RIM Market News >  Weekly Summary

Petrochemicals: Aug 5-9: Ethylene gains further on stronger buying interest

2019/08/12 07:00

Aromatics

The Asia aromatics market was bearish. Prices for each aromatic product were pushed down by concerns about intensifying US-China trade conflicts and a sharp decline in crude prices along with this.

 

Olefins

CFR Northeast Asia ethylene prices increased from the previous week. Discussions for September delivery cargoes were still taking place. Buying interest got stronger from end-users that had yet to finish procure necessary cargoes. Since several naphtha crackers in Taiwan and Southeast Asia were scheduled to undergo maintenance from August, available cargoes were limited. Cargoes brought from outside the region were also scarce. Under these circumstances, supply/demand was tight. Several deals for September delivery were heard in the range of $920-950/mt by the middle of the week. A rumor was also heard that a deal was done at $965/mt.

 

In the Asia propylene market, FOB Korea prices rose slightly. In Northeast Asia, amid weakness in the China domestic market, buying interest from end-users was thin. On the other hand, sellers had few cargoes on hand and did not indicate offers. As a result, no deals were reported and activity was subdued. On an FOB Korea basis, supply was tight due to facility maintenance and troubles.

 

The Asia butadiene market moved up owing to supply tightness arising from maintenance of naphtha crackers in Asia and limited availability of non-regional cargoes. Several end-users could not buy necessary cargoes. In Southeast Asia, Thailand’s PTTGC sold 1,700-2,000mt loading Sep 2-6 via a tender.

 

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