In Asia, players reported that ethylene prices tracked a stable to softer trend during the past week. Trading activities were limited due to the Dragon Boat Festival celebrated on June 9 and 10. Meanwhile, any major decreases in ethylene costs were hindered by some spot demand from the buyers’ side. Spot ethylene prices decreased by $10/ton from a week earlier to reach $1045/ton on a CFR Northeast Asia basis while they were unchanged at $1045/ton on CFR Southeast Asia basis at the end of last week. FOB South Korea based offers also witnessed a drop of $10/ton in the same period to be quoted at $1020/ton.
In Europe, spot ethylene prices gained some ground over the past week on the back of production problems across the region. Spot prices climbed by €10/ton from a week earlier to be quoted at €900-910/ton FD NWE. Players concurred that the market received some support from unplanned production issues in France and Germany.
In the US, players reported that ethylene prices climbed by $47/ton (2.13 cents/lb) at the end of last week to be quoted at $571-582/ton (25.88-26.38 cents/lb) on FD USG basis. According to players, the recent increases were triggered by several production disruptions in Texas.