Hamburg, (Germany): Following a two-week period of stability, Ethylene prices unexpectedly increased across the European market during the fourth week of May xxxx, supported by high raw material costs. Meanwhile, delayed shipments due to a lack of container availability and firmer import offers from overseas suppliers pulled prices higher in the region. However, demand from the downstream derivative industry has remained under pressure amid external headwinds. All eyes are now on June, with questions about whether the market will align with the global uptick or if the approaching holidays will dampen demand further, keeping prices on the weaker side.
Despite low crude oil prices, feedstock Naphtha prices have increased this week, resulting in higher production costs for Ethylene within the domestic market, contributing to an upward shift in Ethylene price realization. Furthermore, in the domestic market, operating rates have been average, currently around xxx-xxx, and are expected...
