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Weekly Summary

Petrochemicals: Jan 6-10: Ethylene strengthens on tight supply caused by production cuts

Aromatics
The Northeast Asia aromatics market was affected by the fluctuating crude market. Regarding supply, Asian makers were enhancing production cuts but perceptions of ample supply were not receding since new refineries were starting up in China. As for demand, US-China trade discussions were expected to progress but buying interest from buyers was not strong.

 

Olefins
The CFR Northeast Asia ethylene market increased slightly. Several ethylene makers lowered production at their naphtha crackers because of low profitability. Term discussions for 2020 had not been concluded completely and these makers were decreasing shipment volumes of term and spot cargoes. On the other hand, end-users had to procure spot cargoes to replace term cargoes. For this reason, views were heard that supply/demand might tighten and the market might rise going forward. In the middle of the week, a cargo for delivery to China in February was reportedly traded at about $780/mt. Apart from this, firm discussions were not heard.

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