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Weekly Summary

Petrochemicals: Jul 26-30: Butadiene rises sharply on tight supply/demand

Aromatics

The FOB Korea benzene market increased in the first half of the week but after that, prices fell back. Although firmness in US benzene prices supported the market, the upper end was capped by softening derivative prices in Asia. The CFR Northeast Asia paraxylene (PX) market strengthened. In Zhengzhou, where PTA futures are listed, floods occurred along with heavy rain. Owing to concerns that procurement of PTA might be interrupted, PTA futures increased sharply and this also pushed up PX prices.

 

Olefins

In the Northeast Asia ethylene market, movements were thin. As benchmark feedstock naphtha prices were firm and supply was not ample, sellers were not in a rush for sales. On the other hand, since new facilities were expected to start up and facilities that were shut down were perceived to restart, prices might soften going forward and end-users were not in a rush to buy as well.

 

The Asia propylene market was supported by high feedstock costs. In Northeast Asia, demand was not strong but as feedstock costs were high, not many imported cargoes were available and sellers adopted a firm stance. Under this situation, prices were gradually moving up.

 

The Asia butadiene market strengthened. In Northeast Asia, few spot cargoes were seen and sellers adopted a bullish attitude. On the other hand, end-users had no choice but to bid up to sellers in order to maintain production.

 

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