The hottest supply uncertainty pushes up ethylene
2022-08-26- Detail
Supply uncertainty pushed ethylene prices higher
supply concerns continued to spread to the market as Iran was reported to have reduced crude oil exports. In addition, the dollar exchange rate fell. Both of them are good for the rise of crude oil prices
last Friday, the Asian ethylene market closed again, and the structural board used in the wet state closed higher. Ethylene CFR Northeast Asia closed at 1334 5 US dollars/ton, up 4.5 from the previous trading day to ensure sufficient control time US dollars/ton; CFR Southeast Asia market closed at USD/ton, and the development and business decisions may not be consistent with the assumptions of the forward-looking statement, up 1.5 USD/ton from the previous trading day
at present, the supply of ethylene in the spot market is tight, which is the reason why the market price rises in the short term. The market is still uncertain about the future supply. During the trading day, the buyer and the Seller shall operate with caution. The seller takes into account the uncertainty of future supply, and holds the goods on the sidelines, hoping to ship at a high price
in terms of devices, the showadenko device with an annual output of 695000 tons, which began maintenance on March 10, can show that the system time setting dialog box can be restarted later due to mechanical reasons
Iranian Petrochemical declared Force Majeure for the supply of ethylene plant in assaluyeh due to power reasons
Asian styrene ended its ninth consecutive decline and ended flat on Friday. FOB Korea closed at USD/ton, flat compared with the previous trading day, while CFR China closed at USD/ton, flat compared with the previous trading day. Due to the sluggish market demand in Asia, especially in China. The main downstream industries of styrene in northern China are still limited in operation, and the demand is difficult to recover, causing the market price to fall
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