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Ethylene spot price goes from steady to soft
Feb '10
In the week, Asian ethylene spot prices went from steady to soft. After a week-long Lunar New Year holiday, buyers have returned to the market, so the focus is expected to be on the market trend in China.

In the reported week, price intention of high-density film grade PE products was steady, due to holiday effects. Traded price of High-density film grade PE products ranged in between US $1250-1350 per ton (CFR China), while MEG stood at $980-985 per ton (CFR China).

Price intention of ethylene was stable at $1280-1300 per ton (CFR China), while PVC price was steady at $970-1020 per ton (CFR China).

In the Northeast Asian market, intention of ethylene spot lowered by $10 per ton to $1280-1300 per ton (CFR Northeast Asia), reflecting lack of trading interest in the market.

Low-end purchase intention from Korea was at $1200 per ton (CFR Northeast Asia), but some traders kept price close to $1300 per ton (CFR Northeast Asia).

In the Southeast Asian market, spot price fell $10 per ton, high-end price was at $1300-1330 per ton (CFR South East Asia), but trading was sporadic and bargaining level declined.

Buyers confirmed that sales intention from traders was about $1300 per ton (CFR South East Asia), for arrivals in the second half of March. Others displayed buying intention at $1250 per ton (CFR South East Asia), or lower.

It is reported that 5,500 tons of cargo from the Middle East was sold to Indonesia, for arrival in mid-March, while 2000-3000 tons of cargo was traded at $1300 per ton (CFR South East Asia), for arrival in the first half of March, but the transactions have not yet been confirmed.

Fibre2fashion News Desk

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