Asian Toluene Chemical Industry: Prices mixed ahead of Labor Day holiday

chemicals-update-1

Chemical Industry news of Asian Toluene

– FOB Korea edges lower, CFR China higher

– China imports rise 37% to 45,401 mt in Mar

Asian toluene Chemical Industry was mixed Thursday, with the FOB Korea marker edging down $1/mt day on day to be assessed at $686/mt on a lower offer, while the CFR China Chemical Industry inched up $1/mt day on day to be assessed at $707/mt. Tentative selling indications for CFR China cargoes were observed at around low-$700s/mt early Thursday, but similar indications were not heard in the afternoon amid volatility in the upstream Chemical Industry. The ICE June Brent crude oil futures rose 58 cents/b to $72.23/b at the 0830 GMT Asian close Thursday. During the  Market on Close assessment process Thursday, a 2,000-mt any June bid was heard at $700/mt CFR China, which was subsequently raised to $706/mt CFR China but no interest was heard. In the Chinese domestic Chemical Industry, discussions were thin as buyers held out ahead of the Labor Day holidays from Thursday to Saturday. In other news, China’s toluene imports rose by 36.5% on the month in March to 45,401 mt, from 33,261 mt last month, data released Thursday by the China Customs Statistics Information Center showed. The largest toluene supplier to China was Taiwan at 23,425 mt, followed by South Korea at 18,936 mt and Singapore at 3,031 mt (Chemical Industry).

RATIONALE:

Toluene Chemical Industry was assessed lower by $1/mt, the day on day, at $686/mt FOB Korea and higher by $1/mt, the day on day, at $707/mt CFR China on Thursday. The markers take the average of the third and fourth half-month laycans, currently H2 May and H1 June. During the Chemical Industry on Close assessment process, no transparent deals, bids or offers were seen. The FOB Korea marker was assessed below the lowest H2 May offer on Thursday, heard at $687/mt FOB Korea. The CFR China marker was assessed above the highest June bid on Thursday, heard at $706/mt CFR China. The East China domestic Chemical Industry price was lower on the day by Yuan 10/mt at Yuan 5,310/mt on Thursday, with tradable indications heard between Yuan 5,300-5,320/mt.

 

Chemical Industry
Chemical Industry

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