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Ethylene market in US plummets sharply
12 Mar '09
2 min read
The downtrend witnessed in prices of ethylene in Northeast Asian markets seems to have been arrested at least in this week after dipping for five consecutive weeks. The ethylene market in this region was dipping with each passing week, though Southeast Asia market seems to be stable for the last three weeks.
Ethylene prices for CFR Northeast Asia were quoted at US $675-685 per metric ton the same as in the previous week and ethylene prices for CFR Southeast Asia, continued to retain stable for the third consecutive week at $605-615 per metric ton.
Ethylene prices for the Far East region, (FOB South Korea) and (FOB Japan), also continued to remain stable and in turn retained prices quoted in the previous week. Ethylene prices in both the markets were quoted at $595 per metric ton.
In the Europe region, prices of ethylene in FD Northwest Europe stayed flat, but those of CIF Northwest Europe fell by 6-7 percent. FD Northwest Europe continued to be quoted at €625-630 per metric ton and CIF Northwest Europe fell to $705-715 per metric ton.
But the biggest fall was registered by the US markets which had witnessed trail blazing jump in ethylene prices two weeks back, but fell sharply in this week to US cent 24.005-24.255 per pound from last weeks level of US cent 31.255-31.505 per pound.
Ethylene prices for CFR Northeast Asia were quoted at US $675-685 per metric ton the same as in the previous week and ethylene prices for CFR Southeast Asia, continued to retain stable for the third consecutive week at $605-615 per metric ton.
Ethylene prices for the Far East region, (FOB South Korea) and (FOB Japan), also continued to remain stable and in turn retained prices quoted in the previous week. Ethylene prices in both the markets were quoted at $595 per metric ton.
In the Europe region, prices of ethylene in FD Northwest Europe stayed flat, but those of CIF Northwest Europe fell by 6-7 percent. FD Northwest Europe continued to be quoted at €625-630 per metric ton and CIF Northwest Europe fell to $705-715 per metric ton.
But the biggest fall was registered by the US markets which had witnessed trail blazing jump in ethylene prices two weeks back, but fell sharply in this week to US cent 24.005-24.255 per pound from last weeks level of US cent 31.255-31.505 per pound.
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