In Asia, the spot ethylene market tracked a steady trend during this past week. According to a trader, prices remained at $1190/ton on CFR Northeast Asia, at $1145/ton on CFR Southeast Asia and at $1180/ton on FOB South Korea basis, at the end of last week. The trade was muted while there were unconfirmed market talks about Exxonmobil’s Singapore crackers having a production issue.
In Europe, the monthly ethylene contract settled with €40/ton increases at €910/ton for May. Meanwhile, spot ethylene prices recorded around €70/ton increases at €955/ton on FD NWE basis, according to a trader. Spot prices saw support from the higher initial May contract as well as the tight supplies in the region.
In the US, according to players, the spot ethylene market recorded around $10/ton increases (0.37 cents/lb) at $557-568/ton (25.25-25.75 cents/lb) on FD USG basis, at the end of last week. The increase was tied to the ongoing shutdowns in the country.