Due to weak demand and poor expectations for the arrival of the cargo market in April, the spot price of ethylene in Asia closed down US$10/ton on March 22.
Demand in East Asia has been dragged down by weak downstream prices and ample supply. Most buyers delisted and waited for prices to fall further.
Affected by the increase in the price of ethylene in the first half of the month, the price difference between ethylene and naphtha once soared to $596.25/ton, and the profitability of production was good, prompting positive market intentions. Affected by weak short-term expectations, most sellers are more willing to adopt fixed prices.
In terms of bidding, Thailand’s PTTGC issued a sale of 3000-6500 tons of cargo on April 25-27, and the bid will be closed on the 24th.
Downstream styrene and ethylene glycol CFR China prices rose by US$19/ton and US$15/ton respectively. On the upstream side, the price of C+F Japanese naphtha closed up slightly by US$3.38/ton, and the price difference between ethylene and its price is currently about US$514/ton.
Source: Mobile Public Account
