The hottest olefin market analysis in Asia last we

2022-08-12
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Analysis of Asian olefin market last week (8.25

ethylene Southeast Asia, due to problems in ethylene production units, the immediate supply of ethylene has become tight, and the shutdown of cracking units in Indonesia will continue until September 2-3. This week, market participants tried to buy ethylene products to meet the uninterrupted supply of polyethylene raw materials. A trader reported that he received a bid of $445 per ton (CFR Indonesia) of increasingly serious plastic pollution in the world, Due to the lack of sufficient ethylene inventory, no offer was made. Another trader reported that the shipping date of a Thai ethylene shipment has been reached at US $455/ton (CFR Indonesia), but it has not been confirmed. There is no cargo supply market for Thailand's newly expanded cracking unit this week, because the polyethylene unit of the plant has been fully started, and ethylene products are consumed by itself

another trader confirmed that the source of goods reached two weeks ago was a 3000 ton ethylene shipment from Mexico, which is expected to arrive at the end of August. The place of shipment in the interactive discussion is the Philippines. The price of the shipment of ethylene is $420/ton (CFR Philippines). The shipment is loaded with 9000 tons of propylene in the Gulf of the United States, and the place of unloading of propylene is Indonesia

in Northeast Asia, due to the problems of some ethylene production units and the regular maintenance of two ethylene production units in South Korea, the immediate supply in Northeast Asia is tight and the error in maintenance and labor is continued until September. In South Korea, one ethylene production plant was shut down in mid September and the other in late September. Ethylene prices in Northeast Asia this week remained unchanged from last week, with $420-430/ton (CFR Northeast Asia). Because naphtha prices have changed from stable to weak, ethylene costs have decreased, and ethylene shipments from the Middle East have poured into the Northeast Asian market. The shutdown of yanpet II complex in Saudi Arabia for two weeks at the beginning of this month has not affected the export of ethylene products, but the export of ethylene from other bases in Saudi Arabia will decrease. It is reported that the transaction price of two batches of 6000 ~ 6500 tons of Saudi ethylene shipments in September is $420/ton (CFR Taiwan), and the quantity of the purchased shipments will be shared equally by several buyers in Kaohsiung. Taiwan buyers said they would purchase three additional shipments of Saudi ethylene that arrived in October, but no specific agreement has been reached so far. Due to problems in the related butadiene extraction unit of Taiwan's fifth 400000 ton cracking unit, the operating rate of the unit remains at 50%. It is expected that this production situation will continue until the end of August, resulting in the reduction of the quota of the unit manufacturer to contract customers to 80%. In addition, the 900000 ton cracking unit in Taiwan's Mailiao region has had production problems since August 16, affecting the output to 90%. The third 230000 ton cracking unit in Taiwan was shut down three weeks in advance, 45 days from October 23

in South Korea, a consumer reported that according to the contract, about 20000 tons of ethylene cargo were purchased from Japan during September and October, which can meet the 40 day maintenance demand of 460000 tons of cracking unit in Lichuan from September 17. A trader said that last week, the price of a small batch of shipments to Taiwan before September was $425/ton (CFR Taiwan). Recently, the seller sold ethylene shipments to Northeast Asia for only $430/ton (CFR Northeast Asia). It is estimated that Taiwan imported about 15000 tons of ethylene in September and 18000 tons in August. Affected by various factors, the price of ethylene cargo recently sold to China at the end of August was about $435/ton (CFR China)

in West Asia, at present, the import of ethylene in West Asia is limited by the monsoon. A Middle East cargo arrived in early September has been ordered by India, and its price is about $400/ton (CFR), which is relatively low. The negotiation on the import cargo in early October is still in progress

contract price it is said that the contract negotiation of ethylene shipped in Singapore in August is coming to an end. The buyer believes that the price is about 430 US dollars/ton (CFR Southeast Asia), but the seller insists that the contract price should be more than 450 US dollars/ton (CFR Southeast Asia) in consideration of the tight ethylene market and the cost of naphtha

in propylene Southeast Asia, no new deal was reached in the propylene market last week, and the intended selling price of Asian sellers remained at $420/ton (CFR), or above $420/ton (CFR). Thailand and Singapore did not reach a new deal for September. The recent Middle East cargo transaction price is about US $410/ton (CFR Indonesia). Saudi Arabia is still negotiating the shipment in the second half of September, with a price of $420/ton (CFR Southeast Asia). Propylene supply in Southeast Asia is tight due to the reasons previously described. As the economic benefits of the propylene market in Europe have not improved, it is estimated that Southeast Asia will consider importing deep-sea cargoes from Europe to supplement the supply shortage in Southeast Asia. Last week, the Philippines, Malaysia and Indonesia showed a desire to buy. The purchase price of most buyers was 400 ~ 410 (CFR), and the bid price of the Philippines was 420 US dollars/ton (CFR Indonesia). The start-up of the cracking unit in Indonesia will be delayed from September 2 to 3

in Northeast Asia, the spot price in Northeast Asia market last week was 420 ~ 430 US dollars/ton (CFR), which was the same as that of the previous week. At present, there is a tense situation in the propylene spot market, but there is a wide gap between the prices of the buyer and the seller. The market price situation last week was the same as that of the previous week, and the market trading performance was light

Japan's cracking unit still maintained a 50% operating rate in September, and some polypropylene units in Japan will be shut down in September. The cracking unit in South Korea will be shut down for maintenance for 40 days from the middle of September, and the other cracking unit will be shut down for maintenance from the middle of October. Therefore, the supply of propylene in September is still tight, and the shipment of propylene cannot be supplied in the first half of September. The quotation for the shipment in the second half of September is US $410/ton (FOB South Korea). This price cannot be achieved, because the buyer's intended price in Northeast Asia is US $420/ton (CFR) or less than US $420/ton (CFR). The propylene supply in Taiwan was also tight in August. The operating rate of 400000 T/a cracking plant was still 50%, and the 900000 T/a cracking plant had production problems since August 16; Therefore, the performance of batch trading activities with sales of less than 500 tons is more sluggish. The transaction price of unconfirmed road delivery is $470/ton (border delivery). Chinese users have been aware of the tight supply of propylene, but Chinese users are unwilling to accept the price higher than 420 ~ 425 US dollars/ton (CFR), and the quotation of Chinese traders remains at 430 US dollars/ton (CFR China). The factory price of Chinese domestic producers was more than 99.5% of Daqing Petrochemical's Propylene 4000 yuan/ton, Fushun Ethylene 3600 yuan/ton, Jihua (polymer grade) 3600 yuan/ton, Shijiazhuang Refinery (refined) 4500 yuan/ton last week, The price was flat with that of the previous week

contract price. The price negotiation of propylene cargoes imported from Japan in the third quarter of Taiwan has not been reached. The local contract price of Taiwan polymerization class in July is $378/ton, and the contract price of chemical class in July is $345/ton

the contract import price in South Korea in the third quarter is US $410 ~ 425/ton (CFR). One company reported that the transaction price of polymerization level is US $415/ton (CFR South Korea), the local contract price in South Korea in the third quarter, the transaction price of pipeline transportation is US $410/ton, and the transaction price of shipping is US $415/ton (CFR)

the butadiene market in Asia continued to be weak last week, and the butadiene price in the Asian market last week was $425/ton (CFR Southeast Asia), a decrease of $25/ton compared with the previous week. The quotation of the Japanese middleman in the Northeast Asian market is 420 US dollars/ton (CFR Chinese Mainland), while the other middleman is 420 US dollars/ton (CFR Taiwan, China), and the current purchase price of the Chinese buyer is less than 400 US dollars/ton (CFR Chinese Mainland)

the ex factory price of domestic manufacturers last week was $5210/ton for Fushun ethylene, 4800 yuan/ton for Daqing Petrochemical, and 4700 yuan/ton for Maoqing flexible packaging, which was the same as that of the previous week

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