Equity Analysis /
Turkey

Petkim: Ethylene-naphtha spread was up by 7.4% w/w to US$685/ton

  • Ethylene preices remained flat w/w at US$1,229/ton

  • Naphtha preices declined by 7.8% w/w to US$544/ton

  • The spread averaged at US$623/ton in 1Q21 vs. 4Q20 average of US$408/ton

Zeynep Erman
Zeynep Erman

Equity Research Analyst

ATA Invest
12 April 2021
Published by

Ethylene-naphtha spread was up by 7.4% w/w to US$685/ton on Apr’09 thanks to 7.8% w/w lower naphtha prices.

The spread averaged at US$623/ton in 1Q21 vs. 4Q20 average of US$408/ton. Petkim’s 1Q21 results will be stronger, thanks to higher ethylene-naphtha spread. We expect US$527/ton spread for 2021.