Rollover in November ethylene contract prices in Brazil

Ethylene contract prices in Brazil for November have been rolled over from October levels following stability in European price, as per Platts. October contract price for Brazilian domestic market was at around US$1650/mt FOB, and US$80/mt lower for September. Brazilian ethylene contract prices have a formula attached to the European price movements with a month lag. October European contract price settled at €1115/mt, flat to September. Braskem has shut its Triunfo steam cracker in Rio Grande do Sul state for a programmed maintenance shutdown on October 26. The company has two steam crackers on the site, and the one under shutdown is the smallest. The smaller cracker can produce 500,800 tpa of ethylene and 264,000 tpa of propylene, 40% of the olefins produced in the complex. Along with the cracker turnaround, Braskem shuttered PE 4 plant for maintenance on November 1 for 10 days and plans to halt PE 5 plant on November 14 for 10 days. The turnarounds are unlikely to have any impact on the Brazilian domestic market or export contracts because of ample stockpiles. Braskem's 415,000 tpa capacity PE 5 plant produces LLDPE and HDPE. Its 550,000 tpa PE 4 plant produces HDPE, LLDPE, and green polyethylene.
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