Ethylene prices head north in global markets
Spot ethylene prices at highest since late Nov 2018 in Asia
Two consecutive weeks of increases have pushed spot ethylene prices on CFR Far East Asia basis to a two-month high, according to the weekly average data obtained from ChemOrbis Price Wizard.
Limited ethylene supplies in Asia, China’s good demand ahead of the approaching Chinese New Year holiday and strong energy complex were cited as factors contributing to the current trend in spot prices. ChemOrbis data also suggest that both WTI and Brent oil benchmarks have retained their strength since 2019 started.
Europe’s ethylene market rebounds from nearly 3-year low
After rebounding from their lowest levels since March 2016, spot ethylene prices in Europe have extended their small gains into the second week on the back of firm crude oil futures and some outages across the region.
Meanwhile, market players in Europe voiced expectations regarding February ethylene contract with slight increases over last month.
Spot ethylene market in US gains 8% in past two weeks
Spot ethylene prices in the US have gained ground lately due to improving demand and higher ethane costs. The firm energy market has also lent support to the US ethylene market as in other global markets.
According to ChemOrbis data, spot ethylene prices in US are now standing at a month-high on weekly average after gaining 8% in the past two weeks.
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