In Asia, spot ethylene prices remained unchanged during this past week. According to a trader, prices were pegged at $1075/ton on CFR Northeast Asia basis and at $1085/ton on CFR Southeast Asia basis, at the end of last week. FOB South Korea based offers also remained unchanged at $1075/ton during the same period. Market sentiment was weak during last week given the volatile stock market in China which had to be shut twice in order to prevent sudden large losses. However, tight supplies kept the market levels steady.
In Europe, like in Asia, the spot ethylene market tracked a steady trend and players pegged prices unchanged at €810/ton on FD NWE basis, at the end of last week. Spot market levels reprtedly traded at a discount when compared to the January ethylene contract that settled with €27.50/ton decreases at €900/ton on FD NWE basis last week.
In the US, according to a trader, spot ethylene prices came down by $33/ton (1.50 cents/lb) to $402-413/ton (18.25-18.75 cents/lb) on FD USG basis, at the end of last week. Meanwhile, December ethylene contracts were fully settled with a decrease of $61/ton (2.75 cents/lb) from November at $568/ton (25.75 cents/lb), indicating the lowest level seen in 13 years.
In Asia, spot ethylene prices remained unchanged during this past week. According to a trader, prices were pegged at $1075/ton on CFR Northeast Asia basis and at $1085/ton on CFR Southeast Asia basis, at the end of last week. FOB South Korea based offers also remained unchanged at $1075/ton during the same period. Market sentiment was weak during last week given the volatile stock market in China which had to be shut twice in order to prevent sudden large losses. However, tight supplies kept the market levels steady. In Europe, like in Asia, the spot ethylene market tracked a steady trend and players pegged prices unchanged at €810/ton on FD NWE basis, at the end of last week. Spot market levels reprtedly traded at a discount when compared to the January ethylene contract that settled with €27.50/ton decreases at €900/ton on FD NWE basis last week. In the US, according to a trader, spot ethylene prices came down by $33/ton (1.50 cents/lb) to $402-413/ton (18.25-18.75 cents/lb) on FD USG basis, at the end of last week. Meanwhile, December ethylene contracts were fully settled with a decrease of $61/ton (2.75 cents/lb) from November at $568/ton (25.75 cents/lb), indicating the lowest level seen in 13 years.
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