News Code :
43069
VCM , Propylene , Styrene and Ethylene Analysis
Petrotahlil:
VCM: Up in Asia | Stable in Europe | Stable in US
• Asian VCM rises $10 on week
• Firmer PVC pulls VCM up in Asia
• Spot VCM flat in Europe, US
• Tightness lingers in European VCM market
• US VCM mirrors stability in PVC
• Spot prices: CFR Far East Asia $700 | CFR Southeast Asia $730 | FOB NWE $690 | FOB USG $640-650
Propylene: Stable to Down in Asia | Down in Europe | Stable in US
• Spot C3 on FOB Korea basis down $30 on week
• Downturn attributed to a relief in tightness in S. Korea
• European C3 market hits lowest levels since early Apr
• July C3 contract expected lower in Europe
• Spot C3 prices in US flat despite higher feedstock costs
• June C3 contracts started settling with a decline in US
• Spot prices: CFR China $910 | FOB South Korea $870| FD NWE €925-930 | FD USG $711-722
Styrene: Down in Asia | Up in Europe | Up in US
• Styrene fails to maintain earlier gains in Asia
• Asian spot markets down $25-30 on week
• Local styrene in China also edge lower by CNY60
• Spot prices up $10-15 in Europe on demand
• Firmer benzene pushes US styrene higher
• Spot prices: CFR China $1060-1065 | FOB South Korea $1020-1025 | Ex-tank Zhangjiagang $1138-1140 | FOB NWE $970-975 | FOB USG $915-926
Ethylene: Stable to Down in Asia | Down in Europe | Down in US
• Spot C2 remains weak at 10-year low in Asia
• C2 downturn in Asia loses speed due to crude rally
• Ample supplies keep Asian C2 under pressure
• Spot C2 down further by €15 in Europe
• US C2 market resumes decreasing trend
• Spot prices: CFR Northeast Asia $780 | CFR Southeast Asia $700 | FOB South Korea $740 | FD NWE €980-985 | FD USG $281-292
