Aromatics (PX, Benzene, Toluene) Exports from India Likely to fall by 20-25 percent in Next Two Months Due to Maintenance Shutdown of RIL Jamnagar Unit
The exports of the aromatics like Benzene, Toluene, PX from India are likely to decline by a percentile of 20-25 in upcoming two months because of maintenance shutdown of the industry. According to the market experts, the private Indian producer Reliance Industries (RIL) is approximated to have a decline in the output of petrochemicals at 580,000 b/d Jamnagar complex.
The maintenance of its upstream units of refining will be followed because of the reducing rates of operation. As per the traders, during the month of September to October, one of the crude distillation unit is likely to have maintenance at its export-oriented Jamnagar refinery.
Reliance Industries at Jamnagar runs two aromatic manufacturing plants are proficient of producing about 1.1 Mn t/yr of benzene and 4.1 Mn t/yr of PX. It also produces about 1.24 Mn b/d refiners which makes it up the largest petrochemical and refining industry globally.
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About 600,000 t/yr of the linear low-density PE and high-density PE is manufactured by Reliance Industries (RIL) at the swing plant of Jamnagar and housed 2.1 Mn t/yr of PP.
In the Asia Pacific region, the market of benzene witnessed a growing demand in the quarter second 2022 of June month. Due to the decline in international crude cost valuation, the prices of the Indian domestic market also decreased. With the inflation of benzene pricing and freight costs, the export charges from India also got uplifted. The cost valuation for China was documented at USD 1420/tonne FOB JNPT.
With the decline in the value of the crude, it has impacted the cost of raw materials particularly toluene and benzene. In the middle of the quarter two 2022, the prices of toluene increased as because the output of downstream was recovered after the holidays of May Day. Across the regional markets, the price of toluene benefitted it from selling activity and significant purchasing. The increasing upstream crude oil prices has uplifted the toluene prices.
The Paraxylene (PX) prices in the Asia Pacific region specifically in both India and China had hiked throughout the second quarter of 2022 because of its escalating price value trend for its market of feedstock. In June 2022, the cost was settled at about USD 1307/MT FOB Shanghai and USD 2097/MT EX-Ahmedabad respectively.
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As per Procurement Resources, the private Indian producer, Reliance Industries, have approximated to have declined in the output of petrochemicals at 580,000 b/d Jamnagar complex. In the Asia Pacific region, the market of benzene witnessed a growing demand in quarter second of the month June 2022. Due to the decline in international crude cost valuation, the prices of the Indian domestic market also decreased.
Across the regional markets, the price of toluene benefitted it from selling activity and significant purchasing. The prices of Paraxylene in both India and China got hyped up throughout the second quarter because of its growing price value trend for its market of feedstock.