A persistent fall is being witnessed in ethylene and propylene prices in Asia as demand continues to deteriorate from downstream sector, leading to inventory build up. Sellers have expressed intent for October shipment at US$1150/MT CFR Asia. However, they continue to be faced with reluctance from unenthusiastic buyers in the continent, who have pegged an interest to buy atleast 50-100 dollars lower. In a bid to cope with this drastic cut in demand, key players have decided to reduce operating rates.
Downstream LLDPE prices have witnessed a drastic fall this week as demand remains lackluster in the continent. Seller's offers have moved further down to US$1575/MT levels, while buying intention has dipped to hover around 1500 mark.