Spot ethylene hits 9 month-high, propylene slightly firmer in Asia
by ChemOrbis Editorial Team - content@chemorbis.com
In Asia, spot ethylene prices continued to rise this week, albeit at a slower pace amid lower supply and rising demand. Spot prices on CFR China basis have increased by $35/ton from last week to around $840/ton, according to ChemOrbis Price Wizard.
These steady gains helped spot ethylene prices on CFR China to climb to their highest since late September, 2019.
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Similarly, spot prices on CFR Southeast Asia basis also witnessed a weekly increase of $35/ton to around $790/ton. ChemOrbis data shows that spot ethylene prices on CFR SEA basis are now standing at a 7-month high.
Spot ethylene prices moved above downstream PE offers in China earlier in June. This was previously mentioned in detail in ChemOrbis Plastics News Ethylene prices move above HDPE, LLDPE in China; delta shrinks in SEA.
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Propylene markets, meanwhile, followed a slightly firmer trend this week. Spot prices on FOB Korea and CFR China basis edged up by $5/ton and $15/ton, respectively, to be quoted $735/ton and $780/ton by the end of this week.
The moderate increases in prices were mainly attributed to higher demand along with tightening supply levels in the region, said market participants.
These steady gains helped spot ethylene prices on CFR China to climb to their highest since late September, 2019.
To track weekly developments in global monomer markets, please click here (For members only)
Similarly, spot prices on CFR Southeast Asia basis also witnessed a weekly increase of $35/ton to around $790/ton. ChemOrbis data shows that spot ethylene prices on CFR SEA basis are now standing at a 7-month high.
Spot ethylene prices moved above downstream PE offers in China earlier in June. This was previously mentioned in detail in ChemOrbis Plastics News Ethylene prices move above HDPE, LLDPE in China; delta shrinks in SEA.
Propylene markets, meanwhile, followed a slightly firmer trend this week. Spot prices on FOB Korea and CFR China basis edged up by $5/ton and $15/ton, respectively, to be quoted $735/ton and $780/ton by the end of this week.
The moderate increases in prices were mainly attributed to higher demand along with tightening supply levels in the region, said market participants.
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