Ethylene dichloride prices in Germany dropped dramatically in early November, to continue the bearish streak. Buyers described feedstock availability as ample, aided by free electrolysis and weaker PVC demand. Surplus co-produced chlorine and weak caustic soda spot export prices were further evidence of plentiful feedstock availability with no large interruptions in supply. The absence of construction activity seasonality further contributed to PVC converters’ weak pull, which described demand as moderate, still pulling slightly below consumption, partly due to procuring spot tenders. Adding to this was a 40-day steam cracker maintenance shutdown at the Wesseling site, which saw quantities of domestic feed ethylene decrease, although steady extrusion activity was reported due to refurbishment programs and wind cabling use. Overall, earlier in the month, price levels of ethylene dichloride were described as generally unchanged, as continued weak downstream demand continued to mitigate the effect of lower input costs from feedstock ethylene dropping 1.4% week on week. Logistics issues at ports in Hamburg, Rotterdam, and Valencia continued to mitigate the flow of cargoes.
