Asian Aromatics Prices Suffered Sharp Declines in March
Benzene: Asian benzene prices sharply slid this month.
The global public health event continued to pervade, so the demand for crude oil kept contracting. Low costs and the public health event in Europe and the U.S. caused dull demand. Accordingly, sharp declines were seen in international benzene offers. Asian cargoes turned to flow into China from the U.S., the original destination.
As of March 30, benzene prices FOB South Korea reached $275-285/mt, down $355-360/mt M-O-M. Benzene prices CFR China reached $310-330/mt, down $320-330/mt M-O-M. The average price was $474.3/mt in the month, down 27.48% M-O-M.
Styrene: Asian styrene market prices sharply declined this month.
In early March, the commodity market went down, following declines in crude oil prices. The downtrend lasted to mid-March. In H2 March, the demand contracted in Europe and the U.S., affected by the public health event. Accordingly, Asia-Europe arbitrage window was opened. Some traders sold goods CFR China, after the bargain-hunting FOB Rotterdam. Therefore, the Asian market was weighed down. Afterwards, many regions were closed in India, where many styrene downstream enterprise were shut down. Therefore, India had to export styrene.
By March 30, the styrene prices CFR China were $500-840/mt. Inthe month, the average prices were $676-700/mt. The low-end price decreased by14.66% and 36.77% M-O-M and Y-O-Y respectively. The high-end price decreased by15.67% and 36.77% M-O-M and Y-O-Y respectively.
PX: AsianPX market prices kept slipping this month.
On the one hand, dragged down by dull demand and increasingsupply, the crude oil market kept declining, with prices even hit $20/bbl. Onthe other hand, PTA dominant futures contract prices suffered limit down manytimes. Besides, Zhejiang Petrochemical ran its PX units at full loads, whichaggravated the supply-demand contradiction.
The prices fluctuated within the range of $467-708/mt.The monthly average PX price was $583.4/mt CFR China, down 20.62%M-O-M. The monthly average PX price was $563.4/mt FOB South Korea, down 21.20%M-O-M.
Please click "Read more" for more information
For more information please contact us at
SCI99