Gap between offers & bids suppress ethylene spot markets
23 Nov '10
1 min read
In the just past week, ethylene spot market in Asia was suppressed by the large gap between offers and bids. Restart time of the No - 2 cracker of Taiwan's Formosa Petrochemical with capacity of 1.03 million tons / year has not been determined.
In Northeast Asia, spot price rose $20-30 to $1000-1050 / ton (CFR Northeast Asia), reflecting the level of the week's discussion.
In Southeast Asia, spot price grew $20 to $1000-1030 / ton (CFR South East Asia), reflecting the level of offers and bids on the week.
Buyers expect that Formosa's cracker will restart soon. Naphtha price has risen to $800 per ton, derivatives demand is robust, therefore, sales intention of ethylene will no less than US $1050 / ton (CFR Asia).
In the Middle East, there was no stock available, due to public holidays. In the derivatives markets, price of high-density film grade polyethylene fell $70 to $1230-1280 / ton (CFR China) and PVC price stabilized at $990-1040 / ton (CFR China).
marketing@alchempro.com
