Home / Knowledge / News / Textiles / Ethylene Asian buyers remain cautious
Ethylene Asian buyers remain cautious
23
Jun '10
Ethylene spot market in Asia was active in the past week. Crude oil price firmed to US $75 / barrel, naphtha price increased to high level, sending support to ethylene market, some sellers were encouraged to expect that ethylene price may bottom out.

Ethylene price has hit an 8-month low, but buyers remain cautious, as market conditions of downstream derivatives are poor.

The price of US $900/ ton seems to be an important psychological level to the market, further slip of ethylene price could lead to continued reduction of operating rate of cracking plants. Most Asian naphtha crackers are still operating at 90-100 percent capacity this month.

Arya Sasol Petrochemical Company in Iran has delayed the closure of the cracker with production capacity of 1 million tons /year in Assaluyeh region for maintenance, as another plant in Iran has closed.

Marun Petrochemical Company will restart the cracker with 1.1 million tons of capacity / year in Bandar Imam after June 20, the plant was closed for overhaul in early June. Arya Sasol plant will be shut down after restarting the plant of Marun Petrochemical Company.

Downstream derivatives markets went soft. Price of polyethylene for high-density film fell $50 to $1030-1100/ ton (CFR China). Styrene price fell $25-30 to $1045-1055/ ton (CFR China).

MEG price fell $5 to $705-715/ ton (CFR China). PVC price remained stable at $900-930 / ton (CFR China).

In the Northeast Asia market, spot market price of ethylene fell $10 to $900-950/ ton (CFR Northeast Asia).

In FOB Northeast Asian market, buying intention from traders is $800/ ton (FOB China) at the low level, but selling intention is close to $900.

Selling intention of manufacturers in other region is till $1000 / ton (FOB Korea), but the price is not attractive to traders. Purchase intention is mostly $800 / ton (FOB Korea) at the low level.

In Southeast Asia, ethylene spot price fell by $10 to $890-940 / ton (CFR South East Asia). Most buyers have completed requirements for July. Buyer's purchase intention was $900 / ton (CFR South East Asia), selling intention was $940-950/ ton (CFR South East Asia)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search