Prices Movement Report: JANUARY 30 - FEBRUARY 03, 2012
• Average Dubai Crude price slightly surged by $0.36/bbl to be at $109.41/bbl, supported by concerns over geopolitical tension.
• Average Asian Naphtha price increased by $9/ton from $979/ton to $987/ton due to tight supply in the region.
• Asian Ethylene price up by $20/ton to be at $1,175/ton in response to rising naphtha feedstock price and limited spot supply in the region.
• Asian Mono Ethylene Glycol (MEG) price rose to $1,123/ton, up by $12/ton, due to high crude price and restocking after Lunar New Year holidays.
• Overall Asian Polyethylene (PE) prices surge on the back of an increase in upstream ethylene feedstock price and firm market sentiment. LDPE price surged to $1,385/ton, LLDPE price rose to $1,280/ton and HDPE price increased to $1,360/ton.
• Asian Propylene price increased by $40/ton to be at $1,260/ton on the back of strong feedstock naphtha and expectation of tight supply in March.
• Asian Polypropylene (PP) price increased by $60/ton to be at $1,415/ton due to high propylene feedstock price.
• Asian Benzene prices dropped by $15/ton to be at $1,175/ton as a result of a decline in US benzene prices and weak demand from downstream SM.
• Styrene monomer (SM) price dropped to $1,433/ton, a decline by $10/ton, as a result of high inventory in the key China market.
• Polystyrene (PS) price rose by $55/ton to be at $1,555/ton in response to restocking activity to prepare for the production season.
• Paraxylene (PX) price increased to $1,600/ton an increase of $21/ton due to strong demand and tight supply.
• Purified Terephthalic Acid (PTA) price increased by $39/ton to $1,188/ton on the back of strong PX feedstock prices.
Trend 6-10 February 2012 : upward trend
• Restocking after long holiday period
• An upward trend in global crude future
• Cracker schedules a turnaround plan in March
• The global economic crisis and euro depth crisis