Hamburg (Germany): After a period of stagnancy in the previous week, ethylene prices have rebounded across the European market in the third week of January xxxx. The region experienced significant shipping disruptions due to the Red Sea unrest, resulting in soaring freight rates, equipment shortages, delivery delays, and longer lead times. Olefins, particularly ethylene, faced reduced availability from the exporting market, creating a "perfect storm" of challenges.
Despite subdued demand for ethylene from downstream derivative industries since the third quarter of xxxx, driven by macroeconomic headwinds and dampened consumer buying sentiments, it was insufficient to drive ethylene prices lower in the regional market. Additionally, the European economy faced mild recession and high inflation, with prolonged disruptions of trade through the Red Sea potentially preventing central banks from cutting interest rates this year.
According to ChemAnalyst&#xx;s latest database, ethylene prices in the German market have...
