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Petrochemicals: Feb 4-8: PX firm on limited supply before maintenance

2019/02/11 07:00

Aromatics

Prices of benzene and toluene on an FOB Korea basis showed little change on most days of the week as the export destination China market was closed for Lunar New Year. On the other hand, the mixed xylene (MX) and paraxylene (PX) markets strengthened. The markets seemed to be bolstered by perceptions of limited supply owing to an upcoming maintenance season.

 

Olefins

The ethylene market in Northeast Asia was quiet as major consumer countries including China and Taiwan were on holidays. However, perceptions of low supply strengthened since it was reported that some naphtha crackers in the region were experiencing malfunctions. Prices were seen to depend on end users’ movements after the holidays, as a rise in ethylene costs could not be passed on to most derivatives.

 

The Asia propylene market was quiet. With naphtha crackers in Asia undergoing maintenance going forward, supply was seen to be tight and the market was expected to be firm. On the other hand, propylene and derivative stocks rose before the Lunar New Year holidays and some sources reckoned that immediately after the holidays, the market might lack upward momentum.

 

The Asia butadiene market showed no movements. As many demand countries were on holiday, buyers were absent and talks were thin. Some players were concerned about how recent sluggish car sales in China would affect synthetic rubber demand for tire use.

 

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Tokyo : Petrochemicals Team  Shinnosuke Tagusari  +81-3-3552-2411
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