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Rising crude sets polyester chain market on uptrend in September

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Crude oil prices rose in September due to disruptions in US gulf coast aftermath Hurricane Harvey while geopolitical instability in Iraqi Kurdistan aided Brent to register its strongest third-quarter price performance since 2004. US crude prices jumped 4.2% on the month while Brent rose 7.6% as compared to previous month’s average. For September, Asian spot naphtha prices were up 10.4% on the month.

Falling feedstock price weakens downstream polyester chain

Related Keywords: Ethylene prices in Asia, Ethylene prices in Europe, Ethylene prices in US, MEG price in Europe, meg price in US, meg prices in Asia, paraxylene price in US, paraxylene prices in Asia, paraxylene prices in Europe, pfy price in China, pfy price in India, pfy price in Pakistan, Polyester price, psf prices, pta price in Asia, pta price in Europe, pta price in US

Ethylene prices declined sharply in the first week of March in North East Asia as demand dropped for downstream styrene monomer while other derivatives like PE weakened significantly. In US, ethylene spot fell on longer supply as Formosa Plastics Texas unit returned from turnaround while February contract was settled higher on the month. European ethylene market was bullish as material remained tight amid firm demand remains.

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