Ethylene dichloride update

Asian ethylene dichloride prices moved up from the last assessment on December 15, owing to tighter supply. On Thursday, the CFR Far East Asia marker rose by $13/mt to $293/mt, while the CFR Southeast Asia marker increased by $10/mt to $300/mt. Industry sources said that supply was limited owing to less imports. “Plants in the Middle East are lowering their operating rates, leading to fewer cargoes for sale,” said a regional trader. Another regional trader noted that demand was better in Southeast Asia. Another source added that less cargoes of US-origin was headed towards the region, leading to constrained availability of cargoes. VCM: Asian vinyl chloride monomer prices dropped by $85/mt from the last assessment on December 15, on the back of a weaker downstream market. CFR China PVC was assessed at $910/mt, down $10/mt from the last assessment on December 14. Industry sources said that discussions for CFR China PVC deals were little, as buyers awaited February offers. Another regional trader added that VCM plants in China were lowering operating rates and workers were preparing to take leave for the Lunar New Year holidays starting January 27.Rationale EDC: EDC was assessed up $13/mt from the last assessment on December 15 at $293/mt CFR Far East Asia, and up $10/mt at $300/ mt CFR Southeast Asia Thursday. No deals were heard. Negotiations for February cargoes were completed, according to market sources. Buying ideas for March were heard from $280-$295/mt CFR FEA , and selling ideas were heard at $300/mt and above CFR FEA. According to industry sources, the tradable level for CFR SEA was heard at $300/mt. VCM: The CFR Far East Asia VCM price moved down $85/mt from the last assessment on December 15 to $720/mt Thursday. No deals were heard. Buying ideas were heard from $700-$710/mt, while a selling indication was heard at $750/mt. The CFR Southeast Asia VCM price fell by $85/mt to $740/mt, tracking the fall in the CFR FEA price.

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Chemicals prices in International market ·

ACETONE: US export spot pricing gained $138/mt week over week, assessed Tuesday at $766-$788/mt (34.75-35.75 cents/lb) FOB USG. Spot supply remained tight, and upticks in export demand and feedstock refinery-grade propylene pricing pushed pricing higher, sources said. It was difficult to find supply to satisfy that export demand, a source said. Export pricing was pegged in themid-30s cents/gal range. Most sellers had announced increases in the 3-5cents/lb range for January, sources said. Feedstock refinery-grade propylene pricing increased 6 cents -- or 36% -- week on week to 22.50 cents/lb Tuesday. In contracts, January contracts settled 5.675 cents lower at 29.375 cents/lb,a source said. The settlement fell in line with market expectations of a settlement in the upper-20s cents/lb range. Domestic acetone pricing was talked in the mid- to upper-30s cents/lb, sources said.
 PHENOL: The US spot export assessment was stable from a week ago, assessed Tuesday at $887-$909/mt(40.25-41.25 cents/lb) FOB USG. Market talks for export still indicated pricing 2-7 cents above January benzene contracts, which settled 33-41cents/gal higher from December at a 267-275 cents/gal split, sources said. Export pricing to Asia was last heard as low as 2 cents/lb above benzene contracts, while export pricing to South America was as high as 7 cents/lb above benzene contracts, a source said. The domestic phenol assessment was also unchanged Tuesday at $1064-$1086/mt (48.25-49.25 cents/lb) FOB USG ex-tank as talks were steady. Domestic pricing was talked around 12 cents/lb above benzene contracts, a source said. In feed stocks, spot benzene prompt pricing was assessed Tuesday at 321 cents/gal FOB USG, a week on week gain of49 cents/gal or $146.51/mt. Cumene was assessed at 288 cents/gal FOB USG. An average of production rates was last heard around 75%.
 IPA: Spot prices increased 1 cent/lb ($22/mt) week on week, assessed Tuesday at 49.50-50.50cents/lb ($1,091-$1,113/mt) FOB USG and 51.50-52.50 cents/lb ($1,135-$1,157/mt) DER, with the spot market remaining under pressure due to limited availability, sources said. After production issues in the second half of last year and expectations of a turnaround in the first quarter of this year, additional material for the spot market has been hard to come by, a distributor said. Recent decreases in feedstock propylene contract pricing has likely helped contract buyers with a feedstock component in their contracts, but that relief will likely be short-lived with propylene contracts expected to rise for January, a source said. December contracts for feedstock chemical-grade propylene declined 4 cents/lb to 30 cents/lb for chemical-grade product, but expectations for January have called for increases of as much as 5-7cents/lb, sources in that market have said. IPA pricing typically lags the movement in CGP contracts, per market feedback.
 ETAC: Spot prices remained stable week on week, assessed Tuesday at 49.50-50.50 cents/lb ($1,091-$1,113/mt) FOB USG and at 52.50-53.50 cents/lb ($1,157-$1,179/mt) delivered. The market has been relatively stable in recent months, a distributor said. In feedstocks, acetic acid was assessed $30/mt higher on Thursday at $565-$575/mt FOB USG.
BUTAC: Spot prices stayed flat week on week, assessed Tuesday at54.50-55.50 cents/lb ($1,202-$1,224/mt) FOB USG and 58.50-59.50 cents/lb($1,290-$1,312/mt) delivered. Limited activity has been seen in the early partof the year, a source said.
INDUSTRIAL-GRADE ETHANOL: Pricing held steady week on week, assessed Tuesday at 296.50-306.50 cents/gal FOB DSP for 190 proof and319.50-329.50 cents/gal FOB DSP for 200 proof. The majority of industrial ethanol contracts cover terms of 6-12 months, with some expiring at the end of each month, per market feedback. Chicago Argo ethanol assessments fell 5.05cents week on week to $1.4870/gal.