London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Europe February ethylene, propylene prices to rise further

January 24/2011

(ICIS) -- February contract prices in Europe for ethylene (C2) and propylene (C3) are expected to increase from this month's prices because of a bullish outlook on feedstocks and robust demand, market sources said on Friday.


While upward price adjustments were widely expected for both C2 and C3, owing to the tight supply-demand balance, some consumers were unhappy with the magnitude of the increases already being discussed by some players, notably polyethylene (PE) producers.


This week, a number of PE and PP producers were already signalling extensive price increases next month for their downstream markets because of their expectations of how the monomer contracts will settle.


Margin-analysis data compiled by ICIS show this to be true, with the average December 2010 contract cracker margin at ?153/tonne ($204/tonne), while the January-to-date margin was at ?309/tonne.


Overall, price hikes of between ?15-40/tonne and ?20-50/tonne were being mooted for ethylene and propylene contracts, respectively. The settlements were expected next week.


The January ethylene contract price settled at ?1,110/tonne FD (free delivered) NWE (northwest Europe), up by ?105/tonne from December.


The January propylene contract price settled at a record high of ?1,070/tonne, up by ?110/tonne from December. Spot prices were being talked at around contract value on a CIF basis, although the much stronger US market was leading to price discussions in Europe of around the contract price plus ?70/tonne.


mrcplast.com

 

Tags:No
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe