Brazilian August ethylene contracts expected to be flat to July

Chemical News: Brazilian August ethylene contracts expected to be flat to July

https://www.chemnet.com Aug 03,2010
In Brazil, ethylene contract prices for August should be at the same
levels compared to July, said a source Friday.

Even though prices went up Eur12/mt in July due to the exchange rate
between the dollar and reals, the Brazilian contract for ethylene may be
without any movements.

Brazilian ethylene contract prices usually follow the European contract
price movements with a month lag.

July ethylene price for the Brazilian domestic market was heard at
$1,215/mt FOB.

Downstream, for the Brazilian polyethylene domestic market, Braskem offer
prices should be stable for August.

"Polyethylene shouldn't see any further reductions and prices should
become stable. We should see the same closing prices in August compared to
July. Resin demand in the Brazilian domestic market is doing well, and volumes
are recovering with the arrival of the National Children's Day in October,"
said a company source.

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