ending June 29th, while fundamentals remained constant. Trade was stable in China's domestic and export markets. Some traders reporte...

Asian PTA: Market turns v...

Asian PTA: Market turns volatile following PX, amid weak downstream■ Lower supply supports prices■ China’s polyester producers debate run-cutsAsian purified Terephthalic Acid was volatile over the week. It rose earlier, but then fell $14-20/mt week to $916-930/mt CFR China China July 1. This tracked upstream paraxylene marker as well as local prices. China's domestic PTA pr...

Asian ABS: $60-65/mt lowe...

Asian ABS: $60-65/mt lower on shrinking demand■ Lower final product order by 40-50%■ ABS margin remains negativeAsian Acrylonitrile-butadiene-styrene was assessed down $60-65/mt on the week at $1,640-1,680/mt CFR China June 29, weighed by shrinking downstream demand on final products and lowered upstream prices. Sources claim that global inflation has caused a decline in demand...

Asian PS - Slumps $30-35/...

Asian PS - Slumps $30-35/mt for sluggish need■ Weak downstream prices put pressure on polystyrene■ Uncertain outlook because of global inflationDue to weak downstream demand and low upstream prices, Asian polystyrene prices dropped by $30-35/mt. Inflation was causing shrinkage in both export and domestic orders globally as global demand for final products is slowing. This was...

Asian Price Point: China'...

Asian Price Point: China's persistent demand is a lull, but Southeast Asia prices are lower■ China's prices fell on the week, despite a slight rebound■ Southeast Asia hits demandOn June 29, prices in the Chinese and Southeast Asia polypropylene market fell. East China prompt domestic cargo dropped by Yuan 25-40/mt during the week, closing at Yuan 8450-8600/mt. Against a host of...

Asian Recycled HPPE: Stab...

Asian Recycled HPPE: Stable in thin trade■ Having trouble finding a shipping■ Rising electricity prices will cause rising production costsOn June 29, Asian high-density recycled polyethylene prices remained stable due to thin trade. While most Southeast Asian recyclers continue to focus on the US and Europe markets, they admit that it is difficult to find shipping containers.&nbs...

Asia HDPE: Low demand |...

Asia HDPE: Low demand■ Rising interest rates dampen consumption■ Malaysian PrefChem will open new units in Q3According to market sources, Asian high-density plastic ethylene prices dropped in the week ending June 29, due to weak demand. The ICE Brent crude oil futures rose $7.6-8.5/b during the week to $117.66-130.25/b, on June 29. The resurgence of the Chinese pandemic a...

Asia LLDPE - Dips on tepi...

Asia LLDPE - Dips on tepid Demand■ DCE falls Yuan 11-30/mt on day■ The falling interest rates and strong US dollars cause slippage inIn a historically weak demand season, Asian linear low-density polyethylene was less valued in the week ending June 29, while Southeast Asia took the Chinese market's pricing cues. On the Dalian Commodity Exchange, September 2022 LLDPE futures fell...

Asia recycled LDPE - Stab...

Asia recycled LDPE - Stable in thin trade■ Production is hampered by low feedstock supplies■ Thin Trading due to low demand and high production costsThe Asian recycled low-density polyethylene prices remained stable on June 29, despite thin trading. Market recovery was slow due to low feedstock collection, rising electricity costs, and high crude oil prices. Sources said...

Asia LDPE - Up slightly d...

Asia LDPE - Up slightly due to higher crude oil prices in Southeast Asia■ Inflation dampens demand■ Brent rises $7.6-8.5/b in the weekAfter a deal, Asian low-density plastic ethylene prices were higher in Southeast Asia. However, prices dropped in China and India during the week to June 29, due to weakening demand and an uncertain economic outlook. According to market sources, i...

Asian PVC Prices Fall to...

Asian PVC Prices Fall to New Lows As China's Selling Pressure Increases■ China's lowest level since April 2020■ Southeast has a higher demandAsia PVC prices fell from $70-75/mt to $1,050-1,070/mt in China on June 29, as Chinese producers continued to concentrate on exports after poor domestic demand. PVC prices in China fell to $1,050-1,070/mt on June 29, after pandemic-dri...

Asia butadiene - prices f...

Asia butadiene - prices fall due to weak demand■ Outlook bearish upon high supply among plant startups in H2■ China’s Shanghai Petrochemical remains closed after the fireAsian butadiene prices fell on July 1, due to weak demand. Downstream plants had reduced their operations amid negative margins. However, new plant startups were expected to increase supply in the second half. ...

Asian Propylene: CFR Chin...

Asian Propylene: CFR China Marker down $30-35/mt this week due to lackluster demand■ Imports are not popular with buyers■ Lotte Chemical will delay running the Yeosu steam cracker at full speed until July 4On July 1, the CFR China propylene markets trended lower as buyers continued to withdraw from the propylene marketplace, despite a lackluster PP demand. Propylene trader...

Asia MEG Down on Low Dema...

Asia MEG Down on Low Demand■ China may not restart its Sinopec Shanghai MEG Unit until August■ Brent falls $6.64-7.30/bDue to weak demand and a bearish outlook from lower crude oil futures, Asian mono ethylene glycol was down $15-20/mt at $545-575/mt CFR China on July 1. September ICE Brent crude oil futures dropped $6.64-7.45/b to $109.47-130.25/b at 0830 GMT Asian close. ...

Asian Ethylene Prices Fal...

Asian Ethylene Prices Fall on Low Demand, Plenty of Supply■ The sentiment continues to be weighed on by weak derivative margins■ Asian Ethylene output is expected to average 6.9 million mt in Q3Asian ethylene prices dropped on July 1, despite low demand and plenty of supply. Sellers continue to feel the pressure from H2 July excess cargoes and low buying indicators. Many buyers...

Asian MTBE: Plunges $51.5...

Asian MTBE: Plunges $51.50-55.25/mt on tapering arbitrage demand■ The high inflation risk causes the energy complex to collapse■ Crude plunges 3.9%Asian FOB Singapore MTBE fell $51.50-55.25/mt per day to $1268-1300/mt on July 1, a result of tapering arbitrage demand following the end of driving peak season. The front-month ICE Brent futures dropped 5.72% to $109.47-130.50/b by...

Asian Methanol: Falling $...

Asian Methanol: Falling $2-$11/mt if there is ample supply■ China Prices down 25% from March■ India Seller pressure increasesAsia methanol prices dropped for the fourth consecutive week, July 1st, due to a longer global methanol market and healthy production rates. There was also a patchy downstream demand. Methanol prices in Asia fell $2-$11/mt over the week ending July...

Platts Asian Caprolactam...

Platts Asian Caprolactam Weekly - Discussions are limited by poor economics■ Sellers and buyers abstain from discussions■ Resins Demand remains weakThe Asian caprolactam market was weak. There were no discussions about materials for the following month. Participants preferred to remain on the sidelines and inquire only on an as-needed basis. Some market participants sugges...

Asian Styrene: Lower by $...

Asian Styrene: Lower by $22.50-27.50/mt due to sluggish demand■ The demand from Europe and South Korea is expected to be low■ FCFC reopens its SM unitAsian spot styrene monomer prices were down $22.50-27.50/mt at $1,307-1,340/mt CFR China marker. The China domestic price was down Yuan230-250/mt at Yuan 10,350-10,500/mt ex-tank on July 1. This equates to $1,343-1,380/mt import-parit...

Asian Orthoxylene: Falls...

Asian Orthoxylene: Falls $30-$55/mt due to China's weakening■ Sinopec slashes domestic prices Yuan 500-520/m■ Naphthalene-based PA exports threaten OX DemandAsian orthoxylene's value was $50-55/mt lower than the previous week. It was $1,180-1,200/mt CFR China in the week ending July 1, due to lower domestic prices and weak phthalic acidity. The overall demand for the product in China...

Asian Iso_MX: Fall $19-$2...

Asian Iso_MX: Fall $19-$24/mt as the outlook turns more bearish■ The PX for the week is $29.5-35.2/mt■ Spread in the US to US MX for more than $700-720/mtAsian isomer-grade mixed xylene dropped $24-30/mt last week to $1.225-2.450/mt FOB Korea. It was down $19-24/mt at $1,180-1,220/mt in Taiwan but rose $6.50-7.25/mt on July 1 due to falling downstream paraxylene, and bearish s...

Asian Paraxylene Falls $3...

Asian Paraxylene Falls $33.34-38.50/mt. Weighed by downstream weakness■ The cost of a PX-naphtha treatment is below $400-420/mt■ China's imports of PX fell 20.65% year-on-year in MayAsian paraxylene ended the week of June 27, on a bearish note. It fell $33.34-38.50/mt and $29.50-35.25/mt week-on-week to $1,220-1,250/mt CFR Taiwan/China, and $1,200-1,35/mt FBO Korea July 1. Para...

Asian Solvent MX Prices F...

Asian Solvent MX Prices Fall on Thin Demand, Plenty of■ Low demand from South and Southeast Asia■ Bid-offer levels too far apartDue to weaker demand and the healthy supply in Asia-Pacific, Asian solvent mixed xylene prices fell on July 1. A July 1 offer at $1,250-1,280/mt FOB Korea was made for July 21-Aug.10 loading. However, no buyers were visible. To no avail, the offer f...

Asian toluene: Prices fal...

 Asian toluene: Prices fall following weaker crude oil, bearish sentiments■ The Toluene requirement from gasoline blenders decreases■ China and Southeast Asia Still low demand for solventsDue to lower crude oil prices and lower downstream prices, Asian toluene prices dropped on July 1, on the rollover date. A trader stated that gasoline cracks are weakening, which is...

Asian benzene: The fundam...

Asian benzene: The fundamental weakness of prices is a factor.■ Japan’s ENEOS settles July benzene ACP at $1,290-1,320/mt■ Southeast Asian plant re-starts to increase supplyThe Asian benzene markets saw more activity on July 1 than in physical markets. This was due to participants reacting to the overnight drop in crude oil prices. The front-month September ICE Brent crude...

PX naphtha spreads to $45...

- PX naphtha spreads to $453-470/mt- MX and benzene prices are supported by US prices Asian paraxylene was valued at $4. 83-5.75/mt at $1,270-1,300/mt CFR Taiwan/China Juni 2. The US gasoline complex's strength is supporting the aromatics complex in Asia and the US. Overnight, the DDP USG benzene prices rose by 32 cents per gall at 542. 50 cents per gall on June 1.&nb...

Isomer MX FOB Korea Price...

- Isomer MX FOB Korea Prices up to $1-2/mt for a day- Aug ICE Brent crude oil down $3. 80-4.75/b on day Isomer MX was valued at $1-2/mt, FOB Korea. MX was being renegotiated by a large buyer who stated that they expected higher FOB Korea prices for some time as higher premiums were required to reach term contracts with producers. The FOB Korea MX prices were also too...

FOB China buy/sell discus...

- FOB China buy/sell discussions in a wide- The TDP margins remain bullish Asian toluene prices were steady to slightly stronger on June 2, taking account of the increase across all downstream prices since the end of MOC, and disregarding the fall In crude futures due to tight aromatic product supplies Globally. Arbitrage to the US remained wide open. FOB Korea toluene traded...

Strong buying boosts trad...

- Strong buying boosts trade momentum- Benzene-naphtha spread crosses $500-535/mt Asian benzene started the trading session on a bullish note, on June 2, thanks to the overnight rise in the US market. The FOB Korea benzene market remained $35-40/mt higher than the previous session at $1,361-1,400/mt on June 2. The US June DDP benzene saw an increase of 32 cents at 542.&nbs...

The Asian naphtha markets...

- The Asian naphtha markets saw fresh supply- Taiwan's Formosa Petrochemical plans lower run rates Asian naphtha markets saw new supply. June-loading naphtha was heard from Qatar. On the buy-side of the market, naphtha fed steam crackers were heard refraining buying spot cargoes because of poor downstream margins. Sources said that Qatar's QPSPP offered 75,000 tonnes of naphth...

Crude prices plummet due...

- Crude prices plummet due to potential OPEC+ supply increases- 92 Ron down 1. 44%; crude down 3 24% on day Asian FOB Singapore MTBE dropped $19-25/mt to $1,257-1,280/mt on June 2, due to falling crude oil prices and a weaker gasoline market. The front-month ICE Brent crude oil futures plunged 3. 214% to $113 on the day. 32/b at 4:30pm Singapore time (0830 GMT),...

The June discussions were...

- The June discussions were concluded during the week- Chinese PVC Demand could increase upon the lifting of the Shanghai lockdown VCM and Asian EDC markets were quiet during the week that ended June 2. Discussions for June had been completed the week before. Due to limited cargoes and tight supply, there were no additional cargoes. According to multiple sources, a major produc...

CFR India, AA cargoes wit...

- CFR India, AA cargoes witness an increase in trading activity- The Asian VAM market is sluggish As tight supply worries lifted market sentiment, Asian acetic acid prices rose in the week ending June 2. East China's acetic acid prices rose by Yuan 200/mt during the week to Yuan 5,200-5,400/mt ex tank. A few trades helped to increase buyer interest. A few July-loading carg...

South Korea’s LG Chem ope...

- South Korea’s LG Chem operates the Naju 2-EH unit at its full rate following the turnaround- The PA market is supported by Firm OX feedstock On June 2, prices in the Oxo alcohols marketplace were mixed due to higher crude oil prices and weaker demand. Sources said that 2-ethylhexanol demand was slow because of slow growth in downstream polymers. Others were optimistic ab...

The muted demand for mean...

- The muted demand for means that buying interest is still low.- Feedstock benzene rises $48. 16-53.46/mt for the week On June 2, the Asian caprolactam market experienced rising costs and low demand, which led to a standoff between sellers and buyers. Asian caprolactam was up $10-15/mt during the week to $2,180-2,210/mt CFR Far East Asia June 2 and $2,210-2,250/mt CFR So...

Third consecutive Day for...

- Third consecutive Day for the record- July/August gasoline backwardation deepens The US Gulf Coast spot MTBE price reached an all-time record on June 2, for the third consecutive session. Moreover, gasoline futures increased further. 11. 93 Cents more than the previous day's 531. FOB USG, 01 cents per gall The MTBE premium was not increased to gasoline due to a lack...

Crude prices plummet due...

- Crude prices plummet due to potential OPEC+ supply increases- 92 Ron down 1. 44%; crude down 3 24% for the day Asian FOB Singapore MTBE dropped $19-25/mt to $1,257-1,290/mt on June 2, due to falling crude oil prices and a weaker gasoline marketplace. The front-month ICE Brent crude oil futures plunged 3. 214% to $113 on the day. 32/b at 4:30 pm Singapore time...

The June discussions were...

- The June discussions were concluded during the week- The lifting of the Shanghai lockdown could lead to a rise in Chinese PVC demand VCM and Asian EDC markets were quiet during the week that ended June 2. Discussions for June had been completed the week before. Due to limited cargoes and tight supply, there were no additional cargoes. According to multiple sources, a ma...

The plasticizer pricing r...

- The plasticizer pricing remains steady during the week, as sources claim that the market is quiet- Domestic NBA 2EH levels down 10cs amid propylene dropThe US oxo-alcohol prices were stable to falling during the week of June 30. This was despite falling global markets and a slowdown in market activity. Normal butanol export prices fell $110 week-on-week to $2,115-$2,125/mt FOB USG. Thi...

Demand outlook mix | VAM...

- Demand outlook mix- VAM remains constrained Export acetic acid stood at $1,750-1,780/mt FOB USAG during the week ended June 30, and was still stable. The week saw no trading activity. There were mixed opinions about market demand the week before. One source stated that "demand continues to remain strong" while another source stated that "not much demand but not much supp...

Slow spot purchasing inte...

- Slow spot purchasing interest, healthy supply- Turkestan releases May exports/imports data On June 30, the European methanol market saw a price adjustment due to the third quarter's drop in European methanol contract prices. This was in contrast to the second quarter. FOB Rotterdam's five-to-30-day spot price for methanol was Eur363-380/mt on June 30, down Eur7-8/mt the day b...

South Korea’s Aekyung pla...

- South Korea’s Aekyung plans a 70% reduction in the PA plant run rate for July- Unv1's Nan Ya Plastics will run one PA 64,000 mt/year Line in July Due to low plasticizer demand, the 2-ethyl hexanol CF China marker suffered further losses on June 30, CFR Far East Asia acrylonitrile was down $150-165/mt over the week to $1,270-1,300/mt on June 30. Shanghai's reopening afte...

A wide buy-sell gap hampe...

- A wide buy-sell gap hampers AA trade- Discussions in Asia AA: The direction of the Asian market was set by Chinese acetic acid prices on June 30, as a large domestic supply and relatively high production rates weighed down on prices. FOB China cargoes to India were being offered at $530-550/mt on June 30, while cargoes weighing 1,000 mt up to 2,000 mt were loaded from China i...

China's falling PVC price...

- China's falling PVC prices and increased demand- Southeast Asia markets are stable despite limited availability In the week ending June 30, trading was slow in Asian EDC and VCM markets. This is because procurement activities were slowed down by weak downstream PVC sentiment. Sellers said that there were few inquiries as Chinese buyers expressed concern about falling prices a...

Muted Discussions in Chin...

- Muted Discussions in China- Indian prices are influenced by high supply and low seasonal demand. Sources said that Chinese domestic methanol prices had not changed much from the previous day. Discussions for import spot cargoes were mostly done on a formula-based basis on June 30. A fixed-price offer was made for cargoes arriving in China in August at $330-350/mt CRC Chi...

Both buyers and sellers r...

- Both buyers and sellers refrain from discussing- Resins Demand remains weak The Asian caprolactam market was weak. There were no discussions about materials for the following month. Participants preferred to remain on the sidelines and inquire only on an as-needed basis. Some market participants suggested that materials from Russia were being imported into Northeast Asia. Ther...

Turkestan releases May ex...

- Turkestan releases May exports/imports data- VAM: 108 kt available on duty-free quota AA: Prices were stable on the spot European Acetic Acid market. Eur1,600-1,625/mt was the price of AA on June 30, for products from Northwest Europe. This is a small market. Sources said that although supply was tight, particularly from the US, the majority of the demand was met by con...

Stable prices for phthali...

- Stable prices for phthalic acid- July Contract price settlement for feedstock Propylene In the week ending June 30, European oxo-alcohol markets saw limited demand, with Europe still being a high-cost market. Producers commented that prices are higher in Europe than in other regions, and added that the market is more resilient even though demand is lower. N-butanol...

Aramco sets JulyCPs aroun...

- Aramco sets JulyCPs around the top end of lifters' recommendations- Aug–Sept CP Propane Swap Contango Widens to $4-5/mt Saudi Aramco has set the July propane and butane contract price at $725-750/mt. This is $25 less than in June. This was the third consecutive year of fall. Asia is well-supplied with US and Middle Eastern cargoes. However, Asia's demand is mainly from China’s pr...

Asia LPG drops following...

- Asia LPG drops following the release of Saudi July term CCPs- July FEI to MOPJ naphtha Discount Widens to $46.75-50.20/mt Asia LPG prices fell on June 30th, but not as much as August Brent crude oil futures' $10.24-15.25/mt decline from the previous Asian close. This was after Saudi Aramco announced that July term contract prices would be lower than June term CPs. Market activity was...

SCC nominates July CP at...

- SCC nominates July CP at 3 cents less than the month- Spot Prices fall by 4 cents per day The spot US methanol market prices dropped on July 1st as bids were beaten down and offers were made. This resulted in a July Methanol Trade. There were offers as high as 105c/gal FOB ITC, but they gradually fell to 99c/gal FOB ITC. July spot methanol fell 4 cents to 98c/gal FOB ITC on...

Weaker benzene forward cu...

- Weaker benzene forward curve tracks RBOB gasoline futures decline- Styrene rates fall due to unfavorable economics and higher feedstock costs The US July DDP-benzene price remained steady at 605c/gal on June 30, but forward curve prices declined amid a weaker downstream energy complex. WTI crude futures dropped by $4.02-5.10/b, to settle at $105.76-120.25/b on June 30, down 3.6...

EPC drops 0.75 cents on t...

- EPC drops 0.75 cents on the day- Weak demand The US spot market for ethylene was slow due to stable-to-lower pricing. EPC and Choctaw EPC ethylene indications were very low on the day, as market participants only reported a handful of bids and offers. July EPC ethylene dropped 0.75 cents to 24.75 Cents/lb Fd Mont Belvieu. This was based upon a trade at that level. Augus...

Market activity low | Th...

- Market activity low- The Energy Complex Sinks Further Due to limited market activity, spot prices for US nitration-grade toluenes and mixed xylenes were stable on June 30. Each July NGT and July MX were assessed at 636c/gal, which was flat for the day. A July NGT offer was made at 650c/gal, but there was no interest in buying. The energy complex was down 4% to 5% upstre...

Refinery of Schwechat run...

- Refinery of Schwechat running at reduced rates- South Korea's demand and imports fall during the month Borealis, an Austria-based producer of petrochemicals, will run Schwechat's polyolefins production at reduced rates for the remainder of the third quarter. This follows an incident at OMV’s integrated refinery on the site. OMV supplies most monomers to Borealis, including ethyle...

Sentiment increases on-ti...

- Sentiment increases on-time backwardation- Buying activity takes a notch Asia naphtha markets saw sentiment start to rise as some end-users of naphtha began to buy cargoes. However, fundamentals remained weak and steam crackers were operating at levels between 80%-90%, sources stated. The paper market saw the front-month July August MOPJ naphtha swap spread remain stable for the...

China’s Shanghai Petroche...

- China’s Shanghai Petrochemical remains closed after the fire- Muted demand limits Discussion On June 30, Asian butadiene prices were stable in thin trade. Some traders tried to find arbitrage opportunities to ship Asian-origin cargoes into the US. However, no fixtures were found amid high freight rates. Sources close to the trade said that the Asia-US freight rate was...

The MTBE arbitrage needs...

- The MTBE arbitrage needs to taper in Q3- Energy complex retreating. Crude down 1.32%. 92 RON down 3.36 Asian FOB Singapore MTBE fell $46-50/mt to $1,320-1,350/mt on June 30, due to tapering arbitrage demand from Europe and the US as well as the declining energy complex. Market sentiment was impacted by the end of summer, which drove seasonal demand in the northern hemisphere. Ho...

Imports are not in high d...

- Imports are not in high demand by buyers- China's Jiangsu Sailboat will restart 260,000 mt/year No. 3 ACN units around July 15 Asian propylene markets remained the same as June 30. Buyers showed little interest in imports due to the increasing and cheaper domestic supply. August ICE Brent crude oil futures fell $1.56-2.50/b compared to the previous session and closed at...

China's Sinopec Shanghai...

- China's Sinopec Shanghai MEG Unit may not reopen until August- DCE rises Yuan 78-90/mt on day In spite of a tight supply, Asian mono ethylene glycol was valued at $10-15/mt on June 30, at $560-590/mt CFR China. On the Dalian Commodity Exchange, September MEG futures were active and traded at Yuan 78-90/mt. This was Yuan 4,536-4,570/mt exchange. August ICE Brent crude oil fu...

Muted Discussions in Chin...

- Muted Discussions in China- Indian prices are influenced by high supply and low seasonal demand. Sources said that Chinese domestic methanol prices had not changed much from the previous day. Discussions for import spot cargoes were mostly done on a formula-based basis on June 30. A fixed-price offer was made for cargoes arriving in China in August at $330-350/mt CRC China.&...

The negative derivative m...

- The negative derivative margins of buying sentiment- Ethylene Naphtha spread narrows The Asian ethylene market prices fell for the second consecutive day on June 30, due to weak downstream margins, and low buying appetite. Participants stated that the second-half July supply was higher than demand. Many naphtha-fed steam crackers in Asia were operating at 80% capacity or more, w...

Buyers from India and Sou...

- Buyers from India and Southeast Asia keep low bids- Fall in US Blenders Demand Due to thin spot discussions before the July 1 rollover, Asian toluene prices were lower than expected, trading sources reported. Sources said that buyers and sellers were not in agreement. Sources said that there was an offer for 2,000 mt up to 3,000 mt FOB mid-China (east China river ports), for...

July/August Physical Back...

- July/August Physical Backwardation Reduces- CPC procures August supplies According to market sources, Asian benzene prices were mostly rangebound during the fourth trading session of the week. This was due to lackluster fundamentals that did not inspire much trading interest. The FOB Korea benzene markets fell from $2-3/mt down to $1,256-1,280/mt on June 30. Some partic...

July PX AP negotiations f...

- July PX AP negotiations fail to resolve- Unv1’s OPTC plans for PTA to be reinstituted Asian paraxylene fell $6.25-7.50/mt to $1,253-1,290/mt CFR unv1/China on June 30, and $1,233-1,250/mt FBO Korea on June 30. Trades were quiet amid rangebound downstream PTA September Futures in China. They jumped 1.05% in the morning but dropped 0.03% per day in the afternoon session. The...

Higher exporting offers w...

- Higher exporting offers when firms are prompt in their pricing- A weak SM margin reduces the operation rate Asian spot styrene monomer prices were up $12-15/mt at $1,329-1,350/mt CFR China marker. The China domestic price was up Yuan 140-180/mt at Yuan 10,580-10,700/mt ex-tank. This equates to $1,367-1,400/mt based on import-parity on June 30. Spot discussions in China were...

Some traders are bearish...

- Some traders are bearish about the MX price outlook- Since July, the demand has been uncertain Asian isomer-grade mixed xylene dropped $10.50-15.25/mt to $1.254-2.500/mt FOB Korea and $1,209-1,225/mt CRU Unv1. However, it remained stable at $1.090-2.500/mt CRU China on June 30. The traders held a bearish outlook on isomer-MX. This was especially true for FOB Korea prices. Some see...

July 5-7: 50,000 barrels...

- July 5-7: 50,000 barrels- Flat prices fall as gasoline prices plummet On June 30, a trade was made for 50,000 barrels MTBE as the month came to an end. US Gulf Coast spot MTBE was 18.28 cents lower on June 30 at 444.63c/gal FOB USG. This is based on August RBOB trade plus 91c/gal outside of the Market on the Close assessment process. This deal was the only one in the month. H...

Benzene spot markets up t...

- Benzene spot markets up to $265.75-280.50/mt for the month- July contract settled at $1,872, up from $371-390/mt in June Spot activity in the European benzene markets was low on June 30, as participants focused on July's settlement. In the days leading up to the settlement of the contract price, there was little trading activity. This helped mitigate the impact of the sharp fall...

MTBE Premium drops to $56...

- MTBE Premium drops to $560.75-575.25/mt- The spread of gasoline-naphtha narrows by $60.50-65.25/mt On June 30, spot European methyl Tertiary Butyl Eth flat prices dropped further due to selling interest and weaker upstream energy. European MTBE was valued at $1.782-2.250/mt FOB ARA. This was lower than the $98-102/mt on June 30, due to a selling appetite during the Market on Clos...

Lifters suggest Jul Saudi...

- Lifters suggest Jul Saudi term CP price for propane, and butane at $690-710/mt- Aug Sep CP propane swap contango shrinks to $4-5/mt The July Saudi propane CP Swap was valued at $717-737/mt on June 27, up to $1-2/mt over the previous session and $33-38/mt lower than June term CPs. Lifters recommended that propane and butane prices be kept between $690-720/mt to $710-730/mt ahead...

July unchanged | Offer h...

- July unchanged- Offer heard at 109 cents/gal Due to low trading activity, US Gulf Coast spot Methanol was stable on June 27. According to one source, activity was low after an industry event that took place in June. July methanol was unchanged at 101 cents per gall FOB USG. An offer at 109 cents per gall FOB ITC was made.

The steep backwardation o...

- The steep backwardation of the benzene forward curve is retained- Styrene arbitration with Europe remains closed on paper The US July DDP-benzene price rose by 45.50c/gal from June 27 to 650c/gal, despite continued support for the prompt month. WTI crude futures rose $1.95-2.50/b to $109.57-135.25/b on June 27, an increase of 1.81%. Benzene rose 7.53%. The ratio o...

Market for forward-month...

- Market for forward-month selling/buying- Choctaw at parity in front/forward months Spot market US ethylene prices were steady to begin the week on June 27th, with EPC and Choctaw remaining unchanged. June spot EPC ethylene was steady at 26 cents/lb FD Mont Belvieu on the day. In the last week in June, the market was focused on front-month activity. Based on a tight...

Market calm ahead of the...

- Market calm ahead of the holiday weekend- EIA data delay continues Spot prices of nitration-grade toluene (MGT) and mixed xylenes dropped on June 27 in line with lower blend values and falling gasoline prices. July NGT and August MX were 595.00 cents/gal FOB USAG. Each was 13.50 cents lower on that day. The assessment was adjusted to blend values in the absence of new indic...

Asia Naphtha Demand Retur...

- Asia Naphtha Demand Returns- European refinery update Sources said that the European naphtha market was experiencing some support due to tentative signs of an increase in demand from Asia on June 27. Sources said that the recent strength was largely Eastern-led. According to a market source, the Korean strike was over, giving the market more confidence. He also said tha...

Asia markets are quiet du...

- Asia markets are quiet due to tepid demand-  Last week, the paper market flipped into backwardation On June 27, the Asian naphtha market was quiet with very little trading activity due to tepid demand. According to tender results, Formosa concluded its term tender at $5-6/mt below the Mean Japanese assessments. Kuwait Petrochemical Corporation concluded its sell tender at $2...

Discussion | Start-up in...

- Discussion- Start-up in H2 brings new capacity Asian butadiene prices remained stable in thin trade on 26 June. The discussion remained limited due to limited spot availability, lower steam cracker operations, and declining demand. China's domestic market was stable after the previous session. It was assessed at Yuan 10,800-11,000/mt on June 27. This equates to $1,398-1,420/...

92 Ron up 1.2%; crude hig...

- 92 Ron up 1.2%; crude higher by 2.5% on day- Asia to-US/ARA MTBBE Arbitrage remains open Asian FOB Singapore MTBE surged $45-50/mt to $1,371-1,400/mt in the morning. This was due to active buying interest and firmer crude oil and gasoline markets. The 92 RON gasoline rose 1.19% to $148.56-170.25/b. Meanwhile, the front-month ICE Brent crude oil futures were up 2.53% to $113.40-140...

Trading remains thin | L...

- Trading remains thin- Lotte Chemical plans to make Yeosu steam cracker run at its full rate by July The CFR China propylene market held its ground on June 27 after a four-day decline in trading. The August ICE Brent crude oil futures rose $2.8-4.1/b to $113.40-140.10/b after the previous session, but this did not help the market. A propylene trader from China stated that th...

Brent rises by $2.8-4.1/b...

- Brent rises by $2.8-4.1/b- DCE down Yuan68-90/mt on the day Prices of Asian mono ethylene glycol were stable on June 27, amid quiet discussions. On the Dalian Commodity Exchange, September MEG futures were active and fell from Yuan 68-90/mt to Yuan 4,485-4,550/mt. Ex-tank August ICE Brent crude oil futures increased $2.8-4.1b to $113.4-140.5/b by the 0830 GMT Asian closing on...

Domestic price increases...

- Domestic price increases Yuan 40-60/mt ex tank- Methanol prices are still under pressure in India On June 27, the Asian methanol market was stable as buyers resisted spot purchases in anticipation of clearer market direction. The Yuan 40-60/mt local price in east China rose to Yuan 2,550/mt Ex-Tank June on the same day, a slight recovery from the Yuan 105-150/mt plunge on June 24...

H2 July buying Interest t...

- H2 July buying Interest tepid­- Limited Offers Participants were in wait-and-watch mode as a result of bearish downstream sentiment. The Asian ethylene markets weren't much discussed on June 27. Participants said that there were few offers and that buyers were scarce due to weak demand for H2 July. According to a source familiar with the matter, PTT Global Chemical, Thailan...

Rising domestic prices in...

- Rising domestic prices in India and China- The demand from Southeast Asia is low On June 27, Asian toluene prices rose largely in line with gains in crude oil. Trading sources indicated that Asia's mismatched demand and supply fundamentals will likely lead to firmer prices in Northeast Asia, and lower prices in Southeast Asia, and South Asia, this week. Buyers from South Korea ar...

Sinopec reduces the listi...

- Sinopec reduces the listing price by Yuan 200-250/mt- China's domestic prices rise by Yuan 135-170/mt Asian benzene prices rose to $26-30/mt on June 27, at $1,254-1,300/mt FOB Korea. Buyers bid higher. In the morning trading session, the bid was set at $1250-1280/mt for August cargoes. The September cargo was offered at $1,217-1,240/mt. The offer for August cargo was $1,251/...

PXX-MX spread flips to ne...

- PXX-MX spread flips to negative- China’s Sanfangxiang restarts the PTA plant Asian paraxylene saw pricing support from rallies in the energy sector on June 27, but short-term bullishness remains on tight supply. Paraxylene rose $17-23/mt between June 24 and $1,266-1,300/mt CFR Unv1/China, and $1,246-1,280/mt FBO Korea June 27. August ICE Brent crude oil futures increased $2...

China Hengli shuts down S...

- China Hengli shuts down SM unit for maintenance- China's export market is still active Asian spot styrene monomer prices rose by $28-32/mt to $1,328.5-1,350/mt CFR China marker. The China domestic price, however, was up Yuan190/mt at Yuan 10,485-10,550/mt exp-tank. This equates to $1,360-1,400/mt if you use import-parity. Higher upstream prices and tighter local supply were the m...

Rising crude support MX...

- Rising crude support MX- US Demand Fails amid Long Shipping Time Asian isomer-grade mixed xylene rose $24-28/mt between June 24 and $1,273-1,300/mt FOB Korea, and $1,223-1,250/mt CFR Unv1. It was also up to $5.50-6.25/mt on June 27 at $1,089-1,100/mt China CFR China, on the back of firm upstream prices, and support from Asian demand, sources stated. August ICE Brent crude oil fu...

Market calm ahead of the...

- Market calm ahead of the holiday weekend- The difference in backwardation between July and August is slightlySpot MTBE prices in the US Gulf Coast fell 4.18 cents to 464.57c/gal FOB USG on June 27. The MTBE premium over gasoline was the same at 90.58c/gal. There were no trades, bids, or offers in the Market during the Close assessment process. NYMEX August RBOB was settled at 383.72 Cents/gal, a...

Contract settlement liqui...

- Contract settlement liquidity low- Styrene margin turns negative On June 27, activity in the European benzene markets was muted. This was following a French industry conference that took place in Marseilles the week before. The market saw little trading activity as the July contract price settlement was opened. This is a five-day period that takes place in spot trading.&nbs...

MTBE Premium remains stab...

- MTBE Premium remains stable at $612-630/mt- is strengthened by gasoline-naphtha. Spot European methyl tertiary ether prices began the week on a strong note, June 27, in line with firmer crude oil and gasoline. However, the MTBE market remained muted. European MTBE was valued at $1,920-1,950/mt FOB ARA. This was up to $14.50-20.10/mt on the same day as higher gasoline prices....

July Offers Fall Sharply....

- July Offers Fall Sharply. We are unable to solicit any Deals.- Continued logistical logjams crush purchasing appetite Due to softening demand, US spot export polyvinylchloride prices fell $310-340/mt over the week of June 29. This was based upon a firm offer at $1300-1325/mt FAS Houston. Prices were set at $1,310-1,320/mt FAS Houston. The offered level was the highest, w...

Lower pricing was seen in...

- Lower pricing was seen in the light of the softening Asian demand- Domestic PET pricing slides after upstream PTA contract settlement The US import polyethylene Terephthalate price was down 3 cents/lb from the week of June 29, to $2,116-2,138/mt (96-97c/lb) DDP US West Coast. This is based on lower pricing indicators and softer demand in Asia. According to market sources, im...

Phillips66, TotalEnergies...

- Phillips66, TotalEnergies force majeures keep- Exxon places PP clients on allocation: letter The US Gulf Coast spot propylene levels were down by almost $100-130 due to a lack of market activity. However, the upstream propylene monomer was flat week-on-week because of the bearish market sentiment. The US export homopolymer injection grade PP was down $88 from the previous wee...

Americas receives flat-of...

- Americas receives flat-offer- The styrene market down for a week Sources are still waiting for market reactions to the US acrylonitrile-butadiene-styrene assessment. Spot ABS was valued at 124.5 cents per lb, which was flat over the week. Pricing for domestic US railcar and truck cars was discussed below 130 cents/lb. Prices in Brazil were also heard as static, wit...

Market long amid weak dem...

- Market long amid weak demand- The market waits for clarity on feedstock developments The European acrylonitrile-butadiene-styrene market continued to see weak demand in the week to June 29. Although the European contract market saw a decline in June, the spot market in Europe was almost empty. "There is no spot interest... Nobody is interested." A producer stated t...

Weak downstream prices fo...

- Weak downstream prices force polystyrene- Uncertain outlook caused by global inflation Due to weak downstream demand and low upstream prices, Asian polystyrene prices dropped $30-35/mt. Inflation was causing shrinkage in both export and domestic orders globally as global demand for final products is slowing. This was mainly due to the decline in demand, especially in China an...

Lower final product order...

- Lower final product order by 40-50%- ABS margin remains negative Asian Acrylonitrile-butadiene-styrene was assessed down $60-65/mt on the week at $1,640-1,680/mt CFR China June 29, weighed by shrinking downstream demand on final products and lowered upstream prices. Sources claim that global inflation has caused a decline in demand for final products both at home and abroad.&...

China's prices fell on th...

- China's prices fell on the week, despite a slight rebound- Southeast Asia's demand hits On June 29, prices in the Chinese and Southeast Asia polypropylene market fell. East China prompt domestic cargo dropped by Yuan 25-28/mt during the week, closing at Yuan 8450-8480/mt. Against a host of macroeconomic factors, East China PP prices dropped to a 19-month low last week. So...

HIPS trading heard at Eur...

- HIPS trading heard at Eur2,450-2,480/mt or higher- June contract pricing rollover starting in May In the European polystyrene marketplace, demand declined in the week ending June 29, while spots saw pockets of higher pricing. According to a trader, HIPS trading was recorded at Eur2,450-2,480/mt by a European producer. Higher levels were also seen in other trading houses thro...

Market length ongoing |...

- Market length ongoing- Participants seek to settle the propylene contract price In the week ending June 29, the European polypropylene market was long, with continued downward pricing trends in spot markets. One converter stated that the market was quiet and the monthly pricing trend is still very strong. Commodity Insights assessed homopolymer spot price drops of Eur30...

July activity is expected...

- July activity is expected to slow down ahead of summer break- Upstream monomer contracts in focus The European linear low-polyethylene market activity was muted in the week up to June 29, due to a lack of buying interest, weak downstream demand, and fears of further price drops. Buyers were waiting for July pricing with the European industry-settled monomer contract price se...

Under pressure on produce...

- Under pressure on producers' margins- The demand remains strong The European virgin polyethylene terephthalate price was stable during the week ending June 29. Market participants focused on developments in the upstream paraxylene markets and closely followed the discussion about the June PX contract price. The European virgin PET market has been under a cloud of uncertainty...

Month one July CP propane...

- Month one July CP propane exchange at $725-750/mt. Stable on the day- Lifters recommend Jul Saudi term CCPs at $705-730/mt in round 2.The month-one July Saudi Propane CP Swap was valued at $725-750/mt on June 29, unchanged from the previous day and $25-30/mt lower than the June term CPs. On June 29, traders reported that term LPG lifters had made second recommendations for July's CPs....

Asia LPG is growing, but...

- Asia LPG is growing, but not as fast as Brent- PetroChina purchases H2 Aug-delivery Propane from Glencore Asia LPG prices rose slightly on June 29 but fell short of the $5.44-6.25/mt gain recorded in August Brent crude futures on the previous Asian close. This was on the eve of Saudi Aramco's July term contract price release. H2 July CFR North Asia propane rose $3.5-4.8/mt to $7...

Methanex Announces July C...

- Methanex Announces July Contract Flat at 182 Cents/gal- July spot prices at 102c/gal The spot price of US methanol was unchanged despite lower offers throughout the day. On the day, July offers of as much as 110 cents/gal and as low as 107 cents/gal FOB ITC was heard. July prices were stable at 102c FOB USG, despite a lackluster buying activity. August prices remained fl...

Market shifts focus to Ju...

- Market shifts focus to July contract negotiations- Spot Styrene Variable Costs Lower, Still Above Netback Levels for Export Due to weakness in upstream energy, and rising bearish sentiment, US July DDP-benzene dropped by 30 cents/gal to 605c/gal on June 29, falling by $30/gal. WTI crude oil futures dropped $1.98/b to close at $109.78/b. This is a decrease of 1.77% from June 29.&n...

August indications are no...

- August indications are not available for EPC or Choctaw- Choctaw Ethylene falls.25c on the day The US ethylene spot market price was stable to slightly lower than the previous day, as market participants remained fair. Choctaw Ethylene fell.25c to 25.75c/lb FD Choctaw July. This was based upon a July bid/offer at 25-26c/lb Choctaw pipe. August Choctaw Ethylene also fell.25c...

The day is a good day for...

- The day is a good day for bidding- Second week of rising stocks in blended components: EIA Spot prices for US nitration-grade toluene (and mixed xylenes) rebounded on higher bids. Each July NGT and MX were assessed at 636c/gal, an increase of 33 and 41 cents respectively. The US Energy Information Administration released data for the week ending June 24, after a delay of...

European market weakening...

- European market weakening- Indonesia's naphtha exports fall In the face of recessionary signs, there were growing concerns about European naphtha markets' winter demand. A market source stated that there have been "massive amounts of economic run-off in Asia." He said that Europe was a little more difficult. However, Europe's Polypropylene margins are negative. Propylene and...

New buying activity seen...

- New buying activity seen- End users enter the spot market for stock restocking On June 29, the Asia naphtha market saw renewed buying activity from end-users. However, market participants stated that this was not a sign of a recovery in demand from naphtha-fed steam crackers because downstream margins remain poor. Lotte Chemical was reported to have issued a term tender for...

Downstream rubber sector...

- Downstream rubber sector faces weaker demand, softer margins - Import trades are hindered by a persistently wide price gap between buy/sell levelsChina's spot butadiene prices dropped on June 29 as market sentiment turned more bearish due to weaker downstream demand. The Chinese domestic supply seemed to have increased as a result of production cuts in the downstream synthetic rubbe...

A slew of China's July-lo...

- A slew of China's July-loading MTBBE likely to sail to the Straits- 92 RON edges lower 0.37%; 92 RON crack dives 5.07% The Asian MTBE market dropped $5-6/mt to $1,366-1,380/mt on June 29, as the peak summer demand season nears its end due to weaker gasoline prices and slightly firmer crude oil prices. The 92RON gasoline fell 0.3% to $148.02-165.25/b. While the 92RON crack dropped...

China's prices fell on th...

- China's prices fell on the week, despite a slight rebound- Southeast Asia's demand hits On June 29, prices in the Chinese and Southeast Asia polypropylene market fell. East China prompt domestic cargo dropped by Yuan 25-50/mt during the week, closing at Yuan 8450-8600/mt. Against a host of macroeconomic factors, East China PP prices dropped to a 19-month low last week. Sour...

Weak C3 derivatives hit d...