Ethylene prices rise in parts of in Asia

Last week, ethylene prices marched higher in some parts of the Asian region while quoting flat in Southeast Asia.

An industry source in Asia requesting to remain unidentified informed a Polymerupdate team member, "Prices gained on the back of constrained product avails. Meanwhile, hardly any shift was seen in buying indications amid demand weakness in several derivative sectors.”

The source added, “Downstream demand for ethylene vinyl acetate was high, especially for shoe foam grades and solar panels. Healthy demand fundamentals led to ethylene-based vinyl acetate monomer plants running at optimum capacity levels. However, some VAM producers continued to exercise caution when making ethylene purchases, given the uncertainty surrounding the sustainability of demand conditions.”

On Friday, FOB Korea ethylene prices were assessed at the USD 860-870/mt levels while FOB Japan ethylene prices were assessed at the USD 855-865/mt levels, both up USD (+10/mt) from the previous week.

CFR North East Asia ethylene prices on Friday were assessed at the USD 895-905/mt levels, a week on week increase of USD (+5/mt).

Meanwhile, CFR South East Asia ethylene prices were assessed stable at the USD 915-925/mt levels.

In Southeast Asia, market activity remained muted, as evidenced by minimal urgency seen in making purchases.

In plant news, Sinopec Maoming Petrochemical has postponed the turnaround of its No. 2 cracker to Quarter 4 2025. The cracker was earlier scheduled to undergo a maintenance turnaround in March 2025. Located in Guangdong, China, the No. 2 cracker has an ethylene production capacity of 640,000 mt/year.

In other plant news, Pengerang Refining and Petrochemical (PRefChem) is likely to restart its cracker in April 2025. The cracker was shut for maintenance in early February 2025. Located in Pengerang, Malaysia, the cracker has an ethylene production capacity of 1.2 million mt/year.

PTT Global Chemical (PTTGC) is likely to restart its No.1 cracker in April 2025. The cracker was shut for maintenance on October 1, 2024. Located in Map Ta Phut, Thailand, the No.1 cracker has an ethylene production capacity of 461,000 mt/year.