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Worldwide ethylene prices loose steam
16
Jul '09
Ethylene prices for CFR Northeast Asia, which were in the past few days recording phenomenal gains, slowed down in their momentum. On last Wednesday, Ethylene CFR Northeast Asia had gained by nearly US $120 per ton, over that of its closing of the previous Wednesday.

On July 15, CFR Northeast Asia grew by just $10 per ton when compared with the closing on July 8 to inch up from $1070-1072 per metric ton to $1080-1082 per metric ton. However, ethylene prices for CFR Southeast fell back from $1065-1067 per metric ton to $1045-1047 per metric ton.

Ethylene prices in the FD Northwest European markets, which had fallen on the previous Wednesday, however, moved northwards on July 15, in growing from €620-625 per metric ton to €650-655 per metric ton, while ethylene prices for CIF Northwest Europe cruised marginally from $850-860 per metric ton to $855-865 per metric ton.

On the other hand, prices of ethylene in the US market which have been falling since the last three consecutive weeks continued the trend to dip from US cent 21.250-21.500 per pound to US cent 19.880-20.130 per pound.

Fibre2fashion News Desk - China

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