Aromatic Products Asian Express

Sinochem New Network News benzene by WTI (US West Texas Intermediate crude oil) ** price rose to 107 US dollars / barrel of support, the Asian price stability firm. In Northeast Asia, cargo shipments were active in June, and prices mainly followed the trend of crude oil and US benzene market. The shipment price for shipments at the end of June was 1,190 US dollars (ton price, the same below, FOB, Korea), which fell by 10 dollars from the previous day. During the middle period, the transaction price for cargo in June was between 1,175 and 1,180 USD (FOB, South Korea), a decrease of 35 USD from the beginning of the period of 1210 to 1215 USD. In Southeast Asia, the talks were limited. In the beginning of this period, the cargo price was US$1215 (CFR, Singapore).

** Current Asian ** market prices are higher, mainly due to tight supply in some parts of Northeast Asia. In North-East Asia, the South Korean market was mostly traded in June shipments, and the transaction price was 1120 to 1152 U.S. dollars (FOB, South Korea). In May, shipment shipments were limited. The shipment price for shipments in the first half of May was US$1,148 (FOB, South Korea), and then fell to US$1,115 to US$1,130. The quotation for shipments in May was about US$1,145. The intention to purchase in the Chinese market is approximately US$1,155 (CFR, China), which is synchronised with the price movement in the Chinese mainland market. The quotation is approximately US$1,170 (CFR, China). Some Southeast Asian, Singaporean and Malaysian distributors reported delivery prices of approximately US$1,200.

The price of isomerized xylenes rose by 10 to 20 US dollars, and the demand in the Japanese market continued to support the popularity among traders in the current period, although most companies believe that prices have little potential for growth. South Korea’s KP Chemicals Co., Ltd. sold a ship of 3,000 tons of cargo delivered in the second half of May to SK Global Chemicals at a price of US$1,325 (CFR, Taiwan, China). At the close of the current period, shipments for shipments in May were quoted at $1,305 (FOB, Korea), and the purchase price was about $1,290 (FOB, South Korea).

Solvent xylene was tight due to regional supply and crude oil prices strengthened, and prices rose by another 40-55 dollars. The tight supply in the Korean market is mainly due to the fact that production plants are still shutting down, and sellers are holding back prices because they expect prices to be higher in the coming weeks. The intent price of shipments for shipment in May was approximately US$1,200 (FOB, South Korea), and the purchase price was approximately US$1,170 (FOB, South Korea). In the Mainland China market, the transaction and bargaining price in the East China region was 9,150 yuan (out of library price), and that in the South China region was 9,400 to 9,450 yuan (outbound warehouse price).

Due to the large supply of paraxylene in May delivery, the spot price fell for the fifth consecutive week. According to South Korea's S-Oil management, the company's new unit will produce qualified aromatics during the current period. This unit can produce up to 900,000 tons of paraxylene and 300,000 tons of benzene per year. The company is said to have delivered more than 50,000 tons of goods in May. At the same time, CNOOC stated that it restarted its 900,000 tons/year paraxylene plant in Huizhou from April 17 to April 18, after a 45-day planned maintenance of the unit. Although the popularity is weak, market participants still believe that the spot price of paraxylene may be near the 1600 US dollars (CFR, China's main port) gate.

The spot price of o-xylene rose by 15-20 dollars. Northeast Asia, the market valuation rose 15 to 20 US dollars, in May purchase intention price of about 1,290 US dollars (CFR, China), but the intention of the seller to suppress the price, they expect prices in the next few weeks will rise. In the Chinese mainland market, Sinopec raised its price by 200 yuan to 9400 to 9500 yuan. In South Korea, the delivery price for delivery in May rose to 1310 to 1320 U.S. dollars (CFR, South Korea) because of supply shortages. In Southeast Asia and India, the offer price rose to $1350 (CFR, Southeast Asia/India), and the purchase price of interest remained at around $1300 (CFR, Southeast Asia/India).

The price of styrene rose further because of the improved sentiment after the ban on polystyrene foam in the Chinese construction industry. Market participants expect that increased demand in China will provide support for further price increases. In the spot market, the market was active in the first half of the current period, and the price rose sharply. The transaction price for cargo in May was 1465 to 1475 USD (CFR, China, Letter of Credit for 90 days). The cargo price for the second half of April was $1,450 (CFR, China, Letter of Credit for 90 days). However, the price of mid-term energy prices fell below US$105/barrel, which weighed on the price of styrene, and the transaction settlement price in May dropped to US$1,450 to 1,460 (CFR, China, letter of credit for 90 days). In the second half of the current period, as the price of crude oil ** rebounded, the price of styrene rebounded again. The intention to buy and sell cargoes in May rose to 1455 to 1480 US dollars (CFR, China, letter of credit for 90 days), and the FOB Korea price was 1,440 to 1,460 US dollars. At the end of the period, the intention to buy and sell in May was 1450 to 1470 U.S. dollars (CFR), and that for bonded warehouses was 1,420 to 1,440 U.S. dollars.