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Ethylene contract price likely to gain by 10% this month
Jul '08
As quarterly prices of ethylene and other basic raw materials of petrochemical saw a sharp rise in Europe and the United States, July ethylene contract price of CPC Corporation, Taiwan and Formosa Petrochemical Corp will break through US $1,700 per ton, an increase as high as 10.3 percent. Some manufacturers expect that August PVC price for exports will have an opportunity to challenge US $1,300 per ton.

Ethylene contract price for the third quarter in northwest Europe has reached as high as $1,770 to $1,780 per ton. In northwest Europe, it is offered near about $130 –$140 higher than the spot price in Far East region.

Currently ethylene spot price in South Korea stood at $1,660 per ton, plus the contract price touched $1,770 in Europe; ethylene price of July contract from CPC Corporation, Taiwan is likely to reach $1700 per ton.

June ethylene price from CPC Corporation Taiwan and Formosa Petrochemical Corp was about $1,540 per ton. If July ethylene price rises to $1,700 per ton, the increase will be $160 per ton, or a rise as high as 10.3 percent.

Fibre2fashion News Desk - China

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