US BENZENE/STYRENE
Spot benzene trended lower this week with July
trades heard Thursday at $1,510/mt (504
cents/gal) DDP USG. July closed at $1,507/mt DDP
USG down $24 from the previous week. August
maintained a $48 discount and was seen
$1,459/mt (488 cents/gal) DDP USG.
The price spread between the TPS FOB Korea
marker and US M2 DDP benzene was at $52/mt,
down $22 week on week.
The M1 5-day moving average was estimated at
$20.42 (6.83 cents) above Friday’s spot close at
$1,527.50/mt (510.83 cents/gal). The 20-day
moving average rose $13.87 above the spot close
on Friday, estimate at $1,520.84/mt (508.64
cents/gal) on a DDP basis.
The month-to-date average spot M1 spot price
stood at $1,535.04/mt (513.39 cents/gal) as of
close of business July 11. The monthly average for
June was $1,445.37/mt (483.40 cents/gal)on a DDP
basis.
Spot styrene values retreated, closing the week
assessed at $1,645/mt (74.60 cents/gal) FOB USG.
August was assessed at $1,640/mt (74.40
cents/gal) FOB USG after trades were heard done
at that level Thursday. The styrene-benzene spread
closed Friday at $137.75/mt.
Margins for styrene makers were negative this
week after being severely dented on a spike in the
benzene contract and a higher ethylene contract.
Margins were estimated at -$11.02/mt Friday.
US TOLUENE AND XYLENES
Spot MX values softened notably, closing Friday at
$1,203/mt FOB USG after July traded twice at that
level on Wednesday and Thursday. The week on
week change was a decline of near $51.50/mt
Sources said that there was unlikely to be a
settlement in the July MX contract.
Toluene prices gained ground week on week, up $9
to close Friday at $1,283/mt FOB USG.
Aromatics In Review
-$50.00
$0.00
$50.00
$100.00
$150.00
$200.00
$250.00
60.0062.0064.0066.0068.0070.0072.0074.0076.0078.00
11
-Mar
-14
17
-Mar
-14
21
-Mar
-14
27
-Mar
-14
2-A
pr-
14
8-A
pr-
14
14
-Ap
r-1
4
21
-Ap
r-1
4
25
-Ap
r-1
4
2-M
ay-1
4
8-M
ay-1
4
14
-May
-14
20
-May
-14
27
-May
-14
2-J
un
-14
6-J
un
-14
12
-Ju
n-1
4
18
-Ju
n-1
4
24
-Ju
n-1
4
30
-Ju
n-1
4
7-J
ul-
14
11
-Ju
l-1
4
Styrene production costs Styrene spot value SM margins $/mt
$1,000.00
$1,050.00
$1,100.00
$1,150.00
$1,200.00
$1,250.00
$1,300.00
$1,000.00
$1,050.00
$1,100.00
$1,150.00
$1,200.00
$1,250.00
$1,300.00
$1,350.00
3-Mar-14 3-Apr-14 3-May-14 3-Jun-14 3-Jul-14
Spot Toluene Spot MX
July 11, 2014
-$50.00
$0.00
$50.00
$100.00
$150.00
$200.00
$600.00
$800.00
$1,000.00
$1,200.00
$1,400.00
$1,600.00
$1,800.00
3-M
ar-1
4
10
-Mar
-14
17
-Mar
-14
24
-Mar
-14
31
-Mar
-14
7-A
pr-
14
14
-Ap
r-1
4
22
-Ap
r-1
4
29
-Ap
r-1
4
7-M
ay-1
4
15
-May
-14
22
-May
-14
30
-May
-14
6-J
un
-14
13
-Ju
n-1
4
20
-Ju
n-1
4
27
-Ju
n-1
4
7-J
ul-
14
US BZ DDP M2 BZ FOB KOREA SPREAD
300.00
350.00
400.00
450.00
500.00
550.00
3-M
ar-1
4
7-M
ar-1
4
13
-Mar
-14
19
-Mar
-14
25
-Mar
-14
31
-Mar
-14
4-A
pr-
14
10
-Ap
r-1
4
16
-Ap
r-1
4
23
-Ap
r-1
4
29
-Ap
r-1
4
6-M
ay-1
4
12
-May
-14
16
-May
-14
22
-May
-14
29
-May
-14
4-J
un
-14
10
-Ju
n-1
4
16
-Ju
n-1
4
20
-Ju
n-1
4
26
-Ju
n-1
4
2-J
ul-
14
8-J
ul-
14
SPOT BZ M1 DDP USG 5-DAY MOV AVE 20-DAY MOV AVE
Aromatics In Review
US BENZENE/STYRENE
IMPORTS AND EXPORTS
GLOBAL MAINTENANCE AND TURNAROUNDS
*The blend value for T/X employs a formula which divides the regrade by 6,
multiplies it by 17 and then adds it to the GC Unleaded cash price.
Toluene imports for the first half of July were
at just over 6,150 metric tons.
The toluene/xylene blend value was lower
week on week, down 24.8 cents to close
Friday at 354.77 cents/gal.
TDP margins fell sharply on the week as
benzene and mixed xylenes prices fell.
Margins were estimated Friday at
PX prices fell in concert with MX amid weak
demand and were estimated Friday at
$1,295/mt FOB USG. The PX-MX spread was
at $93/mt to close the week.
The gains were attributed to stronger regrade
values which closed at 22.2 5 on Thursday.
Finally styrene prices were firm on stronger
demand and tight supply. Both June and July
prices were talked near 72 cents/lb while
producer margins were estimated at almost
$139/mt.
FOB Korea spot benzene prices closed the
week higher, touching as high as $1,362/mt
before closing Friday at $1,352/mt, up $6
week on week.
CFR China benzene values maintained a $66
premium to FOB Korea prices, closing Friday
at $1,418.50/mt.
The month to date FOB Korea spot benzene
average was at $1,354.50. June’s FOB Korea
spot average was at $1,340.69/mt.
Spot styrene values on an FOB Korea and CFR
China basis closed the week at $1,615.50/mt
and $1,635.25/mt respectively, down $2 on
the week.
The spread between FOB Korea and CFR
China spot was at $19.75 Friday, down from
$20.50 the previous week.
Styrene spot averages were at $1,616.79/mt
FOB Korea and $1,636.43 CFR China at close
of business Friday.
The FOB Korea styrene-naphtha spread was
at $659.56.
Asian spot toluene prices closed the week
$7 lower, assessed Friday at $1,170/mt.
Spot mixed xylene prices moved higher, up
$16 week on week to close Friday at
$1,183.50/mt FOB Korea.
MX saw support from stronger PX prices,
which clawed back previous losses, gaining
$30 week on week to be assessed Friday at
$1,390/mt FOB Korea.
The month to date averages for MX and PX
on an FOB Korea basis were at $1,168.72
and $1,361.39/mt, respectively.
The PX-MX spread was at $206.50/mt on
Friday.
TDP margins for Asian producers rose $18
on the week, estimated Friday at $102/mt.
Shell Chemical faced an unplanned outage at its Deer Park, Texas reformer on July 4. Details were not immediately
available however the company declared force majeure on MX out of the facility. The company has an estimated capacity
of 200,000 mt/year at Deer Park.
Chevron restarted its catalytic reformer at Pascagoula on July 2. The reformer, which has an estimated benzene capacity of
601,000 mt/year, was shut for unplanned maintenance on June 23.
JX Nippon delayed the restart of its 550,000 metric ton PX unit at Kashima due to a technical glitch. The unit was shut on
May 10-11 for planned maintenance and originally slated to restart in early July.
Japan’s Idemitsu Kosan plans to restart its aromatics plant at Chiba in mid-September after the unit was shut on July 1 for
a planned turnaround. The company will shut its Tokuyama plant following the restart of the Chiba plant.
250.00270.00290.00310.00330.00350.00370.00390.00410.00
1-A
pr-
14
4-A
pr-
14
9-A
pr-
14
14
-Ap
r-1
4
17
-Ap
r-1
4
22
-Ap
r-1
4
25
-Ap
r-1
4
30
-Ap
r-1
4
5-M
ay-1
4
8-M
ay-1
4
13
-May
-14
16
-May
-14
21
-May
-14
26
-May
-14
29
-May
-14
3-J
un
-14
6-J
un
-14
11
-Ju
n-1
4
16
-Ju
n-1
4
19
-Ju
n-1
4
23
-Ju
n-1
4
26
-Ju
n-1
4
1-J
ul-
14
4-J
ul-
14
9-J
ul-
14
Blend Value for Tol/Xyl
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
3-M
ar-1
4
7-M
ar-1
4
13
-Mar
-14
19
-Mar
-14
25
-Mar
-14
31
-Mar
-15
4-A
pr-
14
10
-Ap
r-1
4
16
-Ap
r-1
4
23
-Ap
r-1
4
29
-Ap
r-1
4
6-M
ay-1
4
12
-May
-14
16
-May
-14
22
-May
-14
29
-May
-14
4-J
un
-14
10
-Ju
n-1
4
16
-Ju
n-1
4
20
-Ju
n-1
4
26
-Ju
n-1
4
2-J
ul-
14
9-J
ul-
14
US TDP Margins $/mt
1,000.00
1,100.00
1,200.00
1,300.00
1,400.00
1,500.00
24
-Fe
b
3-M
ar
10
-Mar
17
-Mar
24
-Mar
31
-Mar
7-A
pr
14
-Ap
r
21
-Ap
r
28
-Ap
r
5-M
ay
12
-May
19
-May
26
-May
2-J
un
9-J
un
16
-Ju
n
23
-Ju
n
30
-Ju
n
7-J
ul
BZ CFR China BZ FOBK
1,480.00
1,500.00
1,520.00
1,540.00
1,560.00
1,580.00
1,600.00
1,620.00
1,640.00
1,660.00
10
-Mar
17
-Mar
24
-Mar
31
-Mar
7-A
pr
14
-Ap
r
21
-Ap
r
28
-Ap
r
5-M
ay
12
-May
19
-May
26
-May
2-J
un
9-J
un
16
-Ju
n
23
-Ju
n
30
-Ju
n
7-J
ul
SM FOBK SM CFR C
EDITORS CONTACT INFORMATION
Kevin Allen [email protected] 713.344.3690 Yahoo: tpsusaros
ASIAN BENZENE/STYRENE
ASIAN TOLUENE AND XYLENES
TPS makes no guarantees to the accuracy, timeliness or completeness of this data and shall not be held liable for losses or damages incurred as a result of any party’s dependence
or usage of the data and information contained in the report. Copyright © The Petrochemical Standard 2014 | [email protected]
$100.00
$120.00
$140.00
$160.00
$180.00
$200.00
$220.00
$240.00
$260.00
$600.00$700.00$800.00$900.00
$1,000.00$1,100.00$1,200.00$1,300.00$1,400.00$1,500.00$1,600.00
10
-Mar
14
-Mar
20
-Mar
26
-Mar
1-A
pr
7-A
pr
11
-Ap
r1
7-A
pr
24
-Ap
r3
0-A
pr
7-M
ay1
4-M
ay2
0-M
ay2
6-M
ay3
0-M
ay5
-Ju
n1
1-J
un
17
-Ju
n2
3-J
un
27
-Ju
n3
-Ju
l9
-Ju
l
I-MX FOBK PX FOBK Spread
$950.00
$1,000.00
$1,050.00
$1,100.00
$1,150.00
$1,200.00
$1,250.00
10
-Mar
14
-Mar
20
-Mar
26
-Mar
1-A
pr
7-A
pr
11
-Ap
r
21
-Ap
r
28
-Ap
r
6-M
ay
14
-May
21
-May
28
-May
4-J
un
10
-Ju
n
17
-Ju
n
24
-Ju
n
1-J
ul
8-J
ul
Tol FOBK Tol CFR C
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