Pemex has begin running its steam crackers at 100% and plans to increase its polyethylene run rates over the next two months in the wake of improved ethane feedstock availability, sources with the state-owned energy producer said this week. The improved production coincides with a planned maintenance set to be undertaken in mid-May by fellow [...]
The price of styrene in northeastern China of CNPC was stable, and the prices of its styrene, Jinzhou, Jinxi, Daqing, Fushun, Jilin, etc., were priced at 10,600 yuan per ton, and the plant started to operate at around 80%. Contracts and internal supply were mainly used.
Expectations for the European May styrene contract price have been revised again following strength in the spot market, according to market sources. At the beginning of April, market sources anticipated a large fall in the May styrene contract price. Sources said that the April styrene contract price was settled higher than expected and therefore would [...]
Oil rose on Tuesday above $75 a barrel to its highest since November 2014, supported by Opec-led production cuts, strong demand and the prospect of renewed US sanctions on Iran. Brent crude, the global benchmark, hit its highest since Opec on November 27, 2014 turned its back on curbing output to support prices, a move [...]
Asian MTBE tested new highs last week, supported by higher crude and gasoline prices. However, inter-octane spreads began seeing resistance last week, leading to a slip in the MTBE factor, as blending economics worsened. Nonetheless, if the energy markets continue their uptrend, MTBE will remain supported, despite weakening blend value. Asian methanol prices rose last [...]
The Asian ethylene market came under pressure last week, with spot prices slipping $20-$35/mt week on week to a one-month low. Market sources said bearish sentiment would likely continue, as deepsea ethylene supplies continue to flow to the region in May. Asian propylene markets rose on the back of firm downstream demand last week, and [...]
Asian paraxylene prices rose last week compared to a week earlier on stronger crude futures, and may continue to see support this week if the rally sustains. Asian benzene prices, however, slipped last week as market participants were cautious amid plunging prices of downstream styrene monomer in China. Inventories in China also continued to hover [...]
The petrochemical market in Asia got a boost last week from firmer upstream crude oil futures, with ICE June Brent crude futures gaining more than $1/b Friday compared to a week earlier. Eyes are still on the crude market this week, along with feedstock naphtha prices amid the steam cracker turnaround season.
Import pricing for spot cargoes of polyethylene and polypropylene are expected to remain stable or slip further as availability improves and traders turn to short sales to move product in what had been a stagnant buying market for much of March, sources said. Many buyers from Brazil to South America's Pacific Coast kept spot and [...]