Home / Knowledge / News / Textiles / Ethylene spot firms up in previous week
Ethylene spot firms up in previous week
21
Sep '10
Market valuation of Asian ethylene spot firmed up in the just concluded week. Consultation level of shipment of cargo in second half of October was higher, due to slowdown of supply in Northeast Asia.

Formosa Petrochemical delayed restarting operations of its number -1 cracker, due to higher level of negotiation price, offers were strong, but transactions were scarce, traders said it was not because of higher offers, but limited supply.

Sales intention went up to US $1100-1150 / ton (CFR Northeast Asia), but purchase intention was around $1,000 / ton (CFR Northeast Asia).

Some traders were still outside waiting and watching, and are expected to make offers after, a better picture of the situation of Formosa cracker is revealed in the next few weeks. Meanwhile, cargo supply from the Middle East is limited.

One trader had said earlier that, there are 12 ships, each carrying 4500-5000 tons of Iranian ethylene cargo, of which, two ships are headed for Western Europe, 10 ships are destined for Southeast and Northeast Asia. In addition, another 3 ships will go to Taiwan and China. He also added by saying that, there are still more, unsold cargoes.

According to experts, the spot prices may have reached the upper limit, because naphtha prices have declined and demand from European buyers has reduced, as well as, derivatives prices are basically stable.

In the last week, downstream derivatives market was generally higher. MEG price is expected to remain strong at $793-803/ ton (CFR China), up $3 from the closing price of its previous week.

But PVC price was stable at $950-970 / ton (CFR China) and high-density film grade polyethylene remained stable at $1120-1170 / ton (CFR China).

In the Northeast Asia market, stock price rose $10-20 to $1000-1040 / ton (CFR Northeast Asia). Prices also rose for cargoes for arrivals in the second half of October, due to strong buying interest, limited stock and lack of firm offers.

China's domestic demand remained strong. Purchase intention was $1000 / ton (CFR China). However, the market will slow down during the Mid-Autumn Festival holiday and National Day holiday period.

Some derivatives manufacturers in East China and North China are maintaining operating rates at between 60-90 percent, as a result of power restriction by Government.

Negotiation for FOB price of South Korean cargo was light, due to stock shortage. Purchase intention was $1000 / ton (FOB Korea). Price range was estimated to narrow to $980-1000 / MT (FOB Korea).

In Southeast Asia, spot price rose by $10 to $950-980 / ton (CFR South East Asia). Sales intention was $1000 / ton (CFR South East Asia), October supply of spot cargoes was limited.

In the FOB Southeast Asian market, although a local company sold a single October cargo at $1,050 / ton (FOB Southeast Asia) in the previous week, sales intention was still around $900 / ton, level.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search