Aromatics
Overview
The global aromatics market is made up of several diverse product markets and can be affected by a great many factors.
Benzene is a highly traded and volatile commodity because of its predominantly co-product nature and unpredictable supply. Styrene, benzene’s largest derivative, represents about 50pc of global benzene demand. Anyone involved in the benzene industry – directly or indirectly – needs market and pricing insight to anticipate supply shortages and large swings in pricing.
Meanwhile, the toluene and xylenes isomer markets are intertwined with the global markets for gasoline. Toluene and xylenes are highly traded commodities that create a lot of interest in the industry because of the various factors that affect demand growth. Outside of their inter-relationship with the gasoline markets, the major end-uses for these commodities vary across the world, from polyester fibres and food and beverage packaging to construction. Anyone involved in the toluene and xylenes industries – directly or indirectly – needs insight into how the toluene and xylenes markets can or will impact on their business, from raw material costs or as a price indicator for downstream products.
Our aromatics experts will help you determine what trends to track and how to stay competitive in today’s ever-changing global markets.
Latest aromatics news
Browse the latest market moving news on the global aromatics services industry.
New US tariff keeps aromatics arbs shut: Correction
New US tariff keeps aromatics arbs shut: Correction
Corrects reason for BTX tariff exemption in paragraph 6 Houston, 2 March (Argus) — The new 10pc tariff on US imports that replaced earlier tariffs ruled unconstitutional by the US Supreme Court keep aromatics arbitrage opportunities in the US closed on paper. The new 10pc tariffs will keep arbitrages closed for benzene, toluene and mixed xylenes (BTX) for chemical use. As of 24 February, US benzene (BZ) stood at a $145/t premium to South Korea BZ, according to Argus data, but with the 10pc tariff rate and freight costs at $72/t, the arbitrage remained closed on paper. Similarly, toluene closed at a $145/t premium and mixed xylenes closed at a $129/t premium to toluene and mixed xylenes in South Korea, but the 10pc tariff and freight costs kept those arbitrages shut. President Donald Trump has threatened to raise the 10pc tariffs — enacted under a different law that allows them to only be in place for 150 days before requiring Congressional approval — to 15pc . The new tariffs continue to provide the same explicit exemptions for shipments of BTX products imported under specific Harmonized Tariff Schedule (HTSUS) codes as referenced in Annex II of the Executive Order 14257 establishing Reciprocal Tariffs, dated 2 April 2025. In 2025, the US imported 529,000 metric tonnes (t) of benzene, 488,193t of mixed xylenes and 183,379t of toluene, according to US Census Bureau data compiled by Global Trade Tracker. By Jake Caldwell Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US PX may tighten on Mideast Gulf fighting
US PX may tighten on Mideast Gulf fighting
Houston, 2 March (Argus) — US-Israeli attacks on Iran that started this weekend bringing vessel operators in the strait of Hormuz to a halt will likely disrupt some paraxylene (PX) trade flows from Saudi Arabia to the US. Saudi Arabia supplies 56pc of US PX imports, according to Global Trade Tracker data. About half of those volumes load from Rabigh on the Red Sea and bypass the strait of Hormuz entirely, leaving those flows largely unaffected. But the remaining volumes load from Jubail on Saudi Arabia's Persian Gulf coast. Cargoes from Jubail normally transit the strait of Hormuz into the Gulf of Oman before sailing to US Gulf Coast ports. Many shipowners now refuse to transit the strait because of security and insurance concerns, effectively restricting east coast Saudi Arabian export flows. Fewer exports from Jubail could tighten supply on the US Gulf coast, where PX demand remains relatively strong. US PX is primarily traded on a contract basis, which could limit immediate spot volatility. But sustained disruptions could force buyers to seek replacement barrels, supporting US Gulf coast PX prices. Higher freight and insurance costs could further lift delivered spot prices, according to a trader. US producers could offset part of the shortfall by raising domestic PX output through higher PX unit operating rates and increased use of selective toluene disproportionation (STDP) units, depending on margins. Market participants did note that higher nitration-grade toluene spot prices may not provide a high enough margin to benzene for producers to justify increasing STDP rates. If US production of PX does not increase, derivative polyethylene terephthalate (PET) consumers may increase PET imports to obtain the necessary downstream volumes, as most PX is used as feedstock for PET production. Upstream, US toluene and mixed xylene markets face less direct exposure. Most US imports of those products originate from east Asia rather than the Persian Gulf, limiting Hormuz-related risk. Toluene and mixed xylenes prices could rise in relation to higher crude and gasoline futures, but any price movement is unlikely to be connected to any direct supply and demand fundamentals. Spot toluene price discussions have increased by a modest 4¢/USG so far on 2 March to 285-305¢/USG, according to marked feedback. The increase in price discussions is more likely related to strong chemical demand than any impact from the US-Israel fighting with Iran. By contrast, offers for 843-grade mixed xylene rose by 30.56¢/USG to 312.06¢/USG from 281.5¢/USG, according to market feedback. Blend-grade, 843-grade mixed xylene is used as a gasoline blending component and is heavily affected by higher gasoline futures. RBOB gasoline futures rose by 29.27¢/USG over the weekend to settle at 237.06¢/USG on 2 March. Spot US PX closed at $1,073.03/t on 27 February, according to the most recent weekly Argus assessment. US PET resin February contract prices last settled 1.5¢/lb higher on 27 February at 55-59¢/lb, mirroring an upstream increase in paraxylene (PX) contract prices — which rose by 3¢/lb to settle at 52¢/lb for the month. President Donald Trump said the US is prepared for the Iran conflict to last [four to five weeks] https://www.argusmedia.com/en/news-and-insights/latest-market-news/2795217-iran-campaign-could-last-4-5-weeks-trump). By Savanna Millhausen Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EU sets definitive duties on Taiwanese and Korean ABS
EU sets definitive duties on Taiwanese and Korean ABS
London, 13 February (Argus) — The European Commission has imposed definitive duties on imports of acrylonitrile-butadiene-styrene (ABS) from Taiwan and South Korea into the EU. The duties are set on a cif basis at the EU border and typically apply for five years. South Korea's LG Chem and Lotte Chemical received duties of 7.5pc and 5.2pc, respectively, while other unnamed Korean producers were assigned a 7.5pc rate. The duty for LG Chem is 3.8 percentage points higher than the provisional level, while Lotte Chemical's declined by 0.6 percentage points. Duties for other unnamed Korean companies rose by 1.7 percentage points. Taiwanese firms Chimei and Grand Pacific Petrochemical were each assigned a 10.9pc duty, up by 0.1 percentage points from the provisional level. Formosa Chemical and Fibre received the highest rate at 21.7pc, unchanged from the provisional duty. Duties on other unnamed Taiwanese producers also remained unchanged at 21.7pc. The definitive measures follow provisional duties introduced in August 2025. Several producers told Argus the provisional duties did not provide enough of a deterrent to curb imports. During the investigation period, when imports had to be registered with EU customs, the commission found that volumes rose by 6pc on a monthly average basis before provisional duties were imposed. Import prices increased by 2-3pc in the same period. On this basis, it concluded that higher inflows at slightly firmer prices were not sufficient grounds to apply definitive duties retroactively. The definitive rates will apply from 12 February 2026. South Korea and Taiwan are Europe's two largest ABS suppliers. Europe imported about 195,000t of ABS from the two countries during January-November 2025, according to Global Trade Tracker (GTT). Imports in 2025 were broadly in line with previous years, averaging around 200,000 t/yr since 2021. The introduction of provisional duties in the third quarter did not appear to affect volumes, with third-quarter imports up by about 2pc on the year. Mid-fourth-quarter 2025 figures were roughly half of full fourth-quarter imports in 2024. By Sebastian du Plessis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
MAK to shift Rotterdam PTA/PET units to Oman
MAK to shift Rotterdam PTA/PET units to Oman
London, 29 January (Argus) — Germany's MAK Group will relocate purified terephthalic acid (PTA) and polyethylene terephthalate (PET) assets from its complex in Rotterdam to Oman's Sohar Port and Freezone. The move marks another step in the migration of polyester-chain capacity out of Europe as producers struggle with rising costs and sustained competitive pressure from Asia. MAK's subsidiaries Sohar Petrochemicals and Sohar International Minerachem signed an agreement with Oman's state owned OQ to assemble a $550mn integrated PTA–PET complex in Sohar using the repurposed equipment. The relocated facility will have a combined output of around 1.5mn t/yr and will receive long-term paraxylene supply from OQ. The company will import additional feedstocks such as monoethylene glycol (MEG) and acetic acid through Sohar Port and transport them via a dedicated pipeline network. The facility aims to supply markets across the Middle East, Africa, Asia and Europe. MAK acquired the assets in Rotterdam after Thailand's Indorama Ventures shut them in 2024 because the economics of running them in Europe had become untenable. The shift reflects a broader contraction of Europe's PTA and PET footprint, including closures in downstream PET resin and fibre markets. The project is part of OQ's co-ordinated downstream expansion strategy for Oman. Recent agreements aim to retain more value domestically by linking petrochemical feedstocks to local manufacturing capacity across polymers, chemicals and specialty derivatives through Sohar's integrated port and pipeline infrastructure. By Yohanna Pinheiro Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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