- Aromatics movement mixed- September Offer





Asian toluene fell $1-2/mt on July 19, to
$939-950/mt FOB Korea, and $999-1020/mt CFR China. This was despite an increase
in upstream prices. September ICE Brent crude oil futures
increased $2.97/b on a day to $106.44-120.50/b by 0830 GMT in Asia. Mixed
aromatics were mixed, with paraxylene falling $3-4/mt to $1,038-1,050/mt
CFRUnv1/China, and isomer-grade mixed xylenes rising $1-2/mt on the day to $960.50-980.25/mt
FOB Korea. The toluene market was dull. A September
cargo offer was made at $940-960/mt FOB Korea. No buyers expressed interest. According to
a trader, the toluene market is likely to be in backwardation with other
upstream markets such as the aromatics and fuel markets. Backwardation
was also evident in the Chinese domestic market structure. On a
day-to-day basis, the prompt domestic east China ex tank price was...