Competitive PE offers from USA favourable

Naphtha and ethylene prices have climbed in line with oil prices in Europe and Asia. However, advantageous natural gas prices in USA have resulted in ethylene being offered at a sharp discount, resulting in a wide gap in prices in USA and Asia/Europe. Hence, PE offers from USA have been very competitive. Increased costs of ethane pushed up ethylene prices in USA in mid-October that held steady for about a week. However, by end of month, falling ethane values, an ease in the supply scenario and lack of buying enthusiasm pulled down ethylene markets to less than US$700/MT. Supplies are expected to ease with the expected start up of Shell’s cracker at Texas. The long period of transit, however, seems to be a hurdle to easy sales from USA.
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