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Ethylene spot prices rise in previous week
11
Jan '11
In Northeast Asia, ethylene prices rose about US $30 to US $1200-1230 / ton (CFR Northeast Asia), reflecting the strong level of consultation for cargo with shipment in late January/ early February.

In Southeast Asia, the price grew about US $10, because sales intention of local cargoes was firm, a deal was made at US $1100 / ton (FOB South East Asia).

In FOB trade in South-East Asia, two cargoes with shipment in late January were discussed at US $1100 / ton (FOB South East Asia) in the week. In the previous week, one cargo of 3000 tons was traded at US $1100 / ton with shipment in mid-January. 3000-3500 tons of cargo for shipment in late January was offered at US $1110-1200/ ton (FOB South East Asia).

Ethylene spot prices for shipment in late January and early February moderately rose in the just past week, due to the promotion from firm price of crude oil futures and increased naphtha price which rose up to US $ 880 / ton (CFR Japan).

Buying interest of cargo with shipment in late January and early February was better in China, although the majority of buyers in Asia were not eager to buy stocks, because they held adequate inventories, in addition, the tension of cargo supply from Middle East has eased.

Some traders said that ethylene price was firm in Europe, so the cargo from the Middle East may be shipped to Europe. Some buyers said offers were difficult to reach US $1,200 / ton (CFR Northeast Asia) or below the level.

Meanwhile, a supplier of Middle East cargo said that cargo tender with shipment in the second half of January would be started in next week.

Fibre2fashion News Desk

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