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Ethylene prices witness contrary trends in worldwide markets
19
Feb '09
Ethylene prices which have been registering gains since the last weeks, continued to so in this week too, but at the same time prices of the raw material fell in one region, while it was steady in another region, when compared to prices of the previous week.

Last week for instance in the Asian region, ethylene prices for CFR Northeast Asia was quoted at US $705-715 per metric ton last week, it moved down to $685-695 per metric ton on Wednesday. Ethylene prices for CFR Southeast Asia, remained stable at $605-615 per metric ton as compared to previous week.

Ethylene prices for the Far East region also stayed flat when compared with those of last week. On Wednesday, FOB South Korea was traded at $655 per metric ton and FOB Japan, too was quoted at the same price of $655 per metric ton.

In the Europe region, prices of ethylene surprisingly rebounded contrary to the trends of those witnessed in prices quoted for CFR Northeast Asia. FD Northwest Europe moved to Euro 620-624 per metric ton from Euro 600-605 per metric ton and CIF Northwest Europe to $755-765 per metric ton from $705-715 per metric ton.

A trend similar to those prevailing in Europe was also witnessed in prices of ethylene traded in Houston, US. Compared to US cent 25.50-25.88 per pound quoted in the last week, it moved sharply up by more than 10 percent to US cent 28.255-28.505 per pound

Fibre2fashion News Desk - China

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