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Ethylene and Propylene prices climb in Asia last week

On Monday, September 20, 2021 at 02:45 IST

Energy and feedstock news:
Crude oil prices dropped last Friday on reports of Russia's plans to boost their oil exports. Also, rising pandemic cases globally inciting fears of a slowdown in demand for oil and fuel and the strengthening of the US dollar further supported the price fall. Brent crude prices declined by 33 cents settling at $75.34 per barrel, while WTI futures tumbled by 64 cents settling at $71.97 per barrel.

Last Friday, open spec naphtha prices edged higher by USD 1/MT to the USD 702/MT CFR Far East Asia levels.

Last week ethylene prices climbed higher in Asia. The price rise was on the back of a sharp week on week gain in upstream crude and naphtha values. Reports of continued tight product avails further contributed to the price rise.

Last week propylene prices gained in Asia. The price rise was prompted by firmer upstream crude and naphtha rates, coupled with stronger buying trends witnessed in key markets like China.

Futures on China Dalian Commodity Exchange:

On September 20, 2021:
- LLDPE prices are higher by RMB 155 (USD 19.91)/mt at RMB 8915 (USD 1145)/mt
- PP prices are up by RMB 120 (USD 15.41)/mt at RMB 9000 (USD 1156)/mt
- PVC prices are higher by RMB 225 (USD 28.90)/mt at RMB 10050 (USD 1291)/mt
- MEG prices are up by RMB 26 (USD 3.34)/mt at RMB 5454 (USD 700)/mt

In plant news:
Shaanxi Yulin NG Chemical is likely to bring on-stream its Methanol unit in the first half of October 2021. The unit was shut for maintenance on August 10, 2021. Located in Yulin, Shaanxi province, China, the unit has a production capacity of 700,000 mt/year.
That's all for today's Polymer news. Watch our daily news video tomorrow to know more.

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