Ethylene prices in Asia plummeted last week. Prices plunged on the back of weaker upstream crude and naphtha rates on the one hand coupled with a slide in downstream PE prices on the other.
Also supporting the price fall was ample availability and lacklustre buying in the region. On Friday, FOB Korea prices of ethylene were at the USD 915/mt levels, a steep slide of USD 120/mt from the previous week. CFR North East Asia prices of ethylene were assessed lower at the USD 955/mt levels, a whopping drop of USD 120/mt.
CFR South East Asia prices of ethylene were assessed down at the USD 900/mt levels, a steep week on week tumble of USD 95/mt.
In plant news, CSPCL is likely to shut its cracker in October 2015 for maintenance turnaround. The cracker is expected to remain off-stream for around 45-50 days. Located in Huizhou, Guangdong province, the cracker has an ethylene production capacity of 950,000 mt/year and propylene capacity of 500,000 mt/year.
In other plant news, CPC is in plans to shut its 380,000 mt/year No.4 cracker, located in Linyuan, Taiwan, in early November 2015 for maintenance turnaround. The cracker is expected to remain off-stream by around 50-55 days.