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Ethylene prices move along course set by other petrochemicals
09
Apr '09
In tune with an across the board increase in petrochemical prices, market prices of ethylene too moved along the course adopted by its contemporaries in the petrochemical sector. On April 1, ethylene prices had either moved marginally or stayed stable in most of the markets.

But yesterday the scene had completed changed vis-à-vis that of April 1. A spurt in ethylene prices was noticeable across most global markets like Asia, US and Europe, except for CIF Northwest Europe. Analysts attribute this to a closure of a few crackers leading to a short supply of the raw material.

Ethylene prices for CFR Northeast Asia ascended from US $676-686 per metric ton on April 1, to $771-781 per metric ton yesterday while ethylene prices for CFR Southeast Asia also augmented from $595-605 per metric ton to 681-691 per metric ton.

Ethylene prices for the Far East region, (FOB South Korea) and (FOB Japan), also maintained their ascent in the third consecutive week and grew from $638 per metric ton to $685 per metric ton respectively, up by $47 per ton compared to the rise of $8 per metric ton, registered in the previous week.

However, ethylene prices in the European region which had journeyed southwards in the previous three weeks, recovered on April 9, though albeit marginally. FD Northwest Europe grew from €571-576 per metric ton to €575-580 per metric ton, though; CIF Northwest Europe plummeted from $691-696 per metric to $650-660 per metric ton.

Prices of ethylene in the US market of Houston have also soared for the second consecutive week after having slipped for three previous weeks to grow to US cent 24.880-25.130 per pound from US cent 24.005-24.505 per pound on Wednesday.


Fibre2fashion News Desk - China

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