Asian traded ethylene went up between $30-$60/mt as on
27/01/2017. The CFR Northeast Asia marker hiked by $60/mt from Thursday to hit
a five month high Friday, at the same period of time CFR Southeast Asia traded ethylene
price increased by $30/mt went upto 3-months high. Due to olefins plant
operations in China Asian ethylene market will be tightening in Feb-March. Some
sources informed operation rates at methanol-to-olefins plants in China were
falling due to high methanol price which made narrowed MTO margins. On Friday,
the CFR China methanol price increased $6/mt day on day to be assessed at $342/mt.
Ethylene demand in China noticed higher due to positive margins for ethylene
derivatives production. Styrene monomer margin was assessing at plus $40-$100/mt,where
monoethylene glycol margin was calculated at around plus $100/mt this week. Amid
this, traders actively searching spot FOB cargoes this week due to coming
demand from end users. An ethylene supplier in Northeast Asia said he received
lots of inquiries for spot FOB cargoes from traders this week but not enough
material to cater the demand. FOB ethylene supply was noticed short amid high
run rates at ethylene derivative plants. The FOB Korea ethylene marker noticed
up $35/mt week on week at 3-months high of $1,100/mt Friday. The price
increased little at CFR SEA as spot supply was healthy in the region in line
with a downstream plant turnarounds.
Price assessments: The CFR Northeast Asia ethylene noticed increased $60/mt on daily basis at $1,170/mt Friday. A deal was heard done at $1,155/mt CFR NEA, while the latest negotiation was heard in the high-$1,100s/mt CFR NEA. The CFR Southeast Asia ethylene marker was assessed at $1,035/mt, went up $30/mt day on day. A buying idea evaluated between $1,010-1,030/mt CFR SEA, against a selling assessments at $1,050/mt CFR SEA. The FOB Korea ethylene price increased $35/mt week on week to be assessed at $1,100/mt Friday. No spot cargoes were available from South Korea and regions at this offer for February, while two deals just rumoured done at $1,100/mt FOB NEA for H2 February and H1 March loading.
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Price assessments: The CFR Northeast Asia ethylene noticed increased $60/mt on daily basis at $1,170/mt Friday. A deal was heard done at $1,155/mt CFR NEA, while the latest negotiation was heard in the high-$1,100s/mt CFR NEA. The CFR Southeast Asia ethylene marker was assessed at $1,035/mt, went up $30/mt day on day. A buying idea evaluated between $1,010-1,030/mt CFR SEA, against a selling assessments at $1,050/mt CFR SEA. The FOB Korea ethylene price increased $35/mt week on week to be assessed at $1,100/mt Friday. No spot cargoes were available from South Korea and regions at this offer for February, while two deals just rumoured done at $1,100/mt FOB NEA for H2 February and H1 March loading.
For Daily Chemical report, kindly call or Whatsapp at-9599622045
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