"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.6 No.6 June 2008

PTIT BANGKOK PE, PP PRICE STATISTICS
(week 3rd APR 2007 -week 2nd MAR 2008)
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PTIT PETCHEM: Olefins and Derivatives, June 2008

  • Generally, May crude price was still in upward trend with the reduction only at the end of the 2nd week and the last week of the month. Main factors contributed to the price increase were still supply concern and depreciation of US dollar; this caused May average Dubai crude price increased by US$15.4/barrel, to be at US$118.86/barrel. Asian naphtha price also moved in the same direction as crude price during the month and caused May average naphtha price to increase to US$1,058/ton.
  • Besides the increase in naphtha price, May Asian ethylene price still increased due to the tight Asian ethylene market from cracker reduced operating rate and shut down for maintenance or solving technical problems. Although each weekly price during May did not increase as jumping, May average ethylene price was more than US$100/ton higher than that of April, to be at US$1,402/ton.
  • Asian propylene market was still tight in May as many crackers were still reduced operating rate and shut down for maintenance or solving technical problem. Besides, a big portion of propylene supply disappeared from the market as Formosa Polypropylene had started up its new PP unit in China.
  • Changes in start up schedule of some MEG producers in Asian and Middle will result in at least 2.9 million tons/year of MEG capacity addition by 2008.
  • BASF plans to invest in engineering plastic compounding in India to serve the growing automotive industry.
  • Domestic PE and PP price increased following the Asian market in May whilst buying volume increased as there was no long holidays as in April.