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Rising feedstock price & tight supplies boost petrochemical prices
06
Apr '09
The Asian Petrochemical and Intermediates market is witnessing a rally since the last few days, which is also expected to continue in this week too. Market analysts attribute the rise in prices due to a tight supply situation created by closures of a few plants and rising raw material prices.

This surge in prices has come from two key petrochemical consumers in the region; China and India. On one end of the Olefin and its derivatives price spectrum, Ethylene (CFR NE Asia) rose by 2.90 percent while that of MEG (CFR CMP) has augmented by an astounding 16 percent.

Ethylene (CFR NE Asia) grew from US $680-700 per ton to $700-720 per ton between 27th march and 3rd April to gain by an average of 2.9 percent. On the other hand, Propylene (FOB Korea) augmented from $750-790 per ton to $810-870 per ton, up an impressive 9 percent.

Prices of Benzene registered the lowest gains amongst all petrochemicals and inched up from $580-590 per ton to $585-595 per ton, up a modest 0.86 percent. MEG prices recorded awesome gains in jumping from $455-465 per ton to $530-543 per ton, up by 6.63 percent.

PTA, the other key petrochemical raw material ascended by 9.15 percent to leap from $760-770 per ton to $825-845 per ton while Paraxylene mounted by 8.58 percent in moving to $1020-1030 per ton on April 3 from $938-958 per ton on March 27.

Fibre2fashion News Desk - India

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