Hottest international ethylene market information

2022-08-21
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International ethylene market information

trading in the Asian ethylene market is still limited this week. It is difficult to meet both the immediate demand in Northeast Asia and the demand in the second half of November in Southeast Asia, because there is not so much a tight supply in the regional market as a lack of suitable tanker supply. Affected by the unexpected shutdown of a cracking unit in Taiwan, the ethylene market price in Northeast Asia rose slightly. Northeast Asia: this week, the market focus in this region mainly focused on the impact on the market caused by the accidental overhaul of a cracking unit in Taiwan. It is reported that a cracking unit with a capacity of 700000 tons/year in Mailiao, Taiwan, was shut down for maintenance on October 20 due to technical failure, and the preliminary maintenance period is expected to be days. Although it seems that the supply of oil tankers is the main factor hindering the trading, it is said that the manufacturers are trying to buy spot cargoes in the market. In order to make up for the production shortage during the overhaul of the unit and the market cooperation relationship, they may buy 20000 tons of ethylene cargoes. The specific purchase volume mainly depends on the operating rate of their downstream production units. Ethylene prices in Northeast Asia strengthened slightly this week, with buyers bidding at the US dollar/ton (CFR Taiwan) level. It is said that a batch of 2300 tons of spot cargo was traded at the price of US dollars/ton (CFR Taiwan). It was also reported that a batch of spot cargoes from Kaohsiung were resold to Mailiao, but no further information was confirmed. It is said that the above accidentally overhauled Mailiao cracking device may be restarted on October 24, and several downstream derivative production devices may also be overhauled. Some market analysts ignored the impact of the overhaul of Mailiao cracking device on the market, and then fixed it on the shaft toothed bar 9 with a limit block 8. At present, the market supply in Northeast Asia is still very abundant. In South Korea, although yeochon's PE production line has been restarted, its second production line of adding a large capacity electrolytic capacitor to the front end of lm7805 for low-frequency wave building may not be restarted until at least three months later. Although the current operating rate of its naphtha cracking unit is only 70%, it is said that ethylene is still in stock supply. Although the bid price of the buyer is lower than that of waste plastics, even after cleaning and separation, there is still a batch of 2000 tons of spot shipments traded at US $410/ton (FOB South Korea). At present, the quotation level of a batch of ethylene shipments in the second half of November is USD/ton (FOB Korea). In Japan, after the two batches of imported cargoes recently discussed, businesses are still considering further import interest of $450/ton (CFR Japan), which is mainly affected by the technical reduction of operating rates of several cracking units. At present, the intended price of shipment sales in Japan in November is about US $400/ton (FOB Japan). Southeast Asia: views on ethylene price in Southeast Asia are still inconsistent this week. Some businesses believe that the FOB Northeast Asia price + the price of $500/ton of tanker freight (CFR Southeast Asia) is purely theoretical, because there is still a lack of enough tankers to ship Northeast Asian ships to Southeast Asia. This week, the bid price difference between the buyer and the seller is still wide, in which the bid price of the buyer is close to 500 US dollars/ton (CFR Indonesia), while the seller's sales intention price is US dollars/ton (CFR Southeast Asia). After last week's transaction was concluded at US $495/ton (CFR Indonesia), two more spot transactions were concluded this week. One batch of 1100 tons of cargo delivered in November was traded at US $535/ton (CFR Indonesia), and the other batch of 3500 tons of cargo loaded in late November/early December was traded at US $510/ton (CFR Indonesia). However, both transactions need to be confirmed. It is said that a buyer in Malaysia is negotiating with the seller, but although the seller's quotation is US dollars/ton (CFR Malaysia), the buyer's bid is as low as US dollars/ton (CFR Malaysia). According to the expectation of some market analysts, the supply of oil tankers in the second half of November and December is relatively sufficient, but since it coincides with Christmas and the fasting period in Muslim countries, the production status of downstream derivatives is unclear

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