Propylene, styrene, Ethylene and VCM analysis.
Petrotahlil:
Propylene: Stable in Asia | Down in Europe | Stable in US
• Asian C3 market stable amid lackluster trading
• European C3 market down further on ample supply
• Demand slow in Europe due to summer season
• July C3 contracts settled higher in US
• Polymer-grade C3 flat in US despite lower stocks
• Spot prices: CFR China $955 | FOB South Korea $905| FD NWE €860-865| FD USG $760-771
Styrene: Up in Asia | Up in Europe | Up in US
• Spot styrene climbs $15-20 in Asia
• Price gains attributed to lower supplies in China
• Hanwha Total’s shutdown contributes to rising prices
• Europe’s styrene market sees weekly gains of $25
• Spot prices up in US due to planned maintenance
• Spot prices: CFR China $1065 | FOB South Korea $1025 | Ex-tank Zhangjiagang $1101-1104 | FOB NWE $975 | FOB USG $920-931
Ethylene: Stable in Asia | Down in Europe | Up in US
• Asia’s C2 market stable on week
• Supply tightness eases in Asia
• Spot C2 declines €20-25 in Europe
• Trading limited in Europe ahead of Aug contracts
• Rising demand pushes C2 prices higher in US
• Spot prices: CFR Northeast Asia $840 | CFR Southeast Asia $750 | FOB South Korea $790 | FD NWE €820-825 | FD USG $331-353
VCM: Down in Asia | Stable in Europe | Stable in US
• Spot VCM down $20 on week in Asia
• Asian VCM follows Aug PVC offers lower
• VCM markets stable in Europe, US
• European VCM under pressure from muted PVC demand
• Spot prices: CFR Far East Asia $700 | CFR Southeast Asia $730 | FOB NWE $630 | FOB USG $640-650
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