Home / Knowledge / News / Textiles / Crude oil prices put upward pricing pressure on petrochemicals
Crude oil prices put upward pricing pressure on petrochemicals
21
Jun '08
Surging crude oil prices are having a multiplier effect on the down stream petrochemical prices. This obliviously was expected with crude touching record levels of US $137 per barrel.

The steady increase in crude oil prices is putting upward pricing pressures and compelling down stream petrochemical players to also increase their prices. Ethylene for Northeast Asia was quoted around US $1630-1640 per metric ton this week compared to US $1550-1560 last week.

Pure Benzene prices offered by China based petrochemical enterprise also went up steadily. Jinzhou Petrochemical offered at 10300 Yuan or US $1497 per ton, up 500 Yuan or US $72.70 from the previous session. Benzene from Jilin Petrochemical and Daqing Petrochemical is quoting at 10400 Yuan or US $1512 per ton.

Naphtha is being offered at US $1116.77 per ton on (CIF) basis for Northwest Europe, which was 1030.94 per ton a fortnight ago a hike of US $ 86 per ton.

Propylene prices have also jumped from US $1655-1665 to US $1740-1750 per ton.

The mainstream price in domestic Chinese market for PSF 1.4 D which was in the range of 10950-11200 Yuan or US $ 1592-1628 per ton (deliver to buyer for cash or acceptance) last week is now hovering around at 11900-12100 Yuan or US $1730-1760, a climb of nearly US $130 in a fortnight.

Industry experts do not foresee a reduction in prices of these key feedstock raw materials in the immediate future on the back of ever climbing prices of crude oil.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search