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Asian cracker operators plan to maintain ethylene production capacity at full capacity for the third consecutive month in July due to the firmness of derived polymer prices. According to an informal survey of ethylene operators in northeast Asia and Southeast Asia, ethylene cracker operators in the region are expected to maintain a load drop of 90%-100% during the month.
The delay in the export of polyethylene (PE) and ethylene glycol from the Middle East to Asia, coupled with delays in the commissioning of several new ethylene plants in China, led to higher polymer prices in June, although demand for soaring oil prices has gradually begun to weaken. Last week, China's high-density polyethylene (HDPE) film-level spot price was 1,200-1,280 US dollars / ton (cost and freight). With the spot price of ethylene maintaining this normal spread of 300 US dollars / ton, ethylene spot price for the 8-month high of 910-950 US dollars / ton (cost and freight) in Northeast Asia. Due to the lucrative profits of polyethylene producers, some olefin traders are eager to push ethylene prices up to US$1,000/tonne (cost and freight) over Asia, and the recent July delivery ethylene price is US$920-950/tonne (FOB ,Taiwan). In particular, the raw material naphtha price rebounded this week, and the crude oil price regained US$71/barrel to provide some support for the rise in ethylene prices.
The delay in the export of polyethylene (PE) and ethylene glycol from the Middle East to Asia, coupled with delays in the commissioning of several new ethylene plants in China, led to higher polymer prices in June, although demand for soaring oil prices has gradually begun to weaken. Last week, China's high-density polyethylene (HDPE) film-level spot price was 1,200-1,280 US dollars / ton (cost and freight). With the spot price of ethylene maintaining this normal spread of 300 US dollars / ton, ethylene spot price for the 8-month high of 910-950 US dollars / ton (cost and freight) in Northeast Asia. Due to the lucrative profits of polyethylene producers, some olefin traders are eager to push ethylene prices up to US$1,000/tonne (cost and freight) over Asia, and the recent July delivery ethylene price is US$920-950/tonne (FOB ,Taiwan). In particular, the raw material naphtha price rebounded this week, and the crude oil price regained US$71/barrel to provide some support for the rise in ethylene prices.
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