- Physical, derivative prices retreats- Saudi Aramco to develop integrated complex in Ulsan



With the steady decline in both physical and
derivative benzene prices Nov. 17, the Asian benzene market was weak. FOB Korea benzene dropped $10/mt, its third
consecutive drop this week, to $814.67/mt Nov. 17. Spot H2
December loading FOB Korean cargoes was still being offered in the market.
However, buying interest remained muted. A participant
stated that December's benzene supply is very long due to domestic reformer
run-rates remaining high. Further downstream, ABS run rates were
higher than 65% for acrylonitrilebutadiene, while other run rates were lower or
mixed. The region's styrene demand was still influenced
by the market for acrylonitrile butadiene styrene. Saudi
Aramco, an affiliate of S-Oil, will build a large-scale refinery-integrated,
petrochemicals steam crackeder in Ulsan (South Korea). This investment...