PE prices continue on an uptrend with rising ethylene values

19-Jan-09
After successful conclusion of deals at US$920/MT CFR China levels, LDPE from South Korea, South East Asia as well as the Middle East, is being heard offered for February about 20-25 dollars higher at around US$940/MT. Prices could come under pressure with Iran's Arya Sasol's 300,000 tpa LDPE plant coming onstream toward the end of the month. Rising prices of downstream PE along with increased naphtha values have pushed ethylene prices up in Asia. After conclusion of deal at US$610/MT, sellers have hiked offers for February shipment by ten dollars. Key producers in South Korea and Taiwan are starting to hike run rates at crackers in a bid to meet the increasing demand in a recovering market.
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