By Malini Hariharan Polyolefins prices in the key China markets inched up last week thanks to an uptick in buying activity. Prices of high-density polyethylene (HDPE) blow moulding and film grades moved up $20/tonne while linear-low density PE prices were up $30/tonne, reports ICIS pricing. Polypropylene prices were also up $10-20/tonne However, opinion continues to […]
Asian Chemical Connections
Economic concerns dampen EPCA meeting
By Malini Hariharan On a day when Asian stock markets tumbled on fresh worries about Europe’s debt problems and a wider economic slowdown, it was not surprising to read about the downbeat mood at this year’s European Petrochemical Association’s (EPCA) meeting in Berlin. Reports by the blog’s colleagues on ICIS news indicate that economic concerns […]
PE Market Weakness Spreads To US
By Malini Hariharan After Europe, the US polyethylene (PE) market has started showing increasing signs of weakness. Spot offers have rapidly fallen putting downward pressure on June contracts that are currently under negotiation. Producers may have no choice but to settle at lower levels as exports to Asia is no longer a viable option. Spot […]
The C4 challenge
By Malini Hariharan C4 buyers are a troubled lot. Availabilty of the product is tight and will remain so for the foreseeable future. So it was not surprising to hear that concerns about C4 supply dominated discussions at the recent 6th ICIS World Olefins Conference in Brussels. From a surplus in 2010, Europe is predicted […]
PX: Still going strong
By Malini Hariharan Paraxylene (PX) markets are on a roll. Prices have risen by 20% since the beginning of the year and were assessed at around $1,620/tonne cfr Asia late last week by ICIS pricing. One contract nomination for March was out yesterday with JX Nippon Oil proposing a $110/tonne increase to $1,730/tonne cfr Asia. […]
Crude firm but naphtha under pressure
By Malini Hariharan Asian naphtha prices, which were expected to remain firm this quarter, have come under pressure as large volumes of European material are heading towards this region. Naphtha was trading at around $885/tonne cfr Japan last evening supported only by the strength in crude oil prices with WTI at $91.69/bbl and Brent at […]
All mixed up in the West
By Malini Hariharan The blog has been writing about the softening in olefin and polyolefin prices in the US. But the European market presents an interesting contrast offering arbitrage opportunities for those willing to take the risk. Operating rate reductions have been reported at crackers in Priolo, Italy; Tarragona, Spain; Carling, France; Cologne, Germany; and […]
Action in the propylene market
By Malini Hariharan Just when Asian propylene prices started easing comes news of disruptions in production and price hikes in the West. Propylene availability in Europe was hit after a strike by Total’s refinery workers early in the week resulted in the closure of 36% of France’s C3 capacity. This forced Total to declare force […]
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