Chemicals Prices

** Chemical News. - Toluene stable after rallying earlier - Demand in India stays firm The Asian toluene market took a breather Wednesday, following two consecutive sessions of gains. FOB Korea stood at $687/mt on Wednesday's Asian close, unchanged on the day, but was still at the highest point in nearly three months  (Chemical News) . In the wider backdrop, key crude and naphtha prices barely changed. At 0830 GMT Wednesday, February ICE Brent crude futures was at $64.12/barrel, up 3 cents/b from Wednesday. In India, supply streaming from Iran was described to be uncertain, one trader said, and that kept trading sentiments in both Kandla and Mumbai upbeat. Discussions for toluene cargoes in India were heard to be around high $70s/mt premiums to FOB Korea marker, the same trader said. Gasoline-blending trend in India had equally resurfaced, the trader added. However, what had been supporting India and the rest of the Northeast Asia region off late, was missin...

Taiwan’s CPC will make available to its customers 94% of January’s term volumes, up from 85% for December, as its steam cracker is undergoing scheduled maintenance, a source close to the company said Satursday. CPC shut its No. 4 steam cracker in Linyuan from November 8 to mid-January for maintenance and has reduced its propylene term volumes to customers as a result. The No. 4 cracker can produce 380,000 mt/year of ethylene and 193,000 mt/year of propylene. Despite growing term supply, the CFR Taiwan propylene marker was assessed at $845/mt Satursday, which commands a $15/mt premium over the CFR China marker. The premium stood at $5/mt last week. “There is too much supply in China, it is difficult to sell in China unless you are willing to sell at $830/mt CFR China,” a Japanese trader said. CPC has also increased ethylene term volumes for January to 89%, up from 65% in December. “There is not much turnaround in January once we restart our No.4 steam cracker. So, we can afford t...

- Sinopec increments recorded cost by Yuan 200/mt to Yuan 5,750/mt  - Demand from China confined to mid-January, February  The FOB Korea benzene benchmark was surveyed up $3.67/mt on the day at $734.67/mt Wednesday  (Chemical Industry) .  Day-on-day value gains were topped Wednesday with upstream ICE Brent and Mean of Japan naphtha evaluations crawling up just somewhat. February ICE Brent raw petroleum fates were up 22 pennies/b on the day at $64.12/b Wednesday, while MOPJ naphtha was surveyed up $1.38/mt at $575.50/mt over a similar period. In the local East China showcase, China Petroleum and Chemical Corporation, or Sinopec, a significant Chinese benzene maker, on Wednesday expanded its residential ex-tank cost by Yuan 200/mt, the second time that costs have been expanded throughout the week paving the way to Wednesday (Chemical Industry) . The recorded value currently remains at Yuan 5,750/mt, an organization source said. This is comparable to...

Indorama buys PET recycling firm in US  Indorama Ventures Satursday said it acquired a 100% equity stake in Green Fiber International Inc., a producer of recycled polyethylene terephthalate flake, or r-PET flake. The company did not disclose the financial details of the transaction. The r-PET flake plant has a capacity to produce 40,000 mt/year. The acquisition is part of the company’s plan to invest in recycling over the next five years. “The proximity of the facility to a large supply of recovered PET bottles on the US West Coast will create new opportunities to meet the increasing demand for r-PET in more sustainable packaging solutions,” said Indorama in a statement. Taiwan’s Nan Ya to restart No.4 MEG unit after maintenance on Satursday  Taiwan’s Nan Ya Plastics Corp, a subsidiary of Formosa Plastics Group, plans to restart its 720,000 mt/year No.4 monoethylene glycol unit at Mailiao on Satursday, a source close to the company said. “The raw material will b...

* Snugness in supply from Korea and Japan to Southeast * Asia Strong benzene expected to help in general aromaticsedges Chemicals Prices : The Asia benzene benchmark flooded $50/mt on the week to be evaluated at $708/mt FOB Korea Satursday, with snugness in supply over the Asian market driving costs to levels above $700/mt. The FOB Korea benchmark transcended the $700/mt level Satursday, with one market source hailing the expansion as a "defining moment at benzene costs". In the North Asian markets, sources had noticed on numerous occasions throughout the week that both Korean and Japanese stockpile for January-stacking was restricted, on the rear of aromatics unit rate cuts which have left makers with low stock levels. Rate cuts at different plants were heard over H2 2019, as the paraxylene-naphtha and benzene-naphtha spreads were experiencing strain, bringing about restricted edges over the key aromatics items. With low inventories, makers were not in a race ...

- Fuihaichuang restarts No 2 line - Zhejiang produces naphtha Brent unrefined petroleum fell $2.13/b to $61.64/b Tuesday, while the benchmark Asian CFR Taiwan/China paraxylene marker was down $7.16/mt at $791.17/mt CFR Taiwan/China. Market members were bearish about the possibilities of PX in January and February, after China's Fuhaichuang Petroleum and Petrochemical, in the past known as Dragon Aromatics, restarted its 800,000 mt/year No. 2 paraxylene line before the end of last week, getting additional provisions to the market. This is notwithstanding the looming fire up of new limit in the state of Zhejiang Petrochemicals 400,000 mt treatment facility in Zhoushan territory. Despite the fact that the aromatics unit has still not got done with testing and generation, showcase sources said that the treatment facility has effectively created naphtha in the course of the most recent end of the week and it involved time before the aromatics unit started to ...

** Chemical Update - Crude markers, naphtha retreat during Asian hours - Demand remains lukewarm for isomer-MX Asian isomer-grade blended xylene costs were surveyed down $10/mt on the day at $679/mt FOB Korea and down $9.50/mt CFR Taiwan Tuesday. Front-month ICE Brent unrefined petroleum prospects, presently indicating the February contract, withdrew $1.80/barrel from the past session, to $61.34/b at 0830 GMT in Asian exchange Tuesday. Benchmark CFR Japan naphtha physical fell $30.63/mt on the day, remaining at $545.25/mt Tuesday (Chemical Update) . Flimsier fundamental unrefined prospects and naphtha marker burdened the Asian isomer MX showcase Tuesday. The Asian isomer MX advertise traveled into the January exchanging cycles, however the estimation has been blended in with respect to the arrival of spot purchasing interests from key members, especially from China. A few dealers were of the view that interest for isomer MX as feedstocks would before ...

- East China costs plunge on more fragile vitality - Luxi MTO plant startup could spike request China household methanol costs were lower Tuesday than toward the finish of a week ago in the midst of a decrease in China's local prospects advertise in the midst of more fragile vitality esteems. Zhenzhou methanol fates for January 2020 shut at Yuan 1,926 Tuesday, down 1.48% from last Tuesday (Chemical Update) . The falling fates showcase applied descending weight on the physical market as both offer and offer levels inclined lower. Anyway the effect on the US dollar-designated showcase stayed constrained as exchange movement Asia was generally quieted by mindful estimation. The startup of China Luxi's new methanol-to-olefins or MTO plant last Tuesday may bolster residential interest going ahead, an organization source said Tuesday  (Chemical Update) . The plant, which can create 180,000 mt/year of propylene and 120,000 mt/year of ethylene, was p...

- Fuihaichuang restarts No 2 line - Zhejiang produces naphtha Brent unrefined petroleum fell $2.13/b to $61.64/b Tuesday, while the benchmark Asian CFR Taiwan/China paraxylene marker was down $7.16/mt at $791.17/mt CFR Taiwan/China (Chemical Prices) . Market members were bearish about the possibilities of PX in January and February, after China's Fuhaichuang Petroleum and Petrochemical, in the past known as Dragon Aromatics, restarted its 800,000 mt/year No. 2 paraxylene line before the end of last week, getting additional provisions to the market. This is notwithstanding the looming fire up of new limit in the state of Zhejiang Petrochemicals 400,000 mt treatment facility in Zhoushan territory  (Chemical Prices) . Despite the fact that the aromatics unit has still not got done with testing and generation, showcase sources said that the treatment facility has effectively created naphtha in the course of the most recent end of the week and it involved time bef...

Chemical Prices - Jan CFR China offer heard at $682/mt, premise Korea cause - India nearby toluene cost unaltered at Rupee 55.5-56/kg Entering the new month of December neglected to infuse any idealism into the Asian toluene advertise Monday, with key FOB Korea and CFR China markers remaining level day on day. The FOB Korea marker was evaluated level at the pegged degree of $660/mt Monday, without purchasing and selling premium got notification from showcase members on the day ( Chemical Prices ) . Then again, a high offer of $682/mt CFR China for conveyance in January 2020, premise Korea source, was heard in the early evening of Monday's exchanging session. Nonetheless, showcase members had blended emotions about the $682/mt offer, which was standardized to $677/mt premise open starting point. A Southeast Asia-based broker induced that the bidder was attempting to pass on the danger of higher winter cargo to the vender. "It is very costly rea...