Oxo-alcohols Price in India

Asian isomer-grade mixed xylenes rose

– Naphtha rallies $15/mt

– PX jumps $7.42/mt

Asian isomer-grade mixed xylenes rose from Tuesday by $2/mt to $694/mt FOB Korea and at $708/mt CFR Taiwan on Tuesday, tracking rising prices in related markets. A trade source said market participants were still eying exports to the US amid recent price rises there. However, the Asian MX market was quiet Tuesday. In related markets, April ICE Brent crude oil futures rose $1.95/b to $66.78/b at 0830 GMT in Asian trade, while naphtha jumped $15.25/mt to $535.25/mt CFR Japan. Asian paraxylene also increased by $7.42/mt to $1,113.42/mt CFR Taiwan/China.


Isomer-MX was assessed up from Tuesday by $2/mt at $694/mt FOB Korea and at $708/mt CFR Taiwan on Tuesday. The markers take the average of the third and fourth half-month laycans, currently H1 March and H2 March. No bids or offers were registered during the   Market on Close assessment process or heard during the day. The two markers were pegged and assessed up $2/mt based on movements in related markets. The above rationale applies to the following market data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.


Fundamentals remain tight in Europe

European toluene started the week with fundamentals unchanged. The market entered a tight supply environment in January, as production issues in Europe followed the seasonal malaise over the winter holidays. The production difficulties in question for toluene are expected to be resolved by the end of the month, according to sources. Arbitrage opportunities for the toluene market remained shut at the end of last week, with European pricing higher than forward dates seen in the US and in Asia. The Asian market slipped $12/mt on Tuesday to $595/mt FOB Korea and $629/mt CFR China. End-users were in no rush to buy toluene or MX, sources said, as factories were yet to restart following the Lunar New Year holidays. Downstream plastics demand has been a demand-booster globally for toluene, with paraxylene margins through disproportionation of toluene consistently positive. This spread was last seen at $306/mt in Europe on Tuesday. Increased demand was seen in the US on Tuesday, with prices up by 4 cents to 221 cents/gal (around $682/mt). Supply in the US market was also described as tight, matching Europe.


S&P Global CSG assessed the CIF ARA toluene premium over Eurobob gasolineat $185/mt for February on Tuesday, stable from Tuesday. A trader indicated that the market was unchanged, with outright prices in a range of $690-$700/mt. Movement in Eurobob barge swaps for February did not disprove the premium. The March premium was assessed at $182.75/mt, stable from Tuesday with no disproving indications.

Solvent mixed xylene noticed lower

Solvent-grade mixed xylene was assessed $10/mt lower week on week on Friday at $610/mt FOB Korea on lower selling ideas, while demand — particularly from China — remained sluggish due to the Lunar New Year holidays. Many market participants were already absent from the market. Meanwhile, South Korean parcels were moving into Southeast Asia, where margins were better than China, market sources said. In plant news, Korea Petrochemical Industry Co. plans to shut its benzene-toluene-xylene plant in Onsan for about one month of maintenance in April, a market source said. The plant has the capacity to produce 180,000 mt/year of benzene, 70,000 mt/ year of toluene and 40,000 mt/year of solvent-grade mixed xylene. South Korea’s LG Chem is planning to shut its Daesan aromatics plant for 35 days of maintenance in March, a source close to the company said. The plant can produce 24,000 mt/year of solvent-grade mixed xylene, along with 264,000 mt/year of benzene and 54,000 mt/year of toluene. Maintenance at the plant will overlap with the turnaround at the upstream cracker, as previously reported by  . MX inventories in eastern China were heard to be steady at around 61,000 mt. Rationale Solvent-MX was assessed down $10/mt week on week at $600/mt FOB Korea Friday on the back of lower discussions. A deal at $625/ mt FOB Korea was not considered in the assessment as the size was too small. Another producer said $590/mt FOB Northeast Asia might be a workable price, although similarly acknowledged it was not a firm offer. No bids or offers were heard during the  Market on Close assessment process. The CFR China marker was assessed at $620/ mt, unchanged on thin trade and prevailing discussions. The Southeast Asia marker was assessed at $660/mt CFR, reflecting decreases in the broader market. The CFR India marker was assessed at $664/ mt, down $10/mt, based on the freight differential of $64/mt between Korea and India.

Phthalic anhydride prices noticed stable to up

Spot trading activity for Phthalic Anhydride gained traction this week as more buyers in Southeast Asia stepped up their purchase of feedstock ahead of the Lunar New Year. “Spot supply for Phthalic Anhydride in SEA is tight and there is strong demand from buyers who want to buy more to stock up their inventories,” a South Korean producer, who sold eight parcels of PA cargoes totalling over 1,200 mt to SEA buyers this week, said. On the other hand, buying interest for Dioctyl Phthalate was reported stronger as Chinese buyers want to stock up before the commencement of the Lunar New Year festivities this week. “I do not think the DOP market in China has really gotten stronger this week, but rather the strengthening of the Chinese Yuan against the greenback this week has made imported material more palatable to them,” a Taiwanese producer, who sold a cargo to Chinese buyer at $1,050/mt CFR China this week, said. The same Taiwanese producer offered at cargo at $1,050/mt CFR China last week, but there were no takers. On the SEA marker, sellers however, had to lower their offers for DOP in the SEA market to entice buying interest.”We sold two cargoes this week, but we have to lower our price as we are eager to offload these materials before the Lunar New Year,” a South Korean trader, who sold two parcels of DOP to SEA buyers this week, said. RATIONALE: CFR China dioctyl phthalate was assessed up $10/mt week on week at $1,050/mt Friday, based on a trade concluded at $1,050/mt CFR China. The CFR Southeast Asia marker was assessed down $15/mt week on week at $1,210/mt, reflecting two deals done in the range of $1,200-$1,215/mt CFR SEA. Phthalic anhydride was assessed unchanged week on week at $900/mt CFR China, as price discussions were heard at $900/mt CFR China. The SEA marker was up $10/mt on week at $965/mt CFR SEA, based on eight trades concluded at a range of$960-$980/mt CFR SEA. CFR China 2-EH marker was assessed unchanged on the week at $1,035/mt CFR China this week, as price discussion were heard at around $1,035/mt CFR China. The SEA marker was assessed unchanged week on week at $1,075/mt CFR SEA on muted trading. The China and SEA marker for normal butanol was assessed unchanged on week at $910/mt CFR China and$910/mt CFR SEA, respectively, due to a muted market.

Phenol price went up in India

Asian phenol/acetone prices were stable over the week leading up to Friday. While supply was increasing on the restart of plants in East China, turnarounds were also ongoing. Upstream, benzene was assessed up $13/mt on the week at $569/mt FOB Korea Friday, while propylene, another feedstock for phenol/acetone, was assessed unchanged over the same period at $925/mt FOB Korea Friday.

PHENOL: While spot supply for January and February cargoes was thin Friday, demand was also muted, sources said. Selling indications were heard at $1,050/mt CFR China, but a buyer said Friday that with domestic East China prices at Yuan 8,300-8,400/mt, approximately $970-$980/mt CFR China, buyers were unlikely to meet offer levels which they considered “high.” In the domestic market, however, sellers were optimistic about prices over the year. Phenol producers said that with the start up of multiple polycarbonate plants, demand for bisphenol-A was likely to firm, bringing with it demand for feedstock phenol. However, it was also possible that with growing supply of polycarbonate, prices would fall, resulting in narrowing spreads between polycarbonate and phenol. On the other hand, demand for phenol from other downstream segments such as cyclohexanone and caprolactam was thin, owing to narrow price spreads between feedstock and downstream products. CFR China phenol was assessed unchanged on the week at $1,025/mt, while CFR India phenol was assessed stable over the same period at $1,080/mt.

ACETONE: Losses on acetone production continued to be high, with domestic producers estimating around Yuan 300 lost with every metric ton of acetone produced. Acetone’s is typically used for producing methyl methacrylate, but demand from MMA producers have been weak, sources said. CFR China acetone was assessed unchanged week on week at $425/mt, while CFR India phenol was assessed stable over the same period at $465/mt.

Isopropyl Alcohol Price Increased by Shell Chemical

toluene price updates

Shell Chemical will increase US isopropyl alcohol prices by 5 cents/lb effective March 15, the ongoing company said. The company didn’t cite any specific reasons in a letter to customers seen on Tuesday, but Shell does add that the March 15 increases will maintain addition to any previously announced increases for March.

Shell Chemical Joined Others

Shell Chemical substance joins Dow Chemical substance, ExxonMobil Chemical, LyondellBasell and Monument Chemical and with other isopropyl alcohol price suppliers with planned mid-March increases.

Dow Chemical substance, LyondellBasell and Monument Chemical substance are planning to increase US isopropyl alcohol price by 5 cents/lb effective March 15, and ExxonMobil intends to improve prices by 5 cents/lb effective March 11, the firms said in previous letters to customers.

Rising Feedstock

The marketplace has seen pressure from rising feedstock contract pricing and offers tightness, sources have said.
Supply has been referred to as tight over summer and winter on discussions of creation problems and preparations for planned turnarounds.

Feedstock chemical-grade propylene, in addition, has seen the power in the 1st weeks of the entire year, with February agreements settling late the other day near a two-year most of 46.50 cents/lb, 6 up. from January 50 cents.
Supply tightness, feedstock prices pressure US isopropyl alcohol price: sources

Tightness in place availability has maintained strain on the US isopropyl alcohol marketplace, and likely raises in feedstock agreements appear primed to include further pressure, Tuesday sources said.

Rising Demand in America & Europe

Stronger demand in America and Europe, production problems in the next half of this past year and anticipation of the next maintenance in the initial quarter possess combined to restrict place availability, sources said.
Tuesday at 49 US isopropyl alcohol price was assessed.50-50.50 cents/lb ($1,091-$1,113/mt) FOB USG, the best since late November.

“There’s still not really a good deal of extra volume away there,” a distributor said.
Spot prices received minimal rest from lower December feedstock chemical-grade propylene contracts, and objectives for higher January agreements will probably apply further pressure, sources said. We provide daily news and updates on isopropyl alcohol price in India.

December agreements for feedstock chemical-quality propylene declined 4 cents/lb to a nine-month low of 30 cents/lb, but targets for January have needed increases of just as much as 5-7 cents/lb, resources for the reason that market said.

Contract buyers who have a propylene component within their contracts have observed easing in prices this month, but that will be short-lived provided with the January expectations, a source said.

The Substantial Push

“There was a substantial push in the late summertime and early fall to get Isopropyl alcohol price up, and it appears to have organized,” the foundation added.

US Isopropyl alcohol price suppliers and marketers to concern pricing increases in the next half of this past year included ExxonMobil, LyondellBasell, Monument Chemical substance and Dow Chemical, according to letters delivered to customers at that time.