- Asia ethylene-naphtha spread above $200-220/mt- Talks with players about term contracts





Despite falling crude oil prices, Asian
ethylene was stable Nov. 28, compared to Nov. 25, With rapidly falling upstream crude oil prices,
spot price discussions were limited on Nov. 28. The January
ICE Brent futures fell $4.81/barrel between Nov. 25 and $81.10/b November 28 at
4:30pm Singapore time (830 GMT). The CFR Japan naphtha prices fell
$29.50/mt in line with plunging crude oil futures to $669.50/mt November 28.
This is below the $300-$350/mt breakeven spread. The
downstream market remained stable, as the high-density polyethylene (HDPE)
price increased $10/mt between Nov. 25 and $930/mt November 28. The data
revealed that the spread price between PE and Ethylene remained at $50-55/mt on
Nov. 28. The spot price discussion was also limited because
most market participants were...