News Search

News Search

Search Period

  1.  / 
  2.  / 
  3.    
  4.  / 
  5.  / 
  6.    

Weekly Summary

Petrochemicals: Aug 1-5: Aromatics prices fall along with crude market

Aromatics

The aromatics market in Northeast Asia softened in the second half of the week along with a fall in crude prices. Demand for gasoline was peaking out and demand for aromatics as feedstocks of gasoline was also declining. This was also seen to be a bearish factor on the market.

 

Olefins

In the ethylene market in Northeast Asia, supply/demand was still slack as demand and profitability of ethylene derivatives were worsening. In trade for ethylene this week, a deal for a cargo to be delivered to China at the end of August was heard at $850/mt. But in South Korea, several petrochemical makers were scheduled to conduct maintenance of ethylene facilities in September onwards and some makers decided to move forward their maintenance. For this reason, supply for ethylene was expected to decrease going forward.

 

In the Asia propylene market, a wait-and-see mood was strong. In Northeast Asia, production cuts continued and supply was tight. On the other hand, demand for derivatives was sluggish and end-users showed scant buying interest. In Southeast Asia, Thailand's PTTGC conducted a sell tender but the tender was not awarded.

 

The Asia butadiene market moved down. While Chinese cargoes were ample, buying interest was thin and supply/demand slackened. Under such circumstances, market sentiment was bearish.

 

PetChem Wkly220805.png

 

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