Home / Knowledge / News / Textiles / Spot market of Asian ethylene firm
Spot market of Asian ethylene firm
22
Dec '10
In the just concluded week, spot market of Asian ethylene was firm amid steadiness, due to strong buying interest from China and rising costs of raw material of naphtha.

The market faced pressures on the week as of December 17, due to price drop of crude oil futures and naphtha, market trend of downstream high-density film grade polyethylene and PVC was unclear.

Naphtha price rebounded in the previous week as being supported by limited stock from the Middle East. Suppliers in Abu Dhabi were said to have provided 1-2 cargoes for shipment in the second half of December, but the cargoes were likely to be shipped to the West, not Asia.

Naphtha price ranged between US $ 865-867 / ton (CIF Japan) on Friday, up $11-12 from the previous week, due to strong demand, while MEG price rose $28-35 to $1053-1065 / ton (CFR China).

In Northeast Asia, ethylene price stabilized at $1170-1200 / ton (CFR Northeast Asia), reflecting the reported level of transaction, offers and bids. Traders say that China's buying interest may still be strong, because factories will make replenishment before the Spring Festival in February.

In addition, a PVC plant with a capacity of 3 million tons / year in Ningbo will start commercial operation in the second half of January and may require ethylene cargo for delivery in the first half of January. Market conditions before the Spring Festival are uncertain and demand is mainly concentrated in the second half of December.

FOB market was lukewarm. Most factories have completed their exports in December, but the negotiation for January cargo has not yet started. A South Korean company offered selling intention at US $1200/ ton (FOB Korea), while buying intention was US $1100/ ton (FOB Korea).

In Southeast Asia, market activity slowed down, as buyer's demand for the first half of January has been met; most traders were buying more competitive cargo from the Middle East.

Thai importers were on sidelines as a domestic cracking plant is expected to end maintenance this weekend.

Fibre2fashion News Desk

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Asim Dalal
Indo Count Retail Ventures

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

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Bani Batra

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

Sonam & Paras Modi
SVA

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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:
May 2017

May 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