News Code :
42508
Ethylene, Propylene, Styrene & VCM Analysis
Petrotahlil :
Ethylene: Down in Asia | Stable in Europe | Down in US
• Asia’s spot C2 market slumps for 2nd week
• PE regains its premium over ethylene in China
• European C2 stable at more than 3-month high
• Ample supplies continue to weigh on US C2 market
• Spot prices see weekly drops of around $11-22 in US
• Spot prices: CFR Northeast Asia $1030 | CFR Southeast Asia $930 | FOB South Korea $970 | FD NWE €860-865| FD USG $331-342
Propylene: Down in Asia | Stable in Europe | Down in US
• Asian spot C3 market falls $25-30 on week
• Lower domestic prices in China weaken import demand
• C3 supplies ample, market activity thin in Europe
• Decreasing trend in spot C3 market resumed in US
• Spot prices defy lower supplies, production issues in US
• Spot prices: CFR China $900 | FOB South Korea $890 | FD NWE €900-905 | FD USG $700-711
Styrene: Up in Asia | Up in Europe | Up in US
• Spot styrene sees slight weekly gains in Asia
• Sentiment firm, yet slumping C2 puts pressure on styrene
• European spot styrene market up $40 on week
• Limited supply, firm Europe push US styrene higher
• Spot prices hit highest levels since early Nov in US
• Spot prices: CFR China $1080-1085 | FOB South Korea $1040-1045 | Ex-tank Zhangjiagang $1092-1095 | FOB NWE $1050 | FOB USG $1025-1036
VCM: Stable in Asia | Stable in Europe | Down in US
• Asian VCM flat despite bearish PVC sentiment
• Spot prices find support from limited supplies in Asia
• VCM flat amid tightness, stable PVC demand in Europe
• Spot VCM prices in US edge down by $5 on week
• Softening emerges in line with export PVC prices in US
• Spot prices: CFR Far East Asia $740 | CFR Southeast Asia $760 | FOB NWE $670 | FOB USG $635-645
