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Welcome to Chemical Update

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Latest News

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...

- Weak C3 derivatives hit demand- Korea’s SK Advanced will restart Ulsan PP Plant by July 3 On June 29, the Asian propylene market was stable as buyers waited for clear market direction before making spot purchases. August ICE Brent crude oil futures rose $1.07-2.10/b to $117.66-135.25/b by 0830 GMT Asian close, June 29, but this did not lift the propylene markets. A South Ko...

High inventories dampen d...

- High inventories dampen demand- DCE down Yuan60/mt on day Under muted discussion, Asian mono ethylene glycol was down $10-15/mt at $550-570/mt CFR China on June 29, amid a $10-15/mt assessment. The active-traded September MEG futures on Dalian Commodity Exchange fell from Yuan 60-100/mt to Yuan 4,408-4,500/mt expand. Buyers took a cautious approach to the fall in MEG prices...

China offers and bids at...

- China offers and bids at a fixed price- Indian prices are affected by depreciation and tepid demand Methanol futures on the Chinese market rebounded for the third consecutive day, while crude oil futures traded higher. However, discussions for spot cargoes were sparse on June 29. Participants in the market heard that a $320-350/mt CFR China bid was made, but they were un...

Chinese domestic prices d...

- Chinese domestic prices dropped for the second consecutive day- Unv1's Formosa Chemicals will close the No. 2 steam cracker earlier for weak Margin Sentiment in Asian Ethylene Markets declined on June 29 due to falling prices in both Chinese domestic and import markets. The CFR Northeast Asia markets saw a decline in buying indications week-on-week. Many buyers stated that...

Continued outflow of Chin...

- Continued outflow of Chinese cargoes- Indian buyers maintain lower bids for xylenes Asian toluene was valued at $10-15/mt lower on June 29 at $1.215-2.250/mt FOB Korea, and $1.140-2.500/mt CFR China, in line with weaker downstream market and lower domestic prices. Trading sources claimed that cargoes of China-origin were heard heading for Singapore after FOB Zhangjiagang offers.&...

Supply locked in the regi...

- Supply locked in the region- Lackluster demand capping uptick Arbitrage flows from Asia remained closed in most places, resulting in muted activity in the Asian benzene marketplace on June 29. FOB Korea's benzene market dropped $10-15/mt to $1.258-2.500/mt as sharp offers in the mid-afternoon were canceled by a bid at $1,253-1,290/mt late afternoon for an August cargo. A CF...

China's Polyester Produce...

- China's Polyester Producers debate run cuts- PTA-PX spread under pressure Asian paraxylene fell $31.50-35.25/mt to $1,259-1,290/mt CFR Unv1/China on June 29. This was weighed down by sharp falls in the downstream market as well as the weakening sentiment. As producers cut production to maintain prices, there was talk of run-offs at China's main polyester plants. According to...

July/August structure ste...

- July/August structure steeper- A healthy export market means the less domestic supply in July Asian spot styrene monomer prices were down $21-25/mt to $1,317-1,350/mt CFR China marker. The China domestic price was down from Yuan 110-150/mt to Yuan 10,440-10,600/mt exp-tank. This equates to $1,351-1,380/mt import-parity on June 29. The spot market in China was weaker during the da...

Crude moves higher | Chi...

- Crude moves higher- China exports to Mexico in a rare move Asian isomer-grade mixed xylene dropped $17-20/mt to $1,265-1,300/mt FOB Korea. It was down $12-15/mt to $1,220-1,250/mt CRU Unv1. and $2-3/mt to $1,090-1,120/mt CRU China June 29, in line with weak paraxylene markets. Paraxylene fell $31.50-35.25/mt at $1,259.92/mt CFR Unv1/China on June 29. Upstream crude oil, how...

The inventories of blende...

- The inventories of blended components rise but remain lower than last year- Refinery utilization rises up to 95%: EIA Spot MTBE prices for the US Gulf Coast were lower than expected on June 29, at 462.91c/gal FOB USG. This is in line with the drop in gasoline. Market on Close did not see any activity and the premium to August RBOB remained unchanged at 90.58c/gal. The US En...

Benzene August prices tum...

- Benzene August prices tumble- Styrene activity muted As June ended, European benzene prices dropped on June 29, with a strong backwardation in July and August delivery dates. Due to higher gasoline demand, European stock levels were constrained. In August, there was a backwardation structure that indicated some hope for supply improvement, despite the fact that aromatics we...

MTBE premium Stable at $5...

- MTBE premium Stable at $587.75-600.20/mt- The gasoline-naphtha spread narrows Due to lower gasoline prices, spot European methyl Tertiary Butyl Eth flat prices fell on June 29. European MTBE was valued at $1,880-1,920/mt FOB ARA. This was $13-17 less than the previous day due to lower gasoline prices and no activity during the Market on Close. The MTBE premium was steady over...

June CGP CP CP at 49.5 Ce...

- June CGP CP CP at 49.5 Cents/lb - 10 cents down- Long supply of ammonia, healthy demand The US spot acrylonitrile price fell for the sixth week in a row on June 28. This was due to falls in key global markets and last market indications. US spot ACN prices dropped $45-50/mt week-on-week on June 28, with US Spot ACN trading at $1,910-1,940/mt FOB US Gulf Coast. This...

Producers are under press...

- Producers are under pressure because of upstream costs- Market participants continue to look at China The European acrylonitrile markets continued to be defined by limited spot activity in the week ending June 28. However, a surplus of materials has maintained the market's length. A trader said that Europe's demand is slow and there is not much going on. This week saw the mar...

Unv1 CPDC reduces ACN pla...

- Unv1 CPDC reduces ACN plant run rates to 85% because of weak margins- Taekwang Industrial maintains the ACN plant's run rate at 90% in July The weekly trend for Asian acrylonitrile fell on the week of 26 June due to a continuing supply glut and low buying interest. China's commercial capital of Shanghai was reopened on June 1, following the lifting of COVID-19 movement rest...

Kumho Petrochemical plans...

- Kumho Petrochemical plans to close its No. Kumho Petrochemical plans to  close its No. 2 plant in July- A softer China domestic market with weak downstream manufacturing In the week ending June 28, Asian phenol and Asian acetone markets were steady-to-weak as rallies within the upstream energy sector continued to increase feedstock costs while weak demand from China weig...

Phenol Market Set to See...

- Phenol Market Set to See July Benzene Contract Rise- IPA stable amid thin liquidity ACETONE: US spot Acetone held steady at $992-1010/mt (45c/lb) FOB USG June 28, based on pricing indications of 44-46c/lb. The domestic acetone contract assessment for April truck and railcar remained at 55.50c/lb (1.224/mt) during the week. It was reported that US traders were open to Eu...

IPA and MEK stable with p...

- IPA and MEK stable with persistent market conditions- ETAC falls upon adequate supply and lower demand ACETONE/PHENOL - The European acetone spot prices are at Eur980-1000/mt. FD Northwest Europe June 28. This is down Eur10-13/mt. It falls within the indicative price range of Eur950-low Eur1,000s/mt that was heard from a distributor. A distributor stated that the acetone mar...

Is strengthened by domest...

- Is strengthened by domestic spot and contract caustic prices- Contract Chlorine Prices up to $100-120/DST Spot export caustic soda prices in the USA were unchanged for the week of June 28, at $795-$805/DMT FOB USG. This was based on stable pricing indicators and tight supply. Spot domestic caustic soda prices were up to $45-50/dst for the week of June 28, at $810-825/ds...

Month one July CP propane...

- Month one July CP propane exchange at $725-740/mt and up to $8-10/mt per-day- Aug Sep CP propane swap contango increases to $4.5-5.5/mt The month-one July Saudi Propane CP Swap was valued at $725-740/mt. This was up to $8-10/mt during the day. It was $25-30/mt lower than the June term CPs and ahead of Saudi Aramco's June 30 announcement of July term contract prices. The second r...

Asia LPG surges to a reco...

- Asia LPG surges to a record high of over one week but is below Brent's increase- Itochu purchases H2 August delivery propane at Glencore Asia LPG prices increased on June 28 to a more than one-week high. However, it was not as steep as the $32.96-35.50/mt jump August Brent crude futures saw from the previous Asian close. The region remained well supplied. H2 July CFR North Asia...

Market remains saturated...

- Market remains saturated- Falling downstream demand Spot methanol in the US Gulf Coast was stable on June 28. Sources said that spot activity has been slow in recent weeks due to the oversupply of the market. Sources said that rising interest rates had hampered construction and led to lower demand downstream formaldehyde. Sources said that three downstream acetic acid...

The market expects a high...

- The market expects a higher July contract price- Styrene Market sees liquidity pause US July DDP-benzene dropped by 15 cents/gal to 635c/gal on June 28, as market tightness eased. Sources indicated that high-priced rolls of benzene were closed on June 27th, but that the market was softening as more prompt benzene volumes were available. Due to the high demand for benzene, der...

July ethylene trades at 2...

-July ethylene trades at 25.5 Cents/lb-July is now a front-trading month After a lower trade, US Gulf Coast spot Mont Belvieu Ethylene fell on June 28. July Mont Belvieu's ethylene fell 0.5 cents on the day to 25.5c/lb FD Mont Belvieu. This was following a July trade at 25.5c/lb MtB Pipe. In spite of limited activity, July Choctaw ethylene was steady at 26 cents/lb FD Choctaw....

Very little liquidity bef...

- Very little liquidity before the holiday- Supply is slightly loosening Spot prices for US toluene rose on June 28 due to a trade executed on the day and signs of strength in upstream energy. The June NGT was evaluated at 603.00c/gal, which is 8 cents more than the previous day. Trades for 25,000 barrels June/July CGT were heard at 603.00c/gal. Market feedback suggests that CG...

Arb To Naphtha Open | An...

- Arb To Naphtha Open- Antwerp refinery stops Market sources say that arbitrage between Europe and Asia is possible due to increasing demand. According to a market source, the arbitrage from Europe to Asia is "definitely open." He said that although it was slow in Europe for petchems, there is some improvement. It was improving due to "better demand." The East is pul...

China's Zhejiang delays t...

- China's Zhejiang delays the startup of its new company to August- Demand limit Discussion Asian butadiene prices remained stable in thin trade on 26 June. Discussions remained limited due to limited spot availability and lower steam cracker operations. China's domestic market was stable after the previous session. It was assessed at Yuan 10,800-11,000/mt on June 28. This equates...

92 Ron up 0.01%; crude oi...

- 92 Ron up 0.01%; crude oil up 2.81% on the day- Hyundai Oilbank offers 15,000 to 40,000 mt/month of MTBE loading H22022 Asian FOB Singapore MTBE was flat at $1,371-1,400/mt on June 28, despite a stable gasoline market and thin liquidity. The 92RON gasoline gained 0.01% over the day to $148.57-160.26/b. Meanwhile, the 92RON crack fell 9.04% to $31.98/b. Front-month ICE Brent...

Avoid imports | South Ko...

- Avoid imports- South Korea's Taekwang will run a PDH plant at 90 percent in July On June 28, the Asian propylene market fell as buyers refused to purchase imports. The August ICE Brent crude oil futures rose $3.19/b to $116.59/b after the previous session. However, the increase did not lift the propylene markets. A source stated that the propylene market in China is weak. T...

Brent rises to $3.19-5.0/...

- Brent rises to $3.19-5.0/b- DCE up Yuan 23-40/mt on the day Prices of Asian mono ethylene glycol were stable on June 28, amid quiet discussions. On the Dalian Commodity Exchange, September MEG futures were active and rose Yuan 23-40/mt to Yuan 4,508-4,700/mt ex tank. Buyers took a cautious approach to the fall in MEG prices over the past week. However, producers weren't eager...

Domestic price increases...

- Domestic price increases Yuan 83-95/mt ex tank- Sellers eye floating price As a result of a rebound in domestic prices, the methanol CFR China market gained some ground on June 28, but it was not as strong as it was before. The Yuan 83-100/mt local price in east China increased to Yuan 2,633-2,750/mt Ex-Tank June. However, bids and offers for methanol imports remained low a...

High downstream inventori...

- High downstream inventories limit ethylene purchases- Chinese domestic market prices fall The mood in Asian ethylene markets was bearish as a result of low derivative margins and tepid demand. The Chinese domestic market prices were down Yuan 200-250/mt on the week at Yuan 7,900-8000/mt exp-tank June 28. Producers cited lackluster support from downstream PE, SM, and MEG margins.&...

Discussions muted about h...

- Discussions muted about high feedstock prices- Chinese Toluene Exports Jump in 2022: Customs Data The higher oil and energy prices on June 28, which led to a rise in Asian toluene, pushed up prices. Spot discussions were quiet with some discussing the high feedstock prices, while supplies were still very tight. Although demand was evident from Southeast Asia, buyers were gen...

Bids rise in the afternoo...

- Bids rise in the afternoon- China’s domestic market companies Asian benzene was valued at $10-15/mt on the day at $1.268-2.245/mt FOB Korea, June 28, in consideration of higher bids. The morning trading session started slowly with a fixed bid at $1250-1280/mt August cargoes. However, the offer level for the same delivery layman was $1,253-$1,260/mt. In the afternoon trading s...

August Discussions Lead U...

- August Discussions Lead Uptrend- China's Shenghong will build a new PTA facility Asian paraxylene rose $24.59-30.25/mt to $1,291-1,320/mt CFR unv1/China on June 28 and $1,271..1,310/mt FBO Korea on June 28, due to firm buying interest in August arrivals and the bullish trend for crude oil. Despite the slow momentum of the previous session, August deliveries saw a surge in buying...

SM margin remains negativ...

- SM margin remains negative- New capacities realized on-spec SM Asian spot styrene monomer prices were evaluated at $10-15/mt at $1,338-1,370/mt CRC China marker. The China domestic price was assessed at Yuan 65-80/mt at Yuan 10,550-10,700/mt Ex-Tank. This equates to $1,367-1,400/mt based on import-parity on June 28. Given the strong export market from China, sources expect higher...

Crude jumps once more |...

- Crude jumps once more- CPC Issues Aug Sell-Tender Asian isomer-grade mixed xylene rose by $9-10/mt to $1,282-1,310/mt FOB Korea, and $1,232-1,260/mt CFR Unv1. It also rose up $3-4/mt to $1,092-1,120/mt CFR China on June 28, on the backs of rising crude oil prices. August ICE Brent crude oil futures jumped by $3.19-4/b to $116.59-130.20/b in Asian trade at 0830 GMT. Paraxyle...

Premium to gasoline stabi...

- Premium to gasoline stability amid low liquidity- The gasoline backwardation rate is mostly constant US Gulf flat prices of MTBE in the US rose on June 28 to reflect strength within the global energy system. US Gulf Coast spot MTBE is now at 475.00c/gal FOB USG. This is 10.43c higher than the previous day. During the Market on Close assessment process, there were no trades or...

Less than 10 trades were...

- Less than 10 trades were heard in the contract settlement window- Styrene Premium over Benzene Returns to Thin Positive Benzene prices dropped on June 28th in Europe, as traders were heard to have stopped trading on June 27th. Two of the three July trades for July were concluded on June 28 at $1780-1810/mt, while the third was at $1790-1820/mt for July delivery. This was in...

MTBE Premiums drop to $58...

- MTBE Premiums drop to $587.75-600.25/mt- The gap between the gasoline-naphtha spread and On June 28, spot European methyl Tertiary Butyl Ether outright prices dropped due to the Market's selling appetite. European MTBE was valued at $1.893-2.725/mt FOB ARA. This is $27-30/mt less than the offer of $1.894-2.725/mt during the MOC process. A 1,000 mt offer was also available at...

Current price of 3,5 luti...

3,5 lutidine drop 10.00 by Rs.370/kg in ex-Bhilai offer price is Rs.360/kg.

The price of 2,3 lutidine...

In ex-Bhilai 2,3 lutidine rate was Rs.570/kg lessen by 10 current rates is Rs.560/kg.

Xylenol price declined.

2,4-2,5 xylenol drop 5.00 by Rs.265/kg in ex-Bhilai current offer is Rs.260/kg. 

The price of VAM has redu...

VAM price was Rs.200/kg reduced by 2.00 now its Rs.198/kg in ex-Kandla.

In india THF rate down 5....

THF rate down 5.00 on Rs.500/kg in imported latest price is Rs.495/kg.

Soda ash light is raised...

In ex-Bhiwandi soda ash light rate was Rs.48/kg rise by 1.00 new price is Rs.49/kg.

Meta para cresol latest p...

Meta para cresol lessens by 10.00 on Rs.410/kg new offer is Rs.400/kg in ex-Bhilai. 

Epoxy resin rate down in...

Epoxy resin rate was Rs.330/kg drop by 20.00 in ex-Nhava Sheva's latest offer is Rs.310/kg. 

The price of THF declined...

THF rate was Rs.500/kg lessen by 10.00 in imported current price is Rs.490/kg.

MIBK in Kandla down to 12...

In ex-kandla MIBK price was Rs.123/kg drop 1.00 latest offer is Rs.122/kg.

In India, MEG has increas...

MEG price rise 3.00 by Rs.59/kg in ex-Mumbai new offer is Rs.62/kg.

The Price of LAB has incr...

In Ex-port LAB rate was Rs.172/kg increased by 1.00 latest offer is Rs.173/kg. 

Current Price of Hexane i...

Hexane rate lessen 2.00 by Rs.105/kg new offer is Rs.103/kg in ex-kandla.

Caustic soda lye droped 2...

Caustic soda lye last price was Rs.58/kg drop by 2.00 in ex-GACL latest price is Rs.56/kg.

In India Butyl Cellosolve...

In ex-kandla Butyl Cellosolve  rate was Rs.179/kg lessen by 1.00 latest offer is Rs.178/kg. 

Butyl acrylate monomer pr...

Butyl acrylate monomer price was Rs.170/kg down by 2.00 current offer is Rs.168/kg in ex-kandla.

Acrylic acid Latest Pric...

Acrylic acid price reduced 8.00 by Rs208/kg in ex-Bhiwandi new rate is Rs.200/kg. 

1 rs increased in Acetone...

In ex-kandlaAcetone rate is Rs.69/kg drop by 1.00 new offer is Rs.70/kg. 

Acetonitrile imported int...

Acetonitrile imported intact rate was Rs.280/kg grow by 5.00 latest rate is Rs.285/kg in Bhiwandi. 

Russia-Ukraine conflict c...

-Russia-Ukraine conflict could pressure prices: sources-Mercosur prices still flat, new higher values expected Sources said that the prices of Latin American polypropylene were higher in South America on March 2, while they were unchanged in Brazil, Mercosur and Brazil. Spot homo polypropylene prices along the West Coast of South America were $30-35/mt more at $1,710-1,740/mt CFRW...

March pricing settles hig...

-March pricing settles higher-Logistics logjams continue to stymie exports Spot US export polyvinylchloride prices were up $25-30/mt on week March 2. Based on deals made in a range between $1,575-1,610 and $1,585-1,620/mt FAS Houston. These prices were used to assess the range. This range represents a producer-to trader price and does not include freight or insurance. T...

USWC port congestions eas...

-USWC port congestions ease slightly-Feb PTA contract up nearly 5 cents on month Despite higher upstream settlements and price rises, the US polyethylene Terephthalate markets remained stable in the week ended March 2. Import PET resin prices were assessed unchanged on the week at $2,139-$2,161/mt(97.50-98.50 cents/lb) DDP US West Coast, based on previous market talk of pricing in...

Spot propylene continues...

-Spot propylene continues to strengthen-North American PP production rises 18% on month in January Sources said that US homopolymer injection grade polypropylene pricing continued rising through the first quarter. This was due to firmer spot propylene monomer prices and talk about higher supplier selling ideas. Spot homopolymer-grade polypropylene export prices were assessed at $1...

Spot ACN stable, butadien...

-Spot ACN stable, butadiene rises-Styrene climbs as benzene surges As styrene monomer rose higher, the US acrylonitrile butadiene Styrene assessment continued to climb through the first quarter 2022. Spot ABS was valued at 135.5c/lb ($2,985-3,020/mt), an increase of 2 cents ($44-50/mt). US styrene prices increased $59.50 in the upstream sector from February 22 to $1.572-2.65...

Higher upstream pushes up...

-Higher upstream pushes up offers-Demand recovery remains slow Caution prevailed in the European acrylonitrile-butadiene-styrene market in the week to March 2 amid the impact of rising composite feedstock costs against more balanced supply and demand fundamentals. Market sentiment was impacted by the arrival of Asian material at a competitive price. Although one source doubted the...

PP inventory comes down i...

-PP inventory comes down in China-Demand in FEA, SEA moderate The week saw a rise in polypropylene prices due to strong upstream prices, led by crude oil prices. The day saw a sharp rise in China's local prices, which was followed by a firm futures market, despite a lack of demand. A source claimed that the Yuan 8,900 to 9,000 local producers offered today for raffia. Cu...

Bottle grade PET demand s...

-Bottle grade PET demand stable-Polyester yarn, fiber demand weak As market participants responded to rising crude oil prices and higher feedstock costs, bottle grade PET was more popular in Asia in the week ending March 2. A steady week of demand was reported by several sellers, who received consistent inquiries. Some sellers reported additional interest from buyers in Euro...

Muted activity amid suppl...

-Muted activity amid supply uncertainty-Monomer jumps Eur95/mt Due to uncertainty about supply and demand, the European polypropylene market sentiment was subdued March 2, amid concerns over Russia's invasion of Ukraine. Sources said there was uncertainty about the expected imports from Russia and Ukraine. Sources said that there was uncertainty about expected imports due to...

Supply heard to tighten a...

-Supply heard to tighten as import volumes remain delayed-Lower offer levels heard disappearing from market In the week ended March, prices on the European linear-low-density polyethylene market rose. 2, despite waiting to see whole scale March offer levels. Upstream news: The March European industry-settled ethylene contract price was increased to Eur95-96/mt starting Febru...

Buyers return to stockpil...

-Buyers return to stockpiling-Imports heard getting expensive Spot prices for European virgin polyethylene Terephthalate rose in the week to March 2 due to increased demand and an increase in energy prices after Russia's invasion of Ukraine. On March 2, the NWE price for virgin PET rose Eur40-43/mt, up from Eur1,510-1,530/mt which had been held since February 2. This was du...

Asian ABS: Rises $5-6/mt...

Asian ABS: Rises $5-6/mt on firmer upstream, higher offers ■ Hong Kong inventories releasing via ship delivery ■ Limited discussion on uncertain outlook Asian Acrylonitrile-butadiene-styrene, or ABS, spot importing CFR China price was assessed up $5-6/mt on the week at $1,865-1,900/mt CFR China and up $5-6/mt for the same period at $1,915-1,955/mt CFR Southeast Asia on March 2. The Asia...

Asian Polystyrene: Up by...

Asian Polystyrene: Up by $10-$35/mt on firm upstream ■ Higher upstream pushes up offer■ Demand recovery remains slow The Asian general-purpose polystyrene spot price increased by $35-40/mt to $1,485-1,515/mt China on Wednesday, and by $35-40/mt to $1,635-1,670/mt Southeast Asia on March 2. Meanwhile, the high-impact polystyrene price (HIPS), was up $10-15/mt to $1,495-1,520/mt Chin...

Asian PP: Rises on higher...

Asian PP: Rises on higher upstream, China local prices surge ■ PP inventory comes down in China ■ Demand in FEA, SEA moderateThe week saw a rise in polypropylene prices due to strong upstream prices, led by crude oil prices. The day saw a sharp rise in China's local prices, which was followed by a firm futures market, despite a lack of demand. A source claimed that the current offe...

Asian Recycled HDPE: Stab...

Asian Recycled HDPE: Stable amid thin trade ■ rHDPE bottle grade in demand over film ■ Recycled containers priced above virginOn the basis of thin trade, Asian recycled high-density polyethylene natural film pellets have been rated stable since March 2. One producer stated that producers were still searching for sustainable sources given that 20 percent of global oil production could be...

Asia LLDPE: Rises in Sout...

Asia LLDPE: Rises in South Asia on higher offers■ Crude hikes $10.61-16.10/b on day ■ Producers mull over feedstock sales Prices of Asian linear low density polyethylene were higher in the week ending March 2, in South Asia, due to increased offers and firm energy values. In China, prices dropped due to lower discussions. The ICE May Brent crude oil futures rose $10.61-16.10/b per day...

Asia recycled LDPE: Stabl...

Asia recycled LDPE: Stable amid thin trade ■ Bullish outlook on high virgin material prices ■ Buying interest returns, trade remains mutedThe Asian recycled low-density polyethylene prices remained stable in March 2, despite thin trade. However, the outlook was positive as the trend for recycled material prices mirrors that for virgin material. It is usually around 20% and $100-$300/mt less...

Asia LDPE: Mixed discussi...

Asia LDPE: Mixed discussions on weak demand, higher costs ■ Crude rises $10.61-15.25/b on day to $111.04-130.50/b ■ High inventories in ChinaIn spite of high inventories, Asian low-density plasticethylene prices dropped in China during the week ending March 2. Due to market uncertainty, some traders prefer to buy locally on a hand-to mouth basis. Demand was weak. The ICE May Brent c...

Asian PVC: Stable to $10-...

Asian PVC: Stable to $10-15/mt higher amid bullish crude ■ Some demand heard from Europe/Africa ■ China’s December exports hit seven-month high On March 2, Asian polyvinylchloride was stable at $10-15/mt more week-on-week. March. 2 The CFR China PVC price increased $10-15/mt week-on-week to be valued at $1,310-1,350/mt. During the same period, the CFR India PVC cost was stable at $...

Asian Butadiene: Up $30-3...

Asian Butadiene: Up $30-35/mt on high upstream cost, tighter supplies ■ Asia crackers mull run cuts■ SE Asia cargoes seen availableAsian butadiene was valued at $30-35/mt more day-on-day, $1,140-1,175/mt on March. 4. This was due to tighter supplies and high upstream markets. The May ICE Brent futures dropped $7.36-8.50/barrel on the day that $111.14-130.65/b was assessed. The...

Asian Propylene: Stays st...

Asian Propylene: Stays stable as market takes a breather ■ South Korea’s YNCC restarts No. 1 naphtha cracker■Taiwan’s CPC to delay Linyuan No. 4 steam cracker restart to March 11As buyers pulled away from the spot market due to a lower crude oil price, the CFR China propylene marker was stable.  the CFR China marker reached a seven-year high of $1,220-1,260/mt March 3. This was due to ti...

Asia MEG: Down on day due...

Asia MEG: Down on day due to lower crude ■ Downstream bearish on negative economic news ■ Crude dips $7.36-8.50/b on day to $111.14-130.320/bDue to lower production costs, Asian nonethylene glycol prices fell March 4. The ICE Brent crude oil futures dropped $7.36-8.50/b per day to $111.14-130.320/b at 4:30 PM Singapore time (0830 GMT). Even though prices fell on the week, some sou...

Asian Ethylene: Discussio...

Asian Ethylene: Discussion levels rise on week amid naphtha increases ■ Some crackers consider reducing run rates for April on unprofitable ethylene production ■ YNCC restarts No. 1 cracker, current run rate at 60% The week saw a rise in Asian ethylene discussion levels due to a spike in feedstock naphtha price above the 1,000/mt C+F Japan cargo mark. Sellers raised their offers due to p...

Asian MTBE: Retreats $47-...

Asian MTBE: Retreats $47-52/mt on day, spikes $154-172/mt on week ■ Escalating geopolitical tensions raise overall commodity prices ■ Crude falls 6.21% amid prospect of Iranian suppliesAsian MTBE fell $45-55/mt on the day to $1,174-1,208/mt FOB Singapore March 4, a decline from its previous high of more than nine years ago. The rally in the energy sector amid the escalating Russia/Ukrai...

Asia Methanol: Prices up...

Asia Methanol: Prices up on week as crude crosses $110-127/b■ Thin liquidity in China■ Discussions move to May for SE AsiaBullish crude oil prices and volatility resulting from Russia's invasion in Ukraine pushed Asian methanol prices higher for the week. CFR China methanol was down $7-8/mt on the day, but up $25-30/mt weekly on the week at $390-405/mt February 4. Front-month ICE Br...

Asian Caprolactam Weekly:...

Asian Caprolactam Weekly: Feedstock costs move beyond profitable margin ■ Participants shun talks on caprolactam materials ■ FOB Korea benzene marker hits seven-year highAs a result of the sudden rise in feedstock prices, talks in Asia's caprolactam market declined. Both sellers and buyers agreed that rising feedstock prices had hampered the profit margins along the caprolactam chain. T...

Asian styrene: Prices dow...

Asian styrene: Prices down $31-35/mt amid weak upstream, sluggish demand ■ Oil price down $7.36-8.50/b■ SM margin remains at weak levelAsian spot styrene monomer price assessments were down $30-35/mt to $1,350-1,385/mt CFR China marker. The China domestic price was down Yuan105-155/mt to Yuan 9,790-9,890mtexp-tank. This equates to $1,340-1,390/mt based on import parity March 4. Spot SM p...

Asian orthoxylene: Prices...

Asian orthoxylene: Prices soar $90-$115/mt in line with adjacent markets ■ Tight supply supports price ■ Shrinking margins dampen buying interestAsian Orth xylene continued the bullish trend of energy complex and adjacent market, rising $90-95/mt to reach $1,200-1,235/mt CFR China March 4. The CFR Taiwan/China paraxylene indicator jumped $115-125/mt on week at $1220-1255/mt. Meanwhile, t...

Asian Iso-MX: Prices end...

Asian Iso-MX: Prices end three-day rally ■ Iso-MX falls by $41-45/mt■ Any April Cargo for FOB Korea trade heard at $1,130-1,175/mtIsomer MX was down $41-45/mt today at $1.134-2.250/mt FOB Korea and $1.156-2.525/mtCfR Taiwan on March 4. Sources said that despite the volatility in crude oil, Iso MX supply and demand remain tight for April cargoes market. Accordingly. A bid for any Ap...

Asian paraxylene: Rangebo...

Asian paraxylene: Rangebound during the week amid crude volatility■Backwardation continues to June■ PX-naphtha spread rebounds amid feedstock routs After hitting a 40-month peak on March 3, the Asian paraxylene market saw an uptrend that ended March 4. This was in keeping with the upstream movement. Asian paraxylene was down $48-54/mt but up $108-120/mt over the week at $1.221-2.275/mt C...

Asian Solvent MX: Continu...

Asian Solvent MX: Continues to rise amid weekly increases in energy prices■ Chinese buyers in wait-and-see mode■ Producers lower run ratesThe week ending March 4th saw prices for solvent-MX rise by a significant amount due to stronger crude oil and firm aromatics complexes. This is compared to the previous week. China's supply is said to be very tight due to recent plant outages as well...

Asian Toluene: Falls $18-...

Asian Toluene: Falls $18-21/mt on weaker oil prices ■ East China port inventory down 16.67% ■ Oil prices fall $7.36-8.50/b Due to lower upstream oil prices, Asian toluene fell $20-25/mt and was valued at $1050-1095/mt FOB Korea, and $18-20/mt for the same period at $1.087-2.105/mt CFR China. Upstream, the ICE Brent front line May contract price dropped $7.36-8.50/b at 830 GMT...

Asian Benzene: Prices see...

Asian Benzene: Prices see sharp retreat after crude fall■ Kumho Petrochemical plans turnaround in early May ■ April/May structure inches downThe Asian benzene market was bearish during the last session of trading, as traders became more cautious after the sharp decline in oil prices. Even though oil prices remained high, May ICE Brent crude futures dropped $7-8/barrel on the day. They s...

April-May CP propane swap...

- April-May CP propane swap backwardation narrows to $29-34/mt- Iran February-loading LPG exports at around 382,000 mt The April Saudi CP propane exchange was valued at $955-970/mt, down $4-5/mt over March 9. April-May CP propane Swap backwardation decreased by $1-2/mt to $28-34/mt March 9, while May-June CP prop propane swap backwardation increased by $2-3/mt to $42-46/mt. The Ap...

LPG dips further, shruggi...

- LPG dips further, shrugging off Brent rise- Taiwan's Formosa seeks LPG for H2 April delivery LPG prices in Asia edged lower on March 9 despite the $21.20-26.10/mt rise in May ICE Brent crude oil futures. Buyers kept bids low while the discount on LPG to naphtha continued its steepening, attracting more buyers to North Asian petrochemical producers. CFR North Asia butane was $17-22/mt...

Spot activity muted | Sp...

- Spot activity muted- Spot prices remain stable The US spot market participation in methanol declined on March 9, as few market indicators were reported by participants. The day saw three high-priced offers, with no trades or bids. This resulted in stable spot market prices on March 9. March spot methanol was flat at 138c/gal FOB USG. It also came under a March offer of 142c/...

Spot remains stable | Li...

- Spot remains stable- Little market activity The US ethylene spot market was stable despite limited market participation. Very few offers and bids were reported by market participants on the day. March Mont Belvieu ethylene remained steady at 36.5 cents/lb FD Mont Belvieu. This was based upon a March ethylene offer/bid heard at 35.5 to 36.75 cents/lb MTB-pipe. April Mont Bel...

CIF NWE naphtha flat pric...

- CIF NWE naphtha flat prices fall- Non-Russian origin barrels tight CIF NWE naphtha prices were 8% lower than expected due to a weakening in the crude oil complex on March 9. Market participants remain cautious about purchasing Russian products because of sanctions. Buyers have turned to the US Gulf Coast to source non-Russian product because they are resentful of Russian barrels....

China's Sinopec raises da...

- China's Sinopec raises daily price by Yuan 300-350/mt- Taiwan's CPC runs No. 4 cracker at 70% The high feedstock markets fuelled strong Asian butadiene market sentiment pushed the Asian butadiene market sentiment to continue its upward trend on March 9. May ICE Brent futures increased $4.72-5.75/b per day to $130.41-145.25/b on February 9. This trend was tracked by the CFR Japan...

Gasoline 92 RON surges 6....

- Gasoline 92 RON surges 6.28% on day to fresh all-time high- H2 Mar/H1 Apr interlaycan spread flips into backwardation Asian MTBE rose $30-35/mt on the day to $1,345-1,370/mt FOB Singapore Mar 9, with aggressive selling interest in April-loading cargoes preventing the FOB Singapore MTBE marker reaching a new high. On March 7, the marker reached an all-time record high of $1,345-1...

East China propylene down...

- East China propylene down Yuan 75-90/mt- Taiwan's CPC runs Linyuan No. 4 steam cracker at 70% after restart March 9 After a sharp rise in feedstock prices, Asia's propylene price remained stable in March 9. The market did not see a rise in crude oil prices. May ICE Brent crude crude futures were at $130.41-145.20/b at 4:45 pm Singapore time (0830 GMT) and up $4.72-5.25/b over th...

Crude spikes $4.72/b on d...

- Crude spikes $4.72/b on day to $130.41/b- Outlook seen mixed due to high production, low demand Asian monoethylene glycol prices rose on March 9 due to soaring crude oil markets. ICE Brent crude futures rose $4.72-5.25/b on the day to $130.41-145.20/b at 4:30 PM Singapore time (0830 GMT). Sources said that supply was normal while demand wasn't as high as expected. A produce...

May ICE Brent up 3.75% in...

- May ICE Brent up 3.75% in Asian afternoon trade- Buying interest picks up in India, Southeast Asia, S Korea Higher crude oil prices on March 9th pushed Asian methanol prices higher. CFR China methanol was valued at $5-6/mt more day-on-day at $420-440/mt. CFR Southeast Asia and India were up $18-24/mt respectively over the same period. The May ICE Brent futures were valued at...

Buy-sell indications rise...

- Buy-sell indications rise on day amid upstream price hikes- Sinopec cuts cracker operating rates on weak margins The Asian Ethylene market continued to feel the pressure from rising prices in the upstream naphtha marketplaces. Selling and buying indications were higher every day due to increasing feedstock costs. The buyers stated that they could not pass the higher costs on to...

Jumps on tight supplies,...

- Jumps on tight supplies, reduced operating rates- Thin trades on volatile crude moves Due to continued rises in crude oil and energy prices, Asian toluene prices soared on March 9. Due to reduced rates from Southeast Asian, Northeast Asian suppliers, the FOB Korea marker rose $42-45/mt while CFR China was up $45-50/mt. This caused tight supply across Asia. According to a sou...

Talks on run rate cuts lo...

- Talks on run rate cuts loom- Sinopec raises listed price March 9 saw trade momentum remain weak as the Asian benzene markets continued to see strengths in the upstream sector and weaknesses in the downstream. No April offers were made and bids for May-loading FOB Korean cargoes were received at up to $1,275-1,295/mt. Even floating offers were not accepted, and May cargoes w...

April/May backwardation w...

- April/May backwardation widens- Bearish sentiment downstream amid negative margins Asian paraxylene continued to show bullish trends and rose $64.67-70.10/mt to $1,380-1,400/mt CFR Taiwan/China on March 9 and $1,360-1,385/mt FBO Korea on March 9. This was in line with the strength of upstream feedstock naphtha. Sources said that April-arrival cargoes were in high demand due to ti...

Selling tender issued on...

- Selling tender issued on FOB China basis- Less demand from Europe due to higher freight cost Asian spot styrene monomer price were up $5-6/mt to $1,451-1,490/mt CFR China marker. The China domestic price was up Yuan 105-155/mt to Yuan 10,465-10,765/mtex-tank. This equates to $1,435-1,455/mt based on import-parity on March 9. Spot numbers in China's domestic market were up during th...

FOB Korea surges by $80-8...

- FOB Korea surges by $80-85/mt- Brent crude futures supported above $130-145/b mark Isomer-MX was valued at $80-85/mt at $1.286-2.250/mt FOB Korea and $1.308-2.525/mt CFI Taiwan on March 9. Early afternoon sentiment was bullish, following gains in both upstream and downstream markets. FOB Korea cargoes prices were also bid up. Market on Close evaluation process revealed that any...

The price of Butyl cellos...

In ex-kandla Butyl cellosolve rate lessen 4.00 on Rs.184/kg current price is Rs.180/kg.

Butyl acrylate monomer in...

Butyl acrylate monomer rate grew 1.00 by Rs.170/kg current price is Rs.171/kg in ex-kandla.

Butyl Acetate price hiked...

Butyl acetate rate raised 1.00 on Rs.127/kg in ex-kandla current price is Rs.128/kg. 

In India, ABS resin has i...

In ex-Mumbai market ABS resin rate grew 4.00 on Rs.166/kg current price is Rs.170/kg.

The price of Adipic acid...

Adipic acid rate increased 5.00 on Rs.155/kg (China) in ex-Bhiwandi current price is Rs.160/kg.

Current price of Adipic a...

Adipic acid rate hiked 9.00 on Rs.165/kg (BASF) current price is Rs.174/kg in ex-Bhiwandi.

Acrylic acid rate droped...

In ex-Bhiwandi Acrylic acid rate reduced 8.00 on Rs.208/kg current rate is Rs.200/kg.

In India, Acetone rate up...

Acetone rate increased 0.50 on Rs.69/kg current price is Rs.69.5/kg in ex-Mumbai

Acetone rate is raised ,...

Acetone rate raised 1.00 on Rs.69/kg in ex-kandla current price is Rs.70/kg.

Acetonitrile -imported in...

Acetonitrile-imported intact rate increased 5.00 on Rs.280/kg current price is 285/kg in Bhiwandi

0.50 rs low in Acetic aci...

 Acetic acid rate decreased 0.50 by Rs.58/kg in ex-kandla current price is 57.5/kg

Acetic acid rate down in...

Acetic acid rate lessen 0.50 on Rs.58/kg current price is Rs.57.5/kg in ex-Mumbai

Asian MMA/PMMA: CFR China...

Asian MMA/PMMA: CFR China MMA falls $45/mt on week ■ Logistics hampers FOB China market ■ New MMA capacity expected in China in 2022 Asian methyl methacrylate prices (MMA) were lower $45-50/mt at CFR China than a week ago at $1735-1775/mt April 27, following sharp falls in China’s domestic market prices. Domestic prices fell by Yuan 700-750/mt to Yuan 12,716-12,850/mt or $1,610-1,700/m...

Asian Recycled PET: Stabl...

Asian Recycled PET: Stable prices on mixed market conditions ■ Supply remains tight amid difficulty in sourcing feedstock ■ Rising freight and falling virgin PET prices weigh on buying levelsDue to mixed market conditions, low trade activity and mixed market conditions, Asian recycled PET prices remained stable in April 27th. Market sources stated that producers are still concerned abou...

Asian PET: Prices fall on...

Asian PET: Prices fall on weak finished goods demand ■ Export demand for bottle grade PET chips remain stable ■ Domestic demand weakens further amid ongoing lockdowns in China The weakening demand of finished goods caused prices to fall in the Asian PET market in the week ending 27. The ongoing Shanghai lockdown has had a negative impact on finished goods demand. Market participants cla...

Asian ABS: CFR China plun...

Asian ABS: CFR China plunges $65-70/mt on lower offers, weak Yuan ■ Yuan weakens 2.5% on the week vs US dollar ■ Cargoes re-routed to Southeast Asia from ChinaAsian acrylonitrile-butadiene-styrene (ABS) spot importing CFR China price was assessed lower $65-70/mt on the week at $1,845-1,880/mt CFR China and down $65/mt for the same period at $1,895-1,930/mt CFR Southeast Asia on April 27.&nbs...

Asian Polystyrene: Prices...

Asian Polystyrene: Prices drop $10-$50/mt on weak upstream, sluggish demand ■ GPPS cargo re-routed to Southeast Asia ■ Demand remains sluggish on COVID-19 controlsAsian general-purpose polystyrene (or GPPS) spot price was down $20-25/mt over the week at $1480-1515/mt China. It was also lower by $50-55/ mt during the same period at $1600-1637/mt Southeast Asia on April 27, at $1,600-1,635/mt...

Asian PP: Falls as demand...

Asian PP: Falls as demand weakens across region ■ China demand impacted by pandemic-related lockdown ■ Southeast Asia takes a step back ahead of holidayDue to lower demand in Asia, polypropylene prices dropped in the week ending April 27, Chinese domestic prices dropped by yuan 250-285/mt during the week. CFR Fareast Asia price fell $20/mt during the reporting week. Prices in Sout...

Asian recycled HDPE: Stab...

Asian recycled HDPE: Stable amid thin trading ■ Food-grade recycled PE sought after ■ Mechanically recycled resin outlook bullishThe Asian high-density recycled polyethylene natural film pellet price was stable in the morning of April 27, despite thin trading. Customers in the fast-moving consumer goods industry were keen to use food grade recycled PE, such as the recycled polyethylene...

Asia HDPE: Stable to weak...

Asia HDPE: Stable to weak on lackluster demand ■ Weak margins due to high crude prices on year ■ Weak demand in China due to lockdownsIn Southeast Asia, high-density Polyethylene prices dropped in the week ending April 27, due to weak Ramadan demand. Due to low domestic demand and high inventories, traders in China exported both domestic and imported material to Southeast Asia and Sout...

Asia LLDPE: Southeast Asi...

Asia LLDPE: Southeast Asia market falls on weak demand ■ Container logistics issues weigh ■ Shipping to east China remains logistically challenged Due to low Ramadan demand, Asian linear low density polyethylene prices were lower in Southeast Asia during the week to April 27, due to lower demand. LLDPE prices in South Asia were stable during the week, while metallocene LLDPE C6 prices w...

Asia Recycled LDPE: Stabl...

Asia Recycled LDPE: Stable amid thin trade ■ Lockdowns in China dampen demand ■ Recycled resin price trend does not mirror virgin prices The Asian recycled low density polyethylene prices remained stable in April 27 despite weak demand, especially in China, where there was a pandemic lockdown affecting many areas. The gap in prices between virgin and recycled has widened. Prime res...

Asia LDPE: Stable to weak...

Asia LDPE: Stable to weak amid sluggish demand ■ Downstream demand week in Southeast Asia ■ China PE imports up in March Prices of low-density Asian polyethylene were steady to weak. According to converters, end-product sales in Southeast Asia and Northeast Asia were slow. Due to the lockdowns in China, there were fewer drivers available to transport goods. In Southeast Asia, busine...

Asian PVC: Falls $30-35/m...

Asian PVC: Falls $30-35/mt amid lower offers from China ■ China market bearish amid fresh COVID-19 restrictions ■ Asia PVC-VCM spread remains below breakeven level Asian polyvinylchloride prices dropped $30-35/mt week-on-week to a low of $1310-1350/mt CFR China (two month low) and $1530-1575/mt CFR India (three month low) April 27, as Chinese suppliers accelerated exports amid bearish domest...

Asian Caprolactam: Demand...

Asian Caprolactam: Demand deficit in Asia prompts plant turnarounds ■ China sells low-priced nylon in Asia ■ China domestic price heard around Yuan 13,500-13,610/mtAccording to market sources, demand for Asian caprolactam was low in the week ending April 28, both in Southeast Asia and in China and Taiwan. One source claimed that there have been unscheduled turnarounds at China's caprola...

Asia LPG falls, baulking...

- Asia LPG falls, baulking Brent rise- Discount of June FEI propane to MOPJ naphtha narrows Asia LPG prices fell on May 5, despite the $13.68-18.25/mt gain recorded in July ICE Brent crude oil futures. The previous Asian close was closed at 1:38 PM. Fresh demand from Indonesia and the petrochemical industry was matched by a healthy supply of first-half June CFR North Asia propane at $82...

Market structure remains...

- Market structure remains unchanged- May methanol drops 1 cent on day Due to a further fall in spot prices, activity in the US spot market for methanol remained low on May 5. May spot methanol prices dropped 1 cent to 102c/gal FOB USAG. This was based upon a May offer of 103c/gal FOB ITC. June spot prices fell 1 cent to 103c/gal FOB ITC. This maintained the 1-cent contango m...

Demand set to increase af...

- Demand set to increase after styrene derivative restart- Market anticipates styrene unit restart next week US May DDP-benzene rose by 3.5 cents/gal to 407c/gal on May 5, thanks to support from crude futures, bullish sentiment and support for crude oil. As a second derivative of styrene is being restarted, the sentiment for feedstock benzene has been bullish on the forward curve....

Multiple trades heard on...

- Multiple trades heard on day- EPC and Choctaw prices increase The US ethylene spot market activity increased as more market participants reported trades, bids and offers on the day. EPC ethylene rose 2.75 Cents on May's day to 33.25 cents/lbFd Mont Belvieu. This was based upon a May bid/offer at 31.5-33.5c/lbMtB pipe. EPC ethylene rose 1.75 cents to 33.25c/lb FD Mont Belvie...

Styrene rises $55/mt for...

- Styrene rises $55/mt for five-to-30 days forward laycan- Premium to benzene increases $50.75/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50-55/mt as a producer purchased several cargoes for loading in February. According...

CFR China deal reported f...

- CFR China deal reported for May- Japan demand to emerge amid lower plant runs As holiday trading was quiet, Asian butadiene was not assessed differently from day May 5. While China's market participants returned to work on May 5, South Korean and Japanese players were absent due to public holidays. According to reports, a Chinese end-user purchased a 2,000mt cargo at $1,200-...

Crude, gasoline rise afte...

- Crude, gasoline rise after EU proposes ban on Russian oil- South Korea's March MTBE exports to Singapore triple on month Asian MTBE rose $20.50-25.75/mt on day to $1-2/mt FOB Singapore May 5. This was driven by a firmer energy complex. The front-month ICE Brent crude oil futures rose 1.55% daily to $110-130/b by 4:30pm Singapore time (0830 GMT). This was supported by the EU pro...

Chinese buyers remain cau...

- Chinese buyers remain cautious on imports- Taiwan's CPC to restart No. 4 naphtha-fed steam cracker May 9 Sources said that the propylene market was stable even though Chinese buyers were cautious about buying imports. July ICE Brent crude futures rose $5-6/b to $110.41-125.50/b by 0830 GMT Asian close May 5. However, this did not help the market's recovery. A Chinese buyer...

September ZCE contract ri...

- September ZCE contract rises Yuan 93/mt- India ex-tank prices edge lower to Rupees 30.50-30.75/kg Chinese methanol markets opened on May 5, with a rebound as crude oil futures rose on the EU's proposal of banning Russian oil imports. The session ended at $8-9/mt, or $345-365/mt CFR China. Yuan 90-110/mt was the highest traded September methanol futures contract, closing at Yuan...

Sentiment weak due to ong...

- Sentiment weak due to ongoing lockdowns in China- Weak downstream demand reduces buying incentive for spot ethylene The discussions in the Asian market for ethylene continued to be limited on May 5, because many market participants were away. The Chinese domestic market prices were stable with sources from China stating that sentiment was low due to China's ongoing lockdowns.&nbs...

Spot trade thin amid limi...

- Spot trade thin amid limited cargoes- Lack of vessels hampering trades Although prices for toluene in Asia were strong May 5, despite a slight softening, there was still a lot of supply from China to South Korea, and South Asia wasn't seeing any spot cargoes. Trading sources reported that several June loading cargoes were being heard ex-China. Sources said that a 5,000-mt ca...

Sinopec raises listed ben...

- Sinopec raises listed benzene price- CPC seals June purchase tender The Asian benzene marker saw activity pick up May 5, following China's return to work on May 5. However, sentiment was still largely muted. FOB Korea's benzene price rose $18-24/mt on the same day to $1,170-1,200/mt. In the afternoon, a bid was made for a June-loading cargo at $1,173-1,215/mt FOB Korea, but...

Naphtha dips $3.25/mt on...

- Naphtha dips $3.25/mt on long supply, tepid demand- PTA-PX spread in China improves Asian paraxylene rose $18-23/mt to $1,200-1,235/mt CFR Taiwan/China May 5 and $1,180-1,205/mt FBO Korea May 5, despite the weakness in feedstock naphtha. The paraxylene/naphtha spread grew wider due to long supply, low demand, and volatile upstream markets. Naphtha C+F Japan fell $3-5/mt to...

Domestic China styrene le...

- Domestic China styrene leads the uptrend- PS demand stays slow After returning from vacation, trade momentum was seen in the Asian market for styrene. The uptrend in domestic styrene and the energy complex helped Asian SM to rise by $22-28/mt. It was valued at $1,330-1,360/mt CFR China on May 5 and $1,360-1,390/mt FBO Korea on May 5. The prompt marker in the east China mark...

Spread to PX narrows | C...

- Spread to PX narrows- CFR Taiwan June offer emerges Asian isomer-grade mixed-xylene prices rose $26-30/mt to $1,115-1,150/mt FOB Korea. This was up $20-25/mt @ $1,125-1,155/mt CFR Taiwan, and up $4-5/mt AT $1,050-1,085/mt China May 5. The rise in crude oil and increased trading activity for June was aided by firmer crude oils. A rare CFR Taiwan offer was also made for June at $1,...

Styrene outages impact de...

- Styrene outages impact demand- Market expects supplies to tighten for June May 5th saw benzene prices rise following gains in the upstream energy markets, but benzene trading activity was still low. On the day, the five- to 30-day forward delivery laycanforbenzene was valued at $1,245-1,280/mt CIF AR. There was no fresh trading, but there were bids and offers for May & Ju...

ICE Brent futures rise $2...

- ICE Brent futures rise $2-3/b on day- Blending margins see new highs During the Market on Close assessment process, buying activity increased for the European MTBE markets May 5. MTBE FOB ARA was valued at $1,380-1,410/mt. This was an increase of $48-52/mt over the previous day. The MOC was normalized for crude oil prices movements between the trade and market close. Finco bought...

Asian MMA/PMMA: Discussio...

Asian MMA/PMMA: Discussions thin amid holidays ■ Tepid demand in China due to lockdowns ■ South Korea imports MMA from China for two consecutive monthsThe Asian methyl methacrylate CFR China marker remained unchanged at $1,730-1,760/mt May 4 despite little discussion due to the Labour Day holiday in China. On May 4, the Chinese domestic MMA market closed. The Asian polymethyl meth...

Asian Recycled PET: [Dyna...

Asian Recycled PET: [Dynamic] ■ European demand remains high ■ Long-term outlook bullishDue to low trading activity in many markets, Asian recycled polyethylene Terephthalate prices remained stable on May 4. While Hari Raya Puasa was celebrated in Indonesia and Malaysia, King Maha Vajiralongkorn's coronation was being commemorated in Thailand. According to sources, prices will like...

Asian PET: Activity limit...

Asian PET: Activity limited amid ongoing holidays ■ Ongoing lockdowns in China remain cause for concern ■ Recovery remains dependent on finished goods demandDue to the Eid and Labour Day holidays in many parts of Asia, activity in Asian PET markets was low in the week ended May 4. Discussions were limited due to key Chinese participants being on holiday. Some traders expressed conc...

Asian PTA: Prices rise am...

Asian PTA: Prices rise amid stronger upstream market ■ CFR Taiwan/China paraxylene price benchmark jump $10.84/ mt on week ■ Market participants remain hesitant on outlook for week starting May 6The rising prices of paraxylene, crude oil and purified terephthalic Acid CFR China pushed the price up $8-10/mt per week. CFR Taiwan/China paraxylene prices rose $10-15/ mt on week. This is to...

Asian ABS: Rises $5/mt wi...

Asian ABS: Rises $5/mt with firmer upstream ■ China, key markets closed ■ SM inches up on weekAsian acrylonitrile-butadiene-styrene was assessed up $5-6/mt week on week at $1,850-1,880/mt CFR China and at $1,900-1,935/mt CFR Southeast Asia on May 4 on the back of firmer upstream prices. July ICE Brent crude oil futures rose $3-4/mt to $108-120/mt by 0830 GMT in Asian trading May 4, an in...

Asian PS: Inches up amid...

Asian PS: Inches up amid higher styrene ■ Key markets closed ■ Crude oil rises on week Asian polystyrene prices were slightly higher this week due to a rise in feedstock styrene monomer prices and volatile crude oil prices. Styrene monomer increased $2-3/mt week-on-week to $1,310-1,350/mt CFR China in May 4. The July ICE Brent crude oil futures increased to $108-120/mt, an increase...

Asian PP: Stable to lower...

Asian PP: Stable to lower amid holidays ■ Thin trading due to holidays in China, Southeast Asia ■ Vietnam import prices cappedThe Asian polypropylene markets were stable to lower during the week to May 4. East China prompt domestic cargoes remained steady at Yuan 8,650/mt. The Labour Day holiday slowed Chinese PP market activity. However, logistical issues caused by COVID-19 lockdowns a...

Asian recycled HDPE: Stab...

Asian recycled HDPE: Stable amid thin trading following Eid ■ GRS certification, post-consumer grade recycled resin preferred ■ Buying price divide between premium and low value applicationsThe Asian recycled high density polyethylene natural film pellet price was stable on May 4, the day after Eid. Sources said that only buyers from the same market were willing to pay more for high-qua...

Asian HDPE: Down on weak...

Asian HDPE: Down on weak demand ■ Trade volumes may reduce on higher interest rates ■ Outlook slightly bullish for H2 2022Due to weak holiday demand, Asian high-density plastic-ethylene prices dropped in the week ending May 4. Due to limited offers and bids during the Market on Close process, HDPE prices in South Asia remained stable over the week. A source stated that no new activ...

Asia LLDPE: Falls on weak...

Asia LLDPE: Falls on weak demand ■ Outlook mixed on rising feedstock costs, start-ups ■ Regional holidays dull tradingIn Southeast Asia, Asian linear low density polyethylene prices were lower than expected due to weak demand during Eid and Labour Day. LLDPE prices in the South Asian region remained stable over the week, while metallocene LLDPE C6 prices were lower due to slow markets...

Asia recycled LDPE: Price...

Asia recycled LDPE: Prices stable amid thin trade ■ Eid holidays lull trade ■ Southeast Asia-US arbitrage remains difficult on logistical issues Despite holidays in the region, Asian recycled low density polyethylene prices remained stable on May 4. For non-mandated applications, the market was dull. There were large shortages of the required recycled applications. Low demand meant...

Asia LDPE: Falls on weak...

Asia LDPE: Falls on weak demand ■ Holidays impact trading ■ Converters awaiting offers next week Despite public holidays, Asian low-density plastic-ethylene prices were deemed stable-to-weak during the week ending May 4. According to converters, end-product sales in Northeast Asia and Southeast Asia were slow. Due to low demand and high crude costs, PE prices have been fluctuating...

Asian PVC: Stable amid qu...

Asian PVC: Stable amid quiet holiday trading ■ June offers likely to be lower ■ Taiwan to ban PVC food packaging The Asian polyvinyl chloride (ASIA) market was stable during the week of May 4. The CFR China price was set at $1,310-1,335/mt despite limited discussions due to Asia's public holidays. On May 4, the CFR India PVC price was steady at $1,530-1,555/mt. Many Asian countries...

Asian Butadiene: Prices d...

Asian Butadiene: Prices drop $50-$75/mt amid bearish sentiment ■ CFR China hits 2-month low ■ CFR Northeast Asia-FOB Korea spread at minus $30/mtAsian butadiene fell $50-75/mt on May 6th, with CFR China falling to a 2-month low of $1300-1325/mt. Spot price discussions were restricted throughout the week of May 1 because key market participants in Asia were not trading due to public holi...

Asian Propylene: CFR Chin...

Asian Propylene: CFR China marker stable on week amid muted buying ■ Shandong propylene up Yuan 50/mt ■ China’s Nanjing Chengzhi to shut MTO plant for turnaround May 15: sourceAs the Japanese and South Korean market participants were on holidays, the propylene market in Asia was steady on May 6. July ICE Brent crude futures rose $1.31/b, to $111.72/b by 0830 GMT Asian close May 6. Howev...

Asia MEG: Falls on weak d...

Asia MEG: Falls on weak demand ■ ICE crude futures rise $1.31/b ■ Downstream textile plants cut operations to ease inventory pressureLow demand in Asia caused the Asian mono-ethylene glycol price to fall despite higher crude oil prices on May 6. Sources said that the extended COVID-19 pandemic lockdown in Shanghai (China's largest city) had caused Asian mono-ethylene glycol prices to f...

Asian Ethylene: Falls $20...

Asian Ethylene: Falls $20/mt in thin trade ■ Shrinking derivative margins weigh on demand ■ Naphtha-ethylene spread turns negativeThe week ended May 6, with holiday activity in Asia. Sentiment was also weak due to the pandemic lockdown at Shanghai, which weighed on Chinese buying interest. Eroding downstream margins, which have reduced operating rates, continue to be cited by buyers as...

Asian MTBE: Remains flat...

Asian MTBE: Remains flat amid mixed direction in energy complex ■ 92 RON inches down 0.01%; crude extends gains ■ Lower MTBE plant run rates amid high feedstock costsAsian MTBE remained flat at $1,246-1,286/mt FOB Singapore, May 6. This was despite mixed direction in energy markets, with 92 RON slowing down and crude extending its gains. The day's 92 RON fell 0.01% to $138.12/b. Th...

Asian Methanol: Prices sl...

Asian Methanol: Prices slip amid muted holiday trading ■ Chinese sellers on sidelines, await clearer price direction ■ Softer domestic methanol demand in S Korea in May, JuneThe week ended May 6 saw little trading activity on the Asian methanol markets. Many market participants were away for the Hari Raya Puasa and Labour Day holidays. China's three-day-long Labour Day holiday ended on...

Asian Caprolactam: Losses...

Asian Caprolactam: Losses extended on weak demand, high feedstock costs ■ Demand turning south for nylon ■ Producers sandwiched by feed stock costsProducers and downstream nylon chains were involved in much of the struggle for Asian caprolactam markets. Prices continued to fall. There was little to no discussion as some producers indicated that they would not produce for the month...

Asian Styrene: Muted disc...

Asian Styrene: Muted discussions heard in the week ■ Margins narrow on softer dollar/yuan exchange rate ■ CFR India discussions around $100-$130/mt premiumDue to a stronger China market and a weaker currency, the Asian styrene markets were pulled in both directions on May 6. Despite the tighter trading range on the East China domestic market, prices fell due to a weaker dollar/yuan rat...

Asian Orth xylene: Prices...

Asian Orth xylene: Prices steady to higher as costs increase ■ Isomer-MX surges $48/mt on week ■ India’s PA expansion to affect OX marketAsian Orth xylene was valued at $5-6/mt, up $5-6/mt from the previous week, at $1,235-,1255/mt FOB Korea, and $1,205-1,235/mt CFR Southeast Asia May 6, due to rising isomer-grade mixed xylene prices. Producers were under pressure as Isomer MX rose $48-...

Asian isomer-MX: PX-napht...

Asian isomer-MX: PX-naphtha spread shrinks as MX prices surge ■ FOB Korea surges $48/mt on week ■ Sinopec to start Hainan PX line in May Asian isomer-grade mixed xylene rose $48-52/mt week to $11,135-11,155/mt FOB Korea, and $48-52/mt $1,145-1,165/mt CFR Taiwan May 6, amid tight supply. This was in spite of the $4-5/mt increase in the CFR China price at $1,050-1,060/mt. According to a...

Asian Paraxylene: Falls $...

Asian Paraxylene: Falls $2.5/mt on day amid muted trading ■ PX-naphtha spread reached 2-year high on May 5 ■ Sinopec Hainan plans to restart the small unit late-MayDue to low trading activity, Asian para xylene was down $2-3/mt at $1,196-1,215/mt CFR Taiwan/China and $1,175-1,195/mt FBO Korea May 6. The marker closed at $1,195-1,220/mt CFR Taiwan/China, and $1,175-1,190/mt FOB Korea May...

Asian Solvent MX: Jumps o...

Asian Solvent MX: Jumps on week on upstream prices ■ Jumps amid strong buying, tight availability ■ Strong fundamentals amid thin spot discussionsAsia solvent mixed xylene prices rose sharply week-on-week due to active buying and short supply. FOB Korea buying signals were seen starting at $1,050-1,080/mt on May 6, and rising to $1,125-1,145/mt during the trading day, but to no avail.&n...

Asian toluene: Prices ris...

Asian toluene: Prices rise on gains upstream ■ Supply dwindles, demand firm from blenders, TDP producers ■ Southeast Asia playing catch-up with the week’s gains Asian toluene prices increased in line with crude oil and upstream markets on May 6. Sources said that a 2,000-mt cargo from Yeosu was traded at an average month June FOB Korea plus $10-12/mt June loading. A trader stated t...

Asian Benzene: Benzene-na...

Asian Benzene: Benzene-naphtha physical spread still strong ■ ICE Brent crude futures firm ■ June paper hold steady Trade momentum in the Asian benzene markets increased on May 6 due to a stronger crude oil market, which led participants to reconsider their positions. Open deal trade for June loading FOB South Korea cargo was made in the late afternoon. It was sealed at $1,180-1,200/mt....

Logistics logjams continu...

- Logistics logjams continue to stymie exports- Market activity thin as traders try to reduce outflow backlogs Spot export polyvinylchloride prices in the US were stable week-on-week on March 9. Prices were based on stable pricing indications for deals made for March volumes. They were set at $1,575-1,585/mt FAS Houston. The assessed price is a producer-to-trader price and does not...

PET producers are concern...

- PET producers are concerned about tightening raw material supply- Transactions slow as Asian prices rise US import polyethylene Terephthalate prices were stable last week, according to unchanged pricing indications, amid concern over raw material costs amid Russia’s invasion of Ukraine. This assessment was based upon a previous market talk that pricing would be in the high 90s. A...

Concern over upstream and...

- Concern over upstream and energy costs- Supply remains healthier than in 2021 The European acrylonitrile-butadiene-styrene market was thrown into turmoil in the week of March 9 as market participants looked to understand the full extent of rising upstream pricing, energy costs, and the wider ramifications of the Russian invasion of Ukraine. The downtrend in pricing seen across Februar...

Higher cost pressures for...

- Higher cost pressures for polypropylene- Demand remains poor Asian polypropylene prices rose on March 9 due to a spike in upstream oil prices. Due to higher energy costs and uncertain demand, some plants in the region saw their production rates drop. Sources said that China's inventory remained high. However, traders pointed out that China's lackluster end-user demand was sti...

Spot prices hike with gre...

- Spot prices hike with greater production costs- Producers add surcharges to cover higher energySharp increases were heard for polystyrene spot prices in the week leading to March 9, as the conflicts between Russia and Ukraine continued and caused energy prices to rise significantly. European producers had added surcharges to contract material, with spot prices increasing in tandem, sources s...

Energy surcharges announc...

- Energy surcharges announced amid upstream cost surge- Consumers expected to reject producer surcharges European polypropylene customers further down the chain were subject to steeper increases in March spot and contract prices due to the steep rise of upstream costs as naphtha reached new highs. On March 8th, the average naphtha price rose by more than $200-215/mt to $1,145-1,175/mt C...

Producers introduce order...

- Producers introduce order stops, withdraw offer levels- Contractual discussions heard at three-digit increases As spot trade declined and pricing uncertainty dominated, the European LLDPE market was under increasing pressure. Some producers were heard to have shut down their order books for March and issued order stops. Others selling materials were reported to have raised their...

Demand is influenced by d...

- Demand is influenced by downstream margins and operating rates- Bearish in the near-term As a result of the large buy-sell gap, discussions in the Asian ethylene markets on May 11 were limited. Participants continued to voice concerns about eroded downstream margins, reduced operating rates, and bearish sentiment. According to market sources, demand was expected to rema...

South Korean cargoes head...

- South Korean cargoes headed to the US- Limited supplies in Southeast Asia Market sources reported that toluene prices lag the rise of adjacent downstream markers on May 11, amid thin spot discussion as volatile crude oil prices persist. Due to thin spot discussions, Toluene prices lag the rise of adjacent downstream markers on May 11, amid low volatility crude prices. "Tol...

Asia-US arbitrage eyed |...

- Asia-US arbitrage eyed- H2 June/July structure narrows Arbitrage flows were a popular option for Asian benzene traders, which helped to strengthen prices. The FOB Korea benzene mark soared from $52.84/mt-$60.90/mt. It landed at $1,204.17/mt- $1,210.20/mt. There was a very close gap between an offer at $1.200/mt-$1.220/mt and a bid at 1,199/mt-1,205/mt for the July-loading FOB K...

Trade Opportunities to US...

- Trade Opportunities to US Lending Support- June/July backwardation increases Asian paraxylene continued to be bullish on the day at $1.249.33/mt-$1.260.44/mt CFR Taiwan/China, and at $1229.33/mt-$1235.55/mt FBO Korea May 11, up 41.66$, despite the fall in crude oil prices. Paraxylene's jump was more dramatic than that of feedstock naphtha C+F Japan cargoes. This increased sprea...

Asian SM climbs $22/mt on...

- Asian SM climbs $22/mt on day- Mixed Downstream Demand In response to rising Chinese domestic prices, Asian styrene monomer rose $22/mt-$27/mt to $1310/mt-$1330/mt CFR China May 11. Sources said that participants in the East China domestic market bought the dip following the fall of the previous session. Others mentioned stronger benzene feedstock prices. Styrene sup...

China and Taiwan's demand...

- China and Taiwan's demand is behind FOB Korea- Japan MX tight during refinery maintenances Asian isomer-grade mixed xylene continued to rise steadily day after day. It was up $35/mt-$45/mt @ $1,166/mt FOB Korea and up $25/mt-$35/mt AT $1,166/mt-$1,175/mt CFR Taiwan. It was also up $10/mt-$20/mt to $1,051/mt-$1,060/mt China on May 11. Market sentiment remained bullish despite arbitra...

Fall in gasoline prices l...

- Fall in gasoline prices leads to a flat price- Crude oil dips back below $100/b US Gulf Coast spot MTBE flats prices edged 0.75c lower on May 10, following lower gasoline prices and taking into account a bid made during the Market on Close evaluation process. LyondellBasell offered 25,000 barrels at 422.25c/gal for May 18-22. Enterprise Products offered 50,000 barrels of...

Trading falls before the...

- Trading falls before the plant restarts- Benzene loses support at bearish energy European styrene prices fell on May 11th, with market sentiment indicating that stocks were improving by the end. After a trader indicated at $1950/mt-$1970/mt on April 10, a trade was made at $1925-1955/mt to trade May-loading cargoes. The trade was made quickly at $2,195/mt-$2,198/mt. This is...

MTBE Outright Prices at H...

- MTBE Outright Prices at High Levels- Gasoline versus naphtha spread narrows Spot European methyl Tertiary Butyl Eth prices surged on May 11 due to increased buying interest during the Market on Close process. MTBE prices soared up to $1,400.25/mt-$1,430.30/mt FOB ARA. This was due to increased buying interest during MOC. Two bids were made for 1,000/mt-1,030/mt at $1.400/mt-$1,430...

As mortgage interest rate...

- As mortgage interest rates rise, domestic demand is expected to slow down in 2H 2022- US PVC Exports in Q1 2022 almost 5% Lower than Year: ITC Based on stable pricing indicators, US spot export polyvinylchloride prices were flat for the week of May 11. The prices were set at $1,740-$1,750/mt FAS Houston. The assessment includes May volumes priced at $1,720-1,730/mt. An addi...

Availability an Issue: So...

- Availability an Issue: Source- US PET Imports in Q1 2022 Up nearly 47% Year: ITC The US import polyethylene Terephthalate price was unchanged at $2,282-$2,304/mt (13.5-24.5 cents/lb). DDP US West Coast. This assessment is based on stable pricing indicators. The domestic PET rail car prices were flat at 109.5-110.5c/lb. This was in spite of stronger pricing indicators and formu...

Monthly production falls...

- Monthly production falls 2.64%: ACC- The USITC reports that exports have fallen less than 1% over the past year. US Gulf Coast spot propylene declined on May 11, as lower upstream prices for polymer-grade propylene continued to fall. The US export homopolymer injection grade polypropylene was 2 cents lower at $2,359–$2,381/mt (107-108cts/lb). FAS Houston. This is due to su...

Unchanged upstream styren...

- Unchanged upstream styrene- Butadiene also stabilized on week The US acrylonitrile-butadiene-styrene was assessed stable on the week of May 11. Spot ABS was assessed at 188.5c/lb, which is unchanged from the previous week. Spot styrene monomer was steady at $1,875/mt on May 10, the same level as May 3. Spot acrylonitrile in the US was flat at $2,255-$2,265/mt FOB USGC...

Buyers take a wait-and-se...

- Buyers take a wait-and-see approach- The supply-demand balance increases The European acrylonitrile-butadiene-styrene market saw limited demand for spot material in the week of May 11. ABS demand dropped in April due to rising prices and volatility in the energy markets. However, the demand for spot material in Europe's acrylonitrile-butadiene-styrene market saw limited activit...

China exports GPPPS, but...

- China exports GPPPS, but import interest is muted- Support for EPS exports from Southeast Asia. As sluggish Chinese demand continued to weigh on Asia's polystyrene markets, there was a downward trend across all grades. This was despite the daily recovery in feedstock monomer prices. Some buyers waited until May 16 to buy, despite the volatile crude oil prices. However, buying i...

Buyers become bearish |...

- Buyers become bearish- China's demand is declining Asian acrylonitrile-butadiene-styrene fell $20/mt-$25/mt week on week to $1,830/mt-$1,840/mt CFR China and $1,880/mt-$1,890/mt CFR Southeast Asia May 11 amid slow trading due to lackluster demand in China. Some producers are concerned about COVID-19 lockdowns occurring in China. This is because buyers have weakened interest in Ch...

China's demand recovery i...

- China's demand recovery is uncertain- Southeast Asia continues to see poor buying The Asian polypropylene market saw prices drop on May 11. East China caused domestic cargoes to fall by Yuan 50/mt- Yuan 55/mt, bringing the average price down to Yuan 8600/mt- Yuan 8650/mt for the week. After a slight rise in domestic prices during the last half of the week, bearishness returned...

Long vacations lead to in...

- Long vacations lead to increased demand- Expected operating rates to stay at 80%-83% Due to increases in PX and upstream prices, Asian PET market offers were higher during the week ended May 11. After the long holidays, demand for PET chips in bottle form improved. Some deals were made as buyers wanted to secure space for the June and July shipping dates due to China's ongoing...

Low demand due to high pr...

- Low demand due to high prices- May Contract negotiations underway The European GPPS market spot prices remained steady from May 11 to 12, with tight supply pushing against waning demands caused by high prices. GPPS trading was still heard at Eur2,500/mt-Eur2,520/mt with talk of lower trades that were not supported and distributors offering higher prices. However, little in...

Traders indicate length o...

- Traders indicate length on the spot market- Logistical problems persist The European polypropylene spot market was subdued during the week of May 11, despite falling prices. Seller pricing flexibility increased homopolymer spot price assessments down Eur25/mt-Eur 35/mt on that day and Eur1,975/mt-Eur1,980/mt for the week FD Northwest Europe. This was due to persistent market length...

Sellers are not anticipat...

- Sellers are not anticipating an increase in demand- The metallocene grades are still tight despite the imports Prices were declining despite tight supply during the week ending May 11, as buyers continued to be reluctant to buy additional material beyond what they needed. As converters remain concerned about the possibility of a recession, high inflation, and decreasing purchas...

Customers take time and p...

- Customers take time and postpone buying- Under pressure on producers' margins The spot price of European virgin polyethylene Terephthalate continued to fall in the week ending May 11, despite increased supply and demand uncertainty. Sources claim that the European PET market has been quiet this week. As they wait to find out more information about the market and the direct...

June CP Swap valued $59/m...

- June CP Swap valued $59/mt lower than May term CPs- June-July, July-Aug CP propane swap backwardation narrows The June front-month Saudi CP swap was valued at $791/mt-$750/mt on May 12, down $19/mt- $25/mt and $59/mt- $85/mt lower than the May term contract prices. The June-July CP propane swaps backwardation decreased $9/mt- $15/mt to $4/mt- $15/mt. July-August backwardation fe...

Asia LPG is in line with...

- Asia LPG is in line with crude- June FEI propanol discount to MOPJ naphtha increases by $6.75/mt up to $99.75/mt Asia LPG prices were lower on May 12th, as the crude oil complex fell lower and cargo supply was healthy due to inflows coming from the US Gulf Coast. Sources said. On May 12, the front-cycle H1 June CFR North Asia propane price was $816/mt-$820/mt. This was down $9/mt...

Front-month stable at 99c...

- Front-month stable at 99c/gal- There were no trades on the day due to low market participation The US methanol spot price remained steady for the fifth straight day, as the market continues its flood of healthy supply amid decreasing demand. May spot methanol was stable at 99c/gal FOB USG. It came within an offer spread of 92-100c/gal FOB ITC. June methanol was flat at 100c...

Cumene, and ethylbenzene...

- Cumene, and ethylbenzene demand in gasoline pool increase feedstock benzene prices- The US styrene markets prove opaque as traders look at steep Europe backwardation. The US May DDP benzene rose by 7.5cents to 455.5c/gal from May 12. Fundamentals continued to improve. Two sources indicated that there was a decrease in the production of benzene from selective toluene-disproportio...

Market position | EPC eth...

- Market position- EPC ethylene stable on the day The US Gulf Coast spot ethylene was stable on May 12, despite little trading activity. May Mont Belvieu's ethylene was steady at 28.5 cents/lb Fd Mont Belvieu on the day. This is within a bid-offer range between 28.75 and 28.75 cents/lb. June Mont Belvieu's ethylene was also unchanged at 28.25c/lb FD Mont Belvieu. This maintai...

Europe opens up to the US...

- Europe opens up to the US- US PX Players weigh unattractive options The US Gulf Coast spot price for nitration-grade toluene/mixed xylenes surpassed 500c/gal for the first time on May 12. This attracted import interest from not only Asia but also Europe. Spot NGT and MX rose 10 cents each day to 501c/gal in May. NGT was last offered at 500c/gal FOB ITC Deer Park, and 565c/ga...

Naphtha crack spreads wea...

- Naphtha crack spreads weaker than crude- The liquidity drops again With a slight uptick in crude oil prices on May 12, the Northwest European naphtha markets were stronger in absolute terms. Sources said that liquidity in the spot market fell further because market participants remained loyal to their contracts in Northwest Europe and did not see the need to enter it. Acc...

Styrene rises to $55/mt d...

- Styrene rises to $55/mt during five-to-30-day forward laycan- The premium to benzene price has increased by $50.75/mt during the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50/mt as a producer purchased several cargoes to load during...

Supply tighter than antic...

- Supply tighter than anticipated- CFR Northeast Asia China spreads widest since December 2020 Asian butadiene was flat at $50/mt- $70/mt higher on May 12, due to tight supplies in South Korea, Japan, and China. China was also under pressure. Spot demand was reported by trading sources in South Korea and Japan for the first half of June delivery. This was to meet supply shortages...

92 Ron edges up 0.97%, cr...

- 92 Ron edges up 0.97%, crude inches down 0.1% on day- China's MTBE supply is on the rise; lower crude might close arbitrage soon Asian MTBE rose $11.50/mt-$11.75/mt to $1,199.50/mt- $1,210/mt FOB Singapore May 12. This was despite an increasing gasoline market. However, there was little discussion in the MTBE spot trade. Market sources reported that there was talk about a flurry...

Shandong propylene gains...

- Shandong propylene gains Yuan 50/mt- South Korea's Taiwan will run Ulsan PDH Plant at a 90% Rate for May According to market sources, the CFR China propylene market dropped $5/mt-$15/mt on May 12 with bearish sentiments affecting buying. At 0830 GMT Asian time, the July ICE Brent crude oil futures fell $0.16/b over the previous session to $105.36/b. According to a South Ko...

Outlook bullish after dem...

- Outlook bullish after demand recovers- ICE crude oil futures are down 16 Cents/b Due to a slightly tight supply, Asian mono ethylene glycol prices rose on May 12. According to market sources, several Chinese producers were operating at around 60% due to lower margins and slower sales. The ICE July Brent futures contract fell 16 cents/b to $105.36/b at 4:30 pm Singapore tim...

East China's domestic pri...

- East China's domestic prices rise due to restocking- India ex-tank at Rupee 30-Rupee 30,50/kg Restocking in east China on May 12 lifted the near-term sentiment on China's methanol market. In afternoon trading, domestic methanol prices were about Yuan 70/mt higher in east China than on May 11. Prices closed at Yuan 20-Yuan 25, or 25/mt, higher than May 11. Spot cargo...

Producers hold on to offe...

- Producers hold on to offers- Purchase indications are limited by low downstream prices Asian spot prices for ethylene were stable on May 12, despite largely unchanged market fundamentals. However, buying and selling indicators remained very far apart. Market sources stated that buyers were reluctant to pay more for ethylene. The buying indications for Northeast Asia were set a...

Demand drive from gasolin...

- Demand drive from gasoline blenders- India's prices rise due to US arbitrage Asian toluene prices were stronger than expected on May 12, despite a spike in downstream aromatics prices, arbitrage flows to the US, and other factors. Crude prices traded in tight ranges while Asian toluene was trading stable to higher. A producer stated that most gasoline blenders keep [stocks] whi...

H2 June-July firm at + $5...

- H2 June-July firm at + $5/mt- Widening the paper market As participants responded to the US's strong prices, a flurry in trading activity was seen in the Asian benzene markets on May 12. FOB Korea benzene markers rose from $18.16/mt- $20.18/mt on May 12 to $1,222.33/mt- $1,235.40/mt with July lay cans getting bids as high as $1.218/mt. On the day, July received no offers.&...

Feedstock MX surges $51/m...

- Feedstock MX surges $51/mt on day- South Korea exports X to China, the US, and Brazil in April Due to tight supply, bullish US markets, and strong arbitrage interest, Asian paraxylene reached a two-month peak on May 12. Asian paraxylene rose $19.34/mt- $19.45/mt on the day to $1.268.67/mt- $1.276/mt CFR Taiwan/China May 12 and to $1.248.67/mt-$1.276.78/mt FBO Korea May 12, desp...

China's exports slow down...

- China's exports slow down due to increasing supply and weaker demand- Rising benzene prices pile pressure After the positive trend in domestic China, Asian styrene monomer was valued at $15/mt- $25/mt at $1.325/mt-$1.350/mt CFR China May 12, the prompt marker was assessed at Yuan 145/mt- Yuan 165/mt, Yuan 10,010/mt exp-tank. This equates to $1,290.60/mt- $1,310.80/mt if you con...

June's sellers emerge on...

- June's sellers emerge on the market- China market remains under $1,000/mt Asian isomer-grade mixed xylene was valued up $51/mt on the day at $1.218/mt- FOB Korea. It was up $25/mt to $1,166/mt CFI Taiwan and up $10/mt to $1,061/mt CFI China, May 12. As US MX and other blendstocks prices rose overnight, The June cargoes' bids rose, surpassing the $1,200/mt-$1250/mt FOB Korea thr...

Premium to gasoline const...

- Premium to gasoline constant on the day- Crude flattens amid counterpressure US Gulf Coast spot MTBE flats prices rose 10.62 cents to 454.17c/gal on May 12, following higher gasoline prices. Flat prices are close to the record of 455.55 Cents/gal. This was reached on April 3, 2012. Enterprise Products offered 25,000 barrels for 480 cents/gal from May 23-27. However, this pr...

June trading was recorded...

- June trading was recorded at $1,330/mt- Benzene-styrene spread continues to narrow European benzene prices rose on May 12, driven by US increases. On June trading, $1,330/mt- $1350/mt was heard. During the Market on Close assessment process, a bid for May was heard at $1300/mt- $1350/mt. A trader stated that this was due to the upward movement in the US. This is beca...

MTBE Premium at 7-year Hi...

- MTBE Premium at 7-year High- The spread of gasoline to naphtha is widens On the back of increased buying interest during the Market on Close process, the spot prices for European methyl tertiary ether rose further May 12. The MTBE spot price reached a 10-year peak of $1,444.25/mt- $1,455.30/mt FOB ARA on May 12. This was due to buying interest during MOC. A bid for 1,000 mt was...

East China's domestic pri...

- East China's domestic prices rise due to restocking- India ex-tank at Rupee 30-Rupee 30,50/kg Restocking in east China in May 12 lifted the near-term sentiment on China's methanol market. In afternoon trading, domestic methanol prices were about Yuan 70-85/mt higher in east China than May 11. Prices closed at Yuan 20-Yuan 25, or 25/mt, higher than May 11. Spot cargo ta...

2-EH drops nearly $100 on...

- 2-EH drops nearly $100 on week- NBA, plasticizers stable Due to congestion along the railroad tracks and other logistic issues, domestic US oxo alcohol prices varied over the week of May 12. Normal butanol export prices were unchanged at $2,500-2,510/mt FOB USG on May 12. This is despite the last discussed levels of $2,500/mt-$2,545/mt. The CFR China marker also tracks stability...

AA trades higher in week...

- AA trades higher in week- Celanese declares FM The US Gulf Coast spot price of acetic acid rose in the week ended May 12, amid continuing force majeures. The week's export acetic acid increased $115/mt-$125/mt to $1,765/mt-$1,785/mt FOB USG. This includes a trade that was heard at this level. According to a letter received by customers on April 19, LyondellBasell declared a...

Minimum 6,000 mt trading...

- Minimum 6,000 mt trading spot on the day- Rising gas prices lead to lower methanol production European methanol prices rose on May 12, on firming buying and tightening markets. However, there was not much change in demand for the FOB Rotterdam five-to-30-day methanol spot price at Eur355/mt-Eur375/mt on May 12. This is due to a firming market. Sources say that at least 6,000 mt w...

Chinese 2-EH Price Down Y...

- Chinese 2-EH Price Down Yuan 400/mt in Week- Taiwan's Nan Ya Plastics reopens the 64,000 mt/year line for PA on May 10 Declined 2-ethyl hexanol CFR China markers May 12th, as weak downstream demand for plasticizers punctured buying interests. The spread of coronavirus reportedly caused a shortage of plasticizer products in east China. A DOP plant operator from Ningbo stated that...

The AA trade is limited b...

- The AA trade is limited by the bid-offer range- VAM trading up in Northeast Asia- Chinese EVA producers are able to meet VAM demand AA: East China's domestic acetic acid market prices soared on May 12th due to news of a US acetyls manufacturer being forced into bankruptcy. Celanese, a global producer of specialty chemicals and chemical products, declared force majeure on...

EDC Demand Bearish in Asi...

- EDC Demand Bearish in Asia- VCM Market Bearish amid Falling PVCEDC: Asian EDC dichloride was assessed stable during the week ending May 12, despite a lack of price discussions. Market sentiment was mixed. In Asia, EDC demand was considered bearish due to falling downstream markets. However, prices in non-Asia countries, such as Europe or the US, remained higher. The feedstock ethyl...

Failure of buyer-seller n...

- Failure of buyer-seller negotiations- Benzene feedstock price surges Sellers and buyers failed to come to an agreement over prices in large part due to rising feedstock costs, and low demand. This led to a slowdown in the Asian caprolactam markets on May 12. Participants pointed out trade indications of around $2,140-2,170/mt on May 12, based on the May-listed price. Two Chin...

Lower AA prices for the w...

- Lower AA prices for the week- VAM: 185,800 mt available on duty-free quotaAA: Supply concerns aside, the European acetic acid market has softened over the week to May 12. AA was assessed at Eur1,700/mt-Eur1,740/mt to be delivered in Northwest Europe, a drop of Eur80/mt-Eur90/mt over May 5. According to a company notice seen on May 11, Celanese declared force majeure on shipments to...

Increase in Isobutanol De...

- Increase in Isobutanol Demand- Participants indicate macroeconomic concerns The demand for oxo-alcohol in Europe improved over the week to May 12. Market participants indicated a more balanced outlook. N-butanol spot price at Eur2,150/mt-Eur2,175/mt. FD Northwest Europe. Prices dropped Eur50/mt to the highest point of an indicative range between Eur2,100-2,200/mt from a producer. ...

Asian PET Recycled: Stead...

Asian PET Recycled: Steady After Trades Return from Holidays# Bale supplies tight# Recyclers fight rising costsAfter traders returned from vacations, Asian recycled polyethylene Terephthalate prices remained stable on May 11. The main reason for high prices in the Asian RPET market was the rising feedstock costs. However, recyclers were unable to pass the costs on to consumers. With...

Asian PET Weekly Rational...

Asian PET Weekly Rationale FOB Northeast Asia PET rose by $30/mt-$40/mt, to $1,230/mt to $1,280/mt on May 11, due to deals made from a trader at $1.230/mt- $1.280/mt. FOB Southeast Asia PET rose by $30/mt-$40/mt and reached $1,320/mt-$1,350/mt. This is in line with FOB NE Asia prices due to similar market movements, despite a lack of transactions. Yuan 605/mt- Yuan 650/mt for Chin...

Asian PET: Increased offe...

Asian PET: Increased offers based on upstream gains# The long holiday season brings an increase in demand# Operating Rates likely to stay at 80%-83% Due to increases in PX and upstream prices, Asian PET market offers were higher during the week ended May 11. After the long holidays, demand for PET chips in bottle form improved. Some deals were made as buyers wanted to secur...

Asian PTA Weekly Rational...

Asian PTA Weekly Rationale After spot discussions and a rise in PX prices, the PTA CFR China marker was up $13/mt-$18/mt to $980/mt-$995/mt on May 13. The marker was up $53/mt-$76/mt during the week. China's domestic PTA was valued at Yuan 114/mt at Yuan 6,785/mt Ex-Warehouse. This is above the bidding indication that was last heard at floating formula TA2209 plus Yuan 80-90/mt.&n...

Asian ABS: Drops $20/mt a...

Asian ABS: Drops $20/mt amid lower discussions# Buyers become bearishChina's demand is decliningAsian acrylonitrile-butadiene-styrene fell $20/mt-$30/mt week on week to $1,830/mt-$1,850/mt CFR China and $1,880/mt-$1,910/mt CFR Southeast Asia on May 11 amid slow trading due to lacklustre demand in China. Some producers are concerned about COVID-19 lockdowns occurring in China. This is beca...

Asian PS. Falls $10-$65/m...

Asian PS. Falls $10-$65/mt during bearish marketChina exports GPPS, but import interest is mutedSoutheast supports #EPS exportsAsia demand Despite the daily recovery in feedstock monomer prices, the Asia polystyrene markets saw a decline in demand across all grades. Some buyers waited until May 16 to buy, despite the volatile crude oil prices. However, buying indicators remained...

Asian Price Point: China...

Asian Price Point: China slightly lower, South Asia prices at their lowest: Sources# China's demand recovery is uncertain# Southeast Asia continues seeing poor buyingThe Asian polypropylene market saw prices drop on May 11. East China caused domestic cargoes to fall by Yuan 50/mt, bringing the average price down to Yuan 8600/mt for the week. After a slight rise in domestic prices during t...

Asian Recycled HPPE: Low...

Asian Recycled HPPE: Low Demand# Cost push could drive recycled prices higherLast month 175 shipments from Asia of recycled plastics to the USOn May 11, Asian recycled high-density polyethylene natural film pellet prices fell due to weak demand. Market participants had just returned from the Eid holidays. Traders said that global raw material prices would push prices higher even though ne...

Asia HDPE: Fall in Southe...

Asia HDPE: Fall in Southeast Asia due to weak demand# Soft demand post-Eid holidaysChina Lockdowns place pressure on the rest of AsiaPrices of Asian high-density Polyethylene fell in the week ending May 11, due to weak demand from workers returning from Eid holidays in Southeast Asia. The Market on Close assessment revealed that there were fewer offers and indications for HDPE in Sout...

Asia LLDPE: Fallen on wea...

Asia LLDPE: Fallen on weak demand# India Reliance revives Nagothane PE plant# Arbitrage is difficult in a container shortageThe week ended May 11, 2008, saw Asian low-density linear polyethylene prices fall due to a lacklustre demand from China and traders returning to work after the Eid al-Fitr holiday. The trader said that although the Southeast Asia-Europe-US and Southeast Asi...

Asia recycled LDPE - Down...

Asia recycled LDPE - Down on weakening demandThailand ENVICCO to build a recycled PE plant in Q2# Bullish Long-term outlookAsian recycled low density polyethylene prices fell on May 11, due to weak demand. This was because workers are returning from Eid holidays in Southeast Asia. However, the outlook for long-term recycled demand was bullish. Sources said that many buyers...

Asia: Low demand has caus...

Asia: Low demand has caused a drop in LDPE usage in Southeast Asia.# India Reliance plans to close polymer plants at Hazira starting May 20China's demand is dulled by lockdownsDue to low Eid holiday demand, Asian low-density plastic ethylene prices were down $70/mt-$90/mt. Sources said that inventories were low and import orders were not large due to China lockdowns. Sources...

Asian PVC: Drops $10/mt b...

Asian PVC: Drops $10/mt because of bearish sentiment# Ex China offers active# June Offers to Lower by $50-$100/mtDue to bearish market sentiment, Asian polyvinylchloride was down $10/mt-$15/mt on week May 11. CFR China PVC prices fell $10/mt-$17/mt on week to $1,300/mt-$1,350/mt, May 11. CFR India prices declined $10/mt-$15/mt, to $1,520/mt-$1,560/mt. Due to China's active exports, t...

Asian Butadiene Daily Rat...

Asian Butadiene Daily Rationale CFR China butadiene prices rose $40/mt-$70/mt over the course of May 13 to $1,340/mt-$1,380/mt. This is in line with an average tradeable value in the low $1.300s/mt-$1.340/mt CFR China. Due to limited supply and price negotiations, the FOB Korea butadiene cost was unchanged at $1,400/mt-$1,420/mt day-on-day on May 13. On a FOB Korea basis, no deal...

Asian Propylene Daily Rat...

Asian Propylene Daily Rationale Propylene CFR China was unchanged in assessment at $1.095/mt-$1.115/mt May 13. This is below a selling indication at $1.100-$1,150/mt CFR China, and above a buying indication at $1.050/mt-$1.070/mt by end-users. FOB Korea was unchanged at $1.130/mt on May 13 above buying indication at $1.040-$1,050/mt FOB Korean by a buyer. China Shandong prices rem...

Asian MEG Daily Rationale

Asian MEG Daily Rationale After discussions with a trader, Asian nonethylene glycol was rated stable at $630/mt- $670/mt CFR China May 13, MEG for China was also assessed at Yuan 145/mt- Yuan 175/mt in the same time period, at Yuan 4,980/mt- Yuan 4,990/mt exp-tank. This was after discussions with a trader. Prices for Southeast Asia were assessed at $5/mt- $7/mt on the day at $640/...

Asian Ethylene Daily Rati...

Asian Ethylene Daily Rationale Due to a lack of discussions, the Ethylene CFR Northeast Asian assessment was unaffected at $11,170/mt- $13,180/mt on May 13. The assessment was $20/mt-$50/mt less week-over-week. Due to limited trading and weak supply, the CFR Southeast Asia assessment was stable at $1.220/mt- $1.240/mt. The assessment fell $20/mt-$50/mt week-on-week. FOB...

Asian MTBE Daily Rational...

Asian MTBE Daily Rationale Asian MTBE rose $77.50/mt- $95.60/mt to $1,265.50/mt-$1,275.70/mt FOB Singapore May 13th. During the Market on Close assessment, there were no transparent bids or offers. FOB Singapore MTBE marker was valued at $1,265.50/mt- $1,275.80/mt. This is based on the rolled-over factor of 1.070 and 92 RON, which are up 6.51%. This marker is the current pric...

Asian Methanol Daily Rati...

Asian Methanol Daily Rationale Due to thin trading, Asian methanol was stable at $343/mt-$360/mt CFR China on May 13. Yuan 3,3 mt of East China's domestic methanol was evaluated down May 13, at Yuan 27,212/mt ex-tank May 13. This was in spite of Yuan 2,710- 2,715/mt ex-tank discussions. On the basis of thin price negotiations, Southeast Asia methanol was maintained at $418/mt-$430...

Asian caprolactam - Senti...

Asian caprolactam - Sentiment declines due to low demand# Buyer-seller negotiations fail# Benzene feedstock price surgesSellers and buyers failed to come to an agreement over prices in large part due to rising feedstock costs, and low demand. This led to a slowdown in the Asian caprolactam markets on May 12. Participants pointed out trade indications of around $2,140-2,170/mt on May 12, ba...

Asian Styrene Monomer Dai...

Asian Styrene Monomer Daily Rationale Asian SM was unchanged at $1,325/mt- $1,340/mt CFR China May 13 and $1,355/mt-$1,370/mt FPOB Korea May 13. The average H1 June laycans and H2 June laycans is used to calculating the marker. During the Market on Close process, there were no transparent offers or bids. H1 and H2 June laycans were valued at $1.325/mt-$1.350/mt CFR China. Thi...

Asian Orth xylene Weekly...

Asian Orth xylene Weekly Rationale Asian Orth xylene was evaluated higher week-on-week at $1.165/mt-$1.185/mt in China on May 13, and at $1.210/mt-$1.230/mt in Southeast Asia on May 13. The FOB Korea marker rose $55/mt-$65/mt to $1,290/mt-$1,320/mt due to a rise in feedstock mix xylene prices as well as an increase in OX European price levels. The FOB Korea isomer-MX marker rose $74/mt...

Asian Iso–MX Daily Ration...

Asian Iso–MX Daily Rationale Isomer MX was down $8/mt-$15/mt on the day at $1.209/mt-$1.250/mt FOB Korea. It is stable at $1.188/mt-1.210/mt CFR Taiwan, and up $5/mt-$10/mt to $1,066/mt-$1,080/mt CRC China, May 13. The marker takes into account the third and fourth half months of laycans. Currently, H1 June and H2 June. During the Market on Close assessment, there were no transpa...

Asian Paraxylene Daily Ra...

Asian Paraxylene Daily Rationale Asian paraxylene was valued at $20.41/mt-$30.81/mt, $1,289.08/mt- $1,290.15/mt CFR Taiwan/China, and $1,269.08/mt FBO Korea May 13. H1 July laycans and H2 July were valued at $1.285.5/mt-$1.290.10/mt based on three trades at $1.287/mt Samsung C&T/GS Caltex. Normalization was made to $1.285.50/mt- $1.290.70/mt due to restrictions in origin. H2 J...

Asian Solvent MX Weekly j...

Asian Solvent MX Weekly justification Solvent-MX was valued at $94/mt-$120/mt more than the previous week, at $1.221/mt- $1.270/mt FOB Korea May 13th. This assessment took into account a June loading bid that was last heard at $1.220/mt- $1.260/mt. The bid went up from $1,197/mt-$1,210/mt during the trading day but to no avail. There were no trades. CFR China was valued a...

Asian Toluene Daily Ratio...

Asian Toluene Daily Rationale Asian toluene was rated at $10/mt-$20/mt higher than the previous session, $1,070/mt-$1,090/mt FOB Korea, and $1,025/mt-$1,055/mt CRC China May 13. The markers are the average of the third- and fourth-half-month laycans. At the moment, the markers are H2 June and the first-half June. During the Market on Close assessment process, no transparent bids o...

Asian Benzene Daily Ratio...

Asian Benzene Daily Rationale Asia benzene was valued at $9/mt-$10/Mt higher than the previous session, at $1231.33/mt-$1250.55/mt FOB Korea May 13 the average of H1 June, H2 June, and H1 July laycans was used by the marker. There were no transparent offers or bids during the Market on Close assessment on May 13. Each July laycan was assessed at $1228/mt- $1240/mt. This is hi...

May CP propane swap $81.5...

May CP propane swap $81.50/mt below April term CPs  Market activity thin as participants await Saudi May propane CP announcement   As market participants waited for the announcement of Saudi Aramco's May contract prices for term-lifters, there was little activity. The April front-month May Saudi CP prop propane swaps were valued at $855-875/mt, a decrease of $4-5/mt ove...

Asia LPG prices fall on s...

Asia LPG prices fall on selling interest in the spot market  May FEI propane discount to MOPJ naphtha widens from $11/mt to $86/mt   Asia LPG prices fell on April 28 despite a slight increase in crude futures. The front-cycle H2 May CFR North Asia propane on April 28 was $830-840/mt. This is down $3-4/mt from the previous session. CFR North Asia butane was valued at $8-1...

Spot methanol prices fall...

Spot methanol prices fall 2 cents to reach an 18-week low  SCC settles May contract price 12 cents lower on month   US methanol spot market price continued to fall as market participants reported lower offers on April 28. May spot methanol prices dropped 2 cents to 109c/gal FOB USAG, an 18-week low. On Dec. 20, 2021, spot methanol prices had fallen to 106c/gal FOB U...

Benzene-to-crude ratio lo...

Benzene-to-crude ratio lowers to 1.61  The styrene market monitors styrene unit operations   US May benzene remained steady at 404c/gal on April 28, despite the higher crude futures. As a result, the focus shifted toward ongoing contract negotiations. Sources indicated that there would be a slight movement in the May contract price of plus or minus 2c/gal. The April c...

Export issues contribute...

Export issues contribute to a lack of demand  Slim margins cause run rates to be cut   The US ethylene spot market indications were sparse. Market participants reported very few trades, bids, and offers on April 28. May Mont Belvieu ethylene saw a 0.125 cent increase to 27.5 cents/lb FD Mont Belvieu, based on a May ethylene bidding heard at 27.25 Cents/lb MtB pipe. ...

Blending demand improved...

Blending demand improved the outlook  Petrochemical demand is still weak  Sources said that the Northwest European naphtha Market rallied on April 28 due to strength in the wider oil complex and signs that the gasoline arbitrage between Europe and the US has reopened. CIF NWE naphtha cargo price rose 2.4% to $910-925/mt. The front-month FOBAR Eurobob swap for napht...

Styrene rises $55/mt for...

Styrene rises $55/mt for five-to-30 days forward laycan  Premium to benzene increases by $50.75/mt on the week   At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50-55/mt as a producer purchased several cargoes for loading in February.&nb...

Japan buying supports Sou...

Japan buying supports South Korea, Northeast Asia  China's demand is limited, with exports seen   Asian butadiene prices were mixed on April 28. The CFR Northeast Asia price rose $20-25/mt per day due to demand from Japan, while the CFR China price remained stable due to limited demand. Due to the stronger demand from Japan, FOB Korea's butadiene price rose $20-25/mt per...

No trades during MOC | MT...

No trades during MOC  MTBE factors narrow as gasoline crack widens   Asian MTBE fell $1-2/mt per day to $1,165-1,175/mt FOB Singapore on April 28. On April 28, the Market on Close saw activity continue with a bid by PTT Singapore to load a 3,000-mt cargo from May 13-17, a Phillips offer for loading a 2,000-mt car over May 23-27, and an offer by Aramco Singapore to load a...

Buying stays weak | SK Ad...

Buying stays weak  SK Advanced to reduce Ulsan PDH plant rate by at least 10% for May   After three days of decline, the Asian propylene market was stable on April 28. This is due to both sellers and buyers taking a break amid low bids and offers. Upstream, the June ICE Brent crude oil futures fell 35 cents/bday on the day to $104.98/b by the 0830 GMT Asian closing on Apr...

Low inventories spur buyi...

Low inventories spur buying  Outlook mixed on recovering demand, oversupply   Prices of Asian mono ethylene glycol rose on 28 April due to tight supply. This is because deliveries to China have been slow and inventories are low. Sources claimed that there was a vessel shortage in China due to congestion at ports. This could be explained by reduced manpower during lockdown...

Southeast Asia is quiet d...

Southeast Asia is quiet due to the Hari Raya festival  India ex-tank stable at Rupees 30-30.50/kg   After a pickup in trading activity earlier this week, discussions in the Asian market for methanol were muted on April 28. An original offer of a 10,000-mt parcel at $425-435/mt CFR Korea in June was rejected. It was then sold to a China-based buyer at a premium of 2.3% t...

Key downstream margins re...

Key downstream margins remain negative  Ongoing lockdowns in China dampen derivative demand   The Asian ethylene market saw prices fall on April 28 due to weak sentiment and negative downstream margins. On April 28, margins in the downstream MEG sector were calculated at minus 254/mt. Margins for SM were calculated at minus $170-180/mt while margins for HDPE film we...

Thin discussions on FOB K...

Thin discussions on FOB Korea cargoes  China sellers heard active in SEA, South Asia markets   Asian toluene prices remained stable on April 28 despite tight trading sessions on crude futures and limited discussions on spot toluene markets. Both buyers and sellers remained on the sidelines despite volatile crude and downstream prices. Although cargoes were available...

ENEOS lowered the May ACP...

ENEOS lowered the May ACP settlement by $15/mt  Sinopec increased its listed price by Yuan 150/mt   On April 28, Asian benzene spot markets discussions were quiet while domestic Chinese prices rose due to firm offers. Open arbitrage opportunities between South Korea and the US-led to a tightening of Asia's local supply. This means that there is less supply from local pro...

May ACP discussions fail...

May ACP discussions fail to settle  Qingdao Lidong restarts the PX unit from turnaround  Asian paraxylene gained $1-2/mt in Asia on April 28 at $1165-1195/mt CFR Taiwan/China, and $1,145-1,155/mt FBO Korea. This was amid mixed market movements. The ICE June Brent crude oils futures contract fell 35 cents/b to $105-110/b at 0830 GMT Asian close on April 28. Naphtha C+F Ja...

South Korea balanced foll...

South Korea balanced following supply increment  SM margin remains negative   Asian spot styrene monomer price was lower by $10-12/mt, at $1,295-1,315/mt CFR China mark. The China domestic price was down by Yuan 110-140/mt, at Yuan 9,665-9,695/mt exp-tank. This equates to $1,277.72/mt based on import-parity on April 28. Spot discussion in China was held on April 28 at Yua...

Qingdao Lidong restarts t...

Qingdao Lidong restarts the plant  East China MX inventory rises   Asian isomer-grade mixed xylene rose $7-10/mt on the day to $1,075-1,100/mt FOB Korea, and $1,095-1,120/mt CFR Taiwan. It was stable at $1,045-1,075/mt CFR China on April 28, as H2 May cargoes were being offered and prices rose. A market source stated that H2 May trading is almost complete and that assessm...

Bid withdrawn during MOC...

Bid withdrawn during MOC  Gasoline futures rise in backwardated market   Spot MTBE flat prices in the US Gulf Coast rose 8.66 cents/gal on April 28, following higher gasoline prices. LyondellBasell offered 25,000 barrels MTBE for 393.25c/gal FOB USG from May 6-10, during the Market on Close. The bid was later withdrawn. The June NYMEX RBOB price was 346.81c/gal at th...

Supply relief expected fr...

Supply relief expected from imports, plant restarts  Players see steep backwardation in the styrene market   The European styrene spot markets continued to show a steep backwardation as of April 28. There was talk of an increase in supply in May's second half. A source stated that the backwardation had been present for some time and has been pushed back. "We keep riding t...

Limited trading liquidity...

Limited trading liquidity  Blending margins keep improving  European MTBE saw pricing gains on April 28, thanks to a firm buying appetite. The MTBE FOB ARA mark was up $48-52/mt on the day and now stands at $1,270-1,300/mt on April 28. This is in response to a Market on Close assessment and gains in upstream gasoline markets. European MTBE premium to April --May-- Eurob...

June CP swap valued $31/m...

June CP swap valued $31/mt below May term Contract Prices VLGC rates ease below $66/mt but are seen stabilizing soon Month-one Saudi June CP Swap was valued at $818-830/mt on May 6, up to $8-12/mt daily and $30-35/mt lower than the May term Contract Price. The June-July CP Propane Swaps Backwardation remained steady at $10-12/mt. July-August was unchanged in a $10-12/mt backward...

Asia LPG recovers though...

Asia LPG recovers though lag Brent rise Taiwan's Formosa buys 46,000 mt propane for H1 June Asia LPG prices recovered on May 6th but fell behind the $20-25/mt increase of July ICE Brent crude oil futures from the previous Asian closing. This was due to a pause in buying interest in June cargoes. Commodity Insights valued H1 June CFR North Asia propane at $828-840/mt on May 6, up...

Spot falls to 99 cents/ga...

Spot falls to 99 cents/gal FOB USG Exports rise 69% on year The US methanol spot market price fell 9 cents in the week ending May 6, to a record low of over one year. May spot methanol prices dropped 9 cents to 99c/gal FOB USAG. This was based upon a May methanol offering heard at 100c/gal FOB ITC. June spot methanol prices fell 10 cents to 100c/gal FOB USAG, maintaining the...

US ethylene exports rise...

US ethylene exports rise 122% on yearEPC and Choctaw rise over 5 cents on the week for May The US ethylene spot market prices rose slightly over the week ending May 6th, after a slight decline on the day. EPC spot ethylene for May fell.375c on the day and rose 5.375cs on the week ending May 6. The increase was based upon a May bid/offer at 30-33.125c/lb MtB pipe. EPC ethylen...

End-users buy H2 June del...

End-users buy H2 June delivery naphtha cargoes Ample supply in Asian naphtha complex Asia paraxylene-naphtha spread rises to 2-year high Sources said that the Asian naphtha market experienced a quiet week because of national holidays. However, there was some spot activity at the end of the week regarding the H2 June delivery cycle. A tender was issued by Malaysia's Lotte Ti...

92 RON inches down 0.01%;...

92 RON inches down 0.01%; crude extends gains Lower MTBE plant run rates amid high feedstock costs Asian MTBE remained flat at $1,245-1,270/mt FOB Singapore, May 6. This was despite mixed direction in energy markets, with 92 RON slowing down and crude extending its gains. The day's 0.01% decline in 92 RON to $138.12/b was a positive sign. The front-month ICE Brent crude oil...

Chinese sellers on the si...

Chinese sellers on the sidelines await clearer price direction Softer domestic methanol demand in S Korea in May, June The week ended May 6 saw little trading activity on the Asian methanol markets. Many market participants were away on the Hari Raya Puasa and Labour Day holidays. China returned from its three-day Labour Day holiday on May 5, and methanol futures rallied in respo...

Supply dwindles, demand f...

Supply dwindles, demand firm from blenders, TDP producers Southeast Asia playing catch-up with the week's gains Asian toluene prices increased in line with crude oil and upstream markets on May 6. Sources said that a 2,000-mt cargo from Yeosu was traded at an average month June FOB Korea plus $10-12/mt June loading. A trader stated that everyone seems to be interested in June...

Margins narrow on softer...

Margins narrow on softer dollar/yuan exchange rate CFR India discussions around $100-$130/mt premium Due to a stronger China market and a weaker currency, the Asian styrene markets were pulled in both directions on May 6. Despite the tighter trading range on the East China domestic market, prices fell due to a weaker dollar/yuan rate of 6.5672 to 6.6332. According to a sou...

FOB Korea surges $48/mt o...

FOB Korea surges $48/mt on week Sinopec to start the Hainan PX line in May Asian isomer-grade mixed xylene rose $48/mt week to $11,135/mt FOB Korea, and $49/mt $1,145/mt CFR Taiwan May 6, amid tight supply. This was in spite of the $4/mt increase in the CFR China price at $1,050/mt. According to a Japanese trader, inventory levels of MX in Japan's key exporting country Japan rema...

MX discount to toluene na...

MX discount to toluene narrows OX remains tight despite softening demand Due to a rebound in demand, the premiums for European MX over gasoline rose five weeks to their highest level on the week of May 6. The MX M1 premium over gasoline was $99.25/mt on May 6 - an increase of $2/mt and $34.25/mt since April 29. Market on Close's bidding interest drove the daily gain. T...

Refineries lack the incen...

Refineries lack the incentive to produce toluene Supply concerns are still present According to Commodity Insights (down $4.25/mt week-on-week and stable on the daily), NWE toluene supplies remained tight while demand shrank on May 6. High premiums continued to be driven by supply issues, one consumer pointing out that there is no economic incentive for refineries to produce tol...

MTBE market remains tight...

MTBE market remains tight New highs for blending margins With gains in crude oil prices and gasoline prices, the spot European MTBE market ended the week strongly on May 6. MTBE prices rose to $1,410-1,440/mt FOB ARA. This was an increase of $30-35/mt and $115-120/mt respectively. It was driven by stronger front-month Eurobob gasoline, which was valued at $1,180-1,200/mt FOA ARA...

Export interest continues...

Export interest continues thin as US demand subdued Versalis to close Porto Marghera cracker May 9 The European butadiene market continued to be dominated by a tight supply-demand balance in the week ending May 6. This was due to strong domestic demand and limited spot availability. Export cargo interest remained low as traders reported little interest from US buyers, and Europe...

Exports in Q1 2022 rise 3...

Exports in Q1 2022 rise 36% on year: Trade Commission US production in Q1 2022 moves 27% higher on quarter The US spot export mono ethylene glylcol prices dropped on May 6th, amid speculation of greater availability in the region. The prices were set at 25.5-26.5c/lb FOB USGC. The pricing was discussed in a range, with prices as high as 29c FOB, which is about one cent less...

Benzene imports rise in M...

Benzene imports rise in March on monthStyrene sees stable fundamentals The US May DDP-benzene price rose by 5 cents/gal, or 8 cents/gal, on May 6, amid stronger crude futures. WTI crude futures rose $1.51/bl to $109.77/bl on May 6, an increase of 1.39%. Benzene rose by 1.23%. The benzene/crude ratio was 1.58 for the day, unchanged since May 5. This ratio is curre...

CFR China hits 2-month lo...

CFR China hits 2-month low CFR Northeast Asia-FOB Korea spread at minus $30/mt Asian butadiene fell $50-75/mt on May 6th, with CFR China falling to a 2-month low of $1300/mt. Spot price discussions were restricted throughout the week of May 1 because key market participants in Asia were not trading due to public holidays. The weak outlook for downstream rubber markets impact...

Shandong propylene up Yua...

Shandong propylene up Yuan 50/mt China's Nanjing Chengzhi to shut MTO plant for turnaround on May 15 As the Japanese and South Korean market participants were on holiday, the propylene market in Asia was steady on May 6. The July ICE Brent crude oil futures rose $1.31/b, to $111.72/b by 0830 GMT Asian close on May 6. However, this did not attract any demand for propylene. A b...

ICE crude futures rise $1...

ICE crude futures rise $1.31/b Downstream textile plants cut operations to ease inventory pressure Low demand in Asia caused the Asian nonethylene glycol price to fall despite higher crude oil prices on May 6. Sources said that the extended COVID-19 pandemic lockdown in Shanghai (China's largest city) had caused Asian nonethylene glycol prices to fall due to weak demand despite h...

Shrinking derivative marg...

Shrinking derivative margins weigh on demand Naphtha-ethylene spread turns negative The week ended May 6, with a holiday activity in Asia. The sentiment was also weak due to the pandemic lockdown in Shanghai, which weighed on Chinese buying interest. Eroding downstream margins, which have reduced operating rates, continue to be cited by buyers as a reason for reducing ethylene dem...

ICE Brent crude futures f...

ICE Brent crude futures firm June paper holds steady Trade momentum in the Asian benzene markets increased on May 6 due to a stronger crude oil market, which led participants to reconsider their positions. Open deal trade for June loading FOB South Korea cargo was made in the late afternoon. It was sealed at $1,180-1,200/mt. It's still higher than the $1,175-1,195/mt last bid...

PX-naphtha spread reached...

PX-naphtha spread reached 2-year high on May 5 Sinopec Hainan plans to restart the small unit late-May Due to low trading activity, Asian paraxylene was down $2-4/mt at $1,195-1,210/mt CFR Taiwan/China May 6 and $1,175-1,195/mt FBO Korea May 6. The marker closed at $1,195-1,210/mt CFR Taiwan/China, and $1,175-1,195/mt FBO Korea on May 6, $10.84/mt lower than the previous week.&n...

Supply/demand mixed amid...

Supply/demand mixed amid weaker Asian spot Initial May MEG contract settled at Eur1,060/mt This week, European MEG sentiment was mixed. Barge prices eased amid weaker Asian spot prices but truck levels remained steady as some business was completed at different levels within a Eur800-860/mt trading band this week. Both supply and demand were viewed in mixed light. Some buyer...

Length heard in both coas...

Length heard in both coastal, and inland markets Sources note overarching muted activity Market sources reported that the European propylene market was long in the week ending May 6, while the spot market remained calm. Industry-settled propylene CP in May was Eur65-70/mt lower than Eur1,610-1,630/mt for the month, partly reflecting the $85-95/mt drop in April average naphtha pr...

Versalis closes Porto Mar...

Versalis closes Porto Marghera steam cracker US imports remain plentiful, increasing focus on Asia According to sources, demand was healthy during the week ending May 6, as domestic appetite did not slow down despite continuing fears of declining demand in a difficult macroeconomic environment. Although sources claimed that fears of destruction of downstream demand in polymer ma...

FOB Korea surges $48/mt o...

FOB Korea surges $48/mt on week Sinopec to start Hainan PX line in May Asian isomer-grade mixed xylene rose $45-50/mt week-on-week to $11,135-11,235/mt FOB Korea, and $48-52/mt $1,145-1,165mt CFR Taiwan May 6, amid tight supply. This was in spite of the $4-8/mt increase in the CFR China price at $1,050-1,080/mt. According to a Japanese trader, inventory levels of MX in Japan's ke...

Benzene demand set to ris...

Benzene demand set to rise through the month Prices rise on the week supported by energy European benzene markets closed on a calm note on May 6. There were wider bid-offer ranges after energy-spurred increases earlier in the week. On the day, the five-to-30-day forward delivery laycan was stable at $1,245-1,265/mt CIF AR. As the benzene trade was illiquid, the market rose $...

Exports rise 40% in March...

Exports rise 40% in March from Feb.5 PE producers announce May price increases Low-density polyethylene export prices remained unchanged despite several PE producers having announced May price increases in April. Spot prices were flat on a week-to-week basis at $1,698-1,720/mt (77 to 78 cents/lb on a FAS Houston Basis). The mid-April supplier pricing was discussed largely a...

Brazil sees stability wee...

Brazil sees stability week on week Mercosur sees higher prices for the end of April Sources said that the prices of Latin American polypropylene were higher than expected on the West Coast of South America. They were flat in Brazil, steady in the Mercosur region, higher for CFR Mercosur markers and stable in Brazil. Spot homo polypropylene prices along the West Coast of South Ame...

Buying appetite diminishe...

Buying appetite diminished amid holdups in packaging, exports North American PVC production in March hits a four-month high Based on stable pricing indicators, the US spot export polyvinylchloride prices were unchanged from the week of April 27. Based on deals at $1,720-1,730/mt FAS Houston prices were set at $1,740-$1,750/mt FAS Houston. An additional $20-$30/mt was added to acco...

Asia-to-North America fre...

Asia-to-North America freight rates remain high Alpek expects FID on Texas PET/PTA complex in May Spot US import polyethylene Terephthalate prices were unchanged last week at $2,282-$2,304/mt (103.5-104.5c/lb). DDP US West Coast was based on stable pricing indications. The domestic PET railcar price was stable at $2,414-2,436/mt (109.5-110.5c/lb). This is in addition to formula-ba...

US April propylene contra...

US April propylene contract price settles 1 cent lower on month North American polypropylene production rises 4% on month in March Sources said that the US export polypropylene resin prices firmed in the week of April 27, amid concerns about tightening supply due to lower run rates, key maintenances and tighter pricing. Spot homopolymer, polypropylene export pricing was up one ce...

ACN CP settles lower / Sp...

ACN CP settles lower Spot upstream markets close mixed Sources said that the US acrylonitrile-butadiene-styrene assessment fell for the second consecutive week. The drop in styrene monomer throughout the month continued. Spot ABS was valued at 180.5c/lb ($3,975-4,025/mt), a decrease of 1 cent ($22-26/mt). The 180 cents/lb delivered basis level was the same for ABS pricing. Ups...

Buyers limit purchases /...

Buyers limit purchases Logistical concerns persist The European acrylonitrile-butadiene-styrene market saw subdued demand in the week to April 27, with buyers avoiding the spot market following price increases earlier in the month. Due to concerns about price increases down the value chain, as well as worries about energy price volatility and upstream risks, contract market buyer...

GPPS cargo re-routed to S...

GPPS cargo re-routed to Southeast Asia Demand remains sluggish for COVID-19 controls Asian general-purpose polystyrene spot price or GPPS was down $20-25/mt over the week at $1480-1510/mt in China. It was also lower by $50-56/mt during the same period at $1600-1630/mt Southeast Asia on April 27, at $1,600-1,630/mt CFR Southeast Asia. The price of high-impact polystyrene (or HIPS) w...

May CP propane swap $85/m...

May CP propane swap $85/mt below April term CPs Term lifters recommend Saudi May propane CP at $860-$870/mt Month-one Saudi May CP Propanol Swaps was valued at 855-885/mt April 26, up to $10-14/mt. The May CP swap costs $85-95/mt less than the April term Contract price. Term lifters from Saudi Aramco's LPG cargoes recommended the May propane CPs. They ranged between $860-88...

Asia LPG recovers slightl...

Asia LPG recovers slightly but stays around two-month lows May FEI propane discount to MOPJ naphtha narrows by $18/mt Asia LPG prices rose slightly on April 26th but remained at about two-month lows. This was despite the $6-7/mt rise in June ICE Brent crude oil futures. This is due to soft market sentiment. Asia propane was $800-810/mt on April 26, up to $2-3/mt over the previou...

Methanol May be price-sta...

Methanol May be price-stable on the day at 111 cents/gal May contracts to settle 5-10 cents lower than April The US spot market for methanol remained weak on the day, as the spot was unaffected by a lack of market participation. May spot methanol was steady at 111c/gal FOB USG. A May methanol offer was heard at 114c/gal FOB ITC. For the past six days, methanol prices have rem...

Benzene prices set to ris...

Benzene prices set to rise after styrene turnarounds concludeStyrene offers for June are scarce amid a tight supply US May benzene rose 6 cents/gal to 404c/gal on April 26 in the face of higher crude futures. WTI crude futures increased by $3-4/b, to settle at $100-105/b on April 26, an increase of 3.21%. Benzene rose 1.51%. The ratio of benzene to crude was 1.67. This i...

Low ethylene demand / Cho...

Low ethylene demandChoctaw remains stable on the day US ethylene spot market prices were mixed. Mont Belvieu saw a slight increase in prices while Choctaw was steady. April Mont Belvieu Ethylene was traded twice at 27.375c/lb MtB pipe, contributing to the increase seen on the same day. Spot ethylene from April Mont Belvieu was traded at 27.375c/lb FD Mont Belvieu. This is a...

Gasoline-naphtha spread a...

Gasoline-naphtha spread at multi-year high Taif refinery resumes naphtha production CIF NWE naphtha cargo price rose 4.7% in the wake of strength in the wider oil complex. However, supply and demand fundamentals remained unchanged, sources stated on April 26. There were signs that demand could rise, with gasoline at an all-time high of 3.3% versus naphtha. This could increase gas...

Asia steam crackers may k...

Asia steam crackers may keep operations low in May Asia butadiene-naphtha spread above breakeven Despite the thin price discussion, Asian butadiene was still assessed unchanged on April 26th. Market participants maintained a wait-and-see attitude and closely monitored steam cracker operations starting in May. According to market sources, operations could remain low in May be...

Aramco continues to offer...

Aramco continues to offer end-May cargo Europe arbitrage is also open Asian MTBE rose $20-25/mt on April 26, at $1,115-1,125/mt FOB Singapore. MTBE prices increased in tandem with rising Brent crude oil and gasoline prices. The crack in 92RON gasoline grew day-on-day to 21.27, from 19.09., while the 92RON gasoline was more expensive at $120-130/b on April 26 from $120-130/b...

Buyers hold back as oil p...

Buyers hold back as oil price slips Shandong Haijiang Chemical to delay the restart of ACN plant Two consecutive days of decline in Asian propylene markets occurred on April 26. This was due to a growing supply and weak demand, which pushed down spot prices. Upstream, June ICE Brent crude oil futures fell 8 cents/b days to $101.78/b as of the 0830 GMT Asian closing on April 26.&n...

Little Middle Eastern mat...

Little Middle Eastern material offered to China MEGlobal nominates May ACP at $910/mt Prices of Asian nonethylene glycol fell on 26 April due to weak demand and lower upstream prices. The ICE June Brent crude oil futures dropped 8 cents per day to $101.78/b as of the 0830 GMT Asian market closing. ME Global has set its Asia Contract Price for MEG to $910-930/mt CFR Asia in M...

Ample May-loading Middle...

Ample May-loading Middle East cargoes Keen selling interest to Taiwan, South Korea Asian methanol prices were selling under pressure on April 26. The old stock was swelling in China's tanks and plenty of Middle East origin cargoes were offered to South Korea, Taiwan, and Taiwan. These Middle East origin cargoes had been replaced by Indian methanol which is cheaper. Mid-May, carg...

Limited discussions for f...

Limited discussions for fixed-priced cargoes May operating rates likely to average 80%-90% Spot Asian ethylene markets sentiment was low on April 26th, with many participants remaining cautious due to upstream naphtha volatility. According to market sources, discussions on fixed-priced cargoes were very limited. However, there was some discussion about cargoes that could be trad...

Stricter lockdowns in Chi...

Stricter lockdowns in China, oversupply from Libya resumption Buyers on the sidelines amid volatile crude prices In a mixed energy complex, Asian toluene prices remained stable on April 26. The ICE June Brent crude oils futures contract fell 8 cents per day to $100-130/b at 0830 GMT Asian close. Naphtha C+F Japan was $14-16/mt more during the same period, at $860-870/mt. The...

Normal butanol market tal...

Normal butanol market talked tight  Plasticizers are stable week-on-week   Due to continued market tightness, and a slowing automotive sector, US oxo-alcohols pricing was mixed for the week of April 28. Normal butanol export prices rose $25-28/mt to $2,475-2,485/mt FOB USG on April 28, amid discussions about pricing at $2.450-$2,500/mt, and following the rise in the CFR C...

AA at $1700/mt FOB USG |...

AA at $1700/mt FOB USG  VAM at $3000/mt FOB USG   The US Gulf Coast spot price of acetic acid and vinyl acetate monomer prices rose on April 28 due to a force majeure at LyondellBasell’s Acetic Acid plant. The price of acetic acid rose from $200-215/mt to $1,700-1,740/mt FOB USAG on the week. After the Market on Close, prices were reported as high as $1800-1840/mt FO...

At least 3,000 mt traded...

At least 3,000 mt traded on a day  Europe attracts plenty of imports  European methanol prices fell on April 28th, while more product was expected to arrive in Europe. The FOB Rotterdam 5-to-30-day spot price for methanol dropped Eur10-12/mt on April 28, following the decline in China's methanol price. On the spot, at least 3,000 mt was traded. Sources say that at le...

Chinese 2-EH price down Y...

Chinese 2-EH price down Yuan 300-400/mt on week  Nanjing Chengzhi to shut oxo-alcohol swing plant for turnaround May 28   A weaker domestic market and low demand caused the 2-ethyl hexanol CFR China marker to fall on 28 April. Due to the spreading of the coronavirus, east China's demand for plasticizer products was reported below. A major 2-EH producer from eastern C...

Heavy AA inventory in Chi...

Heavy AA inventory in China, India  Robust VAM downstream demand in China   AA: East China's domestic prices plunged to Yuan 600-700/mt (or $90-95/mt) on the week as China's COVID-19 policy of 'zero tolerance' curbed local demand. According to some reports, the AA stock in east China has risen to between 200,000 and 230,000 mt, despite some turnarounds at acetic acid fact...

EDC markets stable as May...

EDC markets stable as May negotiations largely end  VCM prices fall on PVC declines   In Asia, the EDC markets were quiet for the week ended April 28. There was little discussion due to falling VCM/PVC prices. Major producers claimed they had sold out of May-loading after having completed a tender and that they weren't sure when the next tender would be announced. This w...

Southeast Asia is quiet d...

Southeast Asia is quiet due to the Hari Raya festival  India ex-tank stable at Rupees 30-30.50/kg   After a pickup in trading activity earlier this week, discussions in the Asian market for methanol were muted on April 28. An original offer of a 10,000-mt parcel at $425-435/mt CFR Korea in June was rejected. It was then sold to a China-based buyer at a premium of 2.3% t...

China sells low-priced ny...

China sells low-priced nylon in Asia  China domestic price heard around Yuan 13,500/mt   According to market sources, demand for Asian caprolactam was low in the week ending April 28, both in Southeast Asia and in China and Taiwan. One source claimed that there have been unscheduled turnarounds at China's caprolactam plants due to low demand for downstream nylon and capr...

AA price holds firm / An...

AA price holds firm  Another 204,391 mt VAM available on a duty-free quota   AA: The European Acetic Acid market was largely unchanged from last week, April 28. The price of AA for product delivered to Northwest Europe was Eur1,780-1,800/mt, unchanged from April 21, "It seems that the EU market is becoming more tighter because there isn't enough material coming throug...

Buyers meet contractual o...

Buyers meet contractual obligations  2-EH spot prices dip  The European oxo alcohol markets saw very little activity during the week ending April 28. A 2-ethyl hexanol supplier stated that he feels the market is quieter than usual. European 2-EH spot prices down Eur25-28/mt on the week at Eur2,275-2,300/mt FD Northwest Europe, moving down within a producer's indicat...

Yuan weakens 2.5% on the...

Yuan weakens 2.5% on the week vs the US dollar Cargoes re-routed to Southeast Asia from China Asian acrylonitrile-butadiene-styrene (ABS) spot importing CFR China price was assessed lower $65-75/mt on the week at $1,845-1,885/mt CFR China and down $65-75/mt for the same period at $1,895-1,915/mt CFR Southeast Asia on April 27. Due to the recent pandemic-led restrictions placed on...

China's demand was impact...

China's demand was impacted by pandemic-related lockdown Southeast Asia takes a step back ahead of the holiday Due to lower demand in Asia, polypropylene prices dropped in the week ending April 27, and Chinese domestic prices dropped by yuan 250-290/mt during the week. CFR Fareast Asia price fell $20-24/mt during the reporting week. Prices in Southeast Asia fell $10-12/m...

Export demand for bottle...

Export demand for bottle grade PET chips remains stable Domestic demand weakens further amid ongoing lockdowns in China The weakening demand for finished goods caused prices to fall in the Asian PET market in the week ending 27. The ongoing Shanghai lockdown has had a negative impact on finished goods demand. Market participants claim that logistical and port problems have slowe...

Producers more flexible o...

Producers more flexible on GPPS pricingFeedstock constraints set to last into May Spot trading in general-purpose polystyrene was less active at the end of April as attention shifted upstream to feedstock markets and settlement of monthly contract price. A lower demand draw has made producers more open to price negotiations, with occasionally lower prices available for purchase, a...

Demand remains low / Pric...

Demand remains low Pricing expectations vary across the market In the week ending April 27, the European polypropylene markets saw low spot activity. Market participants expressed concern about the lack of demand. Spot market activity is still muted. Buyers are happy to hold onto the existing stock as a response to price increases in the past. According to a trader, "The mark...

US import delays continue...

US import delays continue to cause logistical backlogs C6 and metallocene material remains in short supply The European linear low-density polyethylene market was not open for trade in the week ending April 27, as regional holidays continued disrupting trade. Buyers were happy to wait for new May prices, with some expectation of price drops. LLDPE market activity was low as materi...

Limited market activity /...

Limited market activity Interest for Asian imports increasing The prices of virgin polyethylene Terephthalate chain in Northwest Europe fell marginally in the week ending April 27 due to a gloomier demand outlook, and improved supply. Market activity this week has been slow as market participants prefer to wait and see for clarity on the price and supply dynamics. A producer...

OX supply remains tight /...

OX supply remains tight OX ECP split settles up Eur295/mt on month European xylenes experienced mixed results from April 22 to 22, due to differences in sentiment and fundamentals across the value chain. Spot mixed xylenes are still readily available in Europe, but demand is slow. A trader stated that gasoline blenders are not interested in MX or toluene. On April 21, a...

H2 May-June backwardation...

H2 May-June backwardation structure steady Arbitrage opportunities are still being considered On April 26, the Asian benzene market gained momentum due to expectations of tightening in the region as a result of lower production. A bid for June FOB Korea cargo was made at $1,110-1,150/mt at 0800 GMT. An unknown seller booked the bid, which progressively increased to $1-2/mt.&...

Sanfangxiang shuts PTA un...

Sanfangxiang shuts PTA unit for maintenance 79,000 mt of PX derivatives cleared on SGX Asian paraxylene dropped $1-2/mt to $1,145-1,185/mt CFR Taiwan/China April 26 and to $1,125-1,1,45/mt FBO Korea April 26, erasing gains made in an earlier session. Traders continued to focus on June laycan during the Market on Close assessment process on April 26. Mercuria Singapore incre...

A bearish outlook on lowe...

A bearish outlook on lower downstream operations Styrene monomer margin remains negative The Asian spot styrene monomer price was flat at $1,280-1,300/mt CFR China. However, the domestic China price was up by Yuan 60-80/mt to Yuan 9,530-9,570/mt exp-tank. This equates to $1,260-1,285/mt based on import-parity on April 26. The spot styrene price in China fell to Yuan 9,520-9,540/m...

China's domestic market r...

China's domestic market remains weak Crude, PX dips After falling sharply, the previous day, Asian isomer-grade mixed xylene fell $1.50/mt on the day at $1,040-1,060/mt FOB Korea and $1,064.50/mt CFI Taiwan. This small price drop was in line with downstream paraxylene which fell $1-2/mt to $1,145-1,185/mt CFR Taiwan/China. Domestic prices in China remained much lower than i...

Interest in moving Asian...

Interest in moving Asian MTBE to Latin America Crude prices regain 3% from the previous day The spot MTBE flat price for the US Gulf Coast rose by 9.04 Cents/gal on April 26, in line with higher gasoline prices. On the same day, the MTBE premium to prompt month NYMEX RBOB remained constant. There was interest in the possibility of moving 10,000 mt Asian MTBBE to Latin Ameri...

Styrene May pricing uncle...

Styrene May pricing unclear: consumer Styrene-benzene spread narrows The European benzene market trade was very thin on April 26, despite the May contract settlement window. As April dates are no longer included in the assessment, the five- to thirty-day forward delivery laycan was increased by $0.50/mt CIFARA. Prices for May and June were flat. The European market had a...

Prices rise $20 on week /...

Prices rise $20 on week The market decline in Asia The US spot acrylonitrile rose for eight consecutive weeks, but market indications were limited. Spot acrylonitrile in the USA at $2,260-2,300/mt FOB USGC. This is $20-30 more than the previous week. According to a source, pricing had been discussed at $2,260-2,300/mt. Participants in the market expect prices for acrylonit...

Contractual demand resili...

Contractual demand resilient The global ACN market is heavily regionalized In the week ending April 26, spot prices on the European Acrylonitrile Market fell for the first month. This was despite wide buy/sell indications. CIF ARA ACN spot price dropped $20-24/mt by the end of the week to $2,200-2,50/mt on 26 April. Producers said that high feedstock costs were a key factor...

ACN RMB in China down Yua...

ACN RMB in China down Yuan 200/mt on week Shandong Haijiang to delay the restart of ACN plant to end-May As a result of prolonged lockdowns in many parts of China, the Asian acrylonitrile markets declined over the week to April 26. Northeast Asia's producer said that the weak demand for acrylonitrile is due to restrictions in movement in many regions. The domestic price of acryl...

Phenol demand continues t...

Phenol demand continues to stay weak in China, India Middle Eastern cargo heads to India As price negotiations for both acetone and Asian phenol continued to head south, it appeared that weakness had seeped into the Asian market. Although there was little discussion about CFR China basis phenol supply in the week to April 26, one local phenol producer mentioned selling indicatio...

Export phenol less attrac...

Export phenol less attractive with higher freight costs Industrial ethanol higher in week ACETONE: The US spot price of acetone rose $110-120/mt (5c/lb) to $1-2/mt (53.5c/lb), on April 26. On the week, domestic acetone contract assessments for truck and railcar remained at 58.5c/lb (1-2/mt). Because of steady demand and supply shortages, prices for acetone were discussed in the 53-5...

Tight stocks heard in ace...

Tight stocks heard in acetone, MEK, ETAC IPA availability increases due to imports PHENOXYL/ACETONE: The European spot price for acetone was Eur1,350-1,380/mt FDNWE on April 26. This is stable from April 19. It is within the range of Eur1,250-1.400/mt that a distributor has heard. However, it is higher than the second range of Eur1,250-1,300/mt, which would be due to reports of tight supply...

Olin declares force majeu...

Olin declares force majeure on chlorine, caustic soda, and other products Caustic soda supply has seen remaining tight Spot US export caustic soda prices were unchanged week-over-week on April 26 at $795 - $805/mt FOB USG. This was based upon stable pricing indicators. Sources claimed that both domestic and international market participants were still digesting Olin’s April 20 dec...

A few consumers request s...

A few consumers request spot butadiene Limited export demand heard According to sources, domestic butadiene demand in Europe grew during the week to 22 April. This was despite falling energy and naphtha prices. Market participants pointed out that energy and naphtha prices had fallen during the CP discussion on April 17. However, the rollover agreement was based on domestic supply-...

US maintenances could str...

US maintenances could stretch to June Asian contract prices nominated stable to lower The US spot export mono ethylene glycol prices held steady in the week of April 22nd, at last, traded levels after a long holiday weekend. In observance of Good Friday, US MEG was not assessed on April 15 but rather on April 14. The prices were evaluated on April 22 at 27.5-28.5c/lb FOB USGC....

Asia PX-naphtha spread wi...

Asia PX-naphtha spread widens Demand strong with peak bottling season US April paraxylene contracts settled for 66 cents/lb ($1,455-1,460/mt), April 22nd, market participants stated. This was 3 cents lower than March. Spot price movements for feedstocks MX have been slightly lower than usual in April, so monthly PX contracts are usually influenced by them. The weekly average s...

Benzene liquidity thin am...

Benzene liquidity thin amid weaker pricing Styrene turnarounds keep supply tight, dampen trade US April DDP-benzene declined by 1 cent/gal to 407c/gal on April 22, amid weaker WTI crude oil futures. WTI crude oil futures dropped by $1-2/bl, to settle at $102-105/bl. This is a decrease of 1.66%. The benzene to crude ratio was 1.67, an increase from 1.65 on April 21. Accord...

Styrene rises $55/mt for...

Styrene rises $55/mt for five-to-30 days forward laycan Premium to benzene increases by $50.75/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices increased to $50-60/mt as a producer purchased several cargoes for loading in February. Accord...

Demand in China, SE Asia...

Demand in China, SE Asia limited Thailand's PTT tender awarded The Asian butadiene market sentiment was mixed. On April 22, the CFR China butadiene prices edged up $5-6/mt. They will be assessed at $1-2/mt. Asian butadiene saw a $10-$70/mt drop from a week prior. The Asian butadiene market was bearish during the week of April 17. This was due to bearish demand from China, Taiwa...

China's domestic prices a...

China's domestic prices are lower than imports Buying expected to resume after Labor Day The Asian propylene market remained steady through April 22. This was because Chinese buyers were not willing to buy propylene from China if domestic cargoes were more affordable and plentiful. Upstream, June ICE Brent crude oil futures dropped $1-2/b daily to $105-110/b at 0830 GMT Asian close...

May Saudi CP propane swap...

May Saudi CP propane swap $78-80/mt below April term CPs VLGC rates on uptrend Month-one Saudi May CP Propane Swaps were valued at $860-880/mt April 21, up to $7-8/mt. The May CP swap was $76-80/mt lower than the April term Contract price, one week before Saudi Aramco was scheduled to announce May term CPs. The May-June CP Propane Swap Backwardation widened from $2-4/mt to $3...

Asia LPG recovers on more...

Asia LPG recovers on more buying interest, ignoring Brent dip Hartree sells to Glencore H2 May delivery propane Asia LPG prices recovered on April 21 after falling to one-week lows. This was despite the 22-25 cents/mt drop in June ICE Brent crude oil futures from the previous Asian close. As more buying interest emerged, LPG prices also rebounded.  Commodity Insights valued front...

Thin market participation...

Thin market participation Spot pricing remains flat The US spot market for methanol remained relatively quiet on April 21. Only one May methanol offering was reported by market participants. April spot methanol was stable at 110-112c/gal FOB USAG. This was due to the lack of new activity and market indications. May spot methanol remained steady at 110-115c/gal FOB USG. This...

More US imports from Sout...

More US imports from South Korea due for June arrival Styrene liquidity remains scarce in a tight supply US April DDP-benzene rose 3c/gal to 408c/gal on April 21 after an increase in WTI crude oil futures. WTI crude futures increased by $1.60/b to settle on April 21 at $100-120/b The benzene to crude ratio dropped to 1.65, from 1.66 on April 20, but is still lower than the an...

Mont Belvieu rises 0.5 ce...

Mont Belvieu rises 0.5 cents on the day Market participation remains thin Participation in the US ethylene spot market remained low, with very few indications reported by market participants on April 21. Spot prices were steady-to-slightly lower on the day as Mont Beliveau prices rose, while the Choctaw prices remained flat. Based on an April Choctaw/EPC exchange, April Mont...

Massive drop in Russian e...

Massive drop in Russian exports in April Arbitrage East-West remains hard to work Naphtha cargo prices in Northwest Europe remained flat on April 21 due to the long market and unchanged demand and supply fundamentals. CIF NWE naphtha freight prices rose $8-10/mt in April amid uncertainty in the physical marketplace due to Western sanctions against Russia. Market participants expe...

Bapco sells 50,000 mt nap...

Bapco sells 50,000 mt naphthas for June 14-17 loading India's BPCL sells 35,000 mt naphthas for April 26-27 loading While the Asian naphtha market could benefit from a wider reforming spread, trading sentiment remained low due to lower steam cracker operating rates as well as fresh supply from FOB tenders from India and the Middle East regions. In early April 21, trading in the A...

Styrene rises $55-58/mt f...

Styrene rises $55-58/mt for five-to-30 days forward laycan Premium to benzene increases by $50-52/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50-52/mt as a producer purchased several cargoes for loading in February. Accordin...

Domestic China price rise...

Domestic China price rises Yuan 300-340/mt South Korea's cargo trades to Japan Asian butadiene prices were mixed on April 21. The CFR China/Northeast Asia markers fell $20-$40/mt while the FOB Korean price remained stable. Yuan 300-340/mt rose on April 21 to Yuan 10,000/mt. This is equivalent to $1,350-1,375/mt based on import parity and remains below the CFR China price at $1,370...

Malaysia to fulfill late...

Malaysia to fulfill late May-early June demand domestically India's ethanol mandate may lead to MTBE export supply Asian MTBE was up 12-16/mt on the day at $1,140-1,160/mt FOB Singapore 21 April. Sources in Asia say that MTBE supply is starting to increase. Demand is becoming more moderate, and supply becomes more robust. One source said that it would be difficult to ship car...

Brazil sees prices stable...

Brazil sees prices stable on the week Mercosur sees higher prices for the end of April   Sources said that Latin American polypropylene prices were higher than expected on the West Coast of South America. They were flat in Brazil, but stable or higher in the Mercosur region, which allows for free-on truck exports from Brazil and CFR markers. Spot homo polypropylene prices alon...

Logistics logjams continu...

Logistics logjams continue to stymie exports March North American PVC production 34% higher on year   Spot export polyvinylchloride prices in the USA were down $10-15/mt during the week of April 20. This is due to lower-value deals. The prices were set at $1,740-$1,750/mt FAS Houston. The assessment includes deals at $1,720-1,755/mt FAS, plus an additional $20-30/m...

Logistics strains continu...

Logistics strains continuing Market sees high demand amid low inventories   Based on stable pricing indicators, US import polyethylene Terephthalate prices held steady during the week of April 20. Prices for import PET were $2,282-$2,304/mt (103.5-104.5c/lb). DDP US West Coast held at the lower end market discussions at 104-106c/lb, with corroborated talk about value at 103-...

Current levels difficult...

Current levels difficult to export amid competitive global pricingDomestic production falls 6% month-on-month  Sources said that the US export homopolymer-injection-grade polypropylene price held steady over the week. Current levels are not competitive with key markets due to lower global prices. Spot homopolymer-grade polypropylene export prices were stable at $2,359 to$2,3...

Styrene monomer sheds $55...

Styrene monomer sheds $55 for the period Butadiene and ACN climb during the week   Sources said that the US acrylonitrile-butadiene-styrene assessment fell for the first month because feedstock styrene dropped for the period. Spot ABS was valued at 181.5 cents/lb ($4,000-4,050/mt), a decrease of 2 cents ($42-46/mt). The 180 cents/lb delivered basis level was maintained for...

Balanced supply-demand /...

Balanced supply-demand Europe watches developments in China   The European acrylonitrile-butadiene-styrene spot market continued to see weak demand in the week to April 20, as the triple-digit price increases seen in April to date continued to weigh on market activity. The Easter holiday break reduced the number of workdays, adding to the weaker demand. The main causes of...

Recovering logistics and...

Recovering logistics and production leads to bullish sentiment Operation rate increases gradually following de-stocking   The Asian general-purpose polystyrene spot price (GPPS), was unchanged at $1500-1535/mt China, and flat for that period at $1650-1680/mt Southeast Asia on April 20. Meanwhile, the high-impact plastic styrene price (HIPS), was flat at $1540-1575/mt in China and...

Malaysia's Feb naphtha ou...

Malaysia's Feb naphtha output rises 2.4% in the month - Japan M1-M2 time spread falls 20% on the day to month-to-date low   The Asian naphtha market sentiment weakened in the early trading session on April 20. Brokers pegged the front-month May-June Mean Japanese naphtha inter month Swap at $6-8/mt. This was down $2-3/mt compared to the Asian close on April 19, according to Commodi...

Styrene rises $55-60/mt f...

Styrene rises $55-60/mt for five-to-30 days forward laycan Premium to benzene increases by $50-55/mt on the week   At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50-55/mt as a producer purchased several cargoes for loading in February. A...

Demand for import cargoes...

Demand for import cargoes weak in China Thailand's PTT issues butadiene sell tender   On April 20, Asian butadiene was rated stable day by day. The volatile upstream market kept Asian butadiene market participants on a wait-and-see stance. According to data from Commodity Insights, June ICE Brent futures dropped $4.26/barrel on April 20 to $100-120/b. The data showe...

Crude oil futures fall by...

Crude oil futures fall by $4.56/b Operating rates are low due to high production cost   Market sources claimed that Asian nonethylene glycol prices rose due to tight supply despite falling crude oil. According to market observers, 67% of MEG units based on naphtha in China were operating, while 55% were reported for coal-based MEG units. Producers claimed that naphtha-b...

Asian MMA/PMMA: China dem...

Asian MMA/PMMA: China demand weakens amid lockdowns Tight supply still leading MMA higher PMMA prices stable to higherAsian methyl methacrylate was up week-on-week with China increasing $16-20/mt at $18,825-18,875/mt April 13 and CFR SEA rising $50-55/mt to $2,050-2,080/mt. Due to the difficulties in logistics in East China, China's demand was low. "Demand is very low in China. ...

Asian Recycled PET: Price...

Asian Recycled PET: Prices steady despite upstream fluctuations Cost pressures remain for high-grade bales Some suppliers are at full capacityAsian recycled polyethylene Terephthalate prices remained stable in the week ending April 13, despite the volatility of crude oil futures. High virgin PET prices continue to support demand. High feedstock prices continue to be a problem for the marke...

Asian PET: Prices fall on...

Asian PET: Prices fall on weak demand Growing inventories force producers to cut operating rates Demand is unlikely to improve in the near term amid lockdowns in ChinaAs logistical problems in China continued to reduce demand, prices in Asian PET markets dropped. This was especially true for domestic Chinese markets. Sellers noticed a decrease in inquiries from Asia, as most buyers had bee...

Asian ABS: Stable amid li...

Asian ABS: Stable amid limited discussions City lockdowns in China lower the demandUncertain outlook on covid and upstream pricesAsian Acrylonitrile-butadiene-styrene (ABS) spot importing CFR China price was assessed stable on the week at $1,910-1,930/mt CFR China and unchanged for the same period at $1,960-1,980/mt CFR Southeast Asia on April 13. Spot discussions in Asia ABS were shrinki...

Asian polystyrene: Stable...

Asian polystyrene: Stable to $10/mt lower amid sluggish demand Logistic constraints lower the production rate in China Relatively lower domestic prices compared to importAsian general-purpose polystyrene spot price fell by $10-12/mt last week to $1,500-1,525/mt in China. It was also lowered by $112/mt for that period to $1.650-1.750/mt in Southeast Asia on April 13. The high-impact polystyrene p...

Asian PP: Pandemic caps C...

Asian PP: Pandemic caps Chinese demand; SEA lower on light trading Sentiment bearish on lockdowns in China Trading in Southeast Asia is slow amid Songkran, RamadanPandemic-related concerns remained front and center in the Asian polypropylene marketplace on April 13. East China caused domestic cargoes to fall from Yuan 150-200/mt during the week, to Yuan 8,650-8,850/mt. China's domestic trad...

Market talked firmer on w...

Market talked firmer on weekFeedstocks all move higher Sources said that the US acrylonitrile-butadiene-styrene assessment continued to be firm at the beginning of the second quarter of the year. This was due to higher pricing and strengthening of feedstock monomer. Spot ABS was valued at 174. 5 cents/lb (3,845-3,875/mt), an 11-cent increase ($245-260/mt). The pricing was d...

Limited bids in the marke...

Limited bids in the marketSouth China's downstream operations recovering Asia's spot acrylonitrile-butadiene-styrene CFR China was assessed stable on the week at $1,910-1,935/mt and unchanged at $1,960-1,985/mt CFR Southeast Asia on April 6. Despite no firm import demand, Asian ABS prices are still being discussed in the market. However, sellers are increasing their offers because...

Limited price effect from...

Limited price effect from preholiday buying in ChinaLower spot trading in Vietnam on cheaper local stocksIn the week ending April 6, Asian polypropylene markets continued to be bearish. East China caused domestic cargoes to fall by Yuan 150-250/mt compared with Yuan 8,800-9,000/mt the week before. The high demand in China continued to hinder inventory levels. Crude oil prices trended lo...

Weak demand concerns impa...

Weak demand concerns impact sentimentUS material delayed In the week leading up to April 6, fresh April offers were made in Europe's linear low-density polyethylene market. However, buyers were cautious due to weak demand. According to market participants, the April ethylene industry-settled monthly contract price was Eur230-240/mt at Eur1,665-1,685/mt on March 31. This is a recor...

Energy, freight, and mono...

Energy, freight, and monomer costs support pricesDemand seasonally healthyPrices of European virgin polyethylene Terephthalate rose in the week ending April 6, owing to higher costs and seasonally healthy buying interests. "People are preparing for summer. A source stated that demand is driven by this. According to a converter, higher energy, monomer and logistical costs are le...

Domestic 2-EH and NBA sta...

Domestic 2-EH and NBA stabilize after the hikePlasticizers mixed on market fundamentals The US oxo-alcohols price was stable week-on-week from April 7, as domestic and export market activity stabilized. Normal butanol export prices were flat at $2.315/mt FOB USG, following the unchanged marker from the CFR China assessment. Domestic NBA was also unchanged at 148. ...

Producers heard to have n...

Producers heard to have no volume left for export Stronger demand from the tire segment Although prices rose in Europe's butadiene market, producers are now bound by domestic contracts. This has reduced export opportunities in the short term. The Steam Cracker Outage at Shell Moerdijk helped keep supplies tight, increasing demand in the C4 Olefins Market. Market participants point...

ExxonMobil/SABIC unit ram...

ExxonMobil/SABIC unit ramp-up blunts supply limits from turnarounds April turnaorunds on tap The spot US export nonethylene glycol price was down 2.5 cents/lb from the week April 1. This is a result of a deal at 29 cents/lb FOB USG. Prices were at 28.5-29.5c FOB. According to market sources, supply is increasing despite several turnarounds. More is coming from the joint ventu...

North American supply rem...

North American supply remains tight Crude prices still elevated despite a drop below $100/b In spite of strong demand and higher upstream prices, paraxylene supply in North America remains tight for the week ending April 1. Spot prices for paraxylene declined by $40-45/mt in the week ended April 1, following lower Asia PX spot and US MX prices. Sources said that there is stil...

China's Zhejiang PC to sh...

China's Zhejiang PC to shut No 2 butadiene unit Asia butadiene-naphtha spread reaches 7-month high Asian butadiene was rated stable at $20-25/mt, which is a little less than the previous week. The CFR China price was set at $1,470-1,490/mt on April 1. Due to lower steam cracker operations and limited spot availability, discussions on spot prices were restricted throughout the week...

CFR Taiwan/China PX price...

CFR Taiwan/China PX price falls $66.33/mt on week May Ice Brent Futures fall by $12.7/b on week China's Purified Terephthalic Acid CFR price dropped $15-20/mt on week April 1 due to falling crude oil and upstream paraxylene prices. May ICE Brent futures dropped $12-15/b week, to $103.64/b at 4:30 PM Singapore time (0830 GMT), April 1. This is after the US released 1 million b/...

A wide gap between China-...

A wide gap between China-based sellers, buyers Fujian Meide restarts 660,000 mt/year PDH plant Apr 1 China's propylene market dropped $25-30/mt in the week of April 1. This was due to the spread of COVID-19, an eastern Chinese disease, and weak PP fundamentals that weakened demand. Demand was also affected by softening crude oil industry. At $100-110/b, the ICE June Brent cru...

High costs, rather than d...

High costs, rather than demand, drives MEG prices Downstream operating rates cut Sources said that Asian nonethylene glycol prices were slightly higher than in previous sessions due to the high crude oil prices. Sources said that although the ICE May Brent crude oil futures dropped $5-6/b to $100-110/b at the Asian close on April 1, margins were still negative and MEG prices had n...

Apr steam cracker rates t...

Apr steam cracker rates to fall to 70%-80% in Asia Fewer discussions for US-origin cargo In the week leading up to April 1, the selling sentiment in Asian ethylene markets was mostly bullish. Participants cited tight supply and operating rate cuts at steam crackers in the region as reasons for the strong selling sentiment. According to market sources, April's supply is expected to...

FOB Korea down $10/mt | S...

FOB Korea down $10/mt Styrene margins are still negative Due to a slowdown in demand, trade activity in the Asian market for benzene was muted at the end of the week. Although May-loading parcels offered strong prices, a final bid of $1,125-1,145/mt was received. FOB Korea benzene physical was $1,125-1,140/mt on April 1, down $10-14/mt in comparison to the previous session.&...

Oil tumbles on US SBR rel...

Oil tumbles on US SBR release South Korean producer mulls reducing PX operating rate Asian paraxylene fell $15-20/mt to $1,170-1,185/mt CFR Taiwan/China on April 1, as oil prices dropped $5-6/b on day to $100-10/5b. Oil prices have fallen week-on-week, largely due to demand concerns. However, oil prices fell from $5-6/b day on day to $100-110/b. US President Joe Biden announced a...

Potential supply crunch w...

Potential supply crunch weighs on market Asian imports act as a key supply source With stable sentiment from sources and quiet trading conditions, the European glycols spot price was steady for the week. Despite competing market fundamental changes, which some sources suggest could eventually upset the current market balance, stable sentiment prevailed. A trader stated that...

Upstream pressures contin...

Upstream pressures continue to provoke uncertainty Shell Moerdijk cracker outage an issue for market participants Participants in the European propylene markets continued to worry about upstream issues in the week ending April 1. The settled April contract price soared, putting more pressure on the upstream. Eur1,675-1,695/mt was the April European industry-settled price for prop...

April contract up Eur230/...

April contract up Eur230/mt from March level Imports at the coast but the tight inland market The week ending April 1 was the most important week in European ethylene market history. This was because contract price negotiations were the main focus of the market. The April European industry-settled Ethylene contract price was Eur1,665-1,685/mt FDNWE. This is an increase of Eur230-2...

FOB Korea assessed down a...

FOB Korea assessed down at $1,061/mt Brent crude futures are down $5.50/b from the last close Isomer MX was down $45-50/mt to $1,060-1,075/mt FOB Korea. It was down $45-50/mt to $1,070-1,090/mt CFR Taiwan and down $55-60/mt to $1,060-1,075/mt CFR China. The Chinese pandemic was putting a strain on gasoline and diesel demand. According to market sources, this is likely to incre...

Styrene supplies heard to...

Styrene supplies heard to be tightening Benzene contract price settled at $1,257/mt for April Styrene prices experienced a second significant increase on April 1, as traders began to worry about the sustainability of production. The week saw a significant increase in trading, with the forward loading laycan for five to 30 days at $2,330-2,350/mt CIF AR on April 1, an increase of...

Mont Belvieu prices uncha...

Mont Belvieu prices unchanged  Choctaw prices remain flat with the contango market structure   US ethylene spot market activity increased as more bids and offers were reported on March 31 by market participants. Spot ethylene prices remained unchanged due to low bids and high offers. April Mont Belvieu's ethylene was flat at 24.875c/lb FD Mont Belvieu. This price wa...

Tightening supply in Nort...

Tightening supply in Northwest Europe as Russian oil avoided  Blending demand falls as flat prices remain elevated   CIF NWE naphtha cargo price fell 3.5% as the wider crude oil complex declined while supply fundamentals -- tightening supply and weakening demand amid concerns about replacements for Russian barriques -- were little altered, sources reported on March 31. T...

Styrene rises $55-60/mt f...

Styrene rises $55-60/mt for five-to-30 days forward laycan  Premium to benzene increases by $50.75/mt on the week   At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices increased to $50-60/mt as a producer purchased several cargoes to load during Febru...

End-users on wait-and-see...

End-users on wait-and-see  Asia butadiene-naphtha spread continues to widen   Day 31 March was a stable day for Asian butadiene. The market participants decided to wait and see amid volatile western crude oil futures. Spot price discussions were very limited. On the day that $105-125/b was assessed, May ICE Brent futures fell $2-3/b. End-users of butadiene were...

Crude sinks amid potentia...

Crude sinks amid potential release of US SPR, OPEC+ meeting  Overall sentiment remains buoyed on the upcoming peak demand season   Asian MTBE dropped $15-20/mt on the day to $1,105-1,125/mt FOB Singapore, March 31, in line with weaker gasoline prices and lower crude oil markets. The 92 RON gasoline fell 1.58% to $120-130/b. Meanwhile, the front-month ICE Brent crude oil...

The wider price gap betwe...

The wider price gap between sellers and buyers  East China propylene down Yuan 50-60/mt   China's propylene market fell on 31 March amid weak fundamentals and thin buying. Demand was also affected by a drop in crude oil prices. The ICE May Brent crude oil futures fell $2-3/b from their previous session to $105-115/b at the Asian close on March 31. The price gap b...

Shipments eyed for the US...

Shipments eyed for the US for April  April benzene-naphtha spread widens   Due to softer Northeast Asia buying interest, activity in the Asian market for benzene remained low on March 31. A May-loading cargo was offered at $1,135-1,155/mt FOB Korea in the mid-morning. No trades were made throughout the day. FOB Korea benzene price fell from $10-15/mt per day to $1,135-...

Market quiet on oil volat...

Market quiet on oil volatility  April ACP fails to settle due to volatile oil   Asian paraxylene was down $15-20/mt at $1,170-1,190/mt CFR Taiwan/China on March 31. Although the May ICE Brent crude oil futures were volatile on March 31, the bearish trend in global oil markets was also extended. Market sources claim that PX prices have been closely following oil price...

Oil drops $2.87/b on day...

Oil drops $2.87/b on day  Firm ethylene price on tight supply   Asian spot styrene monomer prices fell $15-20/mt to $1,330-1,360/mt CFR China on March 31, while the China domestic price was down from Yuan 130-160/mt to Yuan 9,675-9,700/mt Ex-tank. This equates to $1,320-1,350/mt if you use import-parity. In the morning trading session, China's domestic market prices trend...

The second producer heard...

The second producer heard to have reduced run rates  Benzene contract settlement points upward   On March 31, the European styrene markets surged as there was talk about further production problems on the continent. In line with an April trade, the five- to 30-day forward delivery laycan increased $250-260/mt to $2,150-2,200/mt FOB AR. This was in response to trading...

Upstream propylene CP set...

Upstream propylene CP settles upon the month  Plasticizer strengthens supplier pricing   US oxo alcohols prices were flat to higher week over week on March 31, as market participants talked about export plasticizer supplier pricing increasing and upstream markets raised pricing. Normal butanol export prices were flat at $2,315-2,345/mt FOB USG. This was consistent with th...

Turkstat releases Februar...

Turkstat releases February imports, exports data  May prices steady   European methanol spot prices fell on March 31 for prompt deliveries, while May prices remained steady. The FOB Rotterdam 5- to 30-day spot price for methanol fell Eur3-4/mt, while May prices were steady at Eur375-395/mt. According to sources, Spot market trading fell for the second consecutive day...

Nan Ya Plastics to run 2-...

Nan Ya Plastics to run 2-EH unit at full rate Apr 3  Hanwha Solutions shuts oxo alcohols plant   As COVID-19 spread in eastern China, the demand for 2-ethyl hexanol CFR China markers fell on March 31, A domestic producer of 2-EH in eastern China stated that the spreading virus has caused a drop in demand for plasticizer products. "Too bad market conditions for DOP.&nb...

Mixed outlook for Asian A...

Mixed outlook for Asian AA  Bearish VAM sentiment in Indonesia   AA: In the week ending March 31, the outlook for Asia's acetic acid market was mixed. Sources were divided on the supply of export cargoes. Prices in Jiangsu rose by Yuan 250-300/mt to $5,300-5,350/mt, or $730-750/mt based on import parity. Market sources cited technical problems at two AA producers as the...

Producers blame the high...

Producers blame the high ammonia price  Inquiries from far-out Europe set opportunities   As strong feedstock prices pointing towards ammonia weighed down on producers' margins, the Asian caprolactam markets saw a dramatic increase in prices. Participants reported rising ammonia prices in the Russia-Ukraine conflict. A few industry sources confirmed that ammonia pric...

Turkstat releases trade d...

Turkstat releases trade data  VAM: 240,069 mt available in duty-free quota   AA: After the earlier jump between March and April deliveries, spot prices in Europe's acetic acid market were mostly stable week-on-week. For products delivered in Northwest Europe, AA was valued at Eur1,750-1,770/mt on 31 March. A trader stated that the AA market was volatile and dependent...

Demand stable / High inp...

Demand stable High input costs lead to concerns about downstream demand   Despite concerns from producers about logistical, feedstock, and energy issues, European 2-EH was stable during the week to March 31, European 2-EH remained stable at Eur2,400-2,430/mt. FD Northwest Europe and Eur2,000-2,020/mt. FOB Rotterdam. This was due to volatile upstream costs and market senti...

At least 8,000 mt spot tr...

At least 8,000 mt spot tradesRotterdam stocks full European methanol saw a 7-day gain in April, ending a losing streak that began in March despite strong selling activity.  Commodity Insights evaluated the FOB Rotterdam 5- to the 30-day spot price of methanol. It was up to 25 Eurocents per day at Eur352. 75/mt on April 7, with no price changes for April and May deliveries.&nb...

South Korea's Hanwha Solu...

South Korea's Hanwha Solutions to shut the oxo-alcohol plant on April 17 for a planned turnaroundTaiwan's Nan Ya Plastics to restart the 2-EH unit by April 8As a result of weak downstream demand and tighter spot supply, the 2-ethyl hexanol CFR China marker was stable on April 7.  Commodity Insights earlier reported that east China's demand for pla...

AA tanks capacity full at...

AA tanks capacity full at west coast India portsIndian traders plan to export AA to EuropeThin discussions for VAM AA: There were no discussions in the Asian Acetic Acid market on April 7. According to trade sources, India was China's largest exporter of AA. It had tanks at the ports on India's west coast. Indian traders tried to sell acetic acid spots in Europe where th...

Some VCM deals seen in SE...

Some VCM deals seen in SE AsiaChinese demand weak on sluggish PVC marketsThe Asian EDC and VCM markets were quiet during the week of April 7, as key players in Taiwan and China were on holiday April 5-6 because of the Qingming festival. Market participants waited for key downstream PVC May-loading deals to be made before they could make any further decisions. Negotiations for May have no...

More Russian methanol exp...

More Russian methanol expected in IndiaPilot e-methanol plant in Singapore likely, pending study The Shanghai lockdowns are still ongoing. Despite this, coastal methanol prices fell on April 7. This was due to low demand and little trading activity. However, the slide was mitigated by tight spot availability for non-sanctioned cargoes of methanol arriving in May. At 400-$405/...

AA: Good demand from down...

AA: Good demand from downstream applicationsVAM: 233,500 mt available on duty-free quotaAA: The European acetic acid spot market prices remained stable for the week of April 7. Spot prices for AA were unchanged from March 31 at Eur1,750/mt. According to a trader, there was strong demand from end-users of AA and buyers were requesting regular quantities. A producer stat...

A tight market provokes u...

A tight market provokes uncertaintyProducers continue to note the logistical difficulty Market participants reported that there was uncertainty in European oxo-alcohol markets during the week ending April 7. High propylene contract prices and logistical issues caused by high propylene contracts were also causing problems for producers. S&P Global Commodity Insi...

Rising ammonia costs to f...

Rising ammonia costs to further increase pricing Demand remains firm The US spot acrylonitrile price continued to rise over the week, as US demand remains strong. Commodity Insights rated US spot acrylonitrile as $2,230-2,250/mt FOB USGC basis April 12, an increase of $120-130 over the previous week. According to a source, pricing had been discussed at $2,230-2,250/mt and was...

Gap between buyer and sel...

Gap between buyer and seller price expectations Demand steady despite continuing uncertainty Low spot activity continued to plague the European acrylonitrile markets, despite wide uncertainty.  Commodity Insights evaluated the CIF-ARA ACN spot at $2,200-2,230/mt on April 12. Market uncertainty remained the dominant factor, reflecting recent trends across the propylene chain.&n...

Rising ammonia costs push...

Rising ammonia costs push up prices Demand remains tepid The Asian acrylonitrile markets were flat to higher in the week ending April 12. This was due to an increase in feedstock ammonia costs lending support to the Asian acrylonitrile industry. According to Commodity Insights data, CFR Far East Asia had an Acrylonitrile CFR Far East Asia assessment of $5-6/mt more. CFR South Asia...

Increasing capacities dam...

Increasing capacities dampened price uptick Demand is slower in India; China, Southeast Asia weaken further The week ended April 12th saw trade activity in Asian phenol markets and acetone markets slow to steady. New capacities were mostly emerging, but there was also ongoing concern about coronavirus outbreaks in the region. According to one source, India saw a decrease in phenol...

Industrial ethanol prices...

Industrial ethanol prices rise on the week IPA, ETAC, BUTAC stable on week ACETONE: The US spot price of acetone increased by $125-135/mt (5.67c/lb) to $1-2/mt (46.6c/lb), on April 12. On the week, domestic acetone contract assessments for truck and railcar were steady at 58.5c/lb (1.290/mt). As import volumes at higher prices were re-surfaced, prices rose. Since the Russia-Ukr...

ETAC unchanged on week am...

ETAC unchanged on week amid stability in the market MEK prices jump amid tight supply ACETONE/PHENOL - Commodity Insights rated the FD Northwest Europe acetone spot prices at Eur1,350/mt on April 12. This price was unchanged from the previous week. There is more evidence around this price, including value indications that were heard in a Eur1,200 to Eur1,400/mt price range derived from supplie...

A slowdown in European ca...

A slowdown in European caustic exports prompted more interest in US volumes US caustic soda exports in Jan-Feb nearly 12% lower on year: ITC Spot US export caustic soda prices remained unchanged from week 12 April at $795-$805/dmt FOB USG. This was based on stable pricing indicators and continued tight supply. According to company sources, Olin was finishing up turnarounds at its M...

CFR Taiwan/China paraxyle...

CFR Taiwan/China paraxylene price benchmark fell $8.83/mt on week June Ice Brent Futures fall by $1.58/b on week The price of purified terephthalic Acid CFR China fell $7-10/mt on week April 22 due to falling crude and paraxylene prices. June ICE Brent futures dropped $1-2/b week at $105-110/b at 4:30 pm Singapore time (0830 GMT), April 22. The CFR Taiwan/China Paraxylene price...

Shell nominates ACP at $9...

Shell nominates ACP at $900/mtIndia prices at $35-$60/mt premium to CFR China Prices of nonethylene glycol fell in Northeast Asia on April 22 due to weak demand and a decrease upstream. The ICE June Brent crude oil futures fell $1-2/b on the day to $105-110/b at 0830 GMT Asian market closing on April 22. According to a source close, Shell has nominated the Asia contract price...

Trade activity is hampere...

Trade activity is hampered by a wide buy-sell gap Higher coal-based supply weighs on ethylene-based PVC Asian ethylene spot prices fell $10-15/mt on April 22 due to a lackluster buying environment and weak downstream China sectors. According to market sources, trade discussions were hindered by buyers seeking prices below $1,300-1,320/mt CFR Northeast Asia, while sellers preferred...

Local supply seen set to...

Local supply seen set to tighten in China China's benzene imports rise 39.9% in March Asian paraxylene reversed gains made in the early weeks of April 18 and ended the trade session lower at $16-20/mt and $8-10/mt, respectively, at $1,190-1,210/mt CFR Taiwan/China, and $1,170-1,190/mt FOB Korea on April 22. During the Market on Close process April 22, Yisheng purchased an Asia-orig...

PX-nap spread averages $2...

PX-nap spread averages $284.116/mt this week China's PX imports jump to 1.15 mil mt in March Asian paraxylene reversed gains made in the early weeks of April 18 and ended the trade session lower at $15-18/mt and $8-10/mt, respectively, at $1,190-1,210/mt CFR Taiwan/China, and $1,170-1,190/mt FOB Korea on April 22. During the Market on Close process April 22, Yusheng purchased an As...

MEG truck premiums over b...

MEG truck premiums over barges narrow DEG prices ease on weaker demand Sources say that the differential between European nonethylene glycol truck prices and barge prices decreased on April 22. This was due to a stronger interest in barges, driven by a steep rise in FCA logistics costs. Barge prices rose above Eur800-810/mt CIF ARA according to traders, and some traded levels reach...

Steady demand from the co...

Steady demand from the contractual market Market participants start to look to May Low spot activity continued in Europe's propylene market in the week ending April 22. Participants stated that gas and naphtha prices played a crucial role in determining the May contract price settlement. Market sources maintained a cautious approach, despite low spot activity in the week up to Apri...

Shell Moerdijk steam crac...

Shell Moerdijk steam cracker restarts Traders watch US export market as trade to Asia rises European ethylene market was largely quiet in the week to April 22, as buyers were happy to wait for May, while supply increased following the April 14 restart of Shell Moerdijk steam crackered. Early April saw tighter supply due to outages at Shell’s 910,000 mt/year Moerdijk steam crac...

MX-naphtha spread widens...

MX-naphtha spread widens further to $223.88/mt China MX inventory jumps 59% Asian isomer-grade mixed xylene rose by $23-26/mt to $1,120-1,140/mt FOB Korea, $16-20/mt to $1,125-1,135/mt CFR Taiwan, and dropped $4-5/mt to $1,075-1,095/mt CFR China, April 22. Due to recent shortages in the region, May cargoes supply appeared limited. According to a spokesperson for Taiwan's CPC,...

High styrene prices suppo...

High styrene prices support thin benzene activity Styrene supply relief is expected in May from Asia imports As a result of the high prices in the derivative styrene markets, the European benzene market surged through the week to April 22, with downstream support being felt. Based on an existing contango structure, the benzene five- to 30-day forward delivery laycan was $1,215-1,23...

Asian Recycled HDPE: Pric...

Asian Recycled HDPE: Prices stay stable amid thin trade ■ The price gap between mandated use, economics ■ Mandated use is higher priced than virgin-gradeDespite thin trade, Asian recycled high-density polyethylene natural film pellets were stable on April 13. There was a gap in prices between users who blended only when it was economically feasible and those that had to use mandated...

Asia HDPE: Stable to slig...

Asia HDPE: Stable to slightly higher on firmer crude ■ Crude rises $4.56/b ■ Weak demand in China due to lockdownsIn Asia, high-density Polyethylene prices were mixed during the week ending April 13, despite weak demand and firm crude oil. The June ICE Brent crude oil futures increased $4-5/b to $105-110/b by 4:30 PM Singapore time (0830 GMT on April 13). Sources said that prolonged...

Asia LLDPE: Stable to hig...

Asia LLDPE: Stable to higher due to cost-push ■ Crude rises to $4.56/b ■ Mixed outlook due to overcapacityPrices of Asian linear low-density polyethylene were assessed as stable to slightly higher due to tight supply and rising prices in the wake of high crude oil prices. June ICE Brent crude futures rose by $4-5/b to $105-110/b at 4:45 pm Singapore time (0830 GMT) on April 13. Chin...

Asia recycled LDPE: Stabl...

Asia recycled LDPE: Stable amid thin trade ■Undersupplied recycled HDPE film dampens trade ■Country-specific waste export bans affecting recyclers to obtain fresh scrapPrices of Asian recycled low-density polyethylene were stable on April 13, despite few trades and news about an import ban for some recycled plastic bales in certain countries in the region. Sources said that scrap shortage...

Asia LDPE: Prices remain...

Asia LDPE: Prices remain stable amid thin trade ■ South Asia's demand stays stable amid a lack of offers ■ Downstream demand is weak in the northeast, Southeast AsiaPrices of Asian low-density plastic ethylene were mixed on April 13, as crude oil prices remained above $100-110/b and demand continued to be slow. The ICE June Brent crude oil futures increased $4-5/b to $105-110/b by 4:30 P...

Asian PVC: Prices stable...

Asian PVC: Prices stable ahead of May offers■ May offers may be rolled over ■ Chinese cargoes flow to India, Southeast AsiaAsian polyvinylchloride was stable during the week ending April 13th, with spot activity being lower than May offers. Sources claim that May offers could be rolled over due to concerns about China's demand. April offers from key producers increased by $80-$100/mt...

Soften restrictions in Ch...

Soften restrictions in China lead to bullish sentiment High inventory results in a lower operation rate   Asian Acrylonitrile-butadiene-styrene (ABS) spot importing CFR China price was assessed stable on the week at $1,910-1,930/mt CFR China and unchanged for the same period at $1,960-1,985/mt CFR Southeast Asia April 20. Due to slow demand from China, the Asian ABS spot dis...

China's domestic prices a...

China's domestic prices are buoyed by manufacturing resumption Trading thin in South Asia   The sentiment in the Asian polypropylene markets remained bearish for the week ending April 20th, although domestic cargo prices for East China prompt rose Yuan 200-240/mt in the same time period to Yuan 8,850-9,000/mt. China's market opened this week cautiously optimistic after news t...

Polyester operating rates...

Polyester operating rates in China dropped below 80% Thinning out of US and Europe PET enquires   Due to upstream volatility, prices in Asian PET markets rose in the week ended April 20. The overall market sentiment in China remains somewhat bearish. Feedstock and finished goods are facing challenges due to the ongoing logistical restrictions. Producers are feeling...

GPPS April contract incre...

GPPS April contract increases heard Eur380-420/mt Upstream feedstock supplies curtailed by outages   The European polystyrene market saw sharp price increases on April 20. This was due to a sharp upstream pricing increase in feedstock styrene and continued pressure from rising energy prices. Sources said that contract settlements in Europe's GPPS market rose by Eur380 to 420...

Market quiet / Demand wav...

Market quiet Demand wavers in response to high prices  Participants in the market noted that there was very little spot activity in the European polypropylene markets in the week ending April 20th. Buyers were unwilling to pay high selling prices. The sellers remain confident in setting product prices to reflect high energy, monomer, and logistic costs. This has led to c...

Converters face downstrea...

Converters face downstream resistance Market wary over upstream Russian oil and gas sanctions   In the week ending April 20, spot activity on Europe's linear low-density plastic ethylene market was subdued due to high prices and limited supply. This made it difficult for converters to pass on price increases to customers. Buyers seeking to avoid high transport, logistical, and...

UK spot prices trend up /...

UK spot prices trend up Interest in imports rises   In the week ending April 20, the European polyethylene terephthalate (EPET) spot market was quiet. Buyers opted to concentrate on contract volumes and stay out of the spot market. Some market participants believe that recent price increases have contributed to the weak spot demand. However, contract commitments during peak s...

Russian-origin methanol o...

Russian-origin methanol offers remain on cards Muted discussions at SE Asia's main ports  The Indian methanol market was divided by discussions about Russian origin offers, while muted talks with the Middle East were held. While buying indications for Middle East origin material remained at $390-400/mt, there was limited trade activity due to the higher selling ideas. ...

China's demand weighed do...

China's demand weighed down by weak downstream Floating basis discussion preferred over fixed prices   Asian ethylene spot prices were rangebound on April 20th from the previous session. A wide gap between seller and buyer price expectations hampered discussion amid uncertainty about price direction in downstream industries. According to market sources, Asian naphtha-based cr...

Thin trade discussions, p...

Thin trade discussions, price falls on crude and naphtha Lack of vessels, freight rates hamper trades   Asian toluene prices dropped $20-25/mt on April 20, following the sharp drop in crude oil prices overnight and the fall in upstream markets. Trading sources reported that the fundamentals were unaffected by the lack of toluene supplies and strong sentiment. The crude v...

SM up $15-18/mt | Crude,...

SM up $15-18/mt Crude, naphtha tumble   Asian benzene prices rose $1-2/mt on April 20, at $1,150-1,180/mt FOB Korea. This was due to firmness in downstream Styrene Monomer. SM rose $15-20/mt at $1,320-1,350/mt CFR China on April 20. A trader said that arbitrage to the US might open up in the near future. This also lends some sentimental support to Asian benzene marke...

Floating discussions stay...

Floating discussions stay firm Buying appetite heard outside China   Due to falling prices of upstream crude oil, Asian paraxylene was down $16-20/mt on the day at $1,200-1,225/mt CFR Taiwan/China or $1,180-1,200/mt FBO Korea April 20, amid price drops in naphtha and upstream crude oil prices. For the third consecutive trading day, the spread between naphtha and paraxylene wi...

Lower operating rates in...

Lower operating rates in North China tighten local supply Easing restrictions in East China fuel bullish sentiment   Asian styrene monomer was valued at $15-20/mt at $1,320-1,350/mt CFR China on April 20th. The China domestic price was also assessed at Yuan 160-180/mt at Yuan 9,700-9,725/mt exp-tank. This is supported by news about production losses in North China and easing rest...

PX falls $18-20/mt | Naph...

PX falls $18-20/mt Naphtha down $30-32/mt   Asian isomer-grade mixed xylene dropped $14/mt on the day to $1,100-1,125/mt FOB Korea. It was at $1-1.5/mt CFR Taiwan and $5/mt down at $1-1.5/mt China on April 20. This was due to lower crude oil prices and other market factors. June ICE Brent crude oil futures fell $4.26/b to $105-110/b by 0830 GMT in Asian trading. This caused nap...

Bid increases premium to...

Bid increases premium to RBOB Crude futures nearly flat on the day   US Gulf Coast spot MTBE flats prices edged up by 5.51 Cents on April 20, due to higher gasoline prices, and a larger premium to NYMEX front-month RBOB. Trafigura offered 360-380c/gal for 25,000 barrels MTBE from April 25-29. During the Market on Close assessment process, there were no offers or trades.&n...

Benzene prompt supplies r...

Benzene prompt supplies remain heavy Styrene trading continues upward   The European benzene market was quiet after the Easter holiday weekend. Many market participants were on vacation. Based on a contango structure that was in place between April-May as there were still sufficient supplies at the prompt end, the five to thirty-day forward delivery laycan was increased 50 cen...

MTBE buying, selling inte...

MTBE buying, selling interest seen during MOC ICE Brent futures down 14 cents/bl  Spot European methyl Tertiary Butyl Eth prices rose on April 20 due to increased trading activity during the Market on Close assessment process by Commodity Insights. Total offered 1,000 mt for front-loading at $1,181/mt to Total, and there were no bids. This disproved the MTBE-EBOB relationship...

Chinese buyers are cautio...

Chinese buyers are cautious about picking imports China's Fujian Zhongjing to delay the startup of the new Jiangyin PP plant to H2 June Asia's propylene market remained stable on April 21. Buyers were reluctant to purchase import cargoes due to low downstream demand. Although the ICE June Brent crude futures rose 38-48 cents/b to $100-110/b at the Asian close on April 21, it did...

Crude oil futures rise 38...

Crude oil futures rise 38 cents/b Regions outside China more profitable: seller The Asian mono ethylene glycol price (MEG), was stable on April 21 despite thin trade. The ICE June Brent crude oil futures increased 38 cents/b to $100-120/b at the Asian close on April 21. Although it is more profitable to sell to China than to other regions, some sellers want to maintain the business...

Chinese buying interest w...

Chinese buying interest was seen for end-May deliveries Lower discussions in the Indian methanol market Even though local coast prices were falling, trading activity on the Chinese methanol markets picked up on April 21. The price of a parcel weighing 5,000 mt arrived at the end of May at $385-395/mt CFR China. Reports claimed that cargo from the Middle East was traded for...

Prices upon strong fundam...

Prices upon strong fundamentals China's domestic prices firm marginally Due to limited cargoes and thin trades, Asian toluene prices increased by $10-12/mt. Prices rose partially in line with the upstream naphtha and downstream benchmarks, such as paraxylene. Although sentiment remained high, discussions were limited as most May cargoes were placed and June's availability was...

Easing restrictions in ea...

Easing restrictions in east China supporting benzene sentiment Japan steam cracker operation rate at 96.1% in March Spot prices for Asian benzene were supported by strong bids and bullish sentiments from downstream markets. Physical discussions began slowly in the morning trading session. Bids were heard at $1,155-1,185/mt for the June shipment FOB Korea cargoes. The offer level...

PX-MX spread narrows on f...

PX-MX spread narrows on firmer feedstock Sentiment rallies on easing pandemic restrictions in China Paraxylene in Asia rose $4.34/mt on the day to $1,205-1,225/mt CFR Taiwan/China April 21 and $1,185-1,200/mt FBO Korea April 21. This was in conjunction with gains in downstream PTA markets. The June laycan was the focus of trade activities during the Market on Close process by Com...

Limited spot demand due t...

Limited spot demand due to negative downstream margin Futures prices rise 1.45% Asian spot styrene monomer prices rose from $15-18/mt to $1,335-1,345mt CFR China marker. The China domestic price was Yuan 110/mt, Yuan 9,800-9,850/mt exp-tank. This equates to $1,325-1,345/mt based on import-parity April 21. Higher domestic China supported firm SM's prices at Yuan 9,800-9,840/mt H2...

FOB Korea isomer-MX jumps...

FOB Korea isomer-MX jumps $22-25/mt MX-PX spread narrows as PX rises $4.34/mt Asian isomer-grade mixed xylene was valued up to $22-25/mt on the day at $1,125-1,150/mt FOB Korea. It was stable at $1.077/mt China on April 21 due to bullish buying interest in H2 May cargoes. The sharp rise in FOB Korea isomer MX prices outpacing the $1/mt increase in naphtha on a day to $910-920/mt J...

Blending component invent...

Blending component inventories fall Crude futures rise by $1.04 Spot MTBE flat prices on the US Gulf Coast rose by 5.38 Cents on April 21, following higher gasoline prices. During the Market on Close assessment process, there were no trades, offers, or bids. On the day, the MTBE premium to prompt month NYMEX RBOB remained constant. Crude oil futures increased by $1.04 on...

Styrene prices remain bul...

Styrene prices remain bullish on outages April trading was seen in a broad spread The European market saw benzene prices rise slightly, led by downstream styrene. The forward delivery laycan for five to thirty days was valued at $10-12/mt and $1,215-1,225/mt CIF ARA, despite a decline in ICE Brent crude oil swaps this week. A trader stated that although trading liquidity was...

No bids offers or trades...

No bids offers or trades were seen during MOC Gasoline-naphtha spread widens Spot activity in Europe's MTBE market was very limited on April 21. There was no trading activity during the Market on Close process of Commodity Insights, and there were no fundamental changes. The Eurobob May Swap premium was $130-140/mt FOB AR, unchanged from April 20, MTBE prices increased to $1,...

NBA rises $55 on the week...

NBA rises $55 on the week as 2-EH, DOTP stay flat Automotive industry slowdowns remain prevalent On the week of April 21st, US oxo-alcohols pricing varied as prices were fluctuating. Sources indicated that domestic demand is waning due to slowdowns in the automotive sector. Normal butanol export prices increased $55 to $2,450-2,460/mt FOB USG. This is after pricing was discussed...

LyondellBasell declares f...

LyondellBasell declares force majeure on glacial acetic acid: Letter Prices to rise further amid strengthening demand and poor market supply The prices of vinyl acetate monomer and spot acetic acid on the US Gulf Coast increased over the week ending April 21. Based on speculation of higher prices, acetic acid was valued at $1,500-1,520/mt. This is $50-55/mt more than the previou...

April trades lower at Eur...

April trades lower at Eur360-380/mt as month-end approaches June deals heard stable at Eur372-390/mt FOB Rotterdam Spot activity on the European methanol market was low on April 21 as traders were still returning from Easter break. There was increased interest in May and June volumes. However, April's product buying interest dropped as the end of the month approached. Accord...

China's pandemic lockdown...

China's pandemic lockdowns weigh on AA prices VAM trading activity seen in Southeast Asia AA: East China's domestic prices fell to Yuan 550-580/mt, or $85-90/mt over the week. This was due to China's quarantine and lockdowns that hampered trading activities downstream. Meanwhile, the US' force majeure (a US producer of vinyl acetate monomer and glacial acetic acids) had not yet been...

China's VCM demand weak a...

China's VCM demand weak amid lockdown FOB Asia EDC price has seen higher vs CFR EDC: Asian EDC fell $20-24/mt on April 21st, pushed by bearish Chinese demand and in line with weaker downstream VCM or PVC markets. Sources in the market pointed out that spot EDC prices in FOB Asia were higher than in the CFR market. This was due to higher values in nonAsia markets. In the week...

Chinese buying interest w...

Chinese buying interest was seen for end-May deliveries Lower discussions in the Indian methanol market Even though local coast prices were falling, trading activity on the Chinese methanol markets picked up in April 21. The price of a parcel weighing 5,000 mt arrived at the end of May at $385-400/mt CFR China. Reports claimed that cargo from the Middle East was traded for...

Buying interest remains l...

Buying interest remains low amid weak demand Sumitomo Chemical plans to shut caprolactam in Oct Due to limited spot availability and slow demand, the Asian caprolactam markets saw buyers and sellers battling it out. Prices remained flat at $2,250-2,280/mt CFR Far East Asia, and $2,310-2,320/mt CFR Southeast Asia on April 21. Spot prices in East China were higher at Yuan 13,900-14...

AA: Supply remains tight,...

AA: Supply remains tight, amid high logistical and feedstock costs VAM: Mixed views on fundamentals heard in the market AA: The European acetic acid spot market saw a rise in prices during the week ending April 21. The spot prices for AA were Eur1,780-1,800/mt F.D. Northwest Europe. This was an increase of Eur30-35/mt over April 14. Sources told me that the spot market for AA...

Demand resilient in N-but...

Demand resilient in N-butanol, I-butanol and 2-EH markets Market participants note regional contrast In the week ending April 21, European oxo-alcohol markets saw low spot activity. The European 2-EH spot price fell Eur50-60/mt from the week at Eur2,300-2,315/mt. FD Northwest Europe data from  Commodity Insights showed. Prices for European 2-EH were down Eur50-60/mt within a pro...

March CP propane swap val...

March CP propane swap valued $2/mt above Feb term CP Thin activity as market participants await March cargo dates The March Saudi CP Propane Swaps were valued at $777/mt-$780/mt on February 15, up 9.50/mt over the previous session. It was $27/mt-$35/mt narrower than the previous session by $1.50/mt-$1.65/mt. The April-May CP Propane Swap Backwardation was $1/mt-$5/mt wider than...

Asia LPG prices retreat a...

Asia LPG prices retreat as Ukraine conflict concerns appear to easeChinese buyers issue tenders for propane and butane   Sources said that the AsianLPG market was seeing interest from China as two Chinese users bid on propane and butane. China's Ningbo Kingfa wanted to buy 23,000 mt (46,000 mt per month) of propane from March to July. This was done via a tender close on...

Spot falls 1 cent day on...

Spot falls 1 cent day on day Market activity thin Due to low offers and limited market participation, the US methanol spot declined on the day. After a February methanol offering at 122c/gal FOB ITC, February spot methanol dropped 1 cent to 121c/gal FOB USG. March spot methanol also fell 1 cent on the same day to 121c/gal FOB USG. This was due to a March offer of 122c/gal FOB...

Spot remains unchanged /...

Spot remains unchanged Thin market participation The spot US ethylene prices remained flat as market participation was low on February 15. Mont Belvieu ethylene prices for February remained unchanged at 37.75 Cents/lb Fd Mont Belvieu. This was above the February bid of 37.75 cents/lb MtB pipe. March Mont Belvieu also remained flat at 37.25 Cents/lb FD Mont Belvieu on the day....

NGT at 341 cents/gal | MX...

NGT at 341 cents/gal MX at 341 cents/gal   Spot nitration grade toluene from the US Gulf Coast and mixed xylenes were at their seven-year-highs on February 15. The February NGT was steady at 341c/gal FOB USAG on the day and remains at a seven-year high. The spot NGT was 346 cents/gal when it was last assessed at 341 cents/gal on October 13, 2014. Forward-month March...

Bad weather in Europe add...

Bad weather in Europe adds to naphtha tightness  High paraffinic naphtha premiums skyrocket CIF naphtha cargo prices in Northwest Europe fell 2.5% today, despite unchanged market fundamentals of strong demand and tight supply. This was due to poor weather conditions in the Mediterranean and the Black Sea. While gasoline blenders and petroleum chemicals continued to be in dem...

Asian naphtha is supporte...

Asian naphtha is supported by a tight arbitrage supply from the West Ethylene-naphtha spread widens on the week, within breakeven range India's Naphtha consumption hit a 14-month high in January. TheAsianannaphtha Market was boosted by thin Western arbitrage supplies on Feb. 15, while demand fundamentals were mixed due to improving olefin margins, and relatively lower LPG prices.&...

Styrene rises $55/mt for...

Styrene rises $55/mt for five-to-30 days forward laycan  Premium to benzene increases by $50.75/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50/mt- $80/mt as a producer purchased several cargoes for loading in February.&nbs...

Buyers await additional o...

Buyers await additional offers South Korea's Jan exports rise 25% on a month  Asian butadiene was stable on Feb. 15k, as market participants talked about spot cargoes that might emerge in Southeast Asia after the recent spike in Asianbutadiene price. A 2,000-mt spot cargo of Asianbutadiene was traded last week at $900/mt FOB Southeast Asia. A 2,000-mt spot cargo worth $9...

S. Korea's January MTBE e...

S. Korea's January MTBE exports surge 64.5% on capacity addition Crude rallies extend amid lingering Ukraine-Russia tensions   The Asian MTBE dropped $9/mt-$15/mt to $1,003/mt-$1,006/mt FOB Singapore on February 15, due to aggressive selling. In the midst of lingering Ukraine/Russia tensions, the front-month ICE Brent crude oil futures extended gains by rising 0.35% at $94.89...

February, March spot stab...

February, March spot stable at 122.5 cents/gal FOB USG USITC export data released US spot methanol prices were stable on February 9, despite high offer indications for February and March, with no trades reported that day. February spot methanol was flat at 122.5c/gal FOB USG, which is below the February methanol offer of 126c/gal FOB ITC. March methanol was also flat at 12...

Hexene grade remains tigh...

Hexene grade remains tight, per sources Shell expects a new complex to start-up by year-end: CFO Spot export pricing of linear low-density, polyethylene was either flat or slightly lower on the week. Market sources indicated that resin availability is constantly tightening in February. Spot LLDPE Butene was valued at $1,422-$1,444/mt (64.5-75.5 cents/lb), which is unchanged from...

Logistics issues continue...

Logistics issues continue impeding exports Domestic production up, exports down to end 2021: ACC Mid-February saw low-density plastic ethylene export prices continue to rise as suppliers' pricing increased. Spot prices were $22-$28 higher this week at $1.466-1.488/mt (65-67.5 cents/lb on a FAS Houston basis). The price of railcars was discussed in a broad range, with some rea...

Lower offers reported in...

Lower offers reported in Brazil, sources say Mercosur sees small falls for February bookings Sources said that Latin American polypropylene prices were lower for homopolymer on the West Coast of South America, and in Brazil on February 9, while copolymer grades were flat in both regions. Market feedback indicated that the new Mercosur prices were slightly lower for February. ...

Logistics logjams holding...

Logistics logjams holding up resin exports, including PVC US PVC exports in 2021 down 21.5% from 2020: ITC Based on stable pricing indicators, spot export polyvinylchloride prices were unchanged from week to week on Feb. 9. Market sources were waiting for news of fresh March PVC volume offers from Asia. According to American Chemistry Council data, supply was tight. However,...

Mexico unchanged for LLDP...

Mexico unchanged for LLDPE and LDPE Argentina sees a small downward in domestic prices Latin America's linear-low density polyethylene pricing was higher on the West Coast of South America and in Brazil on February 9, sources stated, while prices dropped in Argentina and Mercosur. LLDPE was valued at $1,550/mt-$1,560/mt  in the WCSA. This is an increase of $80/mt week-on-week...

PET imports up 34% on yea...

PET imports up 34% on year Upstream PTA/PX contracts are still unsettled The US Polyethylene Terephthalate market remained stable on Feb. 9, as importers continue their struggle with shipping delays and port congestion. US import PET resin prices were stable on the week at $1,995-$2,017/mt (90.50-91.50 cents/lb) DDP US West Coast, based on last-received market talk of pricing in t...

US PGP continues to climb...

US PGP continues to climb through Feb An array of trucking, bagging issues slow activity Sources said that the US homopolymer injection grade polypropylene pricing remained stable on February 9, despite speculations of tightening spot monomer feedstock prices throughout the week. Spot homopolymer plastic propylene export prices were assessed at $1.664-$1,687/mt (77.55-76.5 cents/l...

March CP propane swap ret...

March CP propane swap retreats below Feb term CP March-April, April-May CP propane swaps backwardation widens March Saudi CP propane swaps were valued at $771/mt on February 9, down $4.5/mt-$4.9 and $4/mt-$9/mt less than the February term CP.5/mt. The gap has widened by $2.5/mt-$2.9/mt over the day. The April-May CP prop propane swap backwardation increased by $2/mt-$6/mt to $26/...

Asia LPG prices extend fa...

Asia LPG prices extend fall, but lag Brent drop Taiwan's Formosa seeks LPG for March delivery Asia LPG prices dropped further on February 9, but not as much as $7.84/mt in April Brent crude futures, which fell from the Asian close at 0900 GMT. February 9th, front-cycle first half March CFR North Asia propane cost $793/mt-$800/mt. This is $4.6-$4.9 less than the previous day. ...

February, March spot stab...

February, March spot stable at 122.5 cents/gal FOB USG USITC export data released US spot methanol prices were stable on February 9, despite high offer indications for February and March, with no trades reported that day. February spot methanol was flat at 122.5c/gal FOB USG, which is below the February methanol offer of 126c/gal FOB ITC. March methanol was also flat at 122.5...

A restart of the benzene...

A restart of the benzene production unit to last one week Styrene liquidity surges as demand peaks DDP benzene for February fell 1 cent/gal to 361.5c/gal on February 8 to 361.5c/gal on Feb. 8. This was due to weak WTI crude futures, which weighed on benzene despite continued supply-side concerns. WTI crude futures dropped $1.96/bl-$1.101/b to $89.36/bl-$90.45/b on February 8. ...

USITC export data release...

USITC export data released February/March Choctaw ethylene falls .75 cent on the day Due to numerous trades and offers, the US ethylene spot saw a decrease in its prices. The price of February Mont Belvieu ethylene fell to 37.75c/lb Fd Mont Belvieu. It was also reported that in February Mont Belvieu's Ethylene was traded three times per day at 37.75c/lb B pipe. This equated to a...

MX at 329 cents/gal | NGT...

MX at 329 cents/gal NGT at 329 cents/gal Spot mixed xylenes from the US Gulf Coast and nitration-grade toluene rose seven years ago to record highs in February. The February MX index rose 4 cents per day to 329c/gal FOB USAG, a seven-year high. Spot MX was at 340c/gal when it was last assessed at 329c/gal on October 13, 2014. Forward-month March MX was 4c higher at 329c...

Support from strong deman...

Support from strong demand for high paraffinic naphtha East-West at fresh 43-month low despite tight Asia CIF NWE naphtha cargo price rose 2.5% on Tuesday, supported by higher demand for high-paraffinic naphtha, which is a popular specification with ethylene producers. Sources said February 9. Sources suggested that the high prices seen in the physical market in recent weeks coul...

Asian naphtha boosted by...

Asian naphtha boosted by tight supply on closed arbitrage Reforming spread hits two-year high on strong gasoline Ethylene-naphtha spread widens, remains below the breakeven level The Asian naphtha market saw gains due to tight supply and closed arbitrage lanes. Demand was mixed because olefin margins were below breakeven and the reforming spread reached multi-year highs. The...

Styrene rises $55/mt for...

Styrene rises $55/mt for five-to-30 days forward laycan Premium to benzene increases by $50.75/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices increased to $50/mt-$55/mt as a producer purchased several cargoes for loading in February. ...

Asia market-priced reason...

Asia market-priced reasonably vs local China S Korea-US arbitrage difficult amid high freight February 9th, the Asian butadiene market sentiment was stable. According to market sources, the Asian butadiene industry would likely strengthen in the week ending February 6. It is priced fairly compared with the domestic China market. The local China butadiene market price was un...

92 RON gasoline slips 0.4...

92 RON gasoline slips 0.43%; crude falls 0.96% on day Singapore-to-China MTBE arbitrage window remains closed Under pressure from active selling and weaker crude oil markets, Asian MTBE dropped $15.23/mt-$15.30/mt on the day to $963/mt-$980/mt FOB Singapore on Feb. 9. The 92 RON gasoline prices were down 0.43% on the day to $104.95/b-$104.101/b. Front-month ICE Brent crude oil fu...

Market participants antic...

Market participants anticipate an increase Feedstock price trends higher for the period Spot export pricing for US acrylonitrile fell on the week due to weaker supplier pricing. This was in response to the lower FE Asia prices. US spot acrylonitrile was $5 less on the week, at $1830/mt-$1850/mt FOB USGC on February 15. This was due to talk of supplier pricing at this level (...

Contractual demand strong...

Contractual demand strong  Downstream demand helped by high freight costs CIF ARA acrylonitrile spot prices remained stable at $1,865/mt-$1,870/mt on February 15. According to sources, there was little activity in the spot market for consumers who contracted last year due to the shortage. "No demand, a very, very quiet quarter," a trader said. Contractual demand was...

Producers in Northeast As...

Producers in Northeast Asia reduce run rate amid weak margins  Taiwan's Formosa Plastics to restart the 280,000 mt/year ACN plant on March 4 As the ongoing Asia supply glut weighed in on the import prices, the Asian acrylonitrile markets fell over the week ended February 15. According to reports, the price of acrylonitrile was Yuan 11,000/mt- Yuan 11,030/mt for the week endin...

Petro Rabigh restarts phe...

Petro Rabigh restarts phenol/acetone plant after glitch  Zhejiang petrochemical conducts test run at phase 2 plant   This week, Asian phenol and Asian acetone markets were bullish due to high feedstock costs and returning demand from India and China. According to market sources, some major Indian phenol/acetone producers had reduced their run rates by around 60%-70% bec...

Acetone sees $5/mt gain |...

Acetone sees $5/mt gain  Butyl acetate, acetyl acetate prices are stable  ACETONE: The US spot acetone rose by $5.5/mt-$5.7/mt to $843.5/mt-$850.7/mt in the week ending February 15. Domestic acetone assessments fell from $177/mt to $1,102/mt-$1,110/mt for truck and railcar delivery. A source claimed that spot acetone prices rose following the breach of a price ceiling at th...

ETAC downtrend sharpens o...

ETAC downtrend sharpens on firm offering, slow demand  MEK firm on tight supply ACETONE/PHENOL - The spot price for FD NWE Acetone was Eur730/mt-Eur750/mt on February 15, up Eur80/mt over the previous week. This is a high price considering that a distributor indicated offers in the Eur700-725/mt FCA range and there have been rumors of price rises. A distributor stated that suppliers...

Tight supply on turnaroun...

Tight supply on turnarounds could boost pricing                          Caustic soda exports in 2021 up 5.7% from 2020: ITC                      Based on stabl...

The wider price gap betwe...

The wider price gap between CFR China, FOB Korea marker  China's Jiangsu Sailboat delays the startup of new PDH plant After a production outage in South Korea caused by a major producer, propylene prices received strong support on February 15, with FOB Korea receiving firm support. The propylene market was also helped by stronger crude oil futures. April ICE Brent crude futu...

Middle East producers swi...

Middle East producers swing volume from India to Southeast Asia  Prompt spot demand was seen in China on Feb. 15  The Indian methanol market saw little trading activity, despite limited Middle East offers. Instead, producers shifted more volume to Southeast Asia to increase their netbacks. Sources claim that other markets offer better netbacks than India. "One majo...

Downstream operating rate...

Downstream operating rates could be cut further on high ethylene prices  Selling indications remain high on bullish upstream prices Volatile upstream naphtha price pressure continued to affect the Asian ethylene market on February 15, with many buyers leaving the market due to declining buying interest. Producers of key downstream products like styrene monomer and ethylene g...

Supply in domestic China...

Supply in domestic China tight CFR India premium higher on firm bid Asian toluene prices remained unchanged at $896/mt FOB Korea and rose by $1/mt-$5/mt to $929/mt-$930/mt CFR China on February 15. Spot prices in China rose to Yuan 6,870-6,890/mt, for prompt delivery. However, they fell to Yuan 6,830-6.850/mt, for H2 February delivery. This was despite limited prompt offers. Howev...

Q2 paper time spread soft...

Q2 paper time spread softens, benzene-naphtha spread holding up FOB Korea benzene marker dips As high-priced upstream oil prices raised concerns among participants about a possible price retreat, Asian benzene markets saw little trading activity on February 15. While H2 March was supported, bearish sentiments attracted bids along with the April layman. FOB Korea benzene phys...

April bids still persist...

April bids still persist in the marketSpread expected to be rangebound Asian paraxylene was valued at $1,089.67/mt- $1,090/mt CFR Taiwan/China in the morning. This was $10/mt-$20/mt lower than it was on February 15. Even though ICE Brent crude futures were strong this morning in Asia, which also supported the PX price during the morning, crude declined during the market close and l...

Tight supply on plant mai...

Tight supply on plant maintenance, lower operations, closed arbitrageSouth Korea's Jan SM imports are up 54.3% Asian spot styrene monomer price rose on Feb. 15, while the Chinese domestic prices were up by Yuan 20, at Yuan 9,085/mt-Yuan 9,090/mt exp-tank. This equates to $1,239.24/mt- $1,245.35/mt if you consider import-parity. Although domestic Chinese SM prices were supported in...

No activity in MOC / RBOB...

No activity in MOC RBOB settles lower on day The spot MTBE on the US Gulf Coast fell with NYMEX RBOB in the morning of February 15, amid low activity. Spot MTBE fell 11.03 Cents/gal to 297.57c/gal FOB USAG. This assumes an unchanged premium at 30.66c/gal to March NYMEX RBOB Futures. There were no trades, bids, or offers during the Close assessment market. Asian isomer-MX was l...

Bullish support expected...

Bullish support expected from energySeven trades heard in the styrene spot market On February 15, benzene activity was low with buy interest receding for February and no sales interest for April. Based on the existing contango structure between February and March, the five- to 30-day forward delivery lay can be valued at $1,077.50/mt-$1,085.60/mt CIF AR, an increase of 25 cents.&nb...

Sources say the MTBE mark...

Sources say the MTBE market is strong    Gasoline blending margins narrow day on day  Spot prices for European MTBE/ETBE declined on February 15 due to firm selling and the downward trend in the upstream gasoline markets. Rated the MTBE FOB ARA marker at $29.75/mt-$32.80/mt on February 15, 2013, a decrease of $23.033/mt-$26.045/mt. The European MTBE premium to F...

Improving availability /...

Improving availability Slower demand than in 2021 The European acrylonitrile-butadiene-styrene market continued to move towards more balanced supply and demand dynamics in the week to Feb. 9, continuing a trend seen through the opening weeks of 2022. Sources indicated that availability had improved. They pointed to Ineos Styrolution’s Wingles France production facility of 50,000...

Firm oil prices lift sent...

Firm oil prices lift sentiment Pre-holiday stocking leads to sluggish buying interest The spot price for Asian general-purpose polystyrene was up $95/mt-$98/mt this week at $1.455/mt-$1.460/mt in China and $1.605/mt-$1.612/mt in Southeast Asia on February 9. Source data revealed that the higher upstream prices and logistic limitations were largely responsible for the increase in Asian...

Firm upstream prices boos...

Firm upstream prices boost sentimentDemand is likely to appear in mid-February Asian Acrylonitrile-butadiene-styrene (ABS) spot importing CFR China price was assessed up by $45/mt on the week at $1,890/mt-$1,895/mt CFR China and higher by $45/mt-$50/mt for the same period at $1,920/mt-$1,940/mt CFR Southeast Asia on Feb. 9. China's market reopened on February 7, following the Lunar...

Local China PP raffia pri...

Local China PP raffia price up Yuan 100 on week South Asia demands robust According to sources, polypropylene prices rose in Asia this week. There was a sharp rise in South Asia and Southeast Asia, despite higher offers due to an increase in upstream costs. The domestic Chinese prices rose sharply on the first day after the holidays but lost some of their gains towards the end.&...

Few offers available on f...

Few offers available on freight challenges Demand in the polyester sector is lackluster Due to increases in crude oil and other key upstream PTA markets, Asian PET market offer levels rose following the Lunar New Year holidays. Sellers reported an increase in inquiries from Europe and the US, but they said that offers were still limited due to ongoing logistical challenges like a...

GPPS spot values decrease...

GPPS spot values decrease on healthier availability Talk of slower GPPS demand versus last year The week ended February 9, and prices for European general-purpose polystyrene fell due to a stronger market supply than in January. It's much easier to purchase PS. There is no shortage of HIPS or GPPS on the market. According to a producer, it appears that the market is more...

Producers squeezed by ris...

Producers squeezed by rising costs and rebalancing supply Imports expected to arrive Spot prices for homopolymer injection polypropylene at Eur1,660/mt-Eur1,680/mt FDNWE on February 9, unchanged from the previous day and up Eur40/mt-Eur60/mt over the past week. Monomer costs rose Eur65/mt. Polypropylene producers wanted to raise prices at a similar rate or beyond supply rebalanci...

Downstream demand is hear...

Downstream demand is heard to be weaker Logistical difficulties limit import impact In the week ending February 9, 2009, there were mixed developments in the European linear low-density polyethylene (LLDPE) market. While some market participants pointed to increased import volumes, others cited tightening supply in LLDPE C4 markets, citing a lack of additives in the manufacturing...

Limited run rates heard i...

Limited run rates heard in EuropeDelays expected for PET imports  The price of virgin polyethylene Terephthalate in Northwest Europe started to level off over the week ending February 9, while prices in the UK remained steady or slightly lower. Sources earlier this week noted that spot prices had plateaued due to rising production costs, delayed material arrivals, and other f...

Shandong propylene down Y...

Shandong propylene down Yuan 25/mt China's Zhejiang Petrochemical runs the ACN plant at full rate Asian propylene prices were stable on February 9, as many Chinese buyers pulled back from spot procurement due to the falling downstream polypropylene futures prices. The market opinion regarding the direction of propylene's price was split. The buying interest was hurt by a fa...

Crude slips $1.97/b on da...

Crude slips $1.97/b on day Net import volumes are still strong Due to the lower demand for cargoes after the fall in crude oil prices, Asian mono ethylene glycol prices fell on February 9. The ICE April Brent crude oil futures dropped 88 cents/b to $90.97/b-$90.110/b by 4:30 pm Singapore time. The MEG inventories were stable at 440,000 mt as of the day before. A trader...

Tight supply in Southeast...

Tight supply in Southeast Asia in March India ex-tank stable at Rupee 32.50-32.75/kg India's formaldehyde sector enters peak season February saw a rise in trading activity in Southeast Asia. On February 9, a trade was made for a parcel weighing 4,000 mt and was settled at $430/mt to $440/mt CFR Merak. A bid for a parcel weighing 3,000 mt for delivery in the second half of Ma...

Offers limited feedstock...

Offers limited feedstock uncertainty Ethylene production margin below typical breakeven levels Spot discussions in the Asian Ethylene Market on Feb. 9 were very limited. Most participants were in wait-and-see mode due to volatility in the upstream crude oil, naphtha, and market. The feedstock uncertainty slowed down firm offers, although there was strong buying interest in late-...

East China market retreat...

East China market retreats Indian sentiment softens The oil market rally caused prices in Asia toluene markets to fall day by day on February 9, 2009. Ex-tank bids for prompt to H2March lay cans in East China retreated south, last heard at Yuan 6,500/mt-Yuan 6,540/mt. H2 February received the last bid at Yuan 6,480/mt-Yuan 6,500/mt. Bids were rare and few. Yuan 6,495/m...

CPC seeks benzene from Ap...

CPC seeks benzene from April-December East China marker declines the most during the session After crude oil fell, the trading sentiment in Asia's benzene markets weakened on February 9. At 0830 GMT, the front-month April Brent crude dropped 88 cents/b and was $90.97/b-$90.105/b. Market sources said that there would be no significant difference in April Brent crude oil prices,...

March, April Asia cargoes...

March, April Asia cargoes trade on MOC PXN narrows on day Asian paraxylene was down $29.16/mt-$29.25/mt to $1,069.17/mt-$1,080/mt CFR Taiwan/China on February 9, after taking into account the fall in nearby markets such as Brent crude oil and pure terephthalic Acid (or PTA) futures on China’s Zhengzhou Commodity Exchange. ICE Brent futures fell $0.88/b to $90.97/b. March car...

China's Lihuayi starts of...

China's Lihuayi starts offering new plant Strong downstream prices Asian spot styrene monomer prices were down $25/mt today at $1,223/mt-$1,240/mt CFR China. The China domestic price was down Yuan 250/mt Yuan 9,005/mt exp-tank. This equates to $1,227.4/mt-$1,227.12/mt import-parity. The SM market is experiencing bearish sentiment due to lower upstream oil prices. Upstream, A...

Falls $18/mt on the day |...

Falls $18/mt on the day Overall fundamentals still bullish Asian Isomer MX was $18/mt to $21/mt higher day-on-day, following the fall in western crude benchmarks whose upside was halted by decreasing geopolitical tensions. The April ICE Brent crude oil futures contract closed at $90.97/b- $90.110/b at 4:30 pm Singapore time. This was down from the previous Asian closing of $91.85/...

Enterprise sells to Lyond...

Enterprise sells to LyondellBasell Premium to RBOB narrows Spot MTBE on the US Gulf Coast rose 1.85 cents/gal on February 9. Based on a trade that was made during the Close assessment process, spot MTBE increased to 296 cents/gal. Enterprise sold 25,000 barrels at LyondellBasell for 296 cents/gal FOB USAG. The March NYMEX-RBOB for March was 265.34c/gal at the time of th...

Benzene spot activity rem...

Benzene spot activity remains sluggish Three deals heard done for styrene February 9th was a slow day for the European benzene market. There were no deals made and a trader observed a dearth of bids. A trader stated that a seller was selling large quantities of benzene, and this could have an impact on the market. Trading activity was picking up in the styrene marketplace, w...

Trading liquidity returns...

Trading liquidity returns    Supply-demand balance largely unchanged  European MTBE rose to $31/mt-$38/mt on February 9, 2015, due to continuing buying interest and gains in upstream gasoline markets. From July 9, 2015, the MTBE FOB ARA price was $31/mt-$38/mt higher than it was on July 9. It was $1,045.25/mt-$1,060.30/mt March. This was up from $156...

March CP propane swap alm...

March CP propane swap almost at parity to Feb term CP Mar-Apr CP propane swaps backwardation narrows $2.5/mt on day February Saudi propane CP swaps were valued at $775.5/mt -$775.10/mt on February 8, down $10/mt -$15/mt, and 50c/mt more than February term CP. On February 8, the March-April CP prop gas swaps backwardation was priced at $28/mt -$35/mt. VLGC is still bearish and rel...

Asia LPG prices decline s...

Asia LPG prices decline steeper than the fall in Brent levels March FEI propane swap to MOPJ naphtha discount widens Asia LPG prices fell to a seven-day low on February 8, less than April Brent crude futures' $6.08/mt-$6.20/mt drop from the previous Asian close at 0900 GMT. As bidders continued their dominance of market activity, Asia LPG prices were lower than April Brent crude futur...

February, March spot stab...

February, March spot stable at 122.5 cents/gal FOB USG Sources expect the market to soon react to European dealings The US spot methanol spot was stable as there was only one March offer reported by market participants on February 8. February spot methanol was flat at 122.5c/gal FOB USAG. This was based upon last market indications and no new activity. March spot methanol wa...

A restart of the benzene...

A restart of the benzene production unit to last one week Styrene liquidity surges as demand peaks DDP benzene for February fell 1 cent/gal to 361.5c/gal on February 8 to 361.5c/gal on Feb. 8. This was due to weak WTI crude futures, which weighed on benzene despite continued supply-side concerns. WTI crude futures dropped $1.96/bl to $89.36/bl on February 8. US benzene price...

EPC, Choctaw spread narro...

EPC, Choctaw spread narrows High market participation The spot market activity for US ethylene was bullish amid many trades and bids reported by market participants on February 8. Spot Choctaw ethylene fell.25c on February 8th to 35.5c/lb FD Choctaw. This was in spite of a February Choctaw trading at 35.5c/lb FD Choctaw. March Choctaw Ethylene rose.25c on the day, to 35.5c/lb...

MX at 325 cents/gal | NGT...

MX at 325 cents/gal NGT at 326 cents/gal Due to thin activity, US Gulf Coast spot mixed xylenes and Nitration Grade Toluene were at their seven-year peak on February 8. The February MX price was steady day-on-day at 325c/gal FOB USAG, a seven-year high. Spot MX was 326c/gal when it was last assessed at 325c/gal on Oct. 29, 2014. Forward-month March MX was stable at 325c...

Naphtha tight as middle d...

Naphtha tight as middle distillates crack margins preferred Naphtha paper market decline following Brent crude futures CIF cargo prices in Northwest Europe were 3.3% lower than expected due to tight supply. This was due to middle distillates being prioritized at refineries. The transition to summer-specification gasoline is nearing. This, combined with the expected strong demand f...

Tight supply supports Asi...

Tight supply supports Asian naphtha on closed arbitrage CFR Japan naphtha hits seven-year high Closed arbitrage supported the Asian naphtha market, but low olefin margins and tight supply from the West contributed to weakening demand. On the week, the benchmark naphtha C+F Japan cargo rose by $23.375/mt- $23.385/mt to $842.50/mt- $842.60/mt at the Asian close on February 7, an in...

Styrene rises $55/mt for...

Styrene rises $55/mt for five-to-30 days forward laycan Premium to benzene increases by $50.75/mt on the week At the end of Jan. 28, benzene market activity was very quiet, but trading was still being conducted downstream at higher levels in the styrene monomer market. Styrene prices rose to $50/mt-$55/mt as a producer purchased several cargoes for loading in February. Accord...

CFR China hits 4-month hi...

CFR China hits 4-month high Taiwan's CPC to shut Linyuan cracker Due to tight supply and gains in upstream markets, Asian butadiene was stable at $30/mt-$40/mt higher on February 8. The CFR China price hit a four-month peak. Domestic China moved higher on February 8, as participants returned from the Lunar New Year holiday. The Yuan 100/mt- Yuan 130/mt assessment was increased to...

Thailand exports MTBE to...

Thailand exports MTBE to Singapore for two straight months in Dec 92 RON up 0.09%; crude down 0.77% Asian MTBE dropped $10.35/mt-$10.45/mt on the day to $978.23/mt-$985.50/mt FOB Singapore on February 8, due to a selloff in March-loading cargoes. Close assessment process. The 92 RON rose 0.09% to $105.40/b-$108.60/b. Meanwhile, the front-month ICE Brent crude oil futures fell 0.7...

South Korea's SK Advanced...

South Korea's SK Advanced runs the Ulsan PDH plant at full after the restart South Korea's Taekwang to keep the Ulsan PDH plant at a 90% rate for Feb Asian propylene prices were lower as buyers took a step back to wait for clearer market direction. They weren't sure if the recent price rise was supported by fundamentals. Buyers retreated to the sidelines after a fall in crude oil...

The supply glut adds pres...

The supply glut adds pressure Crude down $0.71/b February 8 saw Asian mono ethylene glycol prices fall as buyers pulled back due to weak crude oil. April ICE Brent crude oil futures closed at $91.85/b- $91.95/b at 4:30 PM Singapore time. This is $0.71/b-$0.80/b less than the Asian close. A Chinese source said that there is simply an oversupply of MEG. This is despite the fall...

Trading activity uptick i...

Trading activity uptick in China, Southeast Asia KMI to shut down for maintenance on Feb. 15 for 45 days Chinese methanol futures fell as crude lost some of its gains in the Asian morning trade. However, March spot cargo trading interest picked up on February 8. A 10,000-mt cargo traded at 2.5% above the ICIS SO China Methanol price on February 8. Yuan 17/mt was the closing...

Offers limited on tight s...

Offers limited on tight supply Buying interest improves after the Lunar New Year holidays on low inventory levels February 8th was a slow month for the Asian ethylene market. There were fewer offers and less competition. Although sellers continued to receive more inquiries than before the Lunar New Year holidays ended, they said that there was less supply due to the opera...

Same buyer bids across Ch...

Same buyer bids across China, Korea, and SEA in a tight market Domestic China prices ease from an all-time high the day before Due to stronger bids on the CFR China market, Asian toluene rose $31/mt-$40/mt on Feb. 8. The domestic China prices have slid marginally from their all-time highs of the previous day. On an import-parity basis, the prompt domestic east China ex tank pr...

FOB Korea gains while CFR...

FOB Korea gains while CFR China, east China decline Any-March offer tender emerges from South Korea While the Asian benzene market saw more derivatives trading on February 8, the physical trade momentum was modest. FOB Korea benzene physical markers rose $7 per day to $1,042.67/mt-$1,042.75/mt on February 8, a six-month high. This was due to buying interest returning for March la...

March/April trades on MO...

March/April trades on  MOC PTA, polyester margins holding up Asian paraxylene's value was unchanged at $1,098.33/mt-$1,098.50/mt CFR Taiwan/China on February 8, 2008. This was due to oil markets reducing some of their gains. ICE Brent crude futures fell $0.71/b to $91.85/b-$91.90/b. According to a source, Asian PX prices have remained stable despite the lower oil and naphtha...

A wide gap between offer,...

A wide gap between offer, bid levels Tight supply in the international market Spot styrene monomer prices in Asia were down $1/mt, at $1,248/mt-$1,260/mt CFR China basis February 8. China's domestic price was down Yuan 15/mt to Yuan 9,255/mt exp-tank. This equates to $1,263.14/mt-$1,263.25/mt if you use import-parity. The spot and futures prices in China's domestic market tr...

Iso-MX inches up by $1/mt...

Iso-MX inches up by $1/mt March cargoes see upsides Isomer MX was valued at $1/mt higher day-on-day at $969/mt-$980/mt FOB Korea and $990/mt-$995 CFR Taiwan, respectively. It was also assessed at $979/mt-$985/mt CFR China on Feb.8.The easing crude oil prices slowed market activity and made it slower than usual. The ICE April Brent crude oil futures contract was trading at $91.85/...

March NYMEX RBOB settles...

March NYMEX RBOB settles at 262.51 cents/gal No activity was seen during Market on Close Spot MTBE fell on the US Gulf Coast on February 8th, due to lower prompt month NYMEX RBOB futures. Spot MTBE fell 6.02 cents/gal to 294.15c/gal FOB USG. This assumes a constant premium of 31.64c/gal to March New YorkMEX RBOB. Spot MTBE fell 6.02c/gal, to 294.15c/gal FOB USAG.

Benzene bid/offer indicat...

Benzene bid/offer indications softenBenzene/styrene spread widens Due to softening market indicators following the drop in crude oil prices, spot European benzene prices were lower on February 8. One trader stated that indicators had "cooled down" due to crude oil price drops. Styrene was showing a stronger price trend amid unconfirmed reports that producers were looking to...

Bidding interest was seen...

Bidding interest was seen in Platts MOC processImproving blending margins The European MTBE and ETBE Outright values edged lower on February 8, due to weakening gasoline prices despite the bidding interest. The MTBE FOB ARA mark fell from $19.50/mt-$19.65/mt to $1,014.25/mt - $1,030/mt on February 8, which was higher than the bid level in the market during the Close process. ...

Domestic CP holds steady,...

Domestic CP holds steady, could riseMarket participants eye firmer feedstockUS acrylonitrile spot export pricing found a direction upwards on former supplier pricing indications and talk of higher feedstock costs on the week. US spot acrylonitrile was assessed $30 a higher week on week at $1,835/mt FOBUSGC basis on Feb. 8. The increase was in line with talk of supplier pricing as high as $1,840...

Stable domestic supply to...

Stable domestic supply to continue into Q1Healthy contract demand The European acrylonitrile market continued to record limited spot activity in the week to Feb. 8, softening spot values despite prices of feedstock propylene and ammonia increasing the European acrylonitrile CIF ARA spot price down $15/mt on the week at $1,865/mt Feb. 8. Spot acrylonitrile demand was heard to be subdued a...

S Korea's Taekwang to kee...

S Korea's Taekwang to keep the Ulsan plant at a reduced run rateChina's Zhejiang Petrochemical to run the plant at full rate on Feb. 8 The Asian acrylonitrile market declined over the week ended Feb. 8 as oversupply in China dragged down the import price. The price for acrylonitrile in China was heard to have hit Yuan 10,900-11,000/mt in the week to Feb. 8. The domestic price was around...

US phenol supply fills ga...

US phenol supply fills gaps in IndiaFeedstock benzene costs rise Asian phenol prices extended gains in the week to Feb. 8 on the back of tight supply, while demand remained relatively stable. A US-origin parcel was heard to have sold to India on a CFR basis in the week at $1,580/mt and other selling indications for US origin were heard at $1,620/mt. Market participants said trading indi...

ETAC/BUTAC rise on week I...

ETAC/BUTAC rise on weekIndustrial ethanol falls on a weekACETONE: US spot acetone prices were stable on the week of Feb. 8 amid recent talk of recent high pricing spot acetone at $838/mt FOB USG and $1,279/mt on a domestic delivered basis. In related markets, spot RGP was stable on the week at 23.5 cents/lb FD USG. Acetone has been weak and difficult to sell in recent weeks with prices expecte...

Acetone/Phenol remain ste...

Acetone/Phenol remain steadyIPA prices softenACETONE/PHENOL: The FD NWE acetone spot price was assessed at Eur650/mt on Feb. 8, steady on the week, at the bottom of trader indications heard within a range at Eur650-700/mt, considering talk of price drops heard from a distributor. Mixed views were heard on the acetone price development. There was an upward trend in values, according to a distr...

Supply has seen tight ami...

Supply has seen tight amid turnaroundsFormosa's chlor-alkali maintenance is to conclude by the end of February US spot export caustic soda prices were assessed unchanged week on week Feb. 8 at $690-$700/DMT FOB USG, based on stable pricing conditions.US caustic soda supply was seen tight amid multiple turnarounds. Formosa Plastics USA's turnaround at its chlor-alkali unit at Point Comfor...

Asia PTA: Falls sharply o...

Asia PTA: Falls sharply on week amid weaker upstream, fundamentalsCautious market sentiment in PTA, polyester chainChinese PTA operation rate is around 73.4%, down 9.5% on the weekLow fundamentals and falling upstream prices caused Asian pure Terephthalic acid prices to drop $38/mt and $43/mt to $642/mt and $675/mt CFR China and $787/mt-810/mt FR India on December 3. The ICE Brent crude...

Asian ABS: Falls by $50/m...

Asian ABS: Falls by $50/mt on weak demand, ample supplyLimited import demand is driven by an uncertain outlookChina’s production margin remains healthyThe Asian acrylonitrile-butadiene-styrene (ABS) spot import CFR China price was assessed down by $50/mt- $80/mt on the week at $2,075/mt- $2,090/mt CFR China and lower by $50/mt- $80/mt for the same period at $2,105/mt- $2,130/mt CFR Southeast...

Asian PS: CFR China weake...

Asian PS: CFR China weakens by $20/mt on lower upstream pricesChina starts to export GPPS amid weak domestic priceTight local supply and higher freight support prices in Southeast AsiaS&P Global data revealed that the Asian general-purpose polystyrene spot price fell by $20/mt-$40/mt over the week to $1,400/mt-$1,430/mt and rose by $65/ mt during the same time period to $1,505/mt-$1,520/...

Asian PP: Drops $10-$40/m...

Asian PP: Drops $10-$40/mt amid falling oil, unclear outlookFeb ICE Brent futures fall 11.9% on the week to $71.81/bThe sentiment is generally weak for PP with a wait-and-see approachParticipants in the Asian polypropylene trade remained cautious during the week ending Dec.1, due to volatile and falling crude oil prices. S&P Global data shows that the ICE Brent crude oil February fut...

Asian Recycled HDPE: Fall...

Asian Recycled HDPE: Falls on weak demandAsia- Europe arbitrage openDemand in a year-end lullDue to weak demand and a year-end slump, prices of Asian recycled high-density polyester film fell in the week up to Dec. 1. Sources said that recycled flakes or pellets have trended higher in the past year due to increased manpower and tight supply. However, the recycled grade is still cheaper...

Asia HDPE: Largely stable...

Asia HDPE: Largely stable amid prevailing discussionsThin market activity due to year-end lullOutlook mixed on oversupply but rising costsAccording to prevailing discussions, the Asian high-density plastic ethylene price was largely stable on Dec. 1. The South Asia HDPE market was stable from Nov. 29 to Dec. 1, with traders telling S&P Global of lackluster market activity as they ap...

Asia LLDPE: Largely stabl...

Asia LLDPE: Largely stable due to thin market activityDCE LLDPE futures are down Yuan 277/mtLow activity due to logistical backlogsThe week ended Dec. 1, 2008, saw a steady trend in Asian linear low-density polyethylene prices. This was based on the prevailing discussions. China LLDPE was slightly higher due to a higher discussion. On the Dalian Commodity Exchange, the January 202...

Asia recycled LDPE: Down...

Asia recycled LDPE: Down on weak demandLarge price and product quality fluctuations hinder tradeHigh-quality recycled resin in demandThe prices of Asian recycled low-density polyethylene were lower due to weak demand on Dec. 1, during the year-end slump. Traders claimed illegal waste trafficking was increasing due to tighter waste import restrictions in many countries and the high costs...

Asia LDPE: Stable amid th...

Asia LDPE: Stable amid thin tradingImports could dip in 2022 on new startsBearish sentiment due to falling coal costsIn the week ending Dec. 1, Asian low-density plastic ethylene prices remained stable. The market digested the effects of lower coal prices and the omicron coronavirus variant price regulation, which led to PE futures closing lower on Dec. 1. The omicron variation, wh...

Asian PVC: Prices stable...

Asian PVC: Prices stable ahead of Jan offersJanuary offers are set to be lower than DecemberCompetition in India to intensify after ADD expiryDespite the lack of price discussion before January's release, Asian polyvinylchloride was assessed as stable week-on-week on Dec. 1. Although there were some sporadic December offers in the market, demand was low as market players expected Janua...

Asian Butadiene: Stable a...

Asian Butadiene: Stable amid thin price discussionsChina local prices lowest since Sept. 9Players in term contract discussionsFor the week and day of December 3, Asian butadiene was deemed stable. The weaker Chinese domestic market caused a bearish sentiment in Asia. However, suppliers did not hesitate to reduce their prices. According to market sources, Sinopec China cut its loca...

Asian Propylene: CFR Chin...

Asian Propylene: CFR China marker falls $20/mt on week on soft fundamentalsEast China prices down Yuan 100/mtTaiwan’s CPC restarts RFCC at Dalin refinery Nov 29China's propylene market fell $20/mt- $50/mt in the week ended Dec. 3. This was due to buyers not being interested in imports, given the low cost of domestic materials and weak PP fundamentals. The slight recovery in crude oil pric...

Asian MEG: Weakens on lac...

Asian MEG: Weakens on lackluster downstream demand, sluggish upstreamDeals are done lower on daySome production rates cutDue to falling upstream prices and the lackluster downstream demand, methylene glycol (or MEG) sentiment weakened. The day's deals were lower due to weak domestic Chinese market offers. Some MEG facilities had reduced operating rates due to eroded margins. However...

Asian Ethylene: Participa...

Asian Ethylene: Participants remain cautious about the recent naphtha plungeSome inquiries surface for H2 January arrivalsSpot demand remains low on negative downstream marginsDec. 3 was a quiet day for spot ethylene arrivals. Participants were cautious due to the recent plunge in upstream prices. There were no firm offers or bidding. H2-January arrivals were in high demand according to...

Asian MTBE: Rebound $7/mt...

Asian MTBE: Rebound $7/mt but gains limitedCrude gains 2.83% amid easing fears over omicron92 RON up 2.18%; MTBE factor down 1.20%Asian MTBE gained $7/mt- $12/mt or 0.96% to $738/mt- $&90/mt FOB Singapore Dec 3. This was due to firmer gasoline and crude oil markets, but gains were limited at the end of the trading day. The 92 RON recovered 2.18% to $80.53/b- $110.20/. Meanwhile, the...

Asian Methanol: China, In...

Asian Methanol: China, India moves lower on soft demand, omicron concernsTepid MTO buying sentiment in ChinaOmicron concerns keep Indian buyers at bayHealthy fundamentals prevail in South KoreaAsian methanol prices ended the week lower. Losses led by India and China were mainly due to omicron concerns, weaker crude prices, and tepid demand. As tight supply and healthy downstream demand...

Asian Caprolactam: Falls...

Asian Caprolactam: Falls $45-$90/mt on the week as demand remains sluggishProducers cut contract pricesChina domestic prices stay lowerAsian caprolactam was down $90/mt- $110/mt this week at $2.050/ mt- $2.080 CFR Fareast Asia. It was also down $45/mt- $65/mt to $2,080/mt- $2,120/mt CFR Southeast Asia. This is because demand remains slow. According to company sources, Sumitomo chemical...

Asian Ortho xylene: Falls...

Asian Ortho xylene: Falls with tumbling upstream marketsPA remains under pressureSinopec cuts OX price Yuan 300/mtAsian Orth xylene was evaluated down by $45/mt- $60/mt at $865/mt- $890/mt CRC China on Dec. 3. As the omicron variant rattled the global market, related markets dropped over the week. February ICE Brent Crude oil futures plunged by $5.16/b- $9.20/b in the past we...

Asian Iso-MX: Snaps six-d...

Asian Iso-MX: Snaps six-day losing streak on firm crudeThe market remains significantly lower on weekOPEC+ announcement to maintain current output lifts crudeDec. 3 saw the end of a six-day losing streak in Asian isomer-MX markets, which was influenced by firm crude oil prices. Although isomer-mixed xylene prices rose on the day they were still much lower than the previous week. Iso...

Asian Paraxylene: Rises t...

Asian Paraxylene: Rises tracking gains in crudeDearth of Jan, Feb demand2022 contract negotiations to be patchy: traderAsian paraxylene was valued at $10/m- $50/mt higher on the day, $813/mt- $856/mt CFR Taiwan/China after the increase in February Brent crude oil futures which rose $1.98/b up to $71.88/b. After a week of huge price drops in oil and other markets due to concerns over the...

Asian Solvent MX: Price’s...

Asian Solvent MX: Price’s slump tracking sluggish crudeThin spot discussions, weak demand pushes prices lowerNew COVID-19 variant raises concern about renewed trade restrictionsDec. 3 saw the Asian solvent-mixed xylenes market plummet, in line with the decline in crude oil prices and other markets. The CFR China marker fell sharply compared to other solvent-MX markers. This was due to a...

Asian Benzene: Rebounds o...

Asian Benzene: Rebounds on support from·        styrene market Styrene up $25/mt·        Eneos settles Dec CP at 915/mtAsia benzene saw an increase of $19/mt or $18.34/mt over the week to $875.67/mt- $910/mt FOB Korea Dec. 3. Prices rebounded towards the end due to stronger downstream. Oil prices were affected by co...

MX premiums, fundamentals...

MX premiums, fundamentals stable ICE Brent futures are down $1.71/b, assessed at $69.77/bDue to the Asian market losses on Dec. 2, European paraxylene dropped $12/mt-$13/mt the spot price of paraxylene was $858/mt-$920/mt. Due to low oil prices, Asian paraxylene prices fell $12/mt to $803/mt CFR Taiwan/China Dec. 2. The market fundamentals of European PX were stable with...

PX-naphtha spread widens...

PX-naphtha spread widens slightlyNo trades in MOCAsian paraxylene was valued at $803/mt- $825/mt CFR Taiwan/China Dec. 2, down $12/mt Weak oil prices have caused the price to fall. Brent crude futures for February were at $69.90/b, down $1.91/b. Oil Markets were volatile during the day on Dec. 2, so traders avoided registering offers or bids. During the Market on Clo...

Market under omicron vari...

Market under omicron variant-led uncertaintyPX oversupply expected in H1 2022For the sixth consecutive session, the downward spiral in Asian isomer/mixed xylenes markets continued as weakness persisted in upstream and downstream markets. Isomer MX was down $20/mt Day on day, $681/mt- $720/mt FOB Korea; $706/mt CFR Taiwan; $719/mt- $750/mt CFR China on Dec. 2. During A...

Premiums drop to $90/mt /...

Premiums drop to $90/mt ICE Brent futures are down $1.71/bDespite stable fundamentals, European toluene premiums dropped on Dec. 2, despite a steady market. The trader stated that the fundamentals had not changed on the day. The December premium was $85/mt- $90/mt. This is a decrease of $5.25/mt- $6.50/mt. The January premium was unchanged from December. Despite its...

Ample supplies in Asian m...

Ample supplies in the Asian market continue to pressure pricesDomestic China prices fall over $50/mt on poor demandDec. 2 saw Asian toluene prices continue their downward trend, taking cues from crude oil, upstream benchmarks, and lower downstream prices. As markets waited for the OPEC and its allies' output decisions, prices were lower and worries about the omicron coronavirus lingered...

FOB China deals concluded...

FOB China deals concludedNon-integrated SM margin remains negativeAsian spot styrene monomer prices were down $5/mt on the same day to $998/mt-$1,029/mt CFR China The China domestic price was lower than Yuan 10/mt at Yuan 7.920/mt on Dec. 2 marker Spot discussions in China's domestic market were held at Yuan 7,900- 7,960/mt to ensure prompt delivery throughout the day...

Demand expected to improv...

Demand expected to improve in JanuaryPlant issues hit EBSM productionEuropean benzene prices rose on Dec.2, despite declining January offers. A contango was maintained into the month, based upon expectations of increasing downstream styrene demand. Sources said that another drop in demand occurred when a European ethylbenzene-based styrene monomer manufacturing facility was shut down du...

SM slips $5/mt / Naphtha...

SM slips $5/mtNaphtha down $13.75/mtAsian benzene fell $7/mt to $856.67/mt FOB Korea on Dec. 2, as downstream prices continued to fall. February ICE Brent crude oil future dropped $1.91/b, to $69.90/b by 0830 GMT in Asian trading. Naphtha was down $13.75/mt to $660.25/mt CIF Japan. The China benzene market was stable, and the domestic East China marker was unchanged at Yuan 6,410/m...

Benchmark C+F Japan napht...

Benchmark C+F Japan naphtha remains on a downtrend on falling crude markersNaphtha demand complex supported on tight supply, healthy olefin margins  Dec 2nd saw the Asian naphtha market buoyed by tight Western arbitrament supply and healthy olefins margins. The benchmark C+F Japan naphtha cargo assessment dropped $14/mt on the day, to $674/mt-$700/mt at Asian close on Dec...

AA price expected to decl...

AA price expected to decline for DecemberVAM price expected to remain firm  AA: European acetic acids market fundamentals remained largely unchanged over the week of Dec. 2. The spot market price for Northwest Europe's product was Eur1,600/mt-Eur1650/mt, a steady rate from the previous week. Sources say that prices for South Europe were stable at Eur1,650/mt- Eur1,670/mt...

Butanol spot unchanged am...

Butanol spot unchanged amid stable fundamentalsPA flake demand gets betterThe European market for oxo alcohols was stable during the week ending Dec. 2. There was healthy demand and supply. A producer stated that customers would buy the product before Christmas and keep it in stock for the New Year. The market activity will be less between Christmas and New Year, but it will be stronger d...

2-EH domestic price slide...

2-EH domestic price slides by Yuan 700-1,000/mt on weekSouth Korea's OCI Company restarting PA line following planned shutdownAs a result of a drop in crude oil prices, the CFR China 2-ethyl Hexanol price fell sharply during the week ending Dec. 2. At 4:30 PM Singapore time (0830 GMT), the February ICE Brent crude oil futures contract fell $3.66/b, to $69.9/b A Chinese producer said...

Acetone/phenol unchanged...

Acetone/phenol unchanged on a weekIPA/MEK steady in thin discussion  ACETONE/PHENOL - The European spot price for acetone was Eur700/mt FDN NWE on Nov. 30. This is unchanged from Nov. 23. It follows a trader's indication that the value around this level is consistent. According to a trader, there was no change in the acetone price. According to a trader, the phenol premium to...

ETAC rises on week / Acet...

ETAC rises in weekAcetone and phenol stable on the week  IPA: The US is propylene market for alcohol remained stable over the week of Nov. 30, with relatively stable demand. The feedstock refinery-grade propylene price was stable at 23 cents/lb FOB USG. The spot IPA for December was unchanged week-on-week at $1,585/mt FOB USG and $1635/mt domestic delivered. This as...

Producers cut contract pr...

Producers cut contract prices China's domestic prices stay lower  Asian caprolactam was down $80/mt-$90/mt this week at $2.050/mt CFR Fareast Asia. It was also down $45/mt to $2,080/mt CFR Southeast Asia. This is because demand remains slow. According to company sources, Sumitomo chemical and China Petrochemical Development Corp., both Japan's Sumitomo Chemical settl...

MTBE premium stable at $1...

MTBE premium stable at $120/mt Crude oil falls on news of rising January OPEC+ productionThe European MTBE price dropped on Dec. 2, due to losses in crude oil and upstream gasoline prices. The FOB Amsterdam-Rotterdam-Antwerp MTBE premium to front-month Euro bob gasoline barges at $120/mt- $160/mt, unchanged from the previous appraisal. On the other hand, spot prices fell all over t...

Premium to RBOB stable /...

Premium to RBOB stableTight supply boosts demandThe US spot MTBE price index strengthened for the second straight day on Dec. 2. December spot MTBE 1.66c/gal higher at 238,46 cents/gal FOB Dec. 2. This assumes an unchanged premium of 41.69c/gal to front-month NYMEX RBOB Futures. During the Market on Close assessment process, there were no new offers, bids, or trades. The...

3,000-4,000 mt of S. Kore...

3,000-4,000 mt of S. Korean MTBE seen heading to China92 RON down 0.93%; crude tumbles 2.66% on-dayAsian MTBE dropped $7/mt to $731/mt FOB Singapore Dec 2, due to a tumble in crude oil markets that fell below $70/b. The front-month ICE Brent crude oil futures fell 2.66% to $69.90/b at 4:30 pm Singapore time (0830 GMT). This was due to lingering concerns about demand in the wake omicron varian...

EDC supply remains tight...

EDC supply remains tightVCM prices fall amid PVC declineSentiment in the Asian EDC and VCM markets continued to weaken amid falling prices in the key downstream PVC sector. EDC: EDC supply remained tight and few offers were available on the spot markets. Producers preferred to offer VCM, citing higher production margins. Due to low demand, trade in Southeast Asi...

Buying interest shows lit...

Buying interest shows little strengthTight margins for nylon production While the Asian caprolactam market declined week-on-week, the upstream benzene markets gained ground. The volatility in crude oil prices over the last few weeks, as well as uncertainty about consumer demand after the emergence of the new omicron version of caprolactam, put a strain on buyers' appetite for...

AA price declines on impr...

AA price declines on improved supply VAM price increases on global tightness AA: The European acetic acid market saw a big drop week-on-week due to weaker fundamentals. On Dec. 9, AA was valued at Eur1,350/mt-Eur 1,370/mt for delivery in Northwest Europe, a drop of Eur250/mt-Eur270/mt over the previous week. Prices in South Europe were firm at Eur1,625/mt- Eur1,645/mt. H...

2-EH stable amid balance...

2-EH stable amid balance in marketPA flake market lackluster There were no significant changes in the European oxo alcohols markets from Dec. 9 to December 9, with both supply and demand being heard. A producer said that contract volumes are being delivered on time and that negotiations for 2022 have entered their final phase. According to the producer, spot market activi...

Asian MTBE: $8/mt rises o...

Asian MTBE rose $8/mt on the day to $788/mt FOB Singapore Dec 17, amid a rebound of 92 RON, and a higher 92 RON cracked. Active profit taking led to a 0.19% drop in the front-month ICE Brent crude oil futures, which fell to $74.43/b at 4:30pm Singapore time (0830 GMT). Despite the year-end trading lull, the MTBE spot market discussion remained quiet throughout the week. According to...

Asian Methanol Daily Rati...

CFR China methanol was valued at $319/mt Dec. 17 and down $3 on the same day. This is in keeping with lower domestic prices and limited fixed-price spot discussions. Yuan 35/mt was charged for East China's domestic methanol. This assessment was based on Yuan 2,720-2.725/mt ex tank Dec. 17. CFR Southeast Asia was reduced $13/mt by $427/mt Dec. 17 under an offer of $430/mt. CFR Korea...

Asian methanol: South Kor...

The Asian methanol markets were led by South Korea in the week ending Dec. 17. Prices closed lower by $19 to $41/mt while sentiment in China was bearish for January. South Korea's market was under selling pressure after a seller sold 10,000 mt of South Korean methanol for January. The offer price dropped to $420/mt CFR Korea Dec. 17, down from $450/mt at start of week. There were no takers.&n...

Asian Caprolactam Weekly...

Asian caprolactam was down $5/mt week-on-week for CFR Far East Asia at 2,050/mt Dec. 16, based on a buy indication at $1,950 to $2,000/mt, and a spot sale heard this week at $2,000. CFR Southeast Asia was down $25/mt to $2,050/mt. This is due to a tradable indicator heard at approximately $2,000-$2,100/mt and a relatively weaker demand in the region.

Weekly Report on Asian Ca...

The Asian caprolactam industry was stable to soft in the week ending Dec. 16, in terms of supply-demand outlook, despite slowing demand. Caprolactam buyers were more interested in China than from other regions in Northeast Asia. One supplier signed a spot deal for $2100/mt CFR basis during the week. China's operation rate limitations had forced caprolactam producers to look for supplies...

Asian Styrene Monomer Dai...

Asian SM was down $15/mt at $1,082/mt CFR China on Dec. 17 and $1,062/mt FBO Korea on Dec. 17. The average H2 January laycans and H1 February laycans was used by the marker. During the Market on Close assessment process, there were no transparent offers or bids. H2 January was valued at $1,087/mt CFR China and tracked $21.8/mt lower domestic China price. H1 February was valued...

Asian Styrene: Drops by $...

Asian spot styrene monomer price were down $15/mt today at $1,082/mt to mark CFR China. The China domestic price was lower by Yuan 170/mt to Yuan 8,025/mt prompt marker on December 17. On Dec. 17, China's domestic market saw a decline in futures and physical prices. On the Dalian Commodity Exchange, active traded February 2022 Styrene futures were down by Yuan114/mt or 1.4% to settle on...

Asian Orthoxylene Weekly...

Asian OX was up $4/mt weekly on week at $889/mt China. This is due to higher tradable indicators heard at $880-$890/mt China and $890-$900/mt China respectively, and below a selling indicator heard at $890/mt China. FOB Korea was given an additional $11/mt assessment at $850/mt. This is due to a tradable indicator heard at this level as well as the limited supply and gains in the adjacent mar...

Asian orthoxylene: A shor...

The week ended December 17 saw Asian orthoxylene rise on the back supply tightness expected amid planned maintenance, firm upstream prices and shaking off a bearish downstream market for phthalic anhydride. CFR China orthoxylene rose $4/mt weekly to $889/mt based on market participants' firm indications. Multiple sources also cited limited supply in China as a result of some scheduled turnaro...

Asian Iso-MX Daily Ration...

$4/mt was charged to Isomer MX at $726/mt FOB Korea, $750/mt CFR Taiwan and $768/mt CFR China Dec. 17. The marker is the average of H2 January laycans and H1 February. The Market on Close assessment process did not register any transparent bids or offers. January was valued at $726/mt FOB Korea. This is higher than the bid for H2 January, which was last heard at $725/mt FOB Korea du...

Asian Iso MX: In line wit...

Dec. 17 saw an increase in Asian isomer-grade mixed xylene markets, in line with a stronger downstream paraxylene marketplace, despite a slight fall in crude futures. Isomer-MX was valued up $4/mt on the day at $726/mt FOB Korea and $750/mt Cf Taiwan Dec. 17. At 4:30pm Singapore time, the ICE February Brent crude futures contract closed at $74.43/b, compared to $74.57/b in the previous c...

Asian Paraxylene Daily Ra...

Asian paraxylene was valued at $5/mt at $836.33/mt CFR Taiwan/China Dec. 17 and $816.83/mt FBO Korea Dec. 17. The assessment was recalculated to include the average H1 February, H2 February and H1 March laycans. The H1 February and H2 February laycans were valued at $836/mt. This was higher than the $837/mt bid from SKGC Singapore. However, this bid was normalized to $835/mt because of r...

ASIAN PARAXYLENE: Weekly...

During the week ending December 18, a V-shape movement in Asian paraxylene markets was observed. The CFR Taiwan/China marker fell to $826.83/mt midweek, and rebounded to $836.33/mt Dec. 17. Trader liquidity was less liquid during the holiday season. One source spoke of the cautious attitude taken by participants towards the end of the year. Sources suggested that the market was stil...

Asian Solvent MX Weekly j...

Solvent-MX was evaluated stable at $650/mt FOB Korea Dec. 17 taking into account a tradable indicator heard at the same level. No transparent bids or offers were made. CFR China was valued at $705/mt at the intraday value. This is despite a tradable indicator of $700-$710/mt. An earlier deal of $735-$740/mt CFR China had been heard this week. However, market participants agreed that...

Asian Solvent MX: Stable...

Due to limited movements in crude futures and a slight recovery of demand in certain regions, the Asian solvent-MX market was stable to higher in the week ending Dec. 17. Sources say that although solvent-mixed xylene prices in China were higher this week, these gains were limited by an influx. An earlier deal was reported to have been done for $735-$740/mt CFR China. The market fel...

Asian Toluene Daily Ratio...

Asian toluene was assessed down $6/mt day on day at $694/mt FOB Korea and at $729/mt CFR China Dec. 17. Close assessment process. The marker takes the average of H2 January and H2 February laycans. An H2 January offer was heard offered down at $695/mt FOB Korea and H2 January laycan was assessed below the offer at $694/ mt. The H1 February laycan was assessed at $694/mt, at flat spread to H2 Janua...

Asian Toluene prices cont...

Asian toluene was down $6/mt on the day at $694/mt FOB Korea, Dec. 17. February ICE Brent crude futures fell $0.14/b to $74.43/b. No bids or offers for FOB Korea cargo were received during the Asian morning and afternoon. However, an offer was made for H2 January FOB cargo later. The H2 January offer was initially priced at $700/mt and was then reduced to $695/mt FOB Korea. Accordin...

Asian Benzene Daily Ratio...

Asia benzene was valued at $914.00/mt FOB Korea Dec. 17, down $7.00/mt The marker used the average of H2 January, H1 February, and H2 February laycans. No transparent bids or offers were made during the Market on Close assessment on December 17. February laycans were valued at $917/mt. This is the same as an open trade agreement for February. The January/February physical sprea...

Asian Benzene - Weak sent...

As fundamentals were mixed in the first quarter 2022, weaker trade sentiment cast a shadow over the Asian benzene markets. The January/February structure was unchanged at minus $9/mt, with outright levels turning south. An open trade with South Korea saw a February-loading cargo move hands for $917/mt. FOB Korea's benzene physical fell $7/mt to $914/mt Dec. 17. The CFR China be...

Asia is a hot spot for ca...

Spot export pricing of US acrylonitrile remained unchanged during the week, following a stable assessment by the CFR FE Asia marker Dec. Spot acrylonitrile in the USA was flat assessed at $2,120/mt FOB USG. A potential third consecutive drop was stopped by the stable assessment. Since Nov. 23, the assessment had lost $70. This was due to the decline in upstream propylene monome...

Year-end spot activity sl...

Spot European acrylonitrile prices fell in the week ending Dec. 14, as spot activity slowed ahead of year-end. One source said that most demand was being met by contracts. ACN production margins were being impacted by strong ammonia and propylene prices upstream. Last week, European propylene prices reached record highs following an outage at Dow’s Terneuzen facility toward the end of No...

Taekwang will close 290,0...

South Asia's acrylonitrile prices fell $50/mt from $2,150/mt Dec. 14, the lowest level in 20 week due to low demand in India. According to sources, the demand for acrylonitrile in South Asia was low from the acrylic fiber sector. Sales in the ABS segment have also been stagnant since November's Diwali rush for white goods. A trader in India stated that India's domestic inventories are lo...

Sentiment is influenced b...

The year-end trading slump caused a lull in Asian phenol and Acetone markets. This led to tepid discussions. CFR China's marker was down $10/mt on week at $1210/mt Dec. 14. CFR India phenol was flat at $1290/mt. The phenol prices were limited by supply constraints from Southeast Asia and Northeast Asia. India's phenol imports decreased 14.7% in October to 21,991 mt. Acetone imports...

Butyl and ethyl Acetate w...

ETAC/BUTAC - Ethyl and butyl Acetate gained $200/mt each on the back of continued talks about higher prices. Ethyl Acetate was valued at $800/mt and butyl Acetate was priced at $2,855/mt. According to market sources, ETAC pricing was close to $2/lb. This equates more than $4,000/mt. Small volumes of BUTAC were sold at $1,40/mt or more than $3,000/mt.INDUSTRIAL ETHANOL - US industrial eth...

Acetone steady despite de...

ACETONE/PHENOL - The European spot price for acetone was Eur700/mt FDN NWE Dec. 14, the same as Dec. 7. This is consistent with a trader's indication of a corroborating value around this level FD or DDP. Although prices were stable and there were no significant changes compared to last week's, the supply was still strong. A trader stated that Antwerp's one producer was sold out. Ace...

Prices seen declining ami...

Based on stable pricing indicators, US spot export caustic soda prices remained unchanged week-on–week Dec. 14. They were $725-735/dmt FOB USG. According to a market source, November marked the first month since February that US customers could buy caustic soda volume without any allocations. Sources said that this means all manufacturers can maintain a high production rate while still h...

Limited trade keeps plast...

The US oxo-alcohol markets remained quiet after Dec. 16, closing the year's last assessment. Normal butanol export prices were unchanged at $2,000.05/mt FOB USG, and domestic at 142-143 Cents/lb. The export 2-ethylhexanol price was flat at $2.105/mt FOB USAG and at 129-130c/lb, respectively. The price was determined at the discussed level. Plasticizers: Domestic DINP and DOTP w...

Acetic acid at $1,815/mt...

The US Gulf Coast Acetic Acid prices remained unchanged for the week ended December 16, due to little market change and no fundamental changes. Vinyl acetate monomer was valued at $2,990/mt and AA at $1,815/mt. This week, there were no trades, offers or bids. The nominal values remained stable in the low $1,800s/mt area. The market was previously indicated at $1,800/mt to $2,00...

Minimum 6,000 mt spot tra...

European methanol prices rise day-on-day Dec. 16, due to increased trading activity in spot market. FOB Rotterdam spot price for methanol rose Eur2 to mt, or Eur369/mt Dec. 16. A buyer stated that "Demand remains very strong", supply has moderated a little, but is not yet very healthy. According to the buyer, demand was expected to continue strong until at least Q1, while manufactur...

2-EH domestic prices slid...

Due to low plasticizer demand, the 2-EH CFR China marker dropped $75/mt week by week Dec. 16. Many plasticizer plants such as dioctyl phthalate (DOP), and dioctyl Terephthalate(DOTP) are located in Zhejiang (east China). A number of units have shut down or reduced their run rates, which is driving down the 2-EH domestic price and import price," stated a major Northeast Asian producer.&nb...

Expected to have a signif...

AA: Although Chinese acetic acids prices in East China may have been in a stable range during the week of Dec. 16, Asian regional AA prices dropped $20-$45/mt as South Asian sellers offering AA cargoes at affordable prices to China-based buyers. Sources in the trade expected Chinese acetic acids prices to be soften in January 2022, as demand tends to slow down before the Lunar New Year. The t...

January methanol ZCE up Y...

Chinese coal futures boosted sentiment in the Chinese methanol markets on Dec. 16, but market participants were cautious, and remained off the sidelines. A $354/mt CFR Taicang offer was made for a parcel of non-sanctioned origin of 3,000 mt arriving in China in January. However, it was not clear if any trade took place on Dec. 16. The May active-traded contract on Zhengzhou Commodity Exc...

Spot parcel purchased by...

The Asian caprolactam industry was stable to soft in the week ending Dec. 16, in terms of supply-demand outlook, despite slowing demand. Caprolactam buyers were more interested in China than from other regions in Northeast Asia. One supplier signed a spot deal for $2100/mt CFR basis during the week. China's operation rate limitations had forced caprolactam producers to look for supplies...

The sentiment about the A...

AA: The European Acetic Acid market was mostly stable on the week, despite steady fundamentals. Spot market was slow. AA assessed at Eur1,350/mt on Dec. 16 for deliveredProduct in Northwest Europe is flat for the week. Prices in South Europe were firm at Eur1400-1.450/mt, but prices in the northwest and Germany were in the Eur1,250-1.350/mt area. According to a trader, there was suf...

IBA up to Eur10/mt / PA f...

There were few changes to the European oxo alcohols markets in the week ending Dec. 16. The market had a healthy demand and relatively stable fundamentals. Ineos Oxide declared Force Majeure Dec. 10 on its oxo-alcohols products from the syngas unit in France’s Lavera. Market participants didn't see any significant effect of FM on the week's prices. A trader did not expect a large impact...

Spot drops to an 11-month...

The US Gulf Coast spot-methanol front and forward month's market structure increased to a 2-cent contango December 16. December spot methanol dropped 1 cent to 106c/gal FOB USG. This was an 11-month low following a bid/offer of 104-107c/gal FOB ITC. Spot methanol was at its lowest point on January 14, 2020 when it was at 102c/gal FOB USG. Forward-month January spot Methanol was stea...

Support for benzene emerg...

US December benzene rose 6 cents/gal to 324c/gal on Dec. 16, thanks to support from WTI crude oil futures and amid paper arbitrage opportunities. WTI crude futures were $1.51/b lower on Dec. 16, at $72.38/b. This lends support to benzene talks on the day. Bullish sentiment also emerged during the trade window to inform January's benzene contract prices and supported benzene markets. ...

December Nova: 30.5 Cents...

The US Gulf Coast spot Ethylene was mixed in the morning of December 16 amid low activity. December Mont Belvieu's ethylene was 1.25 cents higher on the day at 30.5 Cents/lb FD Mont Belvieu. Forward-month January Mont Belvieu ethylene rose 1.25cs on the same day to 30.25c/lb FD Mont Belvieu. It also maintained a 0.25-cent backwardation. December and January Choctaw ethylene were sta...

Stability in market dynam...

The European naphtha market was relatively stable on the day, with healthy demand seen from petrochemicals producers, sources said Dec. 16. Despite LPG alternatives to naphtha feedstocks seeing pressure in flat price terms, leading to discounts to naphtha, there remained support for the latter. Some issues in Northwest European crackers, such as Dow's in Terneuzen, appeared to be being g...

As propane prices fall, t...

As the trading cycle progressed, activity emerged in Asia's naphtha markets for February deliveries into North Asia. Japan's Asahi Kasei Mitsubishi Chemical Ethylene Corp. purchased via tender naphtha at a premium of $9.50/mt according to the Mean of Japan naphtha assessment, CFR. Pricing was set 45 days before delivery. Japan's Mitsui Chemicals bought naphtha at a premium of the high te...

Market gains $1.75/mt eac...

Dec. 16 saw support in European styrene prices, with trading showing strong pricing in the market despite talks of production rate recovery in Europe. The forward loading period for styrene was five to thirty days. It rose $1.75/mt, or $1,507.75/mt FBO ARA. For December, there was a trade at $1.525/mt, which indicates that prompt prices are still strong. Sources claimed that restart...

China's losses increase d...

The Chinese domestic market suffered losses and Asian butadiene prices dropped Dec. 16. As buyers had sufficient stock, it was becoming more difficult to negotiate deals on a dollar-fixed-price basis for import cargoes. Congestions at ports made it more difficult to deliver cargoes to east China. Sellers preferred to keep higher selling prices and were not in rush to load cargoes.&n...

Oil 92 RON higher by 0.37...

Asian MTBE rose $3/mt on Dec. 16 to $780/mt FOB Singapore, on the backs of rebounding gasoline prices and oil markets. The gasoline 92 RON rose 0.37% to $85.12/b, while the front-month ICE Brent crude oil futures was higher by 1.76% at $74.57/b at 4:30pm Singapore time (0830 GMT). A bullish US inventory report, and positive sentiment helped the energy market gain. The MTBE spot trad...

Bids and offers are scant...

Dec. 16 saw the Asian propylene market remain unchanged, as market participants were busy negotiating 2022 terms. Spot buyers were not interested in a rise in crude oil prices. The ICE February Brent crude oil futures contract was $1.29/b higher than the previous Asian close of $74.57/b at 4:30 PM Singapore time (0830 GMT). Dec. 16. The spread in price between propylene and polyprop...

Crude rises $1.29/b / ME...

Due to prevailing discussions at the level, Asian mono ethylene glycol was steady day-on-day at $640/mt CFR China Dec. 16, despite a slight increase in prices. The ICE February Brent crude oil futures increased $1.29/b on the day to $74.57/b at 0830 GMT Asian close. High energy prices caused a negative impact on Asia's MEG margins. Sources indicated that ethane-based MEG will be the...

January methanol ZCE up Y...

Chinese coal futures boosted sentiment in the Chinese methanol markets on Dec. 16, but market participants were cautious, and remained off the sidelines. A $354/mt CFR Taicang offer was made for a parcel of non-sanctioned origin of 3,000 mt arriving in China in January. However, it was not clear if any trade took place on Dec. 16. The May active-traded contract on Zhengzhou Commodity...

Selling sentiment continu...

Dec. 16 saw limited deals in Asian Ethylene spot market markets. This was largely due to the persistent gap between sell and buy indications. Sellers were reluctant to lower sell indications due to naphtha volatility, squeezed margins and other factors. Buyers kept buy indications unchanged due to weak derivative demand, negative margins and low margins for high-density polyethylene and...

Negative territory is whe...

Despite higher crude oil prices, Asian toluene was down $10/mt per day to $700/mt FOB Korea Dec. 16. After a quiet morning in Asia with no offers or bids, afternoon trading gained momentum. China domestic values dropped day by day. Yuan 70/mt was the prompt domestic east China ex-tank price. This equates to $755.30/mt if you use import-parity, which is $10.54/mt lower. The Y...

Premiums for floating off...

Even with a second rise in oil prices this week, there was still softer trade activity in the Asian benzene markets on Dec. 16. February ICE Brent crude futures rose $1.29/barrel on the day to $74.57/b at 0830 GMT Dec. 16. This week's contract reached $75.68/b, the highest level since Dec. 13. On Dec. 16, trade sentiments changed to a more cautious tone, as participants too...

February-March continues...

Due to laycan rollover, and an increase in crude oil prices, the downtrend in Asia's para xylene market came to an abrupt halt Dec. 16. CFR Taiwan/China was up $4.50/mt at $831.83/mt. This follows the trend of crude oil, as the ICE February Brent futures contract rose $1.29/b to $74.57/b at Asian closing Dec. 16. Glencore Singapore increased the Asian-origin bid to February laycan t...

Laycan rolled over / SM m...

Asian spot styrene monomer prices fell by $10/mt to $1,097/mt CFR China marker. The China domestic price was lower by Yuan 90/mt Yuan 8,195/mt prompt marker on December 16. Dec. 16 was the last day of laycan. The average H2 January laycan in CFR China and FOB Korean markets was the same as H1 February laycan. Spot prices in China's domestic market remained rangebound throughou...

Stock of East China MX ri...

Dec. 16 saw an increase in Asian isomer-mixed xylene markets, following strength in both the upstream and downstream market. The market was quiet throughout the trading session. However, during the Market on Close process, there was a bid for the second-half of January's delivery cargo at $721/mt FOB Korean. Isomer-MX was valued at $2/mt on day at $722/mt FBO Korea and $746/mt CFR T...

PX up $3/mt / Futures on...

Due to tightening in the market, European MX premiums rose Dec. 16. The December premium was valued at $111.25/mt. This is 25 cents more than the outstanding bid in Market on Close's assessment process. TOTSA offers 2,000 mt for $111/mt premium over Eurobob gasoline. Pricing and delivery December. Sources say the market is very tight due to strong demand and production issues.&...

Exports of EU toluene fel...

Dec. 16 saw stable premiums for European toluene, while fundamentals remained the same. In the absence of any new indications, premiums were estimated at $111.25/mt. According to a source, the market tightness continued. According to Eurostat data, October saw a 57% drop in EU toluene imports to 20,625 mt. Imports fell 41% to 1,238mt. Toluene imports fell 79% year-on-year in...

Gunvor is available at 24...

The US spot MTBE price fell for the third day in a row on Dec. 15. December MTBE 0.75c/gal was lower at 249.2c/gal FOB USG Dec. 15. The assessment was based on a offer of 249.25 cents/gal. Gunvor offered 25,000 barrels loaded Dec. 20-24 at 254c/gal and reduced the offer to 249.25c/gal FOB USG. ATMI also offered 25,000 barrels for Dec. 26-30 at 251.5c/gal. The offer was lo...

Cracker outages have no v...

European benzene prices fell on December 16th, as trading showed that there was ample supply and demand. On Dec. 16, the five- to 30-day forward delivery laycan was reduced by $14/mt to $1,056/mt CIF/ARA. This week's prices jumped after news about cracker outages at Dow Terneuzen since Nov. 30, which led to an increase in prices. Although this led to some speculation about tig...

Phenol price is going hig...

Jennifer Brodbelt: Chemical Science has a broad readership and covers a diverse range of topics. This contributes to its high impact factor and makes it a must-read journal. Serving as a reviewer is a natural part of the whole publishing process, and it is just as important to review manuscripts as it is to submit excellent manuscripts to keep the entire cycle strong. Christine Luscombe:...

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