Home / Knowledge / News / Textiles / Price trends of ethylene & its derivatives weaken

Price trends of ethylene & its derivatives weaken

07
Jul '10
In the just concluded week, Asian ethylene market weakened. However, the unexpected maintenance of a polyethylene plant with a capacity of 600,000 tons / year in Singapore caused some sales of spot cargo.

Ethylene price remained stable at the psychological level of US $900 / ton (CFR Northeast Asia), but some industry sources say the market may not have bottomed out, as operating rate of Asian naphtha crackers is still higher than 90 percent.

Price drop of upstream naphtha and crude oil makes buyers cautious; most suppliers in the region prefer to sell cargo at formula price, as spot market price is too low at present.

Widening spread between Northeast Asia and Southeast Asia has triggered a number of arbitrage opportunities. 3,000 tons of cargo with shipment in the second half of July was sold in Northeast Asia at $900/ ton (CFR).

However, Chinese import demand is expected to increase by the end of July, as plastic manufacturers will replenish stocks in preparation for production season in August.

Derivative market prices generally lowered in the week. High-density film grade polyethylene fell $10-30 to $1020-1070/ ton (CFR China). MEG prices fell $10-15 to $700-710 / ton (CFR China). Styrene price fell $30, to US $990-1010 / ton (CFR China). PVC price fell $10, to US $840-860 / ton (CFR China).

In the Northeast Asia market, spot price of ethylene ranged between $900-910/ ton (CFR Northeast Asia) in the week. In FOB Northeast Asian market, 3000-5000 tons of cargo for shipment in July was traded at $850 / ton (FOB China), but has not yet been confirmed.

In Southeast Asia, ethylene spot market prices fell $65-70 to $800-850 / ton (CFR South East Asia). Sales intention was about $850/ ton (CFR South East Asia) in the week, while purchase intention was $800/ ton.

Fibre2fashion News Desk


Must ReadView All

Pic: Shutterstock

Textiles | On 31st Mar 2020

Bangladesh seeks $1 bn from IMF, WB to face COVID-19

Bangladesh has recently sought $1 billion in support from the...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Vietnam textile-garment sector may lose VND11 trn: Vinatex

Vietnam's garment and textile industry may lose up to VND 11 trillion ...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Cambodia to explore FTA with EAEU with Russian help

Cambodian deputy prime minister Hor Namhong recently met Russian...

Interviews View All

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Ian Burn,

Ian Burn

Camira's expertise goes from farm to fabric and everything in between. The ...

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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