News Code :
42708
VCM,Styrene & Propylene Analysis
Petrotahlil:
⚫VCM: Stable in Asia | Stable in Europe | Down in US
• VCM flat on week in Asia, Europe
• Stability attributed to tightness, thin trading
• US VCM down $30 on week
• Softening in US emerges in line with lower PVC
• US VCM dips to lowest level since Oct 2016
• Spot prices: CFR Far East Asia $700 | CFR Southeast Asia $730 | FOB NWE $690 | FOB USG $600-610
⚫Styrene: Down in Asia | Up in Europe | Stable in US
• Asian styrene continues to fluctuate
• Spot prices down $20 on week in Asia
• European styrene up $10 despite muted activity
• Spot prices stable in US
• Demand for prompt cargoes healthy in US
• Spot prices: CFR China $1070 | FOB South Korea $1030 | Ex-tank Zhangjiagang $1081-1084 | FOB NWE $1085 | FOB USG $1020-1031
⚫Propylene: Down in Asia | Up in Europe | Up in US
• CFR China C3 down on week despite a daily gain on Friday
• Spot C3 prices slightly up for 3rd week in Europe
• Expectations for May C3 contracts hint at gains
• Initial Apr C3 contracts settle with rollovers in US
• Spot C3 prices in US climb to 2-month high
• Spot prices: CFR China $905 | FOB South Korea $865 | FD NWE €930-935 | FD USG $749-760
