Chemical Market Update






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  • Market Updates As On 18-01-2020 keyboard_arrow_down
    Styrene Monomer

    SM prices direct upward in Aisa, this week. The price rise made upstream benzene values higher and firmer regional demand trends.
    FOB Korea SM prices went up at USD 910/mt levels, a rise of USD 35/mt from week to week levels.

    CFR China prices went up at USD 935/mt levels, A rise of USD 20/mt from the last week.
    CFR India prices rise up to USD 915/mt levels, an increase of USD 30/mt levels, week on week.
    CFR South East Asia SM prices rise up to USD 920/mt levels, an increase of USD 20/mt levels from the previous week.

    Ethylene

    This week, ethylene prices edged higher in Asia. The price made dense product availability owing an unplanned shutdown at the crackers along with that it also made buying sentiments stronger across the Asian region.
    CFR North East Asia ethylene prices went up at USD 830/mt levels, a rise of USD 45/mt from the last week.
    CFR South East Asia rises up to USD 715/mt levels, an increase of USD 20/mt from the previous week.

    Propylene

    Propylene prices inched higher in Asia, this week. The price rise made dense product availability in the region along with that it also made buying trends stronger in major markets like China.
    FOB Korea propylene prices went up at USD 860/mt levels, up by USD 15/mt from the last week.
    CFR China propylene prices went up at USD 890/mt levels, up by USD 20/mt levels, week on week.
    CFR South East Asia propylene prices rose to USD 925/mt levels, an increase of USD 25/mt from the previous week.
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  • Increase In Crude Oil Price keyboard_arrow_down
    On Friday, Crude oil prices inched higher, followed by sources.

    WTI futures rose by 2 cents making it at $58.54 per barrel, whereas Brent crude rose by 23 cents making it at $64.85 per barrel.

    As industrial production in China escalated annually by 6.9 percent, Crude prices edged higher and retail annualized sales showed an increment of 8 percent.

    The Gross Domestic Product (GDP) of China also ascends 6.1 percent annually.
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  • Import Booking Prices of Chemical Solvents keyboard_arrow_down
    Import Booking Prices of Liquid Chemical Solvents



    Toluene, Mix xylene, Acetone, methanol, phenol booking price
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  • Basic Price Change w.e.f. 17-01-2020 keyboard_arrow_down
    GNFC

    Acetic Acid Basic Price decreased by ₹4.05/kg+GST, New Basic Price ₹33.49/kg+GST
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  • Market Updates As On 17-01-2020 keyboard_arrow_down
    Caustic Soda

    Caustic soda prices direct downward in some parts of Asia, This week.
    FOB North East Asia caustic soda prices went down at USD 261/mt levels, a drop of USD 9/mt week to week. This price fall slides the regional demand trend.
    CFR South East Asia prices remained stable at USD 300/mt levels.

    ACN

    In spite of firmer upstream propylene values, ACN prices tend to decline in Asia, this week.
    CFR East Asia ACN prices were at USD 1430/mt levels, whereas CFR South East Asia prices were at USD 1435/mt levels, both went down by USD 20/mt compared to the previous week.
    CFR South Asia prices remained stable at USD 1460/mt in comparison to last week.

    Propylene

    On Thursday, propylene prices inched higher in some parts of Asia. The price rise assists dense product availability and also improved regional buying trends.
    FOB Korea went up at USD 860/mt levels, a rise of USD 5/mt from day to day levels.
    CFR China propylene prices remained stable at USD 890/ mt/levels.
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  • Plant News As On 17-01-2020 keyboard_arrow_down
    💧 Shandong Chambroad Petrochemicals schedules to take its No. 1 propylene unit offline for maintenance.
    As per the sources, the company will probably start maintenance at the plant by mid-February 2020. The plant seems to remain shut for about four weeks.
    The No. 1 plant has a production capacity of 125,000 mt/year. Located in Shandong, China.

    💧 Hebei Tianlu New Energy Company is likely to undertake its No. 1 methanol unit off-stream owning technical issues.
    Sources tend to believe that, the No. 1 methanol unit was shut on 14 January 2020 due to some technical issues. The exact period of the shutdown is not disclosed.
    The No. 1 methanol unit has a production capacity of 100,000 tonnes/year. Located in Hebei, China.

    💧 Ko Yo Chemical Group has resumed its methanol plant which was shut due to an outage.
    As per the sources, the company has restarted its operation at the plant last weekend. The plant was kept on halt on 3 December 2019 owing short supply of natural gas.
    The plant has a production capacity of 500,000 mt/year. Located in Sichuan, China.

    💧 Qatar Fuel Additives Co (QAFAC) has postponed restarting its methanol plant which was shut due to an unplanned outage.
    The sources say that the company will resume its production line on 1 February 2020. the plant was shut on 4 January 2020 owing to technical issues.
    The natural gas-based methanol plant has a production capacity of 1.1 million mt/year. Located in Messaieed, Qatar.
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  • Market Updates As On 16-01-2020 keyboard_arrow_down
    Benzene

    On Wednesday, benzene prices inched higher in Asia. This price rise made the upstream crude values higher along with that gains are been recorded in downstream SM rates.
    FOB Korea benzene prices went up at USD 730/mt levels, a rise of USd 5/mt on day to day levels.

    Ethylene

    Ethylene prices direct upward in Asia, on Wednesday. The price rise asissts dense product availability, owing to an unplanned cracker shutdown and made strong regional buying sentiments.
    CFR North East Asia ethylene prices went up at USD 820/mt levels, a rise of USD 10/mt from Tuesdays level.
    CFR South East Asia ethylene went up at USD 710/mt levels, rise of USD 5/mt week on week.

    SM

    On Wednesday, benzene prices inched higher in Asia. The price rise made upstream benzene values higher, along with that it also improved regional buying sentiments.
    FOB Korea downstream SM prices went up at USD 885/mt levels, on Wednesday. A rise of USD 5/mt from Truesdays level.

    CFR China prices increased to USD 925/mt levels, rise of USD 5/mt from day to day level.

    Toluene

    Toluene prices tends to increase in Asia, on Wednesday.The price rise made upstream crude and gasoline rates higher.
    FOB Korea toluene prices went higher at USD 695/mt levels, rise of USD 5/mt from day to day level.
    CFR China toluene prices went higher at USD 690/mt levels, rise of USD 5/mt from Tuesdays level.
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  • Declining Crude Oil Prices keyboard_arrow_down
    Crude oil price tends to decline slightly on Wednesday after weekly data from the US Energy Information Administration (EIA) disclose a bigger than expected rise in the U.S. gasoline and distillates inventories.

    Brent crude went down by 0.76% making it $64.00/barrel, whereas WTI crude futures dropped by 0.76% making it $59.61/barrel.

    Prices slid, as the US Energy Information Administration (EIA) reports that, the U.S. gasoline stockpiles reached 6.68 million barrels, and distillate inventories raised by 8.17 million barrels, for the week ended January 10, 2020. Although, Crude oil stockpiles fell by 2.5 million barrels.
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  • Basic Price Change As On 16-01-2020 keyboard_arrow_down
    Reliance

    Toluene Basic Price Increased By ₹4.00/kg+GST, New Basic Price ₹65.00/kg+GST

    Mix Xylene Basic Price Increased By ₹4.00/kg+GST, New Basic Price ₹56.00/kg+GST
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  • Market Updates As On 15-01-2020 keyboard_arrow_down
    Propylene

    On Tuesday, propylene prices edged higher in Asia. The price gain by limited product avail and made strong regional buying.
    FOB Korea prices went up at USD 850/mt levels, an increase of USD 5/mt on a day to day levels.
    CFR China propylene prices went up at USD 855/mt levels, an increase of USD 15/mt from Mondays level.

    Methanol

    Methanol prices direct upward in the South East Asia region, on Tuesday. This price gain made a strong demand trend and weakens product availability.
    CFR South East Asia methanol prices went up at USD 3000/mt levels, an increase of USD 11/mt levels on a day to day levels.
    CFR China methanol prices remained stable at USD 249/mt levels.

    In the local markets of China, methanol prices were at Yuan 2460/mt levels.

    Ethylene

    On Tuesday, ethylene prices edged higher in Asia. The price gain by limited product avail and made strong demand trends.
    CFR North East Asia ethylene prices went up at USD 810/mt levels, an increase of USD 10/mt on a day to day levels.
    CFR South East Asia ethylene prices went up at USD 705/mt levels, an increase of USD 5/mt from Mondays level.

    Toluene

    On Tuesday, toluene prices tend to decline in Asia. The fall in price made the upstream crude and gasoline rates weaker, along with the regional demand trends.
    FOB Korea toluene prices went down to USD 690/mt levels, a fall of USD 5/mt on a day to day levels.
    CFR China toluene prices went down to USD 685/mt levels, a fall of USD 10/mt from Mondays level.

    MEG

    On Tuesday, MEG prices tend to direct upward in Asia. As the price rise didnt fluctuate the buying trends and continued to remain strong and stable along with with the higher ethylene feedstock rates, but limited product avail.
    CFR China MEG prices go up at USD 615/mt levels, a rise of USD 5/mt from Mondays level.

    Benzene

    On Tuesday, benzene prices edged lower in Asia. The decline in prices made upstream energy values weaker, along with buying trends in the region.
    FOB Korea downstream benzene prices on Tuesday were seen to be at USD 725/mt levels, a drop of USD 5/mt on day to day levels.
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  • Plant News As On 15-01-2020 keyboard_arrow_down
    💧 Integrated Refinery and Petrochemical Co (IRPC) seems to shut its Polypropylene (PP) plant due to some technical issues.
    Sources tend to believe that the company plans to put the plant under maintenance in early-February 2020. The plant will probably remain offline for around 4-5 weeks.
    The PP plant has a production capacity of 775,000 mt/year. Located in Map Ta Phut, Thailand.

    💧 Asahi Kasei, Japan has shut down its Styrene Monomer (SM) plant for a while owing to a feedstock availability.
    As per the sources, the company has shut its plant operation on 14 January 2020. Further information regarding the plant shutdown is not been disclosed.
    The SM plant has a production capacity of 390,000 mt/year. Located in Mizushima, Japan.

    💧 Asahi Kasei has taken off its cracker due to technical issues.
    Sources tend to believe that the company has planned to shut down the cracker on 14 January 2020. Further details regarding the shutdown are not been disclosed.
    The cracker has an ethylene production capacity of 570,000 mt/year. Located in Mizushima, Japan.
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  • Market Update of MEG, Styrene and Toluene. keyboard_arrow_down
    💧 Crude Oil Prices Fell Yesterday due to ease in the geopolitical tensions in the Middle East.
    WTI fell from $59.04 to $58.08 & Brent from $64.98 to $64.29 Yesterday.



    💧 MEG CFR China Price went Up by $10/mt, from $600 to $610/mt yesterday, because of gains in the Ethylene Price in China,
    Ethylene price went up by $15/mt, from $785 to $800/mt.


    💧 SM Price surge by $5/mt yesterday, from both FOB Korea & CFR China to $880/mt & $920 respectively, due to high Benzene price & limited stock availability.
    Benzene price went up by $10/mt to $730/mt from CFR China.


    💧 Toluene prices also Drift higher by $5/mt yesterday
    $695/mt from both CFR China & FOB Korea.
    The price gain was a result of improved demand trends in the region and higher benzene rates.

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  • Propylene plant in China went shut. keyboard_arrow_down
    🧪 Propylene


    💧 Shandong Shenchi Chemical's, No. 1 propylene unit Located at Dongying, in Shandong province of China, having a production capacity of 200,000 mt/year, has stopped the operations of the plant on January 10, 2019. The plant is likely to remain off for about 6 to 7 weeks.
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  • Methanol Market Surged Today. keyboard_arrow_down
    Methanol Import Prices


    CFR China from $249 to $251/mt +12
    CFR SE Asia $289-291/mt No Change
    Domestic China $2469 to 2470/mt +200



    Indian Ex Tank prices went up today by ₹1 -1.5/kg, Ex Kandla price ₹22.50/kg same from Hazira & Mumbai.
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  • Market update about Methanol keyboard_arrow_down
    Methanol in China price went up by 105 - 145 yuan/mt,

    relating to the news that some of the plants in Iran are going shut.

    it is confirmed that Zagros Petrochemical Company having 16.5 lakh mt production capacity, went shut due to the unavailability of gas because there is rationing on gas, its possible other plants may also get affected.

    Status of Methanol Plants as on 13.01.2020
    1) Zagros Unit 1 shut down (Iran)
    2) Zagros Unit 2 shut down (Iran)
    3) Kaveh shut down (Iran)
    4) Qatar Fuel Additives Company (Qafac) shut down (Qatar)
    5) Fanavran Petrochemical Company, running @55-60% (Iran)
    6) Busher, shut down (Iran)
    7 ) Two major Methanol plants in China shut down
    (As per Sources)
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