European ethylene, propylene fall on lower crude, better supplies
In line with weaker crude markets, the naphtha market in the region also witnessed a decline of $25-30/ton from a week earlier. In Europe, naphtha prices are currently standing at $425/ton CIF ARA.
Spot propylene prices slumped around €85/ton ($93/ton) since the end of last week to be currently reported at around €640-645/ton on FD NWE basis. Market players report that lower crude oil prices and weaker demand from downstream units in the face of improving supply levels accelerated the downward trend in the spot propylene market.
Spot ethylene prices, meanwhile, dived around €75-80/ton ($82-88/ton) during the same period to around €725-730/ton with the same terms. In addition to lower energy costs, the downward trend has found further support from the restarts at many producers’ ethylene units following turnarounds in the September-October period.
.jpeg)
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops