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

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Varinder Singh Jawanda
Trendy Bharat

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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