News Code :
42808
Propylene, Styrene,Ethylene and VCM Analysis.
Petrotahlil:
Propylene: Down in Asia | Up in Europe | Up in US
• Asian spot C3 markets down $15 on week
• Rising supplies blamed for lower prices in Asia
• Spot C3 stays firm on tightening supplies in Europe
• Expectations for May C3 contract call for €20-30 hikes
• US spot C3 market climbs to 3-month high
• Spot prices: CFR China $890 | FOB South Korea $850 | FD NWE €965 | FD USG $832-843
Styrene: Up in Asia | Down in Europe | Down in US
• Styrene prices edge higher by $5-10 in Asia
• Weaker ethylene weighs on Asia’s sentiment
• Local prices up CNY85 on week in China
• European, US markets soften
• Improved supplies push prices lower in Europe, US
• Spot prices: CFR China $1065-1070 | FOB South Korea $1025-1030 | Ex-tank Zhangjiagang $1076-1078 | FOB NWE $1125 | FOB USG $1020-1031
Ethylene: Down in Asia | Stable in Europe | Stable to Up in US
• Asian ethylene down further by $25-40 on week
• Ample availability weighs on Asian C2 market
• Spot ethylene on FD NWE basis mostly stable
• Players sidelined in Europe ahead of May contract settlements
• US C2 market tracks ethane prices slightly higher
• Spot prices: CFR Northeast Asia $950 | CFR Southeast Asia $890 | FOB South Korea $890 | FD NWE €965| FD USG $292-303
VCM: Stable in Asia | Down in Europe | Stable in US
• Rebounding PVC supports Asian VCM market
• Spot VCM prices fall $30 on week in Europe
• European VCM weighed by earlier losses in Asia
• VCM dips to lowest level since mid-Feb in Europe
• US VCM waiting signals from downstream PVC market
• Spot prices: CFR Far East Asia $660 | CFR Southeast Asia $700 | FOB NWE $660 | FOB USG $600-610
