全球化工市场要情 2026年第19期(总43期)

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全球化工市场要情

Global Chemical Market Highlights

2026年第19期（总43期）

Issue #19, 2026 (Total 43)

中文版

一、

全球化工市场要情

埃克森美孚关闭其新加坡1号乙烯装置

近日，埃克森美孚正式关停新加坡裕廊岛1号乙烯装置（90万吨/年），较原计划提前近一个月落地。新加坡基地拥有两套乙烯裂解装置，总产能190万吨/年，此次关停1号装置后，仅剩2号装置（100万吨/年）运行。这是继今年2月份埃克森美孚提前关停苏格兰83万吨/年乙烯工厂后，其年内第二次大型产能收缩，目前其全球累计削减乙烯产能173万吨/年。

巴斯夫宣布新的转型项目

5月20日，巴斯夫宣布一项新的“核心转型”（CoreShift）项目，该项目包括精简业务组合、出售非核心资产、剥离农业业务以及裁员计划，涉及巴斯夫合计年销售额约400亿欧元（约合3163亿元人民币）的四大核心业务领域：化学品、材料、工业解决方案以及营养与护理。据悉，这一项目的目标是到2029年（与2024年相比）将核心业务的净现金固定成本节省高达20%。

巴斯夫出售硅酸盐业务

5月20日，巴斯夫宣布将硅酸盐业务（包括位于杜塞尔多夫/霍尔特豪森工厂的相关资产）出售给PQ公司，预计该交易将于2026年下半年完成。目前，巴斯夫硅酸盐业务的运营将保持不变，交易完成后，两家公司预计客户和合作伙伴将迎来无缝过渡。PQ公司是一家业务遍及全球的硅酸盐、二氧化硅及其衍生产品供应商。硅酸盐是一种用途广泛的无机材料，广泛应用于日常和工业领域，包括橡胶和“绿色轮胎”行业、油漆和涂料、岩土工程应用以及洗衣粉和清洁产品等。

二、

主要化工产品市场动态

石脑油CFR日本下跌13.4%至865.9美元/吨

装置及市场动态：本周，亚洲石脑油市场连续大幅下挫，成本支撑减弱、基本面宽松。阿联酋和俄罗斯石脑油供应缓解供应担忧；乙烯裂解装置利润不佳，东北亚石脑油裂解装置开工率维持低水平，部分裂解企业使用更多替代原料，导致市场需求下降。

乙烯CFR东北亚下跌7.7%至1061美元/吨

装置及市场动态：本周，亚洲乙烯价格继续下挫。周内国际原油及亚洲石脑油市场震荡偏弱，亚洲乙烯市场商谈随之走低。买方持续试探低位，而卖方心态谨慎，不愿过快跟随买盘大幅降价，场内鲜有新增实质性买卖盘商谈。

纯苯FOB韩国下跌3%至1035.1美元/吨

装置及市场动态：本周，亚洲纯苯持续单边下行，欧美先稳后跌。亚洲受原油、石脑油大跌拖累，成本支撑塌陷，叠加中东局势缓和、供应宽松、下游亏损、采购清淡，内外盘同步走低。欧美纯苯跟随原油波动，地缘缓和拖累原油大跌，成本走弱带动价格回落，下游苯乙烯疲软，市场整体偏弱。

对二甲苯CFR中国下跌6.8%至1118.8美元/吨

装置及市场动态：本周，全球 PX 市场震荡走弱。亚洲市场前期受原油强势及装置检修支撑僵持，后期随着原油回落、下游需求持续疲软、现货采购乏力，叠加期货走弱拖累氛围。欧美 PX 同步跟随亚洲下行。

English Version

Ⅰ、

Global Chemical Market Brief

ExxonMobil Shuts Down Its No. 1 Ethylene Plant in Singapore

Recently, ExxonMobil officially shut down its No. 1 ethylene plant (900,000 tonnes/year) on Jurong Island, Singapore, nearly a month ahead of the original schedule. The Singapore facility has two ethylene cracking units with a total capacity of 1.9 million tonnes/year. Following the shutdown of the No. 1 unit, only the No. 2 unit (1 million tonnes/year) remains operational. This marks ExxonMobil’s second major capacity reduction this year, following the early shutdown of its 830,000-tonne/year ethylene plant in Scotland in February. The company has now reduced its global ethylene capacity by a cumulative 1.73 million tonnes/year.

BASF Announces New Transformation Project

On May 20, BASF announced a new “CoreShift” project, which includes streamlining its business portfolio, selling non-core assets, divesting its agricultural business, and implementing layoffs. The project involves four core business areas—Chemicals, Materials, Industrial Solutions, and Nutrition & Care—which together generate approximately €40 billion (about RMB 316.3 billion) in annual sales. The project aims to achieve net fixed cost savings of up to 20% in net cash terms for its core businesses by 2029 (compared to 2024).

BASF Sells Silicate Business

On May 20, BASF announced the sale of its silicate business, including related assets at the Düsseldorf/Holthausen plant, to PQ Corporation. The transaction is expected to be completed in the second half of 2026. Currently, BASF’s silicate operations will remain unchanged. After the transaction closes, the two companies expect a seamless transition for customers and partners. PQ Corporation is a global supplier of silicates, silica, and their derivatives. Silicates are versatile inorganic materials widely used in everyday and industrial applications, including rubber and “green tyre” manufacturing, paints and coatings, geotechnical engineering, and laundry detergents and cleaning products.

Ⅱ、

Market Dynamics of Major Chemical Products

Naphtha CFR Japan fell by 13.4% to $865.9/tonne

Plant and Market Dynamics: This week, the Asian naphtha market experienced a sustained sharp decline due to weakening cost support and loose fundamentals. Naphtha supplies from the UAE and Russia eased supply concerns. Poor ethylene cracker margins kept operating rates low in Northeast Asia, with some cracker operators using more alternative feedstocks, leading to lower market demand.

Ethylene CFR Northeast Asia fell by 7.7% to $1,061/tonne

Plant and Market Dynamics:This week, Asian ethylene prices continued to decline. Weak fluctuations in international crude oil and Asian naphtha markets dragged down ethylene negotiations. Buyers continued to test lower price levels, while sellers remained cautious and reluctant to cut prices aggressively in line with bids, resulting in few new substantive transactions in the market.

Benzene FOB South Korea fell by 3% to $1,035.1/tonne

Plant and Market Dynamics: This week, Asian benzene prices continued a unilateral downward trend, while European and U.S. markets first stabilised, then declined. Asia was dragged down by sharp drops in crude oil and naphtha, leading to collapsed cost support. Combined with easing tensions in the Middle East, loose supply, downstream losses, and weak purchasing, both domestic and international prices moved lower. European and U.S. benzene followed crude oil fluctuations, with easing geopolitical tensions dragging crude oil lower, weakening costs and pulling prices down. Downstream styrene remained weak, and the overall market was soft.

Paraxylene CFR China fell by 6.8% to $1,118.8/tonne

Plant and Market Dynamics:This week, the global PX market weakened with volatility. The Asian market was initially supported by strong crude oil prices and plant turnarounds, but later weakened as crude oil retreated, downstream demand remained persistently weak, spot purchasing lacked momentum, and weaker futures dampened sentiment. European and U.S. PX markets followed Asia lower.