Updated to mid-November 2009
European market review by Heidi Finch, ICIS pricing
European ethylene oxide (EO) contract prices moved up in August and September 2009, driven by feedstock price rises. However, reasonable-to-improving demand, along with maintenance and production difficulties pushed up EO contract prices in August and September further than the formula movement.
In August, EO contract prices were assessed up by €10-20/tonne between €920-980/tonne FD (free delivered) NWE (northwest Europe) and €950-980 FD Med (Mediterranean). In September, prices rose by €65-100/tonne to €985-1,050/tonne FD NWE and €1,020-1,080/tonne FD Med.
By contrast, EO prices trended downwards in October and November by €12/tonne and €18-28/tonne respectively, taking November values to €950-1,010/tonne FD NWE and €990-1,040/tonne FD Med. This was driven by lower feedstock values and improved availability.
US market review by Gene Lockard, ICIS pricing
The EO market was largely unchanged in the US during the three month period to mid-November, with prices remaining at 48-55 cents/lb ($1,058-1,213/tonne) for much of the customer base.
Because EO prices are formula-based and keyed to the price of ethylene values, the overall stability in the ethylene market kept a support floor under EO, despite a lack of strong demand.
EO demand was up from the first half of 2009, but it remained well under normal levels, a seller said.
Approaching the end of the year, most EO sources said it could be several months before a significant upswing in demand takes place.
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Ethylene Oxide
Uses and Outlook
The largest outlet for ethylene oxide (EO) is ethylene glycol (EG), which accounts for 77% of EO consumption globally. Monoethylene glycol (MEG) is the primary glycol which is used mainly to make polyester followed by automotive antifreeze.
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Ethylene Oxide
Process Technologies
Ethylene oxide (EO) was initially manufactured using ethylene chlorohydrin as an intermediate, but this route has been superseded by the direct oxidation of ethylene with air or oxygen. Now, nearly all the world's EO capacity is based on direct oxidation, with oxygen generally preferred over the air route in larger plants due to higher yields and less downtime.
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