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Ethylene spot prices gain in previous week
17
Aug '10
In the just concluded week, Asian spot ethylene prices rose between US $10-40 / ton, although large price differences between offers and bids continued to impede deals. Most buyers did not want to cater to sales intention at $950 / ton (CFR Asia) or higher.

But some merchants said that downstream producers of PE and MEG derivatives could accept ethylene price for more than $900 / ton.

Downstream derivatives market remained basically firm in the week. High-density PE film grade stabilized at $1100-1150 / ton (CFR China). PVC price rose $20 to $920-940 / ton (CFR China). Styrene price fell $10 to $1080-1090 / ton (CFR China). MEG price grew between $15-20 to $765-775 / ton (CFR China).

In the Northeast Asia market, ethylene stock valuation increased by $30-40 to $900-950 / ton (CFR Northeast Asia), however, trade was light. Purchase intention of most end-users was around $900 / ton (CFR Northeast Asia), but traders were interested in the range of $900-950(CFR Northeast Asia).

In Southeast Asia, ethylene spot price ascended by $30 to $880-900 / ton (CFR South East Asia). Selling intention was $900-950 / ton (CFR South East Asia), but purchase intention hovered around $850-900 / ton (CFR South East Asia).

In the FOB Southeast Asian market, purchase intention for cargo in the first half of September was around $840/ ton in early week, but sellers expected higher price, so no deal reached.

Fibre2fashion News Desk

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