Asia ethylene markets displayed bullish trends as Northeast Asia continued to be firm and Southeast Asia increased by $10 per ton. The market looked still bullish due to support of naphtha.
In North-East Asia market, buyers and sellers were in a stalemate. Formosa Plastics was under negotiation with CAO, but no deal was made until closing time.
In addition, supply was still tight, CAO made a counteroffer at US $815 per ton CFR Indonesia. In Southeast Asian market, supply was also tight and no trader could provide 3,000 tons ethylene to CAO.
Fibre2fashion News Desk - China
marketing@alchempro.com
