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Ethylene prices dip in Asia, climb sharply in US markets
26
Feb '09
Ethylene prices which had been registering gains since the last weeks, continued to slide as in the past week in Asian markets, remained fairly stable in European markets, but rose sharply in the US markets when compared with prices prevailing in the previous week.

Last week for instance in the Asian region, ethylene prices for CFR Northeast Asia were quoted at US $685-695 per metric ton last week, which moved down to $675-685 per metric ton yesterday. Ethylene prices for CFR Southeast Asia, though continued to retain stability at $605-615 per metric ton.

Ethylene prices for the Far East region also fell from $655 per metric ton (FOB South Korea) last week to $635 per metric ton yesterday, while FOB Japan, too was quoted at the same price of $635 per metric ton, in also falling from a price of $655 per metric ton, quoted in the last week.

In the Europe region, prices of ethylene in keeping with the trend of last week also moved northwards. FD Northwest Europe moved to Euro 625-630 per metric ton from Euro 620-624 per metric ton though CIF Northwest Europe bucked the trend to stay flat at $755-765 per metric ton.

The US markets witnessed a trail blazing jump in ethylene prices, which again saw Houston prices moving up to US cent 33.130-33.380 per pound from US cent 28.255-28.505 per pound.

Fibre2fashion News Desk - China

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