SK Global Chemical raised June contract price of paraxylene in Asia at USD40 per tonne – SK Global Chemical (SKGC), one of the largest petrochemical producers in South Korea, raised the contract price of paraxylene for June deliveries to the Asian region by USD40 per ton compared to May – SK Global Chemical June contract price paraxylene Asia - Arhive

May 29, 2018

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SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia SK Global Chemical June contract price paraxylene Asia

SK Global Chemical raised June contract price of paraxylene in Asia at USD40 per tonne

SK Global Chemical June contract price paraxylene Asia MOSCOW – SK Global Chemical (SKGC), one of the largest petrochemical producers in South Korea, raised the contract price of paraxylene for June deliveries to the Asian region by USD40 per ton compared to May, ICIS sources told the market.

Thus, the company’s paraxylene price contract for June was announced at USD1,080 per tonne, CFR Asia, against the May level of USD1,040 per tonne, CFR Asia.

Earlier, at the end of last week, JX Nippon Oil & Energy announced the June contract price of paraxylene for deliveries to the Asian market at USD1,130 per tonne, CFR Asia, which is USD80 per ton higher compared to the May price. The company was the first among the largest producers of paraxylene in the Asian region, which announced the contract price of paraxylene for June.

Other major paraxylene producers in Asia are S-Oil, Idemitsu Kosan and ExxonMobil.

Earlier it was noted that the parties involved in agreeing the May contract prices of paraxylene in Asia could not reach an agreement. Thus, the final price proposals and counter offers were in May at the level of USD950-1,000 per ton.

Paraxylene is used as a raw material for the synthesis of terephthalic acid – a semifinished product for the production of polyethylene terephthalate (PET).

According to the Price Review of ICIS-MRC , the tension in the Russian PET-granulate market continues to increase. It is expected that in June material prices will reach maximum levels and the shortage of free volumes will be further exacerbated. From the middle of July, a break in the current trend and the beginning of the process of returning the market to a balance situation.

SK Global Chemical is a division of SK Group, the first Korean oil refinery that has been operating for more than 50 years. SK Group has more than 70 thousand employees who work in 113 offices around the world. Its largest enterprises produce mainly petrochemical products.

mrcplast.ru

Author: Margarita Volkova

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