The Operating Rates of Toluene And Mixed Xylenes Dropped But Then Rebounded During Oct-Nov

The operating rates of toluene and mixed xylenes dropped but then rebounded during Oct-Nov. During late Nov to Dec, CNOOC Daxie and Sinopec Fujian are poised to complete maintenance and restart, while CNPC Guangxi plans to shut for maintenance. With capacity restarts outpacing maintenance, plant operating rates are anticipated to further increase.

Sinopec INEOS (Tianjin Nangang)' new cracker and Yulong Petrochemical's fresh reformer have started production, and Yulong is slated to start its new cracker in end-Nov, contributing increase in production. In Nov, the amount of toluene cargoes arriving at East China is large, and tank inventory at coastal regions has increased slightly. However, shipments of MX to East China were limited, as imported MX cargoes reduced and consumption of MX at PX plants increased.