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Ethylene spot prices perk up in US

24
Dec '08
Sliding crude has been a concern for manufacturers of down stream products as it was affecting prices for the same. However, US spot prices of ethylene perked up this week due to continuous olefin cracker outages.

During the past few months, on the back of slower demand, major ethylene producing companies in the US slashed their production to avoid excess inventories.

On December 23, spot ethylene prices gained near about 2.5 cents per lb. December bids, during the morning session stood at 18.50 cents per lb against offers at 21 cents per lb at both locations.

For January shipments prices moved higher with prices quoted at 19.25 cents per lb against offers at 21 cents per lb.

In the European region, ethylene prices were quoted at US $510 per ton, North West region.

In Asia, prices were quoted at:

Olefins Ethylene FOB Korea at US $540 per ton.
Olefins Ethylene FOB Japan at US $540 per ton.
Ethylene CFR South East Asia US $580 per ton.

Fibre2fashion News Desk - India


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