As for PX, though the tight supply continues, trading in the market centers on Oct and Nov goods, and the supply and demand situation could change with upcoming new plants. Dongying Weilian is expected to start its Phase II PX plant in mid-Oct, Shenghong Refining also plans to to start its new 2 mil Read More

In terms of imports, according to the latest news, China monthly PX imports in Jul could hit new low since Dec 2012, amounting to about 600kt. The imports could increase in Aug, as South Korea’s S-Oil has restarted its plant and cargoes from Asia to US reduces. However, other plants would hardly rai Read More

On supply front, Sinopec ZRCC is going to conduct maintenance on its 750kt/yr PX plant in end-Aug for 90 days, Fuhaichuang is preliminarily expected not to restart one 800kt/yr PX line until late Sep and the restart date of the other line is undecided. In addition, some plants running at reduced O/R Read More

In terms of profits, though PX-naphtha spread hovers high, PX-MX spread stands at medium or low level. PX-MX spread on FOB Korea basis broke $100/mt temporarily in end-Jul, but then fell back to $80/mt, barely above breakeven line. The spread on yuan basis has recovered from negative in early Jul, b Read More

China PX inventory has been reducing continuously, shedding more than 800kt throughout the first 7 months of 2022 according to CCFGroup’s statistics. Domestic PX supply remains tight, especially when some imported cargoes are delayed. Several domestic PTA plants are under strains from lack of feedst Read More

Based on current estimate, the orderly electricity consumption will not last long, mainly 1-7 days. DTY market will be affected the most, followed by fabric manufacturing market and chip-spun field, and the polymerization sector will be the least impacted. The influence on demand side will be bigger Read More