Industry experts are of the opinion that by the year 2010, Middle East region will become the world's largest ethylene supply areas with new devices gradually put into operation.
It is expected that overall ethylene capacity in Middle East will reach 23 million tons per year within next two years. Low raw material costs, adequate supply of natural gas and abundant capital flows will help the ethylene industry in Middle East to develop rapidly.
Starting from 2000, till 2012, Saudi Arabia in the Middle East alone will add new ethylene production capacity of 13 million tons per year.
It is estimated that the global proportion of ethylene production capacity in Middle East region will increase from 11.5 percent in 2007 to 18.2 percent by 2010.
On the other hand, Chinese Government also plans to double its ethylene production capacity to reach over 18 million tons by the year 2010.
On May 14, Ethylene prices showed a rising trend for almost all the importing countries. Prices quoted for Asia and United States saw a slight growth compared to the earlier week.
Ethylene prices in Asia region:
Ethylene, CFR Northeast Asia, at US $1450-1460 per metric ton.
Ethylene, CFR Southeast Asia, at US $1415-1425 per metric ton.
Prices in the United States:
Ethylene, FD US Gulf, at US cent 56.8-57.0 per pound.
Propylene (refining level) FAS Houston at US cent 64.5-64.8 per lb.
Fibre2fashion News Desk - China
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