วันอังคารที่ 8 พฤศจิกายน พ.ศ. 2554


Because of the Hari Raya Haji holiday in Singapore there were no daily aromatics, MTBE, biofuels, olefins or polymer assessments in Asia overnight.
This morning in Europe benzene prices were heard offered higher. Benzene for November was heard bid at $930/mt and offered at $955/mt CIF ARA. The price on November 4 was assessed at $932.50/mt CIF ARA. The December benzene price in Europe this morning was heard bid at $960/mt and offered at $990/mt CIF ARA. On November 4 the Asian benzene price was the highest globally at $1,000/mt FOB Korea. The US price was assessed at $947.80/mt FOB USG. (See chart 1)
The Asian toluene price on November 4 surged to $1,128/mt FOB Korea. The assessment was $83 above the US price, which was assessed November 4 at $1,045/mt FOB USG. The European toluene price was assessed November 4 at $1,067/mt FOB Rdam. (See chart 2)
In the mixed xylene market November 4, Asian prices climbed to $1,208/mt FOB Korea. The price remained sharply higher than the US price, presenting potential arbitrage opportunities. The US price was assessed November 4 at $1,072/mt FOB USG. (See chart 3). Vessel space to Asia, however, was still heard to be very tight.
Asian paraxylene also climbed on November 4 with the assessment at $1,450/mt CFR Taiwan/China. The Asian price was more than $100 above the US price, which was assessed Friday at $1,342.50/mt FOB USG. The US price assessment November 4 was at a slight premium to the European price, which was assessed at $1,341/mt FOB Rdam. (See chart 4)
The US styrene price was the lowest globally on November 4, assessed at $1,223/mt FOB USG. The European styrene price for December was assessed November 4 at $1,290/mt FOB Rdam. This morning in Europe, styrene bids for December were heard lower at $1,270/mt, while offers were at $1,300/mt FOB Rdam. The European styrene market was steeply backwardated, with H2 November this morning pegged between $1,365 and $1,400/mt FOB ARA. The spot November-December backwardation in Europe steepened to $125/mt Friday on a backlog of buyer nominations for prompt November barges as a consequence of supply bottlenecks. The Asian styrene price for H2 December was assessed November 4 at $1,275/mt FOB Rdam. (See chart 5)

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