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PX-naphtha spread is compressed obviously, from $179/mt to $141/mt, particularly after Rongsheng Petrochemical announces on October 25 that the Ministry of Commerce has agreed Zhejiang Petroleum & Chemical Co., Ltd., to import 12 million tons of crude oil in 2021 for its Phase II refining and chemic
China PX market was in a lull in Apr. In the lack of a clear direction, PX price tracked the movements of upstream naphtha and downstream PTA. However, the market was still under immerse strain from long supply and demand fundamentals.1. PX-naphtha spread gets narrowed, but operating rate is stableP
In 2009, PX-naphtha and PX-MX spread narrowed from May to Oct. PX-naphtha spread slid from $780/mt in May to less than $240/mt in the beginning of Oct 2009, down a whopping 70%. PX-MX spread shed 80%, from $480/mt to less than $100/mt over the same period. In 2010, the spread continued falling with
