22 January 2014 06:37 [Source: ICIS news]
SINGAPORE (ICIS)--China’s prices of ethylene oxide (EO) have edged higher in the week owing to the overall recent gains in feedstock ethylene prices, market participants said on Wednesday.
The prices of EO in eastern China increased by CNY200/tonne during the week ended 22 January at CNY10,600/tonne, after having remained stable for several weeks at CNY10,400/tonne, they added.
“The rise in ethylene prices led to higher EO prices,” said one participant.
Ethylene spot prices in northeast Asia eased by $10/tonne at the high end to $1,520-1,550/tonne CFR NE (northeast) Asia in the week ended 17 January, but they were stronger than the levels of $1,440-1,460/tonne CFR NE Asia seen four weeks ago.
Meanwhile, the spot prices in southeast Asia dropped by $20/tonne at the high end to $1,440-1,470/tonne CFR SE Asia during the week ending 17 January but were higher compared with $1,400-1,450/tonne CFR SE Asia four weeks ago.
Ethylene spot prices in northeast Asia had increased by $20/tonne to $1,520-1,560/tonne CFR NE Asia in the week ended 10 January, while the spot prices in southeast Asia rose by $25.00/tonne at the low end to $1,440-1,490/tonne CFR SE Asia over the same period, according to ICIS.
Northeast Asian ethylene import prices had recently hit the highest levels last seen in 2008, driven mainly by tight regional supply ahead of a heavy cracker shutdown schedule in Japan and Taiwan in the first half of the year.
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