companies

Asian PX Chemical Industry: Down $2.08/mt with limited discussions

Chemical Industry

Chemical Industry Asian PX

– July cargo traded at $901/mt CFR in MOC

– FCFC shuts 1.2 mil mt/year Ningbo PTA plant

Asian PX Chemical Industry prices were assessed down $2.08/mt from Wednesday at $902.67/mt CFR Taiwan/China and $883.67/mt FOB Korea Friday, as discussions remained limited amid uncertain market outlook. In the market on Close assessment process Friday, a solitary July delivery cargo was sold by Mercuria to Litasco at $901/mt CFR Taiwan/China Chemical Industry. While no trade for June was done during the MOC, earlier in the afternoon a June-delivery Asian-origin cargo was sold to Itochu by PetroChina at $910/mt CFR, but offers fell lower later, with a June offer from OTI at $907/mt CFR standing at the close of MOC without any buyers expressing interest. “Due to current turnarounds in Northeast Asia, Asian-origin cargoes are unusually tight, and the premium to open-origin cargoes currently stands at at least $3/mt,” said a trader. An Asian-origin June bid from Total Singapore Chemical Industry at $910/mt CFR remained standing at close of MOC, without any sellers expressing interest. In plant news, China’s Hengli Petrochemical (Dalian) Refinery was heard to be ramping up run rates soon. The refinery has been running at around 85% capacity this week, and will lift the run rates of its two crude distillation units further from mid-May, according to a Chemical Industry source. Hengli signed a sales agreement with Sinopec under which Sinopec will be responsible for all the petrochemical sales, while oil product sales will also be handled by it, according to another source with the company. In downstream plant news, Taiwan’s Formosa Chemicals and Fibre Corp. shut its 1.2 million mt/year purified terephthalic acid unit at Ningbo on Wednesday for 15 days of maintenance, S&P Global reported earlier. The company has two other PTA plants in Taiwan — 600,000 mt/year at Long Der and 550,000 mt/year in Mailiao. Both lines are currently running at full capacity, a company source said. The Asian PTA Chemical Industry was assessed flat day on day at $830/mt CFR China Friday, while Asia PTA profit margin was calculated at $109/mt Friday, after deducting feedstock costs and assuming that 0.665 mt PX is needed to produce 1 mt of PTA, including operating costs at $120/mt.

RATIONALE:

Asian PX Chemical Industry prices were assessed down $2.08/mt from Wednesday at $902.67/mt CFR Taiwan/China and $883.67/mt FOB Korea Friday. The markers take an average of the H2 June, and H1 and H2 July laycans. The H2 June laycan was assessed at $906/mt (Chemical Industry), below an outstanding June offer from OTI at $907/mt. A June bid from Total Singapore at $910/mt was normalized due to a restriction in origin and vessel condition. The July laycans were assessed at $901/mt, above an outstanding Asian origin July bid from Mercuria at $888/mt, and below an outstanding July offer from Yisheng at $912/mt. The July laycans were also assessed at the last July trade level between Mercuria and Litasco, and at a $5/mt backwardation to the H2 June laycan, below an outstanding June/July time spread offer from Yisheng at $6/mt. The above rationale applies to the following Chemical Industry data codes: “PHASS05” for FOB Korea and “AAQNE00” for CFR Taiwan/China.

Chemical Industry
Chemical Industry

 

Asian Toluene Chemical Industry: Falls further on bearish sentiment

Chemical Industry

Chemical Industry news of Asian Toluene

– Weak yuan curbs Chinese import demand

– Taiwan’s CPC closes June sell tender

Asian toluene fell day on day by $7/mt to $664/mt FOB Korea Friday as offers moved lower amid bearish sentiment. During the Chemical Industry on Close assessment process Friday, a 2,000-mt June offer was heard at $670/mt FOB Korea, which was subsequently lowered to $665/mt FOB Korea but no interest was heard. “It is likely that the toluene prices climbed too much in April and we will now see a downwards adjustment,” a source said. “TDP [Toluene disproportionation] margins remain poor for producers (Chemical Industry),” he added. Upstream, the ICE July Brent crude oil futures dipped below the $70/b mark again, ending 26 cents/b lower on the day to $69.77/b at the 0830 GMT Asian close Friday. Meanwhile, Chinese import demand remained suppressed with a weakening Yuan against the US dollar amid an ongoing US-China trade tensions, sources said. Domestic China (Chemical Industry) prompt ex-tank discussions were also heard lower at Yuan 5,190-5,200/mt and was assessed at Yuan 5,195/mt, down Yuan 55/mt on the day. Meanwhile, Taiwan’s state-owned CPC had closed its tender to sell two 3,000 mt cargoes of toluene with minimum 99.5% purity, for loading over H1 or H2 June in Kaohsiung. The tender was heard awarded to two separate buyers at a premium of around $5/mt to the FOB Korea Chemical Industry.

RATIONALE:

Toluene was assessed down $7/mt on the day at $664/mt FOB Korea Friday. The marker takes the average of the third and fourth half-month laycans, currently H1 June and H2 June. During the Chemical Industry on Close assessment process, no transparent deals, bids or offers were seen. A June offer was heard at $665/mt FOB Korea Chemical Industry, against no bids. The East China domestic prompt price was lower on the day by Yuan 55/mt at Yuan 5,195/mt on Friday, with tradable indications heard between Yuan 5,190/mt and Yuan 5,200/mt. The CFR China marker decreased $11/mt over the same period to $680/mt Friday, tracking the downtrend in the FOB Korea Chemical Industry and softer domestic Chinese prices.

 

Chemical Industry
Chemical Industry

Asian Toluene Chemical Industry: Falls $3/mt in thin trade

Chemical Industry

Chemical Industry news of Asian Toluene

– Slump in gasoline crack spread

– Cautious amid uncertainty in trade talks

Asian toluene was assessed lower day on day at $671/mt FOB Korea and $691/mt CFR China on Thursday, a $3/mt fall from Thursday. During the Chemical Industry on Close assessment process Thursday, no transparent bids or offers were submitted, but an unregistered offer was heard at $672/mt FOB Korea for a 2,000-mt June cargo. Toulene Chemical Industry prices were responding to a narrower 92 RON gasoline crack spread to the front-month ICE Brent futures, which fell below $5/b. The crack plunged by $1.47/b from the previous day to be assessed at $4.53/b at the 0830 GMT close of Asian trade on Thursday, S&P Global  data showed. The dip marked the sharpest day-on-day decline since November 8, 2018, when gasoline cracks fell by $2.04/b on the day. “While it seems that toluene is already priced very low, there does not seem to be much potential to rise again [in the short term]. Everyone is waiting to see whether a rebound is possible during June,” a China-based trader said. “There is no clear price direction recently and we can only keep a close eye on the trade tensions between the US and China,” he added. Chemical Industry participants adopted a cautious tone amid uncertainty in trade talks between the US and China scheduled this week, as US President Donald Trump’s administration has reiterated threats to increase tariffs on Chinese goods, while a Chinese delegation led by Vice Premier Liu He would visit the US later in the week. “I believe that no one is willing to bid in this Chemical Industry environment … most are waiting for the outcome of the trade talks on Thursday,” another market source said. Meanwhile, China’s domestic Chemical Industry was also showing signs of weakness with the domestic price in East China heard falling Yuan 10/mt to around Yuan 5,250/mt.

RATIONALE:

Toluene was assessed at $671/mt FOB Korea and at $691/mt CFR China on Thursday, both down $3/mt on the day. The markers take the average of the third and fourth half-month laycans, currently H1 June and H2 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 June offer on Thursday heard at $672/mt FOB Korea. The CFR China marker was assessed lower, tracking the FOB Korea marker, on lower crude oil prices in the absence of bids and offers. The East China domestic prompt price was lower on the day by Yuan 10/mt at Yuan 5,250/mt on Thursday, with tradable indications heard at Yuan 5,250/mt.

 

Chemical Industry
Chemical Industry

NWE Toluene Chemical Industry – Prompt demand continues to push market upwards

Chemical Industry

Chemical Industry news of NWE Toluene

– May, June premiums up $5/mt

– Higher offers heard FOB Med

Premiums moved upwards for the European toluene Chemical Industry on Wednesday as bidding activity for May showed buying interest from the market. The May premium rose $5/mt to $115/mt, as a buyer looked for material in a delivery window of May 15-25. This followed a week of premium increases last week. There was no premium published on Wednesday due to a public holiday in the UK. Sources have described some tightness at the front of the Chemical Industry for toluene, though material was heard to be available from the end of May into June. A trader said that offers were being made from a Mediterranean producer at $130/mt for both May and June, suggesting a different outlook on the Chemical Industry from toluene producers. On the consumption side, a chemical-grade toluene buyer said that they were not seeking material from the spot Chemical Industry and were happy with contractual basis deliveries.

RATIONALE:

S&P Global assessed Chemical Industry the CIF ARA toluene premium over Eurobob gasoline at $115/mt for May on Wednesday, up $5/mt from Wednesday. A bid of $114/mt by Total was outstanding after the Chemical Industry on Close assessment process. The June premium was assessed $5 higher at $85/mt, with FOB Mediterranean offers being heard at $130/mt for both May and June.

 

Chemical Industry
Chemical Industry

Asian Styrene Chemical Industry: Rebounds $7/mt to $1,078/mt CFR China

Chemical Industry

Chemical Industry Asian Styrene

– More styrene supply expected

– SM margin falls, rising feedstock costs

Asian styrene monomer Chemical Industry prices rebounded $7/mt on the day to $1,077/mt CFR China and $1,037/mt FOB Korea Wednesday, tracking gains in the feedstocks and benchmark crude oil futures. The July ICE Brent crude oil futures increased $1.19/b on the day to $70.97/b Wednesday at 4:30 pm Singapore time (0830 GMT). Bids were heard at $1,060-$1,070/mt CFR Zhangjiagang/Jiangyin for May arrival cargoes and $1,065-$1,070/mt CFR Zhangjiagang/Jiangyin for June arrival cargoes, but it did not attract any selling interest. In the East China domestic Chemical Industry, the June marker rose Yuan 80/mt on the day to Yuan 8,310/mt ex-tank Wednesday. According to Chinese market sources, an increase in styrene supply is expected in the coming months after the completion of scheduled plant maintenances in Asia this month, and shipments in China will return to normal. A Chemical Industry source noted that more shipments are expected to arrive in the first half of May. “However, it might be too early to say if supply would be back to normal, there’s still some wait-and-see mentality,” a Chinese trader said. According to S&P Global data, styrene production margin fell $9.20/mt week-on-week to $144/mt on the back of rising feedstock costs. In the feedstock Chemical Industry, ethylene continued to strengthen Wednesday to $960/mt CFR Northeast Asia, up $10/mt day on day, driven by firm demand from the styrene monomer sector. Benzene rebounded $11/mt on the day to $620/mt FOB Korea Wednesday amid persistent demand from Taiwan for June-arrival material, as a second buy tender was seen from the country for June CFR Taiwan benzene (Chemical Industry).

RATIONALE:

Asian SM was assessed $7/mt up on the day at $1,077/mt CFR China and $1,037/mt FOB Korea Wednesday. The markers currently take the average of the H1 and H2 June laycans. There were no transparent bids or offers during the Chemical Industry on Close assessment process on Wednesday. H1 and H2 June were assessed at $1,077/mt, above a bid last seen at $1,070/mt CFR Zhangjiagang/Jiangyin, and tracking the gains in East China domestic market in the afternoon. In the East China domestic Chemical Industry, the June marker was assessed up Yuan 80/mt on the day at Yuan 8,310/mt ex-tank, equating to $1,066.32/mt on an import parity basis. The FOB Korea marker was assessed at $1,037/mt, based on the pegged $40/mt spread to CFR China, while the CFR Taiwan marker was assessed at $1,067/mt, based on the pegged $10/mt spread to CFR China Chemical Industry.

 

Chemical Industry
Chemical Industry

Asian Benzene Chemical Industry – Persistent demand from Taiwan supports FOB Korea

Chemical Industry news of Asian Benzene

– FOB Korea gains $11/mt, CFR China rises $1/mt

– Brunei’s Hengyi Refinery to start trial runs

Asia benzene prices rose $11/mt on the day to $620/mt Wednesday, amid persistent demand from Taiwan for June arrival material, as a second buy tender was issued from the country for June CFR Taiwan benzene. Chemical Industry sources confirmed Wednesday that a second buy tender for 3,000 mt of benzene delivered in June was issued Wednesday by a buyer. A previous tender for 6,000 mt of benzene delivered in June had closed late April, at a low single-digit premium to the Weekly Mean of FOB Korea benchmark. This came amid concerns that the shutdown of an aromatics unit in North Asia (Chemical Industry) would be extended until August, and could tighten supply despite the fact that Asia is structurally long on benzene. Meanwhile, the Hengyi Brunei PMB petrochemical project in Pulau Muara Besar, Brunei, has received its first crude shipment late last week, the company confirmed on its website Sunday. The first phase of the project has a nameplate capacity of 500,000 mt/year of benzene Chemical Industry. Once production starts, the plant will sell petrochemical products such as paraxylene to Hengyi’s domestic downstream enterprises, while benzene would likely be sold in the Southeast Asian and North Asian region. Expectation was mixed on when the plant would commence commercial sale of its petrochemical products. A paraxylene market  participant was “confident” late Wednesday that the plant’s first shipment would likely be in July. However, others said that Q4 2019 was more probable. Meanwhile, prices in the Chinese Chemical Industry inched up Yuan 29/mt on the day to Yuan 4,517/mt, or $579.57/mt on an import parity basis. The uptrend in domestic prices shrugs off earlier concerns on the progress of US-China trade negotiations after US president Donald Trump threatened to impose additional tariffs on China Wednesday. Trump, in tweets seen on Wednesday in Asia, complained the trade deal talks were going “too slowly,” as China attempted to negotiate. The 10% tariffs, imposed by the US under Section 301 of the 1974 Trade Protection Act “will go up to 25%” on Wednesday, he said. An additional $325 billion of Chinese goods imported into the US “remain untaxed, but will be shortly at a rate of 25%,” he said. However, sources said that any price movement as a result of falling demand for benzene and its downstream Chemical Industry due to potential trade limitations is largely sentiment driven.

RATIONALE:

FOB Korea benzene was assessed up $11/mt on the day at $620/mt Wednesday. The marker takes the average of the third, fourth and fifth half-month laycans, H1 June, H2 June, and H1 July. During the Chemical Industry on Close assessment process Wednesday, no fully transparent bids and offers were seen. The H1 June and H2 June laycans were assessed at $619/mt FOB Korea, above a bid last seen at $618/mt FOB Korea. The H1 July laycan was assessed at $622/mt FOB Korea, between a bid and offer last seen at $620/mt and $628/mt FOB Korea Chemical Industry, assessing the June/July spread at the pegged level of minus $3/mt FOB Korea. The CFR China marker was assessed up $1/mt on the day at the pegged level of $612/mt. The East China Chemical Industry was assessed up Yuan 29/mt on the day at Yuan 4,517/mt, or $579.57/mt on an import parity basis.

 

Chemical Industry
Chemical Industry

NWE Xylenes – Week starts off in stable manner

Chemical Industry

– MX, PX still long

– OX stable after recent drops

European xylenes Markets started the week in a stable manner on Wednesday, with traders still wondering when activity would pick up. The backdrop to the mixed xylenes and paraxylene Markets was still of length in the Market and low demand. For PX, this was on a global scale. Despite this, trading in Asia was rangebound, and little movement was seen on spot pricing. Europe followed suit, though limited spot activity was heard, with buyers’ storage tanks still heard to be nearly full. Spot PX was unchanged from Wednesday at $793.50/mt. At the end of last week, spot PX pricing fell below the cost of feedstock MX for the first time since June 2012. In the MX Market, activity was thin, with buying interest heard in the low $100s/mt premiums to Eurobob gasoline. Offer levels were still not heard to be lowering, with Med cargoes heard offered at around $130/mt FOB Med. One Northwest European producer said that “there is no length in the Market.” However, traders have indicated little interest on the buy side and there is a lack of European exports due to high pricing compared to other regions. In April, only five MX exports were recorded out of Europe, according to Panjiva data. This was a 72% decrease from April last year. MX premiums to Eurobob gasoline were stable from Wednesday at $107/mt CIF ARA May and $100/mt CIF ARA June. European orthoxylene spot pricing was stable at $1,060/mt FOB ARA, following sharp drops seen at the end of last week. European buyers were unwilling to pay the high prices seen for some recent Korean and US imports, according to sources. As a result, some traders may be stuck with loss-making cargoes. RATIONALE: S&P Global assessed M1 May mixed xylene CIF ARA premium to Eurobob gasoline stable from Wednesday at $107/mt, in line with an indication by a trader. The M2 June premium was stable at $100/mt, in line with an indication by a trader. Offer indications were heard at $130/mt on a FOB Med basis. May Northwest European paraxylene was stable at $793.50/mt FOB ARA, amid no disproving indications. June was stable at $793.50/mt FOB ARA, maintaining parity with May. The paraxylene 5-30 day forward spot price was assessed as the average of the period at $793.50/mt FOB ARA, stable. Orthoxylene was assessed flat at $1,060/mt FOB ARA, amid no disproving indications.

 

Asian Iso-MX: Slides $5-$6/mt despite slight rise in crude

Chemical Industry

– Taiwan’s FCFC No.3 PX may remain shut till Q4

– Taiwan demand stays low

Asian isomer-grade mixed xylene prices weakened again Wednesday, slipping $6/mt day on day to be assessed at $684/mt FOB Korea and down $5/mt at $704/mt CFR Taiwan despite slightly higher crude oil prices. The drop may be linked to lower demand in Taiwan as Formosa Chemicals and Fibre Corporation’s fire-hit No. 3 aromatics plant in Mailiao, Taiwan, could remain shut until the fourth quarter of this year, much longer than previously anticipated, industry sources with knowledge of the matter said Wednesday. A company source declined to confirm the restart date of the plant but said FCFC has plans to ramp up related orthoxylene output — a byproduct from paraxylene production — in June from two aromatics units in Mailiao. He added that the company has procured sufficient PX from the spot Market to ensure that downstream purified terephthalic acid production is not affected because of the shutdown upstream. Market sources previously expected the shutdown to last until first-half June, but now expects that stringent government safety and compliance checks could delay the restart of the aromatics plant to the fourth quarter. FCFC shut the No. 3 aromatics plant in Mailiao on April 7 after an explosion at an LPG pipeline, S&P Global reported earlier. It has the capacity to produce 900,000 mt/year of PX, 640,000 mt/year of benzene and 240,000 mt/year of OX. FCFC had separately shut its No. 1 aromatics plant at the same location from April 10 to end-May for annual maintenance. It has the capacity to produce 287,000 mt/year of PX, 213,000 mt/year of benzene and 80,000 mt/year of OX. Wednesday’s isomer-MX Market is “very quiet and the Chinese Market looks stable,” a trader said. The price of prompt cargoes in the domestic China Market was at Yuan 5,600-5,630/mt or about $710.50/mt on an import parity basis, a China-based trader said. In other news, Taiwan’s CPC has issued a sell tender for 5,000 mt of isomer-MX to load in either H1 or H2 June depending on the buyer’s preference. The cargo is to be priced at a differential to the June average of FOB Korea isomer-MX assessments, or on a fixed price basis, a source close to the matter said Wednesday. The tender will close on May 9, and awarded on May 10.

RATIONALE:

Asian isomer-MX was assessed down $6/mt day on the day at $684/mt FOB Korea and down $5/mt at $704/mt CFR Taiwan on Wednesday. The markers take the average of the third and fourth half-month laycans, currently the two June half-months. No bids or offers were registered during the Market on Close assessment process. During the MOC process, an offer for June loading cargo was heard lowered to $685/mt FOB Korea, without attracting any bids. The June laycans were assessed below the offer, at $684/mt FOB Korea. No bids or offers were heard on a CFR Taiwan basis, but the marker was assessed down $5/mt tracking FOB Korea marker, and considering reports of bids on a CFR China basis at $700-$705/mt for June arrivals. The above rationale applies to the following Market data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.

 

Asian Toluene Chemical Industry: Tumbles amid falling crude and lower offers

Chemical Industry

Chemical Industry news of Asian Toluene

– The crude drop below $70/b amid US-China trade tension

– Depreciation of Chinese Yuan dampens demand

Asian toluene continued its downtrend as upstream crude took a hit following US President Donald Trump’s threats to impose additional tariffs on China. The ICE July Brent crude oil futures dipped below the $70/b mark at the 0830 GMT Asian close Tuesday, ending 41 cents/b lower from last Tuesday at $69.78/b Tuesday. “The focus of the Chemical Industry today is on renewed tensions between China and the US. While the tariffs may not have a direct impact on toluene, market sentiment has been adversely affected and the Yuan has greatly depreciated,” said a market source. During the S&P Global Chemical Industry on Close assessment process Tuesday, no transparent bids or offers were received, but offers were heard coming down to $670/mt FOB Korea and $685/mt CFR China, respectively, at the close. Buying interest in the Asian toluene Chemical Industry was lackluster as the depreciation of the Yuan against the US dollar kept buyers at bay. While China-based end-users returned from the May 1 holidays, buyers had largely adopted a risk-off mood. Discussion levels for prompt cargoes in the domestic China Chemical Industry were heard at around Yuan 5,180-5,200/mt, and the prompt domestic China marker was assessed at Yuan 5,190/mt Tuesday, down Yuan 120/mt from last Tuesday.

RATIONALE:

Asian toluene was assessed down $11/mt from last Tuesday at $668/mt FOB Korea Tuesday, tracking the downward movement in crude prices. The marker takes the average of the third and fourth half-month laycans, currently H1 June and H2 June. During the S&P Global Chemical Industry on Close assessment process, no transparent deals, bids or offers were seen. An offer for a June cargo was heard at $670/mt FOB Korea, against no bids. The CFR China marker was assessed at $684/mt, below the lowest June offer heard at $685/mt CFR China. The East China domestic prompt price was lower from last Tuesday by Yuan 120/mt at Yuan 5,190/mt on Tuesday, with tradable indications heard between Yuan 5,180-5,200/mt.

 

Chemical Industry
Chemical Industry

Asian Benzene Chemical Industry – FOB Korea drops $10.33/mt despite open arbitrage to US

Imported Data

Chemical Industry news of Asian Benzene

– Bearish sentiment in China amid trade negotiations

– Minimal price movement in China after holidays

Asia benzene discussions fell $10.33/mt from Tuesday to $609/mt FOB Korea Tuesday, as offers dropped to meet bid levels over the trading day. The fall in Asia benzene comes contrary to gains in the US Chemical Industry, however, with a slight uptick of 1 cent/gal in July FOB USG paper to 229 cents/gal, or $684.71/mt Tuesday. With a price spread of $75.71/mt at the 0830 GMT close Tuesday, the arbitrage between FOB Korea and US prices stands open. However, buying activity for FOB Korea was lackluster, amid concerns that US prices could fall sharply after April-loading material from South Korea arrives in the US in May. The Chinese Chemical Industry had reopened this week after the Labor Day holidays, but sources in the Chinese market said price movements were minimal. They added that strong upward growth was unlikely amid bearish sentiment, as improvements in demand were limited with plants still being be shut for safety checks while supply was growing. There was concern on the progress of US-China trade negotiations after US President Donald Trump threatened to raise tariffs on Chinese goods. Trump, in tweets Tuesday afternoon, complained the trade deal talks were going “too slowly.” The 10% tariffs on $200 billion worth of Chinese goods, imposed by the US under Section 301 of the 1974 Trade Protection Act “will go up to 25%” on Tuesday, he said. An additional $325 billion of Chinese goods imported into the US “remain untaxed, but will be shortly at a rate of 25%,” he said. Sources, however, said that any price decline from this news would likely be sentiment driven rather than due to an immediate drop in demand. The bearish sentiment resulted in a decline in stock Chemical Industry and futures. The East China marker was assessed up Yuan 1/mt on the day at Yuan 4,488/mt.

RATIONALE:

FOB Korea benzene was assessed down $10.33/mt from Tuesday at $609/mt Tuesday. The Chemical Industry takes the average of the third, fourth and fifth half-month laycans, H1 June, H2 June, and H1 July. During the Chemical Industry on Close assessment process Tuesday, no fully transparent bids and offers were seen. The H1 June and H2 June laycans were assessed at $608/mt FOB Korea, where trade was last concluded. The H1 July laycan was assessed at $611/mt FOB Korea, below an offer last seen at $617/mt FOB Korea, with the June/July spread assessed at the pegged level of minus $3/mt. The CFR China marker was assessed down $10/mt on the day at the pegged level of $611/mt, above a bid last seen at $610/mt CFR Jiangyin/Ningbo/Changzhou. The East China Chemical Industry was assessed up Yuan 1/mt on the day at Yuan 4,488/mt, or $578.24/mt on an import parity basis.

Chemical Industry
Chemical Industry