Spot ethylene shifts in Asia, US; Europe hits 3-month low
Although the holiday, which falls in the first week of October, helped demand pick up in Northeast Asia, buying interest in Southeast Asia remained muted with spot prices extending their losses.
The spot ethylene prices in the US also changed direction recently. The market was on a six-week uptrend, which was driven by higher ethane feedstock costs. However, long ethylene supplies and weaker ethane prices on the week have lately pulled the market down.
In Europe, prices for spot ethylene saw a new round of decreases and broke below the €1000/ton threshold for the first time in almost three months. The market has been steadily losing ground since mid-August. Players argued that comfortable supplies have kept demand at a low level, paving the way for the weekly losses.
The downturn has been in place despite the fact that several producers are planning shutdowns at their crackers including BP, LyondellBasell, Unipetrol, Naphthachimie, and MOL in September and October. The Turkish producer Petkim is also readying to suspend operations at its ethylene unit in Izmır, Turkey for maintenance.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PS markets plunge to 3-year low in China, SEA
- Yuan devaluation sends import LLDPE, HDPE back to 10-year low in China
- PET markets hit two-year low in China, SEA
- Naphtha hits lowest of 2 years in Europe, 8 months in Asia; eyes on oil
- Downturn halts in Europe’s PP, PE and PVC markets ahead of holidays
- Turkish PP, PE markets enter Eid holidays on weak note
- Asia’s September PVC outlook takes shape amid dwindling supplies
- China’s import PP market yields to mounting trade war, weak demand
- PP, PE markets remain soft for another month in Egypt, Mid-East ahead of Eid
- PE sentiment shifts on higher ethylene in Europe