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Worldwide ethylene markets witness mixed trends
16
Apr '09
If the previous few days and weeks saw prices of major petrochemicals, including ethylene moving in the northwards direction in major markets of the globe like Asia, Europe and US, yesterday, it was time for prices of ethylene to change course in a few markets.

Ethylene prices for CFR Northeast Asia descended from US $676-686 per metric ton on April 9 to $741-751 per metric ton yesterday while ethylene prices for CFR Southeast also followed suit in falling to $671-681 per metric ton from 681-691 per metric ton.

However, ethylene prices for the Far East region, (FOB South Korea) and (FOB Japan), continued to ascend in the fourth consecutive week and grew from $685 per metric ton to $705 per metric ton respectively, up by $20 per ton, when compared to the rise of $45 per metric ton registered in the previous week.

However, ethylene prices in the FD Northwest European markets which had smartly recovered on April 9, after having dipped for three consecutive weeks, once again fell to €545-550 per metric ton from €575-580 per metric ton, though; CIF Northwest Europe remained flat at last weeks level of $650-660 per metric ton.

Prices of ethylene in the US market of Houston after also having soared for two weeks once again fell to US cent 24.005-24.255 per pound, when compared to US cent 24.880-25.130 per pound prevailing on April 9.

Fibre2fashion News Desk - China

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