Crude oil prices have dipped by almost 10% this week, on report that supplies have recorded a less than expected decline. Naphtha prices have dipped in line with robust crude prices. VCM has stagnated at levels where prices are perceived to have bottomed out due to diminishing downstream PVC demand, while EDC prices have dipped on continuing bearish market sentiments. Ethylene prices have risen due to limited availability of spot prices. Propylene prices have risen on robust demand from downstream PP makers. Styrene Monomer prices dipped on bearish upstream benzene markets.Propped by strong demand, HDPE prices continued to rise and LLDPE rose in line with optimistic HDPE market. LDPE and PP markets have gained strength on the back of limited availability. PVC prices stagnated on the lack of movement in the market. GPPS and ABS prices have dipped in line with falling Styrene Monomer prices.
CRUDE OIL Crude oil prices that touched an all time high of near hundred dollars last week, plummeted halfway through the week of December 3, 2007. Mid-week, a US government report showed that supplies have recorded a less than expected decline. Oil prices have dropped, but continue to linger below US$90 per barrel in anticipation of a decision by OPEC to raise output at a meeting this week.
Tuesday, December 04, 2007
Price trends of oil, polymer feedstock & commodity polymers in Asia for the...
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