MR 30062014 000000 PDF

POLYMERUPDATE - Asian Petrochemical
Monthly Price Watch Report

2014
June

www.polymerupdate.com

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Asian Petrochemical
Monthly Price Watch Report
June 2014

1
HeadOffice:ShalimarInfotechPvt.Ltd.
344,AZIndustrialEstate,G.K.Marg,LowerParel,Mumbai400013,INDIA
Tel:(9122)61772000(25lines)Fax:(9122)61772025Email:info@polymerupdate.com

Index
NotestoPriceWatchReport 02
ExecutiveSummary 04

CrudeOil 08
Naphtha 14
Polymers
LLDPE 18
LDPE 25
HDPE 32
PP 40
PVC 50
PS 54
ABS 57
Aromatics
Benzene 60
Toluene 65
Xylene 70
Methanol 79
Olefins
Butadiene 83
Ethylene 87
Propylene 91
Feedstock
StyreneMonomer 95
EDC/VCM 100
PTA 104
MEG 109
Intermediates
ACN 113
DOP 116
2EH 119
IndianPolymersMarket
IndianPolymersMarketSummary 122
IndianPolymersPriceMovement 124

Disclaimer&Copyright 127

2

NotestoPriceWatchReport
MarketTerms
FOB FreeOnBoard
CNF/CFR Cost+Freight
CIF Cost+Insurance+Freight
MainstreamOffer MainMarketOffer
Spot
Quotedforsalesoffixedvolumesfordeliveryinasimple
shipmentataspecifiedtime,normallywithinfourweeks
fromthedateofpublication.Thequotescoverprices
agreedinnegotiationsbetweenbuyersandsellersinthe
weekleadinguptothedateofpublication
Local
AlllocalpricesareBasic(exclusiveofexcisedutyand
otherlocaltaxes)
Contract
Quotedforagreementscoveringthesupplyofaproduct
overanextendedperiod.Pricesarenegotiatedbetween
abuyerandselleratregularintervals,oftenmonthlyor
quarterlyandarequotedforthemonthorquarterof
delivery
Exwork ExFactoryPrice
MarketsbyRegions
FarEastAsia NorthEastAsia SouthAsia SouthEastAsia
SouthKorea Taiwan India Singapore
Japan China Pakistan Thailand
SriLanka Indonesia
Bangladesh Malaysia
Philippines
Week1June2toJune7
Week2June9toJune14
Week2June16toJune21
Week4June23toJune30

3

ExchangeRate=1USD(Jun.14)
W4 W3 W2 W1
ChineseYuan(CNY) 6.158663 6.1562 6.14755 6.168343
ThaiBaht(THB) 32.40066 32.3755 32.40395 32.67176
SouthKoreanWon
(KRW)
1016.37 1019.11 1016.59 1020.8
SingaporeDollar
(SGD)
1.249013 1.2506 1.249883 1.254771
JapaneseYen(JPY) 101.7238 101.985 102.2267 102.2
IndianRupee(INR) 60.04541 59.97395 59.09232 59.09839

4

ExecutiveSummary
Crude oil prices declined on June 30 on reports that the fighting in Iraq has not spread to the
oilproducingsouthernregionofthecountry.Thefallinpriceswasalsopromptedbyadropin
US equity indices. Nymex crude futures traded lower at USD 105.37/barrel while Dated Brent
spot prices were down at USD 112.36/barrel. WTI Cushing spot prices were lower at USD
105.37/barrel.
Open specnaphtha bid prices on June 30 for the 1H of Aug wereassessed at theUSD 989/mt
CFR FarEast levels while the ask rate was at the USD 991/mt CFR FarEast levels.The forward
naphthamarketpriceindicationsforthe1HofAugweredownattheUSD987.50/mtlevels.
LLDPEpricesfinishedhigherinAsiaduringweek4.Gainscameonthebackofacombinationof
bullishtriggersincludingfirmerenergyprices,ariseinnaphthavalues,aliftindemandtrends
and a sharp climb in ethylene feedstock prices in Asia. On June 27, CFR Far East Asia prices of
LLDPEwereassessedattheUSD1575/mtmark,anincreaseofUSD15/mtfromlastweek.CFR
South East Asia prices were assessed higher at the USD 1590/mt mark, a gain of USD 15/mt
fromthepreviousweek.CFRSouthAsiapriceswereassessedupattheUSD1635/mtlevels,a
riseofUSD5/mtfromlastweek.
LDPEpricesmarchedhigherinpartsofAsiaduringweek4.CFRSouthEastAsiapricesofLDPE
wereassessedupattheUSD1590/mtmark,asharpincreaseofUSD30/mtfromtheprevious
week. Prices firmed in anticipation of tight product avails in the region, going forward. Buying
trends however remains sluggish in the region ahead of the holy Muslim month of Ramadan.
OnJune27,CFRFarEastAsiapricesofLDPEwereassessedattheUSD1600/mtmark,adropof
USD10/mtfromlastweek.
HDPEpriceswereassessedmixedinAsiaduringweek4.InFarEastAsia,pricesofHDPEfilmon
June27wereassessedattheUSD1595/mtlevels,afallofUSD5/mtfromlastweek.HDPEyarn
prices were up at the USD 1620/mt levels, a rise of USD 5/mt from the previous week. HDPE
injection moulding prices were assessed unchanged at the USD 1530/mt levels. HDPE blow
moulding prices were assessed steady at the USD 1540/mt CFR levels. Demand trends were
weakinkeymarketslikeChina.InSouthEastAsia,pricesofHDPEfilmwereassessedhigherat
the USD 1600/mt levels, a rise of USD 20/mt from the previous week. HDPE injection prices
were up at the USD 1570/mt levels. HDPE BM prices were unchanged at the USD 1550/mt
levels. HDPE yarn prices were assessed higher at the USD 1600/mt levels. Buying activity
howeverremainsdullintheregionaheadoftheholyMuslimmonthofRamadan.InSouthAsia,
pricesofHDPEinjectionandHDPEBMwereassessedflatattheUSD1570/mtlevels.HDPEfilm
prices were assessed stable at the USD 1595/mt CFR South Asia levels. Buying trends were
reportedassoftintheregion.

5

Polypropylene (PP) prices finished higher in parts of Asia during week4. The price rise was on
the back of firmer upstream crude, naphtha and propylene values. On June 27, CFR Far East
AsiapricesofPPraffiaandPPinjectionwereassessedattheUSD1510/mtlevels.BOPPprices
wereassessedunchangedattheUSD1530/mtlevels.PPfilmpriceswereflatfromlastweekat
theUSD1530/mtlevels.PPblockcopolymerwereassessedupattheUSD1590/mtlevels.CFR
SouthEastAsia,PPraffiaandPPinjectionpriceswereassessedupattheUSD1550/mt,ariseof
USD 10/mt from the previous week. PP film prices were higher at the USD 1565/mt levels, a
gain of USD 10/mt from last week. Prices of BOPP were assessed higher at the USD 1565/mt
levels, up USD 15/mt on the week. PP block copolymer prices were assessed up at the USD
1610/mtlevels.InSouthAsia,pricesofPPraffiaandPPinjectionwereassessedupattheUSD
1560/mt levels. PP film prices were assessed higher at the USD 1590/mt levels. BOPP prices
were assessed up the USD 1585/mt levels. PP block copolymer prices were assessed higher at
theUSD1615/mtlevels.
PVCpricesdeclinedinAsiaduringweek4.Thepricefallwasattributedtopoordemandtrends
across Asia. CFR China prices of PVC were assessed down at the USD 1045/mt levels, a fall of
USD 5/mt from last week. CFR South East Asia prices of PVC were assessed lower at the USD
1045/mtlevels,adropofUSD5/mtfromthepreviousweek.
PSpricesinchedhigherinAsiaduringweek4.AsharpgaininfeedstockSMratessupportedthe
priceriseintheregion.CFRChinapricesofGPPSwereassessedupattheUSD1710/mtlevels
whileCFRSouthEastAsiapricesofGPPSwereassessedhigherattheUSD1725/mtlevels,both
upUSD5/mtfromthepreviousweek.InChina,HIPSpriceswereassessedattheUSD1755/mt
CFRmark,ariseofUSD5/mtfromlastweek.CFRSouthEastAsiapricesofHIPSwereassessed
flat at the USD 1795/mt levels. Higher upstream butadiene rates pushed prices higher. EPS
pricesmeanwhilewereassessedupattheUSD1720/mtFOBNorthEastAsiamarkforgeneral
purposegrades.
FirmerfeedstockSM,butadieneandACNvaluespushedABSpriceshigherinAsiaduringweek
4. CFR China prices of ABS were assessed up at the USD 1920/mt levels, a rise of USD 20/mt
from the previous week. CFR South East Asia prices of ABS were assessed higher at the USD
1920/mtCFRlevels,againofUSD5/mtfromlastweek.
BenzenepricesdeclinedinAsiaonJune30.Pricesdroppedasbuyingsentimentsintheregion
weakened. Supporting the fall in benzene prices was a decline in upstream crude values. FOB
Korea prices of benzene were assessed down at the USD 1410/mt levels, a fall of USD 10/mt
from June 27 assessed levels. The price fall was further supported by lower benzene values in
theUS.
Toluene prices in Asia drifted lower on June 30. The price fall was attributed to dull buying
interest in the region. The sharp price drop was supported by a fall in upstream crude values

6

and weaker downstream benzene rates. FOB Korea prices of toluene were assessed down at
the USD 1180/mt levels, a sharp drop of USD 25/mt from June 27 assessed levels. CFR China
pricesoftoluenewereassessedlowerattheUSD1195/mtlevels.
Paraxylene(PX)pricesinAsiaedgedhigheronJune30.Thepricegainwasattributedtostrong
buying trends witnessed in the region. The price rise was further supported by a rise in
downstreamPTArates.FOBKoreapricesofPXwereassessedupattheUSD1465/mtlevels,a
riseofUSD5/mtfromJune27assessedrates.CFRTaiwanpriceswereassessedupattheUSD
1485/mtlevels.
Methanol prices were assessed mixed in Asia during week 4. On June 27, CFR Korea prices of
methanol were assessed steady from last week at the USD 370/mt levels. Buying trends were
reported as dull in the region. CFR South East Asia prices were assessed down at the USD
380/mtlevels,afallofUSD5/mtfromthepreviousweek.Thepricefallwasattributedtoweak
buyingandsufficientproductavailsintheregion.CFRChinapriceswereassessedupattheUSD
335/mt CFR China levels, a gain of USD 5/mt from last week. CFR India prices were assessed
lowerattheUSD300/mtlevels.Thepricefallwasonthebackofampleproductavailabilityin
theregion.
ButadienepricesclimbedinAsiaduringweek4.Pricesfirmedonthebackofreportsofstrong
regionalbuyinginterestontheonehandandtightproductavailabilityontheother.Strengthin
upstreamcostssupportedthepricerise.FOBKoreapricesofbutadienewereassessedupatthe
USD 1395/mt levels, a week on week rise of USD 25/mt from last week. CFR China prices of
butadiene were assessed higher at the USD 1360/mt levels, a gain of USD 30/mt from the
previous week. CFR South East Asia prices of butadiene were assessed higher at the USD
1350/mtlevels,againofUSD30/mtfromlastweek.
Ethylene prices in Asia firmed during week 4. The sharp price rise was triggered by limited
regional product availability. Supporting the price rise were firmer upstream naphtha values.
FOB Korea prices of ethylene were at the USD 1410/mt levels, a rise of USD 25/mt from last
week.CFRNorthEastAsiapriceswereassessedhigherattheUSD1475/mtlevels,againofUSD
25/mtfromthepreviousweek.CFRSouthEastAsiapricesofethylenewereassessedupatthe
USD1450/mtlevels,asharpincreaseofUSD40/mtfromlastweek.
Propylene prices inched up in parts of Asia on June 30. FOB Korea prices of propylene were
assessedhigherattheUSD1385/mt,ariseofUSD5/mtfromJune27assessedlevels.Theprice
risewasonthebackofbullishbuyingsentimentsandimproveddownstreamproductdemand
trends in the region. The price rise was supported by firmer upstream naphtha values. CFR
ChinapriceswereassessedsteadyattheUSD1455/mtlevels.
SMpricesbolsteredhigherinAsiaduringweek4.Pricegainscameonthebackofthestrength
in upstream benzene and ethylene rates. On June 27, prices of SM were assessed at the USD

7

1610/mtFOBKorealevels,asharpgainofUSD45/mtfromthepreviousweek.CFRChinaprices
wereassessedhigherattheUSD1640/mtlevels,asteepriseofUSD50/mtfromlastweek.CFR
South East Asia prices were assessed higher at the USD 1655/mt levels, up USD 45/mt. CFR
India prices were up at the USD 1640/mt levels, a sharp increase of USD 45/mt from the
previousweek.
EDC prices inched lower in parts of Asia during week 4. CFR Far East Asia prices of EDC were
assessed steady at the USD 440/mt levels. CFR South East Asia prices were assessed lower at
theUSD435/mtlevels,afallofUSD5/mtfromthepreviousweek.Pricesdeclinedonreportsof
softregionalbuyingtrends.VCMpriceswerealsodroppedinAsia.CFRFarEastAsiapriceswere
assesseddownattheUSD905/mtlevels,adeclineofUSD5/mtfromlastweek.CFRSouthEast
AsiapricesofVCMwereassessedlowerattheUSD940/mtlevels,asharpdropofUSD20/mt
from the previous week. Prices fell on the back of dull regional buying trends and a decline in
downstreamPVCrates.
PTA prices in Asia inched higher on June 30. Gains in prices of upstream PX rates were seen
supportingtheincreaseinspotPTAprices.CFRChinapricesofPTAwereassessedhigheratthe
USD1000/mtlevels,ariseofUSD5/mtfromJune27assessedlevels.
Despite firmer upstream ethylene values, MEG prices on June 30 down adjusted in Asia.
DemandsentimentsfromthestartofthedaywereseensluggishandselleroffersforMEGwere
metwithresistance.CFRChinapricesofMEGwereassesseddownattheUSD1015/mt,afallof
USD5/mtontheday.
ACN prices climbed in Asia during week 4. CFR South East Asia prices were assessed higher at
theUSD1920/mtlevels,ariseofUSD10/mtfromthepreviousweek.CFRSouthAsia,pricesof
ACN were assessed up at the USD 1975/mt levels, a gain of USD 15/mt from last week. Prices
climbedmainlyonaccountoflimitedproductavailabilityintheregion.Supportingthepricerise
washigherfeedstockpropylenevalues.CFRFarEastAsiapricesofACNwereassessedflatfrom
lastweekattheUSD1930/mtlevels.
DOP prices in Asia journeyed north during week 4. Prices climbed on the back of reports of
improvedregionalbuyingtrendscoupledwithgainsinspotPAprices.CFRChinapricesofDOP
wereassessedupattheUSD1525/mtlevels,ariseofUSD10/mtfromthepreviousweek.CFR
South East Asia prices were assessed higher at the USD 1545/mt levels, a gain of USD 10/mt
fromlastweek.
2EH prices in Asia were assessed steady during week 4. This is despite improved demand
sentimentsintheregionandhigherfeedstockpropylenevalues.CFRChinapricesof2EHwere
assessedflatfromlastweekattheUSD1430/mtlevelswhileCFRSouthEastAsia,pricesof2EH
wereassessedunchangedattheUSD1470/mtCFRlevels.

8

Crude oil prices fell on June 2 on reports that a key oil port in Libya was scheduled to restart
production. The fall in prices was also a result of a rise in the value of the US dollar. Nymex
crude futures traded lower at USD 102.47/barrel while Dated Brent spot prices were down at
USD108.83/barrel.WTICushingspotpricesweredownatUSD102.47/barrel.
Crude oil prices displayed a mixed undertone on June 3 on the back of a fall in US crude and
distillate inventories on the one hand and a rise in the value of the US dollar, on the other.
Nymex crude futures traded higher at USD 102.66/barrel while Dated Brent spot prices were
downatUSD108.82/barrel.WTICushingspotpriceswerehigheratUSD102.66/barrel.
CrudeoilpricesfellonJune4onthebackofariseinUSgasolineanddistillateinventories.The
fallinpriceswasalsoaresultofgainsinthevalueoftheUSdollar.Nymexcrudefuturestraded
lower at USD 102.64/barrel while Dated Brent spot prices were down at USD 108.40/barrel.
WTICushingspotpriceswereloweratUSD102.64/barrel.
Crude oil prices displayed a mixed undertone on June 5 on the back of a rise in US jobless
benefitclaimsontheonehandandadeclineinthevalueoftheUSdollarontheother.Nymex
crudefuturestradedloweratUSD102.48/barrelwhileDatedBrentspotpriceswereupatUSD
108.79/barrel.WTICushingspotpriceswereloweratUSD102.48/barrel.
CrudeoilpricesdisplayedamixedundertoneonJune6onthebackofariseinUSemployment
on the one hand and gains in the value of the US dollar on the other. Nymex crude futures
traded higher at USD 102.66/barrel while Dated Brent spot prices were down at USD
108.61/barrel.WTICushingspotpriceswerehigheratUSD102.66/barrel.
CrudeoilpricesroseonJune9onthebackofstrongexportnumbersemergingfromChina.The
riseinpriceswasalsoaresultofgainsinUSequityindices.Nymexcrudefuturestradedhigher
atUSD104.41/barrelwhileDatedBrentspotpriceswereupatUSD109.99/barrel.WTICushing
spotpriceswerehigheratUSD104.41/barrel.
Crude oil prices fell on June 10 on the back of hopes of a peaceful resolution of the Ukraine
crisis. The fall in prices was also a result of a rise in the value of the US dollar. Nymex crude
futures traded lower at USD 104.35/barrel while Dated Brent spot prices were down at USD
Crude oil prices rose on June 11 on supply concerns on reports of violence in Iraq. The rise in
prices was also a result of a decline in US crude oil stockpiles. Nymex crude futures traded
Crude Oil Summary

9

higheratUSD104.40/barrelwhileDatedBrentspotpriceswereupatUSD109.95/barrel.WTI
CushingspotpriceswerehigheratUSD104.40/barrel.
CrudeoilpricesroseonJune12onthebackofanescalationinviolenceinstrifetornIraq.The
rise in prices was also a result of a decline in the value of the US dollar. Nymex crude futures
traded higher at USD 106.53/barrel while Dated Brent spot prices were up at USD
113.02/barrel.WTICushingspotpriceswerehigheratUSD106.53/barrel.
Crude oil prices rose on June 13 on reports of a spurt in violence in Iraq. Prices also climbed
owing to gains in US equity indices. Nymex crude futures traded higher at USD 106.91/barrel
while Dated Brent spot prices were up at USD 113.41/barrel. WTI Cushing spot prices were
higheratUSD106.91/barrel.
Crude oil prices edged lower on June 16 on reports that the US may coordinate with Iran to
countertheinsurgencyinIraq.ThefallinpriceswasalsodrivenbyariseinthevalueoftheUS
dollar. Nymex crude futures traded lower at USD 106.90/barrel while Dated Brent spot prices
weredownatUSD112.94/barrel.WTICushingspotpriceswereloweratUSD106.90/barrel.
CrudeoilpricesdisplayedamixedundertoneonJune17onthebackofreportsthattheUSwas
inplanstostationasmallcontingentoftroopsinIraqonethehandandalowerforecastinIraqi
oil production growth by the IEA on the other. Nymex crude futures traded lower at USD
106.36/barrel while Dated Brent spot prices were up at USD 113.45/barrel. WTI Cushing spot
priceswereloweratUSD106.36/barrel.
CrudeoilpricesdisplayedamixedundertoneonJune18onreportsthattheUSFederalReserve
hadtrimmeditsmonthlybondpurchasesontheonehandandrenewedviolenceinIraqonthe
other. Nymex crude futures traded lower at USD 105.97/barrel while Dated Brent spot prices
wereupatUSD114.26/barrel.WTICushingspotpriceswereloweratUSD105.97/barrel.
Crude oil prices rose on June 19 owing to the continuing violence in Iraq. The gains in prices
were also supported by a decline in the number of people seeking jobless benefits in the US.
NymexcrudefuturestradedhigheratUSD106.43/barrelwhileDatedBrentspotpriceswereup
atUSD115.06/barrel.WTICushingspotpriceswerehigheratUSD106.43/barrel.
CrudeoilpricesdisplayedamixedundertoneonJune20onthebackofafallinthevalueofthe
US dollar on the one hand and on reports that US President Barack Obama is likely to send
militaryadviserstoIraqontheother.NymexcrudefuturestradedhigheratUSD107.26/barrel
whileDatedBrentspot pricesweredownatUSD114.81/barrel.WTICushingspotpriceswere
higheratUSD107.26/barrel.

10

CrudeoilpricesdeclinedonJune23 owingtoebbingconcernsoversupplydisruptionsin Iraq.
The fall in prices was also a result of a rise in the value of the US dollar. Nymex crude futures
traded lower at USD 106.17/barrel while Dated Brent spot prices were down at USD
Crude oil prices displayed a mixed undertone on June 24 owing to weak economic data
emerging out of the eurozone on the one hand and continuing violence in Iraq on the other.
NymexcrudefuturestradedloweratUSD106.03/barrelwhileDatedBrentspotpriceswereup
atUSD114.46/barrel.WTICushingspotpriceswereloweratUSD106.03/barrel.
CrudeoilpricesdisplayedamixedundertoneonJune25onhopesthattheUSgovernmentmay
relaxabanoncrudeoilexportsinthefutureontheonehandandariseinUSfuelinventories
ontheother.NymexcrudefuturestradedhigheratUSD106.50/barrelwhileDatedBrentspot
prices were down at USD 114.00/barrel. WTI Cushing spot prices were higher at USD
106.50/barrel.
Crude oil prices fell on June 26 on the back of reports that oil exports from Iraq is likely to
increase. The fall in prices was also prompted by a decline in US equity indices. Nymex crude
futures traded lower at USD 105.84/barrel while Dated Brent spot prices were down at USD
Crude oil prices displayed a mixed undertone on June 27 on the back of a decline in US
consumerspendingontheonehandandafallinthevalueoftheUSdollarontheother.Nymex
crudefuturestradedloweratUSD105.74/barrelwhileDatedBrentspotpriceswereupatUSD
Crude oil prices declined on June 30 on reports that the fighting in Iraq has not spread to the
oilproducingsouthernregionofthecountry.Thefallinpriceswasalsopromptedbyadropin
US equity indices. Nymex crude futures traded lower at USD 105.37/barrel while Dated Brent
spot prices were down at USD 112.36/barrel. WTI Cushing spot prices were lower at USD
105.37/barrel.

11

Crude Oil Graphical Trend

12

PriceMovementCrudeOilduringMarch2014June2014(USD/Barrel)
Grade June2014 Last4months(Mar2014Jun2014)
High Low High Low
CrudeOil
NYMEX 107.26 102.47 107.26 97.99
DatedBrent 115.06 108.40 115.06 104.79
WTICushing 107.26 102.47 107.26 97.99
Crude Oil Price Movement

13

NymexCrude DatedBrent WTICushing

Y2014 Y2013 Y2014 Y2013 Y2014 Y2013
1Jun
2Jun 102.47 108.83 102.47
3Jun 102.66 93.45 108.82 102.01 102.66 93.45
4Jun 102.64 93.31 108.40 103.24 102.64 93.31
5Jun 102.48 93.74 108.79 103.04 102.48 93.74
6Jun 102.66 94.76 108.61 103.61 102.66 94.76
7Jun 96.03 104.56 96.03
8Jun
9Jun 104.41 109.99 104.41
10Jun 104.35 95.77 109.52 103.95 104.35 95.77
11Jun 104.40 95.38 109.95 102.96 104.40 95.38
12Jun 106.53 95.88 113.02 103.49 106.53 95.88
13Jun 106.91 96.69 113.41 104.25 106.91 96.69
14Jun 97.85 105.93 97.85
15Jun
16Jun 106.90 112.94 106.90
17Jun 106.36 97.77 113.45 105.47 106.36 97.77
18Jun 105.97 98.44 114.26 106.02 105.97 98.44
19Jun 106.43 98.24 115.06 106.12 106.43 98.24
20Jun 107.26 95.40 114.81 102.15 107.26 95.40
21Jun 93.69 100.91 93.69
22Jun
23Jun 106.17 114.12 106.17
24Jun 106.03 95.18 114.46 101.16 106.03 95.18
25Jun 106.50 95.32 114.00 101.26 106.50 95.32
26Jun 105.84 95.50 113.21 101.66 105.84 95.50
27Jun 105.74 97.05 113.30 102.82 105.74 97.05
28Jun 96.56 102.16 96.56
29Jun
30Jun 105.37 112.36 105.37
Crude Oil Price Comparison

14

Open spec naphtha bid prices on June 2 for the 2H of July were assessed lower at the USD
947.50/mtCFRFarEastlevelswhiletheaskratewasattheUSD949.50/mtCFRFarEastlevels.
The forward naphtha market price indications for the 2H of July were down at the USD
942.50/mtlevels.
Open spec naphtha bid prices on June 3 for the 2H of July were assessed lower at the USD
940/mt CFR Far East levels while the ask rate was at the USD 942/mt CFR Far East levels. The
forwardnaphthamarketpriceindicationsforthe2HofJulywereupattheUSD942/mtlevels.
OpenspecnaphthabidpricesonJune4forthe2HofJulywereassessedattheUSD941/mtCFR
Far East levels while the ask rate was at the USD 943/mt CFR Far East levels. The forward
naphthamarketpriceindicationsforthe2HofJulyweredownattheUSD938.50/mtlevels.
OpenspecnaphthabidpricesonJune5forthe2HofJulywereassessedattheUSD940/mtCFR
Far East levels while the ask rate was at the USD 942/mt CFR Far East levels. The forward
naphthamarketpriceindicationsforthe2HofJulywereupattheUSD948/mtlevels.
Open spec naphtha bid prices on June 6 for the 2H of July were assessed higher at the USD
The forward naphtha market price indications for the 2H of July were down at the USD
947.50/mtlevels.
The forward naphtha market price indications for the 2H of July were up at the USD 960/mt
levels.
Theforwardnaphthamarketpriceindicationsforthe2HofJulyweredownattheUSD958/mt
levels.
forward naphtha market price indications for the 2H of July were down at the USD 963.50/mt
levels.
Naphtha Summary

15

The forward naphtha market price indications for the 2H of July were up at the USD 984/mt
levels.
forward naphtha market price indications for the 2H of July were down at the USD 985.50/mt
levels.
Open spec naphtha bid prices on June 16 for the 1H of Aug were assessed lower at the USD
Theforwardnaphthamarketpriceindicationsforthe1HofAugwereupattheUSD981.50/mt
levels.
The forward naphtha market price indications for the 1H of Aug were up at the USD 979/mt
levels.
Open spec naphtha bid prices on June 18 for the 1H of Aug were assessed higher at the USD
Theforwardnaphthamarketpriceindicationsforthe1HofAugwereupattheUSD985.50/mt
levels.
forward naphtha market price indications for the 1H of Aug were up at the USD 989.50/mt
levels.
987/mtCFRFarEastlevelswhiletheaskratewasattheUSD989/mtCFRFarEastlevels.The
forwardnaphthamarketpriceindicationsforthe1HofAugwereupattheUSD989/mtlevels.
Theforwardnaphthamarketpriceindicationsforthe1HofAugweredownattheUSD983/mt
levels.

16

forward naphtha market price indications for the 1H of Aug were up at the USD 988.50/mt
levels.
The forward naphtha market price indications for the 1H of Aug were up at the USD 990/mt
levels.
The forward naphtha market price indications for the 1H of Aug were down at the USD
987.50/mtlevels.

17

Naphtha Graphical Trend

18

LLDPE prices gained in Asia during week 1. A spike in LLDPE futures on the Dalian Commodity
ExchangeinChinasupportedsellersseekingtosteertheiroffershigher.OnJune6,CFRFarEast
AsiapricesofLLDPEwereassessedattheUSD1555/mtmark.CFRSouthEastAsiapriceswere
assessed higher at the USD 1590/mt mark, a gain of USD 5/mt from the previous week. CFR
SouthAsiapriceswereassessedupattheUSD1620/mtlevels,anincreaseofUSD10/mtfrom
last week. In the domestic markets of China, LLDPE prices were assessed higher at the Yuan
11920/mt ex works levels. In India, PetroRabigh, Saudi Arabia has offered its LLDPE film grade
at the USD 1640/mt levels, for shipment in end June 2014, on a CIF Nhava Sheva port basis.
EquatehasoffereditsLLDPEfilmgradeattheUSD1630/mtlevels,onaCIFNhavaShevaport
basisforshipmentinJune2014.InChina,aMiddleEasternproducerhasoffereditsLLDPEfilm
attheUSD1550/mtCFRChinalevels.
LLDPEpricesclimbedinpartsofAsiaduringweek2.Reportsofimproveddemandtrendsinkey
marketslikeChinasupportedthepricegain.OnJune13,CFRFarEastAsiapricesofLLDPEwere
assessed at the USD 1570/mt mark, a rise of USD 15/mt from last week. Middle Eastern
producer offers were heard at the USD 1590/mt CFR China levels. CFR South Asia prices were
assessed higher at the USD 1625/mt levels, a rise of USD 5/mt from the previous week. CFR
SouthEastAsiapriceswereassesseddownattheUSD1585/mtmark,afallofUSD5/mtfrom
last week. Prices declined on the back of weaker upstream ethylene values and dull buying
sentiments in the region. In the domestic markets of China, LLDPE prices were assessed up at
theYuan12070/mtexworkslevels.
LLDPEpricesdeclinedinAsiaduringweek3.OnJune20,CFRFarEastAsiapricesofLLDPEwere
assessed at the USD 1560/mt mark, a drop of USD 10/mt from the previous week. CFR South
East Asia prices were assessed lower at the USD 1575/mt mark, a fall of USD 10/mt from last
week.Thepricefallwastriggeredbydullbuyingpulsewitnessedintheregion.CFRSouthAsia
priceswereassessedupattheUSD1630/mtlevels,ariseofUSD5/mtfromthepreviousweek.
InthedomesticmarketsofChina,LLDPEpriceswereassessedsteadyattheYuan12070/mtex
works levels. In plant news, PTT Global Chemical is in plans to shut its 400,000 mt/year LLDPE
plant, located at Map Ta Phut, Thailand, in midJuly 2014 for maintenance turnaround. The
plantislikelytoremainoffstreamforaround21days.
A. Polymers
A.1 LLDPE Summary

19

LLDPEpricesfinishedhigherinAsiaduringweek4.Gainscameonthebackofacombinationof
bullishtriggersincludingfirmerenergyprices,ariseinnaphthavalues,aliftindemandtrends
and a sharp climb in ethylene feedstock prices in Asia. On June 27, CFR Far East Asia prices of
LLDPEwereassessedattheUSD1575/mtmark,anincreaseofUSD15/mtfromlastweek.CFR
South East Asia prices were assessed higher at the USD 1590/mt mark, a gain of USD 15/mt
fromthepreviousweek.CFRSouthAsiapriceswereassessedupattheUSD1635/mtlevels,a
riseofUSD5/mtfromlastweek.InthedomesticmarketsofChina,LLDPEpriceswereassessed
higherattheYuan12220/mtexworkslevels.InIndia,aMiddleEasternproducerhasofferedits
LLDPE film grade at the USD 16301640/mt levels, on a CIF Nhava Sheva port basis, for
shipment in end July 2014. In Pakistan, Sabic, Saudi Arabia is heard to have offered its LLDPE
film grade at the USD 1640/mt CFR levels, for shipment in end July / early August 2014, on a
CNFKarachiportbasis.

20

A1(a)PolymersAverageweeklypriceofLLDPEFilm@CIFIndiaBasis
forJune2014(USD/Tonne)
Grade Market W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Film
South
Korea
1613 1610 1610 1610 1611 1605 1585 1590
Singapore 1623 1620 1620 1620 1621 1615 1595 1600
Thailand 1614 1610 1610 1610 1611 1605 1585 1590
Saudi
Arabia
1614 1610 1610 1610 1611 1599 1555 1560
Kuwait 1614 1610 1610 1610 1611 1599 1555 1560
A.1 LLDPE Price Chart & Graphical Trend

21

A1(b)PolymersAverageweeklypriceofLLDPERotoMoulding
@CIFIndiaBasisforJune2014(USD/Tonne)
Jun
14
May
14
Apr
14
Mar
14
RotoMoulding
South
Korea
1634 1630 1630 1630 1631 1611 1592 1610
Saudi
Arabia
1634 1630 1630 1630 1631 1619 1592 1610

22

A1(c)PolymersAverageweeklypriceofLLDPEInjection
Jun
14
May
14
Apr
14
Mar
14
InjectionMoulding
South
Korea
1634 1630 1630 1630 1631 1625 1621 1630
Singapore 1634 1630 1630 1630 1631 1625 1621 1630
Thailand 1624 1620 1620 1620 1621 1615 1611 1620
Saudi
Arabia
1644 1640 1640 1640 1641 1629 1601 1610

23

PriceMovementofLLDPECIFIndiabasisduringMarch2014
toJune2014(USD/Tonne)
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Film
South
Korea
1630 1610 1630 1590
Singapore 1640 1620 1640 1600
Thailand 1640 1610 1640 1590
Saudi
Arabia
1640 1610 1640 1560
Kuwait 1640 1610 1640 1560
RotoMoulding
South
Korea
1660 1630 1660 1590
Saudi
Arabia
1660 1630 1660 1590
InjectionMoulding
South
Korea
1660 1630 1660 1620
Singapore 1660 1630 1660 1620
Thailand 1650 1620 1650 1610
Saudi
Arabia
1670 1640 1670 1600
Metallocene
Singapore 1780 1780 1830 1770
A.1 LLDPE Price Movement

24

PlantUpdateofLLDPEforJune2014
Company Location Product Capacity Schedule Remarks
LLDPE
PTTGlobal
Chemical
(PTTGC)
MapTaPhut,
Thailand
LLDPE
400,000
mt/yr
MidJul2014
Maintenance
turnaround (3Weeks)
Shenhua
BaotouCoal
Chemical
Shenhua,
China
LLDPE/HDPE
300,000
mt/year
Jul14
Maintenance
Turnaround (1Month)
Lotte
ChemicalTitan
Merak,
Indonesia
LLDPE
450,000
mt/yr
25Jun14
Theplantwas
takenoffstream
owingto
technicalissues
(1520days)
A.1 LLDPE Plant Update

25

LDPEpricesinchedlowerinpartsofAsiaduringweek1.CFRFarEastAsiapricesofLDPEwere
assesseddownattheUSD1560/mtmark,afallofUSD5/mtfromthepreviousweek.Theprice
fall was on the back of lackluster buying interest in the region. CFR South East Asia prices of
LDPEwereassessedsteadyfr4omlastweekattheUSD1600/mtmark.Offerswereheardatthe
USD1620/mtCFRSouthEastAsialevels.InChina,domesticratesofLDPEwereassessedhigher
attheYuan12070/mtexworkslevels.InIndia,Sabic,SaudiArabiahasofferedLDPEfilmgrade
attheUSD1660/mtlevels,onaCIFNhavaShevaportbasis,forshipmentinendJune/earlyJuly
2014. In China, a Malaysian producer has offered LDPE film grade at the USD 1570/mt CFR
Chinalevels.
LDPEpriceswereassessedmixedinAsiaduringweek2.OnJune13,CFRFarEastAsiapricesof
LDPE were assessed up at the USD 1590/mt mark, a sharp gain of USD 25/mt from last week.
Strong buying interest in key markets like China supported the sharp price rise in the region.
CFRSouthEastAsiapricesofLDPEwereassessedlowerattheUSD1580/mtmark,afallofUSD
20/mt from the previous week. Reports of sluggish demand sentiments coupled with weaker
upstream ethylene values, together pressured prices lower in the region. In China, domestic
rates of LDPE were assessed up at the Yuan 12520/mt ex works levels. Demand trends were
reportedasbeingbullishinthedomesticmarketsofChina.
LDPEpricesfirmedinpartsofAsiaduringweek3.OnJune20,CFRFarEastAsiapricesofLDPE
were assessed at the USD 1610/mt mark, a sharp increase of USD 20/mt from the previous
week. Prices firmed mainly on account of constrained product availability and improved
demand trends in the region. CFR South East Asia prices of LDPE were assessed lower at the
USD1560/mtmark,afallofUSD20/mtfromlastweek.Reportsofweakbuyingsentimentsand
bearish feedstock ethylene rates, together pushed prices lower in the region. In China,
domestic rates of LDPE were assessed up at the Yuan 12820/mt ex works levels. Buying
sentimentswerereportedasstronginthedomesticmarketsofChina.
LDPEpricesmarchedhigherinpartsofAsiaduringweek4.CFRSouthEastAsiapricesofLDPE
wereassessedupattheUSD1590/mtmark,asharpincreaseofUSD30/mtfromtheprevious
week. Prices firmed in anticipation of tight product avails in the region, going forward. Buying
trends however remains sluggish in the region ahead of the holy Muslim month of Ramadan.
OnJune27,CFRFarEastAsiapricesofLDPEwereassessedattheUSD1600/mtmark,adropof
USD 10/mt from last week. In China, domestic rates of LDPE were assessed lower at the Yuan
12520/mtexworkslevels.InPakistan,Sabic,SaudiArabiaisheardtohaveoffereditsLDPEfilm
grade at the USD 1650/mt CFR levels, for shipment in end July / early August 2014, on a CNF
Karachiportbasis.
A.2 LDPE Summary

26

A2(a)PolymersAverageweeklypriceofLDPEGeneralPurpose
Jun
14
May
14
Apr
14
Mar
14
GeneralPurpose
South
Korea
1661 1660 1660 1660 1660 1660 1644 1656
Singapore 1671 1670 1670 1670 1670 1670 1654 1666
Thailand 1671 1670 1670 1670 1670 1670 1654 1666
Qatar 1671 1670 1670 1670 1670 1670 1624 1636
A.2 LDPE Price Chart & Graphical Trend

27

A2(b)PolymersAverageweeklypriceofLDPEHeavyDuty@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
HeavyDuty
South
Korea
1661 1660 1660 1660 1660 1660 1644 1656
Singapore 1671 1670 1670 1670 1670 1670 1654 1666
Thailand 1671 1670 1670 1670 1670 1670 1654 1666
Qatar 1671 1670 1670 1670 1670 1670 1624 1636

28

A2(c)PolymersAverageweeklypriceofLDPEMilkPouch@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
MilkPouch
South
Korea
1661 1660 1660 1660 1660 1660 1644 1656
Singapore 1671 1670 1670 1670 1670 1670 1654 1666
Thailand 1671 1670 1670 1670 1670 1670 1654 1666
Qatar 1671 1670 1670 1670 1670 1670 1624 1636

29

A2(d)PolymersAverageweeklypriceofLDPEInjectionMoulding@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
InjectionMoulding
South
Korea
1681 1680 1680 1680 1680 1680 1664 1676
Singapore 1691 1690 1690 1690 1690 1690 1674 1686
Thailand 1691 1690 1690 1690 1690 1690 1674 1686

30

PriceMovementofLDPECIFIndiabasisduring
March2014toJune2014(USD/Tonne)
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
GeneralPurpose
South
Korea
1670 1660 1670 1640
Singapore 1680 1670 1680 1650
Thailand 1680 1670 1680 1650
Qatar 1680 1670 1680 1620
HeavyDuty
South
Korea
1670 1660 1670 1640
Singapore 1680 1670 1680 1650
Thailand 1680 1670 1680 1650
Qatar 1680 1670 1680 1620
MilkPouch
South
Korea
1670 1660 1670 1640
Singapore 1680 1670 1680 1650
Thailand 1680 1670 1680 1650
Qatar 1680 1670 1680 1620
InjectionMoulding
South
Korea
1690 1680 1690 1660
Singapore 1700 1690 1700 1660
Thailand 1700 1690 1700 1670
Lamination
Qatar 1810 1810 1880 1810
A.2 LDPE Price Movement

31

PlantUpdateofLDPEforJune2014
LDPE
Petronas
Chemicals
Group(PCG)
Kerteh,
Malaysia
PE
240,000
mt/yr
16Jun14
Restarted.Itwas
shutfora
maintenance
turnaround.
SABIC Wilton,UK
Cracker
865,000
mt/yr
1stWeekof
July
Restarted.The
plantwasshutin
earlyMay2014
foramaintenance
turnaround.
LDPE 400,000 mt/yr
A.2 LDPE Plant Update

32

HDPEpricesclimbedinpartsofAsiaduringweek1.InFarEastAsia,pricesofHDPEfilmonJune
6wereassessedattheUSD1570/mtlevels,ariseofUSD5/mt.HDPEyarnpriceswereupatthe
USD 1590/mt levels, a gain of USD 10/mt from the previous week. HDPE injection moulding
priceswereassessedflatfromlastweekattheUSD1500/mtlevels.HDPEblowmouldingprices
were assessed lower at the USD 1505/mt CFR levels. In South East Asia, prices of HDPE film
were assessed stable at the USD 1590/mt levels. HDPE injection prices were flat at the USD
1555/mt levels. HDPE BM prices were unchanged at the USD 1560/mt levels while HDPE yarn
priceswereassessedsteadyattheUSD1590/mtlevels.InSouthAsia,pricesofHDPEinjection
and HDPE BM were assessed up at the USD 1580/mt levels, a rise of USD 15/mt from the
previous week. HDPE film prices were assessed higher at the USD 1590/mt CFR South Asia
levels.Reportsofsteadyregionaldemandtrendssupportedthepricegain.InChina,localprices
of HDPE film were steady at the Yuan 12020/mt ex works levels. In India, PetroRabigh, Saudi
Arabia has offered its HDPE film grade at the USD 1620/mt levels, for shipment in end June
2014, on a CIF Nhava Sheva port basis. Equate has offered its HDPE film grade at the USD
1580/mt levels, on a CIF Nhava Sheva port basis for shipment in June 2014. In plant news,
Petronashasrestartedits250,000mt/yearHDPEplant,locatedatKertih,Malaysia.Itwasshut
foramaintenanceturnaroundinearlyApril2014.
HDPE prices were assessed mixed in Asia during week 2. In Far East Asia, prices of HDPE film
prices on June 13 were assessed higher at the USD 1600/mt levels, a gain of USD 30/mt from
the previous week. HDPE yarn prices were up at the USD 1600/mt levels, a rise of USD 10/mt
from last week. HDPE injection moulding prices were assessed higher at the USD 1520/mt
levels,asharpincreaseofUSD20/mtfromthepreviousweek.HDPEblowmouldingpriceswere
assessedupattheUSD1520/mtCFRlevels.Pricesgainedonthebackofaliftinbuyinginterest
intheregion.InSouthEastAsia,pricesofHDPEfilmwereassessedlowerattheUSD1585/mt
levels, a decline of USD 5/mt from the previous week. HDPE injection prices were flat at the
USD 1555/mt levels. HDPE BM prices were unchanged from last week at the USD 1560/mt
levels. HDPE yarn prices were assessed up at the USD 1600/mt levels. In South Asia, prices of
HDPE injection and HDPE BM were assessed down at the USD 1570/mt levels, a fall of USD
10/mtfromthepreviousweek.HDPEfilmpriceswereassessedsteadyattheUSD1590/mtCFR
SouthAsialevels.Reportsofsoftbuyingtrendssupportedthepricefallintheregion.InChina,
localpricesofHDPEfilmwereupattheYuan12120/mtexworkslevels.
HDPE prices were assessed mixed in Asia during week 3. In Far East Asia, prices of HDPE film
prices on June 20 were assessed at the USD 1600/mt levels. HDPE yarn prices were up at the
USD 1615/mt levels, a rise of USD 15/mt from the previous week. HDPE injection moulding
prices were assessed higher at the USD 1530/mt levels, a gain of USD 10/mt from last week.
A.3 HDPE Summary

33

HDPE blow moulding prices were assessed up at the USD 1540/mt CFR levels. Reports of
improvedbuyingsentimentssupportedthepriceriseintheregion.InSouthEastAsia,pricesof
HDPE film were assessed lower at the USD 1580/mt levels, a decline of USD 5/mt from the
previous week. HDPE injection prices were lower at the USD 1550/mt levels. HDPE BM prices
were down at the USD 1550/mt levels. HDPE yarn prices were assessed lower at the USD
1595/mt levels. The price fall was on the back of dull demand trends coupled with weaker
upstreamethylenevalues.InSouthAsia,pricesofHDPEinjectionandHDPEBMwereassessed
flat at the USD 1570/mt levels. HDPE film prices were assessed up at the USD 1595/mt CFR
South Asia levels. Buying activity was reported as dull in the region. In China, local prices of
HDPE film were up at the Yuan 12220/mt ex works levels. In China, a Taiwanese producer is
heard to have offered its HDPE film grade at the USD 1625/mt CFR levels. Deals were heard
done at the USD 1610/mt CFR China levels. In plant news, PTT Global Chemical is in plans to
shut its 300,000 mt/year HDPE plant, located at Map Ta Phut, Thailand, for maintenance
turnaround.Theplantislikelytoremainoffstreamforaroundtwoweeks.
HDPEpriceswereassessedmixedinAsiaduringweek4.InFarEastAsia,pricesofHDPEfilmon
June27wereassessedattheUSD1595/mtlevels,afallofUSD5/mtfromlastweek.HDPEyarn
prices were up at the USD 1620/mt levels, a rise of USD 5/mt from the previous week. HDPE
injection moulding prices were assessed unchanged at the USD 1530/mt levels. HDPE blow
moulding prices were assessed steady at the USD 1540/mt CFR levels. Demand trends were
weakinkeymarketslikeChina.InSouthEastAsia,pricesofHDPEfilmwereassessedhigherat
the USD 1600/mt levels, a rise of USD 20/mt from the previous week. HDPE injection prices
were up at the USD 1570/mt levels. HDPE BM prices were unchanged at the USD 1550/mt
levels. HDPE yarn prices were assessed higher at the USD 1600/mt levels. Buying activity
howeverremainsdullintheregionaheadoftheholyMuslimmonthofRamadan.InSouthAsia,
pricesofHDPEinjectionandHDPEBMwereassessedflatattheUSD1570/mtlevels.HDPEfilm
prices were assessed stable at the USD 1595/mt CFR South Asia levels. Buying trends were
reported as soft in the region. In China, local prices of HDPE film were steady at the Yuan
12220/mtexworkslevels.In India,aMiddleEasternproducerhasoffereditsHDPEfilmgrade
at the USD 1610/mt levels, on a CIF Nhava Sheva port basis, for shipment in end July 2014. In
Pakistan, Sabic, Saudi Arabia is heard to have offered its HDPE film grade at the USD 1620/mt
CFRlevels,forshipmentinendJuly/earlyAugust2014,onaCNFKarachiportbasis.

34

A3(a)PolymersAverageweeklypriceofHDPERaffia@CIFIndiaBasisfor
June2014(USD/Tonne)
Jun
14
May
14
Apr
14
Mar
14
Raffia
South
Korea
1636 1630 1630 1630 1632 1621 1588 1590
Thailand 1626 1620 1620 1620 1622 1611 1578 1580
A.3 HDPE Price Chart & Graphical Trend

35

A3(b)PolymersAverageweeklypriceofHDPEFilm@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
Film
South
Korea
1616 1610 1610 1610 1612 1601 1568 1570
Singapore 1606 1600 1600 1600 1602 1591 1558 1560
Thailand 1616 1610 1610 1610 1612 1601 1568 1570
Saudi
Arabia
1586 1580 1580 1580 1582 1571 1538 1540
Kuwait 1586 1580 1580 1580 1582 1571 1538 1540

36

A3(c)PolymersAverageweeklypriceofHDPEInjectionMoulding@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
InjectionMoulding
South
Korea
1616 1610 1610 1610 1612 1601 1576 1580
Singapore 1606 1600 1600 1600 1602 1590 1566 1570
Thailand 1626 1620 1620 1620 1622 1609 1586 1590
Saudi
Arabia
1597 1590 1590 1590 1592 1581 1556 1560

37

A3(d)PolymersAverageweeklypriceofHDPEBlowMoulding@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
BlowMoulding
South
Korea
1587 1580 1580 1580 1582 1580 1558 1560
Singapore 1596 1590 1590 1590 1592 1590 1568 1570
Thailand 1596 1590 1590 1590 1592 1590 1568 1570

38

PriceMovementofHDPECIFIndiabasisduring
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Raffia
SouthKorea 1670 1630 1670 1580
Thailand 1660 1620 1660 1570
Film
SouthKorea 1650 1610 1650 1560
Singapore 1640 1600 1640 1550
Thailand 1650 1610 1650 1560
SaudiArabia 1620 1580 1620 1530
Kuwait 1620 1580 1620 1530
InjectionMoulding
SouthKorea 1650 1610 1650 1570
Singapore 1640 1600 1640 1560
Thailand 1660 1620 1660 1580
SaudiArabia 1640 1590 1640 1550
BlowMoulding
SouthKorea 1630 1580 1630 1550
Singapore 1630 1590 1630 1560
Thailand 1630 1590 1630 1560
Pipe
SouthKorea 1650 1610 1650 1580
HMHD
SouthKorea 1680 1640 1680 1610
Singapore 1670 1630 1670 1600

A.3 HDPE Price Movement

39

PlantUpdateofHDPEforJune2014
HDPE
PTTGlobal
Chemical
MapTa
Phut,
Thailand
HDPE
300,000
mt/yr
MidJune
2014
Maintenance
Turnaround
(2Weeks)
Shanghai
Petrochemical
Shanghai,
China
HDPE
250,000
mt/yr
17Jun14
Theshutdownhas
beenattributedto
anaccidentatthe
plant
PTTGlobal
Chemical
(PTTGC)
MapTa
Phut,
Thailand
HDPE
300,000
mt/yr
Endof3rd
weekofJune
Maintenance
turnaround
(2Weeks)
A.3 HDPE Plant Update

40

Polypropylene(PP)pricesinchedlowerinAsiaduringweek1.Thepricefallwasattributedtoa
lackofbuyinginterestintheregionandweakerupstreampropylenevalues.OnJune6,CFRFar
East Asia prices of PP raffia and PP injection were assessed at the USD 1505/mt levels. BOPP
prices were assessed steady at the USD 1520/mt levels. PP film prices were unchanged at the
USD 1525/mt levels. PP block copolymer were assessed down at the USD 1570/mt levels, a
dropofUSD10/mtfromlastweek.CFRSouthEastAsia,PPraffiaandPPinjectionpriceswere
assessedlowerattheUSD1545/mt,afallofUSD5/mtfromthepreviousweek.PPfilmprices
wereattheUSD1565/mtlevelswhilepricesofBOPPwereassessedattheUSD1565/mtlevels,
both down USD 5/mt from last week. PP block copolymer prices were assessed steady at the
USD 1600/mt levels. In South Asia, prices PP raffia and PP injection prices were assessed
unchangedattheUSD1540/mtlevels.PPfilmpriceswereassessedstableattheUSD1565/mt
levels. BOPP prices were assessed steady the USD 1565/mt levels. PP block copolymer prices
wereassessedupattheUSD1620/mtlevels.InthedomesticmarketsofChina,PPpriceswere
assessed higher at the Yuan 11620/mt ex works levels. In India, PetroRabigh, Saudi Arabia has
offered its PP raffia grade at the USD 1570/mt levels. PP impact copolymer grade has been
offeredattheUSD1630/mtlevels,forJune2014shipment,onaCIFNhavaShevaportbasis.In
Pakistan,Tasnee,SaudiArabiahasoffereditsPPraffiaandPPinjectiongradesattheUSD1560
1570/mt levels. These offers are for end June 2014 shipment, on a CNF Karachi port basis. In
plant news, Lotte Chemical Titan has resumed production at its 240,000 mt/year PP plant,
located in Pasir Gudang, Malaysia. The plant restarted on May 29, 2014. It was shut midMay
2014formaintenanceturnaround.
Polypropylene(PP)priceswereassessedmixedinAsiaduringweek2.OnJune13,CFRFarEast
AsiapricesofPPraffiaandPPinjectionwereassessedflatfromlastweekattheUSD1505/mt
levels.BOPPpriceswereassessedsteadyattheUSD1520/mtlevels.PPfilmpricesweredown
at the USD 1520/mt levels, a fall of USD 5/mt from last week. PP block copolymer were
assessedupattheUSD1580/mtlevels,aweekonweekriseofUSD10/mt.CFRSouthEastAsia,
PP raffia and PP injection prices wereassessed steady from last week at the USD1545/mt. PP
film prices were up at the USD 1575/mt levels, a gain of USD 10/mt from the previous week.
Prices of BOPP were assessed lower at the USD 1555/mt levels, down USD 10/mt from last
week. PP block copolymer prices were assessed steady at the USD 1600/mt levels. In South
Asia,pricesPPraffiaandPPinjectionpriceswereassessedunchangedfromthepreviousweek
at the USD 1540/mt levels. PP film prices were assessed higher at the USD 1580/mt levels.
BOPP prices were assessed steady the USD 1565/mt levels. PP block copolymer prices were
assessed down at the USD 1610/mt levels. In the domestic markets of China, PP prices were
assessedupattheYuan11820/mtexworkslevels.
A.4 PP Summary

41

Polypropylene(PP)priceswereassessedmixedinAsiaduringweek3.OnJune20,CFRFarEast
were assessed higher at the USD 1530/mt levels. PP film prices were up at the USD 1530/mt
levels,ariseofUSD10/mtfromthepreviousweek.PPblockcopolymerwereassessedsteady
at the USD 1580/mt levels. The price rise was a result of firmer feedstock propylene values
coupled with improved demand trends witnessed in key markets like China. CFR South East
Asia, PP raffia and PP injection prices were assessed down at the USD 1540/mt, a fall of USD
5/mt from last week. PP film prices were lower at the USD 1555/mt levels, a week on week
sharpdropofUSD20/mt.PricesofBOPPwereassessedlowerattheUSD1550/mtlevels,down
USD 5/mt on the week. PP block copolymer prices were assessed steady at the USD 1600/mt
levels. Prices dropped on the backof softer buying interest in theregion. In South Asia, prices
PP raffia and PP injection prices were assessed up at the USD 1550/mt levels. PP film prices
were assessed steady at the USD 1580/mt levels. BOPP prices were assessed higher the USD
1575/mt levels. PP block copolymer prices were assessed down at the USD 1600/mt levels. In
thedomesticmarketsofChina,PPpriceswereassessedstableattheYuan11820/mtexworks
levels. In India, LyondellBasell, Saudi Arabia is heard to have offered its PP raffia and PP
injection grades at the USD 1560/mt levels while PP film grade has been offered at the USD
1590/mtlevels.TheseoffersareforJulyshipment,onaCIFNhavaShevaportbasis.InPakistan,
Natpet,SaudiArabiahasoffereditsPPraffiaandPPinjectiongradesattheUSD1560/mtlevels,
forshipmentinendJuly/earlyAugust2014,onaCNFKarachiportbasis.
Polypropylene (PP) prices finished higher in parts of Asia during week4. The price rise was on
the back of firmer upstream crude, naphtha and propylene values. On June 27, CFR Far East
wereassessedunchangedattheUSD1530/mtlevels.PPfilmpriceswereflatfromlastweekat
theUSD1530/mtlevels.PPblockcopolymerwereassessedupattheUSD1590/mtlevels.CFR
SouthEastAsia,PPraffiaandPPinjectionpriceswereassessedupattheUSD1550/mt,ariseof
USD 10/mt from the previous week. PP film prices were higher at the USD 1565/mt levels, a
gain of USD 10/mt from last week. Prices of BOPP were assessed higher at the USD 1565/mt
levels, up USD 15/mt on the week. PP block copolymer prices were assessed up at the USD
1610/mtlevels.InSouthAsia,pricesofPPraffiaandPPinjectionwereassessedupattheUSD
1560/mt levels. PP film prices were assessed higher at the USD 1590/mt levels. BOPP prices
were assessed up the USD 1585/mt levels. PP block copolymer prices were assessed higher at
theUSD1615/mtlevels.InthedomesticmarketsofChina,PPpriceswereassessedloweratthe
Yuan11620/mtexworkslevels.

42

A4(a)PolymersAverageweeklypriceofPPRaffia@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
Raffia
South
Korea
1565 1563 1555 1555 1560 1544 1535 1553
Singapore 1565 1563 1555 1555 1560 1544 1535 1553
Thailand 1565 1563 1555 1555 1560 1544 1535 1553
Saudi
Arabia
1550 1548 1540 1540 1545 1529 1520 1538
A.4 PP Price Chart & Graphical Trend

43

A4(b)PolymersAverageweeklypriceofPPInjectionMoulding@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
InjectionMoulding
South
Korea
1565 1563 1555 1555 1560 1544 1535 1553
Singapore 1565 1563 1555 1555 1560 1544 1535 1553
Thailand 1565 1563 1555 1555 1560 1544 1535 1553
Saudi
Arabia
1550 1548 1540 1540 1545 1529 1520 1538

44

A4(c)PolymersAverageweeklypriceofPPTQFilm@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
TQFilm
South
Korea
1595 1593 1585 1585 1590 1574 1565 1583
Singapore 1595 1593 1585 1585 1590 1574 1565 1583
Thailand 1595 1593 1585 1585 1590 1574 1565 1583
Saudi
Arabia
1590 1588 1580 1580 1585 1569 1560 1578

45

A4(d)PolymersAverageweeklypriceofPPBlockCopolymer@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
BlockCopolymer
South
Korea
1620 1618 1610 1610 1615 1608 1600 1600
Singapore 1610 1608 1600 1600 1605 1598 1590 1590
Thailand 1610 1608 1600 1600 1605 1598 1590 1590

46

A4(e)PolymersAverageweeklypriceofPPRandomCopolymer@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
RandomCopolymer
South
Korea
1685 1683 1675 1675 1680 1673 1665 1665
Singapore 1685 1683 1675 1675 1680 1673 1665 1665
Thailand 1685 1683 1675 1675 1680 1673 1665 1665

47

A4(f)PolymersAverageweeklypriceofPPBOPP@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
BOPPHomopolymer
South
Korea
1590 1588 1580 1580 1585 1569 1560 1575
Singapore 1590 1588 1580 1580 1585 1569 1560 1575
Thailand 1600 1598 1590 1590 1595 1579 1570 1585

48

PriceMovementofPPCIFIndiabasisduring
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Raffia
SouthKorea 1565 1555 1565 1535
Singapore 1565 1555 1565 1535
Thailand 1565 1555 1565 1535
SaudiArabia 1550 1540 1550 1520
InjectionMoulding
SouthKorea 1565 1555 1565 1535
Singapore 1565 1555 1565 1535
Thailand 1565 1555 1565 1535
SaudiArabia 1550 1540 1550 1520
TQFilm
SouthKorea 1595 1585 1595 1565
Singapore 1595 1585 1595 1565
Thailand 1595 1585 1595 1565
SaudiArabia 1590 1580 1590 1560
BlockCopolymer
SouthKorea 1620 1610 1620 1600
Singapore 1610 1600 1610 1590
Thailand 1610 1600 1610 1590
RandomCopolymer
SouthKorea 1685 1675 1685 1665
Singapore 1685 1675 1685 1665
Thailand 1685 1675 1685 1665
BOPP
SouthKorea 1590 1580 1590 1560
Singapore 1590 1580 1590 1560
Thailand 1600 1590 1600 1570
A.4 PP Price Movement A.4 PP Price Movement

49

PlantUpdateofPPforJune2014
PP
SABICEurope
Geleen,The
Netherlands
PP
600,000
mt/yr
3rdWeekof
June
Maintenance
turnaround
(2Weeks)
OmanOil
refineriesand
Petroleum
Industries
Company
(Orpic)
Sohar,Oman PP
350,000
mt/yr
EndJune
EarlyJuly
2014 Maintenance
turnaround
(1Month)
Sibur
Tobolsk,
Russia
PP
500,000
mt/yr
EarlyJuly
2014
Maintenance
turnaround
Zhenhai
Refining&
Chemical
(ZRCC)
Zhejiang
province,
China
PP
200,000
mt/yr
Early3rd
weekofJune
Maintenance
turnaround
HMCPolymers
Rayong,
Thailand
PP
750,000
mt/year
3rdWeekof
June Maintenance
turnaround
(3Plants)
(Combined
capacity)
(1Month)
Total
Petrochemicals
Feluy,
Belgium
PP
900,000
mt/yr
26Jun14
Declaredaforce
majeureon
suppliesfromone
ofthree
polypropylene
(PP)lines.
A.4 PP Plant Update

50

PVCpricesedgedupinSouthEastAsiaduringweek1.CFRSouthEastAsiapricesofPVCwere
assessedupattheUSD1040/mtlevels,ariseofUSD5/mtfromthepreviousweek.Reportsof
limited product avails pushed prices higher in the region. Offers were heard at the USD
1070/mt CFR South East Asia levels. CFR China prices of PVC were assessed steady at the USD
1050/mt levels. Buyer resistance was seen building at higher price levels. In China, domestic
prices of ethylene based PVC were assessed down at the Yuan 6960/mt levels while carbide
based PVC were lower at the Yuan 6035/mt levels. Prices dropped on the back of sluggish
demand trends in the domestic markets. In India, a major South Korean producer has offered
itsPVCresinsuspensiongradeattheUSD1150/mtlevels,forshipmentinendJune2014,ona
CIFNhavaShevaportbasis.
PVCpricesinchedlowerinAsiaduringweek2.Aweekonweekfallinupstreamethylenevalues
coupledwithsofterbuyingpulsepushedpriceslowerintheregion.CFRSouthEastAsiaprices
ofPVCwereassesseddownattheUSD1035/mtlevels,adropofUSD5/mtfromtheprevious
week. CFR China prices of PVC were assessed lower at the USD 1045/mt levels, a fall of USD
5/mtfromlastweek.InChina,domesticpricesofethylenebasedPVCwereassessedupatthe
Yuan 7010/mt levels while carbide based PVC were at the Yuan 6035/mt levels. In China,
Formosa,TaiwanhasoffereditsPVCresinsuspensiongradeattheUSD1070/mtCFRlevels.
Despiteweakerupstreamethylenevalues,PVCpricesclimbedinAsiaduringweek3.CFRChina
pricesofPVCwereassessedupattheUSD1050/mtlevels,againofUSD5/mtfromlastweek.
Reports of a lift in buying activity in the region supported the price rise. CFR South East Asia
prices of PVC were assessed higher at the USD 1050/mt levels, a rise of USD 15/mt from the
previousweek.Pricesclimbedonthebackofreportsofconstrainedproductavailabilityinthe
region. In China, domestic prices of ethylene based PVC were assessed steady at the Yuan
7010/mtlevelswhilecarbidebasedPVCwereflatattheYuan6035/mtlevels.InIndia,amajor
SouthKoreanproducerisheardtooffereditsPVCresinsuspensiongradeattheUSD1135/mt
levels,forshipmentinJuly2014,onaCIFNhavaShevaportbasis.
PVCpricesdeclinedinAsiaduringweek4.Thepricefallwasattributedtopoordemandtrends
across Asia. CFR China prices of PVC were assessed down at the USD 1045/mt levels, a fall of
USD 5/mt from last week. CFR South East Asia prices of PVC were assessed lower at the USD
1045/mt levels, a drop of USD 5/mt from the previous week. In China, domestic prices of
ethylene based PVC were assessed up at the Yuan 7060/mt levels while carbide based PVC
were higher at the Yuan 6060/mt levels. In India, Ocean Plastic Co, Taiwan is heard to offered
itsPVCresinsuspensiongradeattheUSD1120/mtlevels(+AntiDumpingDuty),forshipmentin
endJuly2014,onaCIFNhavaShevaportbasis.CGPC,TaiwanhasconcludedfewdealsforPVC
A.5 Polyvinyl Chloride (PVC) Summary

51

resin at the USD 1090/mt levels (+Anti Dumping Duty), on a CIF Nhava Sheva port basis, for
shipmentinendJuly2014.AmajorSouthAfricanproducerhasoffereditsPVCresinsuspension
gradeattheUSD1120/mtlevels(+AntiDumpingDuty),forJulyshipment,onaCIFNhavaSheva
portbasis.
A5(a)PolymersAverageweeklypriceofPVCSuspension@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
Suspension
South
Korea
1121 1140 1140 1140 1135 1098 1064 1070
Thailand 1120 1120 1100 1100 1110 1091 1080 1080
Taiwan 1120 1120 1117 1100 1114 1080 1061 1070

A.5 - Polyvinyl Chloride (PVC) Price Chart & Graphical Trend

52

A5(b)PolymersAverageweeklypriceofPVCEmulsion@CIFIndiaBasis
Jun
14
May
14
Apr
14
Mar
14
Emulsion
South
Korea
1310 1310 1310 1310 1310 1290 1283 1298
Taiwan 1300 1300 1300 1300 1300 1280 1273 1288
PriceMovementofPVCCIFIndiabasisduring
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Suspension
South
Korea
1140 1120 1140 1050
Thailand 1120 1100 1120 1080
Taiwan 1120 1100 1120 1040
Emulsion
South
Korea
1310 1310 1310 1280
Taiwan 1300 1300 1300 1270

A.5 - Pol yvinyl Chloride (PVC) Price Movement

53

PlantUpdateofPVCforJune2014
PVC
NationalSalt
Industry
Inner
Mongolia,
China
PVC
400,000
mt/yr
6Jun14
Maintenance
Turnaround (1Month)
Westlake
Chemical
Giesmar,
Louisiana,
USA
PVC
500,000
mt/yr
4Jun14
Theplantwas
shutonJune4,
2014owingtoa
fire
Xinjiang
Zhongtai
Chemical
Xinjiang,
China
PVC
800,000
mt/yr
Jul14
Maintenance
turnaround
(2Plants)
(Combined
capacity)
Ineos
ChlorVinyls
Mazingarbe,
France
PVC
225,000
mt/yr
Jul14
Maintenance
turnaround (3Weeks)
Ineos
ChlorVinyls
Beek,
Netherlands
PVC
225,000
mt/yr
EndJune
2014
Theplantis
plannedtobe
restarted.Itis
undera
maintenance
turnaroundfor
around4weeks.
A.5 PVC Plant Update

54

A week on week fall in upstream SM values pushed GPPS prices lower in Asia during week 1.
CFR China prices of GPPS were assessed down at the USD 1700/mt levels, a fall of USD 10/mt
from last week while CFR South East Asia prices of GPPS were assessed lower at the USD
1715/mtlevels,asharpdropofUSD25/mtfromthepreviousweek.InChina,HIPSpriceswere
assessed steady at the USD 1735/mt CFR mark while CFR South East Asia prices of HIPS were
assessed unchanged at the USD 1775/mt levels. EPS prices were assessed stable at the USD
1705/mt FOB North East Asia markfor generalpurpose grades. In plant news, Toyo Styrene is
likely to shut its 130,000 mt/year PS plant, located in Chiba, Japan, for a maintenance
turnaroundinJune2014.
PS prices finished higher in Asia during week 2. The price rise was a result of a sharp gain in
feedstockSMvalues.CFRChinapricesofGPPSwereassessedupattheUSD1705/mtlevels,a
gainofUSD5/mtfromlastweekwhileCFRSouthEastAsiapricesofGPPSwereassessedhigher
at the USD 1720/mt levels, a rise of USD 5/mt from the previous week. In China, HIPS prices
wereassessedattheUSD1740/mtCFRmark,ariseofUSD5/mtfromlastweek.CFRSouthEast
AsiapricesofHIPSwereassessedattheUSD1785/mtlevels,upUSD10/mtfromtheprevious
week.FirmerupstreambutadienevaluespushedpricesofHIPShigherintheregion.EPSprices
meanwhile were assessed stable at the USD 1705/mt FOB North East Asia mark for general
purposegrades.
Despite a week on week fall in feedstock SM values, GPPS prices were assessed stable in Asia
duringweek3.CFRChinapricesofGPPSwereassessedflatfromlastweekattheUSD1705/mt
levelswhileCFRSouthEastAsiapricesofGPPSwereassessedunchangedattheUSD1720/mt
levels.Buyingtrendswerereportedasdullintheregion.InChina,HIPSpriceswereassessedat
the USD 1740/mt CFR mark, a rise of USD 5/mt from last week. CFR South East Asia prices of
HIPS were assessed at the USD 1785/mt levels, up USD 10/mt from the previous week. The
price rise was supported by firmer feedstock butadiene values. EPS prices meanwhile were
assessedstableattheUSD1705/mtFOBNorthEastAsiamarkforgeneralpurposegrades.
PSpricesinchedhigherinAsiaduringweek4.AsharpgaininfeedstockSMratessupportedthe
priceriseintheregion.CFRChinapricesofGPPSwereassessedupattheUSD1710/mtlevels
whileCFRSouthEastAsiapricesofGPPSwereassessedhigherattheUSD1725/mtlevels,both
upUSD5/mtfromthepreviousweek.InChina,HIPSpriceswereassessedattheUSD1755/mt
CFRmark,ariseofUSD5/mtfromlastweek.CFRSouthEastAsiapricesofHIPSwereassessed
flat at the USD 1795/mt levels. Higher upstream butadiene rates pushed prices higher. EPS
pricesmeanwhilewereassessedupattheUSD1720/mtFOBNorthEastAsiamarkforgeneral
purposegrades.
A.6 Polystyrene (PS) Summary

55

A6PolymersAverageweeklyPolystyreneprices
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
PolystyreneGPPS
FarEast 1709 1705 1703 1703 1705 1717 1736 1726
SEAsia 1724 1720 1718 1723 1721 1753 1765 1747
PolystyreneHIPS
FarEast 1754 1747 1738 1735 1744 1757 1776 1773
SEAsia 1795 1792 1782 1775 1786 1791 1818 1799
A.6 Polystyrene (PS) Price Chart & Graphical Trend

56

PriceMovementofPSduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
PolystyreneGPPS
FarEast 1710 1700 1750 1700
SEAsia 1740 1715 1770 1715
PolystyreneHIPS
FarEast 1755 1735 1800 1730
SEAsia 1795 1775 1830 1760
PlantUpdateofPSforJune2014
PS
Petrochemicals
(Malaysia)
PasirGudang,
Malaysia
HIPS
110,000
mt/yr
Dec14
Maintenance
turnaround. (1Month)
StyronHong
Kong
HongKong PS
200,000
mt/yr
Sep14
Maintenance
turnaround (1Month)
MingDih
Group
Kaohsiung,
Taiwan
EPS
180,000
mt/yr
21Jun14
Maintenance
turnaround (1Month)
Styrolution
Wingles,
France
GPPS/
HIPS
180,000
mt/yr
Early3rd
weekofJune
Restarted.The
GPPSlinewas
shutonJune1
whiletheHIPS
linewasshutfor
aroundoneweek.
A.6 Polystyrene (PS) Price Movement
A.6 Polystyrene (PS) Plant Update

57

ABSpricesslippedinAsiaduringweek1.Thepricefallwastriggeredbysubduedbuyinginterest
coupledwithadropinfeedstockSMvalues.CFRChinapricesofABSwereassesseddownatthe
USD1880/mtlevels,afallofUSD15/mtfromlastweek.CFRSouthEastAsiapricesofABSwere
assessedlowerattheUSD1915/mtCFRlevels,adeclineofUSD5/mtfromthepreviousweek.
In China, a South Korean producer has offered ABS at the USD 1890/mt CFR China levels. In
plantnews,JamPetrochemicalisinplanstostartupanew200,000mt/yearABSplant,located
inAssaluyeh,Iran,towardstheendof2016.
ABS prices edged up in Asia during week 2. CFR China prices of ABS were assessed up at the
USD1885/mtlevels,ariseofUSD 5/mtfromthepreviousweek.Pricesclimbedmainlyonthe
backoffirmerupstreamSM,butadieneandACNvalues.CFRSouthEastAsiapricesofABSwere
assessed steady from last week at the USD 1915/mt CFR levels. In India, a South Korean
producer has offered ABS resin at the USD 19301940/mt levels, on a CIF Nhava Sheva port
basis,forshipmentinendJune2014.InChina,aTaiwaneseproducerisofferingitsABSresinat
theUSD1970/mtCFRlevels.
ABSpricesclimbedinpartsofAsiaduringweek3.CFRChinapricesofABSwereassessedupat
the USD 1900/mt levels, a rise of USD 15/mt from the previous week. The price rise was
attributed to firmer upstream butadiene and ACN values. CFR South East Asia prices of ABS
were assessed steady at the USD 1915/mt CFR levels. In China, a South Korean producer is
heard to have offered its ABS resin at the USD 1920/mt CFR China levels, for shipment in July
2014. In plant news, Kumho Petrochemical is currently operating its 250,000 mt/year of ABS
plant,locatedinUlsan,SouthKorea,ataround95%ofproductioncapacitylevels.
FirmerfeedstockSM,butadieneandACNvaluespushedABSpriceshigherinAsiaduringweek
4. CFR China prices of ABS were assessed up at the USD 1920/mt levels, a rise of USD 20/mt
from the previous week. CFR South East Asia prices of ABS were assessed higher at the USD
1920/mtCFRlevels,againofUSD5/mtfromlastweek.InChina,aTaiwaneseproducerisheard
tohaveoffereditsABSresinattheUSD1990/mtCFRChinalevels.
A.7 ABS Summary

58

A7PolymersAverageweeklyABSpricesonCIFIndiabasis
Jun
14
May
14
Apr
14
Mar
14
ABS
South
Korea
1940 1940 1947 1960 1947 1960 1930 1938
Thailand 1920 1920 1927 1940 1927 1940 1910 1941
A.7 ABS Price Chart & Graphical Trend

59

PriceMovementofABSonCIFIndiabasisduring
Grade Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
ABS
South
Korea
1960 1940 1960 1930
Thailand 1940 1920 1950 1910
A.7 ABS Price Movement

60

TradingsourcesreportedthatbenzenepricesinAsiaonJune2havedeclinedonthebackofa
fallinupstreamenergyvalues,weakerdownstreamSMratescoupledwithsofterbuyingtrends
witnessedintheregion.FOBKoreapricesofbenzenewereassesseddownattheUSD1275/mt
levels,afallofUSD10/mtfromMay30assessedlevels.
DespiteafallindownstreamSMvalues,benzenepricesinchedhigherinAsiaonJune3.Higher
upstreamtolueneratessupportedthepricerise.FOBKoreapricesofbenzenewereassessedup
attheUSD1280/mtlevels,adayondayriseofUSD5/mt.
Despite a fall in upstream energy values, benzene prices finished higher in Asia on June 4.
ReportsofstrongbuyingtrendsinkeymarketslikeChinasupportedthepricegain.FOBKorea
pricesofbenzenewereassessedupattheUSD1295/mtlevels,ariseofUSD15/mtontheday.
BenzenepricesinAsiaclimbedonJune5.Pricesfirmedonthebackofbullishupstreamenergy
rates,strongbuyingtrendscoupledwithagainindownstreamSMvalues.FOBKoreapricesof
benzene were assessed at the USD 1305/mt mark, a day on day gain of USD 10/mt. Firmer
benzenevaluesintheUSfurthersupportedthepricerise.
Benzene prices in Asia climbed during week 1. Gains came on the back of a lift in demand on
theonehandcoupledwithstrengthinbenzenevaluesintheUSontheother.Alsosupporting
firmerpriceswerebullishpricesofdownstreamSM.OnJune6,althoughpricesdeclinedonthe
day, benzene was assessed at the USD 1300/mt FOB Korea levels, an increase of USD 15/mt
fromthepreviousweek.InChina,pricesofbenzenewereheardattheYuan9400/mtlevels.In
plantnews,TaiyoOilislikelytoshutitsaromaticsplant,locatedatKikumainJapan,onJune9,
2014 for a maintenance turnaround. It is expected to remain shut until August 29, 2014. The
aromatics plant has a benzene production capacity of 450,000 mt/year and isomergrade
xyleneproductioncapacityof400,000mt/year.
BenzenepricesinAsiafinishedhigheronJune10.Pricesclimbedonthebackoffirmerbenzene
values in the US. Supporting the price rise was a gain in downstream SM values coupled with
improved demand trends in the region. FOB Korea prices of benzene were assessed up at the
USD1310/mtlevels,adayondayriseofUSD10/mt.
Despitehigherupstreamenergyvalues,benzenepricesinAsiainchedloweronJune11.Prices
fell on the back of weaker toluene rates. FOB Korea pricesof benzenewere assessed down at
theUSD1305/mtlevels,adropofUSD5/mtontheday.OffersforJulywereheardattheUSD
B. Aromatics
B1 Benzene Summary

61

1310/mt FOB Korea levels. Buyer bids were heard at the USD 1290/mt FOB Korea levels. The
pricefallwasfurthersupportedbyweakerbenzenevaluesintheUSandEurope.
Benzene prices inched higher in Asia on June 12. The price gains were prompted by an open
arbitrage window to the US. The price rise wasfurther supported by asharp gain in upstream
energy values. FOB Korea prices of benzene was assessed up at the USD 1310/mt FOB Korea
mark,adayondayriseofUSD5/mt.
Benzene prices in Asia bolstered higher during week 2. Firmer upstream energy values and a
rise in downstream SMrates together supported the sharppricerise. A steep gain in benzene
ratesintheUSfurthersupportedthepricegain.OnJune13,pricesofbenzenewereassessed
upattheUSD1340/mtFOBKorealevels,asharpgainofUSD40/mtfromlastweek.
Benzene prices in Asia edged lower on June 16. The price fall was prompted by a decline in
upstream crude values coupled with soft buying trends in the region. FOB Korea prices were
assesseddownattheUSD1335/mtlevels,adropofUSD5/mtfromJune13assessedlevels.
Despite firmer upstream energy values, benzene prices in Asia edged lower on June 18. The
price fall was a result of muted buying interest witnessed in the region. FOB Korea prices of
benzene were assessed down at the USD 1330/mt levels, a drop of USD 5/mt on the day. In
China,benzenepricesweresteadyattheYuan9450/mtlevels.
Benzene prices in Asia marched higher on June 19. Prices leapt higher on the back of strong
global energy values, rising prices of naphtha and a gain in downstream SM prices. FOB Korea
pricesofbenzenewereassessedupattheUSD1350/mtlevels,adayondayriseofUSD20/mt.
AlsobullishforspotbenzenewasasharpincreaseinbenzeneratesintheUS.
Benzene prices in Asia firmed during week 3. Gains came on the back of firmer global energy
rates, higher naphtha prices and mostly because of a spike recorded in benzene prices in the
west including both in the US and Europe. Reports of constrained product availability in the
regionfurthersupportedthesharppricerise.OnJune20,pricesofbenzenewereassessedup
attheUSD1375/mtFOBKorealevels,asharpincreaseofUSD35/mtfromthepreviousweek.
Benzene prices in Asia raced higher on June 23. Reports of fresh demand for prompt cargoes
coupled with strength in downstream SM values, allowed benzene sellers to steer their offers
higher. Supporting the gains was strength in benzene prices in the west, including in both
EuropeandtheUS.FOBKoreapricesofbenzenewereassessedupattheUSD1415/mtlevels,a
steepriseofUSD40/mtfromJune20assessedlevels.
Benzene prices in Asia slipped on June 24. The price fall was triggered by a drop in upstream
toluenevaluesandweakerdownstreamSMrates.FOBKoreapricesofbenzenewereassessed
downattheUSD1405/mtlevels,adayondaydeclineofUSD10/mt.

62

Benzene prices in Asia marched higher on June 25. Prices climbed on the back of firmer
benzene rates in the US. Higher downstream SM values further supported the price rise. FOB
KoreapricesofbenzenewereassessedupattheUSD1425/mtlevels,adayondayriseofUSD
20/mt.Inthecontractmarkets,JXNipponOilandEnergyhasnominateditsJulybenzeneprice
at the USD 1480/mt CFR Asia levels. This price represents a steep rise of USD 190/mt from its
Junesettlementlevels.
Benzene prices bolstered higher in Asia during week 4. Strength in naphtha costs and firm
prices of benzene in the US supported the price climb. Also bullish for benzene were gains
recorded in downstream SM values. On June 27, although prices edged lower on the day,
benzene was assessed at the USD 1420/mt FOB Korea levels, a sharp rise of USD 45/mt from
the previous week. In plant news, SK Innovation has delayed the startup of a new aromatics
planttomidJuly2014.TheplantwasinitiallyscheduledtostartinthefirstweekofJuly2014.It
is being speculated that the delayed startup isa result of prevailing weak PX margins. Located
at Incheon, South Korea, the plant has a paraxylene capacity of 1.3 million mt/year and
benzenecapacityof450,000mt/year.
BenzenepricesdeclinedinAsiaonJune30.Pricesdroppedasbuyingsentimentsintheregion
weakened. Supporting the fall in benzene prices was a decline in upstream crude values. FOB
Korea prices of benzene were assessed down at the USD 1410/mt levels, a fall of USD 10/mt
from June 27 assessed levels. The price fall was further supported by lower benzene values in
theUS.
B1(a)AromaticsAverageweeklyBenzenePrices
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Benzene
FOB
Korea
1417 1350 1318 1293 1345 1260 1273 1248
CFR
Japan
1422 1355 1323 1298 1350 1265 1278 1253
CFR
India
1427 1360 1328 1303 1355 1270 1283 1258
B1 Benzene Price Chart & Graphical Trend

63

PriceMovementofBenzeneduring
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Benzene
FOB
Korea
1425 1275 1425 1220
CFRJapan 1430 1280 1430 1225
CFRIndia 1435 1285 1435 1230
B1 Benzene Price Movement

64

PlantUpdateofBenzeneforJune2014
Benzene
TaiyoOil
Kikuma,
Japan
Benzene
450,000
mt/yr
Aug14
Theplantis
plannedtobe
restarted.Itwas
shutlastweekfor
maintenance
turnaround.
Isomer
MX
400,000
mt/yr
YeochunNCC
(YNCC)
Yeosu,South
Korea
Benzene
110,000
mt/yr
MidSept
2014
Planstoshutits
No.3aromatics
plantfor
maintenance
turnaround
Toluene 60,000mt/yr (1Month)
Solvent
MX
30,000mt/yr
OCIChemical
Yeosu,South
Korea
Benzene
150,000
mt/year
Oct14 Maintenance
Turnaround (20Days)
TransPacific
Petrochemical
Indotama
(TPPI)
EastJava,
Indonesia
Benzene
350,000
mt/year
Aug14
Theplantis
plannedtobe
restarted.Itwas
shutonMay2014
owingtopoor
paraxylene(PX)
margins.
PX
550,000
mt/year
B1 Benzene Plant Update

65

Toluene prices in Asia inched higher on June 3. The price rise was a result of a rise in
downstream benzene values and limited product availability in the region. FOB Korea prices
wereassessedupattheUSD1070/mtlevels,againofUSD5/mtontheday.CFRChinaprices
were higher at the USD 1080/mt levels. In China, local rates of toluene were at the Yuan
7800/mtextanklevels.
ToluenepricesinAsiaclimbedonJune5.Pricesgainedinlinewithimprovedbuyingsentiments
in the region coupled with a rise in upstream energy and downstream benzene values. FOB
KoreapriceswereassessedupattheUSD1080/mtlevels,adayondaygainofUSD10/mt.CFR
ChinapriceswerehigherattheUSD1085/mtlevels.InthedomesticmarketsofChinatoluene
priceswereupattheYuan7990/mtextanklevels.
Toluene prices in Asia marched higher during week 1. Strong demand trends coupled with a
bullisharomaticscomplexsupportedsellereffortstorevisetheirspottoluenerateshigher.On
June 6, toluene prices were assessed up at the USD 1085/mt FOB Korea levels, a gain of USD
25/mt from last week. CFR China prices were assessed higher at the USD 1105/mt levels, a
sharp rise of USD 30/mt from the previous week. CFR South East Asia prices were assessed
higher at the USD 1105/mt levels, a rise of USD 15/mt from last week. CFR India prices were
assessed at the USD 1150/mt levels. In the domestic markets of China, prices of toluene were
upattheYuan8050/mtextanklevels.
Despite a rise in upstream energy values, toluene prices inched lower in Asia on June 11. The
price drop was a result of sluggish buying pulse coupled with a fall in downstream benzene
values. FOB Korea prices of toluene were assessed down at the USD 1090/mt mark, a day on
dayfallofUSD5/mtCFRChinapriceswereassessedattheUSD1115/mtlevels.Inthedomestic
markets,pricesoftoluenewereassessedlowerattheYuan8070/mtextanklevels.
ToluenepricesinAsiainchedhigheronJune12.Thepricerisewasaresultofhigherupstream
energy rates, a gain in downstream benzene values and improved buying pulse in the region.
FOBKoreapriceswereassessedupattheUSD1095/mtlevels,adayondaygainofUSD5/mt.
CFRChinapriceswereattheUSD1115/mtlevels.InChina,localratesoftoluenewerelowerat
theYuan8015/mtextanklevels.
Toluene prices in Asia firmed during week 2. The price rise was triggered on reports of
constrained product avails, firmer upstream energy values and bullish buying interest in the
region. On June 13, toluene prices were assessed up at the USD 1120/mt FOB Korea levels, a
sharp gain of USD 35/mt from last week. CFR China prices were assessed higher at the USD
B2 Toluene Summary

66

1130/mt levels, a rise of USD 25/mt from the previous week. CFR South East Asia prices were
assessed at the USD 1120/mt levels while CFR India prices were assessed at the USD 1165/mt
levels,bothupUSD15/mtfromthepreviousweek.InthedomesticmarketsofChina,pricesof
toluenewereupattheYuan8070/mtextanklevels.
Toluene prices in Asia firmed on June 16. Prices gained in line with improved buying trends in
the region and firmer upstream energy values. FOB Korea prices wereassessed up at the USD
1140/mtlevels,againofUSD20/mtfromJune13assessedlevels.CFRChinapriceswerehigher
attheUSD1155/mtlevels.InthedomesticmarketsofChinatoluenepriceswerehigheratthe
Yuan 8120/mt ex tank levels. In plant news, LG Chemical is likely to shut its aromatics plant
located at Yeosu, South Korea, in October 2014 for a maintenance turnaround. The plant is
expectedtoremainshutforaround3540daysandtheplanthasatoluenecapacityof100,000
mt/year, benzene capacity of 240,000 mt/year and solvent MX production capacity of 55,000
mt/year.
ToluenepricesinAsiadeclinedonJune17.Thepricefallwasattributedtoweakbuyinginterest
in the region. FOB Korea prices of toluene were assessed down at the USD 1130/mt levels, a
day on day fall of USD 10/mt. CFR China prices of toluene were assessed lower at the USD
1140/mtlevels.InthedomesticmarketsofChina,pricesoftoluenewereassesseddownatthe
Yuan8080/mtextanklevels.
Toluene prices in Asia climbed on June 18. Prices gained in line with higher upstream energy
rates, improved buying sentiments and constrained product avails in the region. FOB Korea
priceswereassessedupattheUSD1140/mtlevels,againofUSD10/mtontheday.CFRChina
priceswereattheUSD1140/mtlevels.InthedomesticmarketsofChinatoluenepriceswereat
theYuan8060/mtextanklevels.
ToluenepricesfirmedonJune19inAsia.Strengthinupstreamenergypricessupportedtherise
inspottolueneratesasdidreportsofimprovedbuyingactionintheregion.FOBKoreapricesof
toluene were assessed at the UDS 1150/mt levels, a gain of USD 10/mt on the day. CFR China
prices of toluene were assessed up at the USD 1145/mt levels. In China, local toluene prices
were up at the Yuan 8120/mt ex tank levels. Bullish toluene rates in Europe and the US also
contributedtowardthepriceincreaseinAsiantoluenerates.
Toluene prices in Asia were galloped higher during week 3. Riding firm on the back of bullish
globalenergyratescoupledwithfirmpricesofotheraromatics,sellersoftoluenewereableto
justify the price rise without much resistance. Strong buying interest witnessed in the region
further supported the price rise. On June 20, toluene prices were assessed up at the USD
1160/mt FOB Korea levels, a sharp gain of USD 40/mt from last week. CFR China prices were

67

SouthEastAsiapriceswereassessedattheUSD1140/mtlevels.CFRIndiapriceswereassessed
at the USD 1190/mt levels, a rise of USD 25/mt from last week. In the domestic markets of
China,pricesoftoluenewereupattheYuan8200/mtextanklevels.
ToluenepricesinAsiamarchedhigheronJune23.Pricesclimbedonthebackoffirmingprices
of toluene in the west, including in both the US and European markets. Supporting the price
rise in toluene was a spike in downstream benzene rates. FOB Korea prices of toluene were
assessedupattheUDS1190/mtlevels,againofUSD30/mtfromJune20assessedlevels.CFR
ChinapricesoftoluenewereassessedhigherattheUSD1190/mtlevels.InChina,localtoluene
priceswereupattheYuan8375/mtextanklevels.
As demand trends for spot toluene cargoes slowed in Asia on June 24, sellers were forced to
lower their rates. The price fall was further supported by weaker downstream benzene rates.
FOBKoreapricesoftoluenewereassessedattheUSD1175/mtFOBKorealevels,adayonday
drop of USD 15/mt. In China too where demand for toluene has softened, local prices were
downattheYuan8325/mtextanklevels.
Toluene prices in Asia finished higher on June 25. Prices firmed on the back of a rise in
downstream benzene rates. FOB Korea prices were assessed up at the USD 1200/mt levels, a
sharp rise of USD 25/mt on the day. CFR China prices of toluene were assessed higher at the
USD1200/mtlevels.InChina,localrateswerehigherattheYuan8450/mtextanklevels.Arise
intolueneratesintheUSsupportedthepricegain.
ToluenepricesinAsiaweregallopedhigherduringweek4.Thepricerisewastriggeredbythe
strength in downstream benzene values, strong demand trends and higher toluene values in
the US. On June 27, although prices dropped on the day, toluene was assessed at the USD
1205/mt FOB Korea levels, a sharp gain of USD 45/mt from last week. CFR China prices were
assessed at the USD 1205/mt levels, a rise of USD 45/mt from the previous week. CFR South
EastAsiapriceswereassessedupattheUSD1185/mtlevels.CFRIndiapriceswereassessedat
the USD 1215/mt levels. In the domestic markets of China, prices of toluene were up at the
Toluene prices in Asia drifted lower on June 30. The price fall was attributed to dull buying
interest in the region. The sharp price drop was supported by a fall in upstream crude values
and weaker downstream benzene rates. FOB Korea prices of toluene were assessed down at
the USD 1180/mt levels, a sharp drop of USD 25/mt from June 27 assessed levels. CFR China
prices of toluene were assessed lower at the USD 1195/mt levels. In the domestic markets of
China,pricesoftoluenewereassesseddownattheYuan8500/mtextanklevels.

68

B2AromaticsAverageweeklyToluenePrices
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Toluene
FOBKorea 1196 1147 1101 1076 1130 1056 1070 1053
CFRJapan 1200 1150 1118 1088 1139 1069 1091 1066
CFRSEA 1159 1127 1110 1095 1123 1089 1095 1084
CFRIndia 1201 1173 1155 1150 1170 1129 1133 1112
CFRChina 1200 1150 1118 1088 1139 1069 1091 1066
B2 Toluene Price Chart & Graphical Trend

69

PriceMovementofTolueneduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Toluene
FOBKorea 1220 1065 1220 1010

CFRJapan 1220 1070 1220 1025
CFRSEA 1185 1090 1185 1050
CFRIndia 1215 1150 1215 1070
CFRChina 1220 1075 1220 1025
B2 Toluene Price Movement B2 Toluene Price Movement

70

Paraxylene(PX)pricesedgedlowerinAsiaonJune2.Thepricefallwasonthebackofweaker
upstream energy and isomer MX values. Supporting the price drop was weak downstream
polyester demand trends. FOB Korea prices of PX were assessed down at the USD 1230/mt
levels,afallofUSD10/mtMay30assessedlevels.CFRChinapriceswereassessedloweratthe
USD 1250/mt levels. Buying trends were quiet on account of a public holiday in China.
UpstreamIsomerMXpriceswereattheUSD1040/mtFOBKorealevels.Inplantnews,Hyundai
Cosmo Petrochem has shut its No.2 aromatics plant on June 1, 2014, owing to negative PX
margins. Located in Daesan, South Korea, the No 2 plant has a PX production capacity of
800,000mt/yearandbenzenecapacityof120,000mt/year.
DespiteriseinupstreamIsomerMX,AsianPXpricesedgedloweronJune3.Thepricefallwas
supported by strong selling activity witnessed in the region. FOB Korea prices of PX were
assesseddownattheUSD1225/mtlevels,adayondayfallofUSD5/mt.CFRChinapriceswere
assessed lower at the USD 1245/mt levels. Feedstock Isomer MX prices meanwhile were
assessedhigherattheUSD1065/mtCFRTaiwanlevels.
PX prices in Asia firmed on June 4. The price rise was mainly on account of improved buying
actionwitnessedintheregion.SupportingtheriseinPXpricesweregainsinupstreamisomer
MX values and firmer downstream PTA rates. FOB Korea prices of PX were assessed up at the
USD1240/mtlevels,adayondayriseofUSD15/mt.CFRTaiwanpriceswereassessedhigherat
theUSD1260/mtlevels.IsomerMXpricesalsoclimbedinAsia.FOBKoreapriceswereassessed
upattheUSD1050/mtlevels,ariseofUSD10/mtontheday.CFRTaiwanpricesofIsomerMX
were assessed higher at the USD 1075/mt levels. In plant news, SK Innovation has delayed
startup of its new aromatics plant to midJuly 2014. The plant is located at Incheon, South
Korea and has a PX production capacity of 1.3 mmt/year and benzene capacity of 450,000
mt/year.
PX prices inAsia firmedon June 5. The price rise was triggered bya climb in upstream Isomer
MXanddownstreamPTAvalues.PricesclimbedinanticipationoftightPXproductavailabilityin
theregion,goingforward.FOBKoreapricesofPXwereassessedupattheUSD1260/mtlevels,
a rise of USD 20/mt on the day. CFR Taiwan prices were assessed higher at the USD 1280/mt
levels. Feedstock Isomer MX prices were assessed up at the USD 1070/mt FOB Korea levels, a
gain of USD 20/mt on the day. Firmer PX values in the US further supported the price rise. In
plant news,Idemitsu Kosan is likelyto shut its aromatics plant, located in Chiba, Japan, in July
2013 for a long maintenance turnaround. The No.1 aromatics plant has a PX production
capacity of 270,000 mt/year, benzene capacity of 575,000 mt/year and isomer MX production
capacityof353,000mt/year.Theplantisexpectedtoremainshutforaround2months.
B3 Xylene Summary

71

Orthoxylene (OX) prices in Asia edged lower during week 1. Prices fell as the buying mood
turnedbearishacrosstheregion.AdeclineindownstreamPApricessupportedthedropinspot
OXnumbers.FOBKoreapricesofOXwereassessedattheUSD1160/mtlevelswhileCFRSouth
EastAsiapriceswereassessedattheUSD1125/mtlevels,bothdownUSD5/mtfromlastweek.
CFRChinapriceswereassessedlowerattheUSD1185/mtlevels,adropofUSD5/mtfromthe
previousweek.InChina,pricesofOXwereattheYuan8500/mtlevels.Meanwhile,PXpricesin
Asia marched higher. Supporting the price spike was a climb in Isomer MX values and
downstream PTA rates. Prices also firmed on the back of short covering activity witnessed in
the region. On June 6, prices of PX were assessed up at the USD 1260/mt FOB Korea levels, a
rise of USD 20/mt from last week. CFR China prices of PX were assessed higher at the USD
1280/mtlevelswhileCFRSouthEastAsiapricesofPXwereattheUSD1280/mtlevels,bothup
USD20/mtfromthepreviousweek.SolventMXpricesalsobolsteredhigherinAsia.FOBKorea
prices of solvent MX were assessed up at the USD 1045/mt levels, a sharp rise of USD 25/mt
fromlastweek.CFRChinapriceswereassessedhigherattheUSD1080/mtlevels,againofUSD
25/mtontheweek.CFRSouthEastAsiapriceswereassessedupattheUSD1090/mtlevels,a
sharpincreaseofUSD30/mtfromthepreviousweek.IsomerMXpricesalsofirmedinAsia.FOB
Korea prices of isomer MX were was assessed up at the USD 1070/mt levels, a sharp gain of
USD 30/mt from the previous week. CFR Taiwan price were assessed higher at the USD
1090/mtlevels,aweekonweekriseofUSD25/mt.CFRSouthEastAsiapriceswereassessedup
at the USD 1095/mt levels, up USD 25/mt from last week. In plant news, SK Innovation has
delayedthestartupofanewaromaticsplanttomidJuly2014.Theplantwasinitiallyscheduled
tostartinthefirstweekofJuly2014.Itisbeingspeculatedthatthedelayedstartupisaresult
of prevailing weak PX margins. Located at Incheon, South Korea, the plant has a paraxylene
capacity of 1.3 million mt/year and benzene capacity of 450,000 mt/year. In another plant
news,SamsungTotalislikelytostartcommercialoutputatitsnewNo.2aromaticsplant.The
operations are planned to be started in midJuly 2014. Presently, the company is undertaking
aninternalsafetyauditattheplant.LocatedatDaesan,theplanthasaparaxylenecapacityof1
millionmt/yearandbenzenecapacityof420,000mt/year.
Isomer MX prices in Asia edged higher on June 10. Gains were prompted by improved buying
action in the region. FOB Korea prices of Isomer MX were assessed up at the USD 1075/mt
levels, a rise of USD 10/mt on the day. CFR Taiwan prices were assessed higher at the USD
1095/mt levels. Downstream PX prices were assessed steady at the USD 1260/mt FOB Korea
levels.
IsomerMXpricesinAsiaedgedloweronJune11.DullbuyinginterestinkeymarketslikeChina
supported the price fall. FOB Korea prices of Isomer MX were assessed down at the USD
1070/mtlevels,adayondayfallofUSD5/mt.CFRTaiwanpricesofIsomerMXwereassessed
lowerattheUSD1095/mtlevels,adeclineofUSD5/mt.

72

PX prices in Asia marched higher on June 12. Constrained product avails in the region
encouragedsellersofPXtohiketheirprices.Thepricerisewastriggeredbyaclimbinupstream
Isomer MX and downstream PTA values. FOB Korea prices of PX were assessed up at the USD
1275/mtlevels,adayondayriseofUSD15/mt.CFRTaiwanpriceswereassessedhigheratthe
USD 1295/mt levels. Firmer PX values in the US further supported the price rise. FOB Korea
prices of Isomer MX were assessed up at the USD 1075/mt levels, a day on day rise of USD
5/mt. CFR Taiwan prices were assessed higher at the USD 1100/mt levels. In plant news,
Idemitsu Kosan is likely to shut its aromatics plant, located in Chiba, Japan, in July 2013 for a
long maintenance turnaround. The No.1 aromatics plant has a PX production capacity of
270,000 mt/year, benzene capacity of 575,000 mt/year and isomer MX production capacity of
353,000mt/year.Theplantisexpectedtoremainshutforaround2months.
Orthoxylene (OX) prices in Asia climbed during week 2, rising in tandem with a sharp rise in
upstreamisomerMXvaluesandgainsrecordedindownstreamPAvalues.FOBKoreapricesof
OXwereassessedattheUSD1175/mtlevelswhileCFRSouthEastAsiapriceswereassessedat
the USD 1140/mt levels, both up USD 15/mt from the previous week. CFR China prices were
assessedhigherattheUSD1200/mtlevels,againofUSD15/mtfromlastweek.InChina,prices
of OX were at the Yuan 8600/mt levels. PX prices in Asia also surged. Prices climbed sharply
mainly on account of short covering action witnessed in the region. Supporting the price gain
was bullish upstream energy values. On June 13, prices of PX were assessed up at the USD
1315/mt FOB Korea levels, a steep gain of USD 55/mt from last week. CFR China prices of PX
wereassessedhigherattheUSD1335/mtlevelswhileCFRSouthEastAsiapricesofPXwereat
the USD 1335/mt levels, both up USD 55/mt from the previous week. Meanwhile, solvent MX
prices in Asia were assessed mixed. FOB Korea prices of solvent MX were assessed up at the
USD1050/mtlevels,ariseofUSD5/mtfromlastweek.CFRChinapriceswereassessedhigher
at the USD 1085/mt levels, a gain of USD 5/mt on the week. The price rise was attributed to
firmer isomer MX values. CFR South East Asia prices wereassessed down at the USD 1080/mt
levels, a fall of USD 10/mt from the previous week. Reports of sluggish buying trends pushed
priceslowerintheregion.Inplantnews,LGChemicalislikelytoshutitsaromaticsplantlocated
atYeosu,SouthKorea,inOctober2014foramaintenanceturnaround.Theplantisexpectedto
remainshutforaround3540daysandtheplanthassolventMXproductioncapacityof55,000
mt/year,benzenecapacityof240,000mt/yearandtoluenecapacityof100,000mt/year.Isomer
MX prices leapt higher in Asia. FOB Korea prices of isomer MX were assessed up at the USD
1120/mt levels, a steep gain of USD 50/mt from the previous week. CFR Taiwan price were
assessedhigherattheUSD1140/mtlevels,aweekonweeksharpriseofUSD50/mt.CFRSouth
EastAsiapriceswereassessedupattheUSD1150/mtlevels,upUSD55/mtfromlastweek.
Isomer MX prices in Asia climbed on June 16. Gains were prompted by firmer downstream PX
rates coupled with a lift in buying interest in the region. FOB Korea prices of Isomer MX were

73

assessedupattheUSD1130/mtlevels,ariseofUSD10/mtfromJune13assessedlevels.CFR
TaiwanpriceswereassessedhigherattheUSD1155/mtlevels.
IsomerMXpricesfinishedlowerinAsiaonJune17.Thepricefallwastriggeredbyshortselling
activitywitnessedintheregion.FOBKoreapricesofIsomerMXwereassesseddownattheUSD
1120/mtlevels,afallofUSD10/mtontheday.CFRTaiwanpricesofIsomerMXwereassessed
lower at the USD 1145/mt levels. Downstream PX prices were assessed steady at the USD
1315/mtFOBKorealevels.
Orthoxylene(OX)pricesinAsiajourneyednorthduringweek3.Thepricerisewastriggeredby
higher upstream isomer MX rates. FOB Korea prices of OX were assessed at the USD 1195/mt
levels,againofUSD20/mtfromthepreviousweek.CFRSouthEastAsiapriceswereassessed
at the USD 1180/mt levels, a sharp rise of USD 40/mt from last week. CFR China prices were
India prices of OX were at the USD 1200/mt levels, a steep increase of USD 50/mt from last
week.PXpricesinAsiaalsobolsteredhigher.Pricesclimbedsharplyonthebackofhecticshort
covering activity witnessed in the region. Supporting the price climb was firmer upstream
energyvalues.OnJune20,pricesofPXwereassessedupattheUSD1360/mtFOBKorealevels,
asteepgainofUSD45/mtfromlastweek.CFRChinapricesofPXwereassessedhigheratthe
USD 1380/mt levels while CFR South East Asia prices of PX were at the USD 1380/mt levels,
both up USD 45/mt from the previous week. In plant news, SK Innovation has delayed the
startupofanewaromaticsplanttomidJuly2014.PricesofSolventMXalsogainedinAsia.FOB
Korea prices of solvent MX were assessed up at the USD 1065/mt levels, a rise of USD 15/mt
fromlastweek.CFRChinapriceswereassessedhigherattheUSD1110/mtlevels,againofUSD
15/mt from the previous week. CFR South East Asia prices were assessed down at the USD
1095/mtlevels,anincreaseofUSD15/mtfromlastweek.Inplantnews,LGChemicalislikelyto
shut its aromatics plant located at Yeosu, South Korea, in October 2014 for a maintenance
turnaround. The plant is expected to remain shut for around 3540 days and the plant has
solvent MX production capacity of 55,000 mt/year, benzene capacity of 240,000 mt/year and
toluenecapacityof100,000mt/year.IsomerMXpricesinAsiaalsomarchedhigher.FOBKorea
prices of isomer MX were assessed up at the USD 1150/mt levels, a sharp gain of USD 30/mt
from the previous week. CFR Taiwan price were assessed higher at the USD 1170/mt levels, a
sharpriseofUSD30/mtfromlastweek.CFRSouthEastAsiapriceswereassessedupattheUSD
1175/mt levels, up USD25/mt from the previous week. In plant news, Idemitsu Kosan is likely
to shut its aromatics plant, located in Chiba, Japan, in July 2013 for a long maintenance
turnaround. The No.1 aromatics plant has a PX production capacity of 270,000 mt/year,
benzene capacity of 575,000 mt/year and isomer MX production capacity of 353,000 mt/year.
Theplantisexpectedtoremainshutforaround2months.

74

Spot PX prices in Asia finished higher on June 24. Supporting the rise in PX prices were tight
productavailsandstrongbuyingtrendswitnessedinkeymarketslikeChina.FOBKoreaprices
ofPXwereassessedupattheUSD1390/mtlevels,adayondayriseofUSD15/mt.CFRChina
priceswereassessedhigherattheUSD1410/mtlevels.Inthecontractmarkets,JXNipponOil
and Energy has announced its PX price nomination at the USD 1440/mt CFR Asia mark. This
pricerepresentsasteepriseofUSD180/mtfromitsJunenominationlevels.FeedstockIsomer
MXpriceswereassessedstableattheUSD1190/mtFOBKorealevels.
PXpricesinAsiasurgedonJune25.Pricesclimbedsharplymainlyonaccountofshortcovering
actionwitnessedintheregion.Supportingthepricegainwasconstrainedproductavailsanda
gain in feedstock isomer MX values. Prices of PX were assessed up at the USD 1425/mt FOB
Korea levels, a steep gain of USD 35/mt on the day. CFR Taiwan prices of PX were assessed
higher at the USD 1445/mt levels, a day on day sharp rise of USD 35/mt. FOB Korea prices of
Isomer MX were assessed up at the USD 1210/mt levels, a day on day rise of USD 20/mt. CFR
Taiwan prices were assessed higher at the USD 1235/mt levels, a sharp gain of USD 25/mt on
the day. In plant news, Samsung Total is likely to start commercial output at its new No. 2
aromatics plant. The operations are planned to be started in midJuly 2014. Presently, the
companyisundertakinganinternalsafetyauditattheplant.LocatedatDaesan,theplanthasa
paraxylenecapacityof1millionmt/yearandbenzenecapacityof420,000mt/year.Inanother
plant news, SK Innovation has delayed the startup of a new aromatics plant to midJuly 2014.
The plant was initially scheduled to start in the first week of July 2014. It is being speculated
that the delayed startup is a result of prevailing weak PX margins. Located at Incheon, South
Korea, the plant has a paraxylene capacity of 1.3 million mt/year and benzene capacity of
450,000mt/year.
OnJune26,PXpricesinAsiafirmed.Thepricespikewastriggeredbyacombinationofbullish
triggersincludingrobustregionalbuyingtrends,tightregionalproductavails,gainsinupstream
IsomerMXvaluesandfirmerdownstreamPTArates.PricesofPXwereassessedupattheUSD
1440/mt FOB Korea levels, a day on day rise of USD 15/mt. CFR Taiwan prices of PX were
assessedhigherattheUSD1460/mtlevels.FOBKoreapricesofIsomerMXwereassessedupat
the USD 1230/mt levels, a day on day rise of USD 20/mt. CFR Taiwan prices were assessed
higher at the USD 1250/mt levels. In plant news, Jurong Aromatics Corp is in plans to start a
newaromaticsplant.TheplantisplannedtobestartedinAugust2014.Itwasearlierscheduled
foraH2Julystartup.Thereasonbehindthedelayinstartupcouldnotbeascertained.Located
inJurongIsland,Singapore,theplanthasaPXproductioncapacityof800,000mt/year,benzene
productioncapacityof400,000mt/yearandOXproductioncapacityof200,000mt/year.
Orthoxylene(OX)pricesinAsialeapthigherduringweek4.Gainscameonthebackofarisein
downstream PA prices and reports of bullish regional buying trends. FOB Korea prices of OX
were assessed up at the USD 1245/mt levels, a steep gain of USD 50/mt from the previous

75

week.CFRSouthEastAsiapriceswereassessedhigherattheUSD1230/mtlevels,asharprise
ofUSD50/mtfromlastweek.CFRChinapriceswereassessedhigherattheUSD1270/mtlevels,
ariseofUSD50/mtfromthepreviousweek.CFRIndiapricesofOXwereattheUSD1240/mt
levels,asharpgainofUSD40/mtontheweek.PXpricesalsogallopedhigherinAsia.Theprice
rise was attributed to hectic short covering activity witnessed in the region. Price gains were
further supported by a sharp rise in upstream Isomer MX values and downstream PTA prices.
On June 27, prices of PX were assessed up at the USD 1460/mt FOB Korea levels, a steep
increaseofUSD100/mtfromthepreviousweek.CFRChinapricesofPXwereassessedhigherat
theUSD1480/mtlevelswhileCFRSouthEastAsiapricesofPXwereattheUSD1480/mtlevels,
bothupUSD100/mtfromthepreviousweek.FOBKoreapricesofsolventMXwereassessedup
at the USD 1115/mt levels, a steep gain of USD 50/mt from last week. CFR China prices were
assessedhigherattheUSD1150/mtlevels.CFRSouthEastAsiapriceswereassessedupatthe
USD1145/mtlevels,asharpincreaseofUSD50/mtfromthepreviousweek.IsomerMXprices
also race higher in Asia. On June 27, although prices declined on the day, isomer MX was
assessed at the USD 1220/mt levels, a sharp gain of USD 70/mt from the previous week. CFR
TaiwanpricewereassessedhigherattheUSD1240/mtlevels,asharpriseofUSD70/mtfrom
last week. CFR South East Asia prices were assessed up at the USD 1245/mt levels, up USD
70/mtfromthepreviousweek.
Paraxylene(PX)pricesinAsiaedgedhigheronJune30.Thepricegainwasattributedtostrong
buying trends witnessed in the region. The price rise was further supported by a rise in
downstreamPTArates.FOBKoreapricesofPXwereassessedupattheUSD1465/mtlevels,a
riseofUSD5/mtfromJune27assessedrates.CFRTaiwanpriceswereassessedupattheUSD
1485/mtlevels.Inthecontractmarkets,SOilhasnominateditsPXcontractpriceforJulyatthe
USD 1460/mt CFR Asia levels. This price represents a steep rise of USD 160/mt from June
nomination levels. In China, Sinopec has nominated its July PX contract price at the Yuan
10600/mtlevels,asharpriseofYuan750/mtfromitsJunesettlementlevels.

76

B3AromaticsAverageweeklyXylenePrices
forMay2014(USD/Tonne)
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
OrthoXylene
FOBKorea 1216 1182 1165 1163 1182 1183 1227 1215
CFRSEA 1201 1153 1130 1128 1153 1159 1211 1217
ParaXylene
FOBKorea 1431 1330 1281 1246 1322 1193 1188 1181
CFRSEA 1451 1350 1301 1266 1342 1216 1210 1204
SolventMixed
FOBKorea 1086 1055 1047 1028 1054 1010 1027 1003
CFRSEA 1119 1085 1087 1070 1090 1050 1065 1060
IsomerMixed
FOBKorea 1211 1132 1088 1057 1122 1035 1041 1043
CFRSEA 1234 1157 1113 1083 1147 1060 1067 1065
B3 Xylene Price Chart & Graphical Trend

77

PriceMovementofXyleneduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
OrthoXylene
FOBKorea 1245 1160 1245 1165

CFRSEA 1230 1125 1245 1130
ParaXylene
FOBKorea 1465 1225 1465 1125

CFRSEA 1485 1245 1485 1145
SolventMixed
FOBKorea 1115 1020 1115 980

CFRSEA 1150 1060 1150 1035
IsomerMixed
FOBKorea 1230 1040 1230 1005

CFRSEA 1250 1065 1250 1025
B3 Xylene Price Movement

78

PlantUpdateofXyleneforJune2014
Xylene
Hyundai
Cosmo
Petrochem
Daesan,
SouthKorea
No.
Aromatics
Plant
1Jun14
Theplantwas
shutowingto
negativePX
margins
PX 800,000mt/y
Benzene 120,000mt/y
Formosa
Chemicalsand
FibreCorp
(FCFC)
Mailiao,
Taiwan
No.3PX
plant
685,000
mt/yr
MidSept
2014 Maintenance
Turnaround
(45Days)
Qingdao
Lidong
Qingdao,
China
PX
800,000
mt/yr
H2July
2014
Theplantis
plannedtobe
restartedinH2
July,2014.Itis
presentlyshutfor
maintenance
turnaround.
Benzene
300,000
mt/yr
Toluene
150,000
mt/yr
SamsungTotal
Daesan,
SouthKorea
PX
1million
mt/yr MidJuly
2014
Planstostartupa
newaromatics
plant Benzene
420,000
mt/yr
Jurong
Aromatics
Corp(JAC)
JurongIsland,
Singapore
PX
800,000
mt/year
H2July,
2014
Planstostarta
newaromatics
plant.
OX
200,000
mt/year
Benzene
400,000
mt/year
B3 Xylene Plant Update

79

Methanol prices inched lower in China during week 1. On June 6, methanol prices were
assessed at the USD 335/mt CFR China levels, a fall of USD 5/mt from the previous week.
Reports of sufficient product availability in the region supported the price fall. CFR South East
Asia prices were flat from last week at the USD 390/mt levels while CFR Korea prices of
methanol were assessed unchanged at the USD 375/mt levels. CFR India prices were assessed
attheUSD300/mtlevels.OfferswereheardattheUSD295/mtlevels.Plentifulproductavails
was reported in the region. In the domestic markets of China, methanol prices were assessed
downattheYuan2530/mtlevels.Inthecontractmarkets,MethanexhasslasheditsMethanol
contractpriceforJunebyUSD30/mttotheUSD430/mtCFRAsialevels.
Methanol prices edged lower in China during week 2. On June 13, methanol prices were
assessedattheUSD330/mtCFRChinalevels,aweekonweekfallofUSD5/mt.Pricefellonthe
backofampleproductavailabilityintheregion.CFRSouthEastAsiapricesweresteadyatthe
USD390/mtlevelswhileCFRKoreapricesofmethanolwereassessedattheUSD375/mtlevels.
CFR India prices were assessed at the USD 300/mt levels. Demand trends were reported as
beingweakintheregion.InthedomesticmarketsofChina,methanolpriceswereassessedat
theYuan2615/mtlevels.Inthecontractmarkets,MethanexhasslasheditsMethanolcontract
priceforJunebyUSD30/mttotheUSD430/mtCFRAsialevels.
MethanolpricesdeclinedinAsiaduringweek3.OnJune20,CFRKoreapricesofmethanolwere
assesseddownattheUSD370/mtlevels,afallofUSD5/mtfromlastweek.CFRSouthEastAsia
prices were assessed lower at the USD 385/mt levels. Prices declined mainly on account of
plentiful product availability in the region. CFR China prices were assessed at the USD 330/mt
CFR China levels. CFR India prices were assessed at the USD 300305/mt levels. Buying trends
were reported as dull in the region. In the domestic markets of China, methanol prices were
assesseddownattheYuan2610/mtlevels.
Methanol prices were assessed mixed in Asia during week 4. On June 27, CFR Korea prices of
methanol were assessed steady from last week at the USD 370/mt levels. Buying trends were
reported as dull in the region. CFR South East Asia prices were assessed down at the USD
380/mtlevels,afallofUSD5/mtfromthepreviousweek.Thepricefallwasattributedtoweak
buyingandsufficientproductavailsintheregion.CFRChinapriceswereassessedupattheUSD
335/mt CFR China levels, a gain of USD 5/mt from last week. CFR India prices were assessed
lowerattheUSD300/mtlevels.Thepricefallwasonthebackofampleproductavailabilityin
theregion.InthedomesticmarketsofChina,methanolpriceswereassessedhigherattheYuan
2660/mt levels. Reports of improved buying interest supported the price rise in the region. In
plant news, Kaltim Methanol Industri is in plans to shut its 500,000 mt/year methanol plant,
B4 Methanol Summary

80

locatedinBontang,Indonesia,inOctober2014formaintenanceturnaround.Theplantislikely
toremainshutforaroundonmonth.
B4AromaticsAverageweeklyMethanolPrices
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Methanol
CFRIndia 303 302 300 300 301 309 313 424
CFRChina 332 330 331 338 333 355 351 385
CFRKorea 370 373 375 375 373 386 393 434
CFRSEA 384 388 390 390 388 397 411 496
B4 Methanol Price Chart & Graphical Trend

81

PriceMovementofMethanolduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Methanol
CFRIndia 305 300 480 300

CFRChina 340 330 470 330
CFRKorea 375 370 490 370
CFRSEA 390 380 560 380
B4 Methanol Price Movement

82

PlantUpdateofMethanolforJune2014
Methanol
Kharg
Petrochemical
KhargIsland,
Iran Methanol
1.4million
mt/yr
2016
Planstostartupa
newmethanol
plant (No.2Plant)
Fanavaran
Petrochemical
BandarImam
Khomeini,
Iran
Methanol
1million
mt/yr
Theproduction
capacityis
plannedtobe
raisedto3million
mt/year
FatehSanat
Kimia
Dayar,Iran Methanol
1.65million
mt/yr
2014
Planstostartupa
newmethanol
plant
NingxiaJeimei
Fengyou
Ningxia,
China
Methanol
200,000
mt/yr
EarlyJune
2014
Startedanew
methanolplant
Metafrax
Gubakha,
Russia
Methanol
1million
mt/yr
Aug14
Maintenance
turnaround
YanzhouCoal
Mining
Shaanxi,
China
Methanol
600,000
mt/yr
23Jun14
Maintenance
turnaround (1Month)
Brunei
MethanolCo
SungaiLiang,
Brunei
Methanol
850,000
mt/yr
16Jun14
Restarted.Itwas
underashutdown
owingtotechnical
issues.
Kaltim
Methanol
Industri
Bontang,
Indonesia
Methanol
500,000
mt/yr
Oct14
Maintenance
turnaround (1Month)
B4 Methanol Plant Update

83

Butadiene prices leapt higher in Asia during week 1. The spike in prices came on the back of
tight regional availability which allowed sellers to hike their rates up sharply. Supporting the
sharppricerisewasimproveddemandsentimentsintheregion.FOBKoreapricesofbutadiene
were assessed up at the USD 1290/mt levels, a gain of USD 20/mt from last week. CFR China
prices of butadiene were assessed up at the USD 1270/mt levels, a week on week rise of USD
30/mt. CFR South East Asia prices of butadiene were assessed higher at the USD 1250/mt
levels, a steep rise of USD 40/mt from the previous week. In China, Sinopec has increased its
butadienepricesinEastChinabyYuan200/mttotheYuan9000/mtlevels.Inplantnews,JSRis
likely to restarts its 120,000 mt/year butadiene plant, located in Kashima, Japan, in early July
2014.TheplantwasshutforamaintenanceturnaroundinearlyMay2014.
ReportsoflimitedregionalproductavailspushedbutadienepricessharplyhigherinAsiaduring
week 2. FOB Korea prices of butadiene were assessed up at the USD 1340/mt levels, a sharp
gainofUSD50/mtfromlastweek.CFRChinapricesofbutadienewereassessedupattheUSD
1320/mtlevels,asteepriseofUSD50/mtontheweek.CFRSouthEastAsiapricesofbutadiene
were assessed higher at the USD 1300/mt levels, a steep rise of USD 50/mt from the previous
week.InChina,SinopechasincreaseditsbutadienepricesbyYuan300/mttotheYuan9300/mt
levels. In plant news, JSR is likely to restarts its 120,000 mt/year butadiene plant, located in
Kashima, Japan, in early July 2014. The plant was shut for a maintenance turnaround in early
May 2014. In another plant news, Sinopec Zhenhai is in plans to restart its 180,000 mt/year
butadieneplant,locatedinZhenhai,China,towardsendJune2014.Theplantwasshutinmid
May2014foramaintenanceturnaround.
Butadiene prices marched higher in Asia during week 3. Prices firmed as availability in the
regioncontinuedtoremainconstrained.FOBKoreapricesofbutadienewereassessedupatthe
USD 1370/mt levels, a sharp gain of USD 30/mt from the previous week. CFR China prices of
butadiene were assessed up at the USD 1330/mt levels, a rise of USD 10/mt from last week.
CFR South East Asia prices of butadiene were assessed higher at the USD 1320/mt levels, a
week on week gain of USD 20/mt. In plant news, JSR is likely to restarts its 120,000 mt/year
butadiene plant, located in Kashima, Japan, in early July 2014. The plant was shut for a
maintenanceturnaroundinearlyMay2014.Inanotherplantnews,SinopecZhenhaiisinplans
to restart its 180,000 mt/year butadiene plant, located in Zhenhai, China, towards endJune
2014.TheplantwasshutinmidMay2014foramaintenanceturnaround.
C. Olefins
C1 Butadiene Summary

84

ButadienepricesclimbedinAsiaduringweek4.Pricesfirmedonthebackofreportsofstrong
regionalbuyinginterestontheonehandandtightproductavailabilityontheother.Strengthin
upstreamcostssupportedthepricerise.FOBKoreapricesofbutadienewereassessedupatthe
USD 1395/mt levels, a week on week rise of USD 25/mt from last week. CFR China prices of
butadiene were assessed higher at the USD 1360/mt levels, a gain of USD 30/mt from the
previous week. CFR South East Asia prices of butadiene were assessed higher at the USD
1350/mt levels, a gain of USD 30/mt from last week. In China, Sinopec has increased its
butadienepricesbyYuan300/mttoYuan9600/mtlevels.
C1OlefinsAverageweeklyButadienePricesfor
June2014(USD/Tonne)
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Butadiene
South
Korea
1388 1355 1320 1278 1335 1308 1367 1335
China 1351 1323 1297 1262 1308 1239 1268 1285
SEAsia 1333 1307 1267 1223 1283 1204 1217 1274
C1 Butadiene Price Chart & Graphical Trend

85

PriceMovementofButadieneduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Butadiene
South
Korea
1395 1270 1450 1260
China 1360 1240 1450 1190

SEAsia 1350 1210 1405 1150
C1 Butadiene Price Movement

86

PlantUpdateofButadieneforJune2014
Butadiene
Shandong
Wanda
Shanghai,
China
Butadiene 150,000mt/yr Jul14
Planstostartupa
newbutadieneplant
Shanghai
Secco
Shanghai,
China
Butadiene 90,000mt/yr Jul14
Planstostartupa
newbutadieneplant
CPCCorp
Kaohsiung,
Taiwan
Crude
refinery
Cracker
Butadiene
200,000bpd
500,000mt/yr
80,000mt/yr
Dec15
Planstocloseits
refineryand
petrochemical
complex
permanently.The
closureispartofa
government
directivewhich
statesthatoldand
uneconomicunits
needtobeclosed
Taiwan
Styrene
RubberCorp
(TSRC)
Kaohsiung,
Taiwan
Butadiene
rubber(BR)
55,000
mt/year
Sep14
Maintenance
Turnaround
(1Month)
Butadiene Chiba,Japan
Butadiene
(UnitNo.1)
90,000
mt/year
Thebutadieneunitisexpectedto
restartafewdaysaftertherestart
oftheethylenecrackerwhichis
likelytoresumeproductionon
June26,2014.
Thai
Synthetic
RubbersCo
Rayong,
Thailand
Butadiene
rubber
72,000
mt/year
Endof3rd
Weekof
June
Theplantrestarted
lastweekend.Itwas
shutfora
maintenance
turnaround.
C1 Butadiene Plant Update

87

PricesofethyleneinpartsofAsiawerepressuredloweronJune4.CFRSouthEastAsiapricesof
ethylenewereassesseddownattheUSD1450/mtlevels,adayondayfallofUSD5/mt.Prices
fellonthebackofsluggishbuyinginterestintheregioncoupledwithafallinupstreamenergy
values. Buying interest however failed to lift despite the price drop. Buyers of ethylene were
reluctant to even bid for cargo owing to the bearish cues from the downstream markets,
especially PE. CFR North East Asia prices were steady at the USD 1445/mt levels. Offers were
heardattheUSD1460/mtCFRChinalevels.
EthylenepricesdroppedinpartsofAsiaduringweek1.CFRSouthEastAsiapricesofethylene
wereassesseddownattheUSD1440/mtlevels,adropofUSD15/mtfromthepreviousweek.
Pricesfellonthebackofimprovedproductavailsintheregion.CFRNorthEastAsiapriceswere
assessed steady at the USD 1445/mt levels. Offers for June were heard at the USD 1470
1490/mtCFRChinalevelswhilebidswerepeggedatthe14101430/mtCFRChinalevels.Buyers
andsellersofethyleneremainedapartwithregardstotheiridealpricingtargetsintheregion.
FOB Korea prices were assessed flat at the USD 1375/mt levels. In plant news, Ethylene
Malaysia is reported to have resumed production at its cracker, located at Kertih, Malaysia,
recently following a two months of maintenance turnaround. The cracker has an ethylene
production capacity of 400,000 mt/year. In another plant news, JG Summit is likely to
commence operations soon at its new naphtha steam cracker, located in Batangas City,
Philippines. The new cracker has an ethylene production capacity of 320,000 mt/year and
propylenecapacityof190,000mt/year.
Despitehigherupstreamcrudevalues,ethylenepricesdeclinedinAsiaonJune9.Thepricefall
wassupportedbydullbuyinginterestintheregion.CFRNorthEastAsiapricesofethylenewere
assesseddownattheUSD1440/mtlevels,afallofUSD5/mtfromJune6assessedlevels.CFR
SouthEastAsiapriceswereassessedlowerattheUSD1430/mtlevels,adropofUSD10/mt.
Ethylene prices declined in Asia during week 2. Weak downstream PE demand trends, ample
availability and subdued buying interest together pulled prices of ethylene down. FOB Korea
prices wereassessed down at the USD 1370/mt levels, a fall of USD 5/mt from last week. CFR
SouthEastAsiapricesofethylenewereassessedlowerattheUSD1415/mtlevels,asharpdrop
of USD 25/mt from the previous week. Offerswere heardat the USD1430/mt CFR South East
Asialevels.CFRNorthEastAsiapriceswereassesseddownattheUSD1435/mtlevels,afallof
USD 10/mt from last week. Offers for July were heard at the USD 14701490/mt CFR China
levels while bids were pegged at the 14101430/mt CFR China levels. In plant news, Borouge
has commenced the startup process at its 1.5 mmt/year Borouge 3 cracker in Ruwais, UAE.
Once the cracker startsproduction, the companys ethylene capacity isexpected to expand to
3.6millionmt/year.Constructionofthiscrackerwascommencedin2010.
C2 Ethylene Summary

88

EthylenepricesfinishedhigherinAsiaduringweek3.FOBKoreapriceswereassessedupatthe
USD 1385/mt levels, a gain of USD 15/mt from last week. CFR North East Asia prices were
assessedhigherattheUSD1450/mtlevels,ariseofUSD15/mtfromthepreviousweek.Prices
climbedasproductavailabilitywastightintheregionduetoplantturnarounds.CFRSouthEast
Asia prices of ethylene were assessed lower at the USD 1410/mt levels, a drop of USD 5/mt
from the previous week. Offers were heard at the USD 1430/mt CFR South East Asia levels.
Reports of sufficient product avails pushed prices lower in the region. In plant news, Mitsui
Chemicals has shut its 450,000 mt/year cracker, located in Osaka, Japan, on June 19, 2014 for
maintenanceturnaround.Thecrackerislikelytoremainshutforaroundonemonth.
EthylenepricesclimbedinpartsofAsiaonJune25.CFRNorthEastAsiapricesofethylenewere
assessedupattheUSD1455/mtlevels,adayondayriseofUSD5/mt.Reportsoftightproduct
avails in the region supported the price rise. CFR South East Asia prices of ethylene were
assessedflatattheUSD1410/mtlevels.Buyingtrendswerereportedasweakintheregion.
Ethylene prices in Asia firmed during week 4. The sharp price rise was triggered by limited
regional product availability. Supporting the price rise were firmer upstream naphtha values.
FOB Korea prices of ethylene were at the USD 1410/mt levels, a rise of USD 25/mt from last
week.CFRNorthEastAsiapriceswereassessedhigherattheUSD1475/mtlevels,againofUSD
25/mtfromthepreviousweek.CFRSouthEastAsiapricesofethylenewereassessedupatthe
USD 1450/mt levels, a sharp increase of USD 40/mt from last week. In downstream plants,
LotteChemicalTitanhasshutits450,000mt/yearLLDPEplant,locatedinMerak,Indonesia,on
June 25, 2014 owing to technical issues. The plant is likely to remain shut for around 1520
days.
C2OlefinsAverageWeeklyEthylenePricesforJune2014(USD/Tonne)
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Ethylene
South
Korea
1396 1375 1373 1375 1380 1377 1375 1418
Japan 1391 1370 1368 1370 1375 1374 1373 1413
SEAsia 1427 1413 1423 1448 1428 1461 1455 1445
C2 Ethylene Price Chart & Graphical Trends

89

PriceMovementofEthyleneduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Ethylene
Japan 1405 1365 1440 1365

SouthKorea 1410 1370 1445 1370
SEAsia 1455 1410 1465 1410
C2 Ethylene Price Movement

90

PlantUpdateofEthyleneforJune2014
Ethylene
Chevron
Phillips
Chemical
OldOcean,
Texas,US
No.22
ethylene
unit
300,000
mt/yr
Early2nd
WeekofJune
Theplantwastaken
offstreamowingto
mechanicalfailure
YeochunNCC
(YNCC)
Yeosu,South
Korea
Ethylene
470,000
mt/yr
Oct14
Maintenance
turnaround (No.3
Cracker)
Propylene
240,000
mt/yr
(1Month)
Sinopec
Zhenhai
Refining&
Chemical
Zhejiang,
China
Ethylene
1million
mt/yr
18Jun14
Therestartofthe
crackerhasbeen
postponedto1st
weekofJuly.The
plantwasinitially
scheduledto
restartonJune18,
2014.
Propylene
550,000
mt/yr
Butadiene
180,000
mt/yr
Idemitsu
Kosan
Tokuyama,
Japan
Ethylene
623,000
mt/year
10Sep14 Maintenance
Turnaround (1Month)
KeiyoEthylene Chiba,Japan
Ethylene
700,000
mt/year
26Jun14
Theplantislikelyto
berestarted.Itwas
shutonMay11,
2014fora
maintenance
turnaround.
Propylene
400,000
mt/year
C2 Ethylene Plant Update

91

WeakdownstreamPPdemandtrendspushedpropylenepriceslowerinAsiaduringweek1.On
June 6, although pricesedged higher on the day, propylenewas assessed at the USD 1355/mt
FOB Korea levels, a fall of USD 5/mt from last week. CFR China prices were assessed lower at
the USD 1420/mt levels, a drop of USD 10/mt from the previous week. CFR South East Asia
prices of propylene were assessed down at the USD 1260/mt levels, a sharp decline of USD
30/mt from last week. Reports of plentiful product availability in the region further supported
thesharppricefallintheregion.
Propylene prices edged lower in parts of Asia on May 9. FOB Korea prices of propylene were
assessed down at the USD 1350/mt levels, a drop of USD 5/mt from April 6 assessed levels.
Weak buying sentiments coupled with a decline in downstream PP values supported the price
fall.CFRChinapricesofpropylenewereassessedstableattheUSD1420/mtlevels.
Prices of propylene climbed in Asia during week 2. Higher energy costs coupled with robust
regional buying trends supported sellers who were seeking to steer their spot prices higher.
Alsocontributingtowardthepricegainsinpropyleneweretightproductavailabilityandhigher
downstream product demand sentiments in the region. On June 13, propylene prices were
assessed up at the USD 1360/mt FOB Korea levels, a gain of USD 5/mt from last week. CFR
China prices were assessed higher at the USD 1425/mt levels, a rise of USD 5/mt from the
previousweek.CFRSouthEastAsiapricesofpropylenewereassessedupattheUSD1310/mt
levels, a sharp increase of USD 50/mt from last week. In plant news, IRPC Public Company is
likely to keep its deep catalytic cracker shut for around one month. The unit was shut
unexpectedly on June 9, 2014 following a fire at its 215,000 bpd refinery in Rayong province,
Thailand.Thecatalyticcrackerhasapropyleneproductioncapacityof120,000mt/year.
PropylenepricesinchedhigherinpartsofAsiaonJune18.Pricesclimbedonthebackoffirmer
upstream energy rates coupled with improved buying trends in the region. Reports of stable
downstream PP demand trends further supported the price gain. CFR China prices were
assessed at the USD 1430/mt levels, up USD 5/mt on the day. FOB Korea prices of propylene
wereassessedsteadyattheUSD1365/mtlevels.
PricesofpropylenefinishedhigherinAsiaduringweek3.Thepricerisewasattributedtofirmer
upstreamcrudeandnaphthavalues.OnJune20,propylenepriceswereassessedupattheUSD
1365/mtFOBKorealevels,againofUSD5/mtfromthepreviousweek.CFRChinapriceswere
assessed higher at the USD 1435/mt levels, a rise of USD 10/mt from last week. Offers were
heard at the USD 1445/mt CFR China levels. CFR South East Asia prices of propylene were
C3 Propylene Summary

92

assessedflatattheUSD1310/mtlevels.Regionalbuyerswereseenadoptingacautiousbuying
approach.
PricesofpropyleneedgedupinAsiaonJune26.Thepricerisewasmainlyonaccountoffirmer
upstream naphtha rates and reports of tight product avails. Supporting the price increase was
improved downstream product demand trends in the region. FOB Korea prices of propylene
were assessed up at the USD 1375/mt FOB Korea levels, a day on day gain of USD 5/mt. CFR
ChinapriceswereassessedhigherattheUSD1445/mtlevels,ariseofUSD5/mtontheday.
PropylenepriceswereassessedmixedinAsiaduringweek4.OnJune27,propylenepriceswere
assessedupattheUSD1380/mtFOBKorealevels,ariseofUSD15/mtfromlastweek.Sellers
polledsaidthattheyhavesoldouttheirJulyvolumes.CFRChinapriceswereassessedhigherat
theUSD1455/mtlevels,againofUSD20/mtfromthepreviousweek.Offerswereheardatthe
USD 1470/mt CFR China levels. Bids were heard at the USD 1450/mt CFR China levels. Gains
cameonthebackofaliftindownstreamproductdemandtrendscoupledwithbullishupstream
naphtha values. CFR South East Asia prices of propylene were assessed lower at the USD
1300/mt levels, a drop of USD 10/mt from the previous week. Reports of sufficient product
avails and weak buying interest together supported the price fall in the region. In plant news,
TianjinBohaiChemicalIndustryGrouphasresumedproductionatitspropanedehydrogenation
(PDH)plant.TheplantwasshutforamaintenanceturnaroundinmidJune2014.ThePDHplant
hasapropylenecapacityof600,000mt/year.
Propylene prices inched up in parts of Asia on June 30. FOB Korea prices of propylene were
assessedhigherattheUSD1385/mt,ariseofUSD5/mtfromJune27assessedlevels.Theprice
risewasonthebackofbullishbuyingsentimentsandimproveddownstreamproductdemand
trends in the region. The price rise was supported by firmer upstream naphtha values. CFR
ChinapriceswereassessedsteadyattheUSD1455/mtlevels.

93

C3OlefinsAverageweeklyPropylenePricesforJune2014(USD/Tonne)
Grades W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Propylene
South
Korea
1375 1364 1354 1355 1362 1357 1348 1361
Japan 1364 1352 1347 1348 1353 1356 1342 1365
SEAsia 1306 1310 1277 1280 1293 1312 1327 1327
C3 Propylene Price Chart & Graphical Trend

94

PriceMovementofPropyleneduringMarch2014to
June2014(USD/Tonne)
Grades Market
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Propylene
Japan 1375 1345 1390 1315

South
Korea
1385 1350 1390 1305
SEAsia 1310 1260 1345 1260
PlantUpdateofPropyleneforJune2014
Propylene
MehrPetro
Kimia
Assalouyeh,
Iran
Propylene
450,000
mt/yr
2017
Planstostartupa
newPropane
dehydrogenation
(PDH)plant
PP
450,000
mt/yr
PetroLogistics
Houston,
Texas
Propylene
545,000
mt/yr
15Jun14
Restarteda
propane
dehydrogenation
(PDH)unit.Itwas
shutonJune9,
2014owingto
mechanicalissues
CPCCorp Dalin,Taiwan Propylene
450,000
mt/year
24Jun14
Theplantisshut
forrepairing
work.
C3 Propylene Price Movement
C3 Propylene Plant Update

95

Styrene Monomer (SM) prices in Asia edged lower on June 2. The price fall was mainly on
accountofbearishupstreambenzenevalues.CFRChinapriceswereassessedlowerattheUSD
1575/mt levels. FOB Korea prices of SM were assessed at the USD 1550/mt levels. In the
domesticmarketsofChina,SMpriceswereassessedattheYuan11365/mtextanklevels.
Styrene Monomer (SM) prices in Asia edged lower on June 3. The price fall was mainly on
accountofbearishbuyingsentimentsandampleproductavailsinkeymarketslikeChina.FOB
Korea prices of SM were assessed down at the USD 1545/mt levels, a fall of USD 5/mt on the
day.CFRChinapriceswereassessedlowerattheUSD1570/mtlevels.Inthedomesticmarkets
ofChina,SMpriceswereassesseddownattheYuan11275/mtextanklevels.
A drop in ethylene prices in Asia accompanied by softer buying interest in key markets like
Chinapushedpricesofstyrenemonomer(SM)inAsialower,onJune4.FOBKoreapricesofSM
were assessed at the USD 1540/mt levels, a day on day drop of USD 5/mt. CFR China prices
wereassessedlowerattheUSD1565/mtlevels,afallofUSD5/mtontheday.Inthedomestic
markets,SMpriceswereattheYuan11250/mtextankmark.Inplantnews,Denkaisinplansto
restart its 270,000 mt/year SM plant, located in Chiba, Japan, on July 1, 2014. The plant was
shutinlateMay2014formaintenanceturnaround.
SM prices gained in Asia on June 5. The price rise was a result of higher upstream benzene
values.FirmerSMratesinEuropeandtheUSfurthersupportedthepricerise.FOBKoreaprices
ofSMwereassessedupattheUSD1550/mtlevels,adayondayriseofUSD10/mt.CFRChina
priceswereassessedupattheUSD1575/mtlevels.InChina,domesticpricesofSMwerehigher
attheYuan11305/mtextanklevels.
SMpricesfinishedhigherinAsiaduringweek1.Thepricerisewastriggeredbyfirmerupstream
benzene values coupled with reports of continued force majeure on supplies of SMPO from
EllbaEasternplantinSingapore.OnJune6,pricesofSMwereassessedupattheUSD1565/mt
FOBKorealevels,againofUSD15/mtfromthepreviousweek.CFRChinapriceswereassessed
higherattheUSD1590/mtlevelswhileCFRSouthEastAsiapriceswereassessedupattheUSD
1595/mt levels. CFR India prices were higher at the USD 1595/mt levels, a rise of USD 15/mt
from last week. In the domestic markets, SM prices were up at the Yuan 11375/mt ex tank
D. Feedstock
D1 Styrene Monomer Summary

96

mark. In plant news, Ellba Eastern has not lifted a force majeure on supplies from its 550,000
mt/yearSMPOplantlocatedinSingapore.TheFMwasdeclaredonMay8,2014.
Despite a fall in upstream benzene and ethylene values, styrene monomer (SM) prices in Asia
edgedhigheronJune9.Thepricerisewasattributedtohigherupstreamenergyvalues.Firmer
SM rates in the US and Europe further supported the price rise. FOB Korea prices of SM were
assessed up at the USD 1570/mt levels, a gain of USD 5/mt from June 6 assessed levels. CFR
ChinapriceswereassessedhigherattheUSD1595/mtlevels.InthedomesticmarketsofChina,
SMpriceswereassessedupattheYuan11400/mtextanklevels.
Styrene Monomer (SM) prices in Asia firmed on June 10. Supporting the price rise were gains
recorded in upstream benzene values and improved buying interest in key markets like China.
FOB Korea prices of SM were assessed up at the USD 1580/mt levels, a gain of USD 10/mt on
the day. CFR China prices were assessed higher at the USD 1605/mt levels. In the domestic
marketsofChina,SMpriceswereassessedhigherattheYuan11450/mtextanklevels.
Despite higher upstream benzene values, styrene monomer (SM) prices drifted lower on June
12. The price fall was on the back of ample product avails in key markets like China. Weaker
ethylene values supported the price fall. FOB Korea prices of SM were assessed down at the
USD1565/mt,afallofUSD15/mtontheday.CFRChinapriceswereassessedlowerattheUSD
1595/mt levels. In the domestic China markets, SM prices were assessed down at the Yuan
Styrenemonomer(SM)pricesdriftedloweronJune17.Thepricedropwasmainlyonaccount
ofstrongsellingactionwitnessedintheregion.Weakerethylenevaluesfurthersupportedthe
pricefall.FOBKoreapricesofSMwereassesseddownattheUSD15600/mt,adayondayfall
ofUSD15/mt.CFRChinapriceswereassessedlowerattheUSD1585/mtlevels.Inthedomestic
Chinamarkets,SMpriceswereassesseddownattheYuan11300/mtextanklevels.
SM prices climbed in Asia on June 19. Prices gained mainly on account of a rise in upstream
energyandbenzenerates.FOBKoreapricesofSMwereassessedupattheUSD1565/mtlevels,
ariseofUSD5/mtontheday.CFRChinapriceswereassessedupattheUSD1590/mtlevels.In
China, domestic prices of SM were at the Yuan 11350/mt ex tank levels. The price rise was
furthersupportedbyhigherSMvaluesintheUS.
Despiteasharpgaininupstreamenergyandbenzenevalues,SMpricesdeclinedinAsiaduring
week3.Thepricefallwasmainlyonaccountofweakerdownstreamdemandtrendsandample
productavailsintheregion. OnJune20,pricesofSMwereassessedattheUSD 1565/mtFOB
Korea levels, a fall of USD 10/mt from last week. CFR China prices were assessed down at the
USD1590/mtlevelswhileCFRSouthEastAsiapriceswereassessedattheUSD1610/mtlevels.

97

CFRIndiapriceswerelowerattheUSD1595/mtlevels,adropofUSD10/mtfromtheprevious
week.Inthedomesticmarkets,SMpricesweredownattheYuan11350/mtextankmark.
StyreneMonomer(SM)pricesfirmedinAsiaonJune23.Pricessurgedinlinewithfirmerglobal
energy rates and a spike in benzene feedstock rates. Bullish SM values in the US further
supportedthesharppricegaininEurope.FOBKoreapricesofSMwereassessedupattheUSD
1600/mt levels, a sharp climb of USD 35/mt from June 20 assessed levels. CFR China prices
werehigherattheUSD1625/mtlevels.InChina,domesticpricesofSMwerehigherattheYuan
11525/mtlevels.
PricesofSMinAsiadeclinedonJune24.Weakerupstreambenzenevaluessupportedtheprice
fall.FOBKoreapricesofSMwereassessedlowerattheUSD1590/mtlevels,adayondaydrop
ofUSD10/mt.CFRChinapriceswereassesseddownattheUSD1620/mtlevels.Inthedomestic
marketsofChina,SMpriceswereassessedattheYuan11525/mtextanklevels.
Styrenemonomer(SM)pricesinAsiaedgedhigheronJune25.Thepricegainwasontheback
of higher upstream benzene values. FOB Korea prices of SM were assessed up at the USD
1595/mt levels, a day on day rise of USD 5/mt. CFR China prices were assessed higher at the
USD 1625/mt levels. In the domestic markets of China, SM prices were assessed at the Yuan
Styrenemonomer(SM)pricesinAsiainchedhigheronJune26.Thepricerisewasontheback
offirmerupstreambenzeneandethylenevalues.FOBKoreapricesofSMwereassessedupat
theUSD1605/mtlevels,againofUSD10/mtontheday.CFRChinapriceswereassessedhigher
at the USD 1630/mt levels. In the domestic markets of China, SM prices were assessed at the
SMpricesbolsteredhigherinAsiaduringweek4.Pricegainscameonthebackofastrengthin
upstream benzene and ethylene rates. On June 27, prices of SM were assessed at the USD
1610/mtFOBKorealevels,asharpgainofUSD45/mtfromthepreviousweek.CFRChinaprices
wereassessedhigherattheUSD1640/mtlevels,asteepriseofUSD50/mtfromlastweek.CFR
South East Asia prices were assessed higher at the USD 1655/mt levels, up USD 45/mt. CFR
India prices were up at the USD 1640/mt levels, a sharp increase of USD 45/mt from the
previousweek.Inthedomesticmarkets,SMpriceswerehigherattheYuan11700/mtextank
mark.Inplantnews,IdemitsuSM(Malaysia)isinplanstorestartits240,000mt/yearSMplant,
locatedatPasirGudang,Malaysia,onJuly1,2014.TheplantwasshutonJune24,2014owing
totechnicalissues.

98

D1FeedstockStyreneMonomerPricesforJune2014(USD/Tonne)@CNFIndia
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
Styrene
Monomer
1620 1602 1598 1585 1601 1595 1626 1620
PriceMovementofStyreneMonomerduringMarch2014to
June2014(USD/Tonne)
Grade
Jun14
Last4months(Mar14
Jun14)
High Low High Low
Styrene
Monomer
1640 1580 1640 1580
D1 Styrene Monomer Price Movement

D1 Styrene Monomer Price Chart & Graphical Trend

99

PlantUpdateofStyreneMonomer(SM)forJune2014
StyreneMonomer
Shell
chemicals
Scotford,
Alberta,
Canada
SM
800million
lbs/yr
MidJune
2014
Maintenance
Turnaround
(1Month)
Shell
Moerdijk,the
Netherlands
SM
550,000
mt/yr
Early1st
weekofJune
Thecompanyreported
afireattheplantinthe
Netherlands,earlylast
week.Thefirewasa
resultofanexplosion
whichoccurredinthe
reactoroftheMSPO2
installation.Thefirehas
beenbroughtunder
control.Theplantwas
undermaintenance
whentheincidenttook
place.
PO
250,000
mt/yr
Idemitsu
Kosan
Tokuyama,
Japan
No.1SM
plant
120,000
mt/yr
Aug14
Maintenance
Turnaround No.2SM
plant
220,000
mt/yr
(EarlyOct
2014)
Zhenhai
Refining&
Chemical
Corp
(ZRCC)
Zhejiang,
China
Butadiene
165,000
mt/yr
EarlyJuly
2014
Theunitislikelytobe
restartedinearlyJuly
2014.Itisundera47
daymaintenance
turnaround.
SP
Chemicals
Jiangsu,China SM
320,000
mt/year
24Jun14
Theplantwasshut
owingtotechnical
issues
(10Days)
D1 Styrene Monomer Plant Update

100

EDCandVCMpricesdeclinedinAsiaduringweek1.Pricesfellonthebackofsluggishregional
buyingtrends.CFRFarEastAsiapricesofEDCwereassesseddownattheUSD440/mtlevels,a
fall of USD 10/mt from the previous week. Offers were heard at the USD 460480/mt CFR Far
EastAsialevels.CFRSouthEastAsiapriceswereassessedlowerattheUSD440/mtlevels,afall
ofUSD5/mtfromlastweek.BidswereheardattheUSD410420/mtCFRSouthEastAsialevels.
VCMpricesalsodroppedwithCFRFarEastAsiapriceswereassessedlowerattheUSD905/mt
levels, a fall of USD 5/mt from the previous week. CFR South East Asia prices were assessed
steadyattheUSD955/mtlevels.OffersfromtraderswereheardattheUSD950/mtandabove
CFRSouthEastAsialevels.
EDCpriceswereassessedsteadyinAsiaduringweek2.Demandtrendswerereportedasbeing
dullintheregion.CFRFarEastAsiapricesofEDCwereassessedflatfromlastweekattheUSD
440/mtlevels.OffersforJulywereheardattheUSD450/mtCFRFarEastAsialevels.Buyerbids
were heard at the USD 430/mt CFR Far East Asia levels. CFR South East Asia prices were
assessedstableattheUSD440/mtlevels.VCMpricesmeanwhileclimbedinpartsofAsia.CFR
Far East Asia prices were assessed unchanged at the USD 905/mt levels. Offers for July were
heard at above USD 930/mt CFR Far East Asia levels. CFR South East Asia prices of VCM were
assessed up at the USD 960/mt levels, a gain of USD 5/mt from the previous week. The price
risewasonthebackoflimitedproductavailabilityintheregion.
Despiteafallinfeedstockethylenevalues,EDCpriceswereassessedflatinAsiaduringweek3.
Buyingtrendswerereportedasdullintheregion.CFRFarEastAsiapricesofEDCwereassessed
flat at the USD 440/mt levels. Offers for July were heard at the USD 450/mt CFR China levels.
CFR South East Asia prices were assessed at the USD 440/mt levels. VCM prices meanwhile
inched higher in parts of Asia. CFR Far East Asia prices were assessed up at the USD 910/mt
levels,againofUSD5/mtfromlastweek.OffersforJulywereheardataboveUSD930/mtCFR
Chinalevels.BidswereheardattheUSD880900/mtCFRChinalevels.Thepricerisewasonthe
backofhigherdownstreamPVCrates.CFRSouthEastAsiapricesofVCMwereassessedsteady
attheUSD960/mtlevels.Inplantnews,TaiwanVCMislikelytoshutits380,000mt/yearVCM
plant, located at Kaohsiung, Taiwan, in H2 June 2014 for maintenance turnaround. It is
expectedtoremainshutforaround15days.
EDC prices inched lower in parts of Asia during week 4. CFR Far East Asia prices of EDC were
assessed steady at the USD 440/mt levels. Offers were heard at the USD 450/mt CFR Far East
Asia levels. CFR South East Asia prices were assessed lower at the USD 435/mt levels, a fall of
USD 5/mt from the previous week. Prices declined on reports of soft regional buying trends.
VCMpriceswerealsodroppedinAsia.CFRFarEastAsiapriceswereassesseddownattheUSD
D2 EDC/VCM Summary

101

905/mtlevels,adeclineofUSD5/mtfromlastweek.OfferswereheardatUSD920930/mtCFR
FarEastAsialevels.CFRSouthEastAsiapricesofVCMwereassessedlowerattheUSD940/mt
levels, a sharp drop of USD 20/mt from the previous week. Offers were heard at the USD
970/mt CFR South East Asia levels. Prices fell on the back of dull regional buying trends and a
declineindownstreamPVCrates.
D2FeedstockAverageWeeklyEDC/VCMPrices
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
FarEastAsiaCFR
EDC 440 440 440 445 441 470 488 497
VCM 907 908 905 908 907 885 883 935
SouthEastAsiaCFR
EDC 437 440 440 443 440 463 485 495
VCM 949 960 958 955 956 933 930 970

D2 EDC/VCM Price Chart & Graphical Trend

102

103

PriceMovementofEDC/VCMduringMarch2014to
June2014(USD/Tonne)
Grade
Jun14
Last4months(Mar14
Jun14)
High Low High Low
EDC
FEAsia 450 440 505 440
SEAsia 445 435 495 435
VCM
FEAsia 910 905 950 870
SEAsia 960 940 985 920
PlantUpdateofEDC/VCMforJune2014
EDC/VCM
Hanwha
Chemical
Yeosu,
SouthKorea
EDC
430,000
mt/yr
Early3rd
weekofJune
Restarted.Itwas
shutonMay15,
2014for
maintenance
turnaround.
D2 EDC/VCM Price Movement

D2 EDC/VCM Plant Update

104

Despite a fall in upstream PX rates, PTA prices in Asia edged up on June 3. Price gains were
prompted by a rise in fellow polyester feedstock MEG values. CFR China prices of PTA were
assessedupattheUSD910/mtlevels,adayondayriseofUSD5/mt.Inthedomesticmarkets
ofChina,pricesofPTAwereassessedhigherattheYuan6650/mtlevels.
PricesofPTAonJune4climbedinAsia.FirmerfellowpolyesterfeedstockMEGvaluescoupled
withhigherupstreamPXrates,wereseensupportingtheincreaseinspotPTAprices.CFRChina
prices of PTA were assessed up at the USD 920/mt mark, a day on day gain of USD 10/mt. In
China,domesticpricesofPTAwerehigherattheYuan6660/mtlevels.
Firmer Asian prices ofPX supported a rise in spot prices of PTA on June 5. CFR China pricesof
PTA were assessed up at the USD 930/mt levels, a rise of USD 10/mt on the day. In the
domesticChinamarkets,PTApriceswereassessedupattheYuan6760/mtlevels,adayonday
gainofYuan100/mt.
PTA prices galloped higher in Asia during week 1. Prices firmed on the back of higher PTA
futuresontheZhengzhouCommodityExchangeinChina.Tightproductavailabilityintheregion
and firmer upstream PX rates further supported the price gain. CFR China prices of PTA were
assessed atthe USD 945/mt levels, a sharp gain of USD 40/mt from last week. CFR South East
AsiapricesofPTAwereupattheUSD975/mtlevels.CFRIndiapricesofPTAwerehigheratthe
USD 985/mt levels, a steep increase of USD 45/mt from the previous week. In China, Sinopec
hasnominateditsPTAcontractpriceforJuneattheYuan6900/mtlevels.Thispricerepresents
a sharp gain of Yuan 350/mt from May settlement levels. In plant news, Hengli Petrochemical
has shut its 2.2 mmt/year PTA plant, located in Dalian, China, in early June 2014 for
maintenanceturnaround.Theplantisexpectedtoremainshutforaround15days.Inanother
plantnews,YishengDahuaPetrochemicalislikelytoshutits3.3mmt/yearPTAplant,locatedin
Dalian,China,towardstheendJune2014owingtoweakeconomicfundamentals.
FirmerupstreamPXvaluespushedPTApricesinAsiahigheronJune11.CFRChinapricesofPTA
were assessed up at the USD 940/mt levels, a day on day rise of USD 5/mt. In the domestic
marketsofChina,pricesofPTAwereassessedhigherattheYuan6995/mtlevels.
FirmerAsianpricesofPXsupportedariseinspotpricesofPTAonJune12.CFRChinapricesof
PTA were assessed up at the USD 950/mt levels, a day on day rise of USD 10/mt. In the
domesticChinamarkets,PTApriceswereassessedupattheYuan7110/mtlevels,asharpgain
ofYuan115/mt.
D3 PTA Summary

105

PTA prices marched higher in Asia during week 2. Prices firmed as availability in the region
continued to remain constrained. Supporting the price rise was a sharp gain in upstream PX
values. The price rise was further supported by higher PTA futures on the Zhengzhou
Commodity Exchange in China. CFR China prices of PTA were assessed up at the USD 965/mt
levels,againofUSD20/mtfromlastweek.CFRSouthEastAsiapricesofPTAwerehigheratthe
USD995/mtlevels.CFRIndiapricesofPTAwerehigherattheUSD1000/mtlevels,ariseofUSD
15/mtfromthepreviousweek.
Prices of PTA dropped in Asia on June 17. The price fall was prompted by weak demand
sentiments in the region. A drop in fellow polyester feedstock MEG values further supported
thefallinspotPTAprices.CFRChinapriceswereassesseddownattheUSD960/mtlevels,afall
ofUSD10/mtontheday.InthedomesticmarketsofChina,pricesofPTAwereassessedlower
attheYuan7345/mtlevels.
PTA prices in Asia inched lower on June 19. The price fall was on account of weak regional
buyingtrends.CFRChinapricesofPTAwereassesseddownattheUSD955/mtlevels,adayon
day drop of USD 5/mt. In the domestic China markets, PTA prices were assessed lower at the
Yuan7260/mtlevels,afallofYuan40/mtontheday.
DespiteasharpgaininupstreamPXvalues,PTApricesdroppedinAsiaduringweek3.Theprice
fall was attributed to dull buying trends in the region. CFR China prices of PTA were assessed
downattheUSD955/mtlevels,afallofUSD10/mtfromlastweek.CFRSouthEastAsiaprices
of PTA were lower at the USD 980/mt levels. CFR India prices of PTA were down at the USD
985/mt levels, a fall of USD 15/mt from the previous week. In plant news, Yisheng Dahua
Petrochemicalislikelytoshutits3.3mmt/yearPTAplant,locatedinDalian,China,towardsthe
endJune2014owingtoweakeconomicfundamentals.
PricesofPTAonJune26marchedhigherinAsia.FirmerfellowpolyesterfeedstockMEGvalues
coupled with higher upstream PX rates, were seen supporting the increase in spot PTA prices.
CFR China prices of PTA were assessed up at the USD 975/mt mark, a day on day gain of USD
20/mt.InChina,domesticpricesofPTAwerehigherattheYuan7485/mtlevels.
Firmer feedstock PX rates supported a climb in spot prices of PTA in Asia during week 4. The
pricerisewasfurthersupportedbyhigherPTAfuturesontheZhengzhouCommodityExchange
in China. CFR China prices of PTA were assessed up at the USD 995/mt levels, a sharp gain of
USD40/mtfromlastweek.CFRSouthEastAsiapricesofPTAwerehigherattheUSD1020/mt
levels. CFR India prices of PTA were up at the USD 1030/mt levels, a steep increase of USD
45/mt from the previous week. In the contract markets, Sinopec has settled its PTA contract
price for June at the Yuan 7450/mt levels. This price represents a sharp rise of Yuan 900/mt

106

from May settlement levels. In plant news, Yisheng Dahua Petrochemical has shut its 2
mmt/yearNo.1PTAplant,locatedinDalian,China,midthisweekowingtotechnicalissues.
PTA prices in Asia inched higher on June 30. Gains in prices of upstream PX rates were seen
supportingtheincreaseinspotPTAprices.CFRChinapricesofPTAwereassessedhigheratthe
USD 1000/mt levels, a rise of USD 5/mt from June 27 assessed levels. Prices of PTA in China
wereupattheYuan7660/mtlevels.
D3FeedstockAverageWeeklyPTAPricesfor
June2014(USD/Tonne)
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
FarEastAsiaCFR
PTA 976 959 949 926 953 873 888 887
SouthEastAsiaCFR
PTA 1001 988 979 943 978 883 893 892
D3 PTA Price Chart & Graphical Trend

107

PriceMovementofPTAduringMarch2014to
June2014(USD/Tonne)
Grade
Jun14
Last4months(Mar14
Jun14)
High Low High Low
PTA
FEAsia 1000 905 1000 855
SEAsia 1025 915 1025 865
D3 PTA Price Movement

108

PlantUpdateofPTAforJune2014
PTA
Formosa
Chemicals&
FibreCorp
(FCFC)
Mailiao,
Taiwan
PTA
550,000
mt/yr
EarlyJune
2014
Maintenance
Turnaround
Yisheng
Petrochemical
Dalian,
Liaoning,
China
No.2PTA
3.3million
mt/yr
MidJune
2014
Theplantislikelyto
beshutowingto
negativePTA
margins.
Taekwang
Industrial
Ulsan,
South
Korea
PTA
1million
mt/yr
2Jun14 Theplantwasshut
duetomechanical
issues
(4Days)
Hengli
Petrochemical
Dalian,
China
PTA
2.2million
mt/yr
16Jun14
Restarted.Itwas
shutforaroundtwo
weeksfora
maintenance
turnaround.
Xianglu
Petrochemical
Fujian,
China
PTA
1.5million
mt/yr
MidJune
2014
Restarted.The
plantswereshuton
June5,2014fora
maintenance
turnaround.
(No.1&No.
2Plant)
Yisheng
Petrochemical
Dalian,
China
PTA
2.5million
mt/year
24Jun14
Theplantwastaken
offstreamowingto
technicalissues
(PlantNo.1)
Samsung
Petrochemical
Ulsan,
South
Korea
PTA
450,000
mt/yr
23Jun14
Theplantisplanned
tobekeptoff
streamtillH1July,
2014owingtoweak
marginsforPTA.
Initiallyitwas
scheduledtorestart
onJune30,2014
(PlantNo.3)
D3 PTA Plant Update

109

MEG prices in Asia edged higher on June 3. Prices gained on the back of a rise in fellow
polyesterfeedstockPTAvalues.CFRChinapricesofMEGwereassessedupattheUSD960/mt
levels, a day on day rise of USD 5/mt. In China, local prices of MEG were higher at the Yuan
7150/mtlevels.
MEG prices in Asia leapt higher on June 4. Price gains were prompted by a rise in fellow
polyester cofeedstock PTA values and reports of improved buying sentiments in the region.
CFRChinapriceswereassessedupattheUSD985/mtlevels,asharpriseofUSD25/mtonthe
day.InChina,domesticpricesofMEGwereassessedhigherattheYuan7310/mtlevels.
MEG prices climbed in Asia during week 1. Prices gained on the back of firmer PTA futures on
the Zhengzhou Commodity Exchange in China. On June 6, although prices dropped sharply on
theday,MEGwasassessedattheUSD965/mtCFRChinalevels,ariseofUSD10/mtfromlast
week.CFRSouthEastAsiapriceswereattheUSD970/mtlevels,againofUSD10/mtfromthe
previousweek.
Despiteafallinupstreamethylenevalues,MEGpricesinAsiamarchedhigheronJune9.Prices
climbed on the back of firmer polyester cofeedstock PTA rates and improved buying
sentimentsintheregion.CFRChinapricesofMEGwereassessedupattheUSD985/mtlevels,
asharpriseofUSD20/mtfromJune6assessedlevels.InChina,domesticpricesofMEGwere
assessedupattheYuan7300/mtlevels.
Despiteweakerupstreamethylenevalues,MEGpricesinAsiaclimbedonJune10.Thepricerise
was supported by improved buying trends witnessed in the region. CFR China prices of MEG
were assessed up at the USD 995/mt levels, a day on day rise of USD 10/mt. In China, local
pricesofMEGwerehigherattheYuan7345/mtlevels.
Prices of MEG finished sharply lower in Asia on June 11. The price fall was on the back of
weakerupstreamethylenevaluescoupledwithdullbuyingsentimentsintheregion.CFRChina
pricesofMEGwereassesseddownattheUSD980/mtlevels,adayondayslideofUSD15/mt.
InthedomesticmarketsofChina,MEGpriceswerelowerattheYuan7280/mtlevels.
Bearish upstream ethylene values pushed MEG prices lower in Asia on June 12. The price fall
was further pressured by weak buying trends and dull downstream polyester markets. CFR
ChinapricesofMEGwereassesseddownattheUSD975/mt,afallofUSD5/mtontheday.
Despiteafallinupstreamethylenevalues,MEGpricessurgedinAsiaduringweek2.FirmerPTA
futures on the Zhengzhou Commodity Exchange in China supported the sharp price rise in the
D4 MEG Summary

110

region.OnJune13,MEGpriceswereassessedupattheUSD1000/mtCFRChinalevels,asharp
increase of USD 35/mt from last week. CFR South East Asia prices were higher at the USD
1005/mt levels, a sharp gain of USD 35/mt from the previous week. In China, domestic prices
wereupattheYuan7460/mtlevels.
MEG prices in Asia slipped on June 17. Prices dropped on the back of weaker upstream
ethylenevaluescoupledwithafallinfellowpolyesterfeedstockPTArates.CFRChinapricesof
MEGwereassesseddownattheUSD995/mtlevels,asharpdropofUSD20/mtontheday.In
thedomesticmarketsofChina,MEGpricesweredownattheYuan7340/mtlevels.
Despiteweakerupstreamethylenerates,MEGpricesinAsiaclimbedonJune19.Pricesgained
on the back of improved buying sentiments in the region. CFR China prices of MEG were
assessedupattheUSD1000/mtlevels,ariseofUSD10/mtontheday.InChina,localpricesof
MEGwerehigherattheYuan7360/mtlevels.
MEG prices declined in Asia during week 3. The price fall was on the back of softer buying
interestintheregionandweakerfellowpolyesterfeedstockPTArates.OnJune20,MEGprices
wereassesseddownattheUSD995/mtCFRChinalevels,afallofUSD5/mtfromlastweek.CFR
South East Asia prices were lower at the USD 1000/mt levels, a drop of USD 5/mt from the
previousweek.InChina,domesticpriceswereattheYuan7460/mtlevels.
FirmerfeedstockethylenevaluespushedMEGpricesinAsiahigheronJune26.Pricegainswere
furthersupportedbyariseinfellowpolyestercofeedstockPTAvaluesandreportsofimproved
buyingsentimentsintheregion.CFRChinapriceswereassessedupattheUSD1025/mtlevels,
adayondayriseofUSD20/mt.InChina,domesticpricesofMEGwereassessedhigheratthe
Yuan7580/mtlevels.
MEG prices marched higher in Asia during week 4. Firmer PTA futures on the Zhengzhou
Commodity Exchange in China supported the sharp price rise in the region. On June 27, MEG
prices were assessed up at the USD 1020/mt CFR China levels, a gain of USD 25/mt from last
week. CFR South East Asia prices were higher at the USD 1025/mt levels, a rise of USD 25/mt
fromthepreviousweek.InChina,domesticpriceswereupattheYuan7580/mtlevels.
Despite firmer upstream ethylene values, MEG prices on June 30 down adjusted in Asia.
DemandsentimentsfromthestartofthedaywereseensluggishandselleroffersforMEGwere
metwithresistance.CFRChinapricesofMEGwereassesseddownattheUSD1015/mt,afallof
USD 5/mt on the day. In the domestic markets of China, MEG prices were down at the Yuan
7470/mtlevels.

111

D4FeedstockAverageWeeklyMEGPrices@CNFIndiabasisfor
June2014(USD/Tonne)
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
MEG 1017 1003 994 974 997 915 909 933
PriceMovementofMEGduringMarch2014to
June2014(USD/Tonne)
Grade
Jun14
Last4months(Mar14
Jun14)
High Low High Low
MEG 1030 960 1030 890
D4 MEG Price Movement
D4 MEG Price Chart & Graphical Trend

112

PlantUpdateofMEGforJune2014
MEG
Maruzen
Petrochemical
Chiba,
Japan
MEG
115,000
mt/yr
EndJune
2014
Theplantis
plannedtobe
restarted.Itwas
shutonMay25,
2014for
maintenance
turnaround.
Mitsubishi
Chemical
Kashima,
Japan
MEG
280,000
mt/year
24Jun14
Restarted.The
plantwasundera
maintenance
turnaroundfor
around40days.
Zhenhai
Refining&
ChemicalCorp
(ZRCC)
Zhenhai,
China
MEG
650,000
mt/year
28Jun14
Theplantis
plannedtobe
restarted.Itwas
shutonMay17,
2014for
maintenance
turnaround.
NanYaPlastics
Mailiao,
Taiwan
MEG
350,000
mt/yr
Aug14
Maintenance
turnaround
(PlantNo.
3)
(1Month)
XinjiangTianye
Group
Xinjiang,
China
MEG
250,000
mt/yr
Aug14
Planstostartupa
newMEGplant
D4 MEG Plant Update

113

Despite a fall in upstream propylene rates, ACN prices marched higher in Asia during week 1.
The price rise was supported by constrained product avails coupled with improved buying
trendswitnessedinkeymarketslikeChina.CFRFarEastAsiapricesofACNwereassessedupat
the USD 1900/mt levels, a gain ofUSD 15/mt from last week. CFR South East Asia prices were
assessedhigherattheUSD1875/mtlevels,ariseofUSD5/mtfromthepreviousweek.InSouth
Asia, prices of ACN were assessed up at the USD 1910/mt CFR levels, a week on week gain of
USD20/mt.
Despiteaweekonweekfallinfeedstockpropylenevalues,ACNpricesbolsteredhigherinAsia
duringweek2.Strongdownstreamdemandsentimentsandconstrainedproductavailabilityin
the region together were seen responsible for the price rise. CFR Far East Asia prices of ACN
wereassessedhigherattheUSD1920/mtlevels,againofUSD20/mtfromthepreviousweek.
CFR South East Asia prices were assessed up at the USD 1900/mt levels, an increase of USD
25/mtfromlastweek.InSouthAsia,pricesofACNwereassessedupattheUSD1940/mtCFR
levels,asharpriseofUSD30/mtontheweek.
ACN prices gained in Asia during week 3, rising in tandem with firmer feedstock propylene
values. Supporting the price rise was bullish downstream demand in the region. CFR Far East
AsiapricesofACNwereassessedupattheUSD1930/mtlevels,againofUSD10/mtfromthe
previousweek.CFRSouthEastAsiapriceswereassessedhigherattheUSD1910/mtlevels,an
increase of USD 10/mt from last week. In South Asia, prices of ACN were assessed up at the
USD1960/mtCFRlevels,ariseofUSD20/mtfromthepreviousweek.Inplantnews,PTTAsahi
Chemical is likely to shut its 200,000 mt/year ACN plant, located in Map Ta Phut, Thailand, in
endJuly2014formaintenanceturnaround.Itisexpectedtoremainoffstreamforaroundone
month.
ACN prices climbed in Asia during week 4. CFR South East Asia prices were assessed higher at
theUSD1920/mtlevels,ariseofUSD10/mtfromthepreviousweek.CFRSouthAsia,pricesof
ACN were assessed up at the USD 1975/mt levels, a gain of USD 15/mt from last week. Prices
climbedmainlyonaccountoflimitedproductavailabilityintheregion.Supportingthepricerise
washigherfeedstockpropylenevalues.CFRFarEastAsiapricesofACNwereassessedflatfrom
lastweekattheUSD1930/mtlevels.OfferswereheardattheUSD1950/mtCFRlevels.Thereis
nobuyinginterestseenatthesepricelevels.InChina,localACNpriceswereheardattheYuan
14100/mtexworkslevels.
E. Intermediates
E1 Acrylonitrile (ACN) Summary

114

E1IntermediatesAverageWeeklyAcrylonitrilePrices
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
FarEastAsiaCFR
ACN 1930 1928 1917 1898 1918 1882 1957 2046
SouthEastAsiaCFR
ACN 1919 1908 1896 1874 1899 1868 1929 2013
E1 Acrylonitrile (ACN) Price Chart & Graphical Trend

115

PriceMovementofACNduringMarch2014to
June2014(USD/Tonne)
Petrochemical
Intermediates
Jun14
Last4months(Mar14
Jun14)
High Low High Low
ACN
FEAsia 1930 1885 2060 1875
SEAsia 1920 1870 2025 1860
PlantUpdateofACNforJune2014
ACN
Ascend
Performance
Materials
Texas,US ACN
1billion
lb/year
Aug14
Maintenance
turnaround
(2Weeks)
E1 Acrylonitrile (ACN) Price Movement

E1 Acrylonitrile (ACN) Plant Update

116

DOPpricesinAsiawereassessedflatduringweek1.ThisisdespiteweakerupstreamPAvalues.
CFRChinapricesofDOPwereassessedsteadyfromlastweekattheUSD1510/mtlevels.Offers
were heard at the USD 1550/mt CFR China levels. Bids were heard at the USD 1480/mt CFR
Chinalevels.CFRSouthEastAsiapriceswereassessedflatattheUSD1530/mtlevels.
Despite weaker upstream 2EH values, DOP prices in Asia were assessed stable during week 2.
CFRChinapricesofDOPwereassessedsteadyfromlastweekattheUSD1510/mtlevels.Offers
were heard at the USD 1550/mt CFR China levels. Bids were heard at the USD 1480/mt CFR
Chinalevels.CFRSouthEastAsiapriceswereassessedflatattheUSD1530/mtlevels.
DOPpricesinAsiagainedduringweek3.Pricesfirmedinlinewithgainsrecordedinupstream
prices of 2EH. CFR China prices of DOP were assessed up at the USD 1515/mt levels, a rise of
USD 5/mt from the previous week. Offers were heard at the USD 1550/mt CFR China levels.
Bids were heard at the USD 14901500/mt CFR China levels. CFR South East Asia prices were
assessedhigherattheUSD1535/mtlevels,againofUSD5/mtfromlastweek.
DOP prices in Asia journeyed north during week 4. Prices climbed on the back of reports of
improvedregionalbuyingtrendscoupledwithgainsinspotPAprices.CFRChinapricesofDOP
were assessed up at the USD 1525/mt levels, a rise of USD 10/mt from the previous week.
Offers were heard at the USD 1550/mt CFR China levels. CFR South East Asia prices were
assessedhigherattheUSD1545/mtlevels,againofUSD10/mtfromlastweek.
E2 DOP Summary

117

E2IntermediatesAverageWeeklyDOPPricesfor
June2014(USD/Tonne)
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
FarEastAsiaCFR
DOP 1524 1513 1510 1510 1514 1503 1502 1514
SouthEastAsiaCFR
DOP 1541 1533 1530 1530 1534 1523 1522 1534
E2 DOP Price Chart & Graphical Trends

118

PriceMovementofDOPduringMarch2014to
June2014(USD/Tonne)
Petrochemical
Intermediates
Jun14
Last4months(Mar14
Jun14)
High Low High Low
DOP
FEAsia 1525 1510 1545 1480
SEAsia 1545 1530 1565 1500
E2 DOP Price Movement

119

Despite weaker upstream propylene values, 2EH prices were assessed steady during week 1.
Product availability was reported to be tight in the region. CFR China prices of 2EH were
assessed stable from last week at the USD 1435/mt levels. Offers were heard at the USD
1450/mtCFRChinalevels.BuyerbidswereattheUSD1400/mtCFRChinalevels.InSouthEast
Asia, prices of 2EH were assessed unchanged at the USD 1475/mt CFR levels. In China, the
domesticpricesof2EHwereattheYuan9950/mtlevels.Inplantnews,AndhraPetrochemicals
hasshutits48,000mt/year2EHplant,locatedinVishakhapatnam,AndhraPradesh,onMay26,
2014owingtoweakeconomicfundamentals.
Reportsofpoordownstreamdemandtrendspressured2EHpriceslowerinAsiaduringweek2.
CFR China prices of 2EH were assessed lower at the USD 1425/mt levels, a fall of USD 10/mt
from the previous week. In South East Asia, prices of 2EH were assessed down at the USD
1465/mtCFRlevels,adropofUSD10/mtfromlastweek.InChina,thedomesticpricesof2EH
weredownattheYuan9500/mtlevels.
With a rise recorded in upstream propylene values, 2EH prices in Asia during week 3 firmed.
Supportingthepricespikeweregainsinglobalenergyvaluescoupledwithtight2EHavailability
intheregion.CFRChinapricesof2EHwereassessedhigherattheUSD1430/mtlevels,againof
USD 5/mt from the previous week. In South East Asia, prices of 2EH were assessed up at the
USD 1470/mt CFR levels, a rise of USD 5/mt from last week. In China, the domestic prices of
2EHwerehigherattheYuan9975/mtlevels.
2EH prices in Asia were assessed steady during week 4. This is despite improved demand
sentimentsintheregionandhigherfeedstockpropylenevalues.CFRChinapricesof2EHwere
assessedflatfromlastweekattheUSD1430/mtlevelswhileCFRSouthEastAsia,pricesof2EH
wereassessedunchangedattheUSD1470/mtCFRlevels.InChina,thedomesticpricesof2EH
werehigherattheYuan10000/mtlevels.
E3 2EH Summary

120

E3IntermediatesAverageweekly2EHPricesfor
June2014(USD/Tonne)
Grade W4 W3 W2 W1
Jun
14
May
14
Apr
14
Mar
14
FarEastAsiaCFR
2EH 1430 1428 1430 1435 1431 1428 1417 1410
SouthEastAsiaCFR
2EH 1470 1468 1470 1475 1471 1468 1457 1438

E3 2EH Price Chart & Graphical Trend

121

PriceMovementof2EHduringMarch2014to
June2014(USD/Tonne)
Petrochemical
Intermediates
Jun14
Last4months(Mar14
Jun14)
High Low High Low
2EH
FEAsia 1435 1425 1435 1390
SEAsia 1475 1465 1475 1415
PlantUpdateof2EHforJune2014
2EH
PetroOxo
Nusantara
(PON)
Gresik,
Indonesia
2EH
140,000
mt/yr
3rdweekof
June2014
Theplantwasshut
foramaintenance
turnaround.
E3 2EH Price Movement

E3 2EH Plant Update

122

AdullbuyingmoodwasobservedonJune2intheopenmarketsofMumbai.
BuyingtrendswereverydullintheopenmarketsofMumbaionJune3.
AverydullbuyingmomentumwasobservedintheopenmarketsofMumbaionJune4.
SlowbuyingmoodwaswitnessedonJune5intheopenmarketsofMumbai.
AverydullbuyingmoodcontinuedtoprevailintheopenmarketsofMumbaionJune6.
Thebuyingpulseremainedverysoftthroughouttheweek1intheopenmarketsofMumbai.
AdullbuyingmoodwasobservedonJune9intheopenmarketsofMumbai.
NeedbasedbuyingsentimentswererecordedintheopenmarketsofMumbaionJune10.
AslowbuyingmoodwasrecordedintheopenmarketsofMumbaionJune11.
BuyingactivityremainedverysoftonJune12intheopenmarketsofMumbai.
Buying activity remained dull in PP while purchase pulse was needbased in HDPE and LDPE
grades.LLDPEandPVCbuyinginquiriesremainsteadyintheopenmarketsofIndia,onJune13.
Thebuyingpulseremainedmoderatethroughouttheweek2intheopenmarketsofMumbai.
Buying inquiries in PE and PVC remained encouraging while PP buying pulse continued to
remainsoft,intheopenmarketsofMumbaionJune16.
A steady buying mood was recorded in PE and PVC while PP buying sentiments continued to
remaindullonJune17intheopenmarketsofMumbai.
AdullbuyingmoodobservedintheopenmarketsofMumbaionJune18.
OnJune19,PEandPVCpurchasepulsewassteadywhilePPbuyinginterestremainedverydull
intheopenmarketsofMumbai.
A stable buying was observed in PVC and PE. The purchase pulse in PP continued to remain
sluggishintheopenmarketsofMumbaionJune20.
F1 Indian Polymers Market Summary
F. Indian Polymers

123

Thebuyingpulseremainedverysoftthroughouttheweek3intheopenmarketsofMumbai.
AveragebuyinginquirieswasrecordedinPEandPVCwhilePPbuyingmoodremainedverysoft
onJune23intheopenmarketsofMumbai.
The buying mood in PP improves while steady buying trends were seen in PE and PVC in the
openmarketsofMumbaionJune24.
Steady buying inquiries were recorded across all polymers on June 25 in the open markets of
India.
ThebuyingmoodremainedstableintheopenmarketsofIndiaonJune26.
PP and PE purchase pulse remained strong while needbased buying was seen in PVC in the
openmarketsofIndiaonJune27.
PPandPEbuyingtrendswerestrongwhileanaveragebuyingpulsewasseeninPVCduringthe
week4intheopenmarketsofMumbai.
On June 30, strong buying inquiries were recorded in PP and PE while in PVC buying pulse
remainedneedbasedintheopenmarketsofMumbai.

124

PriceMovementofLLDPEinIndianPolymermarketforJune2014(Rs./Kg)
LLDPE
Jun14
Last4months(Mar'14
June'14)
High Low High Low
Film 113.26 113.26 114.26 110.75
Roto
Moulding
111.95 111.95 112.95 110.95
Injection
Moulding
115.76 115.76 117.76 115.76
Extrusion
Coating
114.74 114.74 115.74 113.74
PriceMovementofLDPEinIndianPolymermarketforJune2014(Rs./Kg)
(Note:LDPEpricesareexBhivandi,inclusiveofexciseduty)
LDPE
Jun14
Last4months(Mar'14
June'14)
High Low High Low
General
Purpose
133.11 133.11 134.24 130.30
HeavyDuty 135.21 135.21 136.34 132.41
MilkPouch 138.47 138.47 139.60 136.23
Injection
Moulding
135.26 135.26 136.38 133.01
Lamination 141.26 141.26 144.18 141.26
F2 Indian Polymers Price Movement

125

PriceMovementofHDPEinIndianPolymermarketforJune2014(Rs./Kg)
HDPE
Jun14
Last4months(Mar'14
June'14)
High Low High Low
Raffia 108.34 108.34 113.34 108.34
Film 106.96 106.96 107.96 106.96
Injection
Moulding
109.83 109.83 110.83 109.83
Blow
Moulding
109.29 109.29 110.29 109.29
PriceMovementofPPinIndianPolymermarketforJune2014(Rs./Kg)
PP
Jun14
Last4months(Mar'14
June'14)
High Low High Low
Raffia 107.08 107.08 114.08 107.08
Injection
Moulding
105.27 105.27 108.27 105.27
TQFilm 108.47 108.47 111.47 108.47
Block
Copolymer
108.36 108.36 111.36 108.36
Random
Copolymer
110.89 110.89 113.89 110.89
BOPP 109.6 109.6 112.60 109.60
PriceMovementofPVCinIndianPolymermarketforJune2014(Rs./Kg)
PVC
Jun14
Last4months(Mar'14
June'14)
High Low High Low
Suspension 78.00 78.00 78.00 75.50

126

PriceMovementofPSinIndianPolymermarketforJune2014(Rs./Kg)
PS
Jun14
Last4months(Mar'14
June'14)
High Low High Low
GPPS 128.00 128.00 135.00 128.00
HIPS 132.00 132.00 138.00 132.00
PriceMovementofABSinIndianPolymermarketforJune2014(Rs./Kg)
ABS
Jun14
Last4months(Mar'14
June'14)
High Low High Low
ABS 138.97 138.97 144.97 138.97
PriceMovementofPETinIndianPolymermarketforJune2014(Rs./Kg)
PET
Jun14
Last4months(Mar'14
June'14)
High Low High Low
Bottle 106.4 100.9 106.90 100.90

127

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POLYMERUPDATE - Asian Petrochemical

Monthly Price Watch Report

Crude Oil Graphical Trend

Crude Oil Price Movement

NymexCrude DatedBrent WTICushing

Naphtha Graphical Trend

A.1 LLDPE Price Chart & Graphical Trend

A.1 LLDPE Price Movement

A.1 LLDPE Plant Update

A.2 LDPE Price Chart & Graphical Trend

A.2 LDPE Price Movement

A.2 LDPE Plant Update

A.3 HDPE Price Chart & Graphical Trend

A.3 HDPE Plant Update

A.4 PP Price Chart & Graphical Trend

A.4 PP Price Movement A.4 PP Price Movement

A.4 PP Plant Update

A.5 PVC Plant Update

A.6 Polystyrene (PS) Price Chart & Graphical Trend

A.7 ABS Summary

A.7 ABS Price Chart & Graphical Trend

A.7 ABS Price Movement

B1 Benzene Price Movement

B1 Benzene Plant Update

B2 Toluene Price Chart & Graphical Trend

FOBKorea 1220 1065 1220 1010

B2 Toluene Price Movement B2 Toluene Price Movement

B3 Xylene Price Chart & Graphical Trend

FOBKorea 1245 1160 1245 1165

FOBKorea 1465 1225 1465 1125

FOBKorea 1115 1020 1115 980

FOBKorea 1230 1040 1230 1005

B3 Xylene Price Movement

B3 Xylene Plant Update

B4 Methanol Price Chart & Graphical Trend

CFRIndia 305 300 480 300

B4 Methanol Price Movement

B4 Methanol Plant Update

C1 Butadiene Price Chart & Graphical Trend

China 1360 1240 1450 1190

C1 Butadiene Price Movement

C1 Butadiene Plant Update

Japan 1405 1365 1440 1365

C2 Ethylene Price Movement

C2 Ethylene Plant Update

C3 Propylene Price Chart & Graphical Trend

Japan 1375 1345 1390 1315

D1 Styrene Monomer Price Movement

D1 Styrene Monomer Plant Update

D2 EDC/VCM Price Movement

D3 PTA Price Chart & Graphical Trend

D3 PTA Price Movement

D4 MEG Plant Update

E1 Acrylonitrile (ACN) Price Chart & Graphical Trend

E1 Acrylonitrile (ACN) Price Movement

E2 DOP Price Chart & Graphical Trends

E2 DOP Price Movement

E3 2EH Price Chart & Graphical Trend

E3 2EH Price Movement

F2 Indian Polymers Price Movement

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