The benzene to naphtha spread (margins) reduced from $225 per mt in August 2018 to $51 per mt in March 2019 caused by the increase in benzene imports to China which resulted in an increase in China’s benzene inventory. The benzene to naphtha spread increased to $210 per mt, its highest since August 2018 and recovering from a low of $41 per mt in April. On the other hand, in 2018, there were major styrene, phenol and caprolactam turnarounds and benzene demand was lower than expected. DUBLIN, Feb. 27, 2019 /PRNewswire/ -- The "Benzene: 2019 World Market Outlook and Forecast up to 2023" report has been added to ResearchAndMarkets.com's offering.. Get ahead of Interbank Offered Rate (IBOR) benchmark reform, California Do Not Sell My Personal Information. Although relatively smaller, Pengerang Refining and Petrochemical (RAPID) Malaysia will also start naphtha cracker operations soon and has already started its refinery operations. In the rest of the world, gas prices tend to be higher, but the nominal price of benzene isn’t an indicator of benzene prices in a given country. Reference price of Benzene is 645.805USD/MT, up 0.12% from 645.013USD/MT on 2020-12-30. It is a toxic, colorless crystalline solid which is commonly used as a disinfectant and antiseptic. To help listeners stay abreast of changes, new developments and trends in their industry, IHS Markit experts and analysts have contributed to podcasts on timely and thought-provoking topics. Benzene has a boiling point of 80.1 °C (176.2 °F) and a melting point of 5.5 °C (41.9 °F), and it is freely soluble in organic solvents, but only slightly soluble in water. 5.1. The need for higher benzene exports to the US. Ethylbenzene Market - Growth, Trends, and Forecast (2020 - 2025) The market is segmented by Application (Styrene, Gasoline, Diethylbenzene, Natural Gas, Paint, and Asphalt and Naptha), End-user Industry (Packaging, Electronics, Construction, and Agriculture), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa) Customers around the world rely on us to address strategic and operational challenges. The benzene to naphtha spread (margins) reduced from $225 per mt in August 2018 to $51 per mt in March 2019 caused by the increase in benzene imports to China which resulted in an increase in China’s benzene inventory. Ethylene margins were robust for a long time since 2015 to mid-2018. In addition, the No. Join a global business leader that is dedicated to helping businesses make the right decisions. A global team of industry-recognized experts contributes incisive and thought-provoking analysis. Low benzene margins, therefore, became an issue. Key Companies In The Benzene … Thereafter through the year, benzene production was high from paraxylene integrated reformer/TA plants and naphtha cracker operations. Broaden your knowledge by attending IHS Markit events that feature our subject-matter experts. Benzene Market Prices Forecast Up To 2019 6. Intratec provides Cumene pricing data, covering 13 years of historical prices and forecasts. Uses of benzene. Here is the revised price of the different types of fuel/gas. In the meantime, the robust Asian styrene market continues to support the Asian market as well. IHS Markit is the leading source of information and insight in critical areas that shape today's business landscape. Less than 1… https://t.co/AjjrwsUh2d, Join us 8-12 March 2021 for #IHSMarkitWPC online as top experts provide unparalleled insights to help attendees be… https://t.co/jfqhvSGH0E, Get a unique view of existing #petrochemical capacity along with real start-up data with our global #chemical asset… https://t.co/ByCcEfaXpg, Copyright © 2020 IHS Markit. Benzene inventory increased from 140 kt at the beginning of last November to 251 kt at the beginning of March this year. However, STDP operators in US have been cautious in increasing their operating rates. In Southeast Asia, Chandra Asri continues to operate two styrene plants after starting a turnaround of their naphtha cracker from the beginning of August for 60 days. Consequently, the Asian benzene balance has improved, resulting in Asian prices closing the gap on US and Europe prices to the September monthly average of $701 per mt FOB South Korea. Higher benzene demand from Europe, the United States and Asia have resulted in Asian benzene market recovery. The Ethiopian Ministry of Trade and Industry has announced revised retail prices for fuel, effective from today May 8, 2019. US Benzene Prices were assessed at $2.75 – 2.83 / gal FOB (free on board) in mid June 2015. 2020-12-30 Reference price of Benzene is 645.013USD/MT, down 0.37% from 647.386USD/MT on 2020-12-29. Sustainability drives the entire IHS Markit enterprise. Higher netback prices to the United States have also been supporting Asian benzene players. December 15, 2020. Benzene plant operation round-up (Dec 31, 2020) Jan 4 2021 8:24AM : Benzene market daily (Dec 31, 2020) Dec 31 2020 4:45PM : China-Europe freight train number via Xinjiang port hits new high: Dec 31 2020 4:04PM : China's manufacturing PMI hits 51.9 in December: Dec 31 2020 4:03PM IHS Markit estimates that worldwide benzene demand will decline by about 2%, depending on the methodology used, in 2020 and rebound to grow about 3% in 2021. The IHS Markit team of subject matter experts, analysts and consultants offers the actionable intelligence you need to make informed decisions. A recent report compares benzene prices in different counties to the average national paycheck to locate in which gas absolutely is the most, and least, affordable. New start-ups will impact the benzene scenario once again. Europe’s forward benzene market is in extremely steep backwardation with October trading $80-100 per mt lower than September. However, large new paraxylene and benzene plants are on the brink of starting up their operations in Asia. Benzene prices have fallen by over 60pc since hitting $740-750/t fob South Korea in January, pressured by the spread of Covid-19 outside China. On the other hand, benzene import volumes to China reduced substantially to 65 kt in June and July respectively. More information about the price reports we publish on Benzene Currently, the Asian benzene market has been supported by two major styrene producers. The margins of styrene and phenol are also expected to decline and add pressure on benzene margins. ICIS Benzene Price Index. The start-up of Hengli’s new capacity, at a time when the inventory of benzene in China was already running high, further dented the already weak market, which was further compounded by the severe loss in demand due to turnarounds of major styrene plants. Dow Increases Polyol Prices. The CFR price of Benzene was stable at Rs725 per mt during the entire week. Your email address will not be published. Intraday futures prices are delayed 10 minutes, per exchange rules, and are listed in CST. However, in 2019, paraxylene margins have sharply corrected downwards and olefin margins have also dropped. However, LPG prices have been low relative to naphtha since May this year and LPG charge to crackers has increased to 10-15%, resulting in some reduction in pygas based benzene production. We offer the following regional Benzene analysis and news coverage to keep you informed of factors and developments affecting prices in the China Benzene marketplace.. Price reporting. Zhejiang PC plans to start reformer operations from October and Hengyi in Brunei has started to charge crude oil in September with reformer and TA operations expected to start soon. While producers certainly do not price all of their ethylene at the spot price, that low price is a largely unprofitable one. 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