"PTIT
PETCHEM : Olefins & Derivatives"
is the first newsletter of its kind
published monthly by a Thai institution. PTIT Petchem looks closely
at the Thai petrochemical market price movements. The objective of
this report is to present REAL market behavior underscored by REAL
transacted prices to assist in business and operations decision making
and in policy planning.
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PTIT PETCHEM:
Olefins & Derivatives
Vol.8 No.2 February 2010
PTIT
BANGKOK PE, PP PRICE STATISTICS
(week 3rd June 2009 -week 2nd July 2009)
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PTIT PETCHEM: Olefins and Derivatives, February 2010
-
Overall
average crude prices surged from the previous month as markets became
optimistic over fast economic growth and its impact on energy demand
in tandem with very cold weather in much of northern U.S. in early
January and escalating geopolitical tension in key oil producing countries.
Dubai crude price increased by US$1.50/bbl to US$76.69/bbl. Naphtha
price was US$732/tonne, an increase of US$20/tonne from last month.
-
Ethylene
prices sharply increased from the previous month on the back of high
cost of feedstock ethane and naphtha, tight supply and healthy demand
in the region, less ethylene exports from Iran and the start up of
derivative units in Singapore. Asian ethylene price was US$1,314/tonne,
an increase of US$114/tonne from US$1,200/tonne in the previous month.
-
Asian
propylene spot price sharply increased in line with crude and naphtha
values, tight supply in the region and strong demand from downstream
derivatives. Asian propylene price for January was US$1,161/tonne.
-
The outlook
of Asian petrochemical in the second half of the year is likely to
be under pressure from China’s tightening monetary policy, the gradual
withdrawal of the government stimulus package in many countries in
Asia and the new cracker capacities coming on stream.
-
China’s
consumption of virgin resins increased by 20% in 2009, according to
CBI.
In plant
news:
Middle Eastern Petrochemicals
- Qatar Petrochemical Company plans to start up its new 1.3 tonnes/year
ethane cracker in Ras Laffan in February.
-
Asia Petrochemicals
- Sinopec-SABIC Tianjin starts up its 1 million tonnes/year cracker
at Tianjin and achieves on spec products.
-
Domestic
PE and PP prices increase on firmer upstream feedstock prices and
strong buying activities.
-
PTTCH
completes construction its new ethane cracker.
-
MOC completes
construction its new HDPE plant.
-
Delay
in start up of PTT’s separation gas plant will cause Thailand to continue
to import a large volume of LPG.
-
HMC Polymers
scheduled a turnaround at its PP plant in Map Ta Phut for the end
of January 2010