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With the accelerated pace of economic recovery in Asia leading to growing demand, and many suppliers have recently closed factories one after another, the Asian chemical market has seen tight supply of many products, such as polyethylene (PE) and benzene.
Polyethylene
As far as Southeast Asia is concerned, due to the planned overhaul of factories in April and May, especially in Thailand, polyethylene (PE) import supply may continue to remain tight in the next few weeks.
In China, polyethylene (PE) inventories remain high, prompting sellers to cut prices to boost sales, while supply prospects will remain surplus.
"With the launch of new production capacity in the second quarter, the tight supply situation in China will gradually ease, while supply in Southeast Asia will continue to be tight.
In the benzene market, due to the recent frequent factory problems and strong demand, the shortage of immediate cargo for shipment in May has supported the rise of benzene prices in Asia.
In the acetic acid market, due to the strong demand for shipments in Northeast Asia in May, the increasing purchase inquiries from Europe have boosted the sentiment of sellers.
For xylene (PX), due to the continued weakness of China's downstream purified terephthalic acid (PTA) profits, prices in the Asian market are still being suppressed.
(Keyword: Polyethylene)
