2022-07-29

The rapid rise in aromatics price led directly to fast improvement of economics. PX-naphtha spread widened to as high as $685/mt in early Jun, benzene-naphtha spread hit record high of $634/mt, and toluene to naphtha spread reached high point of $460/mt in mid-Jun, based on CFR Japan naphtha. CFR Ch Read More

2022-07-29

Firstly, crude oil retreated notably in early Jun, and aromatics were dragged down by drop in the cost. Secondly, US gasoline price pulled back, as US attempted to cap the price rise due to high inflation and US Fed hiked interest rate. Thirdly, aromatics prices in the US had exceeded that of gasoli Read More

2022-07-29

Due to the geopolitical conflict, spike in crude oil, as well as peak demand in driving season, US gasoline price hiked notably. The most active contract of gasoline RBOB futures soared by 44.5% from low point of $2.9931/gal to $4.3260/gal from Apr 11 to Jun 6. With rising gasoline price, demand for Read More

2022-07-29

From the chart above, aromatics prices have basically been tracking the movements of crude oil since May. From end-Apr to early Jun, Brent crude futures advanced 20.8% and spot surged 35%. Aromatics prices hiked 30-40% over the same period. Then, aromatics declined faster than crude oil, reflecting Read More

2022-07-29

Demand outside China performs better. On the one hand, part of demand has transferred to other fibers due to higher cotton price in international market. On the other hand, some of orders for Chinese textiles and apparels show signs of transferring to South Asia and Southeast Asia with rising prices Read More

2022-07-29

Last week, the National Bureau of Statistics (NBS) released retail sales of consumer goods in the first five months of 2022. The total consumption of apparels in Jan-May fell by 8.1% year-on-year, of which the year-on-year decline in May was as high as 16.2%. At the same time, although the price of Read More