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Ethylene prices quote lower in Asia

Petrochemical industry | 10 Jun 2021 08:30 IST | Polymerupdate.com

Despite high upstream crude and naphtha rates, Ethylene prices were assessed lower in Asia on Wednesday. The price fall was on the back of weaker buying sentiments in the region and ample product availability.

Bearish downstream PE product demand and pricing trends further supported the price drop.

CFR North East Asia ethylene prices were assessed at the USD 950-955/mt levels, a fall of USD (-10/mt) from Tuesday's assessed levels.

CFR South East Asia prices were assessed lower at the USD 910-915/mt levels, a week on week drop of USD (-10/mt).

In plant news, Sinopec Zhenhai Refining & Chemical, has recently bought on-stream its cracker. The cracker was shut for a maintenance turnaround in end-May, 2021. Located in Ningbo, Zhejiang, China, the cracker has an ethylene capacity of 1 million mt/year and propylene capacity of 550,000 mt/year.
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