VCM, Ethylene, Styrene, and Propylene Analysis, July 14.
Petrotahlil :
VCM: Stable in Asia | Down in Europe | Stable in US
• Asian VCM market flat despite limited supply
• Spot VCM prices in Europe down $20 on week
• European VCM market respond to lower C2 prices
• US VCM prices track stable PVC markets
• Spot prices: CFR Far East Asia $720 | CFR Southeast Asia $750 | FOB NWE $660 | FOB USG $640-650
Ethylene: Up in Asia | Stable in Europe | Up in US
• Spot C2 prices in Asia up $10 on week
• Asian buyers remain cautious about fresh purchases
• Spot prices mostly flat on week in Europe
• Sentiment remains weak in Europe’s C2 market
• C2 prices rise ahead of Hurricane Barry in US
• Spot prices: CFR Northeast Asia $800 | CFR Southeast Asia $710 | FOB South Korea $750 | FD NWE €850 | FD USG $347-358
Styrene: Down in Asia | Up in Europe | Stable in US
• Spot styrene edges lower in Asia as demand fades
• China’s local market also down amid higher supply
• Healthy demand pushes spot prices higher in Europe
• European styrene market up $25 on week
• Spot styrene prices mostly flat in US
• Spot prices: CFR China $1070 | FOB South Korea $1030 | Ex-tank Zhangjiagang $1139-1142 | FOB NWE $960 | FOB USG $904-915
Propylene: Up in Asia | Up in Europe | Up in US
• Spot C3 prices up $25-30 on week in Asia
• Limited availability continue to bolster Asian C3 markets
• European C3 market recovers from lowest since Dec 2017
• US C3 market extends gains amid production outages
• Spot prices: CFR China $950 | FOB South Korea $905 | FD NWE €875 | FD USG $860
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