Home / Knowledge / News / Textiles / Ethylene Asian buyers remain cautious

Ethylene Asian buyers remain cautious

23
Jun '10
Ethylene spot market in Asia was active in the past week. Crude oil price firmed to US $75 / barrel, naphtha price increased to high level, sending support to ethylene market, some sellers were encouraged to expect that ethylene price may bottom out.

Ethylene price has hit an 8-month low, but buyers remain cautious, as market conditions of downstream derivatives are poor.

The price of US $900/ ton seems to be an important psychological level to the market, further slip of ethylene price could lead to continued reduction of operating rate of cracking plants. Most Asian naphtha crackers are still operating at 90-100 percent capacity this month.

Arya Sasol Petrochemical Company in Iran has delayed the closure of the cracker with production capacity of 1 million tons /year in Assaluyeh region for maintenance, as another plant in Iran has closed.

Marun Petrochemical Company will restart the cracker with 1.1 million tons of capacity / year in Bandar Imam after June 20, the plant was closed for overhaul in early June. Arya Sasol plant will be shut down after restarting the plant of Marun Petrochemical Company.

Downstream derivatives markets went soft. Price of polyethylene for high-density film fell $50 to $1030-1100/ ton (CFR China). Styrene price fell $25-30 to $1045-1055/ ton (CFR China).

MEG price fell $5 to $705-715/ ton (CFR China). PVC price remained stable at $900-930 / ton (CFR China).

In the Northeast Asia market, spot market price of ethylene fell $10 to $900-950/ ton (CFR Northeast Asia).

In FOB Northeast Asian market, buying intention from traders is $800/ ton (FOB China) at the low level, but selling intention is close to $900.

Selling intention of manufacturers in other region is till $1000 / ton (FOB Korea), but the price is not attractive to traders. Purchase intention is mostly $800 / ton (FOB Korea) at the low level.

In Southeast Asia, ethylene spot price fell by $10 to $890-940 / ton (CFR South East Asia). Most buyers have completed requirements for July. Buyer's purchase intention was $900 / ton (CFR South East Asia), selling intention was $940-950/ ton (CFR South East Asia)

Fibre2fashion News Desk - India


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

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Joachim Maier,

Joachim Maier

Switzerland-based Uster Technologies AG is the leading high technology...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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