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Ethylene prices firm due to tight supply

15
Apr '10
In the Asian ethylene markets on April 13, FOB Korea was quoted at US $1150-1200 per ton, essentially unchanged from last week. CFR Northeast Asia stood at $1200-1260 per ton, up $20 from last week and CFR South East Asia was $1150-1200/ ton, up $10-30 from last week.

Market prices of Asian ethylene spot were firm, mainly due to tight supply on account of ongoing maintenance of Japanese crackers. It was reported that, two new cracker plants in Southeast Asia are running their plants at 60-70 percent operational rates, which is in turn providing support to market price.

In the Northeast Asia market, offers for shipment in the second half of April and first half of May were $1260-1300 per ton (CFR Northeast Asia), but the baseline level of purchase intention stood at around $1200 per ton.

In the Southeast Asia ethylene spot market, prices were quoted at $1150-1200 per ton (CFR South East Asia) and some buyers were willing to pay $1200 per ton for purchasing cargo. Demand for shipment in the second half of April was steady, but supply was limited, sale intention was at $1250 per ton.

Fibre2fashion News Desk


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