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Weekly Summary

Petrochemicals: Sep 20-24: Benzene prices fluctuate along with crude

Aromatics

In the FOB Korea benzene market, discussion levels reached $1,000/mt in the first half of the week. But after that, prices fell back sharply to the low $900's/mt along with a decrease in crude prices. Crude prices were recovering after the fall and benzene prices were also rebounding. The CFR Northeast Asia paraxylene market was curbed by weak demand for downstream products and a fall in PTA futures and polyester fiber futures on the Zhengzhou Commodity Exchange.

 

Olefins

In the Northeast Asia ethylene market, discussions were subdued as China, Taiwan and Korea were on long holidays until the first half of the week. In China, the government was promoting energy conservation policies and several derivative facilities were forced to be shut down or to reduce operation rates. Therefore, ethylene demand was said to be decreasing.

 

In the Asia olefins market, players were limited as many countries were on Mid-Autumn Festival holiday.

The Asia propylene market fell slightly due to thin buying interest from Chinese end-users. In China, several derivative facilities reduced production or halted operations due to a power shortage and measures taken to curb environmental pollution.

 

The Asia butadiene market softened due to perceptions of ample supply. Two Southeast Asian makers moved to sell October loading but no deals were reached as buyers were not seen.

 

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