Ethylene, Styrene, Propylene and VCM Analysis, 8July.
Petrotahlil :
Styrene: Up in Asia | Up in Europe | Stable in US
• Styrene climbs $15-20 in Asia as demand improves
• China’s local styrene market also firms up
• Sustainability of recent gains questioned in Asia
• Spot prices up $15 in Europe on better buying interest
• Styrene market stable in US amid thin activity
• Spot prices: CFR China $1075 | FOB South Korea $1035 | Ex-tank Zhangjiagang $1156-1159 | FOB NWE $935 | FOB USG $904-915
Ethylene: Up in Asia | Down in Europe | Stable in US
• C2 rebounds from 10-year low in Asia
• Asia’s spot market up $20-30 on week
• Rising PE offers push C2 higher in Asia
• Spot C2 slumps around €100 in Europe
• US market stable amid holiday lull
• Spot prices: CFR Northeast Asia $790 | CFR Southeast Asia $700 | FOB South Korea $740 | FD NWE €850 | FD USG $292-303
VCM: Up in Asia | Stable in Europe | Stable in US
• Asian VCM market up $20 on week
• Firmer spot prices in Asia attributed to limited supply
• European, US VCM markets unchanged on week
• VCM unresponsive to lower C2 contracts in Europe
• Eyes on July PVC negotiations in US VCM market
• Spot prices: CFR Far East Asia $720 | CFR Southeast Asia $750 | FOB NWE $680 | FOB USG $640-650
Propylene: Up in Asia | Down in Europe | Up in US
• Spot C3 prices gain $15-20 on week in Asia
• Tightness in China pushes Asian C3 market higher
• European C3 market hits multi-year lows
• Ample supply keeps C3 market weak in Europe
• US C3 market climbs on diminishing supply
• Spot prices: CFR China $925 | FOB South Korea $875| FD NWE €865| FD USG $815-826
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