Ethylene Polyethylene China domestic market

Ethylene Polyethylene China domestic

Ethylene supplies to China’s domestic spot market up

Ethylene Polyethylene China domestic

 

MOSCOW – Ethylene supplies to China’s domestic spot market grew amid declining activity in the consumption sector, ICIS reports.

Several Chinese manufacturers tried to sell more than 20 thousand tons of ethylene on spot for deliveries in February and March.

The oversupply was partly the result of government-sanctioned transportation restrictions and the prolonged closure of plants that process ethylene derivatives following an outbreak of coronavirus. Ethylene Polyethylene China domestic

One producer sold 4–5 thousand tons of ethylene at a spot for delivery in February, before shutting down its polyethylene (PE) plant.

Restrictions on the transport of material through China in an attempt to limit the spread of coronavirus (2019-nKoV) violated the supply chain and prevented migrant workers from returning to their jobs. Ethylene Polyethylene China domestic

Many provinces, municipalities and autonomous regions forbade enterprises to open before February 10.

Another manufacturer offered two batches for loading in February after having encountered difficulties in delivering ethylene by tank trucks to some of its customers.

The decline in spot demand from factories in China amid declining production intensified downward pressure on prices. Ethylene Polyethylene China domestic

On Wednesday, a spot deal was concluded at a price of USD810 per tonne, CFR NE Asia (Northeast Asia) for delivery in March, compared with USD840-860 per tonne, CFR NE Asia the previous week.

Ethylene is the main raw material component for the production of polyethylene (PE).

According to ScanPlast of Market Report, the estimated PE consumption in Russia amounted to 1,904.41 thousand tons in the eleven months of last year, which is 6% more than the same indicator a year earlier. Deliveries of all types of polyethylene increased. PE supplies increased both from Russian manufacturers and from external suppliers.

mrcplast.ru

Author:Anna Larionova

Ethylene Polyethylene China domestic

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