News Code :
43098
Styrene, Propylene, VCM and Ethylene Analysis (1July)
Petrotahlil :
Styrene: Down in Asia | Down in Europe | Down in US
• Spot styrene inches down $5 in Asia
• Fading demand weighs on Asian styrene
• Europe’s styrene market plunges $50-55 on week
• Increasing supplies push prices lower in Europe
• US styrene tracks Asia, Europe lower
• Spot prices: CFR China $1055-1060 | FOB South Korea $1015-1020 | Ex-tank Zhangjiagang $1137-1139 | FOB NWE $920 | FOB USG $904-915
Propylene: Down in Asia | Down in Europe | Up in US
• CFR China C3 down on week despite a daily gain on Friday
• The modest daily gain attributed to improving demand
• European C3 market extends losses on ample supply
• July C3 contracts settled €80 lower in Europe
• US C3 market heads north on turnarounds
• Spot prices: CFR China $905 | FOB South Korea $860| FD NWE €880-885| FD USG $749-760
VCM: Stable in Asia | Down in Europe | Stable in US
• Asian VCM defies firmer import PVC markets
• European VCM posts weekly loss of $10
• VCM follows weaker PVC in Europe
• US VCM flat in line with export PVC prices
• Spot prices: CFR Far East Asia $700 | CFR Southeast Asia $730 | FOB NWE $680 | FOB USG $640-650
Ethylene: Down in Asia | Down in Europe | Up in US
• Spot C2 down further by $20 in Asia
• Asian market remains weak at 10-year low
• July C2 settles €75 lower in Europe
• Europe’s spot market retreats €30-35 on week
• Spot prices inch up in US on shutdowns
• Spot prices: CFR Northeast Asia $760 | CFR Southeast Asia $680 | FOB South Korea $720 | FD NWE €950 | FD USG $292-303
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