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Ethylene prices surge in Asia & US last fortnight
22
Mar '14
The average price of ethylene increased in the Asian and the US markets in the last fortnight ending March 15, 2014, compared to the previous fortnight ending February 28.
 
In Asian markets, the increase in prices of ethylene was due to limited availability of product coupled with bullish buying trend in the region.
 
In Japan, the average ethylene price in the last fortnight was US$ 1425/ton, registering a rise of 2.89 percent over the average price of $1385/ton in the previous fortnight. However, the price was assessed at $1395/ton on March 21, 2014.
 
On a year-on-year basis, the average price of ethylene in Japan in the last fortnight soared by 14.92 percent, as the average price was $1240/ton during the corresponding period of last year.
 
In Far East Asian markets, the average price of ethylene rose by 1.77 percent to $1435/ton in the last fortnight, as against the average price of $1410/ton in the previous fortnight.
 
In Southeast Asia, the average price of ethylene surged up by 3.19 percent to $1455/ton in the last fortnight, compared to the average price of $1410/ton in the previous fortnight. On March 21, 2014, the price was assessed at $1440/ton.
 
Firm energy market pushed the average price of ethylene marginally to 52.50 cents/pound in the last fortnight in the US market.
 
In Europe, the average price of ethylene in the last fortnight was $1245/ton, showing a marginal decrease of 0.4 percent compared to the average price of $1250/ton in the previous fortnight, due to weak upstream energy value coupled with sluggish downstream demand. Ethylene contract prices for March were settled at €1180/ton FD North West Europe levels, which were down by €20/ton from February level.
 

Fibre2fashion News Desk - India


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