European aromatics struggle with liquidity.

摘要

According to ICIS consultant Rob Peacock, market players in petrochemicals—particularly European BTX—have seen reduced liquidity lately, particularly as some companies have rationalized production capacity and Europe has grown more dependent on imports of aromatics from Asia. "For some petrochemicals, liquidity in Europe has thinned to such an extent that the approach to settling contracts has changed, such as spot prices in other regions being used as a basis for negotiation," he said. "If less spot material is available, then it is likely that these markets, which are already affected by volatility in crude oil prices, will become more volatile." Mr. Peacock added that markets will also be impacted by the withdrawal of Trammo and Vitol "two of the largest traders in Europe and the US" from petrochemical trading. While the companies' exits are unlikely to be permanent, he said, their absence "will certainly further impact all the businesses active in buying, selling and trading chemicals and will decrease liquidity in the Atlantic basin benzene markets in the short term."