Home / Knowledge / News / Textiles / Spot ethylene prices slip to two-month low
Spot ethylene prices slip to two-month low
02
Nov '10
Ethylene Asian spot markets fell to a two-month low in the past week, led by the decline in Northeast Asian markets due to abundant supply and limited storage space.

In Northeast Asia, spot price of ethylene fell US $40-80 to $990-1020/ ton (CFR Northeast Asia) on the week, reflecting the trading price in Taiwan area and bargaining level. In Southeast Asia, it dipped by $50 to $1000-1030 / ton (CFR South East Asia).

Although prices of raw material; naphtha rose, ethylene cargo supply from the Middle East and Asia had greater impact over ethylene spot prices. Two ships of 4,000-5,000 tons from Abu Dhabi and Saudi Arabia to be loaded in the first half of November weakened the market, and caused price decline of ethylene.

Some traders believe that these shipments are likely to be shipped to India or Europe, where prices are currently the highest in the world, supported by the strike of French workers and delayed restart of plants, as well as solid demand from downstream sector.

As for the market outlook, some traders expect that ethylene price may further decline, as a number of buyers in Northeast Asia have stocked up on their November needs, storage capacity is limited, therefore it is difficult to accept more spot cargoes.

However, some other traders think that ethylene price may be on the verge of bottoming out, because downstream market is solid. The narrow spread between naphtha and ethylene has hurt production profits of crackers.

Downstream market appeared mixed. High-density film grade polyethylene rose US $20 to $1220-1270/ ton (CFR China), but MEG price fell $5 to 960-965/ ton (CFR China). PVC price remained stable at $960-990 / ton (CFR China).

Fibre2fashion News Desk

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

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 ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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:
March 2017

March 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