High upstream naphtha costs pushed spot prices of ethylene higher in some parts of Asia on Wednesday. In North East Asia, CFR prices of ethylene firmed and were assessed up at the USD 1180/mt levels. Offers were pegged at the USD 1200/mt CFR mark.
A trader in Hong Kong when contacted said, although energy prices are fuelling ethylene rates higher, there is an element of skepticism among buyers given the fact that in Taiwan, CPC Corp will restarted its steam cracker next week on the one hand while on the other, ethylene tanks are said to be full in Taiwan.
He added, moreover, in South East Asia, Rayong Olefins in Thailand has restarted its steam cracker following completion of its annual turnaround. This cracker has a capacity of 800 kt/annum. Hence, although prices have firmed, demand for spot ethylene cargoes remains in check.
PE prices quoted stable in Asia on Wednesday while prices of PP raffia and PP injection slipped in the region, on account of improved availability and sluggish demand trends in Asia s key markets of China and India.
A trader in Hong Kong when contacted said, although energy prices are fuelling ethylene rates higher, there is an element of skepticism among buyers given the fact that in Taiwan, CPC Corp will restarted its steam cracker next week on the one hand while on the other, ethylene tanks are said to be full in Taiwan.
He added, moreover, in South East Asia, Rayong Olefins in Thailand has restarted its steam cracker following completion of its annual turnaround. This cracker has a capacity of 800 kt/annum. Hence, although prices have firmed, demand for spot ethylene cargoes remains in check.
PE prices quoted stable in Asia on Wednesday while prices of PP raffia and PP injection slipped in the region, on account of improved availability and sluggish demand trends in Asia s key markets of China and India.
