Despite Korean suppliers lowering ethylene offers to level of US$900/mt FOB Korea for 2H of April shipment, buying intentions were lower. Asian ethylene prices continued to fall last week pressured by ample avails for April and May shipment, as buying interest hovered below US$850/mt FOB Korea. Buying seemed to have slowed down from most end-users in Taiwan, as they wait and watch for Formosa's no.3 naphtha cracker that is scheduled to start up the commercial production by the end of April. In SE Asian market, buying ideas were pegged at around USD1,000/mt CFR SE Asia.
Propylene prices also slipped further due to increasing supply from S.Korea and Taiwan. Market prices fell to the level of USD1070-1080/mt FOB Korea, but demad continued to be subdued from end-users.
03-Apr-07 
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