Ethylene prices are in free fall around the globe, pushed lower on falling natural gas and petroleum, as well as weak downstream demand. Pricing service ChemOrbis said spot ethylene values have lost $45/ton on CFR Northeast Asia basis the first two trading days of this week and more $100/ton compared the week prior. Going back the start of May, ethylene prices are off $255/ton, according to ChemOrbis.
ChemOrbis noted that the market is grim enough for producers that several cracker operators in Asia are considering run cuts in order to bring a halt to the freefall in ethylene prices.
In Europe, spot ethylene prices have also been on the decline since the start of May. Prices are off €70/ton going back a week, with a total decrease from early May of €160/ton.