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Ethylene dichloride Asia, Europe & US Transcript
ICIS publishes a weekly global report on ethylene dichloride or EDC which covers the markets in Asia, United States and Europe.
The report tracks CFR northeast and southeast Asia prices, as well as FOB US Gulf and western Europe prices. Feedstock ethylene prices are also included.
Our global team of editors assess prices based on information supplied by our extensive list of market sources which include buyers, producers and traders.
Asia is the main destination for exports of EDC and our report tracks these as they happen. Deep sea export business is almost exclusively for the production of polyvinyl chloride, although there is significant demand for EDC from non-vinyl buyers in China, this is minor compared with the demand from the vinyl sector.
Price differentials between the different end-use sectors therefore result, with non-vinyl buyers willing to pay a premium price to secure EDC supply.
With its global outlook, based on strong regional reporting, our information on spot-transactions, supply-demand balances, exports and imports as well as contract price negotiations and settlements, provides readers with a very comprehensive overview of all the factors impacting EDC markets.
Our readers can and do keep on top of market movements and use our information as a reference for their own transactions
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Updated to Q3 2016
While both feedstock ethylene and downstream polyvinyl chloride (PVC) prices were on an uptrend throughout Q3 2016, EDC prices remained somewhat stable, fluctuating in a narrow range.
Offers for US origin spot cargoes slowly firmed throughout Q3, driven by rising feedstock ethylene US prices. However, Asian buyers stood by their buying indications due to a few factors. Many buyers did not have any spot requirements, either because they were regularly receiving contractual shipments, or because they had turnarounds at their downstream vinyl facilities during Q3. Hence, these buyers were only interested in extremely competitive offers. At the same time, competitive offers were available from Middle Eastern and southeast Asia producers, hence buyers saw no reason to increase their buying indications.
Spot EDC prices in both northeast and southeast Asia rose in the first month of Q3 from $255/tonne CFR NE Asia and $248/tonne CFR SE Asia to $263/tonne CFR NE Asia and $255/tonne CFR SE Asia before softening down to $258/tonne CFR NE Asia and $248/tonne CFR SE Asia in August. EDC prices in northeast Asia softened further towards t he end of September while prices in southeast Asia rose to $253/tonne CFR SE Asia.
Updated to Q3 2016
European ethylene dichloride (EDC) prices were completely flat in Q3 as a result of very low liquidity in the market, with only a handful of spot deals carried out.
The majority of EDC production in Europe is integrated into larger polyvinyl chloride (PVC) production systems, making merchant spot deals quite rare except in the case of production problems or other unplanned shortages.
At least one European producer has become short of EDC as of early 2016 and as a result has purchased EDC as a supplement to manufactured quantities; however, this was done on a contractual rather than a spot basis, according to market sources.
The potential availability of EDC in Europe has increased due to the closure of INEOS’ PVC plant in Schkopau, Germany, last year, which has freed up EDC/VCM capacity for sales in European and exports.
However, this has not directly impacted the European EDC spot price as yet, mainly due to the limited liquidity in the market.
Updated to Q3 2016
US ethylene dichloride (EDC) continued to see rising production and increased export opportunities during Q3 as low production costs in the US Gulf aided arbitrage to Asia.
US production in H1 2016 rose to 10.4bn lbs from 9.12bn lbs in H1 2015, according to data from the American Fuel and Petrochemical Manufacturers.
US EDC exports of 773,306 tonnes through July were up 138,691 tonnes, or 22%, compared to the first seven months of 2015, according to data from the US International Trade Commission (ITC).
In the first seven months, US exports to China rose 21% to 257,813 tonnes; exports to Taiwan increased 118% to 111,468 tonnes; and exports to Thailand jumped 330% to 53,314 tonnes, compared with 2015, according to ITC data.
Spot export prices rose $25/tonne during Q3 to an average of $215/tonne.
ICIS provides pricing information, news and analysis for all major petrochemical and chemical markets, including Ethylene dichloride.
We offer unbiased and independent price reporting, with our price assessments being widely quoted as benchmarks in contracts.
Our information is collected from market participants by our global network of reporters, delivering unrivalled coverage of established and emerging markets, including China and Asia.
ICIS price assessments are based on information gathered from a wide cross section of the market, comprising consumers, producers, traders and distributors. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments, giving you a robust reference for your negotiations.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Ethylene dichloride. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Ethylene dichloride, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.