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Petrochemicals: Sep 2-6: Toluene and MX firm on startup of PX facilities in China

2019/09/09 07:00

Aromatics

FOB Korea benzene prices increased in the second half of the week due to a rise in crude prices. FOB Korea toluene and mixed xylene (MX) prices strengthened. In China, new paraxylene (PX) facilities were starting up and demand for feedstock MX was increasing. Buying interest for imported cargoes was also stimulated by demand for use as a gasoline feedstock. On the other hand, the PX market was curbed due to the startup of the facilities.

 

Olefins

CFR Northeast Asia ethylene prices decreased slightly. It was heard that SP Chemicals’ new ethylene facility started operating and the company started shipment. As a result, buying interest from end-users in China for imported cargoes receded. As profitability of many derivatives was not secured, end-users in other countries also did not show buying interest. On the other hand, sellers were not in a rush to sell as production decreased at several ethylene facilities in Asia due to maintenance or troubles. For this reason, few bids and offers were seen.

 

The Asia propylene market was quiet. In Northeast Asia, with new facilities starting up in China, supply was on an uptrend and buying interest from end-users receded. On the other hand, sellers were in no rush to sell since supply was still tight owing to facility maintenance within Asia. As a result, discussions were thin. On an FOB Korea and a CFR Southeast Asia basis, few bids and offers were heard.

 

The Asia butadiene market rose on the back of tight supply arising from facility maintenance. But since derivative synthetic rubber prices were languishing, end-users were cautious about spot purchase. In Southeast Asia, one maker sold 1,700-2,000mt loading October via a tender.

 

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