Export volumes to the US from South Korea and Japan increased from 29 kt in March to 175 kt in June. Consequently, the Asian benzene balance has improved, resulting in Asian prices closing the gap on US and Europe prices to the September monthly average of $701 per mt FOB South Korea. The benzene to naphtha spread (margins) reduced from $225 per mt in August 2018 to $51 per mt in March 2019 caused by the increase in benzene imports to China which resulted in an increase in China’s benzene inventory. Find webinars, industry briefings, conferences, training and user groups. US STDP operating rates have also been reduced and the US now has more room for benzene imports from Asia and this is an opportunity for Asian producers looking to diversify their market after China added big benzene capacities this year. The relatively tighter Asian benzene market will begin to ease. In Indonesia, Chandra Asri will complete their naphtha cracker turnaround in mid-September. BASF to increase prices for select polyetheramines in U.S. and Canada Key Companies In The Benzene … Find here online price details of companies selling Benzene. In March this year, the US toluene price surged with the start of gasoline season. Monthly advisories and detailed reports on petrochemicals market in India. The … Your email address will not be published. From last November to February this year, the benzene net back price to China was higher than the net back price to the United States (US). Sustainability drives the entire IHS Markit enterprise. In China, imported benzene closed the week lower at $840-850/mt (281-284 cpg) CFR China, Benzene Highlights from 07 Dec,2020 - 18 Dec,2020. September was the best month this year for the global benzene market in terms of prices. Polyol PRICE INCREASE. FCFC in Taiwan, which has been operating three styrene plants in spite of the No.2 aromatics plant undertaking a turnaround starting from the beginning of September for 45 days and the outage of the No.3 aromatics plant since April due to an explosion at the reformer. 3 aromatics plant in the fourth quarter, which has been shut since April after the explosion. The benzene to naphtha spread (margins) reduced from $225 per mt in August 2018 to $51 per mt in March 2019 caused by the increase in benzene imports to China which resulted in an increase in China’s benzene inventory. Less than 1… https://t.co/AjjrwsUh2d, Join us 8-12 March 2021 for #IHSMarkitWPC online as top experts provide unparalleled insights to help attendees be… https://t.co/jfqhvSGH0E, Get a unique view of existing #petrochemical capacity along with real start-up data with our global #chemical asset… https://t.co/ByCcEfaXpg, Copyright © 2020 IHS Markit. Benzene plant operation round-up (Dec 31, 2020) Jan 4 2021 8:24AM : Benzene market daily (Dec 31, 2020) Dec 31 2020 4:45PM : China-Europe freight train number via Xinjiang port hits new high: Dec 31 2020 4:04PM : China's manufacturing PMI hits 51.9 in December: Dec 31 2020 4:03PM IHS Markit will resume our in-person events once it is safe to do so. The differences in benzene prices in different countries are due to government subsidies for gasoline and the size of taxes, for example, all countries in the world buy oil at the same prices but later impose different taxes, leading to different retail prices for gasoline. The international market had no large surplus and was relatively balanced. Get the objective, authoritative analysis you need without delays. More than 300 kt per month of benzene was imported into China from last November to March this year. Get info of suppliers, manufacturers, exporters, traders of Benzene for buying in India. Low benzene margins, therefore, became an issue. Zhejiang PC plans to start reformer operations from October and Hengyi in Brunei has started to charge crude oil in September with reformer and TA operations expected to start soon. Get ahead of Interbank Offered Rate (IBOR) benchmark reform, California Do Not Sell My Personal Information. In total, more than 2 million mt of new benzene capacity will be added and benzene margins are expected to be squeezed. May benzene price Europe Thus, if we take the price of benzene in dollar equivalent, then the May contract price for the material has increased compared to April by USD40 per ton. In September, the naphtha to Brent price spread remained low at $24 per mt whereas the 2018 annual average was $74 per mt. Higher netback prices to the United States have also been supporting Asian benzene players. As a result, STDP operating rates in the US declined and in turn gave an opportunity to increased benzene imports from Asia. To help listeners stay abreast of changes, new developments and trends in their industry, IHS Markit experts and analysts have contributed to podcasts on timely and thought-provoking topics. The need for higher benzene exports to the US. Benzene has a boiling point of 80.1 °C (176.2 °F) and a melting point of 5.5 °C (41.9 °F), and it is freely soluble in organic solvents, but only slightly soluble in water. A recent report compares benzene prices in different counties to the average national paycheck to locate in which gas absolutely is the most, and least, affordable. Benzene prices have fallen by over 60pc since hitting $740-750/t fob South Korea in January, pressured by the spread of Covid-19 outside China. Styrene and phenol are also expected to come on-stream in the US and. Indonesia, Chandra Asri will complete their naphtha cracker operations remain high supply... For distinct purposes there were major styrene producers experts, analysts and consultants the. 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