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Ethylene prices to slide further – Experts

08
Oct '08
Recent reports show a significant slowdown in global petrochemical industry. With shrinking demand, the drop in raw-material prices was inevitable. Besides, the new ethylene production capacities worth millions of tons across the Middle East, India and Mainland China are expected to start operating this quarter. The substantial surge in supply will only add to the current downtrend.

Taiwan petrochemical industry points out that with ethylene price falling officially below the mark of US $1000 per ton, the approach of tough times for petrochemical industry will accelerate.

According to the latest spot offers in the Far East, the price of ethylene has declined to $940-950 per ton this week, sliding below $1000 for the first time this year.

Last week the price of naphtha fell to new low of $764 per ton, shocking the petrochemical industry.

Taiwan petrochemical industry experts predict the ethylene prices will plunge further. They stress that the price fluctuations in ethylene and other petrochemical products will continue untill international oil rates stabilize at a reasonably low level.

Fibre2fashion News Desk - China


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