Ethylene prices extended their gains into the second straight week of August, with regular sellers seeking higher prices, citing the lingering logistic mishaps worldwide and unfavorable netbacks across the European market.
Prices of Ethylene have perceived an increment of USD xx/MT in the German market in the backdrop of constrained supplies. In the last few weeks, feedstock Naphtha prices have increased, resulting in the high production cost of Ethylene in the domestic market, contributing to a bullish market sentiment of Ethylene among the manufacturers. Furthermore, crude oil prices made a strong comeback last week, as participants regained a small fraction of the barrels, they had sold earlier due to the fears of an imminent economic recession in the United States, coupled with a substantial decline in export volumes to China. The price resurgence was further sustained by supply concerns amid mounting geopolitical tensions in...
