News Code :
42666
Ethylene/Propylene/Styrene & VCM, Analysis
Petrotahlil:
Ethylene: Stable in Asia | Up in Europe | Stable to Up in US
• C2 stabilizes at 10-week low in Asia
• Market activity was thin in China due to public holiday
• Spot C2 sustains its rising path in Europe
• Firmer European market attributed to tightening supplies
• March C2 contracts settle lower in US
• Spot prices: CFR Northeast Asia $1020 | CFR Southeast Asia $920 | FOB South Korea $960 | FD NWE €960-965| FD USG $298-309
Propylene: Stable to Up in Asia | Up in Europe | Stable in US
• Trading activities lackluster in Asian C3 market
• Firming in C3 continues in Europe, albeit at a slower pace
• Demand limited, supply not as ample as before in Europe
• Spot C3 prices in US stable for 2nd week
• Higher inventories in US hinder buying interest
• Spot prices: CFR China $910 | FOB South Korea $870 | FD NWE €920-925 | FD USG $711-722
Styrene: Up in Asia | Up in Europe | Up in US
• Styrene surges $70-75 on week in Asia
• Lower stocks in China help prices move higher
• European styrene edges up after seeing sharp drops
• Tight supplies were blamed for higher prices in Europe
• Styrene resumes firming trend in US amid shutdowns
• Spot prices: CFR China $1090 | FOB South Korea $1050 | Ex-tank Zhangjiagang $1081-1084 | FOB NWE $1075 | FOB USG $1020-1031
VCM: Stable in Asia | Up in Europe | Stable in US
• Asian VCM market follows a stable trend
• VCM up $10 on week in Europe
• Firming in Europe attributed to tightness
• VCM steady in US for 2nd week
• US VCM waiting for signals from downstream PVC
• Spot prices: CFR Far East Asia $700 | CFR Southeast Asia $730 | FOB NWE $690 | FOB USG $630-640
