Styrene, Propylene and Ethylene Analysis, Aug 12.
Petrotahlil :
Styrene: Down in Asia | Down in Europe | Down in US
• Sharply fluctuating crude oil adds to cautious mood
• Asia’s spot styrene market plunges $45
• Spot prices in Europe dip further despite higher contract
• Waning demand pushes styrene prices lower in US
• Spot prices: CFR China $1005 | FOB South Korea $965 | Ex-tank Zhangjiagang $1032-1035 | FOB NWE $935 | FOB USG $898-909
Propylene: Down in Asia | Stable to down in Europe | Up in US
• Asian propylene softened $5/ton
• Asian C3 cancelled previous gain on thin demand
• Summer lull weighs on European propylene
• Falling naptha to add extra pressure on European C3
• Propylene in US up on supply issues
• Spot prices: CFR China $965 | FOB South Korea $920| FD NWE €860-865| FD USG $794
Ethylene: Up in Asia | Stable in Europe | Down in US
• Asian ethylene rises further on tightness
• Demand fizzles out for Asian ethylene
• European ethylene stable on holidays
• US ethylene down on easing supply
• July ethylene contracts settled higher
• Spot prices: CFR China $920 | CFR Southeast Asia $820 | FOB South Korea $870 | FD NWE €845-850 | FD USG $375-386
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