Asian ethylene stable for a month amid signs of rebound
As can be seen in the graph below created by ChemOrbis Price Wizard, spot ethylene prices on CFR Far East Asia basis retreated by around $110/ton on average from late September to late October. Following this downturn, spot prices headed north until mid-November and cancelled almost half of their previous losses. Since then, they have been tracking a stable to slightly firmer trend.
Players mostly expect spot ethylene prices to witness increases in the upcoming month, citing reduced supplies in the midst of turnarounds as well as a possible further improvement in demand in line with the approaching Chinese New Year.
Meanwhile, the ongoing bullish run of the energy complex seems to provide further support to the firming expectations of ethylene. The recent supply disruptions amidst a pipeline shutdown at the North Sea oilfield have pushed oil prices to a two-year-high recently.
To track the latest updates about the ethylene market, spot and contract prices, please click Weekly Ethylene Analysis (For members only)
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