Chemical Prices - Brent unrefined petroleum fell $2.13/b to $61.64/b Tuesday




- 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 before the aromatics unit started to deliver payload.

Sources have likewise said that the principal shipment of paraxylene from the plant might be prepared to transport during early December yet this couldn't be affirmed.

In the interim, a source near a huge Chinese sanitized terepthalic corrosive or PTA producer said that PX generation from Brunei-based Hengyi Petrochemicals was increase with significant amount submitted for conveyance during December into China (Chemical Prices).

Upside on costs appears to be restricted in a market in which so much limit is coming on the web, said one Singapore based merchant. Prior PX limit options in China drove costs toward the south, he included, yet there was never this extent of limit included before, and consequently the effect on costs this year has been progressively extreme.

The spread between PX-naphtha limited to a 5-year low of $223.125/mt last Tuesday because of the falling PX costs and solid naphtha (Chemical Prices).

www.chemicalsprices.com

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