Asian ethylene markers gained US$10 ton NE CFR in the second week of December while Southeast CFR rose US$25 a ton on the week. Ethylene prices in Asian market continued their uptrend while maintaining the difference between north and south east markets. Softer naphtha market also lifted margins of Asian ethylene producers.
In US, spot ethylene prices fell as several crackers are completing restart activities after planned maintenance and unexpected outages. The November contract prices was settled down on the month while Dow suffered power outage in Louisiana plant. In Latin America, ethylene trade is expected to halt for end of year. Spot ethylene was down US cents 1.50 per pound FD USG for prompt-month material on the week.
European ethylene markets were bullish that week as spot was 8% up on the week. Spot jumped Euro 65 a ton FD while CIF values surged US$61 a ton on the week.
Courtesy: Weekly PriceWatch Report
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