News Code :
42841
VCM, Propylene, Styrene & Ethylene Analysis(6 May 2019)
Petrotahlil:
VCM Analysis
VCM: Stable to Up in Asia | Stable in Europe | Stable in US
• Asian VCM responds to firming in PVC
• VCM on CFR FEA basis up $20 on week
• European VCM stable despite tightness
• US VCM follows stability in PVC
• Spot prices: CFR Far East Asia $680 | CFR Southeast Asia $700 | FOB NWE $660 | FOB USG $600-610.
Propylene Analysis
Propylene: Stable in Asia | Down in Europe | Up in US
• Asian C3 market flat on subdued trading
• May C3 contract settles €20 higher in Europe
• European C3 market down by €5 on week
• C3 in US up further on healthy export demand
• C3 hits highest level since late Nov 2018 in US
• Spot prices: CFR China $890 | FOB South Korea $850 | FD NWE €960 | FD USG $887-898.
Styrene Analysis
Styrene: Up in Asia | Down in Europe | Stable in US
• Styrene prices edge higher by $5-10 in Asia
• Thin trading in China due to the Labor Day holiday
• European styrene down $20 on week
• May styrene contracts settle €32.5 higher in Europe
• Spot styrene stable in US amid limited activity
• Spot prices: CFR China $1075-1080 | FOB South Korea $1035-1040 | Ex-tank Zhangjiagang $1083-1086 | FOB NWE $1105| FOB USG $1020-1031.
Ethylene Analysis
Ethylene: Down in Asia | Up in Europe | Down in US
• Asian C2 hits lowest level since mid-January
• Ample supplies keep C2 market under pressure
• Spot C2 on FD NWE basis jumps €45 on week
• May ethylene contracts settle €30 higher in Europe
• US C2 market down on week, April contracts settle lower
• Spot prices: CFR Northeast Asia $930 | CFR Southeast Asia $880 | FOB South Korea $870 | FD NWE €1010| FD USG $270-281.
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