With buying intention pegged as low as US$800/mt FOB Korea, markets in Asia for ethylene remained bearish last week, as supplies from South Koran producers remained abundant.
With demand in Asian markets ebbing, in a bid to get better FOB prices, Korean suppliers have been trying to move some ethylene cargoes to Europe with the end of May arrival terms. The Koreans are also considering a cut in operating rates because production margins have been seriously hurt by high naphtha prices on one hand and dull ethylene prices on the other hand.
Propylene also saw limited transactions and the market continued to be weak in Asia. Buyers kept a wait and see stance rather than giving firm bids.
09-Apr-07 
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