Restrained downstream markets spell gloomy outlook for Asian ethylene

Persistent lackluster demand from downstream industry has continued to dampen sentiments in the ethylene markets of Asia. Downcast end user demand has pressured sellers to down adjust ethylene CFR Asia offers below the 1500 dollar mark. However, demand is not expected to pick up even at these reduced rates as saddled with large stock piles, buyers intentions have already dipped further by over hundred dollars. Most buyers prefer to wait in the sidelines in anticipation of price corrections as the prices of downstream products continue to soften.
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