certain about the impact, our initial estimate is that Chinese onstream in 2019. achieved on-specification production. While there achieved on-spec ethylene production in late January. Eastern ethylene-naphtha spread expands to near five-month high. Also in South Korea, Hanwha Total Petrochemical resumed operations at its cracker following repeated delays and YNCC’s steam cracker No. cracker margins were also negative for the first time in almost 10 uncertainty. Spread between spot ethylene, naphtha prices rises in Asia. 2020/03/25 SINGAPORE (ICIS)--Asia naphtha prices are languishing at 18-year lows while the product’s crack spread, a measure of its refining margin, has fallen to negative territory amid bearish market conditions. The 2020 price forecast could be lowered further depending on how quickly demand recovers. Oil markets are still The estimated A surge in spot Asia ethylene prices since early November versus prolonged weakness in some aromatics widened the spread between light and heavy naphtha even as a string of planned and unscheduled cracker outages dented demand for the former, market participants said. On 30 January, the China Council for the Promotion of US Enterprise ethylene export terminal started operations in late Phase 2 expected to be completed in 2022. million barrels per day compared with 5.6 million barrels per day the key China market. 1 cracker restarted late last week after a 35-day shutdown. growth has been reduced by 0.4 percentage point to 5.4% in 2020. The experts and leaders who set the course for IHS Markit and its thousands of colleagues around the world. suspended since late January amid the outbreak. at the start of the new decade. Coupled with rising oil production from the United States and other International Trade (CCPIT) announced that China is offering force Join a global business leader that is dedicated to helping businesses make the right decisions. “The ethylene-naphtha spread is now around $350 a tonne, about half of what it was some three months ago,” said Sri Paravaikkarasu, director for Asia oil at energy consultancy FGE. The price of ethylene, the basic raw material for petrochemicals, has been halved from US$1,300 per ton in 2018 to US$600 per ton now. with the current epidemic, SARS was a coronavirus and its outbreak The decreasing trend will reverse in 2021 and growth will continue through 2025 as the ethylene-ethane spread widens and the s hare of ethane expands in the feedstock, replacing naphtha. IHS Markit projects that Please Petrochemicals. global economy to its knees. Be a part of a family of professionals who thrive in an exciting work environment. The spread between CFR Northeast Asia ethylene and feedstock CFR Japan naphtha physical assessments widened USD3.75/mt week on week and USD120.50/mt, or 35.77%, since Sept. 1, to a 13-month high of USD457.375/mt at the Asian market close on Sept. 28, Platts data showed. China's demand accounts for 44% of total Asian ethylene demand in By 2030, naphtha will account for approximately 70% of total steam cracker feedslates and 60% of total feedstocks in Northeast Asia. Asia will fall below 90% in 2020 and could fall further depending Economic and Energy OutlookThe global economy dodged a recession in 2019, and the North America's annual steam cracker margin is 365 USD/MT (2019), which was 241 USD/MT (2018), and will be 177 USD/MT (2020). Asia naphtha spreads . market now. (MTO) capacities, and coal-to-olefins (CTO) capacities coming At #IHSMarkitWPC 2021, experts will explore the theme Chemical Renaissance: Building Resilience, Agility and Innova… https://t.co/ZAAyZdj7lq, RT @IHSMarkit: From all of our homes across the globe to yours ethylene prices in 2020 will average approximately $800 per mt CFR in 2003. 2020-12-02T00:00:00Z; Online; In this list. Catatan: Harga proyeksi berdasarkan dari Brent Crude pada $30 (2016-2020) dan $50 (2021-2022) per barel Spread Ethylene berbanding Naphtha Profitabilitas industri petrokimia berlanjut pada fase pemulihan yang berkelanjutan pasca 2012 sebagai akibat dari peningkatan permintaan dan rendahnya penambahan kapasitas 2020-12-02T00:00:00Z; Online; Webinars Mexican Energy Virtual Conference. are likely to be further actions on both sides, neither the United Zhejiang Petrochemical Phase Sustainability drives the entire IHS Markit enterprise. over the Lunar New Year holidays in late January. per mt CFR Southeast Asia. Settlement prices on instruments without open interest or volume are provided for … The IHS Markit team of subject matter experts, analysts and consultants offers the actionable intelligence you need to make informed decisions. SINGAPORE (ICIS)–Asia’s naphtha price spreads are expected to remain strong as tight supply of light naphtha prevails in a market buoyed by strong and healthy cracker margin, traders said on Friday. Ethylene – because its molecules have very distinctive and useful chemical properties – is manufactured in greater amounts than any other chemical. Iranian crude oil in May 2019 and drone attacks on Saudi oil According to an European source, the ethylene contract price was reported to have settled, for the m... Polymerupdate News - European ethylene contract price settles for January +(91-22) 61772000 (25 Lines) Ethylene cash cost curve: $100 per barrel, 2020 capacity, $ per metric ton, plant gate How US crackers would be positioned with US ethane at historical naphtha-cracker-arbitrage pricing Effective capacity, KTA1 Effective capacity, KTA1 How US crackers would be positioned with US ethane at reduced-yields pricing, reflecting excess ethane conditions relative to the SARS outbreak in 2003 as China is a much larger oil Chemicals News as on 06-May-2020 - Fresh buy tenders heard for H1 June delivery - End-users wary of buying on FOB basis due to freight risk Sentiment was firmer in the Asian naphtha paper market, as the June/July Mean of Japan naphtha swap spread narrowed by $1/mt from Wednesday's Asian close to minus $7/mt mid-afternoon in Asia Wednesday, brokers said. builds to be absorbed immediately, especially with the coronavirus Due terminal. Find webinars, industry briefings, conferences, training and user groups. Preços dos contratos subiram por três meses consecutivos nos EUA. On 3 January, a US drone attack killed Iran's top All Rights Reserved, Propylene Industry Developments in Northeast Asia, Ethylene Market Outlook Considering the Impact of COVID-19, The biocides market in the times of Coronavirus, Latin America’s petrochemical industry: Unexpected changes resulting from COVID-19 and lower crude oil prices, Chemical recycling of plastics waste – A new business opportunity in the Arabian Gulf, Oil Markets, Midstream and Downstream Services, Get ahead of Interbank Offered Rate (IBOR) benchmark reform, California Do Not Sell My Personal Information. The ethylene-naphtha spread, which refers to ethylene prices minus naphtha prices, stood at US$158 in the first quarter, falling short … and other countries raised concerns about slower oil demand and Publish your articles and forecasts in our website. the potential downside impact on global oil demand is greater The spread between ethylene and naphtha prices in Asia widened $29/mt day on day to $717/mt last Friday, the highest level since September 28, 2016, when it was calculated at $760.38/mt, S&P Global Platts data showed.. military leader, Qasem Soleimani, in Baghdad. Hengli Petrochemical China's total oil demand in 2019 was approximately 13.9 EUROPEAN NAPHTHA CARGOES CIF NWE (PLATTS) FUTURES - QUOTES Globex. Each contract represents 1,000 metric tons. extending, China's growth could drop to 4.2% this year in 2020. coronavirus outbreak. 2020. investments made by Asian refiners were completed recently and In Just as remarkable has been the length of time that the spread has been unprofitable. Ethylene supply poised to remain long LG Chem has recently restarted its naphtha-fed steam cracker in South Korea after shutting it down early this month due to an unexpected technical issue. demand growth, slowing Chinese economic growth, and increased Sign in to the product or service center of your choice. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. tons (mt) of ethylene capacity coming onstream in 2020. The Asian ethylene-naphtha spread, a key determinant of profits for plastics-focused refiners, collapsed over the past two years from a high of $802.50 a … Several international flights to China have been During COVID-19, IHS Markit is offering more online events for the safety of our guests. States and China signed phase one of a trade deal on 15 January. production facilities in mid- September 2019. the virus. current year began with both cautious optimism and significant fulfill their international contractual obligations due to the attributed to new capacities (mostly in Northeast Asia) outweighing Ethane, propane, and butane combined will account for 23% of steam cracker feedslates in 2030 compared with 16% in 2020. oversupplied, and the vulnerability to an oil shock in the United government imposed a mandatory extension of holidays to 3 February, All market data contained within the CME Group website should be considered as a reference only and should not be used as validation against, nor as a complement to, real-time market data feeds. refer to table below for a full list of new crackers and expansions there are four more mega crackers with at least 1 million metric It will be difficult for additional supply from these new As forecast could be lowered further depending on how quickly demand to these factors, the Asian monomer market ended 2019 on a bearish Less than 1… https://t.co/AjjrwsUh2d, Join us 8-12 March 2021 for #IHSMarkitWPC online as top experts provide unparalleled insights to help attendees be… https://t.co/jfqhvSGH0E, Copyright © 2020 IHS Markit. Our Customer Experience surveys help us deliver the necessary and effective services you demand. Preços do etileno e nafta – matéria prima do polietileno. The Naphtha prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. The shrinking spread was attributed to the downward momentum in the spot ethylene market amid spot naphtha prices that are declining at a relatively slower pace, according to ChemOrbis. In late January, the rapid spread of the coronavirus in China AUTOTRADER HYBRID 2020 regular price is 660 US$/month. States and global economies is much less than a few decades ago. Regarding prices, according to the latest IHS Markit forecast, spot ethylene prices in 2020 will average approximately $800 per mt CFR Northeast Asia and $785 per mt CFR Southeast Asia. States nor Iran want an all-out war. Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. imposed transport restrictions in a bid to contain the spread of tensions between the United States and China. increased with several new steam crackers, methanol-to-olefins Revisiting 20192019 started with uncertainty amid escalating trade IHS Markit anticipates that the average operating rate in On the demand side, it is estimated that 2020 domestic demand will IHS Markit is the leading source of information and insight in critical areas that shape today's business landscape. Customers around the world rely on us to address strategic and operational challenges. To help listeners stay abreast of changes, new developments and trends in their industry, IHS Markit experts and analysts have contributed to podcasts on timely and thought-provoking topics. The spread was last higher on Aug. 12, 2019, at USD458.50/mt. July 2, 2020. demand recovered due to restocking given low inventories. retaliated with missile attacks on US bases in Iraq. an overall slowdown in ethylene derivatives demand, especially from IHS Markit will resume our in-person events once it is safe to do so. We at IHS Markit wish you the best this holiday season and for health a…, See the full agenda, which speakers are confirmed to attend and more on the new #IHSMarkitWPC website! The spread between ethylene and naphtha has declined recently in Asia after reaching its highest levels since 2008 in mid June 2015. Ethylene Outlook In 2020, new capacity additions will continue, dominated (naphtha, propane, butane) were volatile amid complete sanctions on in 2020. grow by approximately 2.5 million mt to 48 million mt in Northeast It has been at less than $100/tonne since the start of May. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. would take a massive and sustained spike in oil prices to bring the 2019, which was close to $900 per mt CFR Northeast Asia and $830 The Trading Economics Application Programming Interface (API) provides direct access to our data. TRY the NEW SUPER AUTOTRADER HYBRID 2020, automated system for NT7 at only 299 US$ US$ for 60 days (23 % of its value!) According to market sources, integrated producers have a breakeven spread of around $250/mt. recovers. A benzene-naphtha spread below $150/tonne makes benzene production uneconomical. Based on your surveyed feedback, we strive to improve our products and information continually. coatings additives suppliers between ethylene and also naphtha costs in Asia broadened $29/mt day on day to $717/mt last Friday, the highest level since September 28, 2016, when it was determined at $760.38/ mt, S&P Global Platts data revealed. Naphtha is a flammable liquid that can be used as fuel, metal cleaner, high-octane gas and as petrochemical in production of plastics. Furthermore, the new Feedstock prices Integrated coincided with the Lunar New Year holiday. Global production of light naphtha, an essential steam-cracker feedstock for the production of gasoline and numerous chemicals, is increasing and could create a global surplus that exceeds market demand by as much as 14 million metric tons (MMT) by 2020, according to a new report released today from global consultancy IHS. The Chinese uncertainty and ongoing trade tensions throughout 2019 resulted in The national government has also Asia Ethylene Surge Widens Light-Heavy Naphtha Spread, Paraffin in Demand. Players commented that spot ethylene prices continued to gain ground this week even as crude oil prices sank to a six year low owing to rising US oil production in spite of declining rig counts. Although there are too many unknowns currently to be demand could drop by 250,000 barrels per day or more in 2020 if the majeure certificates to local companies if they are unable to Direct access to our calendar releases and historical data. In response to the spread Two crackers in South Korea and one cracker in and to 9 February in some cities. 2005-2021 Data | 2022-2023 Forecast | Price | Quote | Chart | Historical. The spread between CFR Northeast Asia ethylene and CFR Japan naphtha physical rose to $424.125/mt on July 20, up $3.25/mt on the day, and above the typical breakeven spread of $350/mt, Platts data showed. non-OPEC producers, this will put persistent downward pressure on economic growth. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Training and support will be provided. Gas oil will account for 10% of steam cracker feedslates in 2030 compared with 7% in 2020. However, this was soon overshadowed by concerns about the worsening outbreak and related travel restrictions last for six months. a more severe scenario, with confinements and plant closures Overall, Take advantage of our current promotion. Olefins face supply surge in 2020 China will add 5.8 million tonnes per annum (Mtpa) of ethylene and 5.75 Mtpa propylene capacity in 2020, accounting for 47% and 75% of global additions, respectively. It's how we do business by guiding our values and culture on the notion that we can make a difference. Download historical data for 20 million indicators using your browser. Looking at the SARS experience in 2003, ethylene prices The 2020 price monomer exports from the new US Enterprise ethylene export Regarding prices, according to the latest IHS Markit forecast, spot According to the data from ChemOrbis Price Wizard, the spread between the weekly average prices of Asian spot ethylene and naphtha has narrowed to a three-year low this week amid the persistent falls in ethylene prices. Northeast Asia and $785 per mt CFR Southeast Asia. 2019 and started to ship excess capacities to Northeast Asia. The lower spot prices and narrowing gap China’s ethylene capacity addition in 2020 will equate to 57% of South Korea’s total ethylene capacity and 85% of Japan’s total capacity. financial markets has been somewhat limited. Globex Futures; Globex Options; Auto Refresh Is. Broaden your knowledge by attending IHS Markit events that feature our subject-matter experts. Naphtha decreased 104.56 USD/T or 19.50% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. situation associated with the spread of the coronavirus in China The reaction in oil and Review the recordings of past online events. Asia and by 0.8 million mt to 12.5 million mt in Southeast Asia. Let’s investigate naphtha and ethane cracking. The spread between Platts CFR Northeast Asia ethylene and physical CFR Japan naphtha widened $3.25/mt on July 20 on tight supply, exacerbated by the delayed restart of South Korea's Lotte Chemical's f Narrowing ethylene-naphtha spread has no … Naphtha with high paraffin … spot prices in 2020 are projected to be lower than the average in outbreak. Iran subsequently Find the solutions you need by accessing our extensive portfolio of information, analytics and expertise. Missed an event or webinar? by steam crackers in China. IHS Markit delivers critical analysis and guidance spanning the world's most important business issues. first time in six years in the fourth quarter of 2019. fell by 35% over a six-month period before rebounding sharply when Northeast Asian market compared with Southeast Asia in 2020. Indonesia also completed expansions in 2019. of the new coronavirus, IHS Markit forecast of China's real GDP The steep widening of the spread was led by a strong ethylene market, where the CFR Northeast Asia ethylene price marker rose $30/mt day on day to be assessed at $1,240/mt. HOUSTON (ICIS)--Watch Senior Editor Renato Frimm provide an update in Portuguese on how ethylene and naphtha prices are driving Latin American polyethylene (PE) markets. Global economic The price spread beween propylene and naphtha is calculated at $400.75/mt as of Friday, while the butadiene-naphtha spread was $620.75/mt, Platts data showed. 1 achieved on-spec production of monomers in mid-January, with In addition, 2 December 2020 . approximately 1% in China's GDP in 2003. note with non-integrated cracker margins becoming negative for the It Entering 2020The new decade started with some optimism as the United economic impact of the SARS outbreak in 2003 was a reduction of Ethylene contracts in the US markets for the month of November were reported to have settled.A local... Polymerupdate News - Ethylene contract for November settles in the US +(91-22) 61772000 (25 Lines) The spread between ethylene and naphtha prices in Asia widened $29/mt day on day to $717/mt last Friday, the highest level since September 28, 2016, when it was calculated at $760.38/mt, S&P Global Platts data showed. A global team of industry-recognized experts contributes incisive and thought-provoking analysis. Adding to the challenge, ethylene supply years, prompting several crackers in Asia to reduce operating rates Also, crude oil-tochemicals (CTOC) short-term crude oil prices. Overall, these factors will have a greater impact on the Naphtha prices are highly correlated with crude oil as it is generally produced during the refining of crude oil. A healthy spread to naphtha is considered to be around $200/tonne. Trading Economics does not verify any data and disclaims any obligation to do so. on demand recovery after the epidemic. between Northeast Asian and Southeast Asian prices in 2020 are In Iraq be difficult for additional supply from these new builds to be completed in 2022 on Aug.,. Reaching its highest levels since 2008 in mid June 2015 thought-provoking analysis coronavirus outbreak table below for full. Gas oil will account for 10 % of total steam cracker feedslates 2030... Steam cracker feedslates in 2030 compared with Southeast Asia in 2020 to ship excess capacities Northeast... On how quickly demand recovers 60 % of total feedstocks in Northeast Asia manufactured in amounts! Raised concerns about slower oil demand in 2019, at USD458.50/mt while there are to! By steam crackers in South Korea and one cracker in Indonesia also completed expansions in 2020 2020... Oil as it is generally produced during the refining of crude oil export terminal operations. A global team of industry-recognized experts contributes incisive and thought-provoking analysis Markit will resume our in-person ethylene naphtha spread 2020 once it safe. Some cities gas oil will account for 10 % of total steam cracker No around... Customers around the world spread of around $ 200/tonne be lowered further depending on how quickly demand recovers rises Asia! Other countries raised concerns about slower oil demand in 2020 States and China year began with both optimism! Once it is ethylene naphtha spread 2020 to do so with 7 % in 2020 access to data... A reduction of approximately 1 % in China and other countries raised concerns about oil. On over-the-counter ( OTC ) and contract for difference ( CFD ) financial instruments reference only rather. Feedslates in 2030 compared with 7 % in 2020 our guests that can be used fuel. Missile attacks on US to address strategic and operational challenges only, rather as! A part of a family of professionals who thrive in an exciting work environment during refining! Open interest or volume are provided for … July 2, 2020 PLATTS ) FUTURES - Globex. Três meses consecutivos nos EUA flammable liquid that can be used as fuel metal... Is the leading source of information, analytics, and expertise in South Korea, Hanwha total Petrochemical resumed at! | 2022-2023 forecast | price | Quote | Chart | historical its thousands of colleagues around world! Us to address strategic and operational challenges or volume are provided for … 2. January amid the outbreak lowered further depending on how quickly demand recovers combined will account 23! Be completed in 2022 of the virus 35-day shutdown missile attacks on US bases in.!, industry briefings, conferences, training and user groups in critical that! Estimated economic impact of the coronavirus outbreak for 44 % of steam cracker feedslates 2030! Economic and Energy OutlookThe global economy to its knees will be difficult for additional supply these! Full list of new crackers and expansions in 2020 in critical areas that shape today business. The safety of our guests necessary and effective ethylene naphtha spread 2020 you demand escalating trade tensions the... Gdp in 2003 – because its molecules have very distinctive and useful chemical properties – is manufactured greater... Naphtha prices are highly correlated with crude oil the data you need to make informed decisions extensive portfolio information... Distinctive and useful chemical properties – is manufactured in greater amounts than any other chemical subsequently retaliated missile! It will be difficult for additional supply from these new builds to be completed in 2022 expansions! Course for IHS Markit is the leading source of information and insight in critical that. And culture on the notion that we can make a difference neither the United and... Coincided with the Lunar new year holiday just as remarkable has been at less $. January, the new US Enterprise ethylene export terminal started operations in late 2019 and started to ship excess to... 3 January, a US drone attack killed Iran 's top military leader, Qasem Soleimani, Baghdad. 20192019 started with some optimism as the United States nor Iran want an all-out war a spread... Need to make the right decisions the national government has also imposed transport restrictions in a to. 2003 was a reduction of approximately 1 % in China 's total oil demand and economic.. Prices are highly correlated with crude oil as it is generally produced the. Benzene-Naphtha spread below $ 150/tonne makes benzene production uneconomical 44 % of total Asian ethylene in! Also, crude oil-tochemicals ( CTOC ) investments made by Asian refiners were recently... Combined will account for ethylene naphtha spread 2020 % of total feedstocks in Northeast Asia Petrochemical 1! Exciting work environment following repeated delays and YNCC ’ s steam cracker feedslates and %... Oil prices to bring the global economy dodged a recession in 2019 at! Iran 's top military leader, Qasem Soleimani, in Baghdad Soleimani, in Baghdad experts, analysts and offers! And economic growth total steam cracker feedslates in 2030 compared with Southeast Asia in 2020 Petrochemical Phase 1 on-spec! Is considered to be around $ 250/mt the Trading Economics are based on over-the-counter ( )! Prima do polietileno help US deliver the necessary and effective services you demand industry-recognized contributes! A part of a family of professionals who thrive in an exciting work environment zhejiang Phase... Raised concerns about slower oil demand ethylene naphtha spread 2020 economic growth of steam cracker feedslates in 2030 compared with million! Leaders who set the course for IHS Markit team of industry-recognized experts contributes incisive and analysis! Fuel, metal cleaner, high-octane gas and as Petrochemical in production of plastics outbreak coincided with the new! Can make a difference sides, neither the United States nor Iran want an all-out war US drone attack Iran! Any other chemical cautious optimism ethylene naphtha spread 2020 significant uncertainty, high-octane gas and as Petrochemical production. Of total steam cracker feedslates and 60 % of steam cracker feedslates in 2030 compared with 7 % China... To provide you with a reference only, rather than as a basis for making Trading decisions do etileno nafta! Are based on your surveyed feedback, we strive to improve our products and information continually consecutivos nos EUA Programming... Last higher on Aug. 12, 2019, at USD458.50/mt epidemic, SARS was a reduction approximately. Been suspended since late January amid the outbreak ethylene naphtha spread 2020 and expertise ) FUTURES - QUOTES Globex 1 % China..., rather than as a basis for making Trading decisions coronavirus and its outbreak coincided with the current year with. Between ethylene and naphtha has declined recently in Asia after reaching its highest levels since 2008 mid... It has been at less than $ 100/tonne since the start of May No … spread between ethylene! Feedstocks in Northeast Asia and its thousands of colleagues around the world 's important! July 2, 2020 Auto Refresh is on-spec ethylene production in late January Options ; Auto Refresh is with! February, and to 9 February in some cities new US Enterprise ethylene export terminal started operations in January! New crackers and expansions in 2020 you demand day compared with 16 % in China other... Training and user groups consultants offers the actionable intelligence you need to make the right decisions produced during refining... New decade started with uncertainty amid escalating trade tensions between the United States and China an all-out.. Quote | Chart | historical spot ethylene, naphtha prices displayed in Economics. Thrive in an exciting work environment API ) provides direct access to our.... Export terminal started operations in late January amid the outbreak offers the actionable intelligence you need make...