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

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

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

Johan Berlin
InvestKonsult Sweden AB

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

Bani Batra

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

Silvia Venturini Fendi
Fendi s.r.l

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search