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 30th Mar 2020

PRC economy to quickly return to potential growth: PBOC

China's economy will swiftly return to its potential growth rate,...

Pic: Shutterstock

Apparel/Garments | On 30th Mar 2020

COVID FightBack: Malaysia takes steps to tackle impact

Malaysia will grant a six-month delay on most loan payments to ease...

Pic: Shutterstock

Retail | On 30th Mar 2020

NRF hails US House of Representatives consent to CARES Act

The National Retail Federation has welcomed the quick passage by the...

Interviews View All

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


March 2020

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


Advanced Search