Economics improve obviously

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 China MX to CFR Japan naphtha price spread widened to $430/mt and FOB Korea MX to CFR Japan naphtha spread reached as high as $680/mt. PXN spread hit 4-year high, and the spread of other products to naphtha all refreshed record highs.

Besides from increasing demand and rising prices, weaker naphtha also contributed to the improvement of aromatics economics.