Home / Knowledge / News / Textiles / Ethylene prices gain in second straight week

Ethylene prices gain in second straight week

20
Jan '10
Asia ethylene spot prices in the previous week gained for the second straight week, due to inadequate supply, but as crude oil prices fell below US $80 per barrel, buyers were cautious. As tight supply of ethylene continued to suppress negotiation level, trade volume was limited this week.

Sellers felt that price would continue to rise, due to strong prices of ethylene derivatives, and upcoming overhaul of local crackers. South Korean naphtha crackers plan to expand production capacity to 900,000 ton / year next month.

In addition, Iran cracking plants are operational at low rates, leading to a limited export volume, which is also one of the factors for tight supply in the market. Market sources reveal that, capacity utilization rate of Arya Sasol and Jam cracker factories is at 50-55 percent.

Generally higher prices in Asia are expected to open arbitrage window. Unconfirmed sources report that a Mexican cargo of 4,000-5,000 tons to be loaded in the second half of February will flow into Asian market through tenders.

Downstream derivatives market, high-density polyethylene (film grade) remained stable at $1,270-1,360 per ton (CFR China), MEG stood at $1,030-1,055 per ton (CFR China). Styrene price stabilized at $1,300-1,320 per ton (CFR China) and PVC price grew by $40-50 to $970-1,020 per ton (CFR China).

Unconfirmed reports also suggest that a (FOB South Korea) deal was made at $1200 per ton. Earlier in the reporting week, sellers quoted at $1250 per ton (FOB Korea) and February cargoes were quoting at $1300 per ton, but no deal was reported.

In the South East Asian market, spot price firmed up by $50-80 to $1,330-1,350 per ton (CFR South East Asia). On Friday one cargo of 3,000-3,500 tons to be loaded in the first half of February was sold to one dealer at $1,375 per ton (FOB).

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 6th May 2021

China indefinitely suspends economic dialogue with Australia

The National Development and Reform Commission (NDRC) of China has...

Pic: Shutterstock

Retail | On 6th May 2021

Ireland announces new €5 million COVID-19 Online Retail Scheme

Ireland has launched a new round of the COVID-19 Online Retail Scheme ...

Pic: Shutterstock

Textiles | On 6th May 2021

Cotlook A index expected to drop by 6.18% by June: TexPro

The Cotlook A index is expected to decline by 6.18 per cent in June...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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

Leave your Comments


April 2021

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


Advanced Search