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Spot ethylene prices climb in previous week
30
Nov '10
Spot market price of ethylene in Asia rose US $50-70 / ton in the past week, while the second cracker of Taiwan's Formosa Petrochemical Corporation restarted, but suppliers maintained their price at $1100 / ton (CFR Northeast Asia), due to firm cost of naphtha.

Limited supply is expected to further support market bargain. Holidays in the Middle East have resulted in short supply from the region. China will reduce ethylene production in December, which will also give support to negotiation level in the market.

Naphtha price closed at $806.25-808.25 / ton (CFR Japan) on Friday, up $2.25 / ton, from the previous trading day.

However, some end-users said they would cut operating rate of production plants of downstream derivative products and their purchase intention was $1050 price / ton (CFR Northeast Asia).

In the derivatives market, price of high-density film grade polyethylene remained stable at $1230-1280 / ton (CFR China) and PVC price narrowed to $900-1020 / ton (CFR China). In Northeast Asia, ethylene price rose $70-90 to $1090-1120 / ton (CFR Northeast Asia).

In Southeast Asia, CFR South East Asia price remained at US $1000-1030 / ton, due to ample inventories.

Fibre2fashion News Desk

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