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Weekly Summary

Petrochemicals: Jun 3-7: Ethylene prices seen to be hitting bottom


Benzene prices on an FOB Korea basis decreased sharply in the middle of the week along with a fall in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish. In the previous week, prices had increased due to a fire at Hengyi Brunei but prices softened this week in reaction.



In the CFR Northeast Asia ethylene market, it was the time to discuss on July cargoes but activity was muted. Due to a recent fall in ethylene prices, some South Korean ethylene makers were planning to decrease operation rates in July. Although demand was still weak and supply/demand was slack, selling pressure on makers was receding.


The Asia propylene market was bullish.

In the CFR Northeast Asia market, there were few available cargoes while buying interest from China was rising. As a result, market sentiments were strong. In the FOB Market, Taiwan's CPC sold spot cargoes loading June.

In the Southeast Asia market, a Malaysian petrochemical maker conducted sell tenders. A petrochemical maker in the Philippines also sold spot cargoes.


In the Asia butadiene market, a wait-and-see mood was strong. There were few available cargoes and trade was muted in general.


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