Posted: June 15th, 2012 | Author: Rod Sherkin | Filed under: Chemicals, Plastics | Tags: plastics | No Comments »
Global petrochemical prices fell by 11% in May, their biggest month-on-month drop since November 2008, when the worldwide economic crisis became an accepted and painful reality.
Prices in the $3-trillion-plus global petrochemicals market averaged $1279/tonne in May, plummeting by $165/tonne according to the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.
Platts noted that all seven components of the PGPI were lower in May, with propylene and ethylene experiencing the largest losses (17% each).
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Posted: June 2nd, 2012 | Author: Rod Sherkin | Filed under: Plastics | Tags: ethylene, plastics | No Comments »
U.S. prices for the chemical building block ethylene reached a seven-month low in May, dropping below 50 cents per pound, according to PetroChem Wire, a daily newsletter serving the petrochemical industry.
Reduced ethylene production due to plant maintenance closures supported the ethylene market earlier in the second quarter. Ethylene peaked at just over 75 cents per pound at the beginning of April. On May 31 it traded at 46.5 cents per pound.
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Posted: May 25th, 2012 | Author: Rod Sherkin | Filed under: Plastics | Tags: polyethylene, polypropylene, PVC | No Comments »
An uncertain demand picture and increasing feedstock supplies have combined to drive down North American prices for polyethylene, polypropylene and PVC resin since May 1.
Regional polyethylene prices are down an average of 7 cents per pound, while polypropylene prices have tumbled 10 cents and PVC prices have taken a 2-cent dip, according to buyers and market watchers contacted recently by Plastics News.
via Plastics News – North American prices fall for polyethylene, polypropylene and PVC.
Posted: May 1st, 2012 | Author: Rod Sherkin | Filed under: Plastics | Tags: ehylene, plastics | No Comments »
U.S. prices for ethylene, the building block chemical for products ranging from plastic bags to antifreeze, recently reached levels not seen since the 2005 hurricane season, according to PetroChem Wire, a daily newsletter serving the petrochemical industry.
Ethylene touched 75.125 cents per pound on April 4, the highest level in at least seven years, PetroChem Wire reported. Prices began 2012 at 56.75 cents per pound. Ethylene climbed as unplanned plant outages and scheduled maintenance caused supply to fall short of demand.
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Posted: July 29th, 2011 | Author: Rod Sherkin | Filed under: Plastics | Tags: PE, PET, polye, polypropylene, PP | No Comments »
A summer heat wave has melted North American prices for polyethylene, polypropylene and PET bottle resin.
Since July 1, average selling prices for high, low and linear low density PE in the region are down 3 cents per pound, according to buyers and market watchers contacted recently by Plastics News.
Average PP prices have fallen 4 cents per pound in that same time frame, while average prices for PET are down 2 cents, sources said. These changes are reflected on this week’s PN resin pricing chart.
via Plastics News – Prices fall for polyethyene, polypropylene and PET resins.
Posted: May 14th, 2011 | Author: Rod Sherkin | Filed under: Plastics | Tags: ethylene | No Comments »
US ethylene spot prices rose by 5% in the last three days, market sources said on Friday, citing growing fears that flooding will affect operations at crackers near the Mississippi river.
Ethylene for May traded at 70.50 cents/lb ($1,554/tonne, €1,088/tonne) on Friday, up from deals done at 67 cents/lb early in the week.
Market sources said the surge in spot prices stemmed from concerns that expected flooding next week could disrupt production at a number of crackers near the Mississippi river in Louisiana.
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Posted: April 20th, 2011 | Author: Rod Sherkin | Filed under: Plastics | Tags: crude oil, ethylene | No Comments »
US ethylene spot prices fell sharply during the week ended 15 April, dropping by 10% to 58.50 cents/lb in one day on pressure from lower ethane and crude oil prices early in the week.
US ethylene margins fell by nearly 4% in the second week of April following a drop in ethylene spot prices, the ICIS margin report showed on Monday.
Ethylene spot margins were at 32.54 cents/lb ($717/tonne, €495/tonne) last week, down from 33.81 cents/lb in the previous week, using ethane as a feedstock.
Crude oil prices fell after a large US investment bank warned its clients that prices had climbed far above the values supported by market fundamentals.
The comment spooked investors, causing the front-month West Texas Intermediate (WTI) contract to shed 6% in only two days.
For more information, click the link below.
via Textile News – USA : US ethylene margins fall nearly 4% on weaker spot prices.
Posted: March 12th, 2011 | Author: Rod Sherkin | Filed under: Plastics | No Comments »
Chemical prices are set globally by naphtha-based producers. That lets Dow and its peers charge the higher industry price and bank the margins from using cheap natural gas.
Cheap natural gas is giving U.S. chemical companies an edge over European rivals, many of which are increasingly anxious about soaring crude oil prices resulting from uprisings in the Middle East.
That edge should lift 2011 margins and earnings at Dow Chemical Co., Westlake Chemical Corp., LyondellBasell Industries NV and other American-based commodity chemical producers.
Large-scale exploitation of shale formations in the United States has driven down natural gas prices by 12 percent in the past year, highlighting the growing disconnect between the costs of crude oil and natural gas.
Both natural gas and crude are used to make ethylene, propylene and other basic chemicals. They in turn are used to produce swimming pool liners, pantyhose, diapers and other common products.
Brent crude prices have jumped 46 percent in the same time period—and 17 percent in the last month alone—as democratic revolts have rippled across the Middle East, causing supply concerns among Europe’s chemical leaders, including Lanxess AG and BASF AG.
via Crude oil price surge helps U.S. chemical makers.
Posted: March 10th, 2011 | Author: Rod Sherkin | Filed under: Plastics | No Comments »
US HDPE blow molding spot export prices increased nearly 3.5 cents/lb ($77/mt) to 64 cents/lb ($1,411/mt) FAS Houston, trading sources said Wednesday.
“I can export all day at 64,” a trader said.
Traders said they were able to easily sell blow molding into into Antwerp at $1,540/mt CFR. Considering freight of about $70/mt, there was plenty of margin for exports.
“I think producers are moving it internally, too, since their costs are so much lower in the US,” a trader said.
European ethylene costs have been impacted from the recent jump in oil prices, while US ethylene economics have been spared the oil surge as they are based more on ethane.
The spot ethylene price in Europe was assessed Wednesday at Eur1197.5/mt ($1,665/mt) FD NWE, which was significantly higher than the US price, which was close to 54 cents/lb ($1,193/mt) FD USG.
via US spot HDPE blow molding prices increase on European demand – Petrochemicals | Platts News Article & Story.
Posted: February 18th, 2011 | Author: Rod Sherkin | Filed under: Plastics | No Comments »
Spot ethylene prices in USA peaked to a three month highs, with February volumes heard done at the 52- and 53-cent/lb levels, as per Platts. These levels were previously seen on November 10, 2010, while February spot ethylene was last assessed Tuesday at 49.125 cents/lb.
Ethylene has been on a steady climb since February 8, when a major feedstock supplier Enterprise Products Partners declared force majeure out of the facility out of its Mont Belvieu, Texas unit after a massive fire at a key storage facility. Supporting ethylene’s surge were strong ethane values, which reached the 76-cent/gallon level in Tuesday morning trading before scaling back in the afternoon and into Wednesday. A downed olefins unit at LyondellBasell's complex in La Porte, Texas, and ExxonMobil's move to put certain high-density polyethylene products out of its Mont Belvieu, Texas, plant on allocation, were also having an effect on prices.
via Supply constraints propel spot ethylene prices in USA to three-month highs.