Ethylene is a colorless flammable gas primarily used as a petrochemical feedstock for various chemicals and petrochemical materials used in the manufacture of plastic products.
Ethylene may be transported as a gas or a liquid.
Holidays in China, Taiwan and South Korea and refusal of some consumers to buy at the current high prices lowwered the demand for ethylene, in general.
Sellers were going strong quoting firm offers with all round optimistism regning supreme.
Deals, sources say were setteled between US $1180 per metric ton CFR and $1200 per metric ton CFR levels.
Further, prospects for ethylene sales were bright with South Korea's YNCC units working normally, they said.
Prices movement downwards is remote for the present but even new demand may not really help prices to move up.
Currently, ethylene prices in South East Asia were much lower than in other parts of Asia
The current strong upstream energy prices will have sellers targeting February and March deals at above the $1130 per metric ton CFR South East Asia mark.
This will also help reduce ethylene price difference between Northern and Southern Asia.
marketing@alchempro.com
