For the Quarter Ending March 2021
Asia
The Asian market faced huge demand for Ethylene and its
derivatives from downstream sectors which significantly supported its prices.
In China, Ethylene demand suddenly surged after lunar holidays, but tight
supply boosted the prices. Meanwhile, South Korean Hanwha’s 310 KTPA
manufacturing unit went for partial shutdown in March. This shutdown was
implemented to expand its production capacity and it is anticipated to resume
its operation in early Q2 2021. Furthermore, in February 2021, Sinopec Yangzi petrochemicals
in China, shut down its naphtha cracker of production capacity 450,000 tonnes
Ethylene per year for maintenance, which later resumed its operations in March.
Amid high demand from downstream products manufacturers, lower supply spiked up
the prices of Ethylene across the region. In India, supply shortages during
January to February pushed up the prices of Ethylene to USD 854 per MT which
later came down again to USD 828 per MT in March in effect of improvement in
supply activities.
North America
North America struggled to satisfy rising demand of Ethylene
as several production facilities faced force majeure and unplanned shutdowns
during Q1 2021. Eastman chemicals at Longview, Texas suspended its operations
after arrival of icy weather during February. Its plant capacity is 730,000 MT
Ethylene per year. Meanwhile, INEOS also has undertaken its Ethylene plant of
capacity 1.88 million MT per year off stream located at Texas. Similarly,
several other plants dented the regional supply chain of Ethylene that
skyrocketed the prices of Ethylene and its derivative products globally.
Europe
The European market had a firm demand from downstream
sectors, though the supply remained tight due to several reasons. Container
shortages reduced the exports and imports of feedstock materials across the
region and some unplanned outages reduced the global supply for Ethylene. Price trend in Europe overall remained up,
amid high demand and constrained product availability.
Market Overview: https://www.chemanalyst.com/Pricing-data/ethylene-40
Ethylene is a colorless, odorless, flammable and compressed
gas with a faintly pleasant odor. Ethylene is the simplest olefin and is one of
the most important petrochemical intermediates for the synthesis of several
products across plastics, solvents, cosmetics, pneumatics, paints and packaging
industries. Some of the widely used petrochemicals produced from Ethylene are
polyethylene, ethylene dichloride, ethylene oxide, ethylene glycol,
ethylbenzene, vinyl acetate etc. There are a variety of associated proprietary
technologies used for Ethylene production across the globe. Ethylene is
commercially produced by the steam cracking of a wide range of hydrocarbon
feedstocks which are heated to 750–950 deg Celsius. Ethylene is separated from
the resulting mixture by repeated compression and distillation. In Europe and
Asia, Ethylene is mainly produced from cracking naphtha, gasoil and condensates
while in the US, Canada and the Middle East, the production is carried out
through ethane and propane cracking. Global Ethylene capacities have been
unevenly spread across the global, influenced by infrastructure and port
facilities, feedstock availability, economic growth, and downstream demand
patterns.
Product Specific Details
CAS No.: 74-85-1; HS Code: 29012100; Grade:
Grade 2.5, 3, 3.5, 4, 4.5, 5, 5.5; Packaging Size: Tanker/Drum; Incoterms:
CFR, FOB, Ex-Works, Bulk Contracted, Spot
Countries Covered:
APAC – China, Japan, India, South Korea, Singapore,
Europe – Germany, France, Belgium
America – USA, Brazil
MEA – Saudi Arabia, UAE, South Africa
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