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Weekly Summary

Petrochemicals: May 18-22: Ethylene increases further on tight supply for Jun

Aromatics

The Asia aromatics market was pushed up by firm crude prices until the middle of the week. But after that, crude prices fell back sharply and the aromatics market was weighed down. Stocks of some petrochemical products were seen to be increasing in China and this apparently curbed the upside of aromatics prices.

 

Olefins

The CFR Northeast Asia ethylene market increased further since supply was in shortage due to maintenance and troubles at naphtha crackers in Asia. A sell tender conducted by Taiwan's Formosa Petrochemical Corp (FPCC) this week was awarded at $650/mt and above on an FOB basis. Considering this price, costs for sellers on a CFR China basis were said to be at $680-700/mt. On the other hand, for cargoes to be delivered from July onwards, available cargoes from outside the region were seen and views were heard that perceptions of tight supply might recede going forward.

 

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Tokyo : Petrochemicals Team  Shinnosuke Tagusari   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.