Falling crude and naphtha values and deteriorating downstream demand continues to exert pressures on ethylene prices, keeping market outlook persistently gloomy. FOB Korea ethylene prices dipped below US$1000/MT in Asia even as the Chinese return to the markets after a week long break. Naphtha prices in the continent dipped to hover around US$750/MT CNF Japan, further diluting buying sentiments for ethylene. Buyers prefer to wait and watch for a further ethylene price correction in line with falling input costs. Sellers continue to offer material at around 1000 dollars, but are being met with reluctance from buyers, leading to a downward evaluation of offers by a further fifty dollars.
07-Oct-08 
