Hamburg, (Germany): Ethylene prices have gained an upward momentum across the European market during the last week of July xxxx driven by supply disruption. A shift in the supply outlook was blamed for the changing sentiment, buoyed by regional production hiccups, disrupted import flow, and upcoming autumn turnarounds. Additionally, the rise in raw material costs has further pushed up the prices of Ethylene. Though, demand from the downstream derivative industry has remained average owing to a seasonal lull.
The gain in the German Ethylene spot prices ascended from supply pressures as depleted stockpiles promoted buyers to replenish material, with some pre-buying seen in July prior to the onset of the summer holiday season when downstream demand is typically average. Meanwhile, participants are reportedly exercising caution and making need-based purchases owing to a lack of clarity clouding market prospects in the short term....
