LOS ANGELES
,
April 22, 2022
(Industry Intelligence Inc.)
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Solid demand against limited resin supply and rising production costs brought PE and PP prices up by about US$0.01/lb during the week ended April 15. As PE demand hits tight availability, producers are seeking April contract price increases of $0.06/lb to $0.07/lb. HDPE blow molding saw solid trading domestically, along with exports to Europe and Mexico. LLDPE and LDPE film grades saw average-to-steady sales, while all PE injection grades were difficult to source. A busy PP market also met tight supply owing to yet another force majeure, along with rail transit issues. Three producers have announced aims to hike contract prices by $0.06/lb in May. The primary source of this information is Plastics Today. Taiwan-based CPC Corp. declares force majeure on isomer mixed xylenes and toluene cargoes for April. The company earlier announced it would shut two aromatics units due to a positive coronavirus case. The No. 3 aromatics unit has capacity for 25,000 tonnes/year of benzene, 136,000 tonnes/year of toluene and 150,000 tonnes/year of mixed xylenes, according to industry sources. The No. 7 unit has capacity of 208,000 tonnes/year of benzene and 104,000 tonnes/year of toluene. Toluene was assessed at US$1,065/tonne FOB Korea as of April 18, up $20 over April 17. Meanwhile, PX prices were up $12.83 day-on-day at $1,213.33/tonne. The primary source of this information is S&P Global Platts. Asia Naphtha Naphtha prices were assessed at US$983.75/tonne C+F Japan on April 18, following higher crude prices. Buying activity for Asian naphtha for H1 delivery was expected active in the week started April 18. Market sources say improved demand is owing to healthier margins for naphtha-based ethylene producers. Meanwhile, the Russia-Ukraine war is still creating a volatile market, leaving sentiment relatively unchanged. The primary source of this information is S&P Global Platts.
US Resins
Taiwan Aromatics
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