Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Oil | Petrochemicals

Asia petrochemicals outlook, w/c Feb 8

Oil | Crude Oil | Refined Products | Shipping | Tankers

Clean tankers face extended weakness amid refinery outages, diesel hike

Petrochemicals | Olefins | Polymers

Platts Global Polyolefins Outlook

Oil | Crude Oil | Coronavirus | Energy Transition | Macroeconomics

37th Asia Pacific Petroleum (APPEC 2021)


FACTBOX: Petrochemical restart efforts continue post-freeze

Electric Power | Renewables | LNG | Natural Gas

Fuel for Thought: For green hydrogen to catch up with blue, it's a long ride in India

Asia petrochemicals outlook, w/c Feb 8

Singapore — Volatility in Asian petrochemical upstream markets likely a key for price direction in downstream markets, especially as trade activity begins to taper down ahead of the Lunar New Year holidays in China.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now


** China propylene is expected to stay stable in the week after restocking is mostly completed ahead of Lunar New Year holidays.

** The South Korea market is poised to receive support from demand for spot materials, with Hanwha Total's new downstream polypropylene unit expected to start in second-half February.

** Taiwan's state-run CPC is aiming to start its residual fluid catalytic cracker Feb. 8. The steam cracker has the capacity to produce 450,000 mt/year of propylene.

Polypropylene (PP):

** Asian polypropylene is likely to slow down ahead of the Lunar New Year holidays in China from Feb. 11-17.

** Offers from international sellers to China stayed firm, in view of currently more attractive spot markets like Turkey, Latin America, the US and Africa.

S&P Global Platts Asian Petrochemicals Markets Virtual Conference | March 25, 2021

Gain valuable insights from more than 20 speakers on the game-changing shifts in the petrochemical markets where we answer key market concerns, provide solutions to critical questions and deep analysis of the industry.

View full agenda

** South Asia demand could be robust while supply is likely to remain tight amid planned shutdowns.


** The Asian toluene market witnessed a demand-driven surge in the week ended Feb. 6, and an extension of an upward trajectory ahead will depend on China's trading interest ahead of Lunar New Year holidays.

** Price movement in associated markets such as benzene will also be eyed keenly to determine toluene prices in the truncated trading week of Feb. 8, sources said.

Isomer-grade Mixed Xylenes (MX):

** MX likely to continue tracking crude oil and paraxylene prices, both of which recently have shown firmness.

** MX prices hit more than a one-year high of $636/mt FOB Korea on Feb. 5 from firmer upstream values.

Orthoxylene (OX):

** Orthoxylene prices may see support in the week ahead from increasing domestic prices of both OX and downstream phthalic anhydride in China.

** China's Sinopec raised domestic prices of OX in South, east and north China by Yuan 300/mt to Yuan 5,000/mt on Feb. 7. The new price is equal to about $670.50/mt on an import-parity basis.

** Sinopec's price increase comes on the back of fast rising feedstock prices, which has also driven up international OX prices.


** Recent bullishness in Asian styrene may extend on the back of price gains in both upstream and downstream markets.

** Trading activity could slow down as downstream producers begin to reduce production rates or shut down for the long holidays in China.

** Current inventory levels, nonetheless, remains manageable and postholiday demand expectations from market participants remain fairly optimistic.

Purified Terephthalic Acid (PTA):

** PTA market fundamentals could remain largely stable.

** Price movement in upstream PX markets to drive PTA direction.


** Tighter supply in Asian acrylonitrile market after production outage in the US has reduced spot supply to Asia.

** Cornerstone, a key producer in the US, declared force majeure in the week ended Feb. 6. The company sells 6,000-7,000 mt acrylonitrile to India each month.

** Indian buyers are expected to compete with other buyers in Asia for cargoes as a result of the supply disruption.